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
DUKE FARMS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)444 MADISON AVENUE 10TH FLOOR
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10022
A Employer identification number

13-4008720
B Telephone number (see instructions)

(908) 243-3619
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$60,541,759J 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) 16,311,121
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities...      
5a Gross rents............ 16,226 16,226 16,226
b Net rental income or (loss) 16,226
6a Net gain or (loss) from sale of assets not on line 10 -2,773
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances 209,478
b Less: Cost of goods sold.... 137,418
c Gross profit or (loss) (attach schedule)..... 72,060 72,060
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
287,353 0 182,346
12 Total. Add lines 1 through 11........ 16,683,987 16,226 270,632
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 3,911,648 0 0 3,770,458
15 Pension plans, employee benefits....... 2,320,338 0 0 2,175,301
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
57,489 0 0 55,804
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
971,314 0 0 926,023
17 Interest............... 2,249,874 0 0 0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
259,284 0 0 259,284
19 Depreciation (attach schedule) and depletion... 3,217,975 16,226 88,286
20 Occupancy..............        
21 Travel, conferences, and meetings....... 116,943 0 0 116,943
22 Printing and publications.......... 27,012 0 0 26,722
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,668,225 0 182,346 5,466,359
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 18,800,102 16,226 270,632 12,796,894
25 Contributions, gifts, grants paid....... 71,998 71,000
26 Total expenses and disbursements. Add lines 24 and 25 18,872,100 16,226 270,632 12,867,894
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,188,113
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)... 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............. 2,100    
2 Savings and temporary cash investments.........      
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow   93,182    
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................   265,000 265,000
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.......... 172,055 252,267 252,267
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
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 arrow113,069,610
Less: accumulated depreciation (attach schedule) right arrow53,737,961 61,555,097 Click to see attachment
List of Attached Documents:
// Content
59,331,649 		59,331,649
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
723,977 		Click to see attachment
List of Attached Documents:
// Content
692,843 		Click to see attachment
List of Attached Documents:
// Content
692,843
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 62,546,411 60,541,759 60,541,759
Liabilities 17 Accounts payable and accrued expenses.......... 846,959 1,026,899
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 55,090,000 55,090,000
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
3,561,370 		Click to see attachment
List of Attached Documents:
// Content
3,310,977
23 Total liabilities (add lines 17 through 22)......... 59,498,329 59,427,876
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........... 3,048,082 1,113,883
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    
29 Total net assets or fund balances (see instructions)..... 3,048,082 1,113,883
30 Total liabilities and net assets/fund balances (see instructions). 62,546,411 60,541,759
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
3,048,082
2
Enter amount from Part I, line 27a .....................
2
-2,188,113
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
472,729
4
Add lines 1, 2, and 3 ..........................
4
1,332,698
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
218,815
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,113,883
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.)
1a
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
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
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  
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 0
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 0
3 Add lines 1 and 2........................... 3 0
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 0
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 0
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 0
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow   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? ....................
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
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 changes....
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
 
No
If "Yes," attach the statement required by General Instruction T.
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 arrowNJ, NY
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
Yes
 
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 arrowWWW.DUKEFARMS.ORG
14
The books are in care ofright arrowEILEEN OBERLANDER Telephone no.right arrow (908) 243-3619

Located atright arrow1112 DUKES PARKWAY WESTHILLSBOROUGHNJ ZIP+4right arrow08844
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)
 
