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
The Charles T Bauer Charitable
Foundation

Number and street (or P.O. box number if mail is not delivered to street address)901 South Bond Street 400
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Baltimore, MD21231

A Employer identification number

47-6309118

B Telephone number (see instructions)

(410) 537-5400

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

$125,155,790J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	223,659		223,659
4	Dividends and interest from securities...	1,378,551		1,378,551
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10	List of Attached Documents: // Content	3,802,467
b	Gross sales price for all assets on line 6a 30,842,640
7	Capital gain net income (from Part IV, line 2)...			3,802,334
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	2,563,257	1,908,616
12	Total. Add lines 1 through 11........	7,967,934		7,313,160
13	Compensation of officers, directors, trustees, etc.	190,000		19,000	171,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	10,000	5,000	5,000
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	323,687	187,810	135,877
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	107,688	2,688	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	1,084,252	456,133	3,882
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,715,627		670,631	315,759
25	Contributions, gifts, grants paid.......	4,883,550			4,883,550
26	Total expenses and disbursements. Add lines 24 and 25	6,599,177		670,631	5,199,309
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,368,757
b	Net investment income (if negative, enter -0-)			6,642,529
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.........	1,586,283	8,343,552	8,343,552
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	19,230,940	List of Attached Documents: // Content 21,051,550	20,682,382
	b	Investments—corporate stock (attach schedule).......	15,765,055	List of Attached Documents: // Content 26,234,717	39,019,954
	c	Investments—corporate bonds (attach schedule).......	15,099,368	List of Attached Documents: // Content 6,347,169	6,039,350
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	50,193,175	List of Attached Documents: // Content 41,266,590	51,070,552
	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)	101,874,821	103,243,578	125,155,790
	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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	101,874,821	103,243,578
	29	Total net assets or fund balances (see instructions).....	101,874,821	103,243,578
	30	Total liabilities and net assets/fund balances (see instructions).	101,874,821	103,243,578

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

101,874,821

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

1,368,757

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

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

103,243,578

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 .

103,243,578

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	From Sch K-1 (Form 1065)	P
c	Litigation proceeds	P
d	Brown Advisory Investors 2009 - CEF VII, LLLP	P	2009-07-09	2023-12-31
e	Brown Advisory Investors 2011 - CEOF (TE), LLLP	P	2011-05-06	2023-06-15
	ValueAct-3yr Lock Up-Jan 20 Ser-Tax Exempt	P	2010-01-01	2023-06-22

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	23,786,842	22,984,988	801,854
b	1,004,939		1,004,939
c	9,103		9,103
d		23,482	-23,482
e	135,375	31,703	103,672
	5,906,248	4,000,000	1,906,248

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			801,854
b			1,004,939
c			9,103
d			-23,482
e			103,672
			1,906,248

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	3,802,334
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	92,331
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	92,331
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	92,331
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	176,626
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	176,626
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	84,295
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax84,295	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

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

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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?.........

Yes

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

Yes

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)

MD, TX

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 Click to see list of attachments

List of Attached Documents:

// Content

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

Yes

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address right arrow

N/A

The books are in care of right arrow

Brown Advisory Telephone no. right arrow

(410) 537-5400

Located at right arrow

901 South Bond St Ste 400BaltimoreMD ZIP+4 right arrow

21231

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

16Yes

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)

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)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2023? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

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

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

If "Yes," list the years right arrow

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

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

20, 20, 20, 20

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

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

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

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

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

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

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

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

Form 990-PF (2023)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
Janet Bauer Hartman	Trustee 7.00	95,000
901 South Bond St Suite 40 Baltimore,MD21231	Trustee 7.00	95,000
Theodore Wingate Bauer	Trustee 7.00	95,000
901 South Bond St Suite 40 Baltimore,MD21231	Trustee 7.00	95,000

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


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









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

Form 990-PF (2023)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
Brown Advisory	Admin/Investments	323,687
901 South Bond St Suite 400 Baltimore,MD21231	Admin/Investments	323,687

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

118,040,856

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

5,203,671

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

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

123,244,527

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

123,244,527

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

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

1,848,668

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

121,395,859

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

6,069,793

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

6,069,793

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

92,331

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

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

92,331

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

5,977,462

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

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

5,977,462

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

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

5,977,462

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 ..........

