Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
The Picard Family Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

81-4548446
B Telephone number (see instructions)

(800) 839-1754
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$1,520,398J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments 5,438 5,438  
4 Dividends and interest from securities... 59,408 59,408  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 47,012
b Gross sales price for all assets on line 6a 924,240
7 Capital gain net income (from Part IV, line 2)... 47,012
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 111,858 111,858  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
25,204 25,204    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
3,845 1,845    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
26,281 699   25,582
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 55,330 27,748   25,582
25 Contributions, gifts, grants paid....... 3,066,207 5,000
26 Total expenses and disbursements. Add lines 24 and 25 3,121,537 27,748   30,582
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,009,679
b Net investment income (if negative, enter -0-) 84,110
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 301,891 36,533 36,533
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 150,043 Click to see attachment
List of Attached Documents:
// Content
64,748 		55,747
b Investments—corporate stock (attach schedule)....... 3,000,372 Click to see attachment
List of Attached Documents:
// Content
1,034,024 		1,323,139
c Investments—corporate bonds (attach schedule)....... 362,283 Click to see attachment
List of Attached Documents:
// Content
111,217 		104,979
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,814,589 1,246,522 1,520,398
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 3,814,589 1,246,522
29 Total net assets or fund balances (see instructions)..... 3,814,589 1,246,522
30 Total liabilities and net assets/fund balances (see instructions). 3,814,589 1,246,522
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,814,589
2
Enter amount from Part I, line 27a .....................
2
-3,009,679
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
441,612
4
Add lines 1, 2, and 3 ..........................
4
1,246,522
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,246,522
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 924,240   877,228 47,012
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       47,012
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 47,012
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 1,169
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 1,169
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,169
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 1,431
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,431
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 262
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow262 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see attachment
List of Attached Documents:
// Content
....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment
List of Attached Documents:
// Content
....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
Yes
 
If "Yes," attach the statement required by General Instruction T.Click to see list of attachments
List of Attached Documents:
// Content
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowDE
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow55 WALLS DRIVE FL 3FairfieldCT ZIP+4right arrow06824
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Alexandra Picard Dir, Pres, Treas
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Caroline Picard Dir, Sec
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Peter Picard Dir, VP
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
 
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
 
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
2,689,111
b
Average of monthly cash balances.......................
1b
184,554
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
2,873,665
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
2,873,665
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
43,105
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
2,830,560
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
141,528
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
141,528
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
1,169
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,169
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
140,359
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
140,359
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
140,359
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
30,582
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
30,582
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 140,359
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:2021, 2020, 2019  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019...... 170,607
c From 2020...... 175,584
d From 2021...... 1,611
e From 2022......  
f Total of lines 3a through e ........ 347,802
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 30,582
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 30,582
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 109,777 109,777
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 238,025
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		238,025
10 Analysis of line 9:
a Excess from 2019.... 60,830
b Excess from 2020.... 175,584
c Excess from 2021.... 1,611
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
Alexandra Picard
Caroline Picard
Peter Picard
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

DEAD RELATIVES FOUNDATION

FOUNDATION SOURCE 501 SILVERSIDE RD
WILMINGTON,DE19809 		N/A PF Expenditure Responsibility Grant 1,620,575

PICABU FOUNDATION

FOUNDATION SOURCE 501 SILVERSIDE RD
WILMINGTON,DE19809 		N/A PF Expenditure Responsibility Grant 1,440,632

WATTS FOUNDATION

1548 1ST AVE S
SEATTLE,WA98134 		N/A PC General & Unrestricted 5,000
Total .................................right arrow 3a 3,066,207
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 5,438  
4 Dividends and interest from securities ....     14 59,408  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 47,012  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   111,858  
13Total. Add line 12, columns (b), (d), and (e)..................
13
111,858
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

