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 CARL VICTOR PAGE MEMORIAL FOUNDATION
 
% ROSEWOOD FAMILY ADVISORS LLP
Number and street (or P.O. box number if mail is not delivered to street address)2475 HANOVER STREET Suite 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PALO ALTO, CA94304
A Employer identification number

20-1922957
B Telephone number (see instructions)

(650) 313-2002
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$6,290,938,902J 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) 55,708,531
2 Check right arrow.............
3 Interest on savings and temporary cash investments 11,119,192 11,119,192  
4 Dividends and interest from securities... 54,743,802 54,682,610  
5a Gross rents............ 36,360 51,790  
b Net rental income or (loss) 36,360
6a Net gain or (loss) from sale of assets not on line 10 328,142,775
b Gross sales price for all assets on line 6a 2,616,676,650
7 Capital gain net income (from Part IV, line 2)... 526,667,273
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)....... Click to see attachment
List of Attached Documents:
// Content
8,682,001 11,120,501  
12 Total. Add lines 1 through 11........ 458,432,661 603,641,366  
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)......... Click to see attachment
List of Attached Documents:
// Content
56,067 28,033 0 28,034
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
767,115 383,558 0 383,557
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
11,825,126 11,777,653   250
17 Interest............... 2,206,048 2,174,466    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,976,048 2,436,806    
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
5,404,391 5,217,483   182,077
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 30,234,795 22,017,999 0 593,918
25 Contributions, gifts, grants paid....... 285,596,584 285,596,584
26 Total expenses and disbursements. Add lines 24 and 25 315,831,379 22,017,999 0 286,190,502
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 142,601,282
b Net investment income (if negative, enter -0-) 581,623,367
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............. 62,802 217,162 217,162
2 Savings and temporary cash investments......... 137,874,580 129,865,715 129,865,715
3 Accounts receivable right arrow23,657,713
Less: allowance for doubtful accounts right arrow   3,773,572 23,657,713 23,657,713
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)      
b Investments—corporate stock (attach schedule)....... 676,893,388 Click to see attachment
List of Attached Documents:
// Content
599,235,097 		2,457,083,397
c Investments—corporate bonds (attach schedule)....... 1,072,696,642 Click to see attachment
List of Attached Documents:
// Content
1,884,650,275 		2,092,695,642
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).......... 1,864,451,458 Click to see attachment
List of Attached Documents:
// Content
1,386,425,950 		1,587,146,147
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
70,402,789 		Click to see attachment
List of Attached Documents:
// Content
273,126 		Click to see attachment
List of Attached Documents:
// Content
273,126
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,826,155,231 4,024,325,038 6,290,938,902
Liabilities 17 Accounts payable and accrued expenses.......... 0 50,853,520
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 50,853,520
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 3,826,155,231 3,973,471,518
29 Total net assets or fund balances (see instructions)..... 3,826,155,231 3,973,471,518
30 Total liabilities and net assets/fund balances (see instructions). 3,826,155,231 4,024,325,038
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
3,826,155,231
2
Enter amount from Part I, line 27a .....................
2
142,601,282
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
4,715,005
4
Add lines 1, 2, and 3 ..........................
4
3,973,471,518
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
3,973,471,518
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 AEOLUS PROPERTY CATASTROPHE KEYSTONE PF FUND PARTIAL REDEMPTION      
c ANRP II (AIV L-TKK) LP      
d ANRP II TE (CONDUIT AIV III-R) LP      
e ANRP II TE (CONDUIT PA-L C) LP      
CARLYLE STRUCTURED CREDIT FUND LP      
KABOUTER INT'L OPPORTUNITIES OFFSHORE FUND II LTD      
WELLINGTON TRUST COMPANY      
HG VORA SPECIAL OPPORTUNITIES FUND LTD      
TYBOURNE EQUITY (OFFSHORE)      
ALKEON GROWTH OFFSHORE FUND LTD      
BRIDGE DEBT STRATEGIES FUND II INTERNATIONAL LP - SEC 731A GAIN      
THE CANYON REALIZATION FUND (CAYMAN) LTD      
INSIGHT VENTURE PARTNERS (CAYMAN) X (SELLER AIP) LP      
BOSTWICK COMPOUND OFFSHORE LTD      
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 2,446,002,326   1,915,430,830 530,571,496
b 15,279,181   15,329,243 -50,062
c 149,000   148,999 1
d 12,431   11,361 1,070
e 7,100   0 7,100
62,497   77,481 -14,984
24,004,148   34,000,000 -9,995,852
52,760,517   58,217,810 -5,457,293
31,736,900   23,465,726 8,271,174
33,197   0 33,197
35,124,628   35,000,000 124,628
215,103   151,980 63,123
3,676,295   2,463,255 1,213,040
567,092   567,092  
6,351,281   5,145,600 1,205,681
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
      35,464
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       530,571,496
b       -50,062
c       1
d       1,070
e       7,100
      -14,984
      -9,995,852
      -5,457,293
      8,271,174
      33,197
      124,628
      63,123
      1,213,040
       
