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
Frey Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)40 Pearl Street NW 1100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Grand Rapids, MI495033028
A Employer identification number

23-7094777
B Telephone number (see instructions)

(616) 451-0303
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$147,686,324J 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 816 816  
4 Dividends and interest from securities... 677,809 1,116,280  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
358,496
b Gross sales price for all assets on line 6a 19,720,189
7 Capital gain net income (from Part IV, line 2)... 1,168,726
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
669 18,854 0
12 Total. Add lines 1 through 11........ 1,037,790 2,304,676 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 456,889 68,533   387,924
14 Other employee salaries and wages...... 527,992 36,802   491,190
15 Pension plans, employee benefits....... 123,103 18,465   100,278
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
8,231 322 0 7,909
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
79,474 11,921 0 54,902
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
428,316 245,762 0 180,729
17 Interest............... 10,890     10,890
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
136,138 20,399 0 46,373
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
143,405 21,511 0
20 Occupancy.............. 95,207 14,281   80,926
21 Travel, conferences, and meetings....... 95,694 12,693   84,504
22 Printing and publications.......... 4,974 746   4,149
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
228,629 22,558 0 202,264
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,338,942 473,993 0 1,652,038
25 Contributions, gifts, grants paid....... 6,540,691 5,522,441
26 Total expenses and disbursements. Add lines 24 and 25 8,879,633 473,993 0 7,174,479
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -7,841,843
b Net investment income (if negative, enter -0-) 1,830,683
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 112 151 151
2 Savings and temporary cash investments......... 2,532,683 3,588,961 3,588,961
3 Accounts receivable right arrow10,000
Less: allowance for doubtful accounts right arrow   0 10,000 10,000
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow   0 0 0
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)..... 0 0 0
7 Other notes and loans receivable (attach schedule) right arrow0
Less: allowance for doubtful accounts right arrow0 0 0 0
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 112,192 64,481 64,481
10a Investments—U.S. and state government obligations (attach schedule) 0 0 0
b Investments—corporate stock (attach schedule)....... 0 Click to see attachment
List of Attached Documents:
// Content
0 		0
c Investments—corporate bonds (attach schedule)....... 0   0
11 Investments—land, buildings, and equipment: basis right arrow0
Less: accumulated depreciation (attach schedule) right arrow0 0   0
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 126,997,356 Click to see attachment
List of Attached Documents:
// Content
141,409,105 		141,409,105
14 Land, buildings, and equipment: basis right arrow1,295,248
Less: accumulated depreciation (attach schedule) right arrow789,683 595,552 Click to see attachment
List of Attached Documents:
// Content
505,565 		505,565
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,932,087 		Click to see attachment
List of Attached Documents:
// Content
2,108,061 		Click to see attachment
List of Attached Documents:
// Content
2,108,061
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 132,169,982 147,686,324 147,686,324
Liabilities 17 Accounts payable and accrued expenses.......... 28,723 34,771
18 Grants payable................. 1,078,750 2,372,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)...... 483,316 Click to see attachment
List of Attached Documents:
// Content
378,461
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
751,124 		Click to see attachment
List of Attached Documents:
// Content
666,409
23 Total liabilities (add lines 17 through 22)......... 2,341,913 3,451,641
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........... 129,828,069 144,234,683
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 129,828,069 144,234,683
30 Total liabilities and net assets/fund balances (see instructions). 132,169,982 147,686,324
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
129,828,069
2
Enter amount from Part I, line 27a .....................
2
-7,841,843
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
22,248,457
4
Add lines 1, 2, and 3 ..........................
4
144,234,683
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
144,234,683
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 REALIZED INVESTMENT GAIN/(LOSSES) P    
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 19,720,189   18,551,463 1,168,726
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a     0 1,168,726
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,168,726
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 0
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 25,446
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 25,446
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 25,446
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 130,881
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 65,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 195,881
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 10 170,435
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow170,435 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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the 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 arrowMI
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 arrowHTTP://FREYFDN.ORG/
14
The books are in care ofright arrowTyler Crawford Telephone no.right arrow (616) 451-4543

Located atright arrow40 PEARL ST NW SUITE 1100GRAND RAPIDSMI ZIP+4right arrow495033028
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)
 
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
MARY FREY BENNETT TREASURER
10.000 		36,000 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
ELEONORA H FREY ZAGEL VICE CHAIR
10.000 		41,200 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
DAVID G FREY JR CHAIR
18.000 		46,318 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
SARAH R FREY ROSE SECRETARY
10.000 		36,000 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
CAMPBELL W FREY TRUSTEE
3.000 		17,000 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
LAURA D FREY TRUSTEE
3.000 		17,850 0 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
HOLLY A JOHNSON PRESIDENT
40.000 		265,356 29,972 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
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
KENNETH E LONG CFO & COO THRU 9/23
40.000 		62,833 13,796 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
LYNNETTE J ROBINSON PROGRAM DIRECTOR
40.000 		191,496 18,058 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
SARAH J MIX PROGRAM ASSOCIATE
40.000 		65,962 13,672 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
BRYANA L HOPKINS PROGRAM OFFICER
40.000 		76,767 8,078 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
CHRISTINA B GILL EXECUTIVE ASSISTANT
40.000 		50,168 25,293 0
40 PEARL STREET NW SUITE 1100
GRAND RAPIDS,MI49503
Total number of other employees paid over $50,000...................right arrow 1
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
MONTICELLO ASSOCIATES INC Investment Consultant 200,000
1800 Larimer Street
Suite 2100
Denver,CO80202
HR COLLABORATIVE HR Mgmt Services 71,030
678 Front Ave NW Suite 265
Grand Rapids,MI49504
Specialized Computer Services Information Technology services 68,755
2922 Fuller Ave NE
Suite 206
Grand Rapids,MI49505
CROWE LLP Audit/Tax Services 64,590
PO Box 71570
Chicago,IL60694
WELL DESIGN STUDIO Design/Comm Services 59,550
605 Livingston Ave NE
Grand Rapids,MI49503
Total number of others receiving over $50,000 for professional services.............right arrow1
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 PETOSKEY-HARBOR SPRINGS AREA COMMUNITY FOUNDATION (PHSACF) - THE FREY FOUNDATION CONTRIBUTED CAPITAL TO PHSACF IN ORDER TO FURTHER ITS TAX-EXEMPT PURPOSE BY CONTRIBUTING FUNDS THE ORGANIZATION'S STRATEGIC INITIATIVES OF BUILDING AFFORDABLE AND ATTAINABLE HOUSING SOLUTIONS, FUNDING CHILD CARE PROGRAMS, AND INVESTING IN LOCAL AGRICULTURE AND CLEAN ENERGY IN THE COMMUNITY OF THE PETOSKEY-HARBOR SPRINGS AREA. 250,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow250,000
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
134,572,097
b
Average of monthly cash balances.......................
1b
3,634,766
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
138,206,863
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
 
