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
Ortega Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

65-0014714

B Telephone number (see instructions)

(800) 839-1754

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

$41,619,491J 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)	0
2	Check .............
3	Interest on savings and temporary cash investments	52,863		52,863
4	Dividends and interest from securities...	808,535		808,535
5a	Gross rents............	205,590		205,590
b	Net rental income or (loss) 186,896
6a	Net gain or (loss) from sale of assets not on line 10		1,181,550
b	Gross sales price for all assets on line 6a 14,611,744
7	Capital gain net income (from Part IV, line 2)...			1,181,550
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).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	13,781	13,781
12	Total. Add lines 1 through 11........	2,262,319		2,262,319
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	630	0	0	630
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	172,382	172,382
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	50,185	34,285
19	Depreciation (attach schedule) and depletion...				0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	37,035	12,035		25,000
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	260,232		218,702	0	25,630
25	Contributions, gifts, grants paid.......	2,110,500				2,110,500
26	Total expenses and disbursements. Add lines 24 and 25	2,370,732		218,702	0	2,136,130
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-108,413
b	Net investment income (if negative, enter -0-)			2,043,617
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	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.............
	2	Savings and temporary cash investments.........	1,812,396	2,198,572	2,198,572
	3	Accounts receivable 2,821
		Less: allowance for doubtful accounts	27,270	2,821	2,821
	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) 230,000
		Less: allowance for doubtful accounts	290,000	List of Attached Documents: // Content 230,000	230,000
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	9,077,527	List of Attached Documents: // Content 9,717,038	9,799,525
	b	Investments—corporate stock (attach schedule).......	19,072,367	List of Attached Documents: // Content 18,063,547	21,430,013
	c	Investments—corporate bonds (attach schedule).......	4,002,751	List of Attached Documents: // Content 3,961,920	4,094,560
	11	Investments—land, buildings, and equipment: basis 4,056,864
		Less: accumulated depreciation (attach schedule)	4,056,864	List of Attached Documents: // Content 4,056,864	3,864,000
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	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)	38,339,175	38,230,762	41,619,491
	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	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........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	38,339,175	38,230,762
	29	Total net assets or fund balances (see instructions).....	38,339,175	38,230,762
	30	Total liabilities and net assets/fund balances (see instructions).	38,339,175	38,230,762

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

38,339,175

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

-108,413

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

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

38,230,762

Decreases not included in line 2 (itemize) right arrow

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

38,230,762

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	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	14,611,744	13,430,194	1,181,550
b
c
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			1,181,550
b
c
d
e

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	1,181,550
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	28,406
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
3	Add lines 1 and 2...........................	3	28,406
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	28,406
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	25,600
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	2,900
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	28,500
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	43
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	51
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax51	Refunded	11

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 Click to see attachment

List of Attached Documents:

// Content

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

Yes

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

Yes

Website address right arrow

The books are in care of right arrow

Foundation Source Telephone no. right arrow

(800) 839-1754

Located at right arrow

501 Silverside Road Suite 123WilmingtonDE ZIP+4 right arrow

198091377

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)

Yes

(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
Maria Elena Wollberg	Trustee 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	0	0	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










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

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
Arazoza Group Merrill Lynch	Investment MGMT	172,382
355 Alhambra Circle Penthouse CORAL GABLES,FL331344527	Investment MGMT	172,382

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

34,432,042

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

2,134,644

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

4,094,000

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

40,660,686

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

40,660,686

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

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

609,910

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

40,050,776

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

2,002,539

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

2,002,539

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

28,406

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

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

28,406

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

1,974,133

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

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

1,974,133

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

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

1,974,133

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 ..........

2,136,130

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. .......

