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 FREEMAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO RCM PO BOX 5016
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY101855016
A Employer identification number

13-2965090
B Telephone number (see instructions)

(212) 549-5544
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$458,853,819J 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)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 9,947,978 9,947,978  
5a Gross rents............      
b Net rental income or (loss) -57,760
6a Net gain or (loss) from sale of assets not on line 10 29,926,950
b Gross sales price for all assets on line 6a 143,432,422
7 Capital gain net income (from Part IV, line 2)... 29,926,950
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
295,708 150,058  
12 Total. Add lines 1 through 11........ 40,170,636 40,024,986  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,407,437 260,069   1,147,368
14 Other employee salaries and wages...... 60,780 0   60,780
15 Pension plans, employee benefits....... 102,425 0   102,425
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
1,180,744 826,521   354,223
17 Interest............... 80,004 80,004   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
1,058,058 743,052   65,006
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 34,190 0   34,190
21 Travel, conferences, and meetings....... 103,551 0   103,551
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,105,105 983,543   108,699
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,132,294 2,893,189   1,976,242
25 Contributions, gifts, grants paid....... 19,080,000 19,080,000
26 Total expenses and disbursements. Add lines 24 and 25 24,212,294 2,893,189   21,056,242
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 15,958,342
b Net investment income (if negative, enter -0-) 37,131,797
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.............   195,455 195,455
2 Savings and temporary cash investments......... 6,112,740 15,256,737 15,256,737
3 Accounts receivable right arrow545,429
Less: allowance for doubtful accounts right arrow   981,724 545,429 545,429
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) 24,484,033 Click to see attachment
List of Attached Documents:
// Content
37,188,750 		34,713,501
b Investments—corporate stock (attach schedule)....... 207,897,565 Click to see attachment
List of Attached Documents:
// Content
238,078,557 		332,792,062
c Investments—corporate bonds (attach schedule)....... 46,482,957 Click to see attachment
List of Attached Documents:
// Content
34,897,569 		33,421,678
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
57,388,484 		Click to see attachment
List of Attached Documents:
// Content
32,626,964 		Click to see attachment
List of Attached Documents:
// Content
41,928,957
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 343,347,503 358,789,461 458,853,819
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 343,347,503 358,789,461
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 343,347,503 358,789,461
30 Total liabilities and net assets/fund balances (see instructions). 343,347,503 358,789,461
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
343,347,503
2
Enter amount from Part I, line 27a .....................
2
15,958,342
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
359,305,845
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
516,384
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
358,789,461
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 P    
b 5500 FUND P    
c 5500 FUND P    
d 2006 SPECIAL GLOBAL OPPORTUNITIES P    
e ROCKEFELLER ACCESS FUND 06 P    
ROCKEFELLER ACCESS FUND 2015 P    
PERENNIAL IV P    
5500 FUND P    
2006 SPECIAL GLOBAL OPPORTUNITIES P    
PERENNIAL III P    
PERENNIAL III P    
ROCKEFELLER ACCESS FUND 06 P    
ROCKEFELLER ACCESS FUND 06 P    
ROCKEFELLER ACCESS FUND 2015 P    
ROCK ALTERNATIVE STRATEGIES FUND P    
PERENNIAL IV P    
2006 SPECIAL GLOBAL OPPORTUNITIES - 1256 P    
ROCKEFELLER ACCESS FUND 06 - 1256 P    
ROCKEFELLER ACCESS FUND 2015 - 1256 P    
PERENNIAL III - 1231 P    
ROCKEFELLER ACCESS FUND 06 - 1231 P    
ROCKEFELLER ACCESS FUND 2015 - 1231 P    
PERENNIAL IV - 1231 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 141,022,388   112,544,550 28,477,838
b     770,965 -770,965
c 462,662     462,662
d     22 -22
e 2,503     2,503
28,926     28,926
238     238
1,094,812     1,094,812
21,122     21,122
    2,537 -2,537
283     283
27,887     27,887
    155,872 -155,872
716,617     716,617
848     848
19,748     19,748
    720 -720
    961 -961
3,239     3,239
    29,845 -29,845
14,269     14,269
9,524     9,524
7,356     7,356
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       28,477,838
b       -770,965
c       462,662
d       -22
e       2,503
      28,926
      238
      1,094,812
      21,122
      -2,537
      283
      27,887
      -155,872
      716,617
      848
      19,748
      -720
      -961
      3,239
      -29,845
      14,269
      9,524
      7,356
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 29,926,950
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) 1 516,132
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........................... 3 516,132
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- ..... 5 516,132
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 528,686
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.............. 7 528,686
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 12,554
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow12,554 Refundedright arrow 11 0
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
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.
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 arrowNY
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 arrowN/A
14
The books are in care ofright arrowROCKEFELLER CAPITAL MANAGEMENT Telephone no.right arrow (212) 549-5544

