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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
THE GERSTNER FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)20 OLD POST ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ARMONK, NY105041314
A Employer identification number

20-8559135
B Telephone number (see instructions)

(914) 499-4900
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$202,948,230J 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) 987
2 Check right arrow.............
3 Interest on savings and temporary cash investments 126,383 126,383  
4 Dividends and interest from securities... 3,442,941 3,309,024  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 12,272,276
b Gross sales price for all assets on line 6a 61,224,032
7 Capital gain net income (from Part IV, line 2)... 10,860,645
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
892,264 73,817  
12 Total. Add lines 1 through 11........ 16,734,851 14,369,869  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 520,000 100,000   420,000
14 Other employee salaries and wages...... 621,363 0   621,363
15 Pension plans, employee benefits....... 180,881 0   180,881
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
30,234 0   30,234
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
56,048 0   50,548
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
629,818 430,240   199,578
17 Interest............... 413,276 262,099   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
783,571 10,694   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 11,089 0   11,089
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,487,474 821,016   66,422
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 4,733,754 1,624,049   1,580,115
25 Contributions, gifts, grants paid....... 12,467,392 12,467,392
26 Total expenses and disbursements. Add lines 24 and 25 17,201,146 1,624,049   14,047,507
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -466,295
b Net investment income (if negative, enter -0-) 12,745,820
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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......... 2,210,078 4,206,071 4,206,071
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) 29,429,789 Click to see attachment
List of Attached Documents:
// Content
26,808,218 		27,450,000
b Investments—corporate stock (attach schedule)....... 7,361,466 Click to see attachment
List of Attached Documents:
// Content
9,890,437 		11,015,039
c Investments—corporate bonds (attach schedule)....... 11,164,606 Click to see attachment
List of Attached Documents:
// Content
11,441,420 		11,724,107
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).......... 107,313,514 Click to see attachment
List of Attached Documents:
// Content
105,567,904 		148,553,013
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
1,000,000 		Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 158,479,453 157,914,050 202,948,230
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) Click to see attachment
List of Attached Documents:
// Content
99,108 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 99,108 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........... 158,380,345 157,914,050
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)..... 158,380,345 157,914,050
30 Total liabilities and net assets/fund balances (see instructions). 158,479,453 157,914,050
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
158,380,345
2
Enter amount from Part I, line 27a .....................
2
-466,295
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
157,914,050
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
157,914,050
Form 990-PF (2024)
Form 990-PF (2024)
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 THRU K-1 BLACKSTONE REAL ESTATE PARTNERS V L.P. P    
c THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VI.TE.2 L.P. P    
d THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH) L.P. P    
e THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.2) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.3) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH.4) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F LP P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.2) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.3) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ (AV-LH.4) L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F-NQ LP P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS IX.F L.P. P    
THRU K-1 CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT CAYMAN, L.P. P    
THRU K-1 CARLYLE GLOBAL PARTNERS MASTER COINVESTMENT, L.P. P    
THRU K-1 FIELDPOINT LLC P    
THRU K-1 GLOBAL CREDIT OPPORTUNITIES FUND LP P    
THRU K-1 WEST STREET CAPITAL PARTNERS VIII PARALLEL, L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS X.F L.P. P    
THRU K-1 BLACKSTONE REAL ESTATE PARTNERS VIII.F (AV-LH-5) L.P. P    
CARLYLE PROPERTY INVESTORS, LP P    
BLACKSTONE NSS COMMUNICATIONS PARTNERS (CAYMAN) L.P. P    
BLACKSTONE REAL ESTATE PARTNERS VI AND AFFILIATES P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 58,298,192   52,137,944 6,160,248
b       9
c       4
d       21
e       12
      9
      2,093
      45,309
      -24,272
      44,424
      65,252
      217
      3,434
      1,423,275
      -367,424
      -66,008
      17,612
      -17,884
      22,855
      13,236
      568,081
      639
      43,663
2,925,840     2,925,840
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       6,160,248
b       9
c       4
d       21
e       12
      9
      2,093
      45,309
      -24,272
      44,424
      65,252
      217
      3,434
      1,423,275
      -367,424
      -66,008
      17,612
      -17,884
      22,855
      13,236
      568,081
      639
      43,663
      2,925,840
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 10,860,645
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) 1 177,167
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........................... 3 177,167
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- ..... 5 177,167
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 102,864
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 200,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 302,864
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 4,893
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 10 120,804
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow120,804 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowFL, NY
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? 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 instructions.................
12
 
No
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 arrowTHE FOUNDATION Telephone no.right arrow (914) 499-4900

Located atright arrow20 OLD POST ROADARMONKNY ZIP+4right arrow105041314
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 2024, 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 (2024)
Form 990-PF (2024)
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)
Yes
 