5,199,309

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. .......

5,199,309

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				5,977,462
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......			2,958,658
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......
e From 2022......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2023 from Part
XI, line 4: $ 5,199,309
a Applied to 2022, but not more than line 2a			2,958,658
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.....				2,240,651
e Remaining amount distributed out of corpus	0
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	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		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 ..........				3,736,811
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 ......	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....

Form 990-PF (2023)

Page 10

Part XIII

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

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

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

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

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

Part XIV

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

1Information Regarding Foundation Managers:

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

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

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

Check here right arrow

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

aThe name, address, and telephone number or 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
Art with a Heart Inc 3000 Falls Road Mill No 1 Baltimore,MD21211	N/A	PC	General support	120,000
Baltimore Symphony Orchestra Inc 1212 Cathedral St Baltimore,MD21201	N/A	PC	General support	50,000
Biotechnical Institutes of Maryland 2001 Aliceanna St Baltimore,MD21231	N/A	PC	General support	125,000
Boys Latin School of Maryland Inc 822 W Lake Ave Baltimore,MD21210	N/A	PC	General support	313,750
Bucknell University 82 University Ave Lewisburg,PA17837	N/A	PC	General support	600,000
Caroline Center Inc PO Box 460 Ridgely,MD21660	N/A	PC	General support	25,000
Chesapeake Bay Foundation Inc 6 Herndon Ave Annapolis,MD21403	N/A	PC	General support	100,000
Community Foundation of Anne Arundel County 900 Bestgate Road Ste 400 Annapolis,MD21401	N/A	PC	General support	14,000
Cool Kids Campaign Foundation Inc 8422 Bellona Ln Ste 102 Towson,MD21204	N/A	PC	General support	50,000
Cristo Rey Jesuit High School 420 South Chester St Baltimore,MD21211	N/A	PC	General support	200,000
Cylburn Arboretum Friends Inc 4915 Greenspring Ave Baltimore,MD21209	N/A	PC	General support	400,000
Cystic Fibrosis Foundation 4550 Montgomery Ave Ste 1100N Bethesda,MD20814	N/A	PC	General support	50,000
Gilchrist Hospice Care Inc 11311 McCormick Rd Ste 350 Hunt Valley,MD21031	N/A	PC	General support	50,000
Girls Charter School 5204 Roland Ave Baltimore,MD21210	N/A	PC	Little May Charter	110,800
Irvine Natural Science Center Inc 11201 Garrison Forest Rd Owings Mills,MD21117	N/A	PC	General support	250,000
Johns Hopkins University 3910 Keswick Rd No N4327B Baltimore,MD21211	N/A	PC	Women's Wellness & Healthy Aging Program and general support	300,000
Keep Punching 2222 Sugarcone Road Baltimore,MD21209	N/A	PC	General support	100,000
Kennedy Krieger Foundation Inc 707 N Broadway Baltimore,MD21205	N/A	PC	General support	75,000
Living Classrooms 802 S Caroline St Baltimore,MD21231	N/A	PC	General support	125,000
Longboat Key Garden Club Inc 540 Putter Ln Longboat Key,FL34228	N/A	PC	General support	10,000
Maryland Food Bank Inc 2200 Halethorpe Farms Rd Baltimore,MD21227	N/A	PC	General support	50,000
Mote Marine Laboratory 1600 Ken Thompson Pkwy Sarasota,FL34236	N/A	PC	General support	60,000
National Aquarium in Baltimore Inc Pier 3 - 501 East Pratt St Baltimore,MD21202	N/A	PC	General support	50,000
New Hour for Women & Children Li Inc PO Box 213 Brentwood,NY11717	N/A	PC	General support	10,000
Next One Up Foundation 502 Washington Ave Ste 425 Towson,MD21204	N/A	PC	General support	50,000
NorthShore Holiday House 74 Huntington Rd Huntington,NY11743	N/A	PC	General support	60,000
Pancreatic Cancer Action Network Inc 1500 Rosecrans Avenue 200 Manhattan Beach,CA90266	N/A	PC	General support	10,000
Pauls Place Inc 1118 Ward St Baltimore,MD21230	N/A	PC	General support	75,000
Players Philanthropy Fund 1122 Kenilworth Dr Ste 201 Towson,MD21204	N/A	PC	General support	50,000
Roland Park Country School Inc 5204 Roland Ave Baltimore,MD21230	N/A	PC	General support	910,000
Second Chance Last Opportunity Inc PO Box 1027 Sarasota,FL34230	N/A	PC	General support	20,000
The Bay Park Conservancy Inc 655 N Tamiami Trail Sarasota,FL34236	N/A	PC	General support	25,000
The Family Tree Inc 2108 N Charles St Baltimore,MD21218	N/A	PC	General support	20,000
United Community Centers Inc 1200 E Maddox Ave Fort Worth,TX76104	N/A	PC	General support	30,000
Washington & Lee University 204 West Washington St Lexington,VA24450	N/A	PC	General support	320,000
Washington College 300 Washington Avenue Chestertown,MD21620	N/A	PC	General support	50,000
Worldwide Orphans Foundation 244 Fifth Ave K298 New York,NY10001	N/A	PC	General support	25,000
Total ................................. 3a				4,883,550