3
Subtract line 2 from line 1d.........................
3
138,206,863
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
2,073,103
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
136,133,760
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
6,806,688
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
6,806,688
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
25,446
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
1,852
c
Add lines 2a and 2b............................
2c
27,298
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
6,779,390
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
6,779,390
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
6,779,390
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
7,174,479
b
Program-related investments—total from Part VIII-B..................
1b
250,000
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
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
7,424,479
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 6,779,390
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 6,776,240
b Total for prior years:2021, 2020, 2019 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 7,424,479
a Applied to 2022, but not more than line 2a 6,776,240
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..... 648,239
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023.   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...... 		 
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 .......... 		6,131,151
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.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
none
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.
none
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:
HOLLY A JOHNSON
40 PEARL STREET NW Ste 1100
GRAND RAPIDS,MI45903
(616) 451-0303
CONTACT@FREYFDN.ORG
bThe form in which applications should be submitted and information and materials they should include:
STANDARD APPLICATION FORM AVAILABLE UPON REQUEST FROM ADDRESS ABOVE OR AT THE FOUNDATION'S WEBSITE: WWW.FREYFDN.ORG
cAny submission deadlines:
DUE TWELVE WEEKS PRIOR TO SCHEDULED DATE OF BOARD FUNDING MEETINGS, HELD IN FEB, MAY, AUG, AND NOV.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
FOR COMMUNITY-BASED OR REGIONAL PROJECTS, THE FOUNDATION FOCUSES ON PROPOSALS FROM ORGANIZATIONS AND AGENCIES SERVING KENT, EMMET OR CHARLEVOIX COUNTIES. THE FOUNDATION ALSO ACCEPTS PROPOSALS FROM CHARITABLE ORGANIZATIONS WITH A STATE-LEVEL PRESENCE OR STATE GOVERNMENT AGENCIES WHOSE PROPOSAL MAY HAVE A DIRECT IMPACT ON THE FREY FOUNDATION'S GEOGRAPHIC TARGET AREAS.
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

Access of West Michigan

1700 28th St SE
Grand Rapids,MI495081414 		none PC Mindset Meals-Walk for Good Food 500

Access of West Michigan

1700 28th St SE
Grand Rapids,MI495081414 		none PC Fresh Market Program 10,000

Alachua County Public Schools

620 East University Avenue
Gainesville,FL326015498 		none GOV Eastside High School Theatre Department 3,000

Alachua County Public Schools

620 East University Avenue
Gainesville,FL326015498 		none GOV Eastside High School Theater Department 5,000

Alachua County Public Schools

620 East University Avenue
Gainesville,FL326015498 		none GOV Eastside High School - International Baccalaureate Programs 5,000

Alachua Habitat for Humanity

2630 NW 41st Street Suite C-3
Gainesville,FL32606 		none PC General Support 1,500

Amplify GR

1480 Kalamazoo Ave SE
Grand Rapids,MI495072112 		none PC Boston Square Community Hub 175,000

AOPA Foundation

421 Aviation Way
Frederick,MD21701 		none PC General Operating Support 500

AQUME Foundation

PO Box 9193
Wyoming,MI495090193 		none PC General Support 1,500

Avalanche Forecast Support Organization

PO Box 424
Teton Village,WY83025 		none PC General operating support 500

Blandford Nature Center

1715 Hillburn Ave NW
Grand Rapids,MI49504 		none PC Second Nature: A Campaign for The Highlands 300,000

Blandford Nature Center

1715 Hillburn Ave NW
Grand Rapids,MI49504 		none PC Bridge Funding for Long-Term Financial Sustainability 30,000

Blandford Nature Center

1715 Hillburn Ave NW
Grand Rapids,MI49504 		none PC Acorns to Oak 1,000

Breakthrough Silicon Valley

1635 Park Avenue
San Jose,CA95126 		none PC General operating support 2,500

Bridge Michigan

220 W Michigan Ave
Ypsilanti,MI481975565 		none PC Annual support 50

Burt Lake Preservation Association

PO Box 632
Indian River,MI49749 		none PC general operating funds 1,000

Camp Blodgett

528 Bridge Street NW Suite 6
Grand Rapids,MI49504 		none PC The Empowerment Experience 20,000

Camp Daggett

03001 Church Road
Petoskey,MI49770 		none PC Scholarship support for economically disadvantaged campers 2,500

Celebration United Methodist Church

9501 SW Archer Road
Gainesville,FL32608 		none PC Building Fund ($4,500) and Playground Improvement ($314) 4,814

Celebration United Methodist Church

9501 SW Archer Road
Gainesville,FL32608 		none PC Accessible Playground Expansion 2,500

Central Michigan University

Carlin Alumni House 524 E Bellows S
t
Mount Pleasant,MI48858 		none PC Support for the Judy Johnson Endowed Scholarship in memory of William L. Johnson 500

Charlevoix County Community Foundation

301 Water Street PO Box 718
East Jordan,MI49727 		none PC The Chip Hansen Fund for the Community 5,000

Charlevoix County Community Foundation

301 Water Street PO Box 718
East Jordan,MI49727 		none PC Frey 4North Philanthropy Fund 5,000

Charlevoix County Community Foundation

301 Water Street PO Box 718
East Jordan,MI49727 		none PC Frey Family Fund 100,000

Charlevoix Historical Society

PO Box 525 103 State Street
Charlevoix,MI497200525 		none PC Charlevoix Historic Train Depot Roof Replacement 4,400

