TY 2024 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

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024

Name of foundation
THE IDIOPATHIC PULMONARY FIBROSIS
FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)21301 S TAMIAMI TRAIL 320 PMB 226
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
ESTERO, FL33928

A Employer identification number

82-0599753

B Telephone number (see instructions)

(952) 460-9242

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

$2,726,069J 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)	32,750
2	Check .............
3	Interest on savings and temporary cash investments	151		151
4	Dividends and interest from securities...	145,448		145,448
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		0
b	Gross sales price for all assets on line 6a 2,683,862
7	Capital gain net income (from Part IV, line 2)...			0
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).......
12	Total. Add lines 1 through 11........	178,349		145,599
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	4,793	2,397	2,396
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	4,017	2,009	2,008
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	73	73	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...
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	101,803	901	902
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	110,686		5,380	5,306
25	Contributions, gifts, grants paid.......	130,000			130,000
26	Total expenses and disbursements. Add lines 24 and 25	240,686		5,380	135,306
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-62,337
b	Net investment income (if negative, enter -0-)			140,219
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

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.............		1,748	1,748
	2	Savings and temporary cash investments.........	2,770,284	178,678	178,678
	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	100,000	0	0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 252,682	252,682
	b	Investments—corporate stock (attach schedule).......	0	List of Attached Documents: // Content 1,449,411	1,449,411
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	0	List of Attached Documents: // Content 843,550	843,550
	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)	2,870,284	2,726,069	2,726,069
	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	2,870,284	2,726,069
	29	Total net assets or fund balances (see instructions).....	2,870,284	2,726,069
	30	Total liabilities and net assets/fund balances (see instructions).	2,870,284	2,726,069

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

2,870,284

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

-62,337

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

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

2,807,947

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

81,878

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

2,726,069

Form 990-PF (2024)

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
1 a	PUBLICLY TRADED SECURITIES	P
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,683,862	2,683,862	0
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			0
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	0
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	1,949
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	1,949
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	1,949
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	3,660
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	3,660
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	1,711
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax1,711	Refunded	11	0

Form 990-PF (2024)

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?.........

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

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

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

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

By language in the governing instrument, or

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

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

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

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

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

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

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

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

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

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

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

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

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

Yes

Website address right arrow

N/A

The books are in care of right arrow

KRISTAN RICE Telephone no. right arrow

(952) 460-9242

Located at right arrow

21301 S TAMIAMI TRAIL 320 PMB 226ESTEROFL ZIP+4 right arrow

33928

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 2024, 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 (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

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

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

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

1a(6)

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2024? .............

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 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

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 2024 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 2024.) .....................

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 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
KRISTAN RICE	CHIEF EXECUTIVE OFFICER 60.00	0	0	0
21776 MASTERS CIR ESTERO,FL33928	CHIEF EXECUTIVE OFFICER 60.00	0	0	0
ANNE CHRISTY BALLENTINE	SECRETARY 50.00	0	0	0
5232 N HOLLYWOOD AVE WHITEFISH BAY,WI53217	SECRETARY 50.00	0	0	0

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


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









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

Form 990-PF (2024)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

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

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2024)

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

106,069

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

2,735,573

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

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

2,841,642

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

2,841,642

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

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

42,625

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

2,799,017

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

139,951

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

139,951

Tax on investment income for 2024 from Part V, line 5 .......

1,949

Income tax for 2024. (This does not include the tax from Part V.) ...

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

1,949

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

138,002

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

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

138,002

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

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

138,002

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 ..........

135,306

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. .......

135,306

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7					138,002
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2024:
a From 2019......	26,135
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........		26,135
4Qualifying distributions for 2024 from Part
XI, line 4: $ 135,306
a Applied to 2023, 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 2024 distributable amount.....					135,306
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2024.		2,696			2,696
(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		23,439
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 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........					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 2019 not applied on line 5 or line 7 (see instructions) ...		23,439
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....