Located atright arrowPO BOX 5016NEW YORKNY ZIP+4right arrow101855016
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)
Yes
 
(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
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
GRAEME FREEMAN TRUSTEE,PRESIDENT
40.00 		425,000 15,963 0
C/O FREEMAN FOUNDATION 1601 EAST
WEST ROAD
HONOLULU,HI96848
DAVID R STACK TRUSTEE
5.00 		278,394 0 0
260 MADISON AVENUE
NEW YORK,NY10016
GEORGE S TSANDIKOS TRUSTEE
5.00 		163,504 0 0
C/O ROCK CO 45 ROCKEFELLER PLZ 5TH
FLOOR
NEW YORK,NY10111
SHEREEN GOTO DIRECTOR
40.00 		170,093 15,963 0
C/O FREEMAN FOUNDATION 1601 EAST
WEST ROAD
HONOLULU,HI96848
JUEFEI WANG DIRECTOR
40.00 		158,188 7,141 0
C/O FREEMAN FOUNDATION 1601 EAST
WEST ROAD
HONOLULU,HI96848
ALEC FREEMAN DIRECTOR
40.00 		117,394 23,883 0
C/O FREEMAN FOUNDATION 1601 EAST
WEST ROAD
HONOLULU,HI96848
ROBIN SATO DIRECTOR
40.00 		94,864 23,883 0
C/O FREEMAN FOUNDATION 1601 EAST
WEST ROAD
HONOLULU,HI96848
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
NONE
Total number of other employees paid over $50,000...................right arrow 0
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
RFS OPCO LLC INV,ACCOUNTING, TAX 1,180,744
45 ROCKEFELLER PLAZA 5TH FLOOR
NEW YORK,NY10111
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  
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
408,277,784
b
Average of monthly cash balances.......................
1b
18,762,935
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
427,040,719
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
427,040,719
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
6,405,611
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
420,635,108
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
21,031,755
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
21,031,755
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
516,132
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
28,650
c
Add lines 2a and 2b............................
2c
544,782
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
20,486,973
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
20,486,973
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
20,486,973
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
21,056,242
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
 
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
21,056,242
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 20,486,973
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 19,694,712
b Total for prior years:20 , 20, 20 0
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 ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 21,056,242
a Applied to 2022, but not more than line 2a 19,694,712
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 1,361,530
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 .......... 		0
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...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		19,125,443
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) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
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....  
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).)
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 e-mail address of the person to whom applications should be addressed:
THE FREEMAN FOUNDATION
1601 EAST WEST ROAD
HONOLULU,HI96848
(808) 944-7663
bThe form in which applications should be submitted and information and materials they should include:
COVER LETTER WITH PERTINENT INFORMATION REQUESTED IN ANNUAL REPORT
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
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

