TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

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.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023

Name of foundation
G FRANK THOMAS FDN INC MAIN

Number and street (or P.O. box number if mail is not delivered to street address)3808 BASFORD RD
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
FREDERICK, MD217037380

A Employer identification number

52-6039803

B Telephone number (see instructions)

(412) 995-1769

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

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

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

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 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$3,971,263J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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 instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	102,509		100,367
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		212,372
b	Gross sales price for all assets on line 6a 3,084,290
7	Capital gain net income (from Part IV, line 2)...			212,372
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	891
12	Total. Add lines 1 through 11........	315,772		312,739
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	390	0	0	390
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	19,173	19,173		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	1,572	1,011		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	2,586	1,539		1,047
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	23,721		21,723	0	1,437
25	Contributions, gifts, grants paid.......	173,000				173,000
26	Total expenses and disbursements. Add lines 24 and 25	196,721		21,723	0	174,437
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	119,051
b	Net investment income (if negative, enter -0-)			291,016
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2023)

Form 990-PF (2023)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............		-426	-426
	2	Savings and temporary cash investments.........	21,604	120,462	120,462
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	527,545	List of Attached Documents: // Content 134,192	162,769
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	2,938,171	List of Attached Documents: // Content 3,352,450	3,688,458
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	3,487,320	3,606,678	3,971,263
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	3,487,320	3,606,678
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	3,487,320	3,606,678
	30	Total liabilities and net assets/fund balances (see instructions).	3,487,320	3,606,678

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

3,487,320

Enter amount from Part I, line 27a .....................

119,051

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

6,315

Add lines 1, 2, and 3 ..........................

3,612,686

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

6,008

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

3,606,678

Form 990-PF (2023)

