Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo 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
KatherineJames Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PMB 150 425 Carr 693
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Dorado, PR006464817
A Employer identification number

66-0888427
B Telephone number (see instructions)

(702) 966-8041
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$66,886,276J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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 instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,191,321 2,191,321  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 2,795,875
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,734 5,734  
12 Total. Add lines 1 through 11........ 2,197,055 4,992,930  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 0      
b Accounting fees (attach schedule)....... 0      
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
240,000 108,000   132,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
5 2   3
19 Depreciation (attach schedule) and depletion... 0    
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
373,880 372,539   1,341
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 613,885 480,541   133,344
25 Contributions, gifts, grants paid....... 2,700,699 2,700,699
26 Total expenses and disbursements. Add lines 24 and 25 3,314,584 480,541   2,834,043
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,117,529
b Net investment income (if negative, enter -0-) 4,512,389
c Adjusted net income (if negative, enter -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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,678,052 872,899 872,899
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....   0  
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow     0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........   121,681 121,681
10a Investments—U.S. and state government obligations (attach schedule) 0    
b Investments—corporate stock (attach schedule)....... 32,182,274 Click to see attachment
List of Attached Documents:
// Content
38,788,576 		41,268,415
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 27,045,298 Click to see attachment
List of Attached Documents:
// Content
24,114,329 		24,623,281
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
15 Other assets (describe right arrow) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 60,905,624 63,897,485 66,886,276
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
511,899 		Click to see attachment
List of Attached Documents:
// Content
1,825,414
23 Total liabilities (add lines 17 through 22)......... 511,899 1,825,414
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 60,393,725 62,072,071
29 Total net assets or fund balances (see instructions)..... 60,393,725 62,072,071
30 Total liabilities and net assets/fund balances (see instructions). 60,905,624 63,897,485
Part III
Analysis of Changes in Net Assets or Fund Balances
1
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) ...............
1
60,393,725
2
Enter amount from Part I, line 27a .....................
2
-1,117,529
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
2,795,875
4
Add lines 1, 2, and 3 ..........................
4
62,072,071
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
62,072,071
Form 990-PF (2023)
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 Various Publicly Traded Stocks P 2022-01-02 2023-11-02
b        
c From K-1 P 2022-01-02 2023-11-02
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 26,385,446 0 23,617,715 2,767,731
b 0 0 0 0
c 36,821 0 8,677 28,144
d
e
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 0 0 0 2,767,731
b 0 0 0 0
c 0 0 0 28,144
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,795,875
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 ................... 		Bracket 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 right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 62,722
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 62,722
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 62,722
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 107,485
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Original Return Overpayment : -107485 7 107,485
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 44,763
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow44,763 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
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? ....................
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.................................
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 1120-POL for this year?.....................
1c
 
No
d
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$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
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?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
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:
round bullet By language in the governing instrument, or
round bullet 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? ................
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..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowDE
b
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 .
8b
Yes
 
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 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
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 .............
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.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowJeremy McNeil Telephone no.right arrow (702) 966-8041

Located atright arrowPMB 150 425 Carr 693 Suite 1DoradoPR ZIP+4right arrow00646
15
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
15
 
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)
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
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? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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)
 
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.) ...............
1a(6)
 
No
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 ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
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.) ..............
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.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
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.) .....................
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
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
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))? ..........
5a(1)
 
No
(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)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
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 ........................
5a(4)
 
No
(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)
 
No
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 ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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? .................
5d
 
 
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? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
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? .....
7b
 
 
8
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? .........................
8
 
No
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
Jeremy McNeil President
10.00 		0 0 0
PMB 150 425 Carr 693 Suite 1
Dorado,PR00646
Leroy Sisneros Director
0.05 		0 0 0
PMB 150 425 Carr 693 Suite 1
Dorado,PR00646
Mark D Winkelman Director
0.05 		0 0 0
PMB 150 425 Carr 693 Suite 1
Dorado,PR00646
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...................right arrow 0
Form 990-PF (2023)
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
Huffaker Management Company General Management 240,000
PO Box 18918
Reno,NV89511
Total number of others receiving over $50,000 for professional services.............right arrow0
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)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
65,160,398
b
Average of monthly cash balances.......................
1b
0
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
65,160,398
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
65,160,398
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
977,406
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
64,182,992
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,209,150
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.)
1
Minimum investment return from Part IX, line 6..................
1
3,209,150
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
62,722
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
62,722
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,146,428
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
3,146,428
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,146,428
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
2,834,043
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,834,043
Form 990-PF (2023)
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 3,146,428
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 2,684,650
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 2,834,043
a Applied to 2022, but not more than line 2a 2,684,650
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 149,393
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023.    
(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 0
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...... 		 
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 .......... 		2,997,035
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) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
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 or
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
         