(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 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
LOUIS V GERSTNER JR TRUSTEE, CHAIRPERSON
8.00 		0 0 0
20 OLD POST ROAD
ARMONK,NY105041314
DR ELIZABETH R GERSTNER TRUSTEE, VICE CHAIRPERSON, VP PROGRAMS
8.00 		100,000 10,575 0
20 OLD POST ROAD
ARMONK,NY105041314
BESSEMER TRUST COMPANY OF FLORIDA TRUSTEE
1.00 		0 0 0
20 OLD POST ROAD
ARMONK,NY105041314
KARA V KLEIN TRUSTEE, EXECUTIVE DIRECTOR
25.00 		420,000 25,543 0
20 OLD POST ROAD
ARMONK,NY105041314
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
ALICE GOH PROGRAM DIRECTOR
40.00 		340,000 27,543 0
20 OLD POST ROAD
ARMONK,NY105041314
MOLLY C GELINAS PROGRAM OFFICER
40.00 		145,000 15,370 0
20 OLD POST ROAD
ARMONK,NY105041314
MICHAEL COSTA GRANTS MANAGEMENT AS
40.00 		80,000 9,275 0
20 OLD POST ROAD
ARMONK,NY105041314
VICTORIA COKER PROGRAM OFFICER
40.00 		56,363 4,213 0
20 OLD POST ROAD
ARMONK,NY105041314
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
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
BLACKSTONE REAL ESTATE ADVISORS LP INVESTMENT MANAGEMENT 305,645
345 PARK AVENUE SUITE 1100
NEW YORK,NY10154
AVON LANE LLC FOUNDATION ADMINISTRATION 111,833
20 OLD POST ROAD
ARMONK,NY10504
PKF O'CONNOR DAVIES ADVISORY LLC ACCOUNTING AND TAX SERVICES 56,048
500 MAMARONECK AVENUE
HARRISON,NY10528
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 (2024)
Form 990-PF (2024)
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
200,410,703
b
Average of monthly cash balances.......................
1b
3,110,293
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
203,520,996
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
203,520,996
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
3,052,815
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
200,468,181
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
10,023,409
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
10,023,409
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
177,167
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
110,904
c
Add lines 2a and 2b............................
2c
288,071
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
9,735,338
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
9,735,338
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
9,735,338
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
14,047,507
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
14,047,507
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 9,735,338
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 3,637,264
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 14,047,507
a Applied to 2023, but not more than line 2a 3,637,264
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 2024 distributable amount..... 9,735,338
e Remaining amount distributed out of corpus 674,905
5 Excess distributions carryover applied to 2024. 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 5 674,905
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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		674,905
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024.... 674,905
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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).)
LOUIS V GERSTNER JR
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
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 (2024)
Form 990-PF (2024)
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