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, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	1. BECTON DICKINSON & CO		2019-08-21	2023-01-03
b	7. RESMED INC		2019-08-21	2023-01-03
c	.493 SUMMIT MATERIALS INC -CL A		2019-08-21	2023-01-04
d	1. ANSYS INC		2019-08-21	2023-01-05
e	1. AUTODESK INC		2019-08-21	2023-01-05
	3. LIBERTY BROADBAND-A			2023-01-05
	4. WIX.COM LTD SEDOL BFZCHN7		2019-08-21	2023-01-05
	1. BECTON DICKINSON & CO		2019-08-21	2023-01-09
	8. SUMMIT MATERIALS INC -CL A		2019-08-21	2023-01-10
	3. TJX COMPANIES INC NEW		2019-08-21	2023-01-17
	1. IDEXX LABS INC		2019-08-21	2023-01-20
	4. KENNEDY WILSON HOLDINGS INC		2019-08-21	2023-01-20
	1. BECTON DICKINSON & CO		2019-08-21	2023-01-23
	1. BECTON DICKINSON & CO		2019-08-21	2023-01-30
	2. TJX COMPANIES INC NEW		2019-08-21	2023-01-30
	2. CREDIT ACCEPTANCE CORPORATION		2020-04-30	2023-02-03
	1. BECTON DICKINSON & CO		2019-08-21	2023-02-13
	1. GRANITE CONSTRUCTION INC XXX-XX-XXXX CLASS		2001-01-01	2023-02-16
	2. WIX.COM LTD SEDOL BFZCHN7		2019-08-21	2023-02-17
	1. BECTON DICKINSON & CO		2019-08-21	2023-02-21
	3. FIRST REPUBLIC BANK/FRAN		2019-08-21	2023-03-07
	10. JOHNSON & JOHNSON		2019-08-21	2023-03-10
	5. FIRST REPUBLIC BANK/FRAN			2023-03-13
	4. FIRST REPUBLIC BANK/FRAN		2019-08-21	2023-03-13
	11. ALPHABET INC/CA-CL A		2022-12-08	2023-03-14
	80. ALPHABET INC/CA-CL A			2023-03-14
	13. AMPHENOL CORP NEW CL A		2022-09-12	2023-03-14
	23. AMPHENOL CORP NEW CL A			2023-03-14
	54. APPLE INC			2023-03-14
	29. AUTOMATIC DATA PROCESSING INC			2023-03-14
	34. BALL CORPORATION		2022-06-03	2023-03-14
	20. BECTON DICKINSON & CO			2023-03-14
	22. BROADRIDGE FINANCIAL SOL W/I			2023-03-14
	5. EQUIFAX INC			2023-03-14
	15. EQUIFAX INC			2023-03-14
	12. HOME DEPOT INC			2023-03-14
	5. INTUIT SOFTWARE			2023-03-14
	10. INTUIT SOFTWARE			2023-03-14
	37. JOHNSON & JOHNSON			2023-03-14
	15. MARSH & MCLENNAN COMPANIES INC			2023-03-14
	19. MARSH & MCLENNAN COMPANIES INC			2023-03-14
	2. MASTERCARD INC CL A		2022-06-03	2023-03-14
	12. MASTERCARD INC CL A			2023-03-14
	39. MICROSOFT CORP			2023-03-14
	9. MOODY'S CORP			2023-03-14
	15. NIKE INC CLASS B			2023-03-14
	47. NIKE INC CLASS B			2023-03-14
	68. PEPSICO INC			2023-03-14
	22. PFIZER INC		2023-03-10	2023-03-14
	134. PFIZER INC			2023-03-14
	31. PROCTER & GAMBLE CO			2023-03-14
	8. STARBUCKS CORP		2022-06-03	2023-03-14
	48. STARBUCKS CORP			2023-03-14
	33. STRYKER CORP			2023-03-14
	45. TJX COMPANIES INC NEW			2023-03-14
	3. TEXAS INSTRUMENTS INC		2022-06-03	2023-03-14
	21. TEXAS INSTRUMENTS INC			2023-03-14
	16. UNITED PARCEL SERVICE CL B			2023-03-14
	3. UNITEDHEALTH GROUP INC		2022-12-08	2023-03-14
	15. UNITEDHEALTH GROUP INC			2023-03-14
	3. VERISK ANALYTICS INC		2023-03-10	2023-03-14
	10. VERISK ANALYTICS INC			2023-03-14
	22. WASTE MANAGEMENT INC			2023-03-14
	8. ACCENTURE PLC CLASS A SEDOL B4BNMY3			2023-03-14
	21. ACCENTURE PLC CLASS A SEDOL B4BNMY3			2023-03-14
	14. ADOBE INC			2023-03-17
	17. AMERIPRISE FINANCIAL INC		2019-08-21	2023-03-17
	19. AMGEN INC		2019-08-21	2023-03-17
	18. ANSYS INC			2023-03-17
	4. ATMOS ENERGY CORP		2022-11-30	2023-03-17
	35. ATMOS ENERGY CORP		2022-03-15	2023-03-17
	22. AUTODESK INC		2022-05-25	2023-03-17
	37. BLACKSTONE INC		2022-02-22	2023-03-17
	178. COTERRA ENERGY INC		2019-11-15	2023-03-17
	42. CAPITAL ONE FINANCIAL CORP			2023-03-17
	36. CINCINNATI FINANCIAL CORP			2023-03-17
	77. COCA COLA CO			2023-03-17
	42. COMMERCE BANCSHARES INC		2019-10-18	2023-03-17
	1. CONSTELLATION BRANDS INC CL A		2022-11-30	2023-03-17
	14. CONSTELLATION BRANDS INC CL A		2021-12-21	2023-03-17
	122. CORTEVA INC-W/I		2020-01-22	2023-03-17
	27. CROWN CASTLE INC			2023-03-17
	2. CULLEN FROST BANKERS INC		2022-11-30	2023-03-17
	26. CULLEN FROST BANKERS INC			2023-03-17
	21. DANAHER CORP		2019-08-21	2023-03-17
	22. ECOLAB INC		2021-09-21	2023-03-17
	3. EPAM SYSTEMS INC		2021-06-01	2023-03-17
	14. EQUITY LIFESTYLE PROPERTIES REIT		2022-11-01	2023-03-17
	28. EQUITY LIFESTYLE PROPERTIES REIT		2019-08-21	2023-03-17
	17. GENERAL DYNAMICS CORP			2023-03-17
	4. HONEYWELL INTL INC		2022-11-30	2023-03-17
	19. HONEYWELL INTL INC		2020-06-10	2023-03-17
	61. LENNAR CORP CLASS A		2019-08-21	2023-03-17
	9. LULULEMON ATHLETICA INC			2023-03-17
	14. MARTIN MARIETTA MATLS INC		2019-08-21	2023-03-17
	43. MERCK & CO INC		2022-11-16	2023-03-17
	17. MICHELIN (CGDE) UNSPON ADR		2022-11-30	2023-03-17
	236. MICHELIN (CGDE) UNSPON ADR		2021-03-17	2023-03-17
	28. MICROSOFT CORP			2023-03-17
	72. MICROCHIP TECHNOLOGY INC		2019-08-21	2023-03-17
	359. MITSUBISHI UFJ FINL GRP ADR			2023-03-17
	7. OSHKOSH CORPORATION CLASS B		2022-11-30	2023-03-17
	26. OSHKOSH CORPORATION CLASS B		2022-02-11	2023-03-17
	18. PARKER HANNIFIN CORP		2019-08-21	2023-03-17
	19. PAYPAL HOLDINGS INC-W/I		2019-08-21	2023-03-17
	6. PHILLIPS 66		2022-11-30	2023-03-17
	34. PHILLIPS 66			2023-03-17
	30. PROCTER & GAMBLE CO		2020-08-21	2023-03-17
	38. QUALCOMM		2020-04-16	2023-03-17
	48. RPM INTERNATIONAL INC		2020-06-04	2023-03-17
	3. SONY GROUP CORPORATION ADR		2022-11-30	2023-03-17
	54. SONY GROUP CORPORATION ADR		2019-08-21	2023-03-17
	45. SYSCO CORP			2023-03-17
	85. US BANCORP DEL COM NEW		2022-06-10	2023-03-17
	3. XCEL ENERGY INC		2022-11-30	2023-03-17
	62. XCEL ENERGY INC		2022-03-15	2023-03-17
	44. XYLEM INC		2020-03-05	2023-03-17
	6. ACCENTURE PLC CLASS A SEDOL B4BNMY3		2019-08-21	2023-03-17
	39. MEDTRONIC PLC SEDOL BTN1Y11			2023-03-17
	54. ALCON INC SEDOL BJXBP41			2023-03-17
	48. EXPERIAN PLC SPON ADR		2019-08-21	2023-03-21
	4712.042 MFS EMERGING MKTS DEBT FD-R6		2018-12-18	2023-03-24
	10109.89 PGIM HIGH YIELD FUND CLASS R6			2023-03-24
	1. GUIDEWIRE SOFTWARE INC		2021-09-07	2023-03-28
	1. TRANSDIGM GROUP INC		2019-08-21	2023-03-28
	99.537 FIDELITY 500 INDEX FD-AI			2023-03-29
	5707.336 FIDELITY 500 INDEX FD-AI			2023-03-29
	297. INVESCO QQQ TRUST ETF		2020-07-14	2023-03-29
	486. ISHARES CORE S&P MID-CAP ETF			2023-03-29
	1664. ISHARES CORE S&P SMALL CAP ETF			2023-03-29
	3660. REAL ESTATE SELECT SECT SPDR ETF			2023-03-29
	1684. WISDOMTREE U.S. QUALITY DIVI ETF		2020-11-03	2023-03-29
	63. ALCON INC SEDOL BJXBP41			2023-04-10
	3. GUIDEWIRE SOFTWARE INC			2023-04-26
	2. KENNEDY WILSON HOLDINGS INC			2023-04-26
	6. KENNEDY WILSON HOLDINGS INC		2020-09-21	2023-05-03
	83. LASERTEC CORP - ADR UNSP SEDOL BMC3HL0		2021-05-20	2023-05-09
	5. KKR & CO INC CLASS A		2019-08-21	2023-05-11
	3. LIBERTY BROADBAND-C			2023-05-11
	3. WIX.COM LTD SEDOL BFZCHN7		2019-08-21	2023-05-11
	. GCI LIBERTY INC - CLASS A MERGED 12/18/2020			2023-05-23
	3. ARES MANAGEMENT CORP - A		2021-05-06	2023-06-06
	12. LI NING CO LTD-UNSPON ADR SEDOL B3F9P07			2023-06-07
	4. COPART INC		2019-08-21	2023-06-16
	3. FNF GROUP-W/I		2019-08-21	2023-06-16
	9. KKR & CO INC CLASS A		2019-08-21	2023-06-16
	4. FNF GROUP-W/I		2019-08-21	2023-07-07
	1. TRANSDIGM GROUP INC		2019-08-21	2023-07-07
	2. WIX.COM LTD SEDOL BFZCHN7		2019-08-21	2023-07-07
	3. CANADIAN PACIFIC KANSAS CITY SEDOL BMBQR09		2019-08-21	2023-07-20
	2. NESTLE S.A. SPONSORED ADR REPSTG REG SH		2019-08-21	2023-07-20
	9. SIKA AG-BR-ADR ADR SEDOL B98D285		2020-01-17	2023-07-20
	1. AON PLC/IRELAND-A SEDOL BLP1HW5		2020-07-31	2023-07-20
	1. ICON PLC SEDOL B94G471		2019-08-21	2023-07-20
	1. STERIS PLC SEDOL BFY8C75		2019-08-21	2023-07-20
	1. ASM INTERNATIONAL N V		2022-04-19	2023-07-20
	1. FERRARI NV - W/I SEDOL BZ1GMK5		2020-03-25	2023-07-20
	.011 ATLANTA BRAVES HOLDINGS IN-C		2019-08-21	2023-07-25
	3. COPART INC		2019-08-21	2023-07-25
	3. ESAB CORP-W/I		2019-08-21	2023-07-25
	1. ATLANTA BRAVES HOLDINGS IN-C			2023-08-01
	1. WIX.COM LTD SEDOL BFZCHN7		2019-08-21	2023-08-03
	45. CSL LTD-SPONSORED ADR ADR SEDOL BN5TD14		2019-08-21	2023-08-04
	108. AIA GROUP LTD SPONSORED ADR			2023-08-11
	.369 LIBERTY MEDIA CORP-LIBERTY-C		2019-08-21	2023-08-14
	.128 LIBERTY MEDIA CORP-LIBERTY-A		2019-08-21	2023-08-14
	1. LIBERTY MEDIA CORP-LIBERTY-C			2023-08-17
	1. MOODY'S CORP		2019-08-21	2023-08-17
	1. DOLLAR GENERAL CORP		2022-12-09	2023-09-11
	9. DOLLAR GENERAL CORP			2023-09-11
	39. BLACK KNIGHT INC-WHEN ISSUED MERGED 09/05/23 @ $75.867 P/S			2023-09-12
	13. RESMED INC		2019-08-21	2023-09-15
	2. AUTODESK INC		2019-08-21	2023-09-20
	82. PERNOD RICARD SA - SPON ADR SEDOL BP9RHV6		2019-08-21	2023-09-26
	3. AIR PRODUCTS & CHEMICALS INC		2019-08-21	2023-09-28
	3. HOWARD HUGHES HOLDINGS INC		2019-08-21	2023-10-18
	6. COPART INC		2019-08-21	2023-10-27
	1. HOWARD HUGHES HOLDINGS INC		2019-08-21	2023-10-27
	3. TRANSUNION		2019-08-21	2023-10-27
	381.95 BLACKROCK TOTAL RETURN-I			2023-11-02
	24630.937 BLACKROCK TOTAL RETURN-I			2023-11-02
	1001. ISHARES BARCLAYS 7-10 YEAR TREASURY		2023-03-24	2023-11-02
	171.267 METROPOLITAN WEST UNCONSTRAINED BOND FUND CLASS I			2023-11-02
	958.899 METROPOLITAN WEST UNCONSTRAINED BOND FUND CLASS I			2023-11-02
	14569.748 METROPOLITAN WEST UNCONSTRAINED BOND FUND CLASS I			2023-11-02
	15.924 VANGUARD TOTAL BD MKT INDX 584 ADM			2023-11-02
	41555.379 VANGUARD TOTAL BD MKT INDX 584 ADM			2023-11-02
	71. SCHNEIDER ELECTRIC SE		2022-04-06	2023-11-08
	42. LONZA GROUP AG UNSPON ADR			2023-11-10
	56. SIKA AG-BR-ADR ADR SEDOL B98D285		2020-01-17	2023-11-10
	18. TRANSUNION		2019-08-21	2023-11-10
	1000. ISHARES MSCI USA QUALITY FACTOR ETF		2023-03-29	2023-11-17
	3. ARCH CAPITAL GROUP LTD SEDOL 2740542		2019-08-21	2023-11-17
	2. METTLER TOLEDO INTL INC		2019-08-21	2023-11-21
	4. AGILENT TECHNOLOGIES (IPO)			2023-12-01
	15. AGILENT TECHNOLOGIES (IPO)			2023-12-01
	3. ANSYS INC		2019-08-21	2023-12-01
	1. ARES MANAGEMENT CORP - A		2023-02-03	2023-12-01
	8. ARES MANAGEMENT CORP - A			2023-12-01
	13. AUTODESK INC			2023-12-01
	70. BROOKFIELD CORP SEDOL BP95GG8			2023-12-01
	162. BROOKFIELD CORP SEDOL BP95GG8			2023-12-01
	50. BROOKFIELD INFRASTRUCTURE-A SEDOL BJP50C4			2023-12-01
	76. BROOKFIELD INFRASTRUCTURE-A SEDOL BJP50C4			2023-12-01
	5. BROOKFIELD RENEWABLE COR CL-A SEDOL BMW8YT2			2023-12-01
	54. BROOKFIELD RENEWABLE COR CL-A SEDOL BMW8YT2			2023-12-01
	40. BROOKFIELD ASSET MGMT-A-W/I SEDOL N.A.			2023-12-01
	12. BROWN & BROWN INC			2023-12-01
	59. BROWN & BROWN INC			2023-12-01
	6. BROWN FORMAN CORP CLASS B		2023-10-27	2023-12-01
	2. BROWN FORMAN CORP CLASS B		2019-08-21	2023-12-01
	10. CBRE GROUP INC			2023-12-01
	30. CBRE GROUP INC			2023-12-01
	3. CARMAX INC		2022-12-09	2023-12-01
	49. CARMAX INC			2023-12-01
	8. COGNEX CORP			2023-12-01
	3. ENOVIS CORP		2019-08-21	2023-12-01
	4. COPART INC		2022-12-21	2023-12-01
	184. COPART INC			2023-12-01
	3. COSTAR GROUP INC			2023-12-01
	86. COSTAR GROUP INC			2023-12-01
	2. DOMINO'S PIZZA, INC.			2023-12-01
	8. DOMINO'S PIZZA, INC.			2023-12-01
	45. FASTENAL CO			2023-12-01
	3. GARTNER INC			2023-12-01
	6. GARTNER INC			2023-12-01
	10. HEICO CORP NEW CL A			2023-12-01
	43. HEICO CORP NEW CL A			2023-12-01
	3. HILTON WORLDWIDE HLDGS - W/I			2023-12-01
	39. HILTON WORLDWIDE HLDGS - W/I			2023-12-01
	10. HOWARD HUGHES HOLDINGS INC			2023-12-01
	13. HYATT HOTELS CORP CL A		2019-08-21	2023-12-01
	3. IDEXX LABS INC			2023-12-01
	95. KKR & CO INC CLASS A			2023-12-01
	27. LENNAR CORP CLASS A			2023-12-01
	32. LIBERTY MEDIA CORP-LIB-NEW-C			2023-12-01
	3. LIBERTY MEDIA CORP-LIB-NEW-A		2019-08-21	2023-12-01
	2. LIVE NATION ENTERTAINMENT INC		2023-03-28	2023-12-01
	40. LIVE NATION ENTERTAINMENT INC			2023-12-01
	2. MSCI INC			2023-12-01
	2. MSCI INC		2019-08-21	2023-12-01
	3. MARKEL GROUP INC		2019-08-21	2023-12-01
	6. MARTIN MARIETTA MATLS INC		2019-08-21	2023-12-01
	36. MICROCHIP TECHNOLOGY INC		2019-08-21	2023-12-01
	5. MOODY'S CORP			2023-12-01
	8. O REILLY AUTOMOTIVE INC		2019-08-21	2023-12-01
	1. PROGRESSIVE CORP OHIO		2023-10-18	2023-12-01
	18. PROGRESSIVE CORP OHIO			2023-12-01
	2. ROPER TECHNOLOGIES INC			2023-12-01
	10. ROPER TECHNOLOGIES INC			2023-12-01
	5. ROSS STORES INC			2023-12-01
	2. SBA COMMUNICATIONS CORP			2023-12-01
	14. SBA COMMUNICATIONS CORP			2023-12-01
	3. SHERWIN-WILLIAMS CO		2023-09-28	2023-12-01
	21. SUMMIT MATERIALS INC -CL A		2019-08-21	2023-12-01
	10. TRANSDIGM GROUP INC			2023-12-01
	1. TYLER TECHNOLOGIES INC		2023-03-28	2023-12-01
	8. TYLER TECHNOLOGIES INC			2023-12-01
	1. VAIL RESORTS INC		2023-09-28	2023-12-01
	9. VAIL RESORTS INC		2019-08-21	2023-12-01
	1. VERISIGN INC		2023-09-20	2023-12-01
	14. VERISIGN INC			2023-12-01
	8. VERISK ANALYTICS INC		2019-08-21	2023-12-01
	25. VULCAN MATERIALS CO			2023-12-01
	3. WATERS CORP			2023-12-01
	4. AON PLC/IRELAND-A SEDOL BLP1HW5			2023-12-01
	34. ARCH CAPITAL GROUP LTD SEDOL 2740542			2023-12-01
	65. PERIMETER SOLUTIONS SA SEDOL BP8KZH8			2023-12-01
	6. WIX.COM LTD SEDOL BFZCHN7			2023-12-01
	16. DSV A/S ADR SEDOL B3FP4L9		2023-03-29	2023-12-11
	33. DSV A/S ADR SEDOL B3FP4L9		2019-08-21	2023-12-11
	79. SIKA AG-BR-ADR ADR SEDOL B98D285		2020-01-17	2023-12-11
	5. CANADIAN PACIFIC KANSAS CITY SEDOL BMBQR09		2019-08-21	2023-12-27
	6. NOVO NORDISK A S ADR		2022-01-07	2023-12-27
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	255	246	9
b	1,454	962	492
c	14	10	4
d	232	217	15
e	182	146	36
	249	347	-98
	299	593	-294
	257	246	11
	236	158	78
	245	158	87
	478	283	195
	65	77	-12
	252	246	6
	251	246	5
	163	105	58
	1,065	604	461
	248	246	2
	16		16
	171	297	-126
	241	246	-5
	354	272	82
	1,530	1,314	216
	160	710	-550
	128	362	-234
	1,023	1,033	-10
	7,440	5,859	1,581
	1,000	992	8
	1,769	1,749	20
	8,152	3,302	4,850
	6,154	4,910	1,244
	1,787	2,477	-690
	4,632	4,861	-229
	3,010	2,836	174
	989	993	-4
	2,967	2,116	851
	3,401	3,432	-31
	2,018	1,996	22
	4,036	2,785	1,251
	5,648	5,157	491
	2,331	2,459	-128
	2,953	2,752	201
	701	718	-17
	4,205	3,516	689
	10,077	5,960	4,117
	2,609	2,879	-270
	1,770	1,756	14
	5,545	4,376	1,169
	11,706	9,204	2,502
	873	879	-6
	5,318	4,622	696
	4,292	3,811	481
	794	632	162
	4,762	4,211	551
	8,958	7,118	1,840
	3,342	2,401	941
	519	520	-1
	3,636	2,804	832
	2,947	1,810	1,137
	1,379	1,650	-271
	6,897	3,827	3,070
	539	541	-2
	1,797	1,681	116
	3,378	2,528	850
	2,008	2,405	-397
	5,270	4,234	1,036
	4,971	4,265	706
	4,799	2,181	2,618
	4,411	3,883	528
	5,641	4,020	1,621
	460	477	-17
	4,021	3,987	34
	4,417	4,031	386
	3,180	4,526	-1,346
	4,156	3,240	916
	3,797	3,923	-126
	3,899	3,025	874
	4,618	4,161	457
	2,457	2,166	291
	214	251	-37
	2,999	3,381	-382
	6,930	3,436	3,494
	3,593	4,308	-715
	209	287	-78
	2,718	2,390	328
	5,200	2,938	2,262
	3,460	4,811	-1,351
	837	1,431	-594
	910	896	14
	1,820	1,897	-77
	3,711	3,145	566
	749	864	-115
	3,557	2,957	600
	6,366	3,140	3,226
	2,628	2,019	609
	4,534	3,530	1,004
	4,584	4,325	259
	242	234	8
	3,360	4,428	-1,068
	7,810	4,036	3,774
	5,871	3,217	2,654
	2,202	1,667	535
	560	632	-72
	2,082	3,013	-931
	5,528	2,958	2,570
	1,403	2,081	-678
	573	647	-74
	3,244	3,222	22
	4,268	4,133	135
	4,601	2,913	1,688
	4,036	3,683	353
	260	242	18
	4,688	3,078	1,610
	3,313	3,832	-519
	2,928	4,154	-1,226
	200	207	-7
	4,124	4,356	-232
	4,196	3,645	551
	1,506	1,179	327
	3,080	4,263	-1,183
	3,560	2,917	643
	1,559	1,500	59
	54,000	64,501	-10,501
	46,000	61,037	-15,037
	76	123	-47
	717	511	206
	13,958	13,463	495
	800,340	593,821	206,519
	92,439	75,540	16,899
	118,510	97,533	20,977
	157,596	120,035	37,561
	131,185	132,044	-859
	102,699	82,974	19,725
	4,333	3,749	584
	225	356	-131
	32	29	3
	99	71	28
	2,236	2,763	-527
	243	128	115
	233	396	-163
	236	445	-209
	16		16
	274	152	122
	1,805	3,439	-1,634
	349	154	195
	104	133	-29
	518	230	288
	144	177	-33
	883	511	372
	153	297	-144
	244	145	99
	240	222	18
	267	168	99
	340	205	135
	249	156	93
	227	152	75
	431	318	113
	319	150	169