Form 990-PF (2024)

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 2024, 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) 2024	(b) 2023	(c) 2022	(d) 2021	(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).)

KRISTAN RICE

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 (2024)

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
UNIVERSITY OF CALIFORNIA IRVINE 260 ALDRICH HALL IRVINE,CA926971075	N/A	PC	FOR DR. MICHAEL LEON'S LABORATORY	130,000
Total ................................. 3a				130,000

bApproved for future payment

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

Form 990-PF (2024)

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	151
4 Dividends and interest from securities ....			14	145,448
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		145,599	0

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

145,599

(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 (2024)

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 (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEES	4,017	2,009		2,008

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ACUITY BRANDS INC COM	6,135	6,135
AFLAC INC COM	10,034	10,034
ALPHABET INC CAP STK CL C	6,856	6,856
ALPHABET INC CL A	12,872	12,872
AMCOR PLC REGISTERED SHS	8,206	8,206
AMERICAN EXPRESS CO COM	21,666	21,666
AMERIPRISE FINL INC COM	25,024	25,024
AMGEN INC COM	6,255	6,255
APPLE INC COM	7,012	7,012
ARISTA NETWORKS INC COM NEW	7,295	7,295
AT&T INC COM	9,928	9,928
ATMOS ENERGY CORP COM	10,027	10,027
AUTONATION INC COM	6,454	6,454
BERKSHIRE HATHAWAY INC DEL CL B NEW	12,692	12,692
BEST BUY INC COM	8,580	8,580
BHP GROUP LTD SPONSORED ADR	6,348	6,348
BLACKSTONE INC COM	9,656	9,656
BLOCK H & R INC COM	12,259	12,259
BOOKING HLDGS INC COM	4,968	4,968
BOSTON SCIENTIFIC CORP COM	12,862	12,862
BROADCOM INC COM	24,575	24,575
BRUNSWICK CORP COM	6,015	6,015
BUNGE GLOBAL SA ACT NOM	6,065	6,065
CADENCE DESIGN SYS INC COM	17,126	17,126
CARLISLE COS INC COM	5,901	5,901
CATERPILLAR INS COM	9,432	9,432
CDW CORP COM	8,528	8,528
CELSIUS HLDGS INC COM NEW	6,295	6,295
CENCORA INC COM	12,582	12,582
CENTENE CORP DEL COM	7,230	7,230
CHEMED CORP NEW COM	6,887	6,887
CHUBB LTD COM	10,223	10,223
CIGNA GROUP COM	23,748	23,748
CINTAS CORP COM	17,357	17,357
CISCO SYS INC COM	15,688	15,688
CME GROUP INC COM	8,593	8,593
CNH INDL NV	6,299	6,299
COPART INC COM	6,428	6,428
COSTCO WHOLESALE CORP NEW COM	6,414	6,414
CUMMINS INC COM	6,275	6,275
DAVITA INC COM	19,442	19,442
DECKERS OUTDOOR CORP COM	6,702	6,702
DISCOVER FINL SVCS COM	8,662	8,662
DOXIMITY INC CL A	6,674	6,674
DR HORTON INC COM	20,554	20,554
EAGLE MATLS INC COM	5,922	5,922
EASTMAN CHEM CO COM	6,118	6,118
EATON CORPORATION PLC SHS	12,279	12,279
EOG RES INC COM	15,323	15,323
EVERCORE INC CL A	12,196	12,196
EXPEDITORS INTL WASH INC COM	6,314	6,314
EXXON MOBIL CORP COM	14,845	14,845
FAIR ISAAC CORPORATION COM	11,946	11,946
FEDEX CORP COM	15,473	15,473