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TY 2023 DepreciationSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 ExpenditureResponsibilityStmt
Name:
The Picard Family Foundation
EIN:
81-4548446
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
PICABU FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-05 1,273,701 capital endowment   NO EXPECTED IN 2024   none necessary
PICABU FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-07 118,241 CAPITAL ENDOWMENT   NO EXPECTED IN 2024   none necessary
PICABU FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-18 48,690 capital endowment   NO EXPECTED IN 2024   none necessary
DEAD RELATIVES FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-05 1,273,358 CAPITAL ENDOWMENT   NO EXPECTED IN 2024   none necessary
DEAD RELATIVES FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-17 120,027 capital endowment   NO EXPECTED IN 2024   none necessary
DEAD RELATIVES FOUNDATION
  		501 SILVERSIDE RD STE 123
WILMINGTON,DE19809 		2023-07-18 227,190 capital endowment   NO EXPECTED IN 2024   none necessary

TY 2023 GeneralExplanationAttachment
Name:
The Picard Family Foundation
EIN:
81-4548446
Identifier Return Reference Explanation
FORM 990-PF, PARTS I AND XIV FORM 990-PF, PARTS I AND XIV TOTAL Part I, Line 25, Column (a) and Part XIV, Line 3a: $3,066,207 Less amount not treated as qualifying distribution: $3,061,207 TOTAL Part I, Line 25, Column (d): $5,000

TY 2023 InvestmentsCorpBondsSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC - 3.600% - 05/14/20 1,917 1,963
AMAZON COM INC - 3.875% - 08/2 2,293 1,860
AMERICAN EXPRESS CO - 1.650% - 3,015 2,758
ANHEUSER BUSCH INBEVFIN INC - 2,125 2,001
ANTHEM INC NOTE - 4.101% - 03/ 2,013 1,968
AT&T INC - 4.350% - 03/01/2029 2,384 1,976
BANK OF NOVA SCOTIA - 3.450% - 2,953 2,936
BK OF AMERICA CORP - 2.087% - 2,953 2,646
BLACKROCK INC - 2.400% - 04/30 2,059 1,789
BROADCOM CORP/BROADCOM CAYMAN 1,914 1,952
CAPITAL ONE FINL CORP NOTE - 3 1,869 1,911
CITIGROUP INC - 6.174% - 05/25 2,020 2,073
COMCAST - 4.250% - 10/15/2030 2,324 1,974
CSX CORP - 0.000% - 11/01/2026 1,968 1,903
CVS CAREMARK CORP NOTE - 4.300 1,148 984
DEERE JOHN CAPITAL CORP MTN - 2,016 2,034
DUKE ENERGY CORP - 3.750% - 04 1,993 1,989
ENERGY TRANSFER PARTNERS DTD - 1,950 1,968
ENTERGY CORP - 0.900% - 09/15/ 3,011 2,789
EXPRESS SCRIPTS NOTE - 4.500% 2,116 1,984
GENERAL MTRS FINL COINC NOTE - 1,917 1,961
GOLDMAN SACHS GROUP INC NOTE - 1,786 1,830
HONDA MOTOR CO LTD NOTE - 2.53 2,967 2,826
INTEL CORP - 2.450% - 11/15/20 3,066 2,703
JOHNSON &JOHNSON - 1.300% - 09 3,022 2,522
JP MORGAN CHASE NOTE - 0.000% 2,022 1,992
KEYCORP - 2.550% - 10/01/2029 2,942 2,555
KINDER MORGAN EP - 4.150% - 02 2,028 1,997
METLIFE INC - 5.375% - 07/15/2 2,878 3,134
MORGAN STANLEY SER I MTN - 4.6 2,981 2,972
NISOURCE - 0.950% - 08/15/2025 2,011 1,869
NVIDIA CORP - 2.850% - 04/01/2 3,300 2,779
ORACLE CORP - 2.950% - 05/15/2 1,914 1,941
PFIZER INVT - 4.450% - 05/19/2 1,929 2,001
PHILP MORRIS - 5.125% - 02/15/ 2,011 2,037
ROYAL BK CDA SER I MTN - 3.625 1,997 1,934
SHELL INTL FIN NT - 6.375% - 1 2,660 2,309
SIMON PPTY GROUP - 3.500% - 09 3,259 2,931
STARBUCKS CORP 2.25% 03/12/203 2,081 1,757
THERMO FISHER - 5.000% - 01/31 2,021 2,053
TORONTO DOMINION BANK MTN - 1. 1,969 1,828
TOYOTA MTR CR CORP MTN CALL MA 1,945 1,917
TRUIST FINANCIAL CORP - 4.916% 3,015 2,798
UNITEDHEALTH GROUP INC - 5.800 2,351 2,190
US BANCORP MTN - 2.215% - 01/2 3,009 2,759
WASTE MGMT INC - 4.625% - 02/1 1,967 2,025
WELLS FARGO - 3.000% - 02/19/2 2,009 1,956
WESTPAC BKG CORP NOTE - 2.350% 2,119 1,945

