2012 990

0.64 MB·English

See a Social Security Number? Say Something!
Report Privacy Problems to https://public.resource.org/privacy
Or call the IRS Identity Theft Hotline at 1-800-908-4490
efile GRAPHIC rint - DO NOT PROCESS As Filed Data - DLN:93491133024894
Form990-PF Return of Private Foundation OMB No 1545-0052
or Section 4947(a)(1) Nonexempt Charitable Trust 2012
~ Treated as a Private Foundation
Note. The foundation may be able to use a copy of th1s return to sat1sfy state report1ng requirements
Department of the Treasury Open to Public
Internal Revenue Serv1ce Inspection
For calendar year 2012, or tax year beginning 07-01-2012 , and ending 06-30-2013
Name of foundation A Employer identification number
MUSK FOUNDATION
77-0587507
Number and street (or P 0 box number 1f ma1l1s not delivered to street address) Room/suite B Telephone number (see 1nstnuct1ons)
11075 SANTA MONICA BLVD NO 150
[phone]
City or town, state, and ZIP code C If exemption application 1s pend1ng, check here ~ I
LOS ANGELES, CA 90025
r r
G Check a II that apply r In1t1al return r In1t1al return of a former public chanty D 1. Fore1gn orgamzat1ons, check here ~ I
r F1nal return r A mended return 2. Fore1gn orgamzat1ons meet1ng the 85% test, I
Address change Name change check here and attach computation ~
P
H Check type of organ1zat1on Sect1on 501(c)(3) exempt pnvate foundation
r r
Sect1on 494 7(a)(1) nonexempt chantable trust Other taxable pnvate foundation
r
P E If pnvate foundation status was terminated
I Fa1r market value of all assets at end J Arc counting method Cash Accrual under sect1on 507( b)( 1)(A), check here ~ I
of year (from Part II, col. (c), Other (spec1fy) -
!me 16),..$ 50,317 (Part I, column (d) must be on cash bas1s.) F Iufn tdheer fsoeucnt1doant io50n7 1(s b 1)n( 1a )(6 B0)-,m cohnetchk tehmerne1 nat1on ~ I
l:aiill
Analysis of Revenue and Expenses (The (a) Revenue and (d) Disbursements
total of amounts m columns (b), (c), and (d) may not expenses per (b) Net Investment (c) Adjusted net for chantable
necessanly equal the amounts m column (a) (see books 1ncome 1ncome purposes
mstmctwns) ) (cash bas1s only)
1 Contnbut1ons, g1fts, grants, etc, rece1ved (attach schedule) 650,000
2 Check ... I If the foundation 1s not requ1red to attach Sch B
3 Interest on sav1ngs and temporary cash Investments 200 200
4 D1v1dends and Interest from secunt1es. 44 44
Sa Gross rents
b Net rental 1ncome or (loss)
6a Net ga1n or (loss) from sale of assets not on l1ne 10
;~
:r; b Gross sales pnce for all assets on line 6a
~ 7 Capital ga1n net 1ncome (from Part IV, l1ne 2) 0
0:: 8 Net short-term cap1tal ga1n
9 I nco me mod1f1cat1ons
I
lOa Gross sales less returns and allowances
b Less Cost of goods sold ·I
c Gross profit or (loss) (attach schedule)
11 Other 1ncome (attach schedule)
12 Total. Add l1nes 1 through 11 650,244 244
13 Compensation of officers, directors, trustees, etc 0 0 0
14 0 ther employee sa lanes and wages
ofl
~ 15 Pens1on plans, employee benef1ts
ofl
!::
16a Legal fees (attach schedule). ~ 967 0 967
~
)( b Accounting fees (attach schedule). ~ 19,195 9,597 9,598
LiJ
~ c 0 ther professional fees (attach schedule)
>
p.:: :; 17 Interest
'-
t;': 18 Taxes (attach schedule) (see 1nstnuct1ons) ~ 8 8 0
!::
19 Deprec1at1on (attach schedule) and depletion
E
-:::::: 20 0 ccupancy
..:r
-:::::: 21 Travel, conferences, and meet1ngs.
!::
.:::; 22 Pnnt1ng and publ1cat1ons
;::·
23 0 ther expenses (attach schedule) • ~ 282 0 282
.-....