	270	116	154
	202	105	97
	40	27	13
	96	148	-52
	3,899	3,620	279
	4,049	4,407	-358
	13	7	6
	4	3	1
	34	19	15
	330	219	111
	126	248	-122
	1,131	1,721	-590
	2,959	2,550	409
	1,918	1,786	132
	422	292	130
	2,784	3,029	-245
	860	685	175
	206	398	-192
	258	116	142
	66	133	-67
	132	253	-121
	3,609	4,642	-1,033
	232,762	285,739	-52,977
	91,080	100,086	-9,006
	1,704	2,027	-323
	9,541	9,826	-285
	144,969	172,902	-27,933
	146	184	-38
	379,816	477,778	-97,962
	2,295	2,298	-3
	1,550	2,593	-1,043
	1,396	1,048	348
	938	1,518	-580
	139,719	121,063	18,656
	252	119	133
	2,192	1,341	851
	513	517	-4
	1,922	1,910	12
	885	650	235
	112	83	29
	894	503	391
	2,911	2,316	595
	2,518	2,294	224
	5,828	4,613	1,215
	1,628	1,677	-49
	2,475	2,762	-287
	138	164	-26
	1,491	2,321	-830
	1,437	1,049	388
	890	715	175
	4,375	2,494	1,881
	358	333	25
	119	117	2
	812	829	-17
	2,436	1,620	816
	198	200	-2
	3,239	4,025	-786
	307	521	-214
	152	139	13
	200	121	79
	9,206	4,351	4,855
	255	249	6
	7,323	6,643	680
	789	717	72
	3,155	2,210	945
	2,729	1,557	1,172
	1,313	1,062	251
	2,626	820	1,806
	1,405	1,318	87
	6,043	4,469	1,574
	512	424	88
	6,660	3,835	2,825
	750	1,178	-428
	1,522	966	556
	1,442	908	534
	7,162	2,861	4,301
	3,544	1,512	2,032
	2,037	1,294	743
	172	114	58
	168	135	33
	3,356	2,401	955
	1,052	1,074	-22
	1,052	471	581
	4,303	3,428	875
	2,799	1,513	1,286
	3,044	1,608	1,436
	1,851	1,235	616
	7,864	3,081	4,783
	163	160	3
	2,934	1,636	1,298
	1,079	863	216
	5,393	3,915	1,478
	660	426	234
	499	460	39
	3,493	3,630	-137
	846	769	77
	747	415	332
	9,719	4,834	4,885
	411	330	81
	3,289	3,335	-46
	220	242	-22
	1,982	2,185	-203
	218	202	16
	3,049	2,847	202
	1,943	1,272	671
	5,389	3,613	1,776
	858	803	55
	1,307	860	447
	2,827	1,347	1,480
	284	767	-483
	630	1,246	-616
	1,243	1,548	-305
	2,563	1,597	966
	2,212	1,479	733
	399	242	157
	617	303	314
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639
			3,639