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
SAMSHER GILL CEO/PRESIDENT
6.00 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
PETER SIMMONS COO/TREASURER
6.00 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
ERICA DZIEDZIC SECRETARY/COUNSEL
10.00 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
WILLIAM H WRIGHT DIR./CHAIRPERSON
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
ANTHONY S FAUCI VICE CHAIRPERSON
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
VISHAKHA N DESAI DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
MARIE LYNN MIRANDA DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
NANNERL O KEOHANE DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
AFSANEH BESCHLOSS DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
MARY SCHMIDT CAMPBELL DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
CATHERINE MARRON DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
JOHN TALTY DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
DAVID S WILCOVE DIRECTOR
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
JT BATSON DIRECTOR (AS OF 01/2023)
0.50 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
BROOKE JONES DIRECTOR (AS OF 09/2023)
0.25 		0 0 0
444 MADISON AVENUE 10TH FLOOR
NEW YORK,NY10022
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
MARGARET WALDOCKClick to see attachment
List of Attached Documents:
// Content
EXECUTIVE DIRECTOR
40.00 		264,323 41,895 0
444 MADISON AVENUE 10TH FL
NEW YORK,NY10022
JONATHAN WAGAR DEP. EXEC. DIRECTOR
40.00 		165,342 72,578 0
444 MADISON AVENUE 10TH FL
NEW YORK,NY10022
THOMAS ALMENDINGER DIR. NATURAL RES.
40.00 		156,738 22,378 0
444 MADISON AVENUE 10TH FL
NEW YORK,NY10022
NORA SCHNURE DEP. EXEC. DIRECTOR
40.00 		147,726 22,673 0
444 MADISON AVENUE 10TH FL
NEW YORK,NY10022
KATE REILLY MANAGER, EDUCATION
40.00 		102,288 12,300 0
444 MADISON AVENUE 10TH FL
NEW YORK,NY10022
Total number of other employees paid over $50,000...................right arrow 30
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
GABEL ASSOCIATES INC CONSULTING (SOLAR ENERGY) 116,967
417 DENISON STREET
HIGHLAND PARK,NJ08904
PINTO CONSULTING LLC CONSULTING (LIVESTOCK WATERING) 75,500
21 CHERRY TREE LANE
CHESTER,NJ07930
Total number of others receiving over $50,000 for professional services.............right arrow0
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 SEE STATEMENT 19 15,582,127
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 arrow0
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
0
b
Average of monthly cash balances.......................
1b
2,100
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
2,100
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
2,100
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
32
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
2,068
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
103
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
 
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
 
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
 
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
 
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
 
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
12,867,894
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
997,299
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
13,865,193
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  
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$  
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.....  
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2023.    
(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  
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 .......... 		 
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 ...... 		 
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....  
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
1998-09-09
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
0 0 0 0 0
b 85% (0.85) of line 2a ......... 0 0 0 0 0
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		997,299 1 1 1 997,302
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		0 0 0 0 0
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		997,299 1 1 1 997,302
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ...... 60,538,237 62,546,411 65,376,216 68,603,329 257,064,193
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		 59,331,649 61,555,097 64,181,670 68,603,329 253,671,745
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		        0
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) .... 		        0
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		        0
(3) Largest amount of support
from an exempt organization		         0
(4) Gross investment income         0
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).)
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