AMERICAN RED CROSS - HAWAII CHAPTER

4155 DIAMOND HEAD ROAD
HONOLULU,HI96816 		  PC GENERAL SUPPORT 100,000

APPALACHIAN STATE UNIVERSITY FOUNDATION

PO BOX 32064
BOONE,NC286082064 		  PC GENERAL SUPPORT 35,500

ASIA INSTITUTE - CRANE HOUSE

1244 SOUTH THIRD STREET
LOUISVILLE,KY40203 		  PC GENERAL SUPPORT 38,000

ASIA SOCIETY TEXAS

1370 SOUTHMORE BOULEVARD
HOUSTON,TX77004 		  PC GENERAL SUPPORT 200,000

BLAKEMORE FOUNDATION

14020 SE 13TH PLACE APT 105
BELLEVUE,WA980075555 		  PF GENERAL SUPPORT 300,000

BUFFALO NATIONS GRASSLANDS ALLIANCE

PO BOX 71
LOWER BRULE,SD57548 		  PC GENERAL SUPPORT 150,000

CFES BRILLIANT PATHWAYS

2303 MAIN STREET PO BOX 247
ESSEX,NY129360247 		  PC GENERAL SUPPORT 267,000

CHAMPLAIN COLLEGE

PO BOX 670
BURLINGTON,VT05402 		  PC GENERAL SUPPORT 50,000

COLLEGE OF WILLIAM AND MARY FOUNDATION

5300 DISCOVERY PARK BOULEVARD THIRD
FLOOR
WILLIAMSBURG,VA23188 		  PC GENERAL SUPPORT 100,000

COLUMBIA UNIV WEATHERHEAD EAST ASIAN INST

420 WEST 118TH STREET
NEW YORK,NY10027 		  PC GENERAL SUPPORT 510,785

DAVIDSON COLLEGE

102 NORTH MAIN STREET
DAVIDSON,NC28036 		  PC GENERAL SUPPORT 100,000

DREXEL UNIVERSITY

3141 CHESTNUT STREET
PHILADELPHIA,PA191042875 		  PC GENERAL SUPPORT 200,000

EARLHAM COLLEGE

801 NATIONAL ROAD WEST
RICHMOND,IN47374 		  PC GENERAL SUPPORT 70,000

EAST-WEST CENTER FOUNDATION

1601 EAST-WEST ROAD
HONOLULU,HI968481601 		  PC GENERAL SUPPORT 276,150

ENDICOTT COLLEGE

376 HALE STREET
BEVERLY,MA01915 		  PC GENERAL SUPPORT 47,000

FIRST NATIONS DEVELOPMENT INSTITUTE

2432 MAIN ST STE 200
LONGMONT,CO80501 		  PC GENERAL SUPPORT 500,000

FIVE COLLEGES INCORPORATED

36 KING STREET
NORTHAMPTON,MA01060 		  PC GENERAL SUPPORT 479,003

FLORIDA INTERNATIONAL UNIVERSITY

UNIVERSITY PARK DM 363
MIAMI,FL33199 		  PC GENERAL SUPPORT 11,440

FURMAN UNIVERSITY

3300 POINTSETT HIGHWAY
GREENSVILLE,SC296136483 		  PC GENERAL SUPPORT 74,000

GEORGIA STATE UNIVERSITY RESEARCH FOUNDATION

58 EDGEWOOD AVE NE FL 3
ATLANTA,GA30303 		  PC GENERAL SUPPORT 17,959

HAWAII COMMUNITY FOUNDATION

827 FORT STREET MALL
HONOLULU,HI96813 		  PC GENERAL SUPPORT 2,800,000

HIMALAYAN CATARACT PROJECT INC

PO BOX 55
WATERBURY,VT05676 		  PC GENERAL SUPPORT 50,000

HISTORIC HAWAII FOUNDATION

680 IWILEI ROAD SUITE 690
HONOLULU,HI96817 		  PC GENERAL SUPPORT 233,100

INSTITUTE OF INTERNATIONAL EDUCATION INC

809 UNITED NATIONS PLAZA 9TH FLOOR
NEW YORK,NY10017 		  PC GENERAL SUPPORT 1,330,000

INTERNATIONAL STUDENT CONFERENCES INC

1150 18TH STREET NW SUITE LL2
WASHINGTON,DC20036 		  PC GENERAL SUPPORT 50,000

JAPAN-AMERICA SOCIETY OF HAWAII

PO BOX 1412
HONOLULU,HI968061412 		  PC GENERAL SUPPORT 70,500

JAPAN-AMERICA SOCIETY OF OREGON

312 NW SECOND AVENUE
PORTLAND,OR97209 		  PC GENERAL SUPPORT 20,000

JAPANESE CULTURAL CENTER OF HAWAII

