The William Penn Foundation
Total Page:16
File Type:pdf, Size:1020Kb
f- i ' Return of Private Foundation OMB No 1545-0052 Form 990-PF or Section 4947(a)(1) Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made public. Department of the Treasury ► 20 16 www.irs.gov/form990pf. Internal Revenue Service ► Information about Form 990-PF and its separate instructions is at For calendar year 2016 or tax year beginning , and ending Name of foundation A Employer identification number THE WILLIAM PENN FOUNDATION 23-1503488 Number and street (or P O box number if mail is not delivered to street address ) Room/suite B Telephone number TWO LOGAN SQUARE 11TH FLOOR 215- 988-1830 City or town, state or province , country, and ZIP or foreign postal code C If exempt i on application is pending , check here ► PHILADELPHIA, PA 19103 G Check all that apply: Initial return L_J Initial return of a former public charity D 1. Foreign organizations, check here Q Final return El Amended return 2. Foreign organizations meeting the 85% test D Address chan ge D Name change check here and attach computation H Check type of organization - X Section 501 (c)(3) exempt private foundation E If private foundation status was terminated 0 Section 4947( a)(1) nonexempt charitable trust 0 Other taxable private foundation under section 507(b)(1)(A), check here I Fair market value of all assets at end of year J Accounting method: Cash Accrual F If the foundation is in a 60-month termination (from Part ll, col (c), line 16) © Other (specify ) MODIFIED ACCRUAL under section 507(b)(1)(B), check here ► $ 2 , 2 8 7 , 8 7 4 , 0 7 9 , (Part 1, column (d) must be on cash basis) Part I Analysis of Revenue and Expenses (a) Revenue and (b ) Net investment (c) Adjusted net (d ) Disbursements (7he total of amounts in columns (b), (c), and (o) may not for charitable purposes necessarily equal the amounts in column (a)) expenses per books income income (cash basis only) I Contributions , gifts, grants, etc ., received N/A 2 Check ► a it the foundation is not required to attach Sell B o 3 on savings and temporary cash investments 480. 4 80 . S TATEMENT 2 4 Dividends and interest from securities 20,931,844. 41,070,760. S TATEMENT 3 5a Gross rents b Net rental income or (loss) I\ 6a Net gain or (loss ) from safe of assets not on line 10 96,094,511. S TATEMENT 1 O C b Gross sales price for all N assets on line 6a 96 , 094 , 511. (' > 7 Capital gain net income (from Part IV, line all- d 2) 6 8 ,953,793. 8 Net short-term capital gain 0 W 10 9 Income modifications NO 21 2 8 11 -17 (n O Gross sales less returns -il I" 1 ^a and allowances b Less Cost of goods sold w c Gross profit or (loss) z 11 Other income 5,745,167. S TATEMENT 4 12 Total. Add lines 1 through 11 117, 026 , 835 115, 770 , 200 . 0 13 Compensation of officers, directors , trustees , etc 1 , 185 , 384 . 771 , 408 . 413 , 977 14 Other employee salaries and wages 3, 467, 152 . 810 , 714. 2, 443, 068 . 15 Pension plans, employee benefits 722 , 392 . 135 ,158 . 703 , 833 . 16a Legal fees STMT 5 359,520. 21,199. 338,321. a Accounting fees STMT 6 88,735. 0. 60, 600. X b c Other professional fees STMT 7 8,404 ,469. 8,146,895. 353,802. 17 Interest 1,737 , 722. 18 Taxes STMT 8 7,271,221. 1,159,205. 182,332. 19 Depreciation and depletion 115 , 496 . 25 , 246 . E 20 Occupancy 376, 907. 78, 084. 298, 824. a 21 Travel, conferences , and meetings 453 , 827 . 130 , 976 . 316 , 499 . Mc 22 Printing and publications M 23 Other expenses STMT 9 1,666,305. 12,004,041. 1,423,579. 1; 24 Total operating and administrative C, expenses . Add lines 13 through 23 24, 111 , 408 . 25, 020 , 648. 6, 534, 8 3 5. 0 25 Contributions , gifts, grants paid 115 , 950 , 8 4 7. 115 , 4 8 6 , 8 0 2 26 Total expenses and disbursements. Add lines 24 and 25 140, 062, 255. 25, 020, 648. 122, 021, 637. 