.:::; 24 Total operating and administrative expenses.
'-
~ Add l1nes 13 through 23 20,452 9,605 10,847
0
25 Contnbut1ons, g1fts, grants pa1d. 783,700 783,700
26 Total expenses and disbursements. Add lines 24 and 25 804,152 9,605 794,547
27 Subtract l1ne 26 from l1ne 12
a Excess of revenue over expenses and disbursements -153,908
b Net investment income (1f negat1ve, enter -0-) 0
c Adjusted net income (1f negat1ve, enter -0-)
For Paperwork Reduct1on Act Not1ce, see mstruct1ons. Cat No 11289X Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) Page 2
I:F.TiliU Attached schedules and amounts 1n the descnpt1on column Beg1nmng of year End of year
Balance Sheets should be for end-of-year amounts only (See 1nstruct1ons ) (a) Book Value (b) Book Value (c) Fa1r Market Value
1 Cash-non-1nterest-beanng.
2 Sav1ngs and temporary cash Investments 204,225 50,317 50,317
3 Accounts receivable,..
Less allowance for doubtful accounts,..
4 Pledges receivable,..
Less allowance for doubtful accounts,..
5 Grants receivable
6 Receivables due from off1cers, directors, trustees, and other
d1squal1f1ed persons (attach schedule) (see page 15 of the
1nstruct1ons).
7 Other notes and loans receivable (attach schedule),..
.... Less allowance for doubtful accounts,..
m
.... 8 Inventones for sale or use
....
9 Prepaid expenses and deferred charges
~
lOa Investments-U 5 and state government obl1gat1ons (attach schedule)
b Investments-corporate stock (attach schedule).
c Investments-corporate bonds (attach schedule).
11 Investments-land, bu1ld1ngs, and equipment baSIS ....
Less accumulated deprec1at1on (attach schedule),..
12 Investments-mortgage loans
13 Investments-other (attach schedule)
14 Land, bu1ld1ngs, and equipment baSIS ....
Less accumulated deprec1at1on (attach schedule),..
15 Other assets (descnbe,.. )
16 Total assets (to be completed by all f1lers-see the
1nstruct1ons A I so, see page 1, 1tem I) 204,225 50,317 50,317
17 Accounts payable and accrued expenses
18 Grants payable
of! 19 Deferred revenue
4.>
e
- 20 Loans from off1cers, directors, trustees, and other d1squal1f1ed persons
.3
.:::; 21 Mortgages and other notes payable (attach schedule)
.::i
22 Other liabilities (descnbe,.. )
23 Total liabilities (add l1nes 17 through 22) 0 0
Foundations that follow SFAS 117, check here ,.. I
and complete lines 24 through 26 and lines 30 and 31.
of!
4.> 24 U nrestncted •
u
.~:::; 25 Temporanly restncted
-
.:::; 26 Permanently restncted
CQ
;:: Foundations that do not follow SFAS 117, check here .... p-
::::! and complete lines 27 through 31.
u..
:..... 27 Capital stock, trust pnnc1pal, or current funds 0 0
0
of! 28 Pa1d-1n or cap1tal surplus, or land, bldg, and equipment fund 0 0
4)
of! 29 Reta1ned earn1ngs, accumulated 1ncome, endowment, or other funds 204,225 50,317
of!