2,136,130

Form 990-PF (2023)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7				1,974,133
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......			2,001,888
b Total for prior years:2021, 2020, 2019
3 Excess distributions carryover, if any, to 2022:
a From 2018......
b From 2019......
c From 2020......
d From 2021......
e From 2022......
f Total of lines 3a through e ........
4Qualifying distributions for 2023 from Part
XI, line 4: $ 2,136,130
a Applied to 2022, but not more than line 2a			2,001,888
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2023 distributable amount.....				134,242
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 ..........
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 ...........
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........				1,839,891
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) ...
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....
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).)

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.

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 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)

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
J Gonzalez FLORIDA INTERNATIONAL UNIVERSITY 11200 SW 8TH ST PC-120 MIAMI,FL33199	NONE	I	Scholarship Grant	10,500
THE MIAMI FOUNDATION INC 40 NW 3RD ST STE 305 MIAMI,FL33128	N/A	PC	General & Unrestricted	2,100,000
Total ................................. 3a				2,110,500

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 ...........			14	52,863
4 Dividends and interest from securities ....			14	808,535
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	186,896
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	1,181,550
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aINTEREST INCOME FROM NOTE RECEIVABLE			14	13,781
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				2,243,625

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

2,243,625

(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

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 DepreciationSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included
LAND - 1660 & 1690	2016-07-06	3,426,864		L				0
LAND - 6222 CLARCO	2009-09-19	630,000		L				0

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC NOTE CALL MAKE WHOL	275,886	283,898
AMGEN INC NOTE - 5.250% - 03/0	163,159	169,404
BANK NOVA SCOTIA B CNOTE CALL	219,105	229,811
BANK OF MONTREAL - 2.500% - 06	274,834	281,759
CAPITAL ONE FINL CORP - 6.312%	160,128	167,447
COMCAST CORP - 4.800% - 05/15/	158,901	170,404
ENERGY TRANSFER OPERATING LP -	132,488	143,254
GOLDMAN SACHS GROUP INC - 3.85	162,026	168,286
JPMORGAN CHASE - 2.595% - 02/2	272,335	276,028
META PLATFORMS INC - 4.950% -	169,145	168,614
MORGAN STANLEY - 4.000% - 07/2	275,647	278,962
PARKER-HANNIFIN CORP NOTE - 4.	170,380	176,573
SHIRE ACQUISITIONS - 3.200% -	109,565	113,538
TRUIST FINL CORP - 1.200% - 08	416,686	431,765
UNIFORM MBS - 3.000% - 04/01/2	14,892	15,171
UNITEDHEALTH GROUP - 4.500% -	138,960	141,341
US TREASURY NOTE - 1.250% - 05	576,499	598,206
WELLS FARGO - 4.300% - 07/22/2	271,284	280,099