Christ Child Society of Northern Michigan

PO Box 132
Harbor Springs,MI49740 		none PC general operating support 1,500

City of Grand Rapids

300 Monroe Ave NW 6th Floor
Grand Rapids,MI49503 		none GOV 2023 Neighborhood Summit 1,500

Community Foundation of the Holland Zeeland Area

70 West 8th Street Suite 100
Holland,MI49423 		none PC Lakeshore Advantage Community Fund 2,500

Conservation Resource Alliance

10850 Traverse Hwy Suite 1180
Traverse City,MI49684 		none PC Spanning the Headwaters of the Jordan River and Deer Creek 125,000

Conserving Carolina

847 Case Street
Hendersonville,NC28792 		none PC General operating support 1,500

Cornell University

130 East Seneca Street Suite 400
Ithaca,NY14850 		none PC Annual Fund 1,000

Council of Michigan Foundations Inc

125 Ottawa Ave NW Suite 437
Grand Rapids,MI49503 		none PC 50th Anniversary Jubilee and 2023 Conference 15,000

Crooked Tree Arts Council Inc

461 E Mitchell Street
Petoskey,MI49770 		none PC 50th Anniversary Campaign for the Arts 100,000

Crossnore School & Children's Home

PO Box 249
Crossnore,NC28616 		none PC Support of Youth Mental Wellness 1,000

Davenport University

6191 Kraft Ave SE
Grand Rapids,MI49512 		none PC Casa Latina Program 315,000

Degage Ministries

144 Division Ave S
Grand Rapids,MI49503 		none PC Building Dignity Through Christ: Degage Ministries Capital Campaign 125,000

Degage Ministries

144 Division Ave S
Grand Rapids,MI49503 		none PC Complex Needs Supportive Housing Pilot 30,000

DisArt

PO Box 3467
Grand Rapids,MI49501 		none PC Strategic Marketing Plan, Phase I 11,500

Downtown Grand Rapids Inc

29 Pearl St NW Suite 1
Grand Rapids,MI49503 		none PC ArtPrize 2.0 10,000

Downtown Grand Rapids Inc

29 Pearl St NW Suite 1
Grand Rapids,MI49503 		none PC Building ArtPrize 2.0 Organizational Capacity and Infrastructure 100,000

Drummond Island Medical Center

PO Box 98
Drummond Island,MI49726 		none PC Medical supplies for adolescents 2,500

Dwelling Place of Grand Rapids Inc

101 Sheldon Blvd SE Suite 2
Grand Rapids,MI49503 		none PC Housing development 2,000

Eagle County Charter Academy Education Foundation

1105 Miller Ranch Rd
Edwards,CO816326425 		none PC Curriculum Campaign 1,000

Eagle River Watershed Council

PO Box 1477
Gypsum,CO816371477 		none PC General Operating Support 1,000

Eagle Valley Land Trust

PO Box 3016
Edwards,CO81632 		none PC Conservation Center Campaign 500

Eagle Valley Mental Health

PO BOX 40000
Vail,CO816587520 		none PC General Operating Support 1,000

EARTH University Foundation

151 Ellis Street NE Floor 1 Suite 1
33
Atlanta,GA30303 		none PC General operating support 5,000

East Grand Rapids Schools Foundation

2915 Hall St SE
East Grand Rapids,MI49506 		none PC Parker Spindle's Genuine Heart Fund 3,000

East Grand Rapids Schools Foundation

2915 Hall St SE
East Grand Rapids,MI49506 		none PC Pioneer Auditorium lighting project 10,000

East Grand Rapids Schools Foundation

2915 Hall St SE
East Grand Rapids,MI49506 		none PC EGRS Foundation Community Service and Distinguished Alumni Awards Dinner honoring Bill Spindle 1,500

Eastside High School

1201 SE 43rd St
Gainesville,FL326417661 		none GOV IB for all at Eastside High School 200

Ebony Road Players

1213 Kalamazoo Ave
Grand Rapids,MI49507 		none PC General support 5,000

Environmental Law & Policy Center

35 East Wacker Drive Suite 1600
Chicago,IL60601 		none PC Michigan Power Plants to Parklands Strategic Initiative 90,000

Equest Center for Therapeutic Riding Inc

3777 Rector NE
Rockford,MI49341 		none PC 20/20 Vision Capital Campaign 2,500

Family Promise of West Michigan

516 Cherry Street SE
Grand Rapids,MI49503 		none PC Room to Grow Capital Campaign 141,000

Family Promise of West Michigan

516 Cherry Street SE
Grand Rapids,MI49503 		none PC Room to Grow Capital Campaign 130,000

Farming for Our Future at Pond Hill Inc

5581 South Lake Shore Drive
Harbor Springs,MI49740 		none PC General Support for HS Farmers Market 1,000

Feeding America West Michigan

864 West River Center Dr
Comstock Park,MI49321 		none PC Nourish Tomorrow Advancement Campaign 240,000

Festival of the Arts in Grand Rapids

PO Box 68440
Grand Rapids,MI495168440 		none PC 2023 Festival of the Arts 5,000

Friends of Colorado Avalanche Information Center

PO Box 1117
Evergreen,CO80437 		none PC General operating support 500

Friends of Grand Rapids Parks

720 Curve St SW Suite B
Grand Rapids,MI495034891 		none PC General Operating Support 1,000

Friends of Grand Rapids Parks

720 Curve St SW Suite B
Grand Rapids,MI495034891 		none PC Trail Expansion at Ball Perkins Park 7,100

Friends of Grand Rapids Parks

720 Curve St SW Suite B
Grand Rapids,MI495034891 		none PC Fuller Park "Champ" Courts 1,000

Friends of Mountain Rescue

PO Box 1094
Edwards,CO81632 		none PC General operating support 250

Friends of the Utah Avalanche Center

PO Box 521353
Salt Lake City,UT841521353 		none PC General operating support 500

Fulton Street Farmers Market Inc

1145 Fulton St E
Grand Rapids,MI49503 		none PC General operating support 1,000

Girls Choral Academy

2920 Fuller Avenue Northeast 104
Grand Rapids,MI495053784 		none PC Strategic growth and expansion 10,000

Girls Growing II Women Inc

PO Box 6782
Grand Rapids,MI495166782 		none PC L.I.F.E (Learning Important Fundamentals to Evolve) Program 30,000