ALLIANCE FOR NJ ENVIRONMENTAL EDUCATION

634 EAGLE ROCK AVENUE 416
WEST ORANGE,NJ07052 		N/A PC GENERAL SUPPORT 1,000

AMERICAN COMMUNITY GARDENING

3271 MAIN STREET
ATLANTA,GA30337 		N/A PC GENERAL SUPPORT 3,000

ASSOCIATION OF NJ ENVIRONMENTAL

PO BOX 157
MENDHAM,NJ07945 		N/A PC GENERAL SUPPORT 1,500

CITY GREEN INC

171 GROVE STREET
CLIFTON,NJ07013 		N/A PC GENERAL SUPPORT 1,500

FIRST AID & RESCUE SQUAD INC OF SOMERVILLE

21 PARK AVENUE
SOMERVILLE,NJ08876 		N/A PC GENERAL SUPPORT 2,000

FOODSHED ALLIANCE

PO BOX 713
BLAIRSTOWN,NJ07825 		N/A PC GENERAL SUPPORT 2,000

FRIENDS OF HOPEWELL VALLEY OPEN

28 FIDDLERS CREEK RD
TITUSVILLE,NJ08560 		N/A PC GENERAL SUPPORT 2,500

HILLSBOROUGH VOL FIRE CO #1

PO BOX 111
FLAGTOWN,NJ08821 		N/A PC GENERAL SUPPORT 5,000

LOWER RARITAN WATERSHED PARTNERSHIP

PO BOX 446
NEW BRUNSWICK,NJ08903 		N/A PC GENERAL SUPPORT 1,500

MANVILLE FIRE DEPARTMENT

325 NORTH MAIN ST
MANVILLE,NJ08835 		N/A PC GENERAL SUPPORT 2,500

MANVILLE FIRST AID & RESCUE SQUAD

2 SOUTH THIRD AVENUE
MANVILLE,NJ08835 		N/A PC GENERAL SUPPORT 2,500

NEW JERSEY AUDUBON SOCIETY

9 HARDSCRABBLE ROAD
BERNARDSVILLE,NJ07924 		N/A PC GENERAL SUPPORT 2,500

NEW JERSEY CONSERVATION FOUNDATION

170 LONGVIEW ROAD
FAR HILLS,NJ07931 		N/A PC GENERAL SUPPORT 5,000

NJ LEAGUE OF CONSERVATION VOTERS

PO BOX 1237
TRENTON,NJ08606 		N/A PC GENERAL SUPPORT 1,500

NORTH JERSEY RC&D AREA INC

10 MAPLE AVE
ASBURY,NJ08802 		N/A PC GENERAL SUPPORT 5,000

NORTHEAST ORGANIC FARMING ASSOCIATION

386 ROCK RD E
LAMBERTVILLE,NJ08530 		N/A PC GENERAL SUPPORT 1,500

PINELANDS PRESERVATION ALLIANCE

17 PEMBERTON RD
SOUTHAMPTON TOWNSHIP,NJ08088 		N/A PC GENERAL SUPPORT 1,500

RARITAN BOROUGH

22 FIRST STREET
RARITAN,NJ08869 		N/A GOV GENERAL SUPPORT 2,000

RARITAN RELIEF HOSE CO NO 2

611 THOMPSON STREET
RARITAN,NJ08869 		N/A PC GENERAL SUPPORT 2,500

SOMERVILLE ALLIANCE FOR FOOD EDUCATION

151 W CLIFF ST FL 1
SOMERVILLE,NJ08876 		N/A PC GENERAL SUPPORT 2,500

SOURLAND CONSERVANCY

83 PRINCETON AVE SUITE 1A
HOPEWELL,NJ08525 		N/A PC GENERAL SUPPORT 5,000

THE INSTITUTE FOR BIRD POPULATIONS

PO BOX 518
PETALUMA,CA94953 		N/A PC GENERAL SUPPORT 1,500

THE RAPTOR TRUST

1390 WHITE BRIDGE ROAD
MILLINGTON,NJ07946 		N/A PC GENERAL SUPPORT 3,000

THE WATERSHED INSTITUTE INC

31 TITUS MILL RD
PENNINGTON,NJ08534 		N/A PC GENERAL SUPPORT 2,500

TOWNSHIP OF HILLSBOROUGH

379 SOUTH BRANCH ROAD
HILLSBOROUGH,NJ08844 		N/A GOV GENERAL SUPPORT 5,000

VOLUNTEER FIRE CO #2 OF HILLSBOROUGH

375 US-206
HILLSBOROUGH,NJ08844 		N/A PC GENERAL SUPPORT 5,000
Total .................................right arrow 3a 71,000
bApproved for future payment
Total ................................. right arrow 3b 0
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
aBIKE PROGRAM FEE INCOME         49,094
bEDUCATIONAL PROGRAM FEE INCOME         23,297
cCOMMUNITY GARDEN FEE INCOME         16,947