~ 30 Total net assets or fund balances (see page 17 of the
4)
z 1nstruct1ons). 204,225 50,317
31 Total liabilities and net assets/fund balances (see page 17 of
the 1nstruct1ons) 204,225 50,317
1@101 Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beg1nn1ng of year-Part II, column (a), l1ne 30 (must agree
w1th end-of-year f1gure reported on pnor year's return) 1 204,225
2 Enter amount from Part I, l1ne 27a 2 -153,908
3 Other Increases not Included 1n l1ne 2 (1tem1ze),.. 3 0
4 Add l1nes 1, 2, and 3 4 50,317
5 Decreases not Included 1n l1ne 2 (1tem1ze),.. 5 0
6 Total net assets or fund balances at end of year (l1ne 4 m1nus l1ne 5)-Part II, column (b), l1ne 30 6 50,317
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) Page 3
I:F.Til•l,.t Cap1ta Gams an d Losses f or Tax on Investment Income
(b) How acqu1red
(a) L1st and descnbe the k1nd(s) of property sold (e g, real estate, (c) Date acqu1red (d) Date sold
P-Purchase
2-story bnck warehouse, or common stock, 200 shs MLC Co) (mo, day, yr) (mo, day, yr)
D-Donat1on
la
(f) Deprec1at1on allowed (g) Cost or other bas1s (h) Ga1n or (loss)
(e) Gross sales pnce
(or allowable) plus expense of sale (e) plus (f) m1nus (g)
a
b
c
d
e
Complete only for assets show1ng ga1n 1n column (h) and owned by the foundation on 12/31/69 (I) Ga1ns (Col (h) ga1n m1nus
(j) Adjusted bas1s (k) Excess of col (1) col (k), but not less than -0-) or
(i) F M V asof12/31/69
asof12/31/69 over col (j), 1f any Losses (from col (h))
a
b
c
d
e
{ If ga1n, also enter 1n Part I, l1ne 7 }
2 Cap1tal ga1n net 1ncome or (net cap1tal loss) If (loss), enter -0- 1n Part I, l1ne 7
2
3 Net short-term cap1tal ga1n or (loss) as def1ned 1n sect1ons 1222(5) and (6)
If ga1n, also enter 1n Part I, l1ne 8, column (c) (see 1nstruct1ons) If (loss), enter -0- }
1n Part I, l1ne 8
3
..
•iBiW4 Quahf1cat1on Under Sect1on 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic pnvate foundations subject to the sect1on 4940(a) tax on net Investment 1ncome)
Ifsect1on 4940(d)(2) applies, leave th1s part blank
Was the foundation liable for the sect1on 4942 tax on the d1stnbutable amount of any year 1n the base penod7 I Yes F No
If"Yes," the foundation does not qual1fy under sect1on 4940(e) Do not complete th1s part
1 Enter the appropnate amount 1n each column for each year, see page 18 of the 1nstruct1ons before mak1ng any entnes
(a) (d)
(b) (c)
Base penod years Calendar D1stnbut1on rat1o
Adjusted qualifying d1stnbut1ons Net value of nonchantable-use assets
year (or tax year beg1nmng 1n) (col (b) d1v1ded by col (c))
2011 835,189 215,491 3 875749
2010 860,254 824,704 1 043106
2009 368,326 1,304,473 0 282356
2008 405,292 1,540,635 0 263068
2007 604,259 2,542,359 0 237677
2 Total of l1ne 1, column (d). 2 5 701956
3 Average d1stnbut1on rat1o for the 5-year base penod-d1v1de the total on l1ne 2 by 5, or by
the number of years the foundation has been 1n ex1stence 1f less than 5 years 3 1140391
4 Enter the net value ofnonchantable-use assets for 2012 from Part X, l1ne 5. 4 150,717
5 Multiply l1ne 4 by l1ne 3.
5 171,876
6 Enter 1% of net Investment 1ncome (1% of Part I, l1ne 27b). 6 0
7 Add l1nes 5 and 6. 7 171,876
8 Enter qual1fy1ng d1stnbut1ons from Part XII, l1ne 4. 8 794,54 7
If l1ne 8 1s equal to or greater than l1ne 7, check the box 1n Part VI, l1ne 1 b, and complete that part us1ng a 1% tax rate See
the Part VI 1nstruct1ons