TY 2023 InvestmentsCorpStockSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Name of Stock End of Year Book Value End of Year Fair Market Value
AAON, INC 1,126 1,477
ACADEMY SPORTS AND OUTDOORS IN 1,408 1,716
ACADIA HEALTHCARE CO INC 1,462 1,555
ADIDAS AG 5,134 7,827
ADVANCED DRAINAGE SYSTEMS INC 1,956 2,953
ADVANCED ENERGY IND INC 2,334 3,050
AGREE REALTY CORP 766 818
AIA GROUP LTD ADR 4,818 4,888
AIRBUS GROUP 6,967 9,257
ALAMO GP INC 2,136 3,363
ALEXANDRIA REAL ESTATE EQUITIE 1,105 1,141
ALIBABA GROUP HOLDING LTD 8,426 7,131
ALPHABET INC CL A 19,862 21,373
ALPHABET INC CL C 4,893 9,583
ALTRIA GROUP INC 5,585 5,446
AMAZON COM 17,117 21,424
AMEDISYS INC - COMMON STOCK 1,716 1,806
AMER INTERNATIONAL GROUP INC 6,009 7,249
AMERICAN CAPITAL AGENCY CORP 2,220 2,541
AMERICAN EXPRESS CO 5,799 7,119
AMERICAN HOMES 4 RENT 1,022 1,151
AMERICAN TOWER REIT INC 1,708 1,943
APA CORPORATION 3,994 3,983
ARTISAN PARTNERS ASSET MANAGEM 2,137 2,739
ASGN INC 2,680 2,981
ASML HOLDING NV NY REG SHS 6,800 8,326
ASTRAZENECA 7,323 7,611
AUTODESK, INC 1,529 10,226
AVALONBAY CMNTYS INC 2,050 2,059
AVANTOR HOLDINGS INC 1,811 1,895
AXALTA COATING SYSTEMS LTD 2,178 2,684
BANK NEW YORK MELLON CORP COM 5,189 5,830
BANK OF AMERICA CORP 5,889 7,104
BAXTER INTERNATIONAL INC 3,760 4,098
BEACON ROOFING SUPPLY, INC 2,354 3,742
BLACKROCK INC 3,486 4,059
BLOCK INC 1,968 3,403
BOEING CO 11,283 17,464
BRIXMOR PPTY GROUP INC COM 406 838
BUNZEL PUB LTD. 647 706
CADENCE BANCORPORATION 2,142 2,929
CAMECO CORPORATION 4,365 8,146
CANADIAN PACIFIC RAILWAY LTD 5,322 5,376
CAPITAL ONE FINANCIAL CORP 7,293 9,441
CBRE GROUP 5,634 7,261
CELANESE CORPORATION 3,251 4,040
CENTENE CORP 5,123 5,269
CHARLES SCHWAB CORP 4,532 7,430
CHORD ENERGY CORP 2,325 2,493
CITIGROUP INC 4,757 5,813
COCA COLA BOTTLING CONS 2,031 2,785
COMCAST CORP 6,248 7,323
COMERICA INC 3,730 4,186
CONOCOPHILLIPS 9,121 9,634
COPT DEFENSE PROPERTIES 447 487
CORE AND MAIN INC 2,360 4,364
CORTEVA INC 588 575
COTY INC 706 1,130
COUSINS PROPERTIES INC 953 1,169
CUSHMAN & WAKEFIELD PLC 573 583
CVS CAREMARK CORP 2,920 3,237
CYBERARK SOFTWARE LTD 3,841 6,352
DAIICHI SANKYO CO LTD SPONSORE 4,491 4,677
DANAHER CORP 2,713 3,007
DEERE CO 711 1,999
DEUTSCHE TELE AG ADS 8,424 10,304
DIAGEO PLC ADS 4,586 4,515
DIGITAL RLTY TR INC 1,741 2,019