FERGUSON ENTERPRISES INC COM	7,811	7,811
FIDELITY NATL INFORMATION SVCS INC COM	12,519	12,519
FLEX LTD ORD SHS	6,757	6,757
GARMIN LTD SHS	9,488	9,488
GARTNER INC COM	12,112	12,112
GENERAL DYNAMICS CORP COM	15,282	15,282
GENERAL MLS INC COM	8,481	8,481
GODADDY INC CL A	12,434	12,434
HERSHEY CO COM	9,822	9,822
HOWMET AEROSPACE INC COM	6,562	6,562
INGERSOLL RAND INC COM	12,122	12,122
INTERPUBLIC GROUP COS INC COM	6,108	6,108
INTUIT COM	6,914	6,914
IRON MTN INC NEW COM	12,823	12,823
ITT INC COM	6,144	6,144
JABIL INC COM	7,195	7,195
JOHNSON & JOHNSON COM	8,677	8,677
JPMORGAN CHASE & CO COM	25,889	25,889
L3HARRIS TECHNOLOGIES INC COM	8,201	8,201
LEIDOS HLDGS INC COM	12,533	12,533
LENNAR CORP CL A	5,728	5,728
LIBERTY BROADBAND CORP COM SER A	6,246	6,246
LINCOLN ELEC HLDGS INC COM	6,187	6,187
LINDE PLC NEW SHS	16,747	16,747
LOCKHEED MARTIN CORP COM	22,839	22,839
LOWES COS INC COM	8,144	8,144
MASCO CORP COM	7,983	7,983
MASTEC INC COM	7,079	7,079
MEDTRONIC PLC SHS	18,133	18,133
MERCK & CO INC NEW COM	9,948	9,948
MICROSOFT CORP COM	23,183	23,183
MOLINA HEALTHCARE INC COM	6,985	6,985
MOTOROLA SOLUTIONS INC COM NEW	17,103	17,103
MUELLER INDS INC COM	6,508	6,508
MURPHY USA INC COM	12,042	12,042
NETAPP INC COM	16,716	16,716
NORTHROP GRUMMAN CORP COM	16,894	16,894
NOVO NORDISK	13,333	13,333
NVIDIA CORP COM	6,849	6,849
ONEOK INC NEW COM	6,426	6,426
OWENS CORNING NEW COM	9,368	9,368
PACCAR INC COM	14,355	14,355
PACKAGING CORP AMER COM	14,859	14,859
PARKER-HANNIFIN CORP COM	14,629	14,629
PENSKE AUTOMOTIVE GROUP INC COM	8,232	8,232
PERFORMANCE FOOD GROUP CO COM	6,341	6,341
PILGRIMS PRIDE CORP NEW COM	6,082	6,082
PROGRESSIVE CORP OH COM	12,699	12,699
PUBLIC STORAGE COM	5,989	5,989
PULTEGROUP INC COM	24,611	24,611
QUANTA SVCS INC COM	6,637	6,637
REGENERON PHARMACEUTICALS INC COM	6,411	6,411
REPUBLIC SVCS INC COM	12,473	12,473
S&P GLOBAL INC COM	12,451	12,451
SALESFORCE INC COM	6,352	6,352
SBA COMMUNICATIONS CORP NEW CL A	8,356	8,356
SCHLUMBERGER LTD COM	8,665	8,665
SIMPSON MFG INC COM	6,136	6,136
SNAP ON INC COM	8,487	8,487
SPOTIFY TECHNOLOGY SA REGISTERED SHS	12,079	12,079
SPROUTS FMRS MKT INC COM	5,718	5,718
SS&C TECHNOLOGIES HLDGS INC COM	12,883	12,883
STEEL DYNAMICS INC COM	6,160	6,160
STRYKER CORP COMMON	6,481	6,481
SYSCO CORP COM	8,334	8,334
TAIWAN SEMICONDUCTOR MFG CO	10,302	10,302
TARGET CORP COM	8,652	8,652
TD SYNNEX CORP COM	6,450	6,450
TEXAS INSTRS INC COM	9,938	9,938
TEXAS ROADHOUSE INC COM	6,495	6,495
TKO GROUP HLDGS INC CL A	6,963	6,963
TOTALENERGIES SE SPONS	16,568	16,568
TRANE TECHNOLOGIES PLC SHS	26,593	26,593
UBS GROUP AG	8,338	8,338
ULTA BEAUTY INC COM	7,394	7,394
UNITEDHEALTH GROUP INC COM	9,105	9,105
UNIVERSAL HEALTH SVCS INC	6,280	6,280
VEEVA SYS INC CL A COM	6,097	6,097
VERTEX PHARMACEUTICALS INC COM	6,041	6,041
WABTECCOM	12,513	12,513
WALMART INC COM	6,325	6,325
WESTLAKE CORP COM	6,306	6,306
WILLIAMS SONOMA INC COM	15,185	15,185
WILLIS TOWERS WATSON PUB LTD CO	6,891	6,891