2454 SOUTH BERETANIA STREET
HONOLULU,HI96826 		  PC GENERAL SUPPORT 25,000

KUPU

677 ALA MOANA BLVD SUITE 1200
HONOLULU,HI96813 		  PC GENERAL SUPPORT 300,000

MAG AMERICA INC

1776 K STREET NW SUITE 700
WASHINGTON,DC20006 		  PC GENERAL SUPPORT 1,200,000

MIDDLEBURY INSTITUTE OF INTERNATIONAL STUDIES AT MONTEREY

460 PIERCE STREET
MONTEREY,CA93940 		  PC GENERAL SUPPORT 70,000

NATIONAL ASSOCIATION OF JAPAN-AMERICA SOCIETIES INCORPORATED

733 FIFTEENTH STREET NW SUITE 700
WASHINGTON,DC20005 		  PC GENERAL SUPPORT 705,000

PACIFIC AND ASIAN AFFAIRS COUNCIL

1601 EAST-WEST ROAD - 4TH FLOOR
HONOLULU,HI968481601 		  PC GENERAL SUPPORT 200,000

PRESERVATION TRUST OF VERMONT

104 CHURCH STREET
BURLINGTON,VT05401 		  PC GENERAL SUPPORT 306,100

PUNAHOU SCHOOL

1601 PUNAHOU STREET
HONOLULU,HI96822 		  PC GENERAL SUPPORT 100,000

SAINT MICHAEL'S COLLEGE

ONE WINOOSKI PARK BOX 1
COLCHESTER,VT05439 		  PC GENERAL SUPPORT 75,000

SAVE THE CHILDREN FEDERATION

1101 14TH STREET NW
WASHINGTON,DC20005 		  PC GENERAL SUPPORT 1,000,000

SHELBURNE FARMS

1611 HARBOR ROAD
SHELBURNE,VT05482 		  PC GENERAL SUPPORT 250,000

SPICESTANFORD UNIVERSITY

6109 YEADON WAY ENCINA HALL E016
SAN JOSE,CA95119 		  PC GENERAL SUPPORT 50,000

ST LAWRENCE UNIVERSITY

23 ROMODA DRIVE
CANTON,NY13617 		  PC GENERAL SUPPORT 62,000

STANFORD UNIVERSITY

459 LAGUNITA DR STE 7
STANFORD,CA94305 		  PC GENERAL SUPPORT 40,000

TEXAS CHRISTIAN UNIVERSITY

TCU BOX 297023
FORTH WORTH,TX76129 		  PC GENERAL SUPPORT 27,600

THE CENTER FOR AN AGRICULTURAL ECONOMY

PO BOX 422
HARDWICK,VT05843 		  PC GENERAL SUPPORT 300,000

THE TRUSTEES OF PRINCETON UNIVERSITY

5 NEW SOUTH BUILDING
PRINCETON,NJ08544 		  PC GENERAL SUPPORT 20,000

TRUSTEES OF INDIANA UNIVERSITY

PO BOX 78000
DETROIT,MI482780867 		  PC GENERAL SUPPORT 180,000

TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA

3451 WALNUT STREET SUITE 305
PHILADELPHIA,PA19104 		  PC GENERAL SUPPORT 200,000

TUCSON REFUGEE MINISTRY

631 N SECOND AVENUE
TUCSON,AZ85705 		  PC GENERAL SUPPORT 175,000

UNITED STATES-INDONESIA SOCIETY

1625 MASSACHUSETTS AVENUE NW SUITE
550
WASHINGTON,DC20036 		  PC GENERAL SUPPORT 40,500

UNITED STATES-JAPAN BRIDGING FOUNDATION INC

1201-15TH TREET NW
WASHINGTON,DC20005 		  PC GENERAL SUPPORT 100,000

UNIVERSITY OF CALIFORNIA - SANTA BARBARA

5221 CHEADLE HALL
SANTA BARBARA,CA93106 		  PC GENERAL SUPPORT 46,000

UNIVERSITY OF CENTRAL ARKANSAS

MCCASTLAIN HALL 002 201 DONAGHEY
AVE
CONWAY,AR72035 		  PC GENERAL SUPPORT 16,499

UNIVERSITY OF COLORADO FOUNDATION

CENTER FOR ASIAN STUDIES 279 UCB
BOULDER,CO803090279 		  PC GENERAL SUPPORT 455,700

UNIVERSITY OF HAWAII FOUNDATION

4303 DIAMOND HEAD ROAD
HONOLULU,HI96816 		  PC GENERAL SUPPORT 127,000

UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL

223 EAST FRANKLIN STREET