      1,205,681
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 526,667,273
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 8,084,565
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 8,084,565
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 8,084,565
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 11,867,789
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 7,500,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 19,367,789
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 11,283,224
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow11,283,224 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 list of attachments
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 list of attachments
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
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 arrowCA
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
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 arrowROSEWOOD FAMILY ADVISORS LLP Telephone no.right arrow (650) 313-2002

Located atright arrow2475 HANOVER ST SUITE 100PALO ALTOCA ZIP+4right arrow94304
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
Yes
 
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
 
No
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)
 
No
(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
 
 
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
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
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
LAWRENCE PAGE DIRECTOR, CHAIRMAN & PRESIDENT
0.25 		0 0 0
2475 HANOVER STREET
PALO ALTO,CA94304
LUCINDA SOUTHWORTH DIRECTOR & CFO
0.25 		0 0 0
2475 HANOVER STREET
PALO ALTO,CA94304
P WAYNE OSBORNE SECRETARY
0.5 		0 0 0
2475 HANOVER STREET
PALO ALTO,CA94304
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
ROSEWOOD FAMILY ADVISORS LLP TAX & ACCOUNTING 737,796
2475 HANOVER STREET SUITE 100
PALO ALTO,CA94304
ARTISAN PARTNERS LIMITED PARTNERSHIP INVESTMENT MGMT 534,954
875 E WISCONSIN AVE SUITE 800
MILWAUKEE,WI53202
MORGAN STANLEY & CO INCORPORATED INVESTMENT MGMT 3,121,857
1585 BROADWAY
NEW YORK,NY10036
BANK OF NEW YORK MELLON CORPORATION INVESTMENT MGMT 535,338
240 GREENWICH STREET
NEW YORK,NY10286
FIERA CAPITAL INVESTMENT MGMT 434,465
375 PARK AVENUE 8TH FLOOR
NEW YORK,NY10152
Total number of others receiving over $50,000 for professional services.............right arrow1
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 NONE  
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
4,021,259,934
b
Average of monthly cash balances.......................
1b
151,097,462
c
Fair market value of all other assets (see instructions)................
1c
1,546,603,360
d
Total (add lines 1a, b, and c).........................
1d
5,718,960,756
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
5,718,960,756
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
85,784,411
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
5,633,176,345
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
281,658,817
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
281,658,817
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
8,084,565
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
8,084,565
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
273,574,252
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
273,574,252
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
273,574,252
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
286,190,502
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
286,190,502
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 7 273,574,252
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 282,446,267
b Total for prior years:2021, 2020, 2019  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 286,190,502
a Applied to 2022, but not more than line 2a 282,446,267
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..... 3,744,235
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 0 0
(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 0
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 .......... 		269,830,017
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 ...... 		0
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023.... 0
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).)
LAWRENCE PAGE
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.
NA
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