ACTIVATE GLOBAL INC

2600 TENTH STREET SUITE 300
BERKELEY,CA94710 		N/A PC ENVIRONMENTAL RESEARCH 609,052

ADOPT-A-FAMILY OF THE PALM BEACHES INC

1712 SECOND AVENUE NORTH
LAKE WORTH,FL33460 		N/A PC EMERGENCY GRANTS PROGRAM 337,000

AID TO VICTIMS OF DOMESTIC ABUSE INC

PO BOX 6161
DELRAY BEACH,FL33482 		N/A PC EMERGENCY GRANTS PROGRAM 220,000

ALZHEIMER'S DISEASE RESEARCH FOUNDATION

34 WASHINGTON STREET SUITE 310
WELLESLEY HILLS,MA02481 		N/A PC BIOMEDICAL RESEARCH 10,000

COALITION FOR THE HOMELESS INC

129 FULTON STREET
NEW YORK,NY10038 		N/A PC EMERGENCY GRANTS PROGRAM 465,000

COLORADO STATE UNIVERSITY FOUNDATION

PO BOX 1870
FORT COLLINS,CO80523 		N/A PC ENVIRONMENTAL RESEARCH 84,434

COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK

622 WEST 113TH STREET MAIL CODE
4524
NEW YORK,NY10025 		N/A PC BIOMEDICAL RESEARCH 1,000,000

CORNELL UNIVERSITY

377 PINE TREE ROAD
ITHACA,NY14850 		N/A PC ENVIRONMENTAL RESEARCH 493,271

DIOCESE OF PALM BEACH

9995 NORTH MILITARY TRAIL
PALM BEACH GARDENS,FL33410 		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 414,000

ENVIRONMENTAL DEFENSE FUND INCORPORATED

257 PARK AVENUE SOUTH 17TH FLOOR
NEW YORK,NY10010 		N/A PC ENVIRONMENTAL RESEARCH 289,906

FAMILYAID BOSTON INC

3815 WASHINGTON STREET
BOSTON,MA02130 		N/A PC EMERGENCY GRANTS PROGRAM 438,000

FOUNDATIONS AND DONOR INTERESTS IN CATHOLIC ACTIVITIES

PO BOX 33667
WASHINGTON,DC20033 		N/A PC ANNUAL DUES 10,000

GOOD SHEPHERD SERVICES

305 SEVENTH AVENUE 9TH FLOOR
NEW YORK,NY10001 		N/A PC EMERGENCY GRANTS PROGRAM 310,000

HEART OF DINNER INC

269 S BEVERLY DRIVE SUITE 338
BEVERLY HILLS,CA90212 		N/A PC FOOD PANTRY PROGRAM 5,000

HOMESTART INC

105 CHAUNCY STREET SUITE 502
BOSTON,MA02111 		N/A PC EMERGENCY GRANTS PROGRAM 221,000

LEGAL SERVICES OF THE HUDSON VALLEY

90 MAPLE AVENUE
WHITE PLAINS,NY10601 		N/A PC EMERGENCY GRANTS PROGRAM 328,000

MAKE THE ROAD NEW YORK

301 GROVE STREET
BROOKLYN,NY11237 		N/A PC EMERGENCY GRANTS PROGRAM 140,000

MASS GENERAL BRIGHAM INCORPORATED

125 NASHUA STREET SUITE 540
BOSTON,MA02114 		N/A PC BIOMEDICAL RESEARCH 100,000

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

77 MASSACHUSETTS AVENUE SUITE
NE49-31
CAMBRIDGE,MA02139 		N/A PC ENVIRONMENTAL RESEARCH 479,836

MEMORIAL SLOAN-KETTERING CANCER CENTER

PO BOX 27106
NEW YORK,NY10087 		N/A PC BIOMEDICAL RESEARCH 20,000

METROPOLITAN NEW YORK COORDINATING COUNCIL ON JEWISH POVERTY

1 STATE STREET PLAZA 24TH FLOOR
NEW YORK,NY10004 		N/A PC EMERGENCY GRANTS PROGRAM 355,000

NATIONAL MULTIPLE SCLEROSIS SOCIETY

733 3RD AVENUE 3RD FLOOR
NEW YORK,NY10017 		N/A PC BIOMEDICAL RESEARCH 10,000

OAK ROSE FUND

2624 S KRAMERIA STREET
DENVER,CO80222 		N/A PC ANNUAL DUES 10,000

PART OF THE SOLUTION INC

2759 WEBSTER AVENUE
BRONX,NY10458 		N/A PC EMERGENCY GRANTS PROGRAM 365,000

PERSON TO PERSON INC

1864 POST ROAD
DARIEN,CT06820 		N/A PC SOCIAL SERVICES 10,000

PHILANTHROPY NEW YORK INC

320 EAST 43RD STREET
NEW YORK,NY10017 		N/A PC GENERAL OPERATING EXPENSES 11,050

SAFE HORIZON INC

2 LAFAYETTE STREET 3RD FLOOR
NEW YORK,NY10007 		N/A PC EMERGENCY GRANTS PROGRAM 395,000

SANCTUARY FOR FAMILIES INC

WALL STREET STATION
NEW YORK,NY10268 		N/A PC EMERGENCY GRANTS PROGRAM 250,000

SHARING SHELF

47 PURDY AVENUE
PORT CHESTER,NY10573 		N/A PC EDUCATION 8,403

SUMMER ON THE HILL

4400 TIBBETT AVENUE
BRONX,NY10471 		N/A PC EDUCATION 10,000

THE TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK

622 WEST 113TH STREET MAIL CODE
4524
NEW YORK,NY10025 		N/A PC BIOMEDICAL RESEARCH 75,000

TREASURE COAST FOOD BANK INCORPORATED

401 ANGLE ROAD
FORT PIERCE,FL34947 		N/A PC FOOD PANTRY PROGRAM 1,006,819

TRUSTEES OF DARTMOUTH COLLEGE

6066 DEVELOPMENT OFFICE
HANOVER,NH03755 		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 1,756,000

TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA

3451 WALNUT STREET ROOM 305
PHILADELPHIA,PA19104 		N/A PC ENVIRONMENTAL RESEARCH 200,154

UNITED AGAINST POVERTY INC

1400 27TH STREET
VERO BEACH,FL32960 		N/A PC EMERGENCY GRANTS PROGRAM 150,000

VERA INSTITUTE OF JUSTICE INC

34 35TH STREET SUITE 4-2A
BROOKLYN,NY11232 		N/A PC SOCIAL SERVICES 10,000

WINDWARD FUND

1828 L STREET NW SUITE 300C
WASHINGTON,DC20036 		N/A PC ENVIRONMENTAL RESEARCH 1,750,000

WOODS HOLE OCEANOGRAPHIC INSTITUTION

183 OYSTER POND ROAD MAIL STOP 40
WOODS HOLE,MA02543 		N/A PC ENVIRONMENTAL RESEARCH 120,467
Total .................................right arrow 3a 12,467,392
bApproved for future payment