CHAPEL HILL,NC275995145 		  PC GENERAL SUPPORT 25,000

UNIVERSITY OF PITTSBURGH

4400 WESLEY W POSVAR HALL
PITTSBURGH,PA15260 		  PC GENERAL SUPPORT 556,182

UNIVERSITY OF SOUTH CAROLINA

147 GAMBRELL HALL
COLUMBIA,SC29208 		  PC GENERAL SUPPORT 150,000

UNIVERSITY OF SOUTHERN CALIFORNIA

3710 MCCLINTOCK AVENUE RTH 502
LOS ANGELES,CA900894019 		  PC GENERAL SUPPORT 591,116

UNIVERSITY OF TENNESSEE AT CHATTANOOGA

150B PATTEN CHAPEL DEPT 4154 615
MCCALLIE AVENUE
CHATTANOOGA,TN37403 		  PC GENERAL SUPPORT 34,991

UNIVERSITY OF TEXAS AT AUSTIN

222 RIO GRANDE SUITE 2201C
AUSTIN,TX78705 		  PC GENERAL SUPPORT 50,000

UNIVERSITY OF THE SOUTH SEWANEE

735 UNIVERSITY AVENUE
SEWANEE,TN373831000 		  PC GENERAL SUPPORT 52,150

UNIVERSITY OF WASHINGTON FOUNDATION

4333 BROOKLYN AVE NE BOX 359504
SEATTLE,WA981959504 		  PC GENERAL SUPPORT 433,725

VERMONT CHINESE SCHOOL

PO BOX 9209
SOUTH BURLINGTON,VT05403 		  PC GENERAL SUPPORT 11,000

VERMONT LAND TRUST

8 BAILEY AVENUE
MONTPELIER,VT05602 		  PC GENERAL SUPPORT 2,400,000

VERMONT LEARNING COLLABORATIVE INC

53 GREEN STREET
BRATTLEBORO,VT05301 		  PC GENERAL SUPPORT 25,000

VILLANOVA UNIVERSITY

800 LANCASTER AVE
VILLANOVA,PA190851699 		  PC GENERAL SUPPORT 180,000

VOLUNTEERS IN ASIA

995 MARKET ST STE 2
SAN FRANCISCO,CA94103 		  PC GENERAL SUPPORT 44,000

WETA

3939 CAMPBELL AVENUE
ARLINGTON,VA22206 		  PC GENERAL SUPPORT 200,000

WING LUKE MEMORIAL FOUNDATION INC

719 SOUTH KING STREET
SEATTLE,WA98104 		  PC GENERAL SUPPORT 100,000

WORLD AFFAIRS COUNCIL SEATTLE

241 PERKINS LANE
LOPEZ ISLAND,WA98261 		  PC GENERAL SUPPORT 75,000
Total .................................right arrow 3a 19,080,000
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
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 ........... 		         
4 Dividends and interest from securities ....     14 9,947,978  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 -57,760  
6 Net rental income or (loss) from personal property          
7 Other investment income ..... 900099 145,650 14 150,058  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 29,926,950  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 145,650 39,967,226 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
40,112,876
(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

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

TY 2023 ExpenditureResponsibilityStmt
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
BLAKEMORE FOUNDATION
  		PO BOX 50347
BELLEVUE,WA98015 		2023-08-15 300,000 SEE ATTACHED   NO SEE ATTACHED    
BLAKEMORE FOUNDATION
  		PO BOX 50347
BELLEVUE,WA98015 		2022-08-16 300,000 SEE ATTACHED 173,900 NO SEE ATTACHED    
BLAKEMORE FOUNDATION
  		PO BOX 50347
BELLEVUE,WA98015 		2021-08-10 300,000 SEE ATTACHED 300,000 NO SEE ATTACHED    