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).)
None
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.
None
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
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)
aPaid during the year

Bishop Manogue Catholic High School

110 Bishop Manogue Drive
Reno,NV89511 		  PC Ed Tech 10,000

Catholic Professional & Business Group

PO Box 6754
Reno,NV89513 		  PC Unrestricted 4,999

Hogar Mis Primeros Pasos Inc

PMB 94 Calle Estacion B-1
Vega Alta,PR00692 		  PC Unrestricted 50,000

ArtsVentura

PO Box 1130
Ventura,CA93002 		  PC Mural Renovation 19,000

Nevada Right to Life Foundatin Inc

PO Box 18964
Reno,NV89511 		  PC Unrestricted 150,000

Boys & Girls Club of Puerto Rico

PO Box 79526
Carolina,PR00984 		  PC Unrestricted 50,000

Missionaries of Charity Inc

PO Box 32177
Ponce,PR00732 		  PC Unrestricted 50,000

Santa Clara Parish

323 E St
Oxnard,CA93030 		  PC Unrestricted 6,700

Hillsdale College

33 East College St
Hillsdale,MI49242 		  PC Imprimis Publication 250,000

John Paul II Medical Research Institute

2500 Crosspark Rd Suite W230
Coralville,IA52241 		  PC Unrestricted 100,000

TASIS Dorado Educational Foundation Inc

11 Carr 693
Dorado,PR00646 		  PC Wellness CenterBee Project 215,000

The Jane Stern Dorado Community Library

PO Box 609
Dorado,PR00646 		  PC Lego ClubSatellite ProgramComputer Lab 60,000

Life Legal Defense Foundation

PO Box 2105
Napa,CA94558 		  PC Unrestricted 200,000

Eternal Word Television Network Inc

5817 Old Leeds Road
Irondale,AL35210 		  PC Unrestricted 150,000

Texas Alliance for Life Trust Fund

8000 Centre Park Drive Suite 380
Austin,TX78754 		  PC Operations 35,000

Vimenti LLC

PO Box 31341
San Juan,PR00929 		  PC Unrestricted 50,000

Live Action

2200 Wilson Blvd Suite 102 PMB 111
Arlington,VA22201 		  PC Educational Videos 100,000

Museo de Arte de Puerto Rico Inc

PO Box 41209
Ponce,PR00940 		  PC Unrestricted 20,000

Capitol Resource Institute

520 Capitol Mall Suite B1
Sacramento,CA95814 		  PC Nevada Family Alliance 50,000

Second Amendment Foundation

12500 NE 10 Pl
Bellevue,WA98005 		  PC Programs 150,000

Arte Fits Foundation Inc

120 Carr 693
Dorado,PR00646 		  PC Unrestricted 50,000

America Developing Smiles PR Inc

URB Ind Victor Fernandez Calle 3 34
San Juan,PR00926 		  PC Unrestricted 50,000

Thomas More Society

309 W Washington St Suite 1250
Chicago,IL60606 		  PC Unrestricted 150,000

Parroquia San Antonio de Padua

PO Box 602
Dorado,PR00646 		  PC Building Repairs 200,000

Culturarte De Puerto Rico

PO Box 365051
San Juan,PR00936 		  PC Unrestricted 30,000

Diocese of Reno

290 S Arlington Ave
Reno,NV89501 		  PC Our Lady of Wisdom Building 200,000

St Peter Canisius Catholic Parish Corporation

225 E Fifth Ave
Sun Valley,NV89433 		  PC Building 100,000


      0


      0

Thomas Aquinas College

10000 Ojai Rd
Santa Paula,CA93060 		  PC Building 150,000


      0

Awaken Inc

PO Box 40635
Reno,NV89504 		  PC Unrestricted 50,000
Total .................................right arrow 3a 2,700,699
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
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
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 2,191,321  
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 ............ 		         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOther Partnership Income 		525990 8,058 14 5,734  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 8,058 2,197,055  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,205,113
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		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)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
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
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
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
2a
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? ...........
b
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.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  
Part VI Line 7 -Original Return Overpayment: -107,485