bApproved for future payment

Total ................................. 3b				0

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	223,659
4 Dividends and interest from securities ....			14	1,378,551
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............	525990	133	18	3,802,334
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFrom Sch K-1 (Form 1065)	525990	654,640	14	1,908,617
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		654,773		7,313,161	0

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

7,967,934

(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:

TY 2023 AccountingFeesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting and tax compliance	10,000	5,000		5,000

- TIN:

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

TY 2023 GainLossSaleOtherAssetsSch

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name	Date Acquired	How Acquired	Date Sold	Purchaser Name	Gross Sales Price	Basis	Basis Method	Sales Expenses	Total (net)	Accumulated Depreciation
From Sch K-1 (Form 1065)		Purchased			133		Cost	0	133

- TIN:

TY 2023 GeneralExplanationAttachment

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Identifier	Return Reference	Explanation
Controlled Entity	Form 990-PF, Part VI-A, Line 11	The Charles T. Bauer Foundation held a controlling interest in Brown Advisory Investors 2012 - NEA 14 (TE), LLLP per IRC Sec. 512(b)(13). As of 12/31/2023, the Foundation's ownership interest in this entity was 55.55%. This entity is an investment fund and not a business enterprise per IRC Sec. 4943(d)(3)(B).

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name of Bond	End of Year Book Value	End of Year Fair Market Value
415,000 American Express Credit 3.39% 05/17/27	414,907	406,509
145,000 American Tower Corp 3.6% 01/15/28	153,568	138,111
295,000 Analog Devices Inc 1.7% 10/01/28	293,293	261,615
160,000 Aptiv PLC 3.25% 03/01/32	159,523	141,344
300,000 Bio Rad Labs Inc 3.7% 03/15/32	262,077	270,888
275,000 Carrier Global Corp 2.242% 02/15/25	265,711	266,489
270,000 Citigroup Inc 3.2% 10/21/26	283,306	257,453
280,000 Clorox Co 4.4% 05/01/29	279,065	277,178
136,000 Comcast Corp 3.4% 04/01/30	140,139	127,296
255,000 Consolidated Edison Co of NY Inc 3.35% 04/01/30	246,506	237,762
155,000 Crown Castle Intl Corp 3.3% 07/01/30	154,152	138,965
270,000 Dollar General Corp 3.875% 04/15/27	282,900	261,638
260,000 Dollar Tree Inc 4.2% 05/15/28	286,982	254,272
135,000 Fortis Inc 3.055% 10/04/26	140,972	128,150
200,000 GM Financial Consumer Auto Rec 1.23% 08/16/27	199,992	186,222
275,000 Hasbro Inc 3.55% 11/19/26	286,004	260,758
130,000 J.B. Hunt Transport Services, Inc. 3.875% 03/01/26	131,252	127,394
255,000 Keysight Technologies 4.6% 04/06/27	272,586	254,130
265,000 Marvell 5.75% 02/15/29	264,409	273,798
280,000 Morgan Stanley 3.125% 07/27/26	261,949	268,114
160,000 Perkinelmer Inc 1.9% 09/15/28	159,885	138,472
245,000 PNC Financial Services Group Inc 6.875% 10/20/34	272,183	271,984
125,000 Sysco Corp 5.95% 04/01/30	128,691	132,854
265,000 Trimble Inc 6.1% 03/15/33	265,590	283,603
295,000 Verizon Communications Inc 2.1% 03/22/28	295,175	266,857
275,000 Wells Fargo Co 3% 10/23/26	285,160	261,077
162,000 Xylem Inc 1.95% 01/30/28	161,192	146,417

