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
GENERATION FUND INC
C/O DINSE PC
Number and street (or P.O. box number if mail is not delivered to street address)209 BATTERY STREET PO BOX 988
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BURLINGTON, VT05402
A Employer identification number

27-2993973
B Telephone number (see instructions)

(802) 864-5751
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$41,670,767J Accounting method:
modified cash
(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 52,137 52,137  
4 Dividends and interest from securities... 373,748 373,748  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 560,629
b Gross sales price for all assets on line 6a 6,101,224
7 Capital gain net income (from Part IV, line 2)... 562,113
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)....... Click to see attachment
List of Attached Documents:
// Content
41,860 40,328  
12 Total. Add lines 1 through 11........ 1,028,374 1,028,326  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 45,000 13,500   31,500
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
32,931 0   32,931
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
20,415 1,140   17,700
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
112,642 112,642   0
17 Interest............... 150 150   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
7,115 6,815   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 6,482 0   6,482
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
133,728 131,388   2,340
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 358,463 265,635   90,953
25 Contributions, gifts, grants paid....... 6,938,789 6,938,789
26 Total expenses and disbursements. Add lines 24 and 25 7,297,252 265,635   7,029,742
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -6,268,878
b Net investment income (if negative, enter -0-) 762,691
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......... 511,005 720,154 720,154
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).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
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)....... 5,788,273 Click to see attachment
List of Attached Documents:
// Content
5,493,512 		5,493,512
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 35,656,108 Click to see attachment
List of Attached Documents:
// Content
35,455,396 		35,455,396
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
1,705 		Click to see attachment
List of Attached Documents:
// Content
1,705
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 41,955,386 41,670,767 41,670,767
Liabilities 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 right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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........... 41,955,386 41,670,767
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    
29 Total net assets or fund balances (see instructions)..... 41,955,386 41,670,767
30 Total liabilities and net assets/fund balances (see instructions). 41,955,386 41,670,767
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
41,955,386
2
Enter amount from Part I, line 27a .....................
2
-6,268,878
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
5,984,259
4
Add lines 1, 2, and 3 ..........................
4
41,670,767
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
41,670,767
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 SALE OF PUBLICLY TRADED SECURITIES P    
b 753.66 SH. GENERATION IM GLOBAL EQUITY A SHARES D    
c THROUGH JMF LIQUIDATING CO. LLC K-1 D    
d THROUGH LEGACY VENTURE IX, LLC K-1 P    
e THROUGH HIGHCLERE INT'L K-1 D    
THROUGH LEGACY VENTURE XI, LLC K-1 P    
CAPITAL GAINS DIVIDENDS P    
(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 5,490,696   5,106,353 384,343
b 500,000   160,870 339,130
c       -100,882
d       -2,458
e       -169,995
      1,447
110,528     110,528
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       384,343
b       339,130
c       -100,882
d       -2,458
e       -169,995
      1,447
      110,528
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 2 562,113
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 10,601
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 10,601
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 10,601
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 10,005
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 5,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 15,005
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
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 4,404
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow4,404 Refundedright arrow 11 0
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 arrowVT
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
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 arrowTHE FOUNDATION Telephone no.right arrow (802) 864-5751

Located atright arrow209 BATTERY STREET PO BOX 988BURLINGTONVT ZIP+4right arrow05402
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)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(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
 
No
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
AUSTIN HART CO DINSE PC PRESIDENT
2.00 		15,000 0 0
209 BATTERY ST PO BOX 988
BURLINGTON,VT05402
WALLACE TAPIA CO DINSE PC TREASURER
2.50 		15,000 0 0
209 BATTERY ST PO BOX 988
BURLINGTON,VT05402
PETER BROWN CO DINSE PC SECRETARY
1.00 		15,000 0 0
209 BATTERY ST PO BOX 988
BURLINGTON,VT05402
E RUSSELL PEACH IV CO DINSE PC ASSISTANT TREASURER
1.00 		0 0 0
209 BATTERY ST PO BOX 988
BURLINGTON,VT05402
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
NONE
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 arrow0
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
28,118,344
b
Average of monthly cash balances.......................
1b
1,141,017
c
Fair market value of all other assets (see instructions)................
1c
14,185,694
d
Total (add lines 1a, b, and c).........................
1d
43,445,055
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
0
3
Subtract line 2 from line 1d.........................
3
43,445,055
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
651,676
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
42,793,379
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,139,669
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
2,139,669
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
10,601
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
10,601
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,129,068
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,129,068
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,129,068
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
7,029,742
b
Program-related investments—total from Part VIII-B..................
1b
0
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
7,029,742
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 2,129,068
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......  
b From 2019......  
c From 2020......  
d From 2021...... 18,063
e From 2022...... 238,864
f Total of lines 3a through e ........ 256,927
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 7,029,742
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..... 2,129,068
e Remaining amount distributed out of corpus 4,900,674
5 Excess distributions carryover applied to 2023. 0 0
(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 5,157,601
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) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		5,157,601
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021.... 18,063
d Excess from 2022.... 238,864
e Excess from 2023.... 4,900,674
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).)
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
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