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) page 4
lfJ.fiifJI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 see page 18 of the instructions)
I
1a Exempt operat1ng foundations descnbed 1n sect1on 4940(d)(2), check here ,... and enter "N/A" on line 1
Date of rul1ng or determ1nat1on letter (attach copy of letter if necessary-see
instructions)
b Domestic foundations that meet the sect1on 4940 (e) requirements 1n Part V, check 1 0
here,... p-and enter 1% of Part I, l1ne 27b
c All other domestic foundations enter 2% of line 27b Exempt fore1gn orgamzat1ons enter 4% of Part I, line 12, col (b)
2 Tax under sect1on 511 (domestic sect1on 4947(a)(1) trusts and taxable foundations only Others enter -0-) 2 0
3 Add l1nes 1 and 2. 3 0
4 Subtitle A (1ncome) tax (domestic sect1on 4947(a)(1) trusts and taxable foundations only Others enter -0-) 4 0
5 Tax based on investment income. Subtract l1ne 4 from l1ne 3 If zero or less, enter -0-. 5 0
6 Credits/Payments
a 2012 estimated tax payments and 2011 overpayment cred1ted to 2012 6a 3,100
b Exempt fore1gn organ1zat1ons-tax Withheld at source 6b
c Tax pa1d w1th appl1cat1on for extension oft1me to f1le (Form 8868) 6c
d Backup w1thhold1ng erroneously Withheld. 6d
7 Total cred1ts and payments Add l1nes 6a through 6d. 7 3,100
8 Enter any penalty for underpayment of estimated tax Check here jlf Form 2220 1s attached 8
9 Tax due. Ifthe total ofl1nes 5 and 8 1s more than l1ne 7, enter amount owed. 9
10 Overpayment. If l1ne 7 1s more than the total of l1nes 5 and 8, enter the amount overpaid. ,... 10 3,100
I
11 Enter the amount of line 10 to be Credited to 2013 estimated tax,... 3,100 Refunded,... 11 0
Part VII-A Statements Regardmg Activities
1a Dunng the tax year, d1d the foundation attempt to Influence any nat1onal, state, or local leg1slat1on or d1d Yes No
1t part1c1pate or Intervene 1n any pol1t1cal campaign? 1a No
b D1d 1t spend more than $100 dunng the year (e1ther directly or 1nd1rectly) for pol1t1cal purposes (see page 19 of
the 1nstruct1ons for def1n1t1on)7 1b No
If the answer 1s "Yes" to 1a or 1b, attach a detailed descnpt1on of the actJvJtJes and cop1es of any matenals
published or dJstnbuted by the foundation 1n connection w1th the actJvJtJes.
c D 1d the foundation f1le Form 1120-POL for th1s yea r7. 1c No
d Enter the amount (1fany) oftax on pol1t1cal expenditures (sect1on 4955) Imposed dunng the year
(1) 0 n the foundation ,... $ 0 (2) 0 n foundation managers ,... $ 0
e Enter the reimbursement (1f any) pa1d by the foundation dunng the year for pol1t1cal expenditure tax Imposed
on foundation managers ,... $ ________ _::_0
2 Has the foundation engaged 1n any act1v1t1es that have not previously been reported to the IRS7 2 No
If "Yes," attach a detailed descnpt1on of the actJvJtJes.
3 Has the foundation made any changes, not previously reported to the IRS, 1n 1ts governing Instrument, art1cles
of 1ncorporat1on, or bylaws, or other s1m1lar Instruments? If "Yes," attach a conformed copy of the changes 3 No
4a D1d the foundation have unrelated bus1ness gross 1ncome of$1,000 or more dunng the year7. 4a No
b If "Yes," has 1t f1led a tax return on Form 990-T for th1s yea r7. 4b
5 Was there a 11qu1dat1on, term1nat1on, d1ssolut1on, or substantial contraction dunng the year7 5 No
If "Yes," attach the statement requ1red by General Instruction T.