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name of Stock	End of Year Book Value	End of Year Fair Market Value
344 AbbVie Inc	22,497	53,310
108 Accenture Plc	5,684	37,898
3,356 Accolade Inc	51,428	40,306
123 Adobe Inc	140,783	407,478
486 Agilent Technologies Inc	113,947	144,869
2,286 Agilon Health Inc	51,457	28,689
1,301 Albany International Corp.	55,813	127,784
808 Alerus Financial Corp	18,159	18,091
226 Align Technology, Inc.	150,388	153,988
1,997 Alignment Healthcare Inc	30,722	17,194
2,160 Alphabet Inc Class A	32,807	416,276
1,039 Alphabet Inc Class C	27,893	298,631
2,581 Amalgamated Bank	58,582	69,532
2,602 Amazon.com Inc	266,161	691,631
1,213 American Tower Corp	150,615	301,800
147 Ameriprise Financial, Inc.	24,897	113,189
217 Analog Devices, Inc.	154,545	278,977
597 Apple Inc	21,095	286,100
444 Arthur J. Gallagher & Co.	104,750	99,847
148 Arvinas Inc	6,097	6,092
239 Ascendis Pharma A/S	30,440	30,102
839 Assurant Inc	61,367	141,363
1,700 Assured Guaranty Ltd.	98,075	127,211
453 Atlassian Corp	195,960	269,971
459 Autodesk Inc	65,641	111,757
241 Automatic Data Processing Inc	10,004	56,146
2,677 Avantor Inc	81,239	61,116
1,059 Azek Company Inc	40,891	40,507
1,522 Baker Hughes Co	69,452	81,451
1,181 Bank of America Corp	55,349	128,384
49 Becton Dickinson and Co	12,564	11,948
126 Bel Fuse Inc Class A	104,845	168,940
646 Bentley Systems Inc	20,352	33,708
481 Berkshire Hathaway Inc Cedear	26,163	171,553
292 Best Buy Co Inc	8,630	22,858
437 Bio-Techne Corp	27,142	33,719
1,089 Blackline Inc	54,251	67,997
1,585 Blackstone Inc	212,438	302,949
375 Blueprint Medicines Corp	23,337	34,590
28 Booking Holdings Inc	27,741	99,322
1,317 Bright Horizons Family Solutions Inc	117,192	163,789
2,205 Bristow Group Inc	61,229	62,335
39,841 Brown Advisory Emerging Markets Select Fund Institutional Shares	500,000	429,880
117,140 Brown Advisory Global Leaders Fund Institutional Shares	1,153,362	2,766,841
948,354 Brown Advisory Mortgage Securities Instl	9,568,943	8,686,920
911 Bruker Corp	38,021	66,940
255 Cable One Inc	178,596	141,930
900 Cactus Inc	28,812	40,860
715 Cadence Design Systems Inc	77,706	194,745
179 Canaan Inc - ADR	9,532	62,462
408 Canadian National Railway Co	14,502	51,257
696 Carmax Inc	5,311	53,411
782 Carrier Global Corp	7,460	44,926
795 Casella Waste Systems Inc.	60,240	67,941
349 Caseys General Stores Inc	36,656	95,884
6,087 CCC Intelligent Solutions Holdings Inc	65,708	69,331
2,757 ChampionX Corp	126,484	205,054
1,710 Chewy Inc	118,704	40,407
