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 NORMAN & SADIE LEE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO CLA 925 CENTURY PARK E 16TH F
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LOS ANGELES, CA90266
A Employer identification number

95-3333368
B Telephone number (see instructions)

(310) 273-2501
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$35,553,926J 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... 993,518 1,011,772  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -1,043,201
b Gross sales price for all assets on line 6a 10,515,596
7 Capital gain net income (from Part IV, line 2)... 0
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
-57,891 -59,723  
12 Total. Add lines 1 through 11........ -107,574 952,049  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
84,735 39,518   42,367
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
161,717 161,717   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,826 9,428   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 30,026 0   30,026
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,730 0   2,730
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 289,034 210,663   75,123
25 Contributions, gifts, grants paid....... 1,832,000 1,832,000
26 Total expenses and disbursements. Add lines 24 and 25 2,121,034 210,663   1,907,123
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,228,608
b Net investment income (if negative, enter -0-) 741,386
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 337,873 1,712,207 1,712,207
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,314,920 Click to see attachment
List of Attached Documents:
// Content
1,219,293 		1,119,592
b Investments—corporate stock (attach schedule)....... 18,063,206 Click to see attachment
List of Attached Documents:
// Content
9,586,780 		11,169,456
c Investments—corporate bonds (attach schedule)....... 7,655,082 Click to see attachment
List of Attached Documents:
// Content
6,487,878 		6,550,016
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).......... 7,544,506 Click to see attachment
List of Attached Documents:
// Content
13,671,800 		14,996,321
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
0 		Click to see attachment
List of Attached Documents:
// Content
9,021 		Click to see attachment
List of Attached Documents:
// Content
6,334
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 34,915,587 32,686,979 35,553,926
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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 34,915,587 32,686,979
29 Total net assets or fund balances (see instructions)..... 34,915,587 32,686,979
30 Total liabilities and net assets/fund balances (see instructions). 34,915,587 32,686,979
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
34,915,587
2
Enter amount from Part I, line 27a .....................
2
-2,228,608
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
32,686,979
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
32,686,979
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b PARTNERSHIP CAPITAL LOSSES P   2023-12-31
c CAPITAL GAINS DIVIDENDS P    
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 9,865,139   10,885,639 -1,020,500
b       -16,038
c 1,418     1,418
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       -1,020,500
b       -16,038
c       1,418
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 -1,035,120
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 10,305
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 10,305
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 10,305
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 26,285
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 26,285
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 15,980
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow15,980 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
 
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 arrowCA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowCLIFTONLARSONALLEN LLP Telephone no.right arrow (310) 273-2501

Located atright arrow1925 CENTURY PARK EAST 16TH FLLOS ANGELESCA ZIP+4right arrow90067
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
PAUL JAMES DIRECTOR AND PRESIDENT
4.00 		0 0 0
1925 CENTURY PARK EAST 16TH FL
LOS ANGELES,CA90067
BRYAN ISAACS DIRECTOR, SECRETARY AND TREASURER
4.00 		0 0 0
1925 CENTURY PARK EAST 16TH FL
LOS ANGELES,CA90067
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
MORGAN STANLEY INVESTMENT MANAGEMENT 161,717
1 NEW YORK PLAZA 12TH FLOOR
NEW YORK,NY10004
CLIFTONLARSONALLEN LLP BOOKKEEPING AND TAX PREPARATION 77,280
220 SOUTH SIXTH STREET SUITE 300
MINNEAPOLIS,MN55402
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
35,056,067
b
Average of monthly cash balances.......................
1b
577,032
c
Fair market value of all other assets (see instructions)................
1c
6,334
d
Total (add lines 1a, b, and c).........................
1d
35,639,433
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
35,639,433
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
534,591
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
35,104,842
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,755,242
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
1,755,242
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
10,305
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
10,305
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,744,937
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,744,937
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
1,744,937
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
1,907,123
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
1,907,123
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 1,744,937
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 1,801,006
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$ 1,907,123
a Applied to 2022, but not more than line 2a 1,801,006
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..... 106,117
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 .......... 		1,638,820
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 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

AL OTRO LADO

PO BOX 32578
LOS ANGELES,CA90032 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

AMERICAN FRIENDS OF MAGEN DAVID ADOM (AFMDA)