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....          
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 16,226  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    01 -2,773  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory     03 72,060  
11 Other revenue:
aSOLAR RENEWABLE ENERGY CREDITS 		    14 98,207  
bSOLAR DEVELOPMENT REVENUE     01 92,500  
cINSURANCE REIMBURSEMENTS     01 6,800  
dELECTRIC CHARGING STATION FEES     16 508  
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 283,528 89,338
13Total. Add line 12, columns (b), (d), and (e)..................
13
372,866
(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.)
1 PROGRAM SERVICE REVENUE IS DERIVED PRIMARILY FROM THE OPERATION OF DUKE FARMS, A CENTER FOR ENVIRONMENTAL STEWARDSHIP WHICH IS OPEN TO THE PUBLIC. THE FARM GENERATES INCOME FROM HAY & SEED SALES, ON-SITE CAFE, BICYCLE RENTALS AND OTHER ORGANIC FARMING ACTIVITIES. DUKE FARMS IMPLEMENTED A BIKE SHARE PROGRAM THAT ENABLES VISITORS TO RENT ADULT BICYCLES TO EXPLORE THE DUKE FARMS PREMISES. THE PROGRAM IS DESIGNED TO ENCOURAGE SELF DISCOVERY AND ENERGY CONSERVATION. DUKE FARMS IS OPEN TO THE PUBLIC. VISITOR ACTIVITIES INCLUDE A VARIETY OF HORTICULTURAL CLASSES, NATURAL WALKS, BIKE RIDES, AND EDUCATION AND RESEARCH RELATED TO ECOLOGICAL SUSTAINABILITY. FOR MORE INFORMATION ABOUT THE VARIETY OF PUBLIC PROGRAMS RUN BY DUKE FARMS, PLEASE VISIT THE ORGANIZATION'S WEBSITE AT WWW.DUKEFARMS.ORG.
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
DUKE FARMS FOUNDATION
 
Employer identification number

13-4008720
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
DUKE FARMS FOUNDATION
  		Employer identification number
13-4008720
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
DORIS DUKE CHARITABLE FOUNDATION INC
 
444 MADISON AVENUE 10TH FLOOR
 
NEW YORK, NY10022

$ 16,046,121


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
PSEG INC
 
175 E OLD COUNTRY ROAD
 
HICKSVILLE, NY11801

$ 65,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
DEPARTMENT OF ENVIRONMENTAL PROTECTION
 
9605 HORACE HARDING EXPY
 
CORONA, NY11373

$ 200,000


(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
DUKE FARMS FOUNDATION
  		Employer identification number

13-4008720
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
 
$    
(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
 
$    
(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
DUKE FARMS FOUNDATION
  		Employer identification number

13-4008720
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 EmployeeCompensationExpln
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Employee Explanation
PART VII LINE 2 FOR THE COMPENSATED EMPLOYEES REPORTED IN PART VII, LINE 2 OF THE FORM 990-PF, THE BENEFITS DATA INCLUDES 401(K) CONTRIBUTIONS, HEALTH INSURANCE, DENTAL AND GROUP LIFE INSURANCE.

