DISTRIBUTION OF ASSETS IN COMPLETE LIQUIDATION, TERMINATION AND DISSOLUTION THE O'GRADY FAMILY FOUNDATION EIN 23-7770587 WITH A TAX YEAR END OF DECEMBER 31ST. STATEMENT FOR FORM 990-PF, PART VI-A, LINE 5 DURING THE CURRENT YEAR THE FOUNDATION MADE THE DISTRIBUTIONS LISTED IN PART XV IN COMPLETE LIQUIDATION, TERMINATION AND DISSOLUTION. THESE DISTRIBUTIONS CONSTITUTE A FINAL DISTRIBUTION OF THE FOUNDATION'S ASSETS. THE FINAL DISTRIBUTION WAS MADE ON DECEMBER 24, 2021. THE AMOUNT OF THE FOUNDATION'S ASSETS HAS DECREASED OVER THE YEARS DUE TO IT MAKING CONTRIBUTIONS TO PUBLIC CHARITIES IN EXCESS OF ITS INCOME. AT THE END OF 2020 ITS REMAINING ASSETS CONSISTED OF $10,965 PLUS TWO SECURITIES WITH A COST BASIS OF $320. THE FOUNDATION MANAGER DETERMINED THAT IT WAS NOT FEASIBLE TO CONTINUE TO OPERATE THE FOUNDATION SINCE ITS REMAINING ASSETS WERE FEW AND THE ANNUAL COSTS OF KEEPING THE FOUNDATION IN OPERATION WERE LARGE RELATIVE TO THE AMOUNT OF ITS ASSETS. RATHER THAN SPEND THE REMAINING ASSETS ON TAX COMPLIANCE COSTS OVER THE NEXT PERIOD OF YEARS, A DECISON WAS MADE TO DISTRIBUTE ALL REMAINING ASSETS TO OPERATING PUBLIC CHARITIES DURING 2021. THIS WAS ACCOMPLISHED BY CONTRIBUTING $9,500 TO SIX PUBLIC CHARITIES DURING 2021. NO FORMAL WRITTEN PLAN OR RESOLUTION OF LIQUIDATION WAS PREPARED. NONE OF THE FINAL CONTRIBUTIONS WERE SUBJECT TO ANY RESTRICTIONS OR CONDITIONS ON THE TRANSFER. THE TWO REMAINING SECURITIES IN THE BROKER ACCOUNT WERE SOLD FOR CASH SO THAT THE ONLY REMAINING ASSET WAS CASH, AND ALL OF THIS CASH WAS CONTRIBUTED TO PUBLIC CHARITIES DURING 2021. THIS TERMINATION IS PURSUANT TO IRC SECTION 507(B)(1).
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