20 W 36TH STREET 1100
NEW YORK,NY10018 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 500,000

BURN INSTITUTE

8825 AERO DR 200
SAN DIEGO,CA92123 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

CENTER THEATRE GROUP

601 W TEMPLE ST
LOS ANGELES,CA90012 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 135,000

CHP 11-99 FOUNDATION

3188 AIRWAY AVE STE C
COSTA MESA,CA92626 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

CITY OF HOPE

1500 E DUARTE RD
DUARTE,CA91010 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 25,000

DISABLED SPORTS EASTERN SIERRA

1 MINARET RD
MAMMOTH LAKES,CA93546 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 8,500

ENTERPRISE FOR YOUTH

200 PINE STREET NO 600
SAN FRANCISCO,CA94104 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 7,500

EXHALE TO INHALE

1732 1ST AVENUE 21133
NEW YORK,NY10128 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

GOLD TRAIL GRANGE

319 CA-49
COLOMA,CA95613 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 10,000

GREATER LOS ANGELES ZOO ASSOCIATION

5333 ZOO DRIVE
LOS ANGELES,CA90027 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 3,000

LAURA'S HOUSE

999 CORPORATE DR 225
LADERA RANCH,CA92694 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

LIFEMOVES

181 CONSTITUTION DRIVE
MENLO PARK,CA94025 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 10,000

LOS ANGELES MUSEUM OF THE HOLOCAUST

100 THE GROVE DR
LOS ANGELES,CA90036 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

LOS ANGELES OPERA

135 N GRAND AVE
LOS ANGELES,CA90012 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 160,000

LOS ANGELES PHILHARMONIC

111 S GRAND AVE
LOS ANGELES,CA90012 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 457,500

MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST

1999 AVE OF THE STARS SUITE 2400
LOS ANGELES,CA90067 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 225,000

PREVENT DROWNING FOUNDATION OF SAN DIEGO

PO BOX 90622
SAN DIEGO,CA92169 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

SKIRBALL CULTURAL CENTER

2701 N SEPULVEDA BLVD
LOS ANGELES,CA90049 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 50,000

SOS OUTREACH

PO BOX 2020
AVON,CO81620 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

THE UCLA FOUNDATION

10920 WILSHIRE BLVD 900
LOS ANGELES,CA90024 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 20,000

USC ASSOCIATES

1150 S OLIVE ST SUITE 2000
LOS ANGELES,CA90015 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 128,000

VENICE FAMILY CLINIC

604 ROSE AVE
VENICE,CA90291 		  PC PUBLIC SUPPORT OF ORGANIZATION MISSION 60,000
Total .................................right arrow 3a 1,832,000
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 .... 901101 84 14 993,434  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     01 1,112  
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 9,198 18 -1,052,399  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPARTNERSHIP ORDINARY LOSS 		901101 -14,791 01 -44,212  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -5,509 -102,065 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
-107,574
(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

TY 2023 AccountingFeesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 84,735 39,518   42,367