83 Chipotle Mexican Grill, Inc.	124,753	189,818
97 Choice Hotels International Inc	6,896	10,990
207 Chubb Ltd	31,840	46,782
256 Churchill Downs, Inc.	22,850	34,542
194 Cintas Corp	36,733	116,916
724 Cisco Systems Inc	17,997	36,576
1,123 Civeo Corp	22,866	25,661
2,504 Clarus Corp	23,551	17,265
1,929 Clear Secure Inc	50,504	39,834
711 Clearwater Analytics Holdings Inc	12,909	14,241
548 Cogent Communications Holdings Inc	71,272	94,543
34 Coinbase Global Inc	782	5,913
993 Comcast Corp	38,179	43,543
1,204 CoStar Group Inc	85,003	105,218
230 Costco Wholesale Corporation	35,109	151,818
1,756 Crane NXT Co	76,647	99,864
1,011 CTO Realty Growth Inc	19,497	17,521
3,425 CTS Corp	98,116	149,809
133 Cummins Inc	32,150	31,863
202 Curtiss-Wright Corp.	84,846	174,222
491 CVS Health Corp	44,568	38,769
1,148 Danaher Corp	70,788	265,578
2,077 Definitive Healthcare Corp	24,895	20,645
1,030 DigitalBridge Group Inc	27,762	18,066
2,148 Dime Community Bancshares Inc	74,868	57,846
366 Dow Inc	16,445	20,071
1,404 Dynatrace Inc	151,616	248,129
1,025 Eagle Materials Inc	72,991	207,911
8,795 Eastern Bankshares Inc	142,521	124,889
269 Eastgroup Properties Inc	63,666	117,282
748 Ecolab Inc	41,632	148,366
1,200 Edwards Lifesciences Corp	205,306	384,757
187 Elevance Health Inc	6,587	88,182
1,006 Encompass Health Corp	51,763	67,120
108 Enpro Inc	125,189	154,075
600 Entegris Inc	29,012	71,892
599 Envestnet Inc	35,367	29,662
5,569 Equity Commonwealth	115,986	106,925
1,500 Esc Gci Liberty Inc Sr	2	0
4,366 Essential Properties Realty Trust Inc	53,572	111,595
1,459 Establishment Labs Holdings Inc	26,135	37,774
2,207 Federal Signal Corp	33,499	169,365
162 Ferguson Enterprises Inc	91,076	111,594
1,377 First Bancorp	65,844	50,963
59 First Citizens BancShares Inc (Delaware) Class A	39,365	83,719
658 First Watch Restaurant Group Inc	11,844	13,226
502 Fiserv Inc	52,339	66,686
2,570 Fortive Corp	102,767	189,229
268 FTI Consulting Inc	28,535	53,372
411 Gartner Inc	137,692	185,406
615 Generac Holdings Inc	69,486	79,483
447 General Electric Co	50,153	57,051
569 Genpact Ltd	7,971	19,750
2,474 Getty Realty Corp.	61,071	72,290
361 Gilead Sciences, Inc.	24,013	29,245
4,259 Global Medical REIT Inc	60,739	47,275
345 Guidewire Software Inc	28,726	37,619
956 H.B. Fuller Company	62,641	77,828
550 HA Sustainable Infrastructure Capitl Inc	18,599	15,169
760 Hanover Insurance Group Inc	74,447	92,279
1,002 Healthequity Inc	49,380	66,433
132 Home Depot Inc	19,944	45,745
252 Houlihan Lokey Inc	24,173	30,217