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Name of Bond End of Year Book Value End of Year Fair Market Value
AERCAP HOLDINGS NV 5.8750% 10/10/2079 446,353 450,941
AERCAP IRELAND CAP/GLOBA 3.0000% 29/10/2028 824,440 752,949
APPLE INC 3.3500% 08/08/2032 232,272 235,841
AT&T INC 1.7000% 25/03/2026 1,101,156 1,034,209
BANK OF AMERICA CORP 4.2440% 24/04/2038 854,939 715,527
BOEING CO 5.1500% 01/05/2030 512,442 539,170
CITIGROUP INC 3.5200% 27/10/2028 969,962 928,044
CVS HEALTH CORP 3.2500% 15/08/2029 551,154 476,528
FIFTH THIRD BANCORP 6.3610% 27/10/2028 345,900 364,218
GOLDMAN SACHS GROUP INC 2.6150% 22/04/2032 608,055 667,187
HOME DEPOT INC 5.8750% 16/12/2036 1,226,595 1,197,111
JPMORGAN CHASE & CO 4.9120% 25/07/2033 994,462 1,023,586
MORGAN STANLEY 2.9430% 21/01/2033 794,423 705,226
PFIZER INVESTMENT ENTER 4.4500% 19/05/2026 289,661 290,783
PFIZER INVESTMENT ENTER 4.7500% 19/05/2033 149,775 151,142
PNC FINANCIAL SERVICES 5.5820% 12/06/2029 350,667 358,152
PRUDENTIAL FINANCIAL INC 3.7000% 01/10/2050 331,979 332,762
PRUDENTIAL FINANCIAL INC 5.1250% 01/03/2052 782,003 794,260
REINSURANCE GRP OF AMER 8.2559% 15/12/2065 857,401 754,661
TRUIST FINANCIAL CORP 6.0470% 08/06/2027 346,395 352,638
US BANCORP 2.6770% 27/01/2033 348,141 366,535
VERIZON COMMUNICATIONS 2.6500% 20/11/2040 1,286,741 976,383
WELLS FARGO & COMPANY 0.8050% 19/05/2025 490,977 485,758
ALLY FINANCIAL INC 4.7000% PERP 828,597 775,843
AMERICAN EXPRESS CO 3.5500% PERP 758,059 755,902
BANK OF AMERICA CORP 4.3750% PERP 770,000 794,429
BANK OF AMERICA CORP 6.3000% PERP 791,543 762,537
BANK OF NY MELLON CORP 3.7500% PERP 371,813 390,434
BANK OF NY MELLON CORP 4.6250% PERP 423,355 400,508
BNSF FUNDING TRUST I 6.6130% 15/12/2055 469,097 427,435
CAPITAL ONE FINANCIAL CO 3.9500% PERP 963,188 774,653
CHARLES SCHWAB CORP 4.0000% PERP 470,081 545,322
CHARLES SCHWAB CORP 4.0000% PERP 334,294 287,723
CITIGROUP INC 4.0000% PERP 870,566 794,571
DISCOVER FINANCIAL SVS 6.1250% PERP 736,542 719,269
FIFTH THIRD BANCORP 4.5000% PERP 847,414 785,588
GENERAL MOTORS FINL CO 5.7000% PERP 550,995 586,781
GOLDMAN SACHS GROUP INC 3.6500% PERP 722,372 852,888
GOLDMAN SACHS GROUP INC 7.5000% PERP 713,064 782,684
HUNTINGTON BANCSHARES 5.6250% PERP 795,358 770,129
JPMORGAN CHASE & CO 3.6500% PERP 565,031 566,729
JPMORGAN CHASE & CO 6.1250% PERP 827,759 815,719
KEYCORP 5.0000% PERP 904,836 766,840
PNC FINANCIAL SERVICES 6.2000% PERP 780,846 764,345
PNC FINANCIAL SERVICES 6.2500% PERP 641,559 604,339
TRUIST FINANCIAL CORP 4.8000% PERP 370,549 345,798
TRUIST FINANCIAL CORP 4.9500% PERP 280,507 249,956
TRUIST FINANCIAL CORP 5.1000% PERP 698,960 585,875
US BANCORP 3.7000% PERP 867,594 781,207
WELLS FARGO & COMPANY 3.9000% PERP 878,301 796,145
WELLS FARGO & COMPANY 7.6250% PERP 712,663 746,970
CITIGROUP INC 7.6250% PERP 623,908 645,252
CITIZENS FINANCIAL GROUP 5.6500% PERP 632,825 592,196