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Name of Bond End of Year Book Value End of Year Fair Market Value
QVC INC 37,880 38,626
SBA COMMUNICATIONS CORP 34,178 31,654
EXPEDIA INC 41,090 43,371
ENCOMPASS HEALTH CORP 40,444 43,130
DISCOVERY COMMUNICATIONS LLC 17,343 15,654
CARRIER GLOBAL CORP 35,280 35,828
WILLIS NORTH AMERICA INC 34,983 35,720
BROADCOM CORP / BROADCOM CAYMAN FINANCE LTD 34,601 34,165
ALTRIA GROUP INC 51,223 49,928
MOTOROLA SOLUTIONS INC 37,072 38,798
ALLEGION US HOLDING CO INC 33,370 33,369
AMERICAN TOWER CORP 32,454 32,616
ORACLE CORP 41,387 44,608
NEWELL BRANDS INC 6,045 5,971
AMERICAN TOWER CORP 6,117 5,902
HP INC 31,293 27,431
MOLSON COORS BEVERAGE CO 45,701 42,180
CARLISLE COS INC 48,622 46,058
BLOCK FINANCIAL LLC 48,852 50,472
DICK'S SPORTING GOODS INC 49,453 53,798
HCA INC 50,782 48,128
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 6,463 5,976
TENET HEALTHCARE CORP 14,400 14,927
STEEL DYNAMICS INC 13,415 14,264
WILLIS NORTH AMERICA INC 13,661 13,667
SBA COMMUNICATIONS CORP 30,336 33,280
HP INC 29,032 30,125
BERRY GLOBAL INC 55,290 57,663
BROADCOM INC 4,540 3,909
EXPEDIA GROUP INC 14,509 14,977
NEWELL BRANDS INC 56,000 55,823
BOYD GAMING CORP 54,076 53,939
STEEL DYNAMICS INC 31,599 30,179
ALTRIA GROUP INC 9,263 7,930
DOLLAR TREE INC 14,495 14,693
CA INC 18,977 18,510
SERVICE CORP INTERNATIONAL/US 5,400 4,852
HOME DEPOT INC/THE 97,871 95,645
TRANSDIGM INC 61,519 65,814
ZIMMER BIOMET HOLDINGS INC 19,075 17,395
ORACLE CORP 13,969 14,448
AT&T INC 35,616 30,272
FLEX LTD 20,110 20,604
AMERICAN TOWER CORP 20,701 18,044
MOTOROLA SOLUTIONS INC 13,811 13,944
STEEL DYNAMICS INC 12,267 12,467
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 53,402 51,474
ENCOMPASS HEALTH CORP 22,250 23,590
MICROCHIP TECHNOLOGY INC 57,191 56,155
CONAGRA BRANDS INC 22,819 19,829
GLOBAL PAYMENTS INC 23,110 22,823
CONAGRA BRANDS INC 23,150 22,015
CARRIER GLOBAL CORP 23,557 20,699
ZIMMER BIOMET HOLDINGS INC 24,628 24,500
HCA INC 10,271 9,054
CARLISLE COS INC 10,064 10,647
AT&T INC 26,342 26,420
DOLLAR TREE INC 28,108 26,535
METLIFE INC 100,774 104,406
QORVO INC 60,182 57,991
QVC INC 28,385 27,827
OLIN CORP 56,140 57,273
DISCOVERY COMMUNICATIONS LLC 40,236 41,973
TEGNA INC 60,035 56,918
BANK OF NEW YORK MELLON CORP FXD TO 102032 VAR THFTR 103,858 106,218
UNION PACIFIC CORP 81,182 81,946
SERVICE CORP INTERNATIONAL/US 59,788 57,956
TRIMBLE INC 58,348 56,417
BAT CAPITAL CORP 60,009 59,103
TORONTO-DOMINION BANK/THE 94,131 96,899
CLOROX CO/THE 97,563 97,047
COMMONWEALTH EDISON CO 95,003 95,401
AMAZON.COM INC 171,930 151,889
CVS HEALTH CORP 100,253 102,625
ALLEGION US HOLDING CO INC 22,548 23,786
FLORIDA POWER & LIGHT CO 99,599 101,160
JOHN DEERE CAPITAL CORP 132,853 124,351
VERIZON COMMUNICATIONS INC 61,101 56,170
MOTOROLA SOLUTIONS INC 3,992 3,961
CDW LLC / CDW FINANCE CORP 59,713 57,586
THERMO FISHER SCIENTIFIC INC 95,499 96,896
BATH & BODY WORKS INC 58,280 64,715
COSTCO WHOLESALE CORP 97,259 98,662
UNITEDHEALTH GROUP INC 76,429 78,808
WALMART INC 96,851 99,063
ASTRAZENECA PLC 88,181 92,104
ALABAMA POWER CO 94,857 93,055
JPM DUAL DIRECTIONAL BUFFERED PLUS SPX 2,000,000 2,108,800
WELLS FARGO & CO 159,720 149,991
KRAFT HEINZ FOODS CO 58,408 55,960
AT&T INC 93,231 93,788
KELLANOVA 172,083 164,776