FIDELITY CHARITABLE GIFT FUND

BOX 77001
CINCINNATI,OH45277 		N/A PC CHARITABLE (UNRESTRICTED) 2,170,435

VANGUARD CHARITABLE

PO BOX 55766
BOSTON,MA02205 		N/A PC CHARITABLE (UNRESTRICTED) 2,718,354

NATIONAL PHILANTHROPIC TRUST

165 TOWNSHIP LINE RD SUITE 1200
JENKINTOWN,PA19046 		N/A PC CHARITABLE (UNRESTRICTED) 1,025,000

THE BOSTON FOUNDATION

75 ARLINGTON STREET 3RD FLOOR
BOSTON,MA02116 		N/A PC CHARITABLE (UNRESTRICTED) 1,025,000
Total .................................right arrow 3a 6,938,789
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 ........... 		    14 52,137  
4 Dividends and interest from securities ....     14 373,748  
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 .....     14 41,860  
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 -1,484 18 562,113  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aUNRELATED BUSINESS INCOME THROUGH K-1 		901101 1,532 01 -1,532  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 48 1,028,326 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,028,374
(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:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AUDIT AND TAX PREP 20,415 1,140   17,700
OTHER ACCOUNTING FEES 0 0   0

TY 2023 InvestmentsCorpStockSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Name of Stock End of Year Book Value End of Year Fair Market Value
MERCK & CO INC 6,735.0000 SHARES 734,250 734,250
ACCO BRANDS CORP 78,553.0000 SHARES 52,002 52,002
AMERICAN FINANCIAL GROUP INC/OH 220.0000 SHARES 26,156 26,156
AMERISAFE INC 250.0000 SHARES 11,695 11,695
ARCOSA INC 470.0000 SHARES 38,841 38,841
ATKORE INC 370.0000 SHARES 59,200 59,200
BARRETT BUSINESS SERVICES INC 430.0000 SHARES 49,794 49,794
BROOKLINE BANCORP INC 1,040.0000 SHARES 11,346 11,346
CHEESECAKE FACTORY INC 740.0000 SHARES 25,907 25,907
COLUMBIA BANKING SYSTEM INC 1,200.0000 SHARES 32,016 32,016
COLUMBUS MCKINNON CORP/NY 1,600.0000 SHARES 58,530 58,530
COMMUNITY HEALTHCARE TRUST INC 1,020.0000 SHARES 27,173 27,173
COMPASS DIVERSIFIED HOLDINGS 3,160.0000 SHARES 70,942 70,942
CUBESMART 520.0000 SHARES 24,102 24,102
DANA INC 1,380.0000 SHARES 20,162 20,162
DELEK US HOLDINGS INC 1,660.0000 SHARES 42,828 42,828
DIAMONDROCK HOSPITALITY CO 3,310.0000 SHARES 31,081 31,081
DUCOMMUN INC 970.0000 SHARES 50,498 50,498
EASTGROUP PROPERTIES INC 180.0000 SHARES 33,037 33,037
G-III APPAREL GROUP LTD 1,280.0000 SHARES 43,494 43,494
GENESCO INC 730.0000 SHARES 25,703 25,703
GLOBUS MEDICAL INC 650.0000 SHARES 34,639 34,639
GREENBRIER COS INC/THE 941.0000 SHARES 41,573 41,573
GROUP 1 AUTOMOTIVE INC 250.0000 SHARES 76,185 76,185
INDEPENDENT BANK GROUP INC 700.0000 SHARES 35,616 35,616
INSTEEL INDUSTRIES INC 1,140.0000 SHARES 43,651 43,651
JOHN B SANFILIPPO & SON INC 300.0000 SHARES 30,912 30,912
KOPPERS HOLDINGS INC 1,210.0000 SHARES 61,976 61,976
LANTHEUS HOLDINGS INC 450.0000 SHARES 27,900 27,900