NATIONAL PHILANTHROPIC TRUST

165 TOWNSHIP LINE ROAD
SUITE 1200
JENKINTOWN,PA19046 		NONE PC general grantmaking support 1,096,584

PEOPLE'S COURAGE INTERNATIONAL INC

3206 10TH ST NE
WASHINGTON,DC20017 		NONE PC Project support for a multi-stakeholder, collaborative effort to ensure safety, security, and mobility for vulnerable internal migrant workers living in countries outside of the United States 2,000,000

THE ENERGY FOUNDATION

55 SECOND STREET SUITE 2400
SAN FRANCISCO,CA94105 		NONE PC General Support 4,000,000

THINK OF US

700 PENNSYLVANIA AVENUE SE SUITE 2
WASHINGTON,DC20003 		NONE PC General Support 500,000

THE TIDES CENTER

1012 TORNEY AVENUE
SAN FRANCISCO,CA94129 		NONE PC Project support to promote movement infrastructure 2,000,000

GLOBAL FISHING WATCH

1025 CONNECTICUT AVENUE NW SUITE 2
WASHINGTON,DC20036 		NONE PC General Support 3,000,000

NEW VENTURE FUND

1828 L STREET NW SUITE 300-A
WASHINGTON,DC20036 		NONE PC Project support for a clean slate initiative for formerly incarcerated individuals 1,000,000

INSTITUTO CLIMA E SOCIEDADE

RUA GENERAL DIONISIO 14 HUMAITA
RIO DE JANEIRO,RJ22271-050
BR 		NONE NC General Support 10,000,000

RF CATALYTIC CAPITAL INC

420 FIFTH AVENUE
NEW YORK,NY10018 		NONE PC Project support to help bridge the gap between federal investments and communities in the United States 15,000,000

UPSTREAM USA

2 OLIVER STREET SUITE 402
BOSTON,MA02109 		NONE PC General Support 500,000

WORLD RESOURCES INSTITUTE

10 G ST NE 800
WASHINGTON,DC20002 		NONE PC Project support for land restoration 4,750,000

STICHTING EUROPEAN CLIMATE FOUNDATION

2513 AM THE HAGUE
NL 		NONE NC General Support 20,000,000

UNIVERSITY OF CALIFORNIA BERKELEY FOUNDATION

1995 UNIVERSITY AVENUE SUITE 401
BERKELEY,CA94704 		NONE PC Project support for genomics research 750,000

STICHTING EUROPEAN CLIMATE FOUNDATION

2513 AM THE HAGUE
NL 		NONE NC Project support to help accelerate the global transition to wind and solar power 3,000,000

SCHWAB CHARITABLE FUND

211 MAIN ST
SAN FRANCISCO,CA94105 		NONE PC Grantmaking support aimed at protecting the planet, alleviating poverty, promoting equity and improving healthcare 218,000,000
Total .................................right arrow 3a 285,596,584
bApproved for future payment

GLOBAL FISHING WATCH
1025 CONNECTICUT AVENUE NW SUITE 2
WASHINGTON,DC20036 		NONE PC General Support 0

NEW VENTURE FUND
1828 L STREET NW SUITE 300-A
WASHINGTON,DC20036 		NONE PC Project support for a clean slate initiative for formerly incarcerated individuals 0

PEOPLE'S COURAGE INTERNATIONAL INC
3206 10TH ST NE
WASHINGTON,DC20017 		NONE PC Project support for a multi-stakeholder, collaborative effort to ensure safety, security, and mobility for vulnerable internal migrant workers living in countries outside of the United States 0

STICHTING EUROPEAN CLIMATE FOUNDATION
2513 AM THE HAGUE
NL 		NONE NC Project support to help accelerate the global transition to wind and solar power 0

THINK OF US
700 PENNSYLVANIA AVENUE SE SUITE 2
WASHINGTON,DC20003 		NONE PC General Support 0

UNIVERSITY OF CALIFORNIA BERKELEY FOUNDATION
1995 UNIVERSITY AVENUE SUITE 401
BERKELEY,CA94704 		NONE PC Project support for genomics research 0

