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THE KHOURY FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
THE KHOURY FOUNDATION (EIN 46-4261545)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-11-08
IRS object ID
202213129349100936
Schema version
2021v4.2
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)
Return2022-11-08T09:56:21-06:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1The Ayco Company LPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO Box 15201AddressLine1Txt
CityAlbanyCityNm
State AbbreviationNYStateAbbreviationCd
ZIP122125201ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

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
Signature2022-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstJohnPersonFirstNm
Person LastKhouryPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonChristine DiIonnaPreparerPersonNm
PTINP00999533PTIN
Phone5186405000PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$12,464,817FMVAssetsEOYAmt
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$218InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$218InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$72,457DividendsRevAndExpnssAmt
Dividends Net Invst Incm$50,625DividendsNetInvstIncmAmt
Other Income Rev And Expnss$1,585,078OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$456,255OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$1,657,753TotalRevAndExpnssAmt
Total Net Invst Incm$507,098TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Interest Rev And Expnss$66,242InterestRevAndExpnssAmt
Interest Net Invst Incm$66,242InterestNetInvstIncmAmt
Taxes Rev And Expnss$35TaxesRevAndExpnssAmt
Taxes Net Invst Incm$35TaxesNetInvstIncmAmt
Other Expenses Rev And Expnss$11,495OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$11,495OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$77,772TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$77,772TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$680,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$680,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$757,772TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$77,772TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$680,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$899,981ExcessRevenueOverExpensesAmt
Net Investment Income$429,326NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$766,023CashBOYAmt
Cash EOY$336,241CashEOYAmt
Cash EOYFMV$336,241CashEOYFMVAmt
Other Investments BOY$8,514,903OtherInvestmentsBOYAmt
Other Investments EOY$9,844,666OtherInvestmentsEOYAmt
Other Investments EOYFMV$12,128,576OtherInvestmentsEOYFMVAmt
Total Assets BOY$9,280,926TotalAssetsBOYAmt
Total Assets EOY$10,180,907TotalAssetsEOYAmt
Total Assets EOYFMV$12,464,817TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$9,280,926CapitalStockBOYAmt
Capital Stock EOY$10,180,907CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$9,280,926TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$10,180,907TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$9,280,926TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$10,180,907TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$9,280,926TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$899,981ExcessRevenueOverExpensesAmt
Subtotal$10,180,907SubtotalAmt
Tot Net Ast Or Fund Balances EOY$10,180,907TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$5,968InvestmentIncomeExciseTaxAmt
Subtotal$5,968SubtotalAmt
Tax Based On Investment Income$5,968TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$11,072EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$11,072TotalPaymentsAndCreditsAmt
Overpayment$5,104OverpaymentAmt
Applied To ES Tax$5,104AppliedToESTaxAmt

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 AddressN/AWebsiteAddressTxt

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 15201AlbanyNY122125201PRESIDENT1.0$0$0$0
BRENNA KHOURY
C/O The Ayco Company PO Box 15201AlbanyNY122125201VICE PRESIDENT1.0$0$0$0

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1THE FOUNDATION IS NOT DIRECTLY INVOLVED IN ANY CHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT, BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS EXEMPTDescription1Txt
Description2UNDER INTERNAL REVENUE CODE SECTION 501(C)(3).Description2Txt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$458,634AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$11,632,184FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$12,090,818TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$12,090,818AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$181,362CashDeemedCharitableAmt
Net Vl Noncharitable Assets$11,909,456NetVlNoncharitableAssetsAmt
Minimum Investment Return$595,473MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$595,473MinimumInvestmentReturnAmt
Tax Based On Investment Income$5,968TaxBasedOnInvestmentIncomeAmt
Total Tax$5,968TotalTaxAmt
Distributable Before Adj$589,505DistributableBeforeAdjAmt
Distributable Before Ded$589,505DistributableBeforeDedAmt
Distributable As Adjusted$589,505DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$680,000ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$680,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$589,505DistributableAsAdjustedAmt
Undistributed Income PY$230,236UndistributedIncomePYAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$680,000QualifyingDistributionsAmt
Applied To Year1$230,236AppliedToYear1Amt
Applied To Current Year$449,764AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Undistributed Income CY$139,741UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt
Excess From Current Year$0ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1SEE ATTACHED LISTBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 15201AddressLine1Txt
CityAlbanyCityNm
State AbbreviationNYStateAbbreviationCd
ZIP122125201ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNONE 501(C)(3)RecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeGENERAL CHARITABLE PURPOSESGrantOrContributionPurposeTxt
Amt$680,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$680,000TotalGrantOrContriPdDurYrAmt

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$218ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Business900099BusinessCd
Unrelated Business Taxbl Incm$21,832UnrelatedBusinessTaxblIncmAmt
Exclusion14ExclusionCd
Exclusion$50,625ExclusionAmt
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 InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Other Revenue Described OtherRevenueDescribedGrp (3 entries)

DescDescExclusionExclusionCdExclusionExclusionAmtBusinessBusinessCdUnrelated Business Taxbl IncmUnrelatedBusinessTaxblIncmAmt
OTHER INCOME (LOSS) FROM K-101$1,351
ST CAPITAL GAIN FROM K-118$63,125900099$780,062
LT CAPITAL GAIN FROM K-118$391,779900099$348,761

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$1,150,655UnrelatedBusinessTaxblIncmAmt
Exclusion$507,098ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,657,753TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Numbern/aLineNumberTxt
Relationship StatementNot ApplicableRelationshipStatementTxt

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)
DescN/ADesc

Depreciation Schedule DepreciationSchedule

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (3 entries)

Category Or ItemCategoryOrItemTxtBook ValueBookValueAmtEOYFMVEOYFMVAmt
SOLEL CAPITAL PARTNERS (OFFSHO$2,000,000$2,548,254
CANDLESTICK CAYMAN FEEDER LTD$4,000,000$5,390,797
LONG POND OFFSHORE MASTER LP$3,844,666$4,189,525

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescOTHER DEDUCTIONS FROM K-1Desc
Revenue And Expenses Per Books$11,495RevenueAndExpensesPerBooksAmt
Net Investment Income$11,495NetInvestmentIncomeAmt

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail (3 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
Other Income (Loss) from K-1$1,351$1,351
ST Capital Gain from K-1$843,187$63,125
LT Capital Gain from K-1$740,540$391,779

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFOREIGN TAXES PAIDCategoryTxt
Amt$35Amt
Net Investment Income$35NetInvestmentIncomeAmt

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