EASTGROUP PROPERTIES INC 1,164 1,285
ELEMENT SOLUTIONS INC 5,369 6,687
EQUIFAX INC 2,791 3,957
EQUINIX, INC 3,653 4,027
EQUITY COMMONWEALTH 2,017 2,035
ESSENTIAL PROPERTIES REALTY TR 893 946
ESSEX PRTY TR INC 987 992
EXPEDITORS INTL WASH INC 1,920 5,342
EXTRA SPACE STORAGE 2,252 2,886
FABRINET INC 1,923 3,997
FACTSET RESH SYST INC 1,117 5,248
FEDERAL SIGNAL CORP 865 1,688
FERRARI NV 2,285 3,723
FIRST AMERICAN CORP 3,933 4,446
FIRST CITIZENS BANCSHARES INC 4,248 4,257
FISERV, INC 6,261 8,103
FOMENTO ECONOMICO MEXICANO 4,466 5,344
FOOT LOCKER INC N.Y. COM 1,296 1,339
FORTUNE BRANDS INNOVATIONS INC 3,543 4,949
FRANKLIN ELECTRIC CO., INC 1,448 1,836
GATX CORP INC 2,875 3,246
GENERAL MOTORS 6,549 6,573
GENMAB A/S SPON 1,288 1,274
GILDAN ACTIVEWEAR INC 2,365 2,215
GLOBAL PAYMENTS INC 4,449 4,826
GLOBUS MEDICAL INC 2,481 2,558
GOLDMAN SACHS GROUP 4,150 5,401
HCA INC 1,206 3,519
HDFC BANK LTD ADR 12,233 13,019
HEALTHPEAK PROPERTIES INC 466 554
HILTON WORLDWIDE HOLDINGS, INC 1,277 3,278
ILLUMINA INC COM 3,241 3,481
INFOSYS TECH LTD SPD ADR 7,255 7,278
INSIGHT ENTERPRISES, INC 1,985 6,910
INSTALLED BUILDING PRODUCTS IN 2,096 4,388
INTERCONTINENTAL EXCHANGE, INC 6,922 9,119
INTERNATIONAL GAME TECHNOLOGY 1,805 2,494
INTUITIVE SURGICAL 2,556 4,386
INVITATION HOMES INC. 879 921
IQVIA HOLDINGS INC 7,177 8,098
ITAU UNIBANCO HOLDING S.A 5,546 6,881
JANUS INTERNATIONAL GROUP INC 3,172 3,615
KERRY GROUP PLC 5,289 5,774
KFORCE INC 2,419 2,702
KION GROUP AG GERMANY 5,255 8,653
KIRBY CORPORATION 3,117 3,689
KKR & CO INC 6,086 9,279
KROGER CO 3,409 3,520
L'AIR LIQUIDE ADR OTC 3,120 4,479
LANDSTAR SYSTEM 2,851 3,486
LASERTEC ADR 5,247 9,634
LEAR CORP 3,177 3,107
LONDON STK EXCHANGE GROUP 6,255 7,164
LONZA GROUP AG UNSP/ADR 3,256 2,778
LOOMIS SAYLES HIGH INCOME OPPO 38,978 34,519
LOOMIS SAYLES SECURITIZED ASSE 104,746 88,367
LVMH MOET HENN UNSP 3,675 4,874
MAGNA INTERNATIONAL INC 3,757 4,077
MANULIFE FIN CORP 5,554 6,895
MASCO CORP 4,316 5,894
MATADOR RESOURCES COMPANY 1,095 1,080
MATERION CORP 1,659 2,082
MATIV HOLDINGS ORD SHS 1,024 1,118
MCGRATH RENTCORP 1,413 1,675
META PLATFORMS INC 9,200 28,317
MFA MTG INVTS INC 1,850 2,017
MICROSOFT CORP 2,094 16,170
MOELIS AND COMPANY 2,121 2,694
MONSTER BEVERAGE CORP 3,234 10,082
MOODYS CORP 2,386 3,515
MURATA MFG INC UNSP/ADR 4,845 5,510