UPSTREAM USA
2 OLIVER STREET SUITE 402
BOSTON,MA02109 		NONE PC General Support 0

WORLD RESOURCES INSTITUTE
10 G ST NE 800
WASHINGTON,DC20002 		NONE PC Project support for land restoration 0
Total ................................. right arrow 3b 59,500,000
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 ........... 		900099   14 11,119,192  
4 Dividends and interest from securities .... 901101 61,192 14 54,682,610  
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 ............ 		901101 84,839 18 328,057,936  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME (LOSS) 		901101 -997 19 374,406  
bFOREIGN EXCHANGE GAIN(LOSS) 901101 -415 18 -578,971  
cSUBPART F INCOME 901101   19 999,888  
dPFIC INCOME 901101   19 10,569,047  
eORDINARY INCOME (LOSS) 901101 -2,458,243 19 -232,669  
fROYALTIES 901101   15 5,034  
gTAX EXEMPT INCOME 901101   14 19,032  
hSWAP INCOME (LOSS) 901101   19 -16,237  
iFEDERAL INCOME TAX REFUND       2,000  
jGUARANTEED PAYMENTS FOR CAPITAL 901101   19 3  
kNONTAXABLE RECEIPTS 901101   19 123  
lRENTAL REAL ESTATE INCOME(LOSS) 901101 -15,430 16 51,790  
12 Subtotal. Add columns (b), (d), and (e) .. -2,329,054 405,053,184  
13Total. Add line 12, columns (b), (d), and (e)..................
13
402,724,130
(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
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
 
Employer identification number

20-1922957
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
  		Employer identification number
20-1922957
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
FLORIDA LLC
2475 HANOVER ST SUITE 100
 
PALO ALTO, CA94304

$ 20,000,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
FLORIDA LLC
2475 HANOVER ST SUITE 100
 
PALO ALTO, CA94304

$ 35,708,531


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
  		Employer identification number

20-1922957
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 PUBLICLY TRADED SECURITIES SEE SCHEDULE B ATTACHMENT $ 20,980,224 2023-12-22
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
2
 PUBLICLY TRADED SECURITIES SEE SCHEDULE B ATTACHMENT $ 14,728,307 2023-12-29
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
  		Employer identification number

20-1922957
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING & TAX SERVICES 758,115 379,058   379,057
AUDIT FEES 9,000 4,500   4,500

TY 2023 AllOthProgRltdInvestmentsSch
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category Amount
NONE  

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

TY 2023 DepreciationSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
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

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Name of Bond End of Year Book Value End of Year Fair Market Value
BNY 40302 - ATTACHMENT 9-1 4,891,054 4,353,739
BNY 40002 - ATTACHMENT 9-1 1,258,856,818 1,445,286,504
BNY 40202 0 0
BNY 40402 0 0
BNY 40002 0 0
BNY 40502 - ATTACHMENT 9-1 368,060,808 384,923,696
BNY 40602 - ATTACHMENT 9-1 252,841,595 258,131,703

TY 2023 InvestmentsCorpStockSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Name of Stock End of Year Book Value End of Year Fair Market Value
ALPHABET INC. 584,506,790 2,442,359,333
ADOBE INC 10,044,901 10,040,778
MICRON TECHNOLOGY 996,637 993,784
UNITED HEALTH GROUP INC 3,686,769 3,689,502