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 InvestmentsCorpStockSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Name of Stock End of Year Book Value End of Year Fair Market Value
79600 Sh. Berkshire Hathaway Class B 27,297,344 28,390,136
1012443.3103 Sh. New Mountain Finance Co. 11,491,232 12,878,279

TY 2023 InvestmentsOtherSchedule2
Name:
KatherineJames Foundation
EIN:
66-0888427
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Schwab Variable Share Price Money Fund   499,189 499,189
EJF Trust Preferred Offshore Fund II LP   353,791 64,132
The K Fund II LP   11,016,270 11,016,270
Highvista (Offshore) Ltd.   5,000,000 6,147,755
U-Haul Investors Club   5,379,769 5,379,769
Muzinich BDC   865,310 883,627
Bitcoin   1,000,000 632,539

TY 2023 OtherExpensesSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Dues and Subscriptions 2,212 995   1,217
Permits and Fees 225 101   124
Other Parnership Expenses 371,443 371,443    


TY 2023 OtherIncomeSchedule2
Name:
KatherineJames Foundation
EIN:
66-0888427
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Other Partnership Income 5,734 5,734  


TY 2023 OtherIncreasesSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Description Amount
Capital Gains 2,795,875


TY 2023 OtherLiabilitiesSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Description Beginning of Year - Book Value End of Year - Book Value
15 Call Option Contracts BRKB 1/19/2024 310 0 40,245
10 Call Option Contracts BRKB 6/16/2023 310 22,258 0
10 Call Option Contracts BRKB 6/16/2023 315 19,468 0
25 Call Option Contracts BRKB 1/20/2023 320 68,786 0
15 Call Option Contracts BRKB 6/16/2023 320 27,779 0
5 Call Option Contracts BRKB 3/17/2023 325 5,442 0
10 Call Option Contracts BRKB 6/16/2023 325 16,863 0
10 Call Option Contracts BRKB 3/17/2023 330 5,793 0
110 Call Option Contracts BRKB 1/19/2024 320 0 285,200
51 Call Option Contracts BRKB 1/19/2024 330 0 108,905
25 Call Option Contracts BRKB 6/21/2024 330 0 80,183
90 Call Option Contracts BRKB 1/19/2024 340 0 175,099
50 Call Option Contracts BRKB 6/21/2024 340 0 140,266
10 Call Option Contracts BRKB 1/17/2025 350 0 39,493
10 Call Option Contracts BRKB 1/19/2024 350 0 15,343
95 Call Option Contracts BRKB 6/21/2024 350 0 248,365
60 Call Option Contracts BRKB 3/15/2024 355 0 129,799
40 Call Option Contracts BRKB 6/21/2024 360 0 85,013
20 Call Option Contracts BRKB 9/20/2024 360 0 48,506
70 Call Option Contracts BRKB 6/21/2024 365 0 123,543
5 Call Option Contracts BRKB 1/20/2023 340 13,505 0
30 Call Option Contracts BRKB 3/17/2023 340 15,930 0
59 Call Option Contracts BRKB 3/17/2023 345 30,930 0
29 Call Option Contracts BRKB 1/20/2023 350 77,631 0
42 Call Option Contracts BRKB 3/17/2023 350 20,632 0
85 Call Option Contracts BRKB 6/16/2023 350 102,692 0
20 Call Option Contracts BRKB 1/20/2023 360 53,724 0
50 Call Option Contracts BRKB 6/16/2023 360 30,466 0
10 Call Option Contracts BRKB 1/17/2025 370 0 32,193
90 Call Option Contracts BRKB 6/21/2024 370 0 179,459
10 Call Option Contracts BRKB 3/15/2024 375 0 15,183
10 Call Option Contracts BRKB 1/17/2025 380 0 38,793
10 Call Option Contracts BRKB 3/15/2024 380 0 15,813
10 Call Option Contracts BRKB 6/21/2024 380 0 24,013


TY 2023 OtherProfessionalFeesSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Huffaker Management Company General Management 240,000      


TY 2023 TaxesSchedule
Name:
KatherineJames Foundation
EIN:
66-0888427
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Other Taxes 5 2   3