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	55,349	71,596
ACCENTURE PLC	59,384	77,902
ADVANCED MICRO DEVICES INC	122,179	144,167
AKAMAI TECH COM STK	23,533	31,955
ALBANY INTERNATIONAL CORP	16,828	19,448
ALBEMARLE CP	45,275	23,117
ALLEGION PLC	139,938	158,236
ALLSTATE CORP	36,810	52,073
ALPHABET INC CL A	42,738	187,464
ALPHABET INC CL C	45,124	140,930
AMAZON COM	274,891	356,754
AMER INTERNATIONAL GROUP INC	78,321	175,066
AMERICAN ELECTRIC POWER INC	79,753	76,672
AMERICAN EXPRESS CO	77,508	79,807
ANSYS INC	21,393	33,022
APPLE INC	176,637	360,800
APPLIED MATERIALS INC	50,642	119,770
APTIV PLC	90,284	87,298
ARCHROCK INC	15,338	33,695
ARROW ELECTRONICS INC	21,692	27,017
ASML HOLDING NV NY REG SHS	117,867	152,141
ASSURANT INC	30,144	38,247
ASTRAZENECA	100,927	125,540
AT&T, INC	55,047	48,696
AVANTOR HOLDINGS INC	128,924	79,631
AXALTA COATING SYSTEMS LTD	64,640	86,352
B3 S.A	78,401	97,661
BAE SYSTEMS PLC	45,457	50,070
BAKER HUGHES COMPANY	91,778	108,966
BANCO BILBAO ARG SA	79,497	91,373
BAXTER INTERNATIONAL INC	191,413	160,052
BEIERSDORF AG ADR EACH REPR 0.	202,092	259,361
BERKSHIRE HATHAWAY INC. CLASS	89,929	173,337
BIO RAD LABS INC CL A	27,766	20,665
BORG WARNER INC	16,379	19,610
BOSTON PPTYS INC	17,168	16,630
BOX INC	23,476	22,255
BP PLC SPONSORED ADR	211,233	246,986
BRITISH AMERICAN TOBACCO PLC	127,990	101,519
CABOT CP	19,764	24,299
CADENCE DESIGN SYSTEMS INC	61,872	70,271
CANADIAN NATL RAILWAY CO	210,240	227,893
CANADIAN PACIFIC RAILWAY LTD	64,617	66,964
CARDINAL HEALTH INC	94,979	136,382
CARLYLE GROUP	38,577	48,706
CARRIER GLOBAL	41,779	49,062
CATERPILLAR INC	66,952	96,980
CBRE GROUP	25,431	38,074
CENCORA INC	34,447	49,702
CENTENE CORP	20,946	19,295
CF INDUSTRIES HOLDINGS, INC	49,600	38,160
CHARLES RIV LABORATORIES INTL	28,221	32,150
CHARLES SCHWAB CORP	29,857	28,208
CHART INDUSTRIES, INC	37,219	39,127
CIENA CORP	59,774	58,153
CIGNA CORPORATION	69,052	96,423
CIRRUS LOGIC INC	19,852	22,877
CISCO SYSTEMS INC	139,762	155,551
CITIGROUP INC	236,525	241,305
CITIZENS FINANCIAL GROUP, INC	111,969	99,022
COGNIZANT TECHNOLOGY SOLUTIONS	223,972	282,935
COMCAST CORP	268,152	302,127
CONMED CORPORATION	19,245	23,983
CONOCOPHILLIPS	102,921	165,400
CONSTELLATION BRANDS INC	29,604	42,790
COPT DEFENSE PROPERTIES	16,282	17,198
CORTEVA INC	62,880	104,370
CRACKER BARREL OLD COUNTRY STO	22,540	18,191
CROWN CASTLE INTL	35,728	42,390
D R HORTON	15,708	32,524
DARDEN RESTAURANTS INC	21,727	27,438
DBS GROUP HLDGS SPON ADR	25,175	34,125
DEUTSCHE TELE AG ADS	161,676	178,948
DIODES	20,044	22,787
DOLLAR GENERAL CORP	319,040	228,940
DOLLAR TREE INC	56,881	85,230
DUN & BRADSTREET CORP	40,486	37,990
EASTMAN CHEMICAL CO	23,023	25,778
ELEVANCE HEALTH INC	127,914	204,657
ESSILOR INTL ADR	58,508	67,630
EXELON CORPORATION	55,044	47,532
FERRARI NV	63,414	70,393
FIDELITY NATIONAL FINANCIAL IN	133,572	177,805
FIDELITY NATIONAL INFORMATION	192,457	131,613
FIRST CITIZENS BANCSHARES INC	112,718	201,494
FIRSTCASH HOLDINGS INC	15,963	22,220
FORMFACTOR INC.	15,492	24,025
FORTIVE CORPORATION	109,669	124,214
FORTREA HOLDINGS INC	54,401	62,401
FOX CORP CL A	52,677	53,376
FREEPORT-MCMORAN COPPER & GOLD	60,056	68,325
GALLAGHER ARTHUR J & CO	22,814	49,249
GATX CORP INC	27,704	36,547
GENERAL MOTORS	140,886	162,322
GOLDMAN SACHS GROUP	71,016	86,412
HEINEKEN N V S ADR	79,620	78,203
HEXCEL CP DELAWARE	23,422	31,270
HOLOGIC, INC	28,974	30,795
HOULIHAN LOKEY INC	24,076	36,453
HUMANA INC	125,762	137,801
HUNTINGTON INGALLS INDUSTRIES	22,124	24,925
INFINEON TECH ADS	64,670	68,634
INSPERITY INC	33,750	32,704
INT'L FLAVORS & FRAGRANCES INC	44,566	46,072