6 Are the requirements ofsect1on 508(e) (relating to sect1ons 4941 through 4945) sat1sf1ed e1ther
• By language 1n the governing Instrument, or
• By state leg1slat1on that effectively amends the governing Instrument so that no mandatory d1rect1ons
that conflict w1th the state law rema1n 1n the governing Instrument? 6 Yes
7 D1d the foundation have at least $5,000 1n assets at any t1me dunng the year7 If "Yes," complete Part II, col (c), and Part XV 7 Yes
Sa Enter the states to wh1ch the foundation reports orw1th wh1ch 1t 1s registered (see 1nstruct1ons)
,...CA
b If the answer 1s "Yes" to l1ne 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as requ1red by General Instruction G7 If "No," attach explanation. Sb Yes
9 Is the foundation cla1m1ng status as a pnvate operating foundation w1th1n the mean1ng ofsect1on 4942(J)(3)
or 4 9 4 2 (J)(5) for calendar year 2 0 12 or the taxable year beg1nn1 ng 1n 2 012 (see 1n struct1ons for Part XIV )7
If "Yes," complete Part XIV 9 No
10 D1d any persons become substantial contnbutors dunng the tax year7 If "Yes," attach a schedule !Jstmg their names and addresses~ 10 Yes
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) Page 5
I :F.Till'd
&~I Statements Regarding Activities (continued)
11 At any t1me dunng the year, d1d the foundation, directly or 1nd1rectly, own a controlled ent1ty w1th1n the
mean1ng ofsect1on 512(b)(13)7 If"Yes," attach schedule (see 1nstruct1ons). 11 No
12 D1d the foundation make a d1stnbut1on to a donor adv1sed fund over wh1ch the foundation or a d1squal1f1ed person had
adv1sory pnvlleges7 If"Yes," attach statement (see 1nstruct1ons) 12 Yes
13 D1d the foundation comply w1th the public 1nspect1on requirements for 1ts annual returns and exemption appl1cat1on7 13 Yes
.-.www
Webs1te address M U SKFO UN DATION 0 RG
14 The books are 1n care of.,."'E""'L...;;.O....;.N.;......;..M.;..U;;....;;..S"'"'K_ _____________________ Telephone no .,_(310)473-7575
Located at ... 11075 SANTA MONICA BLVD SUITE 150 LOS ANGELES CA ZIP +4 ... .::.9..::0..:0:...:2::..:5:::....._ ________
15 Sect1on 494 7(a)(1) nonexempt chantable trusts f1l1ng Form 990-PF 1n l1eu of Form 1041-Check here.
and enter the amount of tax-exempt Interest rece1ved or accrued dunng the year. • .,_ 15
16 At any t1me dunng calendar year 2012, d1d the foundation have an Interest 1n or a s1gnature or other authonty over
a bank, secunt1es, or other f1nanc1al account 1n a fore1gn country?. 16 No
See 1nstruct1ons for exceptions and f1l1ng requirements for Form TD F 90-22 1 If "Yes", enter the name of the fore1gn
country .,_
--------------------------------------------------------------------------------------------
Part VII-B Statements Regarding Activities for Which Form 4720 May Be Requ1red
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No
1a Dunng the year d1d the foundation (either directly or 1nd1rectly)
(1) Engage 1n the sale or exchange, or leas1ng of property w1th a d1squal1f1ed person? I Yes p- No
(2) Borrow money from, lend money to, or otherw1se extend cred1t to (or accept 1t from)
I p-
a d1squal1f1ed person?. Yes No
(3) Furn1sh goods, serv1ces, or fac1l1t1es to (or accept them from) a d1squal1f1ed person? F Yes I No
I p-
(4) Pay compensation to, or pay or reimburse the expenses of, a d1squal1f1ed person? Yes No
(5) Transfer any 1ncome or assets to a d1squal1f1ed person (or make any of e1ther available
I F
for the benefit or use of a d1squal1f1ed person)?. Yes No
(6) Agree to pay money or property to a government off1c1al7 (Exception. Check "No"
1f the foundation agreed to make a grant to or to employ the off1c1al for a penod
I F
after term1nat1on of government serv1ce, 1f term1nat1ng w1th1n 90 days ). Yes No
b If any answer 1s "Yes" to 1a(1 )-(6 ), d1d any of the acts fall to qualify under the exceptions descnbed 1n Regulations
sect1on 53 4941(d)-3 or 1n a current not1ce regarding disaster assistance (see page 20 of the 1nstruct1ons)?. 1b No
0 rgan1zat1ons rely1ng on a current not1ce regarding disaster assistance check here.