TY 2023 InvestmentsCorpStockSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Name of Stock End of Year Book Value End of Year Fair Market Value
AMERIPRISE FINCL INC (AMP) 44,140 61,152
ERSTE GROUP BANK AG SPONS ADR (EBKDY) 40,823 43,779
CRH PLC (CRH) 54,681 94,127
ALTRIA GROUP INC (MO) 54,619 44,575
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 54,341 63,371
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 44,687 36,430
ALPHABET INC CL A (GOOGL) 42,845 44,420
BAXTER INTL INC (BAX) 70,086 59,381
GENL DYNAMICS CORP (GD) 39,251 48,039
ECOLAB INC (ECL) 43,975 39,075
APPLE INC (AAPL) 69,083 89,526
EXXON MOBIL CORP (XOM) 52,936 47,191
VERIZON COMMUNICATIONS (VZ) 71,020 76,041
BCE INC (BCE) 72,639 56,158
RTX CORPORATION (RTX) 73,614 65,209
MATERION CORP COM (MTRN) 20,266 28,108
UNILEVER PLC (NEW) ADS (UL) 45,342 40,578
RIO TINTO PLC SPON ADR (RIO) 40,268 39,985
HEINEKEN NV SPN ADR (HEINY) 53,698 52,203
TRAVELERS COMPANIES INC COM (TRV) 32,348 36,765
SOUTHSTATE CORPORATION (SSB) 20,105 26,095
COMCAST CORP (NEW) CLASS A (CMCSA) 52,849 48,586
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 49,352 55,120
JOHNSON CTLS INTL PLC (JCI) 53,310 46,343
JPMORGAN CHASE & CO (JPM) 41,931 47,968
HONEYWELL INTL INC (HON) 42,772 38,796
CVB FINCL CP (CVBF) 25,316 30,871
NETEASE.COM INC ADS (NTES) 40,889 42,947
SAFRAN SA (SAFRY) 52,835 70,063
COTERRA ENERGY INC (CTRA) 29,455 40,449
GLACIER BANCORP INC NEW (GBCI) 25,730 29,131
MASTERCARD INC CL A (MA) 29,398 37,106
CAPITAL ONE FINANCIAL CORP (COF) 30,830 47,334
PROCTER & GAMBLE (PG) 31,137 35,170
MC DONALDS CORP (MCD) 31,333 38,546
U S BANCORP COM NEW (USB) 32,038 41,765
OSHKOSH CORP (OSK) 32,185 31,005
TOTALENERGIES SE SPONSORED ADS (TTE) 43,510 58,284
MAGNA INTERNATIONAL INC (MGA) 64,247 49,214
LOWES COMPANIES INC (LOW) 32,421 34,273
CONSTELLATION BRANDS INC CL A (STZ) 33,018 33,603
DANAHER CORPORATION (DHR) 33,353 35,164
CADENCE BANK (CADE) 33,982 44,030
KDDI CORP UNSPON ADR (KDDIY) 52,594 52,583
TELEDYNE TECH INC (TDY) 34,534 37,964
MITSUI & CO LTD ADR (MITSY) 35,003 37,641
ADDUS HOMECARE CORP COM (ADUS) 23,319 21,726
KENVUE INC (KVUE) 57,888 55,181
SYSCO CORP (SYY) 34,414 29,471
BROOKFIELD CORP CL A (BN) 80,500 83,891
ASSA ABLOY AB UNSP ADR (ASAZY) 53,676 57,770
REALTY INCOME CORP (O) 66,353 68,789
UNION PACIFIC CORP (UNP) 40,073 45,685
HEALTHPEAK PPTYS INC (PEAK) 85,546 61,360
ASHTEAD GROUP PLC ADR (ASHTY) 65,696 76,871
AIA GROUP LTD SPON ADR (AAGIY) 58,455 40,402
BRUKER CORPORATION (BRKR) 21,024 18,958
MERCK & CO INC NEW COM (MRK) 33,056 38,920
XYLEM INC COM (XYL) 28,484 39,454
CAMECO CORP (CCJ) 32,613 74,779
CREDICORP LTD (BAP) 58,100 53,975
EOG RESOURCES INC (EOG) 78,423 81,399
BRISTOL MYERS SQUIBB CO (BMY) 80,687 65,830
DUKE ENERGY CORPORATION (DUK) 82,925 76,370
MICROSOFT CORP (MSFT) 83,034 118,077
PPL CORPORATION (PPL) 93,346 86,693
ACCENTURE PLC IRELAND CL A (ACN) 75,518 94,745
SONY GROUP CORPORATION ADR (SONY) 97,855 83,138
CONAGRA BRANDS INC (CAG) 85,767 64,657
MORGAN STANLEY (MS) 69,844 59,494
PHILIP MORRIS INTL INC (PM) 68,440 62,563
PAN PAC INTL HLDGS CORP ADR (DQJCY) 54,688 72,111
CISCO SYS INC (CSCO) 68,271 56,633
RENTOKIL INITIAL PLC ADR (RTO) 54,925 43,916
ALCON INC (ALC) 56,016 59,371