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 Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			9
b			492
c			4
d			15
e			36
			-98
			-294
			11
			78
			87
			195
			-12
			6
			5
			58
			461
			2
			16
			-126
			-5
			82
			216
			-550
			-234
			-10
			1,581
			8
			20
			4,850
			1,244
			-690
			-229
			174
			-4
			851
			-31
			22
			1,251
			491
			-128
			201
			-17
			689
			4,117
			-270
			14
			1,169
			2,502
			-6
			696
			481
			162
			551
			1,840
			941
			-1
			832
			1,137
			-271
			3,070
			-2
			116
			850
			-397
			1,036
			706
			2,618
			528
			1,621
			-17
			34
			386
			-1,346
			916
			-126
			874
			457
			291
			-37
			-382
			3,494
			-715
			-78
			328
			2,262
			-1,351
			-594
			14
			-77
			566
			-115
			600
			3,226
			609
			1,004
			259
			8
			-1,068
			3,774
			2,654
			535
			-72
			-931
			2,570
			-678
			-74
			22
			135
			1,688
			353
			18
			1,610
			-519
			-1,226
			-7
			-232
			551
			327
			-1,183
			643
			59
			-10,501
			-15,037
			-47
			206
			495
			206,519
			16,899
			20,977
			37,561
			-859
			19,725
			584
			-131
			3
			28
			-527
			115
			-163
			-209
			16
			122
			-1,634
			195
			-29
			288
			-33
			372
			-144
			99
			18
			99
			135
			93
			75
			113
			169