c D1d the foundation engage 1n a pnor year 1n any of the acts descnbed 1n 1 a, other than excepted acts,
that were not corrected before the f1rst day of the tax year beg1nn1ng 1n 20127. 1c No
2 Taxes on failure to d1stnbute 1ncome (sect1on 4942) (does not apply for years the foundation was a pnvate
operating foundation def1ned 1n sect1on 4942(J)(3) or4942(J)(5))
a At the end of tax year 2012, d1d the foundation have any und1stnbuted 1ncome (l1nes 6d
I F
and 6e, Part XII I) for tax year(s) beg1nn1ng before 2 012 7. Yes No
If"Yes," l1st the years.,_ 20 __ , 20 __ , 20 __ , 20 __
b Are there any years l1sted 1n 2a forwh1ch the foundation 1s not applying the prov1s1ons ofsect1on 4942(a)(2)
(relating to Incorrect valuation of assets) to the year's und1stnbuted Income? (If applying sect1on 4942(a)(2)
to all years l1sted, answer "No" and attach statement-see 1nstruct1ons). 2b
c If the prov1s1ons ofsect1on 4942(a)(2) are be1ng applied to any of the years l1sted 1n 2a, l1st the years here
... 20 20 __ , 20 __ , 20 __
3a D1d the foundation hold more than a 2% d1rect or 1nd1rect Interest 1n any bus1ness enterpnse at
I F
any t1me dunng the year7. Yes No
b If"Yes," d1d 1t have excess business holdings 1n 2012 as a result of (1) any purchase by the foundation
or d1squal1f1ed persons after May 26, 1969, (2) the lapse of the 5-year penod (or longer penod approved
by the Comm1ss1oner under sect1on 4943(c)(7 )) to dispose of holdings acqu1red by g1ft or bequest, or (3)
the Ia pse of the 10-, 15-, or 2 0 -year f1 rst phase hold1 ng penod7 (Use Schedule C, Form 4720, to determme
If the foundation had excess bus mess holdmgs m 2012.). 3b
4a D1d the foundation 1nvest dunng the year any amount 1n a manner that would Jeopardize 1ts chantable purposes? 4a No
b D1d the foundation make any Investment 1n a pnor year (but after December 31, 1969) that could Jeopardize 1ts
chantable purpose that had not been removed from Jeopardy before the f1rst day of the tax year beg1nn1ng 1n 20127 4b No
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) Page 6
I:F.Till'd!l!l:l
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
Sa Dunng the year d1d the foundation pay or 1ncur any amount to
(1) Carry on propaganda, or otherw1se attempt to Influence leg1slat1on (sect1on 4945(e))7 I Yes F No
(2) Influence the outcome of any spec1f1c public elect1on (see sect1on 4955), or to carry
on, directly or 1nd1rectly, any voter reg1strat1on dnve7. I Yes F No
(3) Prov1de a grant to an 1nd1v1dual for travel, study, or other s1m1lar purposes? I Yes F No
(4) Prov1de a grant to an organ1zat1on other than a chantable, etc, organ1zat1on descnbed
1n sect1on 509(a)(1 ), (2), or (3), or sect1on 4940(d)(2)7 (see 1nstruct1ons). I Yes F No
(5) Prov1de for any purpose other than rel1g1ous, chantable, sc1ent1f1c, literary, or
educational purposes, or for the prevention of cruelty to children or anlmals7. .1 Yes F No
b If any answer 1s "Yes" to 5a(1 )-(5 ), d1d any of the transactions fall to qual1fy under the exceptions descnbed 1n
Regulations sect1on 53 4945 or 1n a current not1ce regarding disaster assistance (see 1nstruct1ons)7. Sb
_,. I
0 rgan1zat1ons rely1ng on a current not1ce regarding disaster assistance check here.
c If the answer 1s "Yes" to quest1on 5a(4 ), does the foundation cia 1m exemption from the
tax because 1t ma1nta1ned expenditure respons1b1l1ty for the grant?. I Yes I No
If "Yes," attach the statement requ1red by Regulations sect1on 53.4945-5(d).
6a D1d the foundation, dunng the year, rece1ve any funds, directly or 1nd1rectly, to pay prem1ums on
a personal benefit contract?. I Yes F No
b D1d the foundation, dunng the year, pay prem1ums, directly or 1nd1rectly, on a personal benefit contract?. 6b No
If "Yes" to 6b, file Form 8870.
7a At any t1me dunng the tax year, was the foundation a party to a proh1b1ted tax shelter transaction? I Yes F No
b If yes, d1d the foundation rece1ve any proceeds or have any net 1ncome attnbutable to the transaction?. 7b
Information About Off1cers, Directors, Trustees, Foundation Managers, H1ghly Pa1d Employees,
l@lfdil and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(b) Title, and average (c) Compensation (d) Contnbut1ons to
(e) Expense account,
(a) Name and address hours per week (If not paid, enter employee benefit plans
other allowances
devoted to pos1t1on -0-) and deferred compensation
ELON MUSK PRESIDENT & 0 0 0
11075 SANTA MONICA BLVD STE DIRECTOR
150 1 00
LOS ANGELES,CA 90025
KIMBAL MUSK SECRETARY, 0 0 0
11075 SANTA MONICA BLVD STE TREASURER & DIR
150 1 00
LOS ANGELES,CA 90025
2 Compensation of five highest-paid employees (other than those included on line 1-see instructions). If none, enter "NONE."