TY 2023 GeneralExplanationAttachment
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Identifier Return Reference Explanation
  FORM 990-PF, PART I, LINE 17 ON MAY 28, 2009, DUKE FARMS FOUNDATION BORROWED $55,000,000, GUARANTEED BY THE DORIS DUKE CHARITABLE FOUNDATION INC, TO FINANCE THE RENOVATION OF NUMEROUS EXISTING BUILDINGS, THE ACQUISITION OF MACHINERY AND EQUIPMENT AND THE CONSTRUCTION OF LANDSCAPING IMPROVEMENTS, ON APPROXIMATELY 500 ACRES OF LAND, FOR A VISITOR ORIENTATION CENTER, OFFICES, GREENHOUSES AND RELATED FACILITIES TO BE USED FOR ECOLOGICAL, AGRICULTURAL AND HORTICULTURAL EDUCATION, RESTORATION, PRESERVATION AND ENJOYMENT, LOCATED IN THE MUNICIPALITY OF HILLSBOROUGH, COUNTY OF SOMERSET IN THE STATE OF NEW JERSEY. IN 2017, THE FOUNDATION COMPLETED BOND REPURCHASE AGREEMENTS TO REFINANCE ITS NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY ECONOMIC DEVELOPMENT REFUNDING BONDS SERIES 2009A AND 2009B BONDS. THE NEW SERIES 2016 AND 2017 BONDS MATURE IN 2046 AND 2048 RESPECTIVELY. FOR PURPOSES OF THE DUKE FARMS FOUNDATION FORM 990-PF, THE FOUNDATION IS TREATING THE INTEREST INCOME GENERATED BY THE BOND AS NET INVESTMENT INCOME TO BE REPORTED IN COLUMN (B). THE FOUNDATION IS, LIKEWISE, TREATING THE INTEREST EXPENSE INCURRED ON THE BOND AS AN OFFSET TO NET INVESTMENT INCOME THAT IS REPORTED IN COLUMN (B), THEREBY RESULTING IN NO TAXABLE INCOME AS THE INTEREST EXPENSE EXCEEDS THE INCOME.THE FOUNDATION IS RELYING ON UNITED STATES TAX COURT PRECEDENT IN TAKING THIS POSITION. IN "INDIANA UNIVERSITY RETIREMENT COMMUNITY INC., V. COMMISSIONER, 92 T.C. 891 (1989)," THE TAX COURT HELD THAT A PRIVATE FOUNDATION MAY DEDUCT THE INTEREST EXPENSE IT PAID ON THE DEBT UNDERLYING THE BOND ISSUE FROM ITS "GROSS INVESTMENT INCOME" IN COMPUTING "NET INVESTMENT INCOME" AS DEFINED IN SECTION 4940, INTERNAL REVENUE CODE OF 1954.THE CENTRAL FACT IN THAT CASE WAS THAT THE PRIVATE FOUNDATION WOULD HAVE HAD NO INVESTMENT INCOME EXCEPT FOR ITS RETURN ON INVESTMENT OF THE BOND PROCEEDS. THE COURT REASONED "THE INTEREST EXPENSE ON THE BONDS AND THE GROSS INVESTMENT INCOME FROM PETITIONER'S INVESTMENT OF THE BOND PROCEEDS AROSE OUT OF THE SAME TRANSACTION AND WERE INEXTRICABLY CONNECTED. BECAUSE OF THIS DIRECT NEXUS AND INTEGRAL RELATIONSHIP, WE HOLD THAT PETITIONER'S INTEREST EXPENSE IS AN ORDINARY AND NECESSARY EXPENSE PAID OR INCURRED FOR THE PRODUCTION OR COLLECTION OF GROSS INVESTMENT INCOME."
  FORM 990-PF, PART I, LINE 19 - DEPRECIATION CAPITALIZED INTEREST - $142,521 LAND IMPROVEMENTS - $1,000,402BUILDING & BUILDING IMPROVEMENTS - $1,767,358FURNITURE & FIXTURES - $13,453EQUIPMENT - $251,597VEHICLES - $42,644 TOTAL DEPRECIATION - $3,217,975