ACTIVATE GLOBAL INC
2600 TENTH STREET SUITE 300
BERKELEY,CA94710 		N/A PC ENVIRONMENTAL RESEARCH 390,948

COLORADO STATE UNIVERSITY FOUNDATION
PO BOX 1870
FORT COLLINS,CO80523 		N/A PC ENVIRONMENTAL RESEARCH 84,434

COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK
622 WEST 113TH STREET MAIL CODE
4524
NEW YORK,NY10025 		N/A PC BIOMEDICAL RESEARCH 1,000,000

CORNELL UNIVERSITY
377 PINE TREE ROAD
ITHACA,NY14850 		N/A PC ENVIRONMENTAL RESEARCH 268,477

DIOCESE OF PALM BEACH
9995 NORTH MILITARY TRAIL
PALM BEACH GARDENS,FL33410 		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 420,000

ENVIRONMENTAL DEFENSE FUND INCORPORATED
257 PARK AVENUE SOUTH 17TH FLOOR
NEW YORK,NY10010 		N/A PC ENVIRONMENTAL RESEARCH 310,094

FAMILY SERVICES OF WESTCHESTER INC
2975 WESTCHESTER AVENUE SUITE 401
PURCHASE,NY10577 		N/A PC SOCIAL SERVICES 883

FOUNDATIONS AND DONOR INTERESTS IN CATHOLIC ACTIVITIES
PO BOX 33667
WASHINGTON,DC20033 		N/A PC ANNUAL DUES 10,000

FOUNDATIONS IN EDUCATION INC
238 JEWETT AVENUE
BRIDGEPORT,CT06606 		N/A PC EDUCATION 12,040

MASSACHUSETTS INSTITUTE OF TECHNOLOGY
77 MASSACHUSETTS AVENUE SUITE
NE49-31
CAMBRIDGE,MA02139 		N/A PC ENVIRONMENTAL RESEARCH 255,057

PHILANTHROPY NEW YORK INC
320 EAST 43RD STREET
NEW YORK,NY10017 		N/A PC ANNUAL DUES 14,850

TRUSTEES OF DARTMOUTH COLLEGE
6066 DEVELOPMENT OFFICE
HANOVER,NH03755 		N/A PC EDUCATION - SCHOLARSHIP PROGRAM 1,670,000

TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
3451 WALNUT STREET ROOM 305
PHILADELPHIA,PA19104 		N/A PC ENVIRONMENTAL RESEARCH 152,934

WINDWARD FUND
1828 L STREET NW SUITE 300C
WASHINGTON,DC20036 		N/A PC ENVIRONMENTAL RESEARCH 1,750,000

WOODS HOLE OCEANOGRAPHIC INSTITUTION
183 OYSTER POND ROAD MAIL STOP 40
WOODS HOLE,MA02543 		N/A PC ENVIRONMENTAL RESEARCH 61,317
Total ................................. right arrow 3b 6,401,034
Form 990-PF (2024)
Form 990-PF (2024)
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 ........... 		    14 126,383  
4 Dividends and interest from securities .... 901101 133,917 14 3,309,024  
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 .....     14 2,128  
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 945,030 18 11,327,246  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME THRU SCHEDULE K-1S 		901101 818,447 14 71,689  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 1,897,394 14,836,470 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
16,733,864
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX RETURN PREPARATION FEES 45,048 0   39,548
AGREED UPON PROCEDURES - CONTROLS REVIEW 11,000 0   11,000

TY 2024 InvestmentsCorpBondsSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 1.15% 01/30/2028 262,000 QTY 224,796 237,500
ABBVIE INC 3.8% 03/15/2025 147,000 QTY 141,627 146,735
AERCAP IRELAND CAP/GLOBA 3.5% 01/15/2025 150,000 QTY 140,430 149,916
AIR LEASE CORPORATION 3.25% 03/01/2025 133,000 QTY 124,154 132,620
ALEXANDRIA REAL ESTATE EQUITIE 4.75% 04/15/2035 67,000 QTY 65,265 62,868
ALEXANDRIA REAL ESTATE EQUITIES 2.95% 03/15/2034 70,000 QTY 55,991 57,641
ALPHABET INC. 1.1% 08/15/2030 280,000 QTY 222,902 233,142
AMERICAN TOWER CORP 2.4% 03/15/2025 102,000 QTY 94,174 101,461
AON CORP/AON GLOBAL HOLD 5.35% 02/28/2033 80,000 QTY 79,078 79,706
APPLE INC. 1.2% 02/08/2028 262,000 QTY 224,717 236,837
ASTRAZENECA PLC 1.375% 08/06/2030 204,000 QTY 163,910 169,875
AT&T INC. 2.55% 12/01/2033 126,000 QTY 98,856 101,560
BANK OF MONTREAL HYBRID 09/10/2030 103,000 QTY 103,187 101,022
BANK OF NOVA SCOTIA (THE) MTN 2.45% 02/02/2032 248,000 QTY 205,201 207,043
BANK OF NY MELLON CORP MTN 1.65% 07/14/2028 260,000 QTY 224,957 235,071
BAT INTL FINANCE PLC 4.448% 03/16/2028 63,000 QTY 62,357 61,988
BAXTER INTERNATIONAL INC 2.539% 02/01/2032 81,000 QTY 61,051 67,563
BERKSHIRE HATHAWAY ENERGY COMP 1.65% 05/15/2031 212,000 QTY 167,855 172,295
BERRY GLOBAL INC 1.57% 01/15/2026 86,000 QTY 77,876 82,993
BROADCOM INC 4.3% 11/15/2032 72,000 QTY 65,915 67,923
CANADIAN IMPERIAL BANK OF COMM 5.26% 04/08/2029 137,000 QTY 140,289 138,086
CANADIAN IMPERIAL BANK OF COMM HYBRID 09/11/2030 70,000 QTY 70,743 68,577
CANADIAN NATURAL RESOURCES LIM 3.85% 06/01/2027 63,000 QTY 62,059 61,659
CHARLES SCHWAB CORPORATION (THE) 1.65% 03/11/2031 280,000 QTY 223,504 229,298
CITIGROUP INC. HYBRID 05/01/2032 176,000 QTY 146,842 149,098
COCA-COLA CO/THE 2.125% 09/06/2029 180,000 QTY 156,110 161,294
COCA-COLA COMPANY (THE) 1.375% 03/15/2031 83,000 QTY 65,692 67,971
COMCAST CORPORATION 1.5% 02/15/2031 182,000 QTY 143,536 148,183
CROWN CASTLE INTL CORP 3.1% 11/15/2029 97,000 QTY 86,007 88,222
CVS HEALTH CORPORATION 4.875% 07/20/2035 104,000 QTY 99,534 94,487
DOLLAR GENERAL CORPORATION 5.45% 07/05/2033 59,000 QTY 54,012 57,951
DOW CHEMICAL CO/THE 5.15% 02/15/2034 62,000 QTY 62,657 60,642
EBAY INC. 1.9% 03/11/2025 153,000 QTY 140,973 152,090
ECOLAB INC. 1.3% 01/30/2031 215,000 QTY 168,334 174,068
EMERSON ELECTRIC CO. 2.0% 12/21/2028 258,000 QTY 223,338 232,933
ENBRIDGE INC 2.5% 01/15/2025 153,000 QTY 142,758 152,845
ENERGY TRANSFER LP 5.25% 07/01/2029 77,000 QTY 76,527 77,366
EVERSOURCE ENERGY 3.375% 03/01/2032 100,000 QTY 88,960 87,579
EXXON MOBIL CORPORATION 2.44% 08/16/2029 179,000 QTY 159,636 163,355
FISERV INC 5.6% 03/02/2033 86,000 QTY 86,773 87,156
FOX CORP 3.05% 04/07/2025 133,000 QTY 125,540 132,363
GENERAL MOTORS FINANCIAL COMPANY 3.8% 04/07/2025 99,000 QTY 93,566 98,688
GILEAD SCIENCES, INC. 4.0% 09/01/2036 132,000 QTY 115,742 116,541