104 IDEX Corp	44,816	69,692
363 IDEXX Laboratories, Inc.	31,446	201,483
927 Inari Medical Inc	47,564	60,181
8,324 Infinera Corp	66,314	39,539
2,341 Ingevity Corp	171,373	110,542
3,287 International Money Express Inc	76,824	72,610
174 Intuit Inc	125,827	646,906
426 Intuitive Surgical, Inc.	14,351	143,715
381 John Bean Technologies Corp	37,205	37,890
293 JPMorgan Chase & Co	13,718	49,839
407 Kadant Inc	10,139	114,086
193 Karuna Therapeutics, Inc.	34,582	61,086
755 Kenvue Inc	5,984	16,255
1,824 Kinder Morgan Inc	31,404	32,175
1,840 KKR & Co Inc	64,420	166,529
324 Knight-Swift Transportation Holdings Inc	5,058	18,679
10,949 Ladder Capital Corp	109,518	126,023
461 Lattice Semiconductor Corp	16,004	31,804
3,013 La-Z-Boy Inc	94,854	111,240
4,639 Leonardo DRS Inc	61,254	92,966
2,829 Lifestance Health Group Inc	21,414	22,151
145 Linde PLC	24,108	59,553
182 Littelfuse Inc	33,808	48,696
146 Lowe's Companies Inc	14,663	84,124
252 Lululemon Athletica Inc	61,004	128,845
3,143 Marvell Technology Inc	70,215	189,554
305 Mastercard Inc	101,743	337,796
1,452 Match Group Inc	134,711	52,998
176 McDonald's Corp	15,829	52,186
398 Medtronic PLC	31,446	32,787
364 Merck & Co Inc	32,918	107,276
475 Meta Platforms Inc	57,315	168,131
5,666 MGIC Investment Corp	64,931	109,297
1,250 Microsoft Corp	190,813	1,078,859
7,676 Mister Car Wash Inc	74,653	66,321
4,516 Modine Manufacturing Co	115,181	269,605
1,184 Monarch Casino & Resort Inc	80,071	81,874
358 Monolithic Power Systems Inc	34,090	225,819
1,095 Monro Inc	29,413	32,127
391 MSA Safety Inc	42,640	66,013
364 Msci Inc	149,951	205,897
2,042 Mueller Water Products Inc	128,218	157,622
333 Murphy USA Inc	16,854	118,734
4,433 NCR Atleos Corp	91,942	107,678
6,102 NCR Voyix Corp	92,558	103,185
5,571 NeoGenomics, Inc.	70,146	90,139
94 Netflix Inc	20,906	45,767
659 Neurocrine Biosciences, Inc.	35,868	86,830
859 Nexstar Media Group Inc	45,534	134,648
1,562 Nike Inc	159,965	169,586
3,106 Nomad Foods Ltd	44,615	52,647
393 Novartis AG	18,024	39,681
315 NVIDIA Corp	199,362	602,188
313 NXP Semiconductors NV	27,709	71,890
5,860 Oceaneering International Inc	56,154	124,701
112 Onto Innovation Inc	45,792	166,814
4,374 Orion SA	107,671	121,291
904 Orthopediatrics Corp	33,574	29,389
242 Otis Worldwide Corp	13,255	21,652
296 Oxford Industries Inc	31,305	29,600
4,640 Pacific Premier Bancorp, Inc.	109,438	135,070
4,830 Patterson Companies, Inc.	141,207	137,414
800 PC Connection, Inc.	32,755	53,768
1,567 Peapack-Gladstone Financial Corporation	41,359	46,728