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

US Government Securities - End of Year Book Value:

252,682

US Government Securities - End of Year Fair Market Value:

252,682

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

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

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ANGEL OAK FDS TR ULTRASHORT INCOME ETF	FMV	42,078	42,078
BLACKROCK ETF TR II ISHARES AAA CLO ACTIVE ETF	FMV	42,089	42,089
CAPITAL GROUP FIXED INCOME ETF TR CORE PLUS INCOME ETF	FMV	41,203	41,203
EA SER TR STRIVE ENHANCED INCOME SHORT MAT ETF	FMV	42,061	42,061
FIDELITY MERRIMACK STR TR LOW DURATION BD FACTOR ETF	FMV	41,941	41,941
FLEXSHARES TR READY ACCESS VAR INCOME FD	FMV	42,021	42,021
GOLDMAN SACHS ETF TR TR ACCESS ULTRA SHORT BD ETF	FMV	42,026	42,026
INVESCO ACTIVELY MANAGED EXCHANGE-TRADEDFD TR ULTRA SHORT ETF	FMV	42,092	42,092
INVESCO ACTIVELY MANAGED EXCHANGE-TRADEDFD TR VAR RATE INVT ETF	FMV	42,068	42,068
INVESCO EXCHANGE-TRADED FD TR S&P 500 EQUAL WEIGHT ETF	FMV	25,233	25,233
ISHARES TR FLTG RATE NT ETF	FMV	42,129	42,129
ISHARES TR ISHARES ULTRA SHORT-TERM BD ACTIVE ETF	FMV	42,059	42,059
JANUS DETROIT STR TR JANUS HENDERSON AAA CLO ETF	FMV	42,089	42,089
JP MORGAN EXCHANGE-TRADEDFD TR CORE PLUS BD ETF	FMV	41,233	41,233
JP MORGAN EXCHANGE-TRADEDFD TR ULTRA-SHORT INCOME ETF	FMV	42,009	42,009
PGIM ETF TR AAA CLO ETF	FMV	42,086	42,086
PGIM ETF TR ULTRA SHORT BD ETF	FMV	42,068	42,068
PIMCO ETF TR ENHANCED SHORT MAT ACTIVE ETF	FMV	42,143	42,143
SPDR S&P 500 ETF TR TR UNIT	FMV	21,685	21,685
VANGUARD BD INDEX FDS ULTRA SHORT BD ETF	FMV	42,078	42,078
VICTORY PORTFOLIOS II ESG CORE PLUS BD ETF	FMV	41,159	41,159

- TIN:

TY 2024 LegalFeesSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	4,793	2,397		2,396

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Description	Amount
UNREALIZED GAINS AND LOSSES	81,878

- TIN:

TY 2024 OtherExpensesSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BUSINESS REGISTRATION FEES	110	55	55
BAD DEBT EXPENSES	100,000	0	0
PAYPAL CHARGEBACK FEES	1,693	846	847

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE IDIOPATHIC PULMONARY FIBROSIS

FOUNDATION

EIN:

82-0599753

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES	73	73		0