TY 2023 InvestmentsOtherSchedule2
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
FNZ 2761 AT COST 0 0
FNZ 2762 AT COST 0 0
FNZ 2767 AT COST 0 0
8VC CO-INVEST FUND I, LP AT COST 7,729,450 8,768,140
GHF FUND LP AT COST 5,002,335 700,817
AEOLUS PROPERTY CASTASTROPHE AT COST 52,215,451 63,109,246
AH PARALLEL V-Q, LP AT COST 1,433,457 5,234,116
AH V-Q LP AT COST 3,465,828 8,153,805
ALKEON GROWTH OFFSHORE FUND AT COST 0 0
APOLLO NATURAL RESOURCES AT COST 2,718,798 1,858,131
ARES PRIVATE CREDIT SOLUTIONS AT COST 4,513,208 5,148,187
ASHBRIDGE TRANSFORMATIONAL SEC AT COST 10,486,972 17,924,937
BLUERUNVENTURES VI, LP AT COST 5,670,649 13,602,884
BOSTWICK COMPOUND OFFSHORE LTD AT COST 6,854,400 8,648,816
BRIDGE DEBT STRATEGIES FUND II AT COST 0 2,596,875
BRIDGE SENIORS HOUSING & MED AT COST 7,786,126 7,542,170
CANVAS VENTURES 2 LP AT COST 4,355,724 5,653,471
CARLYLE ENERGY MEZZANINE OPP AT COST 621,518 970,454
CARLYLE STRUCTURED CREDIT FUND AT COST 0 0
CIP VI INSTITUTIONAL FEEDER LP AT COST 5,909,869 7,933,832
CO-INVESTMENT FUND IV LP AT COST 846,779 156,588
CVRF (CAYMAN) LTD. AT COST 7,827,844 11,334,488
EMPYREAN CAPITAL OVERSEAS AT COST 62,000,000 66,708,832
EMR CAPITAL RESOURCES FUND II AT COST 3,586,596 2,037,657
FARALLON CAPITAL INSTITUTIONAL AT COST 798,599 758,943
H.I.G. BAYSIDE LOAN FUND IV AT COST 2,008,962 1,918,170
H.I.G. WHITEHORSE OFFSHORE AT COST 2,405,397 2,759,306
HG VORA OPPORTUNITY FUND AT COST 31,034,274 32,026,172
KABOUTER INT'L OPPORTUNITIES AT COST 0 0
KKR LENDING PARTNERS EUROPE AT COST 5,413,981 3,123,338
ORCHARD LANDMARK LIMITED AT COST 41,939,193 45,644,468
PALMER SQUARE CREDIT FUND LLC AT COST 72,118,124 76,232,284
PALO ALTO HEALTHCARE OFFSHORE AT COST 43,000,000 41,634,262
PETERSHILL II OFFSHORE LP AT COST 5,732,636 6,063,750
SOMA OFFSHORE LTD. AT COST 35,197,822 62,967,020
STARWOOD INT'L OPPORTUNITY X AT COST 0 30,844
STARWOOD US OPPORTUNITY X AT COST 0 1,234,979
TIGER PACIFIC OFFSHORE FUND AT COST 64,500,000 74,763,403
TWIN TREE CAPITAL OFFSHORE AT COST 16,500,000 31,248,639
VALUEACT CAPITAL INTERNATIONAL AT COST 83,196,063 105,385,087
VISTRIA FUND II (FT) LP AT COST 3,017,914 5,882,653
VISTRIA FUND II, LP AT COST 2,302,902 4,488,919
WELLINGTON TRUST COMPANY, NA AT COST 0 0
YORK EUROPEAN OPPORTUNITIES UN AT COST 504,797 835,769
H.I.G BAYSIDE LOAN FUND IV AIV AT COST 504,693 481,884
STARWOOD OPPT FUND XI US SAR AT COST 132,629 0
STARWOOD OPPT FUND XI US MAR AT COST 1,136,304 1,241,994
INSIGHT VENTURE PARTNERS X LP AT COST 8,942,936 20,806,987
KKR HEALTH CARE STRATEGIC LP AT COST 8,700,442 12,884,300
ATLAS CAPITAL INVESTORS FUND V AT COST 7,162,429 8,018,088
ATLAS MERCHANT CAPITAL FUND LP AT COST 5,272,889 5,260,686
BAIN CAPITAL - ASIA (A), LP AT COST 7,074,725 9,403,764
BEACON CAPITAL - PARTNERS 8 AT COST 7,518,094 5,904,568
LANDMARK - VIII OFFSHORE AT COST 4,363,515 5,367,846
NH TACTICAL VALUE FUND (AIV) AT COST 3,930,208 5,645,133
NH TV FEEDER FUND LP AT COST 6,007,623 6,776,840