MEDTRONIC PLC SHS (MDT) 105,794 79,497
PNC FINL SVCS GP (PNC) 27,822 37,474
CADENCE BANK (CADE) 20,054 22,104
MUENCHENER RUECK-UNSPONS ADR (MURGY) 45,768 80,966
SYMRISE AG UNSPONS ADR (SYIEY) 54,190 51,704
STEWART INFORMATION SERVICES (STC) 2,496 3,115
EXPERIAN GP LTD ADR (EXPGY) 47,651 52,044
FERRARI N V (RACE) 47,372 83,254
JPMORGAN CHASE & CO (JPM) 46,917 61,576
OTSUKA HOLDINGS CO LTD UNS ADR (OTSKY) 49,319 49,127
AMAZON COM INC (AMZN) 38,099 42,086
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 38,246 49,595
CROWN CASTLE INC (CCI) 38,465 27,761
AKZO NOBEL NV ADR (AKZOY) 54,326 43,033
MERCK & CO INC NEW COM (MRK) 65,075 75,333
NOVARTIS AG ADR (NVS) 39,947 48,062
TRUIST FINL CORP (TFC) 59,477 59,589
AUTODESK INC DELAWARE (ADSK) 36,070 45,531
CHEVRON CORP (CVX) 59,611 51,013
KUBOTA CP ADR (KUBTY) 61,117 43,510
UNILEVER PLC (NEW) ADS (UL) 61,306 53,425
FANUC CORPORATION UNSP ADR (FANUY) 61,852 37,682
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 62,494 57,014
DOW INC (DOW) 59,322 49,466
DONNELLEY FINL SOLUTIONS INC (DFIN) 1,780 3,430
STERLING INFRASTRUCTURE INC (STRL) 7,371 9,057
XCEL ENERGY INC (XEL) 36,812 34,298
ATMOS ENERGY CP (ATO) 36,448 38,595
R P M INC (RPM) 22,040 40,857
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 27,709 33,886
ICU MEDICAL INC (ICUI) 6,326 5,521
ATLANTIC UN BANKSHARES CORP (AUB) 2,645 2,729
CARTER'S (CRI) 7,440 6,519
NUCOR CORPORATION (NUE) 7,259 8,180
ING GROEP NV ADR (ING) 65,497 80,012
EVERTEC INC (EVTC) 7,192 7,205
ACADEMY SPORTS & OUTDOORS INC (ASO) 7,134 12,737
SELECTIVE INSURANCE GROUP (SIGI) 7,005 15,121
OLD NATL BANCORP IND (ONB) 15,527 16,485
OTTER TAIL CORP (OTTR) 6,870 8,136
CLEAN HARBORS (CLH) 2,881 4,665
GRAPHIC PACKAGING HOLDING CO (GPK) 7,908 8,973
NIDEC CORP (NJDCY) 75,303 25,409
SKYLINE CORP (SKY) 8,781 15,149
STRIDE INC (LRN) 6,383 8,906
MURPHY USA INC COM (MUSA) 9,844 19,322
HELEN OF TROY (HELE) 3,938 3,289
OPTION CARE HEALTH INC (OPCH) 8,682 10,006
AVIENT CORPORATION (AVNT) 3,033 2,577
FNB CORPORATION (FNB) 7,478 8,124
FIRST FINANCIAL BANKSHARES INC (FFIN) 6,423 6,333
TARGET CORPORATION (TGT) 15,596 10,397
CHEVRON CORP (CVX) 51,429 63,243
DAIKIN INDS LTD UNSPON ADR (DKILY) 50,564 54,602
STIFEL FINANCIAL CORPORATION (SF) 14,834 16,112
CIRRUS LOGIC INC (CRUS) 6,175 6,681
POTLATCHDELTIC CORP (PCH) 27,174 26,760
ONE GAS INC (OGS) 10,795 15,165
UNITED THERAPEUTICS CORP (UTHR) 11,524 12,477
EVERCORE INC CLASS A (EVR) 11,714 15,966
CITI BUFFERED PARTICIPATION NOTE SPX (SQHGU) 1,500,000 1,731,000
MAGNOLIA OIL & GAS CORP CL A (MGY) 11,390 24,164
PERDOCEO ED CORP (PRDO) 1,355 2,037
VICI PROPERTIES INC (VICI) 76,978 79,126
FEDERATED HERMES INC CL B (FHI) 8,698 8,431
ESCO TECHNOLOGIES (ESE) 11,732 29,258
APPLE HOSPITALITY REIT INC (APLE) 14,877 15,780
GIBRALTAR INDUSTRIES INC (ROCK) 14,964 30,644
GENUINE PARTS CO (GPC) 15,149 16,482
MICROCHIP TECHNOLOGY INC (MCHP) 15,221 50,862
CONCENTRIX CORP (CNXC) 14,226 15,223
AMN HEALTHCARE SVCS INC (AMN) 11,817 16,324
WINTRUST FIN CORP (WTFC) 12,813 15,675
MERIT MED SYST (MMSI) 10,623 11,774
OXFORD INDUSTRIES INC (OXM) 1,075 1,158
DIODES INC (DIOD) 445 601
HANCOCK WHITNEY CORPORATION (HWC) 10,623 11,224
DONALDSON CO INC (DCI) 10,244 11,044