(d) Contnbut1ons to
(b) Title, and average
(a) Name and address of each employee employee benefit (e) Expense account,
hours per week (c) Compensation
pa1d more than $50,000 plans and deferred other allowances
devoted to pos1t1on
compensation
NONE
,.
Total number of other employees pa1d over $50,000. 0
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) page 7
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
1iBi•,.,n•
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person pa1d more than $50,000 (b) Type of serv1ce (c) Compensation
NONE
...
Total number of others rece1v1ng over $50,000 for professional serv1ces. 0
l@lf!«.;l Summary of Direct Charitable Activities
List the foundation's four largest d1rect chantable act1v1t1es dunng the tax year Include relevant stat1st1cal 1nformat1on such as the number of
Expenses
orgamzat1ons and other benef1c1anes served, conferences convened, research papers produced, etc
1
2
3
4
Summary of Program-Related Investments (see mstruct1ons)
•:r.n••~a:11
Descnbe the two largest program-related Investments made by the foundation dunng the tax year on lines 1 and 2 A mount
1
2
All other program-related Investments See page 24 ofthe 1nstruct1ons
3
...
I
Total. Add l1nes 1 throuqh 3. 0
Form 990-PF (2012)
Form 9 9 0-P F ( 2 0 1 2 ) page 8
1@1!1 Minimum Investment Return (All domestiC foundations must complete th1s part. Fore1gn foundations,
see mstruct1ons.)
1 Fa1r market value of assets not used (or held for use) directly 1n carry1ng out chantable, etc,
purposes
a Average monthly fa1r market value of secunt1es. 1a 0
b Average of monthly cash balances. 1b 15 3,012
c Fa1r market value of all other assets (see 1nstruct1ons). 1c 0
d Total (add l1nes 1a, b, and c). 1d 15 3,012
e Reduction cla1med for blockage or other factors reported on l1nes 1 a and
I I
1c (attach detailed explanation). 1e 0
2 Acqu1s1t1on Indebtedness applicable to l1ne 1 assets. 2 0
3 Subtract l1ne 2 from l1ne 1d. 3 15 3,012
4 Cash deemed held for chantable act1v1t1es Enter 1 1/2% of l1ne 3 (for greater amount, see
1n s truct1o ns ). 4 2,295
5 Net value of noncharitable-use assets. Subtract l1ne 4 from l1ne 3 Enter here and on Part V, l1ne 4 5 150,717
6 Minimum investment return. Enter 5% of l1ne 5. 6 7,536
D1stnbutable Amount (see mstruct1ons) (Sect1on 4942(])(3) and (J)(S) pnvate operatmg foundations and
I:F.fil!d r
certam fore1qn orqan1zat1ons check here..,.. and do not complete th1s part.)
