The Masimo Foundation Grants

The Masimo Foundation Grants is a grantmaking program from The Masimo Foundation for Ethics Innovation and Competition in Healthcare that funds nonprofits advancing healthcare ethics, innovation, and competition. The foundation supports organizations globally working to improve patient outcomes and hospital standards through innovative approaches to healthcare delivery.

Eligible applicants include non-profit organizations operating internationally. Grant amounts vary depending on project scope and alignment with the foundation's mission of promoting ethical practices and technological innovation in healthcare settings.

Department of the Treasury # Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation Do not enter social security numbers on this form as it may be made public. Go to www. irs.

gov/Form990PF for instructions and the latest information. Open to Public For calendar year 2021, or tax year beginning 04012021 , and ending 03312022 Number and street (or P. O.

box number if mail is not delivered to street address) Room/suite City or town, state or province, country, and ZIP or foreign postal code A Employer identification number B Telephone number (see instructions) C If exemption application is pending, check here Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see . . .

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. 7 Capital gain net income (from Part IV, line 2) . .

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. 9 Income modifications . .

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b Less: Cost of goods sold . . .

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11 Other income (attach schedule) . . .

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. 12 Total. Add lines 1 through 11 .

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. 14 Other employee salaries and wages . .

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. 15 Pension plans, employee benefits . .

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. . 16a Legal fees (attach schedule) .

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. . b Accounting fees (attach schedule) .

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c Other professional fees (attach schedule) . . .

. 17 Interest . .

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. 18 Taxes (attach schedule) (see instructions) . .

. 19 Depreciation (attach schedule) and depletion . .

. 20 O c c u p a n c y . .

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21 Travel, conferences, and meetings . . .

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. 22 Printing and publications . .

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. . 23 Other expenses (attach schedule) .

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Add lines 13 through 23 . . .

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. 25 Contributions, gifts, grants paid . .

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. . c Adjusted net income (if negative, enter 0) .

. . G Check all that apply: Initial return Initial return of a former public charity Final return Amended return Address change Name change D 1.

Foreign organizations, check here............. 2. Foreign organizations meeting the 85% test, check here and attach computation ...

E If private foundation status was terminated under section 507(b)(1)(A), check here ....... H Check type of organization: Section 501(c)(3) exempt private foundation Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation F If the foundation is in a 60month termination under section 507(b)(1)(B), check here ....... I Fair market value of all assets at end of year (from Part II, col.

(c), line 16) $ 3 , 9 1 9 , 2 2 6 J Accounting method: C a s h Accrual (Part I, column (d) must be on cash basis.)

Contributions, gifts, grants, etc., received (attach Check if the foundation is not required to attach Interest on savings and temporary cash investments 1,351 1,351 Dividends and interest from securities Net rental income or (loss) Net gain or (loss) from sale of assets not on line 10 980 Gross sales price for all assets on line 6a Gross sales less returns and Compensation of officers, directors, trustees, etc. 0 0 0 Total operating and administrative expenses.

Total expenses and disbursements. Add lines 24 and 25 Subtract line 26 from line 12: Excess of revenue over expenses and disbursements 2,031,743 Net investment income (if negative, enter 0) 1,351 For Paperwork Reduction Act Notice, see instructions. Cat.

No. 11289X Form 990PF (2021) Form 990PF (2021) Page 2 Part III Analysis of Changes in Net Assets or Fund Balances . . .

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Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with endofyear figure reported on prior year’s return) 1 4 , 6 7 7 , 6 3 1 2 . . .

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Enter amount from Part I, line 27a 2 2 , 0 3 1 , 7 4 3 3 Other increases not included in line 2 (itemize) 3 0 4 . . .

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. . Add lines 1, 2, and 3 4 2 , 6 4 5 , 8 8 8 5 Decreases not included in line 2 (itemize) 5 1 , 1 3 4 6 .

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 6 2 , 6 4 4 , 7 5 4 1 Cash—noninterestbearing . . .

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. 2 Savings and temporary cash investments . .

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disqualified persons (attach schedule) (see instructions) 8 Inventories for sale or use . . .

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. . 9 Prepaid expenses and deferred charges b Investments—corporate stock (attach schedule) c Investments—corporate bonds (attach schedule) 12 Investments—mortgage loans .

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13 Investments—other (attach schedule) 17 Accounts payable and accrued expenses 18 Grants payable . . .

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. . 19 Deferred revenue .

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. 21 Mortgages and other notes payable (attach schedule) 23 Total liabilities (add lines 17 through 22) . .

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. 24 Net assets without donor restrictions 25 Net assets with donor restrictions 26 Capital stock, trust principal, or current funds 29 Total net assets or fund balances (see instructions) . .

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30 Total liabilities and net assets/fund balances (see instructions) . > Attached schedules and amounts in the description column > should be for endofyear amounts only. (See instructions.)