HOME DEPOT INC 0.9% 03/15/2028 81,000 QTY 68,281 72,294
HOME DEPOT INC 1.375% 03/15/2031 198,000 QTY 155,480 160,388
HUMANA INC. 5.375% 04/15/2031 88,000 QTY 87,320 87,290
JOHN DEERE CAPITAL CORP MTN 2.8% 07/18/2029 249,000 QTY 224,319 229,508
JOHNSON & JOHNSON 4.375% 12/05/2033 213,000 QTY 214,412 206,459
KINDER MORGAN INC 4.8% 02/01/2033 61,000 QTY 58,085 58,006
KRAFT HEINZ FOODS CO 5.0% 07/15/2035 66,000 QTY 64,312 63,921
L3HARRIS TECHNOLOGIES, INC. 4.4% 06/15/28 USD 67,000 QTY 67,529 65,813
MERCK & CO., INC. 1.9% 12/10/2028 208,000 QTY 181,180 187,637
METLIFE, INC 5.7% 06/15/2035 185,000 QTY 199,865 190,202
MORGAN STANLEY HYBRID 12/10/2026 98,000 QTY 94,099 94,510
MPLX LP 5.0% 03/01/2033 63,000 QTY 60,462 60,520
NASDAQ, INC. 5.55% 02/15/2034 115,000 QTY 116,379 116,072
NORTHERN TRUST CORP 3.15% 05/03/2029 241,000 QTY 222,515 225,747
NXP B.V. 4.4% 06/01/2027 94,000 QTY 94,086 93,093
ORACLE CORPORATION 2.5% 04/01/2025 101,000 QTY 93,826 100,419
PEPSICO, INC. 2.625% 07/29/2029 250,000 QTY 223,778 229,228
PHILIP MORRIS INTL INC 5.5% 09/07/2030 163,000 QTY 160,840 166,927
PNC FINANCIAL SERVICES GROUP, HYBRID 01/24/2034 68,000 QTY 63,525 66,298
PRAXAIR INC 1.1% 08/10/2030 285,000 QTY 224,412 235,778
PROCTER & GAMBLE CO/THE 1.2% 10/29/2030 280,000 QTY 223,493 231,263
PROLOGIS, L.P. 1.25% 10/15/2030 72,000 QTY 56,435 59,006
QUALCOMM INCORPORATED 1.3% 05/20/2028 263,000 QTY 223,971 236,016
REALTY INCOME CORPORATION 4.9% 07/15/2033 139,000 QTY 134,578 134,758
REPUBLIC SERVICES INC 1.45% 02/15/2031 183,000 QTY 143,942 148,459
ROPER TECHNOLOGIES, INC. 3.8% 12/15/2026 62,000 QTY 60,847 61,037
SABINE PASS LIQUEFACTION, LLC 5.625% 03/01/2025 16,0000 QTY 15,912 16,006
SALESFORCE.COM, INC. 1.5% 07/15/2028 261,000 QTY 224,275 234,514
SHELL INTERNATIONAL FIN 4.125% 05/11/2035 210,000 QTY 189,786 184,444
STATE STREET CORPORATION HYBRID 05/18/2034 195,000 QTY 191,565 193,672
THE CIGNA GROUP 5.25% 02/15/2034 60,000 QTY 61,369 58,860
THE J. M. SMUCKER COMPANY 4.25% 03/15/2035 64,000 QTY 58,119 58,007
THERMO FISHER SCIENTIFIC 1.75% 10/15/2028 195,000 QTY 167,213 175,369
TJX COS INC 1.15% 05/15/2028 216,000 QTY 183,131 192,711
T-MOBILE USA, INC. 2.4% 03/15/2029 111,000 QTY 95,301 99,972
TRUIST FINANCIAL CORP HYBRID MTN 01/26/2029 67,000 QTY 65,580 66,664
U.S. BANCORP MTN 1.375% 07/22/2030 268,000 QTY 213,644 221,285
UNITEDHEALTH GROUP INC 4.625% 07/15/2035 195,000 QTY 191,757 184,172
VIRGINIA ELEC & POWER CO 2.875% 07/15/2029 143,000 QTY 128,109 131,744
WACHOVIA CORPORATION 5.5% 08/01/2035 181,000 QTY 182,998 180,940
WALT DISNEY COMPANY (THE) 2.0% 09/01/2029 66,000 QTY 55,929 58,708
WALT DISNEY COMPANY (THE) 2.2% 01/13/2028 124,000 QTY 111,464 115,795
WASTE MANAGEMENT INC 1.5% 03/15/2031 182,000 QTY 143,596 148,172
XCEL ENERGY INC 5.45% 08/15/2033 183,000 QTY 177,618 181,439
XYLEM INC 1.95% 01/30/2028 147,000 QTY 128,652 134,773