Grand Action Foundation

125 Ottawa Ave NW Suite 152
Grand Rapids,MI495032837 		none PC general support 10,000

Grand Action Foundation

125 Ottawa Ave NW Suite 152
Grand Rapids,MI495032837 		none PC Acrisure Amphitheater in Downtown Grand Rapids 500,000

Grand Haven Community Foundation

One South Harbor Drive
Grand Haven,MI49417 		none PC Holly and Erick Johnson Family Fund 5,000

Grand Rapids Art Museum

101 Monroe Center St NW
Grand Rapids,MI49503 		none PC general support 1,500

Grand Rapids Ballet Company

341 Ellsworth SW
Grand Rapids,MI49503 		none PC 50th Anniversary Building Campaign 75,000

Grand Rapids Civic Theatre Inc

30 Division Ave N
Grand Rapids,MI49503 		none PC Annual fund 5,000

Grand Rapids Community Foundation

185 Oakes St SW
Grand Rapids,MI49503 		none PC Nonprofit Technical Assistance Fund (NPTA) 30,000

Grand Rapids Community Foundation

185 Oakes St SW
Grand Rapids,MI49503 		none PC Diana Sieger's Retirement Celebration 5,000

Grand Rapids Community Foundation

185 Oakes St SW
Grand Rapids,MI49503 		none PC Commissioned Artwork in Honor of Diana Sieger's Retirement 13,500

Grand Rapids Community Foundation

185 Oakes St SW
Grand Rapids,MI49503 		none PC Ray McCahill Family Fund 2,000

Grand Rapids Community Foundation

185 Oakes St SW
Grand Rapids,MI49503 		none PC Black Legacy Fund 5,000

Grand Rapids Downtown Market Education Foundation

435 Ionia Ave SW
Grand Rapids,MI49503 		none PC Small Plates Big Impact 1,000

Grand Rapids Symphony Society

300 Ottawa Ave NW Suite 100
Grand Rapids,MI49503 		none PC 2024 Celebration of Soul 3,750

Grand Rapids Symphony Society

300 Ottawa Ave NW Suite 100
Grand Rapids,MI49503 		none PC Strategic Capital Reserve Campaign 30,000

Grand Rapids Symphony Society

300 Ottawa Ave NW Suite 100
Grand Rapids,MI49503 		none PC general support 3,500

Grand Rapids Urban League Inc

745 Eastern Ave SE
Grand Rapids,MI49503 		none PC MLK Corporate Breakfast 2023 1,500

Grand Valley Metropolitan Council

678 Front Ave NW Suite 200
Grand Rapids,MI49504 		none PC LGROW's 2023 Annual Spring Forum 500

Grand Valley State University

1 Campus Dr
Allendale,MI494019403 		none PC Dorothy A. Johnson Center for Philanthropy's celebration for the Frey Foundation Chair for Family Philanthropy 1,393

Grand Valley State University

1 Campus Dr
Allendale,MI494019403 		none PC Fully endow the Frey Foundation Chair for Family Philanthropy 500,000

Grandville Avenue Arts and Humanities Inc

644 Grandville Avenue SW
Grand Rapids,MI49503 		none PC Strategic Plan Implementation 20,000

Graz'n Acres Therapeutiuc

14492 Ivor Road
Sedley,VA23878 		none PC Safety and capacity building 2,600

Greater Michigan Council Inc Boy Scouts of America

3213 Walker Ave NW
Grand Rapids,MI49544 		none PC The Leadership Dinner 5,000

Greater Michigan Council Inc Boy Scouts of America

3213 Walker Ave NW
Grand Rapids,MI49544 		none PC Adventure Point Youth Assessment Tool Development 20,000

Harbor Springs Area Historical Society

PO Box 812
Harbor Springs,MI497401513 		none PC Bringing History to Life campaign 25,000

Harbor Springs Lyric Theatre

275 East Main
Harbor Springs,MI49740 		none PC Annual fund 5,000

Harbor Springs Lyric Theatre

275 East Main
Harbor Springs,MI49740 		none PC General Operating Support 500

Harbor Springs Public Schools

800 State Road
Harbor Springs,MI49740 		none GOV Blackbird Elementary School Programming and General Operating Support 4,000

Harbor Springs Public Schools

800 State Road
Harbor Springs,MI49740 		none GOV football uniforms and equipment 10,000

Harbor Springs Public Schools

800 State Road
Harbor Springs,MI49740 		none GOV general operating funds for the high school band 1,500

Harbor Springs Public Schools

800 State Road
Harbor Springs,MI49740 		none GOV Peer to Peer Coffee Shop 5,000

Hawaii Community Foundation

827 FORT STREET MALL
HONOLULU,HI968134317 		none PC Maui Strong Fund 2,000

Heart of West Michigan United Way

118 Commerce Ave SW num 100
Grand Rapids,MI49503 		none PC Community Grant Fund/Undesignated 25,000

Heart of West Michigan United Way

118 Commerce Ave SW num 100
Grand Rapids,MI49503 		none PC Support with public relations and communications during United Way merger/dissolution 3,500

HOPE Gardens

10656 WILSON AVE SW
BYRON CENTER,MI493159716 		none PC Growing Roots in Wyoming: Empowering Children to Transform Health 1,000

Housing Stability Alliance

678 Front Ave NW Ste 335
Grand Rapids,MI49504 		none PC State of Housing in Kent County Report 15,000

i understand Love Heals

PO Box 822
Ada,MI493010822 		none PC Program expenses 500

Interlochen Center for the Arts

PO Box 199
Interlochen,MI49643 		none PC Annual Fund 3,000

International Rescue Committee

PO Box 6068
Albert Lea,MN560079847 		none PC Ukraine 1,000

Jewish Federation of Grand Rapids

2727 Michigan Street NE
Grand Rapids,MI49506 		none PC General operating support 2,500

Jewish Federation of Grand Rapids

2727 Michigan Street NE
Grand Rapids,MI49506 		none PC General operating support 2,500

Johns Hopkins University

3910 Keswick Road Suite N2100
Baltimore,MD212112226 		none PC the Center for Psychedelic and Consciousness Research's Alzheimer's research 5,000