INSTALLED BLDG PRODS INC (IBP) 10,213 15,907
FIRST FINCL CP INDIANA (THFF) 1,023 990
SCIENCE APPLICATIONS INTL (SAIC) 10,049 13,178
BLACKSTONE INC (BX) 49,742 53,677
BELDEN INC (BDC) 20,527 26,265
MICROSOFT CORP (MSFT) 12,611 83,481
ARCOSA INC (ACA) 11,199 22,808
UPBOUND GROUP INC (UPBD) 3,599 2,616
BUILDERS FIRSTSOURCE INC (BLDR) 3,489 8,419
VALERO ENERGY CP DELA NEW (VLO) 6,550 6,630
CRANE NXT CO (CXT) 3,521 5,175
NBT BANCORP (NBTB) 3,603 4,359
AVNET INC (AVT) 4,955 6,250
INTEGRA LIFESCIENCES CRP NEW (IART) 4,993 4,529
CROCS INC (CROX) 6,621 6,556
PRIMORIS SVCS CORP (PRIM) 2,114 2,522
CSG SYSTEMS INTL INC (CSGS) 8,066 8,248
PROGRESS SOFTWARE (PRGS) 8,282 8,525
CASELLA WASTE SYS INC CL A (CWST) 8,267 20,254
JABIL CIRCUIT INC (JBL) 8,267 16,562
APPLIED IND TECH INC (AIT) 8,151 12,461
BANCFIRST CORP (BANF) 2,481 2,920
LANTHEUS HLDGS INC COM (LNTH) 8,070 15,438
TRINET GROUP INC (TNET) 8,344 11,417
KNIFE RIV HLDG CO (KNF) 17,103 23,957
AMN HEALTHCARE SVCS INC (AMN) 6,564 5,204
HUB GROUP INC CL A (HUBG) 3,083 3,917
INDEPENDENT BK MASS (INDB) 21,215 30,470
SANMINA CORP (SANM) 5,381 6,986
AMPHASTAR PHARMACEUTICALS INC (AMPH) 5,670 10,762
QUALCOMM INC (QCOM) 5,660 6,364
PIEDMONT OFFICE RLTY TR CL-A (PDM) 5,578 2,673
RALPH LAUREN CORP CL A (RL) 2,112 3,208
COCA-COLA EUROPACIFIC PARTNERS (CCEP) 51,826 61,652
BOYD GAMING CORP (BYD) 5,501 5,385
COHERENT CORP (COHR) 15,243 15,236
DECKER OUTDOOR CORPORATION (DECK) 8,641 18,038
HUNTSMAN CORP (HUN) 2,752 2,563
HF SINCLAIR CORPORATION (DINO) 7,716 9,447
BERKSHIRE HILLS BANCORP INC (BHLB) 2,789 2,756
ADTALEM GLOBAL EDUCATION INC (ATGE) 7,647 11,317
PRIMERICA INC (PRI) 2,814 3,232
ARMSTRONG WORLD INDS INC NEW (AWI) 7,528 9,171
APPLIED MATERIALS INC (AMAT) 7,524 10,535
LANCASTER COLONY CRP (LANC) 8,396 12,975
RAMBUS INC (DEL) (RMBS) 3,909 16,175
TERADATA CORP (TDC) 3,288 3,481
H & R BLOCK INC (HRB) 11,189 16,881
TAYLOR MORRISON HOME CORP CL A (TMHC) 19,552 22,620
FIRST COMMONWEALTH FINANCIAL (FCF) 4,638 4,894
TEEKAY TANKERS LTD CL A (TNK) 4,502 4,437
VEEVA SYS INC CL A (VEEV) 4,411 5,189
FTI CONSULTING INC (FCN) 4,407 5,975
GLOBUS MEDICAL INC A (GMED) 4,329 4,014
EXPERIAN GP LTD ADR (EXPGY) 5,567 6,817
MASONITE INTL CORP NEW COM (DOOR) 4,045 3,260
GENL DYNAMICS CORP (GD) 20,767 36,613
BELDEN INC (BDC) 5,167 5,195
UNITED BANKSHARES INC W VA (UBSI) 21,596 21,516
HDFC BANK LTD ADR (HDB) 23,265 28,992
SONY GROUP CORPORATION ADR (SONY) 21,279 42,611
UNITED RENTALS INC (URI) 20,924 41,286
OXFORD INDUSTRIES INC (OXM) 20,790 29,100
VONTIER CORPORATION (VNT) 11,413 12,818
CRANE COMPANY (CR) 3,631 6,143
MGM RESORTS INTERNATIONAL (MGM) 19,129 23,814
CHORD ENERGY CORPORATION NEW (CHRD) 18,744 24,103
PERFICIENT INC (PRFT) 18,441 18,890
EQUITY LIFESTYLE PROPERTIES (ELS) 23,210 30,191
NVIDIA CORPORATION (NVDA) 35,352 40,395
FORWARD AIR CORP (FWRD) 19,505 17,541
NEXTERA ENERGY INC (NEE) 19,427 16,521
FORMFACTOR INC (FORM) 19,258 21,272
LENNAR CORPORATION (LEN) 18,865 62,299
ACUITY BRANDS INC (AYI) 23,312 25,193
ICF INTL INC (ICFI) 18,380 29,366
MITSUBISHI UFJ FINCL GRP ADS (MUFG) 16,981 29,412
LEONARDO DRS INC (DRS) 18,302 23,006
COMMERCE BANCSHARES (CBSH) 18,180 21,364
BRINK'S COMPANY COM (BCO) 17,949 31,398
FEDERAL SIGNAL CORP (FSS) 17,916 37,603