INTERCONTINENTAL EXCHANGE, INC	240,898	282,032
INTESA SANPAOLO SPA	91,944	123,639
JP MORGAN CHASE	149,675	261,784
KEYCORP	19,243	16,488
KON KPN NV SPON ADR REP 1 ORD	51,372	48,998
KONINKLIJKE PHILIPS ELECTRONIC	112,416	99,083
KRAFT HEINZ CO	198,893	191,002
L'AIR LIQUIDE ADR OTC	101,995	128,808
L3HARRIS TECHNOLOGIES	188,908	189,979
LABORATORY CORP AMER HLDGS	166,118	181,150
LAS VEGAS SANDS CORP	69,103	61,168
LASERTEC ADR	57,906	95,819
LEAR CORP	34,498	37,279
LEIDOS HOLDINGS INC	152,916	176,756
LPL FINANCIAL HOLDINGS INC	71,675	76,025
LVMH MOET HENN UNSP	45,257	53,446
M&T BANK CORP	40,028	35,778
MARVELL TECHNOLOGY, INC	75,816	99,572
MASTERCARD INC	157,527	169,324
MEDTRONIC PLC	376,456	335,451
META PLATFORMS INC	82,315	188,661
MICRON TECHNOLOGY	203,945	258,666
MICROSOFT CORP	345,649	820,894
MONDELEZ INTERNATIONAL INC	168,683	182,886
MONOLITHIC POWER SYSTEMS, INC	25,180	40,370
MONSTER BEVERAGE CORP	59,549	76,852
MOOG INC CL A	17,716	34,313
MTU AERO ENGINES	68,140	67,355
MYRIAD GENETICS, INC	19,124	17,819
NESTLE S.A	77,779	75,044
NEWELL RUBBERMAID INC	62,745	27,264
NOVO NORDISK A S	276,380	443,282
ON SEMICONDUCTOR	34,107	42,099
ORACLE CORP	64,258	56,405
OTIS WORLDWIDE CORP	115,314	139,931
PAPA JOHNS INTL INC	30,753	28,891
PAYCHEX	59,743	63,605
PENN NATIONAL GAMING	23,965	22,481
PG & E CORP	54,395	59,174
PHILIP MORRIS INTL	63,306	67,644
PPG INDUSTRIES INC	37,504	40,229
PROGRESSIVE CORP OHIO	48,542	75,817
PRUDENTIAL PLC SC	97,406	91,753
PT BANK RAKYAT ADR	25,070	29,184
PUBLIC SVC ENTERPRISE GROUP IN	44,154	48,675
PUMA SE UNSPONSORED ADR	70,823	61,999
QIAGEN NV	21,101	20,412
RALPH LAUREN CORP	34,335	44,702
RAYMOND JAMES FINANCIAL INC	64,581	102,023
RAYTHEON TECHNOLOGIES CORP	93,979	107,026
RECRUIT HOLDINGS CO	154,021	167,084
REINSURANCE GROUP AMER INC	79,087	108,716
RELX PLC	44,604	66,748
REMY COINTREAU	64,177	65,889
REPUBLIC SVCS INC	71,846	81,136
ROGERS COMM CL B	47,427	45,172
ROSS STORES, INC	124,372	186,965
RYDER SYSTEM	22,225	32,102
SANOFI-AVENTIS SPONSORED ADR	354,239	359,249
SBA COMMUNICATIONS CORP	31,258	29,428
SEALED AIR CORP	147,116	107,186
SEMPRA ENERGY COM	63,983	67,556
SHELL ADR EACH REPRESENTING 2	316,454	341,633
SKECHERS U S A INC CL A	54,874	67,078
SMITH & NEPHEW PLC ADR	63,942	57,506
SMITH A O CORP DEL COM	24,493	38,005
SNAP ON INC	24,777	33,794
SONOCO PRODUCTS COMPANY	28,027	26,147
SONY GROUP CORP	467,823	485,948
SPIRIT AEROSYSTEMS HOLDINGS CL	22,244	27,394
SS&C TECHNOLOGIES INC	172,278	165,364
STANDARD CHARTERED	90,181	100,759
STERICYCLE INC	19,117	21,311
STMICROELECTRONICS	52,422	53,840
SUNCOR ENERGY INC	171,551	164,109
SYNCHRONY FINANCIAL	30,831	28,795
TAIWAN SEMICONDUCTOR MFG CO LT	177,496	187,928
TE CONNECTIVITY LTD	36,979	39,059
TELEDYNE TECH INC	31,085	38,827
TELUS CORP	57,841	56,394
TENET HEALTHCARE CORP	58,254	78,668
THERMO FISHER SCIENTIFIC INC	198,000	196,923
TKO GROUP HOLDINGS, INC	47,841	63,551
UBS AG	60,332	90,877
UNILEVER PLC AMER	238,158	217,530
UNION PACIFIC	111,986	141,477
UNITED PARCEL SERVICE	65,500	54,559
UNITEDHEALTH GROUP INC	122,636	209,535
VEEVA SYSTEMS INC	88,103	73,158
VERIZON COMMUNICATIONS	205,818	187,633
VESTAS WIND SYS UNSP/ADR	50,133	75,601
VISA INC	120,707	145,796
VOYA FINANCIAL INC	61,076	65,810
WAL-MART DE MEX V SP/ADR	44,956	52,606
WEBSTER FINL CORP	21,794	23,147
WEC ENERGY GROUP, INC	13,965	12,626
WELLS FARGO & CO	239,812	281,785
WILLIAMS COS	157,388	184,251
WILLIS TOWERS WATSON	72,959	77,908
WOODWARD INC	19,773	31,038
XP INC CL A	36,790	60,717
YUM CHINA HOLDINGS INC	88,896	65,512
ZEBRA TECHNOLOGIES CORP	101,947	110,425
ZIMMER BIOMET HOLDINGS	86,179	79,957
ZURICH INS GROU ADR	49,056	54,063