Kalamazoo College

1200 Academy Street
Kalamazoo,MI490063295 		none PC Annual Fund 4,000

KCONNECT

401 Hall Street SW Suite 385
Grand Rapids,MI49503 		none PC KConnect: Creating Collective Impact in Our Community 100,000

Lake Fellowship Ministries

PO Box 573
Baldwin,MI49304 		none PC River Community Center 10,000

Lakeshore Ethnic Diversity Alliance

PO Box 2945
Holland,MI49422 		none PC 2023 Summit on Race and Inclusion 1,000

LINC UP Nonprofit Housing Corporation

1167 Madison Ave SE
Grand Rapids,MI49507 		none PC Lead Abatement Certification for Minority Contractors 10,000

Literacy Project

PO Box 608
Minturn,CO816450608 		none PC Study Friends & Raising a Reader 500

Little Traverse Bay Humane Society

1300 West Conway Road
Harbor Springs,MI49740 		none PC Restricted support for the emergency care center 10,000

Little Traverse Bay Humane Society

1300 West Conway Road
Harbor Springs,MI49740 		none PC In memory of Parker and his furry pal, Sam. 3,000

Little Traverse Bay Humane Society

1300 West Conway Road
Harbor Springs,MI49740 		none PC General Operating Support in loving memory of Parker Rose, from Sarah Frey, Grant and Grace Rose 3,000

Little Traverse Conservancy Inc

3264 Powell Road
Harbor Springs,MI49740 		none PC The Jordan River Watershed Trail 75,000

Little Traverse Conservancy Inc

3264 Powell Road
Harbor Springs,MI49740 		none PC General operating support 1,500

Little Traverse Conservancy Inc

3264 Powell Road
Harbor Springs,MI49740 		none PC Enji-minozhiiyaamigak, The Place of Peacefulness 170,000

Little Traverse Sailors

PO Box 583
Harbor Springs,MI49740 		none PC Scholarship program support to serve children from economically disadvantaged households 2,000

Mary Free Bed Hospital and Rehabilitation Center

235 Wealthy St SE
Grand Rapids,MI49503 		none PC To organize holiday celebrations for children & youth receiving services during the holiday season 2,500

McLaren Northern Michigan Foundation

360 Connable Avenue
Petoskey,MI49770 		none PC To organize holiday celebrations for children & youth receiving services during the holiday season 2,500

Montessori Society of Greater Grand Rapids Inc

1110 College Northeast
Grand Rapids,MI49503 		none PC General operating support 5,000

Mountain Recreation Foundation

52 Lundgren Blvd
Gypsum,CO816375001 		none PC Eagle Valley Trail Contribution 500

National Wildlife Federation

213 West Liberty Street Num 200
Ann Arbor,MI481041398 		none PC 2023 Healing Our Waters Great Lakes Conference 1,000

NIA Centre

PO Box 6166
Grand Rapids,MI49516 		none PC 2023 "My Story" Event and Reception 3,500

North Central Michigan College Foundation

1515 Howard Street
Petoskey,MI49770 		none PC Ted Frey Pursuit of Knowledge Memorial Scholarship 2,500

North Central Michigan College Foundation

1515 Howard Street
Petoskey,MI49770 		none PC Ted Frey Pursuit of Knowledge Memorial Scholarship 2,500

Northwest Avalanche Center

15600 NE 8th St Suite B1-711
Bellevue,WA98008 		none PC General operating support 500

Northwest Michigan Habitat for Humanity

1840 M-119 Unit 1
Petoskey,MI49770 		none PC Foundations for Our Future 210,000

Oberlin College

PO Box 72110
Cleveland,OH441920002 		none PC All in for Oberlin - Parents Fund 534

Opera Grand Rapids

1320 East Fulton
Grand Rapids,MI49503 		none PC Annual fund 5,000

Our Hope Association

324 Lyon St NE
Grand Rapids,MI49503 		none PC Rising Through Recovery Campaign 100,000

Pellston Public Schools

172 Park Street
Pellston,MI49769 		none GOV Elementary and secondary (high school) Peer to Peer programs 2,000

Pere Marquette Chapter of Trout Unlimited

PO Box 247
Ludington,MI494310247 		none PC General Support 1,000

Pere Marquette Watershed Council Incorporated

PO Box 212
Baldwin,MI49304 		none PC General operating support 500

Petoskey-Harbor Springs Area Community Foundation

1349 US-131 Suite A
Petoskey,MI49770 		none PC Lofts at Lumber Square Capital Campaign 250,000

Petoskey-Harbor Springs Area Community Foundation

1349 US-131 Suite A
Petoskey,MI49770 		none PC Lofts at Lumber Square program related investment 250,000

Petoskey-Harbor Springs Area Community Foundation

1349 US-131 Suite A
Petoskey,MI49770 		none PC The Edward J. Frey Jr. Charitable Fund 70,500

Planned Parenthood Federation of America

Attn Online Services PO Box 97166
Washington,DC200907166 		none PC general operating support 2,500

Planned Parenthood Federation of America

Attn Online Services PO Box 97166
Washington,DC200907166 		none PC general operating support 2,500

Planned Parenthood Federation of America

Attn Online Services PO Box 97166
Washington,DC200907166 		none PC General Support 2,000

Planned Parenthood of Michigan

PO Box 3673
Ann Arbor,MI48106 		none PC General operating support 1,000

Planned Parenthood of South East and North Florida

2300 North Florida Mango Road
West Palm Beach,FL33409 		none PC General Support 500

Public Schools of Petoskey

1130 Howard Street
Petoskey,MI49770 		none GOV Petoskey High School performing arts/theatre program 1,500

Rende Progress Capital

818 Butterworth Street SW
Grand Rapids,MI49504 		none GOV General support 5,000

Rotary Charities of Traverse City

800 Cottageview Drive Suite 1090
Traverse City,MI49684 		none PC Leadership Learning Lab 25,000

Rotary Club of Little Traverse Bay Sunset

PO Box 2101
Petoskey,MI49770 		none PC the Petoskey High School Vocational scholarship program 8,000

