BETA

THE KHOURY FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
THE KHOURY FOUNDATION (EIN 46-4261545)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-15
IRS object ID
202423209349103812
Schema version
2023v5.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-11-15T11:07:45-06:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ERNST & YOUNG US LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE MANHATTAN WESTAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN464261545EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Khoury FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% AYCO COMPANY LPInCareOfNm
Business Name ControlKHOUBusinessNameControlTxt
Phone5186405000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O The Ayco Company PO Box 15201AddressLine1Txt
CityAlbanyCityNm
State AbbreviationNYStateAbbreviationCd
ZIP122125201ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonJohn KhouryPersonNm
Person TitlePresidentPersonTitleTxt
Phone5186405000PhoneNum
Signature2024-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJessica PernaPreparerPersonNm
PTINP00844664PTIN
Phone2127733000PhoneNum
Preparation2024-11-15PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$11,178,878FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$0ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$29,835InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$29,835InterestOnSavNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$262,774NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$221,140GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$221,140CapGainNetIncmNetInvstIncmAmt
Other Income Rev And Expnss$1,794OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm-$7,820OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$294,403TotalRevAndExpnssAmt
Total Net Invst Incm$243,155TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$60,000TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$750OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$750OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$60,750TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$750TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$850,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$850,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$910,750TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$850,750TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$616,347ExcessRevenueOverExpensesAmt
Net Investment Income$243,155NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$786,074SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$205,159SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$205,159SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$9,290,451OtherInvestmentsBOYAmt
Other Investments EOY$9,255,019OtherInvestmentsEOYAmt
Other Investments EOYFMV$10,973,719OtherInvestmentsEOYFMVAmt
Total Assets BOY$10,076,525TotalAssetsBOYAmt
Total Assets EOY$9,460,178TotalAssetsEOYAmt
Total Assets EOYFMV$11,178,878TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$10,076,525CapitalStockBOYAmt
Capital Stock EOY$9,460,178CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$10,076,525TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$9,460,178TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$10,076,525TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$9,460,178TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$10,076,525TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$616,347ExcessRevenueOverExpensesAmt
Subtotal$9,460,178SubtotalAmt
Tot Net Ast Or Fund Balances EOY$9,460,178TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyK-1 LONG POND OFFSHORE MASTER LPPropertyDesc
How AcquiredPHowAcquiredCd
Gross Sales Price$221,140GrossSalesPriceAmt
Gain Or Loss$221,140GainOrLossAmt
Gains Minus Excess Or Losses$221,140GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$221,140CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$3,380InvestmentIncomeExciseTaxAmt
Subtotal$3,380SubtotalAmt
Tax Based On Investment Income$3,380TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$5,030EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$10,000ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$15,030TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$0EsPenaltyAmt
Overpayment$11,650OverpaymentAmt
Applied To ES Tax$11,650AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitYes (true)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (true)Form990TFiledInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateNYOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressNONEWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1AYCO COMPANY LPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone5186405000PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1100 COLISEUM DRIVEAddressLine1Txt
CityCOHOESCityNm
State AbbreviationNYStateAbbreviationCd
ZIP12047ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JOHN KHOURY
C/O The Ayco Company PO Box 15201AlbanyNY122125201PRESIDENT/director1.0$0$0$0
Breanna KHOURY
C/O The Ayco Company PO Box 15201AlbanyNY122125201VICE PRESIDENT/director1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1NONEDescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$569,809AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$10,657,851FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$11,227,660TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$11,227,660AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$168,415CashDeemedCharitableAmt
Net Vl Noncharitable Assets$11,059,245NetVlNoncharitableAssetsAmt
Minimum Investment Return$552,962MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$552,962MinimumInvestmentReturnAmt
Tax Based On Investment Income$3,380TaxBasedOnInvestmentIncomeAmt
Total Tax$3,380TotalTaxAmt
Distributable Before Adj$549,582DistributableBeforeAdjAmt
Distributable Before Ded$549,582DistributableBeforeDedAmt
Distributable As Adjusted$549,582DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$850,750ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$850,750QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$549,582DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12021PriorYear1Yr
Prior Year22020PriorYear2Yr
Prior Year32019PriorYear3Yr
Excess Distribution Cyov Yr2$0ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$313,136ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$313,136TotalExcessDistributionCyovAmt
Qualifying Distributions$850,750QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$549,582AppliedToCurrentYearAmt
Remaining Distri From Corpus$301,168RemainingDistriFromCorpusAmt
Total Corpus$614,304TotalCorpusAmt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$614,304ExcessDistriCyovToNextYrAmt
Excess From Year2$0ExcessFromYear2Amt
Excess From Year1$313,136ExcessFromYear1Amt
Excess From Current Year$301,168ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerJOHN KHOURYContributingManagerNm
Shareholder ManagerNONEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Ubuntu Pathways Inc
32 BROADWAYNew YorkNY100041609NONEPCGENERAL PURPOSE$10,000
East Harlem Tutorial Program
2035 Second AvenueNew YorkNY10029NonePCGENERAL PURPOSE$10,000
New York-Presbyterian Fund Inc
525 EAST 68TH STREET BOX 156New YorkNY100654870NonePCGENERAL PURPOSE$30,000
Hotchkiss School
11 INTERLAKEN RDLakevilleCT060392141NONEPCGENERAL PURPOSE$550,000
Robin Hood Foundation
826 Broadway 9th FloorNew YorkNY10003NONEPCGENERAL PURPOSE$250,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$850,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$29,835ExclusionAmt
FieldValueIRS element (for citing)
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Business901101BusinessCd
Unrelated Business Taxbl Incm$41,634UnrelatedBusinessTaxblIncmAmt
Exclusion18ExclusionCd
Exclusion$221,140ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp

FieldValueIRS element (for citing)
DescPARTNERSHIP INCOMEDesc
Business901101BusinessCd
Unrelated Business Taxbl Incm$9,614UnrelatedBusinessTaxblIncmAmt
Exclusion01ExclusionCd
Exclusion-$7,820ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$51,248UnrelatedBusinessTaxblIncmAmt
Exclusion$243,155ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$294,403TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

All Oth Prog Rltd Investments Sch AllOthProgRltdInvestmentsSch

All Other Program Related Invst AllOtherProgramRelatedInvstGrp

FieldValueIRS element (for citing)
DescNONEDesc

Depreciation Schedule DepreciationSchedule

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (3 entries)

Category Or ItemCategoryOrItemTxtBook ValueBookValueAmtEOYFMVEOYFMVAmt
SOLEL CAPITAL PARTNERS$2,000,000$2,894,460
CANDLESTICK CAYMAN FEEDER LTD$4,000,000$4,922,961
LONG POND OFFSHORE MASTER LP$3,255,019$3,156,298

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescNYS FILING FEESDesc
Revenue And Expenses Per Books$750RevenueAndExpensesPerBooksAmt
Disbursements Charitable Prps$750DisbursementsCharitablePrpsAmt

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
PARTNERSHIP INCOME - NON UBTI-$7,820-$7,820
PARTNERSHIP INCOME - UBTI$9,614

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryEXCISE TAXES PAIDCategoryTxt
Amt$60,000Amt

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