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

Ortega Foundation

EIN:

65-0014714

US Government Securities - End of Year Book Value:

9,717,038

US Government Securities - End of Year Fair Market Value:

9,799,525

State & Local Government Securities - End of Year Book Value:

State & Local Government Securities - End of Year Fair Market Value:

- TIN:

TY 2023 InvestmentsLandSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Category/ Item	Cost/Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND - 1660 & 1690	3,426,864		3,426,864	3,426,864
LAND - 6222 CLARCO	630,000		630,000	630,000

- TIN:

TY 2023 LegalFeesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
General Consultations	630			630

- TIN:

TY 2023 OtherExpensesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	25,000		25,000
Bank Charges	4,970	4,970
Property insurance	2,565	2,565
Property Maintenance	4,500	4,500

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Interest Income from Notes	13,781	13,781

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 OtherNotesLoansRcvblLongSch

Name:

Ortega Foundation

EIN:

65-0014714

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
MIYAKO USA INC		850,000	230,000	2012-12	2027-02	MONTHLY PRINCIPAL & INTEREST	525 %	INVENTORY & EQUIPMENT	INVESTMENT	N/A 0

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	172,382	172,382

- TIN:

TY 2023 TaxesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2023	15,900
Foreign Tax Paid	22,655	22,655
Property Taxes	11,630	11,630