Rotary Club of Little Traverse Bay Sunset

PO Box 2101
Petoskey,MI49770 		none PC Parker W. Rose Scholarship Fund 10,000

Round Up River Ranch

8333 Colorado River Road
Gypsum,CO81637 		none PC General operating support 1,000

Saint Mary's Foundation

200 Jefferson Avenue SE
Grand Rapids,MI49503 		none PC General operating support 5,000

Saint Mary's Foundation

200 Jefferson Avenue SE
Grand Rapids,MI49503 		none PC Support for the New Mother's Celebration at Clinica Santa Maria 2,500

Salvation Army

712 Pleasant St
Petoskey,MI49770 		none PC Regional Community Center Renovation 20,000

Schrems West Michigan Trout Unlimited

PO Box 230094
Grand Rapids,MI49523 		none PC General Support 1,000

Shenandoah Valley Discovery Museum

19 West Cork St
Winchester,VA22601 		none PC General operating support 1,000

SOS Outreach

PO Box 2020
Avon,CO81620 		none PC Program Support 500

Spectrum Health Foundation

100 Michigan Street NE MC004
Grand Rapids,MI49503 		none PC To organize holiday celebrations for children & youth receiving services at Helen DeVos Children's Hospital during the holiday season 5,000

Start Garden LLC

40 Pearl St NW Suite 200
Grand Rapids,MI495033028 		none PC Accelerate Equity Accelerator Program 30,000

Temple Emanuel

1715 Fulton St E
Grand Rapids,MI495033802 		none PC Capital Campaign for Improvements 2,500

The 5 Gyres Institute

PO Box 5699
Santa Monica,CA904095699 		none PC General Operational Support 500

The Arbor Circle Corporation

1115 Ball Ave NE
Grand Rapids,MI49505 		none PC General support for the Children + Families Program 2,000

The Fund for Park Avenue

445 Park Avenue 9th Floor
New York,NY10022 		none PC Holiday tree lighting and Park Avenue planting 10,000

The Grand Rapids Children's Museum

11 Sheldon Ave NE
Grand Rapids,MI49503 		none PC 2023 State of Play Breakfast 5,000

The Grand Rapids Children's Museum

11 Sheldon Ave NE
Grand Rapids,MI49503 		none PC Annual State of Play Fundraiser 50

The Grand Rapids Children's Museum

11 Sheldon Ave NE
Grand Rapids,MI49503 		none PC General support 5,000

The New School

66 West 12th Street
New York,NY10011 		none PC Milano School of Policy, Management and Environment 1,000

The Preservation Association of Beaver Island

PO Box 494
Beaver Island,MI497820494 		none PC Forever Campaign 15,000

The Regents of the University of Michigan

535 W Williams Street
Ann Arbor,MI48103 		none PC For Michigan Public Radio 500

The Regents of the University of Michigan

3003 South State Street Ste 8000
Ann Arbor,MI481091288 		none PC Dean's general fund at Ross School of Business 3,500

The STEM Greenhouse

PO Box 8571
Kentwood,MI49518 		none PC Ensuring 21st Century STEM Instruction for Minority Students in GRPS 100,000

The Village Learning Center Inc

190 N Main St NE
Cedar Springs,MI493198037 		none PC The Village Learning Center Renovations and Programming 55,000

The Village Learning Center Inc

190 N Main St NE
Cedar Springs,MI493198037 		none PC Early Childhood Education Center Fire Alarm System Installation 5,000

The Women's Foundation

535 Cascade West Parkway SE
Grand Rapids,MI49546 		none PC 2023 WomanUp & Celebrate: West Michigan 2,500

The Young Americans Inc

1132 Olympic Dr
Corona,CA928813390 		none PC general operating funds for the Harbor Springs Summer Camp Program 5,000

Top of Michigan Mountain Bike Association

PO Box 112
Boyne City,MI49770 		none PC Offield Family Viewlands Mountain Bike Trail Expansion 15,000

UNC Law Foundation

UNC Gift Services PO Box 309
Chapel Hill,NC275140309 		none PC The Dean's Discretionary Fund at UNC School of Law 25,000

United Way of Northwest Michigan

202 East Grandview Parkway
Traverse City,MI49684 		none PC Capacity building support for Char-Em United Way 10,000

University of Florida Foundation Inc

1938 West University Avenue
Gainesville,FL32603 		none PC The Harn Museum of Art-Annual Gift 2,000

University of Florida Foundation Inc

1938 West University Avenue
Gainesville,FL32603 		none PC Natural History Museum & McGuire Center for Lepidoptera & Biodiversity 3,000

University of Florida Foundation Inc

1938 West University Avenue
Gainesville,FL32603 		none PC College of Medicine 5,000

University of Florida Foundation Inc

1938 West University Avenue
Gainesville,FL32603 		none PC Cancer Center 5,000

University of North Carolina at Chapel Hill

103 South Building Campus Box 9100
Chapel Hill,NC27599 		none PC Community and Student Access Fund 25,000

University of North Carolina at Chapel Hill

103 South Building Campus Box 9100
Chapel Hill,NC27599 		none PC The Carolina Performing Arts Student Ticket Angel Fund for the David G. Frey '64 '67 challenge grant 25,000

University of North Carolina at Chapel Hill

103 South Building Campus Box 9100
Chapel Hill,NC27599 		none PC Support for Shuford minor in entrepreneurship 3,500

University of North Carolina Chapel Hill Arts and Sciences Foundation

134 E Franklin St
Chapel Hill,NC27514 		none PC Ideas in Action Curriculum 7,500

University of Oregon Foundation

1720 E 13th Avenue Suite 410
Eugene,OR974032253 		none PC Architecture Department Fund 5,000

University of Vermont and State Agricultural College Foundation

411 Main Street
Burlington,VT05401 		none PC Nutrition and Food Sciences program in the College of Agriculture and Life Sciences 3,500

Upwardly Global

505 8th Ave Suite 1704
New York,NY10018 		none PC General operating support 5,000

