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JOSEPH & VICKY SAFRA FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
JOSEPH & VICKY SAFRA FOUNDATION INC (EIN 06-1640434)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-10-31
IRS object ID
202313049349101401
Schema version
2022v5.0
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)
Return2023-10-31T14:48:04-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN061640434EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1JOSEPH SAFRA FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% CARLOS BERTACOInCareOfNm
Business Name ControlJOSEBusinessNameControlTxt
Phone2127045596PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1546 5TH AVENUE 2ND FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10036ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCARLOS BERTACOPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone2127045596PhoneNum
Signature2023-10-31SignatureDt

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstCARLOSPersonFirstNm
Person LastBERTACOPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$23,031,620FMVAssetsEOYAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd

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$205,427InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$205,427InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$599,538DividendsRevAndExpnssAmt
Dividends Net Invst Incm$599,538DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$118,019NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$2,058,861GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$118,019CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$922,984TotalRevAndExpnssAmt
Total Net Invst Incm$922,984TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Other Expenses Rev And Expnss$24,026OtherExpensesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$24,026TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$7,167,988ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$7,167,988ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$7,192,014TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$7,167,988TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$6,269,030ExcessRevenueOverExpensesAmt
Net Investment Income$922,984NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$3,560,638CashBOYAmt
Cash EOY$349,362CashEOYAmt
Cash EOYFMV$349,362CashEOYFMVAmt
Sav And Temp Cash Invst BOY$17,324,298SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$16,100,745SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$16,100,745SavAndTempCashInvstEOYFMVAmt
Corporate Bonds BOY$9,060,361CorporateBondsBOYAmt
Corporate Bonds EOY$7,263,090CorporateBondsEOYAmt
Corporate Bonds EOYFMV$6,581,513CorporateBondsEOYFMVAmt
Other Assets BOY$154,408OtherAssetsBOYAmt
Total Assets BOY$30,099,705TotalAssetsBOYAmt
Total Assets EOY$23,713,197TotalAssetsEOYAmt
Total Assets EOYFMV$23,031,620TotalAssetsEOYFMVAmt
Other Liabilities BOY$17,210OtherLiabilitiesBOYAmt
Other Liabilities EOY$17,193OtherLiabilitiesEOYAmt
Total Liabilities BOY$17,210TotalLiabilitiesBOYAmt
Total Liabilities EOY$17,193TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$16,842,198CapitalStockBOYAmt
Capital Stock EOY$9,674,210CapitalStockEOYAmt
Retained Earning BOY$13,240,297RetainedEarningBOYAmt
Retained Earning EOY$14,021,794RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$30,082,495TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$23,696,004TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$30,099,705TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$23,713,197TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$30,082,495TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$6,269,030ExcessRevenueOverExpensesAmt
Other Increases$226,524OtherIncreasesAmt
Subtotal$24,039,989SubtotalAmt
Other Decreases$343,985OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$23,696,004TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyFX FORWARD CONTRACTPropertyDesc
Acquired2012-03-22AcquiredDt
Sold2022-03-21SoldDt
Gross Sales Price$2,058,861GrossSalesPriceAmt
Cost Or Other Basis$1,940,842CostOrOtherBasisAmt
Gain Or Loss$118,019GainOrLossAmt
Gains Minus Excess Or Losses$118,019GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$118,019CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$12,829InvestmentIncomeExciseTaxAmt
Subtotal$12,829SubtotalAmt
Tax Based On Investment Income$12,829TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$7,000EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$7,000TotalPaymentsAndCreditsAmt
Es Penalty$175EsPenaltyAmt
Tax Due$6,004TaxDueAmt