MAGNOLIA OIL & GAS CORP 2,420.0000 SHARES 51,522 51,522
MALIBU BOATS INC CL A 190.0000 SHARES 10,416 10,416
MATADOR RESOURCES CO 1,150.0000 SHARES 65,389 65,389
MATERION CORP 250.0000 SHARES 32,533 32,533
MERCANTILE BANK CORP 1,380.0000 SHARES 55,724 55,724
MGP INGREDIENTS INC 340.0000 SHARES 33,497 33,497
MIMEDX GROUP INC 3,690.0000 SHARES 32,361 32,361
MKS INSTRUMENTS INC 530.0000 SHARES 54,521 54,521
MODEL N INC 600.0000 SHARES 16,158 16,158
NATIONAL STORAGE AFFILIATES TRUST 290.0000 SHARES 12,026 12,026
NEXSTAR MEDIA GROUP INC COMMON STOCK 330.0000 SHARES 51,728 51,728
OMNICELL INC COM 360.0000 SHARES 13,547 13,547
ONTO INNOVATION INC 290.0000 SHARES 44,341 44,341
OXFORD INDUSTRIES INC 267.0000 SHARES 26,700 26,700
PACIFIC PREMIER BANCORP INC 803.0000 SHARES 23,375 23,375
PAR PACIFIC HOLDINGS INC 1,400.0000 SHARES 50,918 50,918
PATRICK INDUSTRIES INC 470.0000 SHARES 47,165 47,165
PINNACLE FINANCIAL PARTNERS INC 620.0000 SHARES 54,076 54,076
PREFERRED BANK/LOS ANGELES 400.0000 SHARES 29,220 29,220
REINSURANCE GROUP OF AMERICA INC 290.0000 SHARES 46,916 46,916
RELIANCE STEEL & ALUMINUM CO 130.0000 SHARES 36,358 36,358
RLJ LODGING TRUST 2,820.0000 SHARES 33,050 33,050
SEACOAST BANKING CORP OF FLORIDA 1,120.0000 SHARES 31,875 31,875
SOUTHWEST GAS HOLDINGS INC 790.0000 SHARES 50,047 50,047
STAG INDUSTRIAL INC 850.0000 SHARES 33,371 33,371
STEVEN MADDEN LTD 610.0000 SHARES 25,620 25,620
STEWART INFORMATION SERVICES CORP 270.0000 SHARES 15,863 15,863
STOCK YARDS BANCORP INC 470.0000 SHARES 24,200 24,200
SUPER MICRO COMPUTER INC 109.0000 SHARES 30,984 30,984
TAYLOR MORRISON HOME CORP 1,200.0000 SHARES 64,020 64,020
TRICO BANCSHARES 610.0000 SHARES 26,212 26,212
UMH PROPERTIES INC 760.0000 SHARES 11,643 11,643
UNITED COMMUNITY BANKS INC/GA 620.0000 SHARES 18,141 18,141
VERITEX HOLDINGS INC 1,140.0000 SHARES 26,528 26,528
WSFS FINANCIAL CORP 710.0000 SHARES 32,610 32,610
3D SYSTEMS CORP 2,320.0000 SHARES 14,732 14,732
ADVANCED ENERGY INDUSTRIES INC 390.0000 SHARES 42,479 42,479
AEROVIRONMENT INC 400.0000 SHARES 50,416 50,416
AMBARELLA INC 695.0000 SHARES 42,597 42,597
ARRAY TECHNOLOGIES INC 1,370.0000 SHARES 23,016 23,016
BLOOM ENERGY CORP CL A 1,250.0000 SHARES 18,500 18,500
BOYD GAMING CORP 1,395.0000 SHARES 87,341 87,341
CAE INC 1,780.0000 SHARES 38,430 38,430
CANADA GOOSE HOLDINGS INC 1,050.0000 SHARES 12,443 12,443
CANADIAN PACIFIC RAILWAY LTD 520.0000 SHARES 41,111 41,111
CERENCE INC 980.0000 SHARES 19,267 19,267
COGNEX CORP 1,100.0000 SHARES 45,914 45,914
COHERENT CORP 1,366.0000 SHARES 59,462 59,462
COMMVAULT SYSTEMS INC 460.0000 SHARES 36,731 36,731
CYTOKINETICS INC 560.0000 SHARES 46,754 46,754
DIAMONDBACK ENERGY INC 155.0000 SHARES 24,037 24,037
DIGITAL REALTY TRUST INC 281.0000 SHARES 37,817 37,817
EDGIO INC 9,250.0000 SHARES 3,168 3,168
ESPERION THERAPEUTICS INC 460.0000 SHARES 1,375 1,375