1 M 1n1mum Investment return from Part X, l1ne 6. 1 7,536
I I
2a Tax on Investment 1ncome for 2012 from Part VI, l1ne 5. 2a
I I
b Incometaxfor2012 (Th1s does not Include the tax from Part VI ). 2b
c Add l1nes 2a and 2b. 2c 0
3 D1stnbutable amount before adJustments Subtract l1ne 2c from l1ne 1. 3 7,536
4 Recovenes of amounts treated as qual1fy1ng d1stnbut1ons. 4 0
5 Add l1nes 3 and 4. 5 7,536
6 Deduction from d1stnbutable amount (see 1nstruct1ons). 6 0
7 Distributable amount as adJusted Subtract l1ne 6 from l1ne 5 Enter here and on Part XIII,
l1ne 1. 7 7,536
I:F.fil!ui Qualifying Distributions (see mstruct1ons)
1 Amounts pa1d (1nclud1ng adm1n1strat1ve expenses) to accomplish chantable, etc, purposes
a Expenses, contnbut1ons, g1fts, etc -total from Part I, column (d), l1ne 26. 1a 794,54 7
b Program-related Investments-total from Part IX-B. 1b 0
2 Amounts pa1d to acqu1re assets used (or held for use) directly 1n carry1ng out chantable, etc,
purposes. 2
3 Amounts set as1de for spec1f1c chantable proJects that sat1sfy the
a Su1tab1l1ty test (pnor IRS approval requ1red). 3a
b Cash d1stnbut1on test (attach the requ1red schedule). 3b
4 Qualifying distributions. Add l1nes 1a through 3b Enter here and on Part V, l1ne 8, and Part XIII, l1ne 4 4 794,54 7
5 Foundations that qualify under sect1on 4940(e) for the reduced rate of tax on net Investment
1ncome Enter 1% of Part I, l1ne 27b (see 1nstruct1ons). 5 0
6 Adjusted qualifying distributions. Subtract l1ne 5 from l1ne 4. 6 794,54 7
Note: The amount on l1ne 6 w1ll be used 1n Part V, column (b), 1n subsequent years when calculating whether the foundation qual1f1es for
the sect1on 4940(e) reduction of tax 1n those years
Form 990-PF (2012)
•F:oFrm. T9 9il 0•-:P·n F •( 2 0 1 2 ) Page 9
Undistributed Income (see mstruct1ons)
(a) (b) (c) (d)
Corpus Years pnorto 2011 2011 2012
1 D1stnbutable amount for 2012 from Part XI, l1ne 7 7,536
2 U nd1stnbuted 1ncome, 1f any, as of the end of 2012
a Enter amount for 2011 only_. _ __ 0
b Total for pnor years 20 , 20 , 20 -- 0
3 Excess d1stnbut1ons carryover, 1fany, to 2012
a From 2007. 492,993
b From 2008. 328,428
c From 2009. 303,194
d From 2010. 830,275
e From 2011. 824,600
f Total of l1nes 3a through e. 2, 779,490
4 Q ual1fy1ng d1stnbut1ons for 2012 from Part
....
XII, l1ne 4 $ 794,547
a Applied to 2011, but not more than l1ne 2a 0
b A ppl1ed to und1stnbuted 1ncome of pnor years
(Eiect1on requ1red-see 1nstruct1ons). 0
c Treated as d1stnbut1ons out of corpus (Eiect1on
requ1red-see 1nstruct1ons). 0
d Applied to 2012 d1stnbutable amount. 7,536
e Rema1n1ng amount d1stnbuted out of corpus 787,011
5 Excess d1stnbut1ons carryover applied to 2012 0 0
(If an amount appears 1n column (d), the
same amount must be shown 1n column (a).)
6 Enter the net total of each column as
indicated below:
a Corpus Add l1nes 3f, 4c, and 4e Subtract l1ne 5 3,566,501
b Pnor years' und1stnbuted 1ncome Subtract
l1ne 4b from l1ne 2b. 0
c Enter the amount of pnor years' und1stnbuted
1ncome for wh1ch a not1ce of def1c1ency has
been 1ssued, or on wh1ch the sect1on 4942(a)
0
tax has been previously assessed.
d Subtract l1ne 6c from l1ne 6b Taxable amount
-see 1nstruct1ons. 0
e U nd1stnbuted 1ncome for 2011 Subtract l1ne
4a from l1ne 2a Taxable amount-see
1nstruct1ons. 0
f U nd1stnbuted 1ncome for 2 012 Subtract
l1nes 4d and 5 from l1ne 1 Th1s amount must
be d1stnbuted 1n 2013. 0
7 A mounts treated as d1stnbut1ons out of
corpus to sat1sfy requirements Imposed by
sect1on 170(b)(1)(F) or4942(g)(3) (see
0
1nstruct1ons).
8 Excess d1stnbut1ons carryover from 2007 not
492,993
applied on l1ne 5 or l1ne 7 (see 1nstruct1ons).
9 Excess distributions carryover to 2013.
Subtract l1nes 7 and 8 from l1ne 6a. 3,073,508
10 Analysis ofl1ne 9
a Excess from 2008. 328,428
b Excess from 2009. 303,194
c Excess from 2 0 1 0 • 830,275
d Excess from 2 0 11. 824,600
e Excess from 2 0 1 2. 787,011
Form 990-PF (2012)