			154
			97
			13
			-52
			279
			-358
			6
			1
			15
			111
			-122
			-590
			409
			132
			130
			-245
			175
			-192
			142
			-67
			-121
			-1,033
			-52,977
			-9,006
			-323
			-285
			-27,933
			-38
			-97,962
			-3
			-1,043
			348
			-580
			18,656
			133
			851
			-4
			12
			235
			29
			391
			595
			224
			1,215
			-49
			-287
			-26
			-830
			388
			175
			1,881
			25
			2
			-17
			816
			-2
			-786
			-214
			13
			79
			4,855
			6
			680
			72
			945
			1,172
			251
			1,806
			87
			1,574
			88
			2,825
			-428
			556
			534
			4,301
			2,032
			743
			58
			33
			955
			-22
			581
			875
			1,286
			1,436
			616
			4,783
			3
			1,298
			216
			1,478
			234
			39
			-137
			77
			332
			4,885
			81
			-46
			-22
			-203
			16
			202
			671
			1,776
			55
			447
			1,480
			-483
			-616
			-305
			966
			733
			157
			314

2	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	2	212,372
3	Net short-term 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- in Part I, line 8 ...................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	4,045
b	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)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	4,045
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	4,045
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	1,123
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	1,123
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	2,922
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax0	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ (2) On foundation managers. right arrow

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

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

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

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

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

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

PNC BANK NA Telephone no. right arrow

(412) 995-1769

Located at right arrow

116 ALLEGHENY CENTER MALLPITTSBURGHPA ZIP+4 right arrow

15212

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow

Form 990-PF (2023)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

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? ...........