1,713 Peoples Bancorp Inc.	46,145	57,831
2,382 Phreesia Inc	48,628	55,143
1,064 Pinterest Inc	117,627	132,048
2,068 Portland General Electric Company	84,890	89,627
567 Power Integrations Inc	46,646	46,556
318 Procter & Gamble Co	44,301	46,600
372 Progressive Corp	140,115	169,792
1,669 PROS Holdings, Inc.	63,725	64,741
1,494 Prosperity Bancshares, Inc.	80,204	101,189
336 Quaker Chemical Corp	54,480	71,709
1,905 Rentokil Initial plc	75,957	54,502
2,040 REX American Resources Corp	52,767	96,492
347 Roblox Corp	2,741	15,865
289 S&P Global Inc	109,848	127,310
207 SBA Communications Corp	112,274	178,598
1,093 Seacoast Banking Corporation of Florida	27,757	31,107
230 ServiceNow Inc	246,134	463,457
1,431 Shutterstock Inc	69,035	69,089
2,364 SI-Bone Inc	55,409	49,620
2,182 Signet Jewelers Ltd	157,736	234,041
1,092 Simply Good Foods Co	25,247	43,243
179 SiteOne Landscape Supply Inc	11,786	29,088
91 SiTime Corp	9,342	11,109
1,491 Sitio Royalties Corp	35,194	35,053
961 SPDR S&P Biotech ETF	77,083	85,808
210 SPX Technologies Inc	16,902	21,212
2,446 Suncor Energy Inc	58,836	78,370
956 Taiwan Semiconductor Mfg. Co. Ltd.	48,319	99,424
245 Take-Two Interactive Software, Inc.	23,186	39,433
240 Target Corp	26,029	34,181
200 Thermo Fisher Scientific Inc	75,589	317,943
2,939 Thermon Group Holdings Inc	55,696	95,723
713 TJX Companies Inc	16,826	66,887
214 T-Mobile Us Inc	77,200	94,274
134 TopBuild Corp	6,385	50,151
3,143 TreeHouse Foods Inc	126,532	130,277
837 Truist Financial Corp	32,576	30,902
1,994 Uber Technologies Inc	276,445	381,241
947 UMB Financial Corp	52,562	79,122
763 Unilever plc	29,082	36,990
226 United Parcel Service, Inc.	40,340	35,534
166 United Rentals, Inc.	7,616	95,188
283 UnitedHealth Group Inc	182,361	493,829
206 Valmont Industries, Inc.	47,184	48,103
337 Veeva Systems Inc	89,656	64,879
1,195 Veralto Corp	129,960	167,481
788 Verisk Analytics, Inc.	26,154	188,222
262 Virtus Investment Partners Inc	18,908	63,341
1,320 Visa Inc	81,080	557,670
3,912 Vista Outdoor Inc	81,140	115,678
2,167 Vizio Holding Corp	18,097	16,686
979 Waste Connections Inc	42,848	146,135
492 West Pharmaceutical Services Inc.	55,974	173,243
325 WEX Inc	38,848	63,229
42 White Mountains Insurance Group Ltd	64,844	63,210
3,717 WideOpenWest Inc	66,636	15,054
358 Woodward, Inc.Common Stock	19,368	48,735
630 Workiva Inc	21,167	63,964
2,255 WSFS Financial Corporation	115,127	103,572
172 Xpel Inc	10,603	9,262
514 Zoetis Inc	27,296	101,448
1,597 Zurn Elkay Water Solutions Corp	54,357	46,968

