2024-05-14T11:03:53-05:00 2023-12-31 Foundation Source 3333 New Hyde Park Rd Ste 406 New Hyde Park NY 11042 990PF 2023-01-01 831658063 The Karuna Charitable Fund % Foundation Source KARU 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 VISHAL SALUJA PRESIDENT 8008391754 2024-05-08 true VISHAL SALUJA 999009999 true Jeffrey D Haskell P01345770 8008391754 2023 2023-04-26 12:10:37Z X 664751 X 310166 680 680 17571 17571 38227 456670 275289 366644 293540 0 300 300 572 51 3618 3618 9654 4 9650 14144 55 13568 180526 180526 194670 55 194094 171974 293485 58836 239123 239123 379552 361239 415632 10000 9996 438388 610362 664751 0 0 X 438388 610362 438388 610362 438388 610362 438388 171974 610362 610362 Publicly-traded Securities 456670 181381 275289 275289 275289 4079 4079 4079 300 0 300 X 0 3779 false false false false false false true true true DE true false false false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false true false true false false false false false false false false false false false false false false false false false Vishal Saluja Foundation Source 501 Silverside Rd Wilmington DE 198091377 Dir, Pres, Sec, Treas 1.0 0 0 0 455281 73457 0 528738 0 528738 7931 520807 26040 26040 4079 4079 21961 21961 21961 194094 0 0 0 0 194094 21961 2021 2020 2019 12724 11083 12783 36590 194094 21961 172133 208723 0 208723 12724 11083 12783 172133 Vishal Saluja X AGA KHAN FOUNDATION USA 1825 K ST NW SUITE 901 WASHINGTON DC 20006 N/A PC Humayun Tomb Site Museum - New Delhi 175000 TOGETHERSF 2505 MARIPOSA ST SAN FRANCISCO CA 94110 N/A PC General & Unrestricted 5526 180526 14 680 14 17571 18 38227 56478 56478 false false false false false false false false false false X X 1 Saluja Vishal 2655 Broadway Street San Francisco CA 94115 310166 X X 1 META PLATFORMS INC META, 40 sh. 10903 2023-06-05 1 MCKESSON CORP MCK, 40 sh. 16678 2023-06-23 1 CENCORA INC COR, 50 sh. 9390 2023-06-23 1 LAM RESEARCH CORP LRCX, 20 sh. 13097 2023-07-18 1 JP MORGAN CHASE JPM, 100 sh. 15361 2023-07-18 1 LAM RESEARCH CORP LRCX, 20 sh. 13893 2023-07-27 1 BLACKSTONE SEC LENDING BXSL, 1000 sh. 28765 2023-08-09 1 APOLLO GLOBAL MANAGEMENT, INC APO, 200 sh. 18320 2023-09-18 1 LAM RESEARCH CORP LRCX, 25 sh. 15829 2023-11-03 1 JP MORGAN CHASE JPM, 1000 sh. 167930 2023-12-20 MOTOR NEURON DISEASE ASSOC (S ESSEX BR) 17 GOLDSWORTHY DRIVE GREAT WAKERING UK SS3 0AU 2021-06-09 25000 SUPPORTING THE NEEDS FOR PEOPLE LIVING WITH MND (ALS) IN THE SOUTH ESSEX AREA 700 NO 06/09/2022 THE FOUNDATION HAS NOT RECEIVED A FULL AND COMPLETE FINAL REPORT FROM THE GRANTEE; THEREFORE, THE FOUNDATION HAS BEEN UNABLE TO VERIFY A REPORT. FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT CONT. FORM 990-PF, PART VI-B, LINE 5D - EXPENDITURE RESPONSIBILITY GRANTEE: MOTOR NEURON DISEASE ASSOC (S ESSEX BR) DATE OF GRANT: 06/09/2021 REPORTS OF AMOUNTS EXPENDED AND DIVERSIONS: THE GRANTEE HAS SUBMITTED A REPORT DATED 06/09/2022. PER THE JUNE 2022 REPORT, THE GRANTEE SPENT $700. THE FOUNDATION HAS MADE NUMEROUS GOOD FAITH ATTEMPTS ON MULTIPLE DATES TO CONTACT THE GRANTEE AND REQUEST THE ANNUAL REPORT WITH RESPECT TO THE GRANT FUNDS, WHICH ATTEMPTS HAVE BEEN DOCUMENTED BY THE FOUNDATION, BUT HAS NOT BEEN ABLE TO OBTAIN SUCH REPORT. PER SECTION 53.4945-5(E)(2) OF THE TREASURY REGULATIONS, THE FAILURE OF GRANTEE TO SUBMIT THE ANNUAL REPORT WILL NOT RESULT IN A TAXABLE EXPENDITURE FOR THE FOUNDATION BECAUSE THE FOUNDATION (I) MADE THE GRANT IN ACCORDANCE WITH PARAGRAPH (B) OF SAID SECTION OF THE REGULATIONS, (II) HAS COMPLIED WITH THE REPORTING REQUIREMENTS CONTAINED IN PARAGRAPH (D) OF SAID SECTION OF THE REGULATIONS, (III) MADE A REASONABLE EFFORT TO OBTAIN THE REQUIRED REPORT, AND (IV) WILL WITHHOLD ALL FUTURE PAYMENTS ON ANY GRANT TO THIS GRANTEE UNTIL SUCH REPORT IS FURNISHED. TO THE KNOWLEDGE OF THE FOUNDATION, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE GRANT WAS ORIGINALLY MADE. FLUSHING BK NY - 5.300% - 04/0 10000 9996 ABBVIE INC 3621 6664 ANNALY CAPITAL MANAGEMENT INC 6420 7542 ARES COMMERCIAL REAL ESTATE CO 21538 15540 ARES DYNAMIC CR ALLOCATION FD 16692 17875 BAC CAPITAL TR X - 6.250% - 03 12459 12410 BANK OF AMERICA CORP - 7.250% 21631 18079 BLACKSTONE SEC LENDING 19202 19348 CVS CAREMARK CORP 6552 7896 FIFTH THIRD BANCORP 2781 3449 FINANCIAL SELECT SECTOR SPDR F 4829 6768 HOLOGIC, INC 6855 7145 HSBC HOLDINGS PLC 8352 8108 JOHNSON & JOHNSON 19226 21944 JP MORGAN CHASE 31501 34020 META PLATFORMS INC 5451 7079 MORGAN STANLEY 4389 9325 SPDR S&P 500 ETF TRUST 146766 180618 TCG BDC INC 9130 14960 THE BLACKSTONE GROUP INC CL A 8101 13092 VERIZON COMMUNICATIONS 5743 3770 As explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2023, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $180,526. This amount represents 25% or more of the Foundation's net assets of $461,293 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2023. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein. Administrative Fees 9625 9625 Bank Charges 4 4 State or Local Filing Fees 25 25 EDITING SERVICES 300 300 990-PF Estimated Tax for 2023 300 990-PF Excise Tax for 2022 221 Foreign Tax Paid 51 51