EW SCRIPPS CO/THE CL A 700.0000 SHARES 5,593 5,593
FARO TECHNOLOGIES INC 650.0000 SHARES 14,645 14,645
FORMFACTOR INC 830.0000 SHARES 34,619 34,619
GOLAR LNG LTD 2,380.0000 SHARES 54,716 54,716
HELMERICH & PAYNE INC 486.0000 SHARES 17,603 17,603
HEXCEL CORP NEW 456.0000 SHARES 33,630 33,630
IAC INC 330.0000 SHARES 17,285 17,285
ICHOR HOLDINGS LTD 1,050.0000 SHARES 35,312 35,312
IMMUNOGEN INC 1,780.0000 SHARES 52,777 52,777
INTRA-CELLULAR THERAPIES INC 380.0000 SHARES 27,216 27,216
IONIS PHARMACEUTICALS INC 623.0000 SHARES 31,518 31,518
IRIDIUM COMMUNICATIONS INC 1,470.0000 SHARES 60,505 60,505
ITRON INC 700.0000 SHARES 52,857 52,857
LAM RESEARCH CORP 148.0000 SHARES 115,922 115,922
LAS VEGAS SANDS CORP 870.0000 SHARES 42,813 42,813
LEXICON PHARMACEUTICALS INC 3,840.0000 SHARES 5,875 5,875
LIBERTY LIVE GROUP 241.0000 SHARES 8,809 8,809
LIBERTY SIRIUSXM GROUP 964.0000 SHARES 27,705 27,705
LINDBLAD EXPEDITIONS HOLDINGS 1,340.0000 SHARES 15,102 15,102
LUMENTUM HOLDINGS INC 880.0000 SHARES 46,130 46,130
MACROGENICS INC 1,400.0000 SHARES 13,468 13,468
MADISON SQUARE GARDEN ENTERTAINMENT CORP 1.0000 SHARES 32 32
MADISON SQUARE GARDEN SPORTS CORP CL A 200.0000 SHARES 36,366 36,366
MANCHESTER UNITED PLC CL A 1,290.0000 SHARES 26,290 26,290
MATCH GROUP INC 550.0000 SHARES 20,075 20,075
MP MATERIALS CORP 680.0000 SHARES 13,498 13,498
NLIGHT INC 3,290.0000 SHARES 44,415 44,415
ONESPAWORLD HOLDINGS LTD 4,190.0000 SHARES 59,079 59,079
PLUG POWER INC 4,537.0000 SHARES 20,417 20,417
PROTHENA CORP PLC 260.0000 SHARES 9,448 9,448
PTC THERAPEUTICS INC 345.0000 SHARES 9,508 9,508
QORVO INC 690.0000 SHARES 77,701 77,701
RAYMOND JAMES FINANCIAL INC 500.0000 SHARES 55,750 55,750
REGENERON PHARMACEUTICALS INC 82.0000 SHARES 72,020 72,020
ROBERT HALF INTERNATIONAL INC 413.0000 SHARES 36,311 36,311
ROGERS CORP 270.0000 SHARES 35,659 35,659
ROYAL CARIBBEAN GROUP 560.0000 SHARES 72,514 72,514
SAGE THERAPEUTICS INC 300.0000 SHARES 6,501 6,501
SAREPTA THERAPEUTICS INC 190.0000 SHARES 18,322 18,322
SINCLAIR BROADCAST GROUP INC CL A 1,040.0000 SHARES 13,551 13,551
SPHERE ENTERTAINMENT CO 1.0000 SHARES 34 34
SPIRIT AEROSYSTEMS HOLDINGS INC 450.0000 SHARES 14,301 14,301
STRATASYS LTD 2,100.0000 SHARES 29,988 29,988
TEGNA INC 923.0000 SHARES 14,122 14,122
TELOS CORP 5,350.0000 SHARES 19,528 19,528
TENABLE HOLDINGS INC 640.0000 SHARES 29,478 29,478
TRIMBLE INC 967.0000 SHARES 51,444 51,444
TUTOR PERINI CORP 710.0000 SHARES 6,461 6,461
ULTRA CLEAN HOLDINGS INC 900.0000 SHARES 30,726 30,726
ULTRAGENYX PHARMACEUTICAL INC 200.0000 SHARES 9,564 9,564
UNIFI INC 696.0000 SHARES 4,635 4,635
UNITED PARKS & RESORTS INC 1,150.0000 SHARES 60,755 60,755
VIMEO INC 1,495.0000 SHARES 5,860 5,860
VISHAY INTERTECHNOLOGY INC 1,736.0000 SHARES 41,612 41,612
WARNER BROS DISCOVERY INC 2,143.0000 SHARES 24,387 24,387
WERNER ENTERPRISES INC 1,040.0000 SHARES 44,065 44,065
XYLEM INC 748.0000 SHARES 85,541 85,541