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 LimitfalseUnrelatedBusIncmOverLimitInd
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
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1CARLOS BERTACOBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127045596PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1546 5TH AVENUE 2ND FLOORAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10036ZIPCd
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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (5 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
JACOB SAFRA
546 5TH AVENUE 2ND FLOORNEW YORKNY10036DIRECTOR, PART TIME0$0$0$0
CARLOS BERTACO
546 5TH AVENUE 2ND FLOORNEW YORKNY10036DIRECTOR, PART TIME0$0$0$0
STEVEN MONTAGUE
546 5TH AVENUE 2ND FLOORNEW YORKNY10036DIRECTOR, PART TIME0$0$0$0
VICKY SAFRA
546 5TH AVENUE 2ND FLOORNEW YORKNY10036DIRECTOR, PART TIME0$0$0$0
DAVID SAFRA
546 5TH AVENUE 2ND FLOORNEW YORKNY10036DIRECTOR, PART TIME0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT ACTIVITIES, ITS PRIMARY PURPOSE IS THE SUPPORT BY CONTRIBUTION TO OTHER ORGANIZATIONS EXEMPT UNDERDescription1Txt
Description2INTERNAL REVENUE CODE SECTION 501(C)(3)Description2Txt
FieldValueIRS element (for citing)
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$23,906,594AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$2,183,566AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$26,090,160TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$26,090,160AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$391,352CashDeemedCharitableAmt
Net Vl Noncharitable Assets$25,698,808NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,284,940MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$1,284,940MinimumInvestmentReturnAmt
Tax Based On Investment Income$12,829TaxBasedOnInvestmentIncomeAmt
Total Tax$12,829TotalTaxAmt
Distributable Before Adj$1,272,111DistributableBeforeAdjAmt
Distributable Before Ded$1,272,111DistributableBeforeDedAmt
Distributable As Adjusted$1,272,111DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$7,167,988ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$7,167,988QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$1,272,111DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Prior Year12020PriorYear1Yr
Prior Year22019PriorYear2Yr
Prior Year32018PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr5$6,428,283ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$5,684,831ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$4,334,655ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$5,002,346ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$5,250,329ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$26,700,444TotalExcessDistributionCyovAmt
Qualifying Distributions$7,167,988QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Current Year$1,272,111AppliedToCurrentYearAmt
Remaining Distri From Corpus$5,895,877RemainingDistriFromCorpusAmt
Total Corpus$32,596,321TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$6,428,283ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$26,168,038ExcessDistriCyovToNextYrAmt
Excess From Year4$5,684,831ExcessFromYear4Amt
Excess From Year3$4,334,655ExcessFromYear3Amt
Excess From Year2$5,002,346ExcessFromYear2Amt
Excess From Year1$5,250,329ExcessFromYear1Amt
Excess From Current Year$5,895,877ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE STATEMENT ATTACHEDBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1VARIOUS RECIPIENTAddressLine1Txt
CityVARIOUUSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP000000000ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeCHARITABLE PURPOSES.GrantOrContributionPurposeTxt
Amt$7,167,988Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$7,167,988TotalGrantOrContriPdDurYrAmt

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$205,427ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$599,538ExclusionAmt
FieldValueIRS element (for citing)
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)
Exclusion18ExclusionCd
Exclusion$118,019ExclusionAmt
FieldValueIRS element (for citing)
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$922,984ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$922,984TotalIncomeProducingActyAmt

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

Depreciation Schedule DepreciationSchedule

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (6 entries)

BondBondNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
REPUBLIC OF ARGENTINA BOND$1,856,407$1,376,530
REPUBLIC OF ARGENTINA BOND$88,196$39,143
BANCO BRADESCO$0$0
ITAU UNIBANCO$2,007,621$1,965,221
BANCO DO BRASIL$2,808,624$2,818,477
GOLDMAN SACHS CAPITAL II$502,242$382,142

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescREVALUED FORWARD HEDGEDesc
BOY Book Value$154,408BOYBookValueAmt

Other Decreases Schedule OtherDecreasesSchedule

Other Decreases Detail OtherDecreasesDetail

FieldValueIRS element (for citing)
DescNET UNREALIZED LOSS ON INVESTMENTSDesc
Amt$343,985Amt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt
BANK CHARGES$14,370
FEDERAL TAX$7,751
LEGAL FEES$1,905

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescNET UNREALZIED GAIN ON FORWARD HEDGESDesc
Amt$226,524Amt

Other Liabilities Schedule OtherLiabilitiesSchedule

Other Liabilities Detail OtherLiabilitiesDetail

FieldValueIRS element (for citing)
DescTAX PAYABLE/CHECKS PAYABLEDesc
BOY Book Value$17,210BOYBookValueAmt
EOY Book Value$17,193EOYBookValueAmt

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