TY 2024 InvestmentsCorpStockSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Name of Stock End of Year Book Value End of Year Fair Market Value
ALIMENTATION COUCHE-TARD INC. (ATD.TO) 2,869.000 SHARES 165,997 158,912
ALPHABET INC CLASS C (GOOG) 3,086.000 SHARES 478,761 587,697
AMAZON.COM INC (AMZN) 2,547.000 SHARES 452,145 558,786
AMEREN CORP (AEE) 1,508.000 SHARES 114,771 134,423
APOLLO GLOBAL MANAGEMENT I (APO) 679.000 SHARES 104,951 112,143
APPLE INC (AAPL) 2,644.000 SHARES 534,284 662,110
APPLIED MATERIALS (AMAT) 573.000 SHARES 97,345 93,186
ASHTEAD GROUP (ASHTY) 2,083.000 SHARES 148,417 129,450
ASML HOLDING (ASML) 138.000 SHARES 112,160 97,303
AUTOZONE INC (AZO) 14.000 SHARES 38,876 44,828
BANK OF AMERICA CORP (BAC) 5,746.000 SHARES 207,810 252,536
BROADCOM INC (AVGO) 766.000 SHARES 125,242 177,589
BROOKFIELD CORPORATION (BN) 2,619.000 SHARES 125,036 150,461
BUILDERS FIRSTSOURCE INC (BLDR) 240.000 SHARES 47,429 34,303
CBRE GROUP INC (CBRE) 616.000 SHARES 80,996 80,874
CENCORA INC (COR) 635.000 SHARES 146,636 142,671
CONOCOPHILLIPS (COP) 2,015.000 SHARES 220,210 199,827
CONSTELLATION SOFTWARE (CNSWF) 46.000 SHARES 136,414 142,063
COPART INC (CPRT) 1,443.000 SHARES 72,507 82,813
COSTCO WHSL CORP NEW (COST) 129.000 SHARES 102,468 118,198
CRH PLC (CRH) 1,208.000 SHARES 98,596 111,764
DANAHER CORP (DHR) 813.000 SHARES 207,419 186,624
EATON CORP PLC (ETN) 278.000 SHARES 80,841 92,259
FISERV INC (FI) 1,106.000 SHARES 182,856 227,194
FORTINET INC (FTNT) 1,761.000 SHARES 130,319 166,379
GARTNER INC CL A (IT) 400.000 SHARES 192,447 193,788
HILTON WORLDWIDE HOLDINGS (HLT) 605.000 SHARES 124,456 149,531
HOWMET AEROSPACE INC (HWM) 1,478.000 SHARES 111,049 161,648
INTERCONTINENTAL EXCHG INC (ICE) 1,644.000 SHARES 237,516 244,972
JPMORGAN CHASE & CO (JPM) 1,207.000 SHARES 229,033 289,329
LOWES COS INC (LOW) 480.000 SHARES 112,939 118,464
LVMH MOET HENNESSY VUITTON (LVMHF) 194.000 SHARES 149,248 128,082
MARVELL TECHNOLOGY INC (MRVL) 1,911.000 SHARES 131,106 211,069
MCKESSON CORP (MCK) 297.000 SHARES 157,328 169,263
MERCADOLIBRE INC (MELI) 77.000 SHARES 147,220 130,933
META PLATFORMS INC (META) 676.000 SHARES 336,783 395,804
MICROSOFT CORP (MSFT) 1,681.000 SHARES 702,102 708,541
MOTOROLA SOLUTIONS INC (MSI) 477.000 SHARES 180,033 220,483
MSCI INC (MSCI) 325.000 SHARES 192,375 195,003
NEXTERA ENERGY INC (NEE) 1,561.000 SHARES 108,888 111,908
NORTHROP GRUMMAN CORP (NOC) 250.000 SHARES 119,749 117,322
NVIDIA CORP (NVDA) 4,834.000 SHARES 433,241 649,157
NXP SEMICONDUCTORS NV (NXPI) 444.000 SHARES 107,330 92,285
OLD DOMINION FREIGHT (ODFL) 232.000 SHARES 48,413 40,924
O'REILLY AUTO INC NEW (ORLY) 69.000 SHARES 75,554 81,820
PROLOGIS INC (PLD) 454.000 SHARES 57,558 47,987
S&P GLOBAL INC. (SPGI) 213.000 SHARES 98,255 106,080
SCHLUMBERGER LTD (SLB) 3,778.000 SHARES 170,943 144,848
TAKE-2 INTERACTIVE (TTWO) 1,074.000 SHARES 170,203 197,701
THERMO FISHER SCIENTIFIC (TMO) 334.000 SHARES 194,859 173,756
TRANSUNION (TRU) 2,441.000 SHARES 203,448 226,305
UNITEDHEALTH GROUP INC (UNH) 652.000 SHARES 356,065 329,820
VISA INC (V) 1,364.000 SHARES 384,944 431,078
WALMART INC (WMT) 2,244.000 SHARES 144,866 202,745