Ursinus College

601 E Main St
Collegeville,PA19426 		none PC MFB Matching 100

Vail Valley Foundation

PO Box 6550
Avon,CO81620 		none PC General operating support 1,000

Vibrant Futures

233 East Fulton Suite 107
Grand Rapids,MI49503 		none PC Village Pathways 2 Child Care Initiative 47,000

Walking Mountains Science Center

PO Box 9469
Avon,CO81620 		none PC General Operating Support 1,500

West Michigan Aviation Academy Foundation

5363 44th Street Southeast
Grand Rapids,MI495124093 		none PC General operating support 500

West Michigan Chapter of Association of Fundraising Professionals

PO Box 6302
Grand Rapids,MI495166302 		none PC 2023 National Philanthropy Day 1,000

West Michigan Hispanic Chamber of Commerce Foundation

2007 Division Avenue South
Grand Rapids,MI49507 		none PC General Support 1,000

West Michigan Tennis Inc

900 Cambridge Dr SE
Grand Rapids,MI495063360 		none PC Serving Our Community 75,000

Women's Audio Mission

542-544 Natoma Street num C-1
San Francisco,CA94103 		none PC General operation support 5,000

Women's Resource Center

678 Front Avenue Northwest Suite 18
0
Grand Rapids,MI49504 		none PC 33rd Annual Pillar Awards/50th Anniversary 1,200

Women's Resource Center

816 Madison Ave SE
Grand Rapids,MI495071209 		none PC Emergency response for former ELNC staff members 5,000

Women's Resource Center of Northern Michigan

423 Porter Street
Petoskey,MI49770 		none PC Capital Campaign 5,000

Young Men's Christian Association of Grand Rapids

475 Lake Michigan Drive NW
Grand Rapids,MI49504 		none PC General support 3,000

YWCA West Central Michigan

25 Sheldon Avenue SE
Grand Rapids,MI49503 		none PC 2023 Annual Spring Luncheon- Arise! Until Justice Just Is 1,000

YWCA West Central Michigan

25 Sheldon Avenue SE
Grand Rapids,MI49503 		none PC Planning and launch of the Domestic Violence Action Networkin Kent County 30,000
Total .................................right arrow 3a 5,522,441
bApproved for future payment

Camp Daggett
03001 Church Road
Petoskey,MI49770 		none PC Scholarship support for economically disadvantaged campers 2,500

Charlevoix County Community Foundation
301 Water Street PO Box 718
East Jordan,MI49727 		none PC Frey 4North Philanthropy Fund 5,000

Drummond Island Medical Center
PO Box 98
Drummond Island,MI49726 		none PC Medical supplies for adolescents 2,500

Eagle River Watershed Council
PO Box 1477
Gypsum,CO816371477 		none PC General Operating Support 1,000

Eagle Valley Mental Health
PO BOX 40000
Vail,CO816587520 		none PC General Operating Support 1,000

Episcopal High School
1200 North Quaker Lane
Alexandria,VA22302 		none PC General operating support 3,500

Grand Action Foundation
201 Monroe Ave NW Suite 500
Grand Rapids,MI49503 		none PC Acrisure Amphitheater in Downtown Grand Rapids 500,000

Grand Action Foundation
201 Monroe Ave NW Suite 500
Grand Rapids,MI49503 		none PC Acrisure Amphitheater in Downtown Grand Rapids 500,000

Grand Rapids Community Foundation
185 Oakes St SW
Grand Rapids,MI49503 		none PC Ray McCahill Family Fund 2,000

Grand Rapids Whitewater Inc
120 Lyon St NW
Grand Rapids,MI49503 		none PC the Lower Reach portion of the Grand River Restoration 350,000

Grand Valley State University
1 Campus Dr
Allendale,MI494019403 		none PC Fully endow the Frey Foundation Chair for Family Philanthropy 400,000

Grand Valley State University
1 Campus Dr
Allendale,MI494019403 		none PC Fully endow the Frey Foundation Chair for Family Philanthropy 300,000

Great Lakes Aquatic Habitat Network and Fund Inc
PO Box 2479
Petoskey,MI49770 		none PC Support for efforts in securing individual, major gifts and diversifying funding sources as outlined in the Donor and Funding Diversification Action Steps document 5,000

Great Lakes Aquatic Habitat Network and Fund Inc
PO Box 2479 3890 Charlevoix Ave Sui
te 230
Petoskey,MI49770 		none PC Support for efforts in securing individual, major gifts and diversifying funding sources as outlined in the Donor and Funding Diversification Action Steps document 5,000

Greater Michigan Council Inc Boy Scouts of America
3213 Walker Ave NW
Grand Rapids,MI49544 		none PC The Leadership Dinner 5,000

Greater Michigan Council Inc Boy Scouts of America
3213 Walker Ave NW
Grand Rapids,MI49544 		none PC The Leadership Dinner 5,000

Harbor Springs Area Historical Society
PO Box 812
Harbor Springs,MI497401513 		none PC Bringing History to Life Comprehensive Campaign 75,000

Harbor Springs Area Historical Society
PO Box 812
Harbor Springs,MI497401513 		none PC Bringing History to Life campaign 25,000

Harbor Springs Area Historical Society
PO Box 812
Harbor Springs,MI497401513 		none PC Bringing History to Life campaign 25,000

Little Traverse Bay Humane Society
1300 West Conway Road
Harbor Springs,MI49740 		none PC Restricted support for the emergency care center 10,000

Little Traverse Sailors
PO Box 583
Harbor Springs,MI49740 		none PC Scholarship program support to serve children from economically disadvantaged households 2,000

Mary Free Bed Hospital and Rehabilitation Center
235 Wealthy St SE
Grand Rapids,MI49503 		none PC To organize holiday celebrations for children & youth receiving services during the holiday season 2,500

McLaren Northern Michigan Foundation
360 Connable Avenue
Petoskey,MI49770 		none PC To organize holiday celebrations for children & youth receiving services during the holiday season 2,500

PlayMakers Repertory Company
Buchan House 523 E Franklin Street
Chapel Hill,NC27514 		none PC Community and Student Access Fund 25,000