MURPHY OIL CP HLDG 2,202 2,218
NATIONAL RETAIL PROPERTIES INC 2,978 3,362
NATIONAL STORAGE AFFILIATES TR 2,646 3,193
NESTLE S.A 4,489 4,510
NETFLIX INC 4,994 13,633
NETSTREIT 135 161
NIDEC CORPORATION ADR 4,244 4,418
NORSK HYDRO ASA 4,124 4,429
NOVARTIS AG ADR 3,604 4,241
NOVO NORDISK A S 1,417 6,414
NVIDIA CORP 1,689 23,275
NXP SEMICONDUCTORS 5,700 6,890
OLD NATIONAL BANCORP 1,117 1,267
ORACLE CORP 9,874 15,920
PAN PAC INTL HLDGS UNSPONSORED 7,275 9,377
PATTERSON-UTI ENERGY INC 1,925 1,868
PAYPAL HOLDINGS, INC 2,219 2,395
PENNYMAC MTG INVT TR 1,413 1,525
PERMIAN RESOURCES CORP CLASS A 2,242 2,706
PHILLIPS 66 5,601 6,258
PING AN INSURANCE GROUP ADR 2,807 2,030
PROLOGIS 4,883 5,199
PROSPERITY BANC SHARES, INC 2,567 3,116
PRUDENTIAL PLC SC 6,839 6,645
PUBLIC STORAGE INC 1,711 1,830
QUALCOMM INC 2,076 5,785
RAMBUS, INC 1,174 3,481
REALTY INCOME CORP 657 689
RED ROCK RESORTS INC 2,146 2,667
REGENCY CENTERS CORP 1,525 1,608
REGENERON PHARMACEUTICALS INC 4,578 7,026
RESTORATION HARDWARE 1,015 1,166
REXFORD INDUSTRIAL REALTY INC 1,041 1,178
ROCHE HOLDING LTD ADR 2,601 2,681
RUSH ENTERPRISES, INC 1,396 2,314
RYMAN HOSPITALITY PROPERTIES 1,636 2,091
SAFEHOLD INC 540 655
SAIA, INC 1,252 2,629
SALESFORCE.COM 12,263 16,578
SANDOZ GROUP AG 189 256
SAP AKTIENGESELL ADS 5,330 8,039
SEALED AIR CORP 2,144 2,337
SEI INVESTMENTS 1,095 4,004
SELECTIVE INS GROUP INC 2,327 2,785
SHELL ADR EACH REPRESENTING 2 6,319 9,080
SHIN-ETSU CHEMICAL C 3,809 7,231
SHISEIDO CO LTD 3,289 3,665
SHOPIFY INC 3,571 6,855
SIEMENS AG 6,286 8,138
SIGNET GROUP PLC SPONS ADR NAS 1,980 2,789
SIKA AG BEARER SHS 5,386 6,559
SIMON PPTY GROUP INC 1,300 1,712
SKYLINE CHAMPION CORP 2,623 3,193
SONY GROUP CORP 6,890 7,859
SOUTHERN COPPER CORP 8,115 9,123
SPIRE INC 2,935 3,117
STAG INDUSTRIAL INC 2,827 3,416
STARBUCKS CORP COM 4,938 5,665
STATE STREET CORPORATION 5,480 6,119
STMICROELECTRONICS 4,638 5,063
SUN COMMUNITIES INC 1,244 1,337
SYMRISE AG UNSPONSORED 4,363 4,512
TAIWAN SEMICONDUCTOR MFG CO LT 3,513 5,720
TANGER FACTORY OUTLET CENTERS 266 416
TE CONNECTIVITY LTD 2,765 3,372
TENCENT HOLDINGS LIMITED 4,946 4,724
TESLA MOTORS INC 8,155 16,897
THE CHEMOURS CO 2,370 2,839
THERMO FISHER SCIENTIFIC INC 3,428 3,716
THOR INDS INC 6,834 9,815
TORAY INDUSTRIES INC 8,935 8,218
TREASURY WINE ESTATES ADR 5,318 5,154