  FORM 990-PF, PART II, LINE 21 - BOND PAYABLE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY, ECONOMIC DEVELOPMENT BOND SERIES 2017 - $30,250,000NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY, ECONOMIC DEVELOPMENT BOND SERIES 2016 - $24,840,000TOTAL BOND PAYABLE - $55,090,000
  FORM 990-PF, PART IX - MINIMUM INVESTMENT RETURN CALCULATION THE DUKE FARMS FOUNDATION HAS NOT INCLUDED ITS BOND PROCEEDS AS A NON-CHARITABLE USE ASSET FOR PURPOSES OF THE MINIMUM INVESTMENT RETURN CALCULATION AS THE BOND PROCEEDS WILL BE USED IN ITS ENTIRETY TO RENOVATE THE FARM AND SURROUNDING PREMISES (I.E. THE BUILDINGS THAT CONSTITUTE THE CHARITABLE ACTIVITY UNDERTAKEN BY DUKE FARMS FOUNDATION). ANY INTEREST GENERATED BY TEMPORARILY INVESTING THESE BONDS IS LIKEWISE NOT BEING DEEMED AS A NON-CHARITABLE USE ASSET AS THESE PROCEEDS ARE INEXTRICABLY LINKED TO THE HOLDING OF THE BOND [FOR A CHARITABLE PURPOSE].AS A PRIVATE OPERATING FOUNDATION, DUKE FARMS FOUNDATION MUST ENTER THE LESSER OF ITS ADJUSTED NET INCOME FROM PART I OR THE MINIMUM INVESTMENT RETURN FROM PART IX INTO THE "INCOME TEST" CALCULATION IN PART XIII. SINCE THE FOUNDATION'S ADJUSTED NET INCOME IS $0, THE AMOUNT CALCULATED AS THE MINIMUM INVESTMENT RETURN IS DISREGARDED FOR PURPOSES OF DETERMINING COMPLIANCE WITH THE "INCOME TEST." PLEASE SEE PART XIII FOR FURTHER DETAILS.
  FORM 990-PF, PART XI - QUALIFYING DISTRIBUTIONS PURSUANT TO IRS TREASURY REGULATION SECTION 53.4942(A)(3)(C)(I), THE DUKE FARMS FOUNDATION IS PROVIDING THE FOLLOWING DISCLOSURE WITH RESPECT TO THE QUALIFYING DISTRIBUTION OF $12,867,894 REPORTED ON PART I, LINE 26 OF THE FORM 990-PF.THE EXEMPT PURPOSE OF THE DUKE FARMS FOUNDATION ("DFF") IS TO PROVIDE A HEALTHY AND SUSTAINABLE HABITAT FOR NATIVE FLORA AND FAUNA FULLY INTEGRATED WITH LOCAL, STATE AND REGIONAL ENVIRONMENTAL STRATEGIES. DFF ALSO CONDUCTS RESEARCH AND PROVIDES EDUCATIONAL PROGRAMS ABOUT ENVIRONMENTAL HEALTH. PLEASE REFER TO PART VIII-A FOR A DESCRIPTION OF THE ORGANIZATION'S MISSION AND ACTIVITIES.THE DUKE FARMS FOUNDATION BOARD IS COMPRISED OF THE SAME INDIVIDUALS AS THAT OF THE DORIS DUKE CHARITABLE FOUNDATION INC (DDCF INC). 