1a(1)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)? ......................

1a(5)

(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.) ...............

1a(6)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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 2023? .............

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)):

At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2023?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year 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 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2023.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
MR ADRIAN L WINPIGLER	DIRECTOR 1	0
5321 REELS MILL ROAD FREDERICK,MD21701	DIRECTOR 1	0
MR RYAN N BAUGHER	DIRECTOR 1	0
6319 NEW HAVEN COURT FREDERICK,MD21703	DIRECTOR 1	0
MRS PAMELA I MARTIN	PRESIDENT & DIRECTOR 1	0
3808 BASFORD ROAD FREDERICK,MD217037830	PRESIDENT & DIRECTOR 1	0
MRS AMANDA I BAUGHER	DIRECTOR 1	0
191 South East Street FREDERICK,MD21701	DIRECTOR 1	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2023)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
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 paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

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.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2023)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

3,814,710

Average of monthly cash balances.......................

Fair market value of all other assets (see instructions)................

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

3,814,710

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

3,814,710

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

57,221

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

3,757,489

Minimum investment return. Enter 5% (0.05) of line 5................

187,874

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part IX, line 6..................

187,874

Tax on investment income for 2022 from Part V, line 5.......

4,045

Income tax for 2022. (This does not include the tax from Part V.) ...

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

4,045

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

183,829

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

183,829

Deduction from distributable amount (see instructions).................

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

183,829

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

174,437

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

174,437

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					183,829
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......	12,475
b From 2019......	13,404
c From 2020......	0
d From 2021......	0
e From 2022......	0
f Total of lines 3a through e ........		25,879
4Qualifying distributions for 2023 from Part
XI, line 4: $ 174,437
a Applied to 2022, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2023 distributable amount.....					174,437
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2023.		9,392			9,392
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		16,487
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		3,083
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		13,404
10 Analysis of line 9:
a Excess from 2019....	13,404
b Excess from 2020....	0
c Excess from 2021....	0
d Excess from 2022....	0
e Excess from 2023....	0

Form 990-PF (2023)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2023	(b) 2022	(c) 2021	(d) 2020	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

PAMELA I MARTIN PRESIDENT DIRECT
3808 BASFORD ROAD
FREDERICK,MD21703
(240) 344-8906

bThe form in which applications should be submitted and information and materials they should include:

BY LETTER ALONG WITH DESCRIPTION OF PURPOSE OF ORGANIZATION

cAny submission deadlines:

OCTOBER 1ST ANNUALLY GRANTS MADE IN DECEMBER

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

GRANTS ARE MADE TO ORGANIZATIONS OPERATING IN FREDERICK COUNTY, MD AND TO MCDANIEL COLLEGE, WESTMINSTER, MD

Form 990-PF (2023)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
RELIG COALITION EMER HUMAN NEEDS 506 FAIRVIEW AVENUE FREDERICK,MD217014119	NONE	PC	GENERAL SUPPORT	11,500
DELAPLAINE ARTS CENTER 40 SOUTH CARROLL STREET FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	2,500
FREDERICK COUNTY PUBLIC LIBRARIES 110 EAST PATRICK STREET FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	10,000
HERITAGE FREDERICK 24 EAST CHURCH STREET FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	5,000
The Frederick Chorale PO BOX 3009 Frederick,MD21705	NONE	PC	GENERAL SUPPORT	2,000
CARE FOR ALS INC 11073 CENTRAL AVE Ridgely,MD21660	NONE	PC	GENERAL SUPPORT	4,000
Department of Housing and Human Services 100 S MARKET ST Frederick,MD21701	NONE	PC	GENERAL SUPPORT	10,000
SECOND CHANCES GARAGE INC 528 N MARKET STREET FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	5,000
CENTRO HISPANO DE FREDERICK INC PO BOX 341 FREDERICK,MD21705	NONE	PC	GENERAL SUPPORT	5,000
Student Homelessness Initiative Partnership of Frederick County PO BOX 1629 Frederick,MD21702	NONE	PC	GENERAL SUPPORT	2,000
UP & OUT FOUNDATION INC 309 E MAIN ST EMMITSBURG,MD21727	NONE	PC	GENERAL SUPPORT	3,500
SAFE RIDE FOUNDATION 122 E PATRICK ST 114 Frederick,MD21701	NONE	PC	GENERAL SUPPORT	2,000
FAITH HOUSE PO BOX 3389 FREDERICK,MD21705	NONE	PC	GENERAL SUPPORT	4,000
HOOD COLLEGE 401 ROSEMONT AVE FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	8,000
FREDERICK HEALTH HOSPITAL INC 400 WEST 7TH STREET FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	10,000
MCDANIEL COLLEGE 2 COLLEGE HILL WESTMINSTER,MD21157	NONE	PC	GENERAL SUPPORT	8,000
FREDERICK RESCUE MISSION INC PO BOX 3389 FREDERICK,MD21705	NONE	PC	GENERAL SUPPORT	5,000
TRINITY UNITED METHODIST CHURCH 705 W PATRICK ST FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	2,000
MENTAL HEALTH ASSOCIATION OF FREDERICK COUNTY INC 226 SOUTH JEFFERSON ST FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	10,000
Mother Seton School Inc 100 CREAMERY RD Emmitsburg,MD21727	NONE	PC	GENERAL SUPPORT	2,000
FREDERICK ARTS COUNCIL INC 125 E PATRICK ST FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	4,000
HOSPICE OF FREDERICK COUNTY INC PO BOX 1799 FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	9,000
HEARTLY HOUSE INC PO BOX 857 FREDERICK,MD21705	NONE	PC	GENERAL SUPPORT	5,000
FREDERICK COMMUNITY COLLEGE FDN 7932 OPOSSUMTOWN PIKE FREDERICK,MD21702	NONE	PC	GENERAL SUPPORT	8,000
ADVOCATES FOR HOMELESS FAMILIES INC 216 ABRECHT PLACE FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	4,000
Frederick County 4-H Therapeutic Riding 11515 ANGLEBERGER RD Thurmont,PA21788	NONE	PC	GENERAL SUPPORT	1,500
REBUILDING TOGETHER WITH CHRISTMAS IN APRIL FREDERICK COUNTY MD INC PO BOX 1822 FREDERICK,MD21702	NONE	PC	GENERAL SUPPORT	4,000
WEINBERG CENTER FOR THE ARTS INC 20 W PATRICK ST FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	4,000
Homewood at Frederick MD Inc 16107 ELLIOTT PKWY Williamsport,MD21795	NONE	PC	GENERAL SUPPORT	4,000
Operation No Person Left Behind Outdoors PO BOX 132 Libertytown,MD21762	NONE	PC	GENERAL SUPPORT	2,000
CROSSED BRIDGES 91 HOWARD CT FREDERICK,MD21702	NONE	PC	GENERAL SUPPORT	4,000
Get Kids Outside 3810 AUSHERMAN RD Knoxville,MD21758	NONE	PC	GENERAL SUPPORT	2,000
MISSION OF MERCY 22 SOUTH MARKET ST FREDERICK,MD21701	NONE	PC	GENERAL SUPPORT	10,000
Total ................................. 3a				173,000