TY 2023 InvestmentsCorpStockSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES COM NPV 39 110
ADVANCED MICRO DEVICES INC COM STK USD0.01 3,389,781 6,628,291
ADYEN NV EUR0.01 1,385,753 2,593,589
AERCAP HOLDINGS N.V. EUR0.01 3,379,505 4,234,456
AIR LIQUIDE(L') EUR5.50 4,356,964 5,587,275
ALCON AG CHF0.04 33 78
ALLSTATE CORP COM USD0.01 4,473,696 4,780,317
AMADEUS IT GROUP SA 1,785,868 2,185,752
AMAZON COM INC COM USD0.01 4,305,179 6,984,074
AMERICAN EXPRESS CO COM USD0.20 4,117,612 5,208,052
AMGEN INC COM USD0.0001 2,558,909 2,800,418
APPLE INC COM USD0.00001 2,074,042 6,656,917
APPLIED MATERIALS INC COM USD0.01 801,207 3,200,072
AT&T INC COM USD1 4,018,494 4,532,244
BECTON DICKINSON & CO COM USD1.00 2,969,392 3,629,897
BNP PARIBAS EUR2 2,592,311 3,154,926
CAPITALAND INTEGRATED COM TRUST NPV (REAL ESTATE INVESTMENT TRUST) 91,441 98,920
CARRIER GLOBAL CORPORATION COM USD0.01 1,834,688 4,301,913
CENTENE CORPORATION COM USD0.001 4,433,563 4,900,903
COMPAGNIE DE ST-GOBAIN EUR4 2,627,293 5,055,461
DENSO CORP NPV 3,566,421 3,323,932
DEUTSCHE POST AG NPV(REGD) 1,332,980 3,072,168
DEUTSCHE TELEKOM AG NPV(REGD) 213,982 257,353
DISCOVER FINANCIAL SERVICES COM STK USD0.01 4,922,828 9,219,385
ELI LILLY AND COMPANY COM NPV 2,385,728 6,990,960
EPIROC AB SER'A'NPV 1,830,659 1,727,156
GENERAL ELECTRIC CO COM USD0.01 2,069,659 4,668,578
GLOBE LIFE INC COM USD1.00 2,763,013 4,046,703
HITACHI NPV 2,835,976 4,679,923
INTERCONTINENTAL EXCHANGE INC COM USD0.01 3,453,464 4,360,841
IQVIA HOLDINGS INC COM USD0.01 3,302,136 3,954,284
KEYSIGHT TECHNOLOGIES INC COM USD0.01 WD 1,949,662 3,002,665
KINDER MORGAN INC COM USD0.01 2,942,440 2,982,430
KONINKLIJKE PHILIPS NV EUR0.20 5,264,950 2,839,504
KT CORPORATION KRW5000 3,077,858 3,133,229
LG CORP KRW5000 2,037,595 1,984,634
LLOYDS BANKING GROUP ORD GBP0.1 5,168,344 4,435,632
META PLATFORMS INC COM USD0.000006 CL 'A' 5,645,632 15,680,428
MICROSOFT CORP COM USD0.00000625 835,996 13,733,733
MITSUBISHI UFJ FINANCIAL GROUP INC NPV 1,430,787 1,377,847
NINTENDO CO LTD NPV 4,956,537 5,797,035
ONEMAIN HLDGS INC USD0.01 2,657,493 2,565,928
OVERSEA-CHINESE BANKING CORP NPV 3,305,643 3,700,220
PPG INDUSTRIES INC COM USD1.666 2,958,467 3,286,062
REINSURANCE GROUP OF AMERICA COM USD0.01 5,679,089 9,475,293
RELX PLC GBP0.1444 1,590,085 2,353,504
RENTOKIL INITIAL ORD GBP0.01 3,910,986 3,674,016
ROCHE HOLDINGS AG GENUSSCHEINE NPV 5,528,727 4,808,054
SAMSUNG ELECTRONICS CO KRW100 4,430,454 6,560,601
SCHNEIDER ELECTRIC SE EUR4.00 2,618,361 5,367,717
SONY GROUP CORPORATION NPV 2,096,679 5,239,061
SVENSKA HANDELSBANKEN AB SER'A'NPV 4,368,934 5,019,326
SWEDBANK AB SER'A'NPV 3,925,278 5,337,183
TE CONNECTIVITY LTD COM CHF0.57 2,265,707 3,876,114
TRANSUNION COM USD0.01 4,559,820 4,936,676
UBER TECHNOLOGIES INC COM USD0.00001 2,039,235 4,121,927
VESTAS WIND SYSTEMS DKK0.20 1,608,444 1,885,089
VISA INC COM STK USD0.0001 'A' 1,209,704 5,041,157
WEX INC COM USD0.01 3,024,554 3,368,828
WILLIS TOWERS WATSON PLC COM USD0.000304635 3,063,760 3,791,664
ROCKEFELLER US SMALL CAP CORE FUND 48,465,189 51,521,552
ICICI BANK LIMITED SPON ADR EACH REPR 2 ORD SHS 1,195,700 3,126,616
KT CORPORATION SPON ADR EACH REP 1/2 ORD SHS KRW5000 306,951 282,549
SHELL PLC SPON ADS EA REP 2 ORD SHS 7,432,637 8,515,046
TOTALENERGIES SE SPON ADS EA REP 1 ORD SHS 4,124,231 4,715,387
VANGUARD SCOTTSDALE FDS VANGUARD MTG BACKED SECS ETF 1,803,902 1,657,370
AT&T INC DEP SHS EACH REP 1/1000TH PERP PFD SER C 521,087 472,691
SAMSUNG ELECTRONICS CO N/VTG PFD KRW100 205,023 290,346