PlayMakers Repertory Company
Development Department Joan H Gilli
ngs Center for Dramati
Chapel Hill,NC275993235 		none PC Community and Student Access Fund 25,000

Rotary Club of Little Traverse Bay Sunset
PO Box 2101
Petoskey,MI49770 		none PC the Petoskey High School Vocational scholarship program 8,000

Rotary Club of Little Traverse Bay Sunset
PO Box 2101
Petoskey,MI49770 		none PC the Petoskey High School Vocational scholarship program 8,000

Saint Mary's Foundation
200 Jefferson Avenue SE
Grand Rapids,MI49503 		none PC Support for the New Mother's Celebration at Clinica Santa Maria 2,500

Spectrum Health Foundation
100 Michigan Street NE MC004
Grand Rapids,MI49503 		none PC To organize holiday celebrations for children & youth receiving services at Helen DeVos Children's Hospital during the holiday season 5,000

Temple Emanuel
1715 Fulton St E
Grand Rapids,MI495033802 		none PC Capital Campaign for Improvements 2,500

The Fund for Park Avenue
445 Park Avenue 9th Floor
New York,NY10022 		none PC Holiday tree lighting and Park Avenue planting 10,000

The Fund for Park Avenue
445 Park Avenue 9th Floor
New York,NY10022 		none PC Holiday tree lighting and Park Avenue planting 10,000

The STEM Greenhouse
PO Box 8571
Kentwood,MI49518 		none PC Ensuring 21st Century STEM Instruction for Minority Students in GRPS 60,000

The STEM Greenhouse
PO Box 8571
Kentwood,MI49518 		none PC Ensuring 21st Century STEM Instruction for Minority Students in GRPS 40,000

The Young Americans Inc
1132 Olympic Dr
Corona,CA928813390 		none PC general operating funds for the Harbor Springs Summer Camp Program 5,000

The Young Americans Inc
1132 Olympic Dr
Corona,CA928813390 		none PC general operating funds for the Harbor Springs Summer Camp Program 5,000

United Way of Northwest Michigan
202 East Grandview Parkway
Traverse City,MI49684 		none PC Capacity building support for Char-Em United Way 10,000

University of North Carolina at Chapel Hill
140 Friday Center Dr
Chapel Hill,NC27517 		none PC The Carolina Performing Arts Student Ticket Angel Fund for the David G. Frey '64 '67 challenge grant 25,000

University of North Carolina at Chapel Hill
140 Friday Center Dr
Chapel Hill,NC27517 		none PC The Carolina Performing Arts Student Ticket Angel Fund for the David G. Frey '64 '67 challenge grant 25,000

West Michigan Trails & Greenways Coalition
1345 Monroe Ave NW Suite 244
Grand Rapids,MI49505 		none PC Building Connections, Building Communities 150,000
Total ................................. right arrow 3b 2,645,500
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 816  
4 Dividends and interest from securities ....     14 677,809  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 -4,209 18 362,705  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 other income 		901101 64,968 14 -64,299  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 60,759 977,031 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,037,790
(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: 23017437
Software Version: 2023v5.1


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
accounting fees 79,474 11,921   54,902

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

TY 2023 DepreciationSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
Depreciation Expense   1,208,444 510,243 Straight Line   143,405 21,511    

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

TY 2023 GainLossSaleOtherAssetsSch
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
REALIZED INVESTMENT GAIN/(LOSSES)   P     19,720,189 19,361,693     358,496  

TY 2023 InvestmentsOtherSchedule2
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
global equity funds FMV 84,798,504 84,798,504
hedge funds FMV 16,642,605 16,642,605
fixed-income funds FMV 9,940,012 9,940,012
limited partnerships FMV 30,027,984 30,027,984

TY 2023 LandEtcSchedule2
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
OFFICE EQUIPMENT 473,796 294,195 179,601 179,601
LEASEHOLD IMPROVEMENTS 821,452 495,488 325,964 325,964


TY 2023 LegalFeesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal Fees 8,231 322   7,909


TY 2023 MortgagesAndNotesPayableSch
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Total Mortgage Amount: 483,316

Item No. 1
Lender's Name JP Morgan Chase Bank
Lender's Title  
Relationship to Insider none
Original Amount of Loan 750,000
Balance Due 378,461
Date of Note 2020-04
Maturity Date 2027-04
Repayment Terms monthly for seven years
Interest Rate 2.75
Security Provided by Borrower borrower's investment property, financial assets, instruments
Purpose of Loan office remodel
Description of Lender Consideration  
Consideration FMV  


TY 2023 OtherAssetsSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED DIVIDEND INCOME 23,330 40,932 40,932
ART WORK 1,166,678 1,166,678 1,166,678
RIGHT OF USE LEASE ASSET 742,079 650,451 650,451
Program Related Investment 0 250,000 250,000


TY 2023 OtherExpensesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Communications 16,772 1,124   15,617
COMPUTER/TECHNOLOGY SUPPORT 31,355 4,703   28,116
MEMBERSHIP & DUES 71,394 750   69,794
EQUIPMENT LEASE 4,876 731   4,077
INSURANCE 20,123 3,018   19,624
POSTAGE 1,642 246   1,396
TELEPHONE/Internet 20,076 3,011   16,941
Miscellaneous 39,033 5,471   31,729
Office Supplies 2,309 346   1,963
Utilities 3,005 451   2,562
Office Repairs 7,434 1,115   6,775
Equipment & Furniture 10,610 1,592   3,670


TY 2023 OtherIncomeSchedule2
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Portfolio Income 669    
PARTNERSHIP INCOME/(LOSS)   18,854  


TY 2023 OtherIncreasesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description Amount
UNREALIZED Gain 22,248,457


TY 2023 OtherLiabilitiesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Description Beginning of Year - Book Value End of Year - Book Value
LEASE LIABILITY 751,124 666,409


TY 2023 OtherProfessionalFeesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Consultants 200,000 200,000   0
Other professional fees 228,316 45,762   180,729


TY 2023 TaxesSchedule
Name:
Frey Foundation
EIN:
23-7094777
Software ID:
23017437
Software Version:
2023v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 84,993      
PAYROLL TAXES 51,145 4,772   46,373
FOREIGN TAXES   15,627