RYDER SYSTEMS INC (R) 8,405 9,426
STANDEX INTERNATIONAL CORP (SXI) 21,423 39,437
LAKELAND FINCL (LKFN) 17,047 23,849
FIRST FINCL BNCP (FFBC) 5,418 5,771
INSTALLED BLDG PRODS INC (IBP) 16,948 24,681
LAKELAND FINCL (LKFN) 3,559 3,323
COMFORT SYSTEMS USA INC (FIX) 19,973 28,177
LINDE PLC (LIN) 25,812 27,962
COCA COLA CO (KO) 25,804 36,419
LULULEMON ATHLETICA INC (LULU) 24,709 41,341
ELEMENT SOLUTIONS INC (ESI) 23,384 23,742
PROGRESSIVE CORP OHIO (PGR) 28,299 31,697
PARKER HANNIFIN CORP (PH) 24,451 68,644
PLYMOUTH INDL REIT INC (PLYM) 24,324 24,503
BANK OZK (OZK) 24,225 32,190
INTEGER HOLDINGS CORP (ITGR) 23,003 29,922
MODIVCARE INC (MODV) 23,887 9,282
QUALCOMM INC (QCOM) 23,410 46,426
MEDTRONIC PLC SHS (MDT) 30,004 28,503
AMGEN INC (AMGN) 28,865 48,675
NIPPON TELEGRAPH&TELEPHONE ADS (NTTYY) 20,634 21,356
EMCOR GROUP INC (EME) 22,014 30,376
AVIENT CORPORATION (AVNT) 19,749 20,743
COMMERCIAL METALS CO (CMC) 19,886 22,518
DANAHER CORPORATION (DHR) 12,200 39,790
CULLEN FROST BANKERS INC (CFR) 21,662 31,679
BROWN & BROWN INC (BRO) 22,800 25,102
TJX COS INC NEW (TJX) 22,722 25,610
MARTIN MARIETTA MATERIALS (MLM) 22,550 56,377
FULLER H B & COMPANY (FUL) 17,592 27,598
MATADOR RES CO (MTDR) 15,805 40,086
ATKORE INC (ATKR) 9,791 15,344
INTERDIGITAL INC (IDCC) 6,039 6,782
MGE ENERGY INC (MGEE) 5,878 11,063
FULTON FINL CORP PA (FULT) 5,806 6,617
AUTONATION INC (AN) 5,738 7,589
FORTUNE BRANDS INNOVATIONS INC (FBIN) 12,543 16,446
EXELIXIS INC (EXEL) 5,714 7,629
WASTE MGMT INC (DELA) (WM) 3,588 3,940
MASTERBRAND INC (MBC) 1,760 3,208
KFORCE.COM (KFRC) 1,865 2,209
LANDSTAR SYSTEM INC (LSTR) 9,343 10,973
STIFEL FINANCIAL CORPORATION (SF) 12,082 16,734
ALCON INC (ALC) 24,174 34,685
CORTEVA INC (CTVA) 26,117 48,447
ABM INDUSTRIES INCORPORATED (ABM) 14,731 19,097
MASTERBRAND INC (MBC) 3,955 5,019
SIGNET JEWELERS LIMITED (SIG) 9,781 12,657
VERALTO CORP (VLTO) 1,601 4,689
CHEMED CORPORATION (CHE) 9,694 10,652
MERITAGE HOME CORPORATION (MTH) 9,603 16,244
THE SIMPLY GOOD FOODS COMPANY (SMPL) 10,019 10,494
INTEGER HOLDINGS CORP (ITGR) 10,811 12,286
AMERIPRISE FINCL INC (AMP) 13,444 53,936
TOPBUILD CORP COM (BLD) 5,985 10,800
DBS GROUP HOLDINGS LTD SP (DBSDY) 51,458 57,950
LENNAR CORPORATION (LEN) 6,040 10,284
KONTOOR BRANDS INC (KTB) 5,548 8,052
HALEON PLC ADR (HLN) 48,318 54,030
GSK PLC ADR (GSK) 51,640 49,475
RYANAIR HLDGS PLC ADR (RYAAY) 13,946 20,671
NEXSTAR MEDIA GROUP INC (NXST) 12,915 12,091
CBIZ INC (CBZ) 11,123 28,729
ADOBE INC (ADBE) 11,178 69,207
SONOCO PRODUCTS CO (SON) 13,287 13,185
CENTRAL GARDEN & PET CO CL A (CENTA) 13,572 18,893
LA Z BOY INCORPORATED (LZB) 14,774 20,491
THE SIMPLY GOOD FOODS COMPANY (SMPL) 13,660 23,285
ADAPTHEALTH CORP (AHCO) 13,763 3,753
EXLSERVICE HLDGS INC (EXLS) 11,965 13,420
ALPHA METALLURGICAL RESO INC (AMR) 12,780 22,062
HANOVER INSURANCE GROUP INC (THG) 14,003 13,113
PEBBLEBROOK HOTEL TR COM (PEB) 14,340 10,531
ASBURY AUTOMOTIVE GROUP INC (ABG) 14,395 18,130
ANSYS INC (ANSS) 13,609 54,069
ZIFF DAVIS INC (ZD) 14,516 7,727
ZIONS BANCORPORATION N A (ZION) 14,679 21,233
MUELLER INDUS INC (MLI) 9,305 14,711
NETFLIX INC (NFLX) 14,740 15,362
INSIGHT ENTERPRISES INC (NSIT) 5,786 9,391
MEDPACE HOLDINGS, INC. (MEDP) 8,994 18,329
PLEXUS CORP (PLXS) 14,461 23,032