bApproved for future payment

Total ................................. 3b

Form 990-PF (2023)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....			14	102,509
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	212,372
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	891
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				315,772

13Total. Add line 12, columns (b), (d), and (e)..................

315,772

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Stock	End of Year Book Value	End of Year Fair Market Value
115236101 BROWN & BROWN INC
115637209 BROWN FORMAN CORP CL
127097103 COTERRA ENERGY INC
143130102 CARMAX INC
172062101 CINCINNATI FINANCIAL
191216100 COCA COLA CO
192422103 COGNEX CORP
200525103 COMMERCE BANCSHARES
217204106 COPART INC
225310101 CREDIT ACCEPTANCE CO
229899109 CULLEN FROST BANKERS
235851102 DANAHER CORP
256677105 DOLLAR GENERAL CORP
294429105 EQUIFAX INC
311900104 FASTENAL CO
366651107 GARTNER INC
369550108 GENERAL DYNAMICS COR
422806208 HEICO CORP NEW CL A
437076102 HOME DEPOT INC
438516106 HONEYWELL INTL INC
448579102 HYATT HOTELS CORP CL
461202103 INTUIT SOFTWARE
478160104 JOHNSON & JOHNSON
489398107 KENNEDY WILSON HOLDI
502441306 LVMH MOET HENNESSY L	2,220	4,386
526057104 LENNAR CORP CLASS A
530307107 LIBERTY BROADBAND-A
530307305 LIBERTY BROADBAND-C
531229854 LIBERTY FORMULA ONE
531229870 LIBERTY FORMULA ONE
538034109 LIVE NATION ENTERTAI
550021109 LULULEMON ATHLETICA
570535104 MARKEL CORP (HOLDING
573284106 MARTIN MARIETTA MATL
592688105 METTLER TOLEDO INTL
594918104 MICROSOFT CORP
595017104 MICROCHIP TECHNOLOGY
606822104 MITSUBISHI UFJ FINL
615369105 MOODY'S CORP
641069406 NESTLE S.A. SPONSORE	3,997	4,163
654106103 NIKE INC CLASS B
688239201 OSHKOSH CORPORATION
701094104 PARKER HANNIFIN CORP
713448108 PEPSICO INC
717081103 PFIZER INC
718546104 PHILLIPS 66
742718109 PROCTER & GAMBLE CO
743315103 PROGRESSIVE CORP OHI
747525103 QUALCOMM
749685103 RPM INTERNATIONAL IN
761152107 RESMED INC
776696106 ROPER TECHNOLOGIES I
778296103 ROSS STORES INC
835699307 SONY GROUP CORPORATI
855244109 STARBUCKS CORP
863667101 STRYKER CORP
872540109 TJX COMPANIES INC NE
882508104 TEXAS INSTRUMENTS IN
893641100 TRANSDIGM GROUP INC
902252105 TYLER TECHNOLOGIES I
911312106 UNITED PARCEL SERVIC
929160109 VULCAN MATERIALS CO
92343E102 VERISIGN INC
00724F101 ADOBE INC
00783V104 ADYEN NV-UNSPON ADR	7,053	5,899
00846U101 AGILENT TECHNOLOGIES
02079K305 ALPHABET INC/CA-CL A
02263T104 AMADEUS IT GROUP S A
03076C106 AMERIPRISE FINANCIAL
03662Q105 ANSYS INC
05523R107 BAE SYSYTEMS PLC SPO	4,645	5,146
09215C105 BLACK KNIGHT INC-WHE
11133T103 BROADRIDGE FINANCIAL
11275Q107 BROOKFIELD INFRASTRU
11284V105 BROOKFIELD RENEWABLE
12504L109 CBRE GROUP INC
12637N204 CSL LTD-SPONSORED AD
13645T100 CANADIAN PACIFIC RAI
14040H105 CAPITAL ONE FINANCIA
22052L104 CORTEVA INC-W/I
22160N109 COSTAR GROUP INC
25754A201 DOMINO'S PIZZA, INC.
26251A108 DSV A/S ADR SEDOL B3
29472R108 EQUITY LIFESTYLE PRO
30215C101 EXPERIAN PLC SPON AD	3,531	4,604
31620R303 FNF GROUP-W/I
33616C100 FIRST REPUBLIC BANK/
40171V100 GUIDEWIRE SOFTWARE I
43300A203 HILTON WORLDWIDE HLD
44267D107 HOWARD HUGHES CORP T
45168D104 IDEXX LABS INC
48251W104 KKR & CO INC CLASS A
54338V101 LONZA GROUP AG UNSPO
55354G100 MSCI INC
57636Q104 MASTERCARD INC CL A
67103H107 O REILLY AUTOMOTIVE
70450Y103 PAYPAL HOLDINGS INC-
78410G104 SBA COMMUNICATIONS C
82674R103 SIKA AG-BR-ADR ADR S
86614U100 SUMMIT MATERIALS INC
89400J107 TRANSUNION
91324P102 UNITEDHEALTH GROUP I
91879Q109 VAIL RESORTS INC
92345Y106 VERISK ANALYTICS INC
94106L109 WASTE MANAGEMENT INC
98419M100 XYLEM INC
G0403H108 AON PLC/IRELAND-A SE	3,952	4,947
G0450A105 ARCH CAPITAL GROUP L	3,827	4,085
G1151C101 ACCENTURE PLC CLASS	3,410	5,264
G4705A100 ICON PLC SEDOL B94G4	5,474	7,360
G5960L103 MEDTRONIC PLC SEDOL
G8473T100 STERIS PLC SEDOL BFY	3,026	4,397
H01301128 ALCON INC SEDOL BJXB
M98068105 WIX.COM LTD SEDOL BF
N07059210 ASML HOLDING NV-NY S	2,373	6,812
N3167Y103 FERRARI NV - W/I SED	3,716	7,445
001317205 AIA GROUP LTD SPONSO
009158106 AIR PRODUCTS & CHEMI
031162100 AMGEN INC
032095101 AMPHENOL CORP NEW CL
037833100 APPLE INC
03990B101 ARES MANAGEMENT CORP
049255706 ATLAS COPCO AB SPONS	1,519	3,597
052769106 AUTODESK INC
053015103 AUTOMATIC DATA PROCE
075887109 BECTON DICKINSON & C
20449X401 COMPASS GROUP PLC-SP	3,376	3,309
21036P108 CONSTELLATION BRANDS
22822V101 CROWN CASTLE INC
278865100 ECOLAB INC
29414B104 EPAM SYSTEMS INC	4,155	2,676
30051E104 EVOLUTION AB ADR SED	6,697	4,657
51809L109 LASERTEC CORP - ADR
52989T102 LI NING CO LTD-UNSPO
571748102 MARSH & MCLENNAN COM
59410T106 MICHELIN (CGDE) UNSP
714264306 PERNOD RICARD SA - S
L7579L106 PERIMETER SOLUTIONS
046353108 ASTRAZENECA PLC SPON	4,447	4,445
049468101 ATLASSIAN CORP CL A	7,923	7,136
049560105 ATMOS ENERGY CORP
058498106 BALL CORPORATION
09260D107 BLACKSTONE INC
11271J107 BROOKFIELD CORP SEDO
113004105 BROOKFIELD ASSET MGM
194014502 ENOVIS CORP
29605J106 ESAB CORP-W/I
45104G104 ICICI BANK LTD SPON	4,077	4,363
58933Y105 MERCK & CO INC
670100205 NOVO NORDISK A S ADR	4,536	8,897
80687P106 SCHNEIDER ELECTRIC S	2,645	3,460
871829107 SYSCO CORP
902973304 US BANCORP DEL COM N
94106B101 WASTE CONNECTIONS IN	3,376	3,732
98389B100 XCEL ENERGY INC
G3421J106 FERGUSON PLC SEDOL B	3,870	5,213
G5494J103 LINDE PLC SEDOL BZ12
N07045102 ASM INTERNATIONAL N	3,175	5,192
00762U200 ADVANTEST CORP- SPON	3,952	3,375
136385101 CANADIAN NATURAL RES	3,150	3,210
13646K108 CANADIAN PACIFIC KAN	5,593	8,143
361ESC049 GCI LIBERTY INC CLAS
502117203 L OREAL CO UNSPONSOR	4,002	4,275
58733R102 MERCADOLIBRE INC	5,737	6,286
786584102 SAFRAN SA UNSPON ADR	4,687	4,678
884903808 THOMSON REUTERS CORP	2,962	3,802
G54950103 NEW LINDE PLC SEDOL	3,341	4,107
H42097107 UBS GROUP AG SEDOL B	3,748	3,708