TY 2023 InvestmentsGovtObligationsSch
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
US Government Securities - End of Year Book Value:

28,972,649
US Government Securities - End of Year Fair Market Value:

27,511,749
State & Local Government Securities - End of Year Book Value:


8,216,101
State & Local Government Securities - End of Year Fair Market Value:


7,201,752


TY 2023 OtherAssetsSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
5500 FUND, LP 19,240,080 0 0
2006 SPECIAL GLOBAL OPPORTUN. 121,305 153,535 110,983
ROCKEFELLER ACCESS FD 06-I 6,731,983 6,070,687 8,132,708
ROCKEFELLER ALT STRATEGIES QP 337,020 339,012 23,576
ROCKEFELLER ACCESS FUND 2015 7,703,135 8,028,958 11,192,761
PERENNIAL REAL ESTATE FUND III 867,604 850,404 761,265
PERENNIAL REAL ESTATE FUND IV 1,301,489 1,418,310 1,767,526
VANTAGEROCK CAPITAL FUND (LP) 15,000,000 15,000,000 19,121,655
VANGUARD FEDERAL MONEY MARKET 5,800,000 0 0
ROCKEFELLER PRIVATE EQUITY PAR 285,868 766,058 818,483


TY 2023 OtherDecreasesSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Description Amount
PRIOR PERIOD ADJUSTMENT 516,384


TY 2023 OtherExpensesSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SUPPLIES / OFFICE EXPENSE 17,647 0   17,647
INSURANCE 6,629 0   6,629
BANK FEES 18,044 18,044   0
MISCELLANEOUS 4,681 0   0
PASSTHROUGH EXPENSES 907,739 907,739   0
PARKING FEES 8,182 0   0
IT EXPENSES 84,423 0   84,423
PASSTHROUGH RENTAL EXPENSES 57,760 57,760   0


TY 2023 OtherIncomeSchedule2
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
LITIGATION CHECKS 233,747 233,747 233,747
PASSTHROUGH INCOME 9,862 9,862 9,862
ROCK SMALL CAP CORE 52,099 52,099 52,099
UBIT -145,650 -145,650 -145,650
UBIT 145,650 0 145,650


TY 2023 OtherProfessionalFeesSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
RTC AGENCY FEES 1,180,744 826,521   354,223


TY 2023 TaxesSchedule
Name:
THE FREEMAN FOUNDATION
EIN:
13-2965090
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 743,052 743,052   0
FEDERAL TAXES 250,000 0   0
CHAR500 1,500 0   1,500
PAYROLL TAXES 63,506 0   63,506