99% OF DFF'S FUNDING COMES FROM DDCF INC TO DEFRAY THE OPERATING COSTS OF THE FARM AND TO FUND ASSORTED CHARITABLE DISTRIBUTIONS TO OTHER SECTION501(C)(3) PUBLIC CHARITIES.THE $12,867,894 OF QUALIFYING DISTRIBUTIONS REPORTED ON PART 1, LINE 26 OF DFF'S FORM 990-PF SHALL BE TREATED AS QUALIFYING DISTRIBUTIONS ON THE TAX RETURN OF DDCF INC. THIS IS PERMITTED UNDER 53.4942(A)(3)(C)(1) BECAUSE:1. NOT LATER THAN ONE YEAR AFTER THE END OF THE TAX YEAR IN WHICH DFF RECEIVED FUNDING FROM DDCF INC, IT MADE A DISTRIBUTION EQUAL TO THE FULL AMOUNT OF THE CONTRIBUTION; THE DISTRIBUTION CONSTITUTES A QUALIFYING DISTRIBUTION THAT IS TREATED AS BEING MADE OUT OF CORPUS (OR WOULD BE TREATED AS SUCH IF DFF WERE A PRIVATE NON-OPERATING FOUNDATION), AND2. DFF HAS PROVIDED ADEQUATE RECORDS TO DDCF INC, THAT IT HAS ACTUALLY PAID OUT THE GRANTED FUNDS TO QUALIFYING SECTION 501(C)(3) GRANTEES.DFF IS NOT RECOGNIZING THESE EXPENSES AS QUALIFYING DISTRIBUTIONS ON ITS OWN TAX RETURN. FOR PURPOSES OF SECTION 53.4942(A)(3)(C)(I), EXPENSES INCURRED IN THE FURTHERANCE OF FULFILLING THE FOUNDATION'S CHARITABLE MISSION (E.G. OPERATING THE FARM) CONSTITUTE A "PAYOUT" THAT CONSTITUTES A QUALIFYING DISTRIBUTION FOR DDCF INC.TO THE EXTENT THAT THE DUKE FARMS FOUNDATION ACQUIRED ANY ASSETS THAT WILL BE USED TO OPERATE THE FACILITY OR PROPERTY THAT CONSTITUTES ITS PRIMARY EXEMPT MISSION, THOSE ASSETS ARE BEING TREATED AS QUALIFYING DISTRIBUTIONS ON THE DUKE FARMS FOUNDATION FORM 990-PF. FOR THE YEAR ENDING DECEMBER 31, 2023, THE FOUNDATION ACQUIRED $997,299 OF ASSETS USED DIRECTLY IN CARRYING OUT ITS CHARITABLE PURPOSES.
  FORM 990-PF, PART I, LINE 6A THE DUKE FARMS FOUNDATION WROTE OFF VARIOUS FIXED ASSETS DURING CALENDAR YEAR 2023. THE LOSS ON THE WRITE-OFF OF THESE ASSETS TOTALED ($2,773).
  FORM 990-PF, PART VIII-A, LINE 1 DUKE FARMS IS A 2,700-ACRE CENTER OF THE DORIS DUKE FOUNDATION, LOCATED IN HILLSBOROUGH, NEW JERSEY. OUR FOCUS IS TO RESTORE NATURE, DEMONSTRATE EQUITABLE CLIMATE TRANSITION STRATEGIES AND ENGAGE LEADERS AND VISITORS WITH THE WONDER OF NATURE AND THE POWER TO SPARK CHANGE. THROUGH WORK IN MANAGING LAND FOR MAXIUMUM BIODIVERSITY, IMPLEMENTING NATURAL CLIMATE SOLUTIONS, DECARBONIZING OPERATIONS, AND ENGAGING WITH VISITORS WE ARE BUILDING A MORE CREATIVE, EQUITABLE AND SUSTAINABLE FUTURE. WE ALSO INVEST IN SUSTAINABILITY INITIATIVES THAT REDUCE DUKE FARMS' ENVIRONMENTAL IMPACT WHILE DEMONSTRATING STRATEGIES TO ACHIEVE SUSTAINABILITY GOALS FROM OUR OWN OPERATIONS TO THE STATE, NATIONAL, AND GLOBAL LEVEL. ADDITIONALLY, WE PROVIDE INCLUSIVE AND ACCESSIBLE EDUCATION AND ENGAGEMENT OPPORTUNITIES TO CONNECT VISITORS TO NATURE AND ENHANCE OUR IMPACT THROUGH PROGRAMS, CLASSES, CONVENINGS, AND STAKEHOLDER ENGAGEMENT. DUKE FARM'S SOLE CHARITABLE ACTIVITY IS THE OPERATION OF THE FARM PROPERTY; ACCORDINGLY, ALL EXPENSES INCURRED BY THE FOUNDATION (EXCLUSIVE OF INDIRECT OVERHEAD COSTS).