27 Subtract line 26 from line 12. a Excess of revenue over expenses and disbursements -23 , 035, 420. b Net investment income (if negative, enter -0-) 9 0 , 7 4 9, 5 5 2. c Adjusted net income (if negative enter -o-) N/A 623501 11-23-16 LHA For Paperwork Reduction Act Notice , see instructions. Form 990-PF (2016) Form 990-PF (20161 THE WILLIAM PENN FOUNDATION 23-1503488 Pane2 A111chedschedules and amounts in the description Beginning of year End of year Part II Balance Sheets column should be Iorend -of year amounts oath (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-Interest-bearing 325,939. 443,447. 443,447. 2 Savings and temporary cash investments 26,694,937. 28,646,302. 28,646,302 -. 972. 3 Accounts receivable ► Less allowance for doubtful accounts ► 1,991. 972. 972. 4 Pledges receivable ► Less. allowance for doubtful accounts ► 5 Grants receivable 6 Receivables due from officers, directors, trustees, and other disqualified persons 7 Other notes and loans receivable ► Less: allowance for doubtful accounts ► Y 8 Inventories for sale or use y 9 Prepaid expenses and deferred charges 2,192,513. 2,184,547. 2,184,547. a 10a Investments - U.S. and state government obligations STMT 11 97,346,385. 140,381,003. 140,381,003. b Investments - corporate stock STMT 12 1,00z 630,173. 989 , 081, 903. 989,081,903. c Investments - corporate bonds STMT 13 136,815,562. 113,279,029. 113,279,029. 11 Investments-land buildings and equipment basis ► Less accumulateddepremahon ► 12 Investments - mortgage loans 13 Investments - other STMT 14 1,003 718,840. 1,013 , 509 , 721. 1 , 013 , 509,721. 14 Land, buildings, and equipment, basis ► 4 , 0 7 2 , 3 7 0 Less accumulated depreciation ► 3, 725,215 . 298,354. 347,155. 347,155. 15 Other assets (describe ► 16 Total assets (to be completed by all filers - see the instructions, Also, see page 1, item l 2,270 , 024,694, 2,287 , 874 , 079. 2 , 287 , 874,079. 17 Accounts payable and accrued expenses 3,917,313. 9,311,061. 18 Grants payable 39,684,451. 40,179,747. a, 19 Deferred revenue 20 Loans from officers, directors trustees, and other disqualified persons m 21 Mortgages and other notes payable 22 Other liabilities (describe ► STATEMENT 15 ) 3,253,693. 3,101,721. 23 Total liabilities add lines 17 through 22 46,855,457. 52,592,529. Foundations that follow SFAS 117, check here ► X and complete lines 24 through 26 and lines 30 and 31. N 24 Unrestricted 1,290 254,751. 1,288 094,841. 2 25 Temporarily restricted 932,914,486. 947,186,709. co 26 Permanently restricted Foundations that do not follow SFAS 117, check here ► 0 LL and complete lines 27 through 31 y 27 Capital stock, trust principal, or current funds 28 Paid-in or capital surplus, or land, bldg., and equipment fund N < 29 Retained earnings, accumulated income, endowment, or other funds 2,223 169,237. 2,235 281,550. Z41 30 Total net assets or fund balances 31 Total liabilities and net assets/fund balances 2,270 , 024,694. 2,287 , 874 , 079. 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 30 (must agree with end -of-year figure reported on prior year' s return ) 1 2,223 , 169,237. 2 Enter amount from Part I, line 27a 2 -23,035,420. 3 Other increases not included in line 2 (itemize) ► CURRENT YEAR UNREALIZED LOSSES 3 35,147,733. 4 Add lines 1, 2 , and 3 4 2,235 , 281,550 , 5 Decreases not included in line 2 ( itemize) ► 5 0 6 Total net assets or fund balances at end of year ( line 4 minus line 5) - Part II, column (b), line 30 6 2,235,281,550. Form 990-PF (2016) 623511 11-23-16 Form 990-PF (2016) THE WILLIAM PENN FOUNDATION 23-1503488 Page 3 Part IV Capital Gains and Losses for Tax on Investment Income sold ow acquire Date acquired (d) Date sold (a) List and describe the kind(s) of property (e.g , real estate, - Purchase (c) 2-story brick warehouse; or common stock, 200 shs. MLC Co D - Donation (mo., day, yr.) (mo., day, yr.) 1a SEE STATEMENT A P b c d e (e) Gross sales price (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g) a 96,094,511. 27,140,718. 68,953,793. b C d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col. (h) gain minus (j) Adjusted basis (k) Excess of col. (i) cof (k), but not less than -0-) or Losses (from col. (h)) (i)F M V. as of 12/31/69 as of 12/31/69 over col. (I), if any a 68,953,793. b c d e If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) If (loss), enter -0- in Part I, line 7 2 68 ,953 ,793.