SOF-11 INVESTOR INTERNATIONAL AT COST 3,744,080 4,169,844
8VC CO-INVEST FUND I (AIV), LP AT COST 1,674,930 1,900,009
APPIAN NATURAL RESOURCES FUND AT COST 5,361,332 6,725,813
BDT CAPITAL PARTNERS FUND 3 AT COST 10,055,934 12,363,132
MEDALIST PARTNERS OPPORTUNITY AT COST 10,257,366 8,980,914
STARWOOD OPP FUND XI (NRE AT COST 1,940,750 3,294,191
SUN CAPITAL PARTNERS VII LP AT COST 11,340,442 11,626,666
EVERCARE HEALTH FUND FEEDER LP AT COST 1,817,761 1,041,563
FARALLON CAPITAL F5 INVESTORS AT COST 51,854,492 57,063,848
KESTREL COAL GROUP PTY LTD AT COST 3,192,214 5,859,657
MS 8686 & FNZ 2761- ATTM. 12-1 AT COST 20,411,978 20,634,108
GMO CLIMATE CHANGE R6 AT COST 51,278,665 43,839,518
ASSET RESURGENCE MAURITIUS FUN AT COST 7,379,039 7,474,068
CERBERUS RESIDENTIAL INCOME AT COST 11,959,830 16,669,261
LUGARD ROAD CAPITAL OFFSHORE AT COST 12,000,000 7,559,634
PETRICHOR OPP FUND I AT COST 5,600,441 7,061,726
SEG PARTNERS II LP AT COST 45,602,615 46,062,182
VISTRIA FUND III (FT) LP AT COST 8,789,968 11,858,941
YORK DISTRESSED ASSET FUND IV AT COST 11,219,289 14,251,186
RAVENSWOOD GOLD GROUP PTY LTD AT COST 1,599,079 2,153,211
SILVER POINT CAPITAL FUND LP AT COST 64,229,340 66,748,238
ACIP PARALLEL FUND A LP AT COST 13,132,646 14,006,622
29 METALS LIMITED AT COST 28,041 793,830
ARA FUND II LP AT COST 10,167,378 14,753,342
BRIDGE WORKFORCE & AFFORDABLE AT COST 16,473,240 15,963,683
FLAGSHIP PIONEERING FUND VII AT COST 7,424,758 9,866,509
G2VP II LLC AT COST 6,249,531 6,651,912
GAIP 2021 (BERMUDA) AIV LP AT COST 5,036,562 5,280,853
GAIP 2021 AIV A LP AT COST 2,581,103 3,293,696
GENERAL ATLANTIC INVESTMENT AT COST 3,704,231 4,406,497
HIMALAYA OFFSHORE LP AT COST 25,000,000 17,939,542
KHOSLA VENTURES VII LP AT COST 19,735,708 27,540,318
KKR HEALTH CARE STRATEGIC SAIL AT COST 0 76,225
LOWERCARBON 411.2 LP AT COST 5,746,466 6,688,292
LOWERCARBON 419.1 LP AT COST 7,798,948 8,124,082
LOWERCARBON N20 333.9 LP AT COST 4,831,671 4,920,000
METAVASI FUND LTD. AT COST 25,000,000 21,827,254
OCP ASIA FUND IV LP AT COST 5,600,002 4,579,212
RIBBIT BULLFROG II LP AT COST 8,218,335 7,194,175
SOF-XII US TE/QFPF REIT AT COST 1,329,351 1,086,261
SOF-XII US TE/NON-US AT COST 5,573,182 5,852,038
STARWOOD OPPORTUNITIES FUND 12 AT COST 668,483 681,754
SUSTAINABLE ASSET FUND III, LP AT COST 7,058,018 11,061,391
TECHNOLOGY IMPACT GROWTH II AT COST 10,588,897 10,654,562
VISTRIA FUND IV (FT) LP AT COST 15,909,550 17,854,454
CIP6 AIV II S.C.A. SICAV-RAIF AT COST 276,136 249,594
BDT CAP PTRNS FUND 3 SPIRITS AT COST 269,100 305,092
DRAGONEER OPPORT. OFFSHORE VI AT COST 9,500,983 8,443,078
LOWERCARBON CH4 1893.4 OPPORT. AT COST 7,429,913 7,759,394
PIMCO TACTICAL OPPORT.OFFSHORE AT COST 70,000,000 73,028,336
RA CAPITAL HEALTHCARE INT'L AT COST 40,000,000 52,864,540
RTW OFFSHORE FUND ONE LTD AT COST 40,000,000 42,892,263
SOF-XII INTERNATIONAL BLOCKER AT COST 3,060,000 3,061,823
SOF-XII PUBLIC INVESTMENT FEED AT COST 96,000 95,375
KHOSLA VENTURES VIII LP AT COST 3,186,017 3,138,896