TY 2023 LandEtcSchedule2
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDING & BUILDING IMPROVEMENTS 48,687,447 30,242,482 18,444,965 18,444,965
LAND IMPROVEMENTS 28,858,840 14,986,492 13,872,348 13,872,348
LAND 25,410,680 0 25,410,680 25,410,680
EQUIPMENT 8,118,918 6,688,487 1,430,431 1,430,431
VEHICLES 1,271,475 1,141,641 129,834 129,834
FURNITURE & FIXTURES 701,660 658,269 43,391 43,391
SOFTWARE 20,590 20,590 0  


TY 2023 LegalFeesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SAUL EWING LLP 17,657 0 0 17,657
HAWKINS DELAFIELD & WOOD LLP 15,000 0 0 15,000
DECOTIIS, FITZPATRICK, COLE & GIBLIN, LLP 13,832 0 0 12,147
MOORE & VAN ALLEN, PLLC 11,000 0 0 11,000


TY 2023 OtherAssetsSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DEFERRED BOND ISSUANCE COSTS 722,977 692,843 692,843
COLLECTIBLES 1,000    


TY 2023 OtherDecreasesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Amount
CHANGE IN POST-RETIREMENT BENEFIT OBLIGATION 218,815


TY 2023 OtherExpensesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MANAGEMENT FEES (PAID TO DDMF) 2,603,502 0 0 2,491,703
OUTSOURCED FARM MAINTENANCE 575,198 0 89,338 458,477
REPAIRS & MAINTENANCE 519,903 0 92,500 429,339
PLANTS AND GROUNDS EXPENSE 495,013 0 0 525,035
INSURANCE 339,417 0 0 415,923
UTILITIES 318,148 0 508 330,955
CLEANING 308,452 0 0 309,744
EQUIPMENT 174,358 0 0 171,739
TELECOMMUNICATIONS 66,481 0 0 66,489
OFFICE SUPPLIES 65,093 0 0 65,093
SOFTWARE EXPENSE 45,663 0 0 45,663
PROFESSIONAL DEVELOPMENT 41,811 0 0 41,811
MEMBERSHIP DUES 24,614 0 0 24,614
PAYROLL PROCESSING 17,120 0 0 17,120
PERMITS & FEES EXPENSES 15,539 0 0 15,884
WILDLIFE 15,011 0 0 15,472
HONORARIA 13,365 0 0 12,865
SECURITY 10,170 0 0 9,570
UNIFORM EXPENSE 9,149 0 0 8,469
BANK FEES 5,000 0 0 5,000
EXTERMINATION EXPENSE 2,687 0 0 2,687
ADVERTISEMENT 1,717 0 0 1,717
POSTAGE 684 0 0 860
EMPLOYEE WELLNESS/EVENT EXPENSES 130 0 0 130


TY 2023 OtherIncomeSchedule2
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
BIKE PROGRAM FEE INCOME 49,094   49,094
EDUCATIONAL PROGRAM FEE INCOME 23,297   23,297
COMMUNITY GARDEN FEE INCOME 16,947   16,947
SOLAR RENEWABLE ENERGY CREDITS 98,207   0
SOLAR DEVELOPMENT REVENUE 92,500   92,500
INSURANCE REIMBURSEMENTS 6,800   0
ELECTRIC CHARGING STATION FEES 508   508


TY 2023 OtherIncreasesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Amount
CHANGE IN VALUE OF INTEREST RATE SWAP 472,729


TY 2023 OtherLiabilitiesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Description Beginning of Year - Book Value End of Year - Book Value
POSTRETIREMENT BENEFIT OBLIGATION 2,161,682 2,380,497
INTEREST RATE SWAP AGREEMENT 1,399,688 926,958
OTHER LIABILITIES 0 3,522


TY 2023 OtherProfessionalFeesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
CONSERVATION & ECO-DESIGN CONSULTING 894,699 0 0 849,105
CONSULTING - ENVIRONMENTAL 54,395 0 0 54,700
CONSULTING - WEB SERVICES 22,220 0 0 22,120
CONSULTING - ARCHITECTURE 0 0 0 98


TY 2023 TaxesSchedule
Name:
DUKE FARMS FOUNDATION
EIN:
13-4008720
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
REAL ESTATE TAXES 259,284 0 0 259,284