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

US Government Securities - End of Year Book Value:

20,856,550

US Government Securities - End of Year Fair Market Value:

20,494,548

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

195,000

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

187,834

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Brown Advisory Investors - GEOF II, LLLP	AT COST	5,160,024	4,421,116
Brown Advisory Investors 2008 - NEA 13, LLLP	AT COST	195,416	102,333
Brown Advisory Investors 2010 - EnCap VIII (TE), LLLP	AT COST	565,488	212,138
Brown Advisory Investors 2011 - RG II, LLLP	AT COST	74,175	23,668
Brown Advisory Investors 2011 - SLK (TE), LLLP	AT COST	75,957	85,754
Brown Advisory Investors 2012 - EFM II (TE), LLLP	AT COST	317,756	99,101
Brown Advisory Investors 2012 - EnCap IX (TE), LLLP	AT COST	930,632	560,321
Brown Advisory Investors 2012 - NEA 14 (TE), LLLP	AT COST	131,740	476,307
Brown Advisory Investors 2012 - RS Energy V (TE), LLLP	AT COST	141,898	73,264
Brown Advisory Investors 2014 - EFM III (TE), LLLP	AT COST	689,464	545,081
Brown Advisory Investors 2015 - CRC IV (QP), LLLP	AT COST	474,724	1,012,166
Brown Advisory Investors 2015 - Energy X (TE), LLLP	AT COST	543,050	470,883
Brown Advisory Investors 2017 - Energy XI, LLLP	AT COST	616,256	1,430,661
Brown Advisory Investors 2018 - EFM IV, LLLP	AT COST	173,321	489,663
Brown Advisory Investors SI International, LLLP	AT COST	17,099,464	17,003,377
Brown Advisory Private Equity Partners 10 (Q), LLLP	AT COST	102,829	119,183
Brown Advisory Private Equity Partners 11 (Q), LLLP	AT COST	15,157	20,933
Brown Advisory Private Equity Partners III (TE), LLLP	AT COST	1,227,191	1,737,148
Brown Advisory Private Equity Partners IV (TE), LLLP	AT COST	387,293	710,295
Brown Advisory Private Equity Partners IX (QP), LLLP	AT COST	362,505	414,872
Brown Advisory Private Equity Partners VI (TE), LLLP	AT COST	389,393	669,143
Brown Advisory Private Equity Partners VII (AI), LLLP	AT COST	380,181	598,775
Brown Advisory Private Equity Partners VIII (AI), LLLP	AT COST	356,022	448,669
Brown Advisory Real Estate Partners 4 (QP), LLLP	AT COST	62,331	62,036
Brown Advisory Real Estate Partners I (QP), LLLP	AT COST	329,252	468,003
Brown Advisory Real Estate Partners II (AI), LLLP	AT COST	339,252	482,789
Brown Advisory Real Estate Partners III (AI), LLLP	AT COST	232,598	286,089
Cougar Investment Fund LLC	AT COST	319,524	303,777
DFJ Mercury II LP	AT COST	120,452	190,996
Edgbaston Asian Equity Trust	AT COST	3,119,912	2,484,530
Global Select Hedged Managers - Class 1 - Tax-Exempt	AT COST	3,333,333	5,754,872
Viking Long Fund - Class 1 - Tax-Exempt	AT COST	3,000,000	9,312,609

- TIN:

TY 2023 OtherExpensesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Passthrough K-1 expenses	1,066,376	442,139	0
Custody fees	13,994	13,994	0
Insurance	3,882	0	3,882

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
From Sch K-1 (Form 1065)	2,563,257	1,908,616	2,563,257

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Grants management & administration	135,877	0		135,877
Investment advisor	187,810	187,810		0

- TIN:

TY 2023 TaxesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Excise tax	105,000	0		0
Foreign tax	2,688	2,688		0

- TIN:

TY 2023 TransfersFrmControlledEntities

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name	US / Foreign Address	EIN	Description	Amount
Brown Advisory Investors 2012 - NEA 14 (TE) LLLP	901 South Bond St Ste 400 Baltimore,MD21231	30-0743972	The Foundation holds a controlling interest in this entity per IRC Sec. 512(b)(13).	7,920
Total				27,041

- TIN:

TY 2023 TransfersToControlledEntities

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name	US / Foreign Address	EIN	Description	Amount
Brown Advisory Investors 2012 - NEA 14 (TE) LLLP	901 South Bond St Ste 400 Baltimore,MD21231	30-0743972	The Foundation holds a controlling interest in this entity per IRC Sec. 512(b)(13).	7,920
Total				7,920