TRUIST FINANCIAL CORPORATION 4,078 5,206
UDR INC 1,266 1,417
ULTRA CLEAN HOLDINGS, INC 959 1,229
UNITED BANKSHARES, INC 1,909 2,553
VALMONT INDUSTRIES INC 1,368 1,401
VALVOLINE INC 1,875 2,029
VANGUARD FTSE DEVELOPED MARKET 21,316 22,321
VANGUARD SMALL-CAP VALUE ETF 1,695 1,980
VANGUARD VALUE ETF 25,662 26,910
VENTAS INC 1,991 2,193
VERIS RESIDENTIAL ORD SHS 326 346
VERTEX PHARMCTLS INC 4,409 8,952
VICI PROPERTIES INC 2,851 3,188
VISA INC 11,921 17,443
WAL-MART DE MEX V SP/ADR 4,824 6,206
WALT DISNEY HOLDINGS CO 11,037 11,647
WARNER BROS. DISCOVERY, INC 4,931 4,825
WARNER MUSIC GRP CRP 3,322 3,543
WATTS WATER TECHNOLOGIES INC 685 1,042
WELLS FARGO & CO 4,840 8,564
WELLTOWER INC. 1,325 1,443
WESTERN ALLIANCE BANCORPORATIO 4,061 4,408
WILLIS TOWERS WATSON 6,085 6,754
WORKDAY INC 2,136 4,141
WORLDLINE 1,383 1,997
YUM BRANDS INC 1,408 3,789
YUM CHINA HOLDINGS INC 1,261 1,443
ZIONS BANCORP 3,084 3,641

TY 2023 InvestmentsGovtObligationsSch
Name:
The Picard Family Foundation
EIN:
81-4548446
US Government Securities - End of Year Book Value:

62,738
US Government Securities - End of Year Fair Market Value:

53,808
State & Local Government Securities - End of Year Book Value:


2,010
State & Local Government Securities - End of Year Fair Market Value:


1,939


TY 2023 LiquidationExplanationStmt
Name:
The Picard Family Foundation
EIN:
81-4548446
Statement:
As explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2023, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $3,066,207. This amount represents 25% or more of the Foundation's net assets of $3,919,646 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2023. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein.


TY 2023 OtherExpensesSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 25,557     25,557
Bank Charges 699 699    
State or Local Filing Fees 25     25


TY 2023 OtherIncreasesSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Description Amount
GRANTS OF PUBLICLY-TRADED SECURITIES 441,612


TY 2023 OtherProfessionalFeesSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 25,204 25,204    


TY 2023 TaxesSchedule
Name:
The Picard Family Foundation
EIN:
81-4548446
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2023 1,300      
990-PF Extension for 2022 700      
Foreign Tax Paid 1,845 1,845