TY 2023 LegalFeesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
GENERAL LEGAL SERVICES 56,067 28,033   28,034


TY 2023 OtherAssetsSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DIVIDEND RECEIVABLE 1,062,337 254,273 254,273
PREPAID CONTRIBUTION - AEOLUS 30,000,000 0 0
PREPAID CONTRIBUTION - PIMCO 39,200,000 0 0
PREPAID CONTRIBUTION - ATLAS 140,452 18,853 18,853


TY 2023 OtherExpensesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
RRF-1 FEE 1,200     1,200
INSURANCE 164,282 2,915   161,367
OTHER DEDUCTIONS FROM K-1S 4,387,734 4,387,734    
ROYALTY DEDUCTIONS FROM K-1S 2,232 2,232    
CHARITABLE DEDUCTIONS 18,010     18,010
NONDEDUCTIBLE EXPENSES 4,683      
BUSINESS INTEREST EXP FROM K-1 320,005 320,005    
MEMBERSHIP FEES 1,500     1,500
PENALTY 148      
BOND PURCHASE INTEREST EXPENSE 498,384 498,384    
BANK FEES 16 16    
SEC 59 E(2) EXPENDITURES 50 50    
FEES AND LICENSES 438 438    
OFFICE EXPENSES 5,709 5,709    


TY 2023 OtherIncomeSchedule2
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 373,409 374,406  
FOREIGN EXCHANGE GAIN(LOSS) -579,386 -578,971  
SUBPART F INCOME 999,888 999,888  
PFIC INCOME 10,569,047 10,569,047  
ORDINARY INCOME(LOSS) -2,690,912 -232,669  
ROYALTIES 5,034 5,034  
TAX EXEMPT INCOME 19,032 0  
FEDERAL INCOME TAX REFUND 2,000 0  
GUARANTEED PAYMENTS FOR CAPITAL 3 3  
NONTAXABLE RECEIPTS 123 0  
SWAP INCOME (LOSS) -16,237 -16,237  


TY 2023 OtherIncreasesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Description Amount
FOREIGN CURRENCY - UNREALIZED GAINS 4,715,005


TY 2023 OtherProfessionalFeesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 3,210,479 3,210,479    
PORTFOLIO DEDUCTIONS FROM K-1S 8,614,147 8,566,924    
PROFESSIONAL SERVICES 500 250   250


TY 2023 TaxesSchedule
Name:
THE CARL VICTOR PAGE MEMORIAL FOUNDATION
EIN:
20-1922957
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SEC. 4940 EXCISE TAX 7,500,000      
FOREIGN TAXES 2,434,151 2,433,058    
STATE TAXES 2,948 2,948    
FEDERAL TAX FROM K-1S 38,149      
LLC TAX 800 800