> Beginning of year End of year > (a) Book Value (b) Book Value (c) Fair Market Value > 151,113 1,541,725 1,541,725 > 5,111,041 2,375,066 2,375,066 Less: allowance for doubtful accounts Less: allowance for doubtful accounts Receivables due from officers, directors, trustees, and other Other notes and loans receivable (attach schedule) Less: allowance for doubtful accounts Investments—U.S. and state government obligations (attach Investments—land, buildings, and equipment: basis Less: accumulated depreciation (attach schedule) Land, buildings, and equipment: basis Less: accumulated depreciation (attach schedule) Total assets (to be completed by all filers—see the instructions.

Also, see page 1, item I) 5,270,539 3,919,226 3,919,226 Loans from officers, directors, trustees, and other disqualified Other liabilities (describe ) Foundations that follow FASB ASC 958, check here and complete lines 24, 25, 29 and 30. Foundations that do not follow FASB ASC 958, check here and complete lines 26 through 30. Paidin or capital surplus, or land, bldg.

, and equipment fund Retained earnings, accumulated income, endowment, or other funds Form 990PF (2021) Form 990PF (2021) Page 3 Part IV Capital Gains and Losses for Tax on Investment Income (a) List and describe the kind(s) of property sold (e.g., real estate, 2story brick warehouse; or common stock, 200 shs. MLC Co.)

1 a M E R R I L L L Y N C H P 2 , 5 1 0 , 4 9 0 2 , 5 1 1 , 4 7 0 9 8 0 Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus col. (k), but not less than 0) or .

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3 Capital gain net income or (net capital loss) If gain, also enter in Part I, line 7 If (loss), enter 0 in Part I, line 7 Net shortterm capital gain or (loss) as defined in sections 1222(5) and (6): If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter 0 Add lines 1 and 2 . .

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. 3 Tax based on investment income. Subtract line 4 from line 3.

If zero or less, enter 0 . . .

. . 5 b Exempt foreign organizations—tax withheld at source .

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6b 0 c Tax paid with application for extension of time to file (Form 8868) Part VIA Statements Regarding Activities Part V Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions) Exempt operating foundations described in section 4940(d)(2), check here and enter Date of ruling or determination letter: (attach copy of letter if necessary–see instructions) All other domestic foundations enter 1.

39% (0. 0139) of line 27b. Exempt foreign organizations enter 4% (0.

04) of Part I, line 12, col. (b) Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter 0) Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only.

Others enter 0) 2021 estimated tax payments and 2020 overpayment credited to 2021 Backup withholding erroneously withheld 7 Total credits and payments. Add lines 6a through 6d . .

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Enter any penalty for underpayment of estimated tax. Check here if Form Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed Overpayment.

If line 7 is more than the total of lines 5 and 8, enter the Enter the amount of line 10 to be: Credited to 2022 estimated tax 1a During the tax year, did the foundation attempt to influence any national, state, or local legislation or did Yes No it participate or intervene in any political campaign? . .

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1a No b Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions for the definition . .

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. 1b No If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities. c Did the foundation file Form 1120POL for this year?

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1c No d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year: (1) On the foundation. $ 0 (2) On foundation managers. $ 0 e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation managers.

$ 0 2 Has the foundation engaged in any activities that have not previously been reported to the IRS? . .

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. . 2 No If "Yes," attach a detailed description of the activities.

3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes . .

. . 3 No 4a Did the foundation have unrelated business gross income of $1,000 or more during the year?

b If "Yes," has it filed a tax return on Form 990T for this year? . .

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. . 4b 5 Was there a liquidation, termination, dissolution, or substantial contraction during the year?

If "Yes," attach the statement required by General Instruction T. 6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either: By language in the governing instrument, By state legislation that effectively amends the governing instrument so that no mandatory that conflict with the state law remain in the governing instrument? .

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6 Yes 7 Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c), and Part XIV.

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7 Yes 8a Enter the states to which the foundation reports or with which it is registered (see instructions) b If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990PF to the Attorney General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

8b No 9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII. If "Yes," complete Part XIII .

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. 9 No 10 Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses.

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. 10 No Form 990PF (2021) Form 990PF (2021) Page 5 Part VIA Statements Regarding Activities (continued) Part VIB Statements Regarding Activities for Which Form 4720 May Be Required charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? 11 At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?

If "Yes," attach schedule. See instructions . .

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. . 11 No 12 Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?

If "Yes," attach statement. See instructions . .

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13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? 13 Yes Website address H T T P : / / W W W . M A S I M O F O U N D A T I O N .

O R G The books are in care of BARNETT COMPANY Telephone no. Located at 30212 TOMAS SUITE 200 RANCHO SANTA MARGARITA CA Z I P + 4 15 Section 4947(a)(1) nonexempt charitable trusts filing Form 990PF in lieu of Form 1041 —check here . . .

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and enter the amount of taxexempt interest received or accrued during the year . . .

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. . 15 16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over Yes No a bank, securities, or other financial account in a foreign country?

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. . 16 No See the instructions for exceptions and filing requirements for FinCEN Form 114.

If "Yes", enter the name of the File Form 4720 if any item is checked in the "Yes" column, unless an exception applies. Yes No 1a During the year did the foundation (either directly or indirectly): (1) Engage in the sale or exchange, or leasing of property with a disqualified person? .

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. 1a(1) No (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? .