TY 2024 InvestmentsGovtObligationsSch
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
US Government Securities - End of Year Book Value:

26,808,218
US Government Securities - End of Year Fair Market Value:

27,450,000
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 InvestmentsOtherSchedule2
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ACF IX CO-INVESTMENT (NON-US), L.P AT COST 261,893 283,572
ACF VIII EMPLOYEE CO-INVESTMENT (NON-U.S.), L.P. AT COST 1,939,532 2,278,403
ASF VII CO-INVESTMENT (NON-US), L.P. AT COST 977,738 1,640,989
ASF VIII CO-INVESTMENT (NON-US), L.P AT COST 400,000 588,561
BC ASIA V CTB INVESTORS, L.P. AT COST 282,639 350,162
BLACKSTONE COMMUNICATIONS PARTNER I L.P. AND AFFILIATES AT COST 0 612
BLACKSTONE MILEWAY LOGISTICS LP AT COST 815,012 806,884
BLACKSTONE REAL ESTATE PARTNERS IX AND AFFILIATES AT COST 6,964,418 8,183,891
BLACKSTONE REAL ESTATE PARTNERS V AND AFFILIATES AT COST 68,432 6,972
BLACKSTONE REAL ESTATE PARTNERS VI AND AFFILIATES AT COST 10,133 2,597
BLACKSTONE REAL ESTATE PARTNERS VIII AND AFFILIATES AT COST 404,814 4,140,815
BLACKSTONE REAL ESTATE PARTNERS X AND AFFILIATES AT COST 2,555,769 2,984,063
CARLYLE GROUP FUNDS AT COST 29,179,736 42,735,926
CARLYLE PROPERTY INVESTORS, LP AT COST 0 3,732,065
FIELDPOINT LLC AT COST 9,687,599 12,483,845
GLOBAL CREDIT OPPORTUNITIES FUND, L.P. AT COST 2,514,875 1,678,878
MATRIX CAPITAL MANAGEMENT FUND (OFFSHORE) LTD. AT COST 980,713 7,749,827
T. ROWE PRICE CAPITAL APPRECIATION FUND I CLASS (TRAIX) 531,777.217 SHARES AT COST 15,719,638 18,404,809
TIGER GLOBAL PRIV INV PARTNERS XV FEEDER, L.P AT COST 949,881 681,987
TIGER GLOBAL, LTD AT COST 4,850,000 12,790,946
VANGUARD DIVIDEND GROWTH FUND (VDIGX) 286,096.811 SHARES AT COST 9,861,279 10,359,566
VANGUARD INTERMEDIATE TERM INVEST (VFIDX) 580,724.476 SHARES AT COST 5,007,418 4,971,001
VANGUARD PRIMECAP ADMIRAL CL (VPMAX) 59,359.946 SHARES AT COST 10,620,612 9,873,933
WEST STREET CAPITAL PARTNERS VIII - PARALLEL, L.P AT COST 410,469 495,257
WEST STREET GLOBAL GROWTH PARTNERS OFFSHORE FEEDER FUND, LLC AT COST 543,750 585,091
WEST STREET STRATEGIC SOLUTIONS OFFSHORE FEEDER FUND I, LLC AT COST 561,554 742,361

TY 2024 LegalFeesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
GENERAL AND ADMINISTRATIVE LEGAL COUNSEL 30,234 0   30,234


TY 2024 OtherAssetsSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
INVESTMENT REDEMPTION RECEIVABLES 1,000,000    


TY 2024 OtherExpensesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES/INTEREST 14 0   14
INFORMATION TECHNOLOGY 16,388 0   16,388
INSURANCE 16,550 0   16,550
MEMBERSHIP DUES 18,600 0   18,600
OFFICE AND OTHER EXPENSES 3,865 0   3,865
PAYROLL PROCESSING FEES 11,005 0   11,005
OTHER INVESTMENT EXPENSES 1,915 1,915   0
OTHER DEDUCTIONS THRU SCHEDULE K-1'S 1,419,137 819,101   0


TY 2024 OtherIncomeSchedule2
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INVESTMENT INCOME 2,128 2,128 2,128
OTHER INCOME THRU SCHEDULE K-1S 890,136 71,689 890,136


TY 2024 OtherLiabilitiesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Description Beginning of Year - Book Value End of Year - Book Value
INVESTMENT COVERED CALL OPTIONS 99,108 0


TY 2024 OtherProfessionalFeesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EMPLOYEE RECRUITMENT SERVICES 87,745 0   87,745
FOUNDATION ADMINISTRATION 111,833 0   111,833
INVESTMENT MANAGEMENT AND ADVISORY 430,240 430,240   0


TY 2024 TaxesSchedule
Name:
THE GERSTNER FAMILY FOUNDATION
EIN:
20-8559135
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 410,000 0   0
FEDERAL UNRELATED BUSINESS INCOME TAX 334,678 0   0
STATE UNRELATED BUSINESS INCOME TAX 7,639 0   0
FOREIGN TAXES WITHHELD 1,548 1,548   0
FOREIGN TAXES WITHHELD THRU SCHEDULE K-1'S 29,706 9,146   0