TY 2023 InvestmentsGovtObligationsSch
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
US Government Securities - End of Year Book Value:

29,734
US Government Securities - End of Year Fair Market Value:

24,672
State & Local Government Securities - End of Year Book Value:


1,189,559
State & Local Government Securities - End of Year Fair Market Value:


1,094,920


TY 2023 InvestmentsOtherSchedule2
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ANGEL OAK MULTI STRAT INC I AT COST 2,100,962 1,652,186
BRIDGE MULTIFAMILY IV INT-A AT COST 1,580,131 2,847,700
MARATHON SPS OFF III AT COST 579,211 576,084
NH EXPANSION CREDIT II OFF AT COST 466,445 511,203
OAKTREE REAL ESTATE OPP VI AT COST 257,845 257,846
BOYD WATTERSON AT COST 1,037,365 1,035,123
HUDSON BAY INTL AT COST 998,020 1,070,660
ICAP MILLENNIUM AT COST 1,000,000 1,117,330
VOYA STRAT INC OPPPORT I AT COST 1,102,453 1,028,502
CK OPP. OFFSHORE FUND AT COST 909,526 1,115,406
PECO II (CAYMAN) AT COST 685,990 959,500
BLUE OWL REAL ESTATE AT COST 1,005,227 1,076,788
PIMCO INCOME I2 AT COST 1,948,625 1,747,993

TY 2023 OtherAssetsSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
SUB-CLOSE INTEREST PAID 0 9,021 6,334


TY 2023 OtherExpensesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MISCELLANEOUS EXPENSE 444 0   444
OFFICE EXPENSE 307 0   307
STATE FILING FEES 245 0   245
VENDOR GIFTS 1,734 0   1,734


TY 2023 OtherIncomeSchedule2
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MISCELLANEOUS INCOME 1,112 1,112 1,112
PARTNERSHIP ORDINARY LOSS -59,003 -60,835 -59,003


TY 2023 OtherProfessionalFeesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 161,717 161,717   0


TY 2023 TaxesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES PAID 9,428 9,428   0
FEDERAL TAX 398 0   0