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. . 1a(2) No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? (5) Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? .

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1a(5) No (6) Agree to pay money or property to a government official? (Exception. Check "No" if the foundation agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.)

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b If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations section 53. 4941(d)3 or in a current notice regarding disaster assistance? See instructions c Organizations relying on a current notice regarding disaster assistance check here .

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. d Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts, that were not corrected before the first day of the tax year beginning in 2021? .

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1d No 2 Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private operating foundation defined in section 4942(j)(3) or 4942(j)(5)): a At the end of tax year 2021, did the foundation have any undistributed income (lines 6d and 6e, Part XII) for tax year(s) beginning before 2021? . .

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2a No If "Yes," list the years 2 0 , 2 0 , 2 0 , 2 0 b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2) to all years listed, answer "No" and attach statement—see instructions.) .

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. 2b c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here. 3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?

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3a No b If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10, 15, or 20year first phase holding period?

(Use Schedule C, Form 4720, to determine if the foundation had excess business holdings in 2021.) . .

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. 3b 4a Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? 4a No b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its Form 990PF (2021) Form 990PF (2021) Page 6 Part VIB Statements Regarding Activities for Which Form 4720 May Be Required (continued) excess parachute payment during the year?

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. 5a During the year did the foundation pay or incur any amount to: Yes No (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? (2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?

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. . 5a(2) No (3) Provide a grant to an individual for travel, study, or other similar purposes?

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. 5a(3) No (4) Provide a grant to an organization other than a charitable, etc., organization described in section 4945(d)(4)(A)? See instructions .

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. . (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?

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. b If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in Regulations section 53. 4945 or in a current notice regarding disaster assistance?

See instructions c Organizations relying on a current notice regarding disaster assistance check here . . .

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d If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the tax because it maintained expenditure responsibility for the grant? . .

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5d Yes If "Yes," attach the statement required by Regulations section 53. 4945–5(d). 6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

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. . 6a No b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?

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. 6b No If "Yes" to 6b, file Form 8870. 7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

7a No b If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? 8 Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or Part VII Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, 1 List all officers, directors, trustees, foundation managers and their compensation.

See instructions > FREDERICK HARRIS DIRECTOR > MARY KIANI DIRECTOR (LEFT OCT 2021) > TOM MCCLENAHAN SECRETARY 2 Compensation of five highestpaid employees (other than those included on line 1—see instructions). If none, enter “NONE." (a) Name and address of each employee Total number of other employees paid over $50,000 .

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0 Form 990PF (2021) Form 990PF (2021) Page 7 Total number of others receiving over $50,000 for professional services . . .

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. Part VII Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors (continued) 3 Five highestpaid independent contractors for professional services (see instructions). If none, enter "NONE".

(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation Part VIII Summary of Direct Charitable Activities Summary of ProgramRelated Investments (see instructions) Total. Add lines 1 through 3 . .

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. . 0 List the foundation’s four largest direct charitable activities during the tax year.

Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. E x p e n s e s All other programrelated investments. See instructions. Describe the two largest programrelated investments made by the foundation during the tax year on lines 1 and 2.

Amount Form 990PF (2021) Form 990PF (2021) Page 8 Part IX Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.) Part X Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)

Part XI Qualifying Distributions (see instructions) 4 Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.

4 1 Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., a Average monthly fair market value of securities . . .

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. 1a 0 b Average of monthly cash balances . .

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1b 3 , 8 7 3 , 8 5 6 c Fair market value of all other assets (see instructions) . . .

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. 1c 0 d Total (add lines 1a, b, and c) . .

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. . 1d 3 , 8 7 3 , 8 5 6 e Reduction claimed for blockage or other factors reported on lines 1a and 1c (attach detailed explanation) .

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1e 0 2 Acquisition indebtedness applicable to line 1 assets . . .

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3 Subtract line 2 from line 1d . . .

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. 3 3 , 8 7 3 , 8 5 6 4 Cash deemed held for charitable activities. Enter 1.

5% (0. 015) of line 3 (for greater amount, see instructions) . .

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4 5 8 , 1 0 8 5 . . .

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. Net value of noncharitableuse assets. Subtract line 4 from line 3.

5 3 , 8 1 5 , 7 4 8 6 Minimum investment return. Enter 5% (0. 05) of line 5 .

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6 1 9 0 , 7 8 7 1 Minimum investment return from Part IX, line 6 . . .

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1 1 9 0 , 7 8 7 2a Tax on investment income for 2021 from Part V, line 5 . . .

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. 2a 1 9 b Income tax for 2021. (This does not include the tax from Part V.)

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2b c Add lines 2a and 2b . . .

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. 2c 1 9 3 Distributable amount before adjustments. Subtract line 2c from line 1 .

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. . 3 1 9 0 , 7 6 8 4 Recoveries of amounts treated as qualifying distributions .

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4 9 6 , 0 0 0 5 Add lines 3 and 4 . . .

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. 5 2 8 6 , 7 6 8 6 Deduction from distributable amount (see instructions) . .

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6 0 7 Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 .

. . 7 2 8 6 , 7 6 8 1 Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes: a Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 .

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