TY 2023 InvestmentsOtherSchedule2
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
JMF LIQUIDATING LLC FMV 47,692 47,692
LEGACY VENTURE IX, LLC FMV 3,525,289 3,525,289
LEGACY VENTURE XI, LLC FMV 174,099 174,099
9,172.729 SHARES OF GENERATION IM GLOBAL EQUITY FUND FMV 7,164,507 7,164,507
333.33 SHARES OF SUMMIT PARTNERS SUSTAINABLE OPPORTUNITIES L/S FUND LTD FMV 1,367,910 1,367,910
67,398.8969 SHARES OF HIGHCLERE INTERNATIONAL INVESTORS FMV 2,392,568 2,392,568
AMERICAN BEACON SHAPIRO EQUITY FUND CL Y 270,972.8670 SHARES FMV 3,576,842 3,576,842
ARTISAN INTERNATIONAL SMALL-MID FUND 29,339.9800 SHARES FMV 516,677 516,677
ARTISAN INTERNATIONAL VALUE FUND - INV 96,678.1090 SHARES FMV 4,431,725 4,431,725
BROWN ADVISORY SUSTAINABLE GROWTH FUND 59,693.3250 SHARES FMV 2,871,249 2,871,249
DELAWARE EMERGING MARKETS FUND 74,956.1140 SHARES FMV 1,460,145 1,460,145
RBC EMERGING MARKETS EQUITY FUND/US CL I 130,959.3170 SHARES FMV 1,636,991 1,636,991
VANGUARD S&P 500 ETF 9,512.0000 SHARES FMV 4,154,842 4,154,842
WCM FOCUSED INTERNATIONAL GROWTH 93,798.7810 SHARES FMV 2,134,860 2,134,860

TY 2023 LegalFeesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 32,931 0   32,931


TY 2023 OtherAssetsSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
RECEIVABLE FROM BROKER   1,705 1,705


TY 2023 OtherExpensesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER EXPENSES THROUGH K-1S 131,248 131,248   0
FILING FEES 140 140   0
INSURANCE 1,525 0   1,525
MEMBERSHIP DUES 815 0   815


TY 2023 OtherIncomeSchedule2
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
ROYALTIES 10,547 10,547 10,547
OTHER INVESTMENT INCOME 31,703 31,703 31,703
LOSS THROUGH K-1S -390 -1,922 -390


TY 2023 OtherIncreasesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Description Amount
UNREALIZED GAIN ON INVESTMENTS 4,774,439
NON-TAXABLE GAIN ON GRANT OF SECURITIES 1,209,820


TY 2023 OtherProfessionalFeesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT 40,313 40,313   0
OTHER INVESTMENT MANAGEMENT FEES 45,733 45,733   0
CUSTODIAL FEES 26,596 26,596   0


TY 2023 TaxesSchedule
Name:
GENERATION FUND INC
 
C/O DINSE PC
EIN:
27-2993973
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES WITHHELD 6,815 6,815   0
VERMONT UBI TAX 300 0   0