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
315911750 FIDELITY 500 INDEX F
317609295 SEAFARER OVERSEAS GR	AT COST	62,580	70,905
464287507 ISHARES CORE S&P MID
464287804 ISHARES CORE S&P SMA
552746364 MFS EMERGING MKTS DE	AT COST	47,499	39,615
592905749 METROPOLITAN WEST UN	AT COST	148	151
921937603 VANGUARD TOTAL BD MK
936793686 WASATCH INTL OPPORTU	AT COST	49,897	43,559
46090E103 INVESCO QQQ TRUST ET
09252M883 BLACKROCK TOTAL RETU
74440Y884 PGIM HIGH YIELD FUND	AT COST	45,302	38,994
81369Y860 REAL ESTATE SELECT S
97717X669 WISDOMTREE U.S. QUAL	AT COST	140,003	147,518
413838566 OAKMARK INTL SM CAP-	AT COST	35,855	51,155
957663669 WESTERN ASSET CORE P	AT COST	325,993	267,658
00770X675 PZENA EMERG MKTS VAL	AT COST	48,051	56,591
464288877 ISHARES MSCI EAFE VA	AT COST	107,886	142,233
89154M702 TOUCHSTONE SANDS EM	AT COST	45,325	47,765
00769G535 LSV SMALL CAP FUND-I	AT COST	45,000	52,131
256210105 DODGE & COX INCOME F	AT COST	295,000	313,375
258620566 DOUBLELINE TOTAL RET	AT COST	150,000	158,993
464287200 ISHARES CORE S&P 500	AT COST	1,160,592	1,381,784
464287887 ISHARES S&P SMALL CA	AT COST	45,282	52,309
46429B267 ISHARES U S TREASURY	AT COST	181,008	189,780
46429B697 ISHARES MSCI USA MIN	AT COST	101,029	108,072
56167N712 NUANCE MID CAP VALUE	AT COST	62,000	63,868
56170L703 SPYGLASS GROWTH FUND	AT COST	62,000	87,522
89155T490 TOUCHSTONE MID CAP-R	AT COST	62,000	75,152
89609H704 TRIBUTARY SMALL COMP	AT COST	45,000	49,836
94987W794 ALLSPRING CORE BOND	AT COST	235,000	249,492

Description	Amount
RETURN OF CAPITAL ADJUSTMENT	643
2023 TRANSACTION POSTED IN 2024	4,709
2022 SALES POSTED IN 2023	579
COST BASIS ADJUSTMENT/PY ROC	31
ROUNDING ADJ FOR SALES AND TRANSACTIONS	46

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
MAP MANAGEMENT FEES	1,476	1,476	0
LIABILITY INSURANCE FEES	1,047	0	1,047
ADR SERVICE FEES	47	47	0
CLASS ACTION FILING FEES	16	16	0

Category	Amount	Net Investment Income
FOREIGN TAXES	393	393
FEDERAL ESTIMATES - PRINCIPAL	561	0
FOREIGN TAXES ON QUALIFIED FOR	455	455
FOREIGN TAXES ON NONQUALIFIED	163	163