Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
LOCKHART VAUGHAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1600 WEST 41ST STREET 700
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BALTIMORE, MD21211
A Employer identification number

52-1693184
B Telephone number (see instructions)

(410) 837-9400
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$45,077,585J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,140,151
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,022,224 1,022,224  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -134,451
b Gross sales price for all assets on line 6a 17,592,367
7 Capital gain net income (from Part IV, line 2)... 1,761,498
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
36,612 -2,912  
12 Total. Add lines 1 through 11........ 3,064,536 2,780,810  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,452 0   92,452
14 Other employee salaries and wages...... 70,681 0   70,681
15 Pension plans, employee benefits....... 1,900 0   1,900
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
826 0   826
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
11,231 5,616   5,616
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
90,065 60,065   30,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
23,460 0   13,023
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 6,120 0   6,120
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
27,940 34   27,906
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 324,675 65,715   248,524
25 Contributions, gifts, grants paid....... 2,770,689 2,770,689
26 Total expenses and disbursements. Add lines 24 and 25 3,095,364 65,715   3,019,213
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -30,828
b Net investment income (if negative, enter -0-) 2,715,095
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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 542,872 120,821 120,821
2 Savings and temporary cash investments......... 434,136 583,241 583,241
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 2,042,941 Click to see attachment
List of Attached Documents:
// Content
2,388,889 		2,344,129
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 34,542,300 Click to see attachment
List of Attached Documents:
// Content
34,358,643 		42,029,394
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 37,562,249 37,451,594 45,077,585
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 37,562,249 37,451,594
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 37,562,249 37,451,594
30 Total liabilities and net assets/fund balances (see instructions). 37,562,249 37,451,594
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
37,562,249
2
Enter amount from Part I, line 27a .....................
2
-30,828
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
37,531,421
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
79,827
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
37,451,594
Form 990-PF (2024)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES - LONG TERM      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 17,085,501   15,830,869 1,254,632
b 506,866     506,866
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,254,632
b       506,866
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,761,498
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 37,740
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 37,740
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 37,740
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 12,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 17,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 29,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 8,740
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMD
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowKATE RAWSON POWELL Telephone no.right arrow (410) 837-9400

Located atright arrow1600 WEST 41ST STREET 700BALTIMOREMD ZIP+4right arrow21211
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 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)
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
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 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.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
SUSAN BAKER POWELL TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
JULIA B SCHNUPP TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
BENJAMIN M BAKER III TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
JULIA P O'BRIEN TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
BRENTNALL M POWELL TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
KEVIN A SCHNUPP TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
DAVID B POWELL PRESIDENT/TRUSTEE
2.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
KATE RAWSON POWELL SECRETARY/TREASURER/ED
24.00 		92,452 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
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
HWA FINANCIAL GROUP (CHARLES SCHWAB) INVESTMENT MANAGER 60,065
3448 ELLICOTT CENTER DRIVE STE 101
ELLICOTT CITY,MD21043
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
42,894,887
b
Average of monthly cash balances.......................
1b
581,094
c
Fair market value of all other assets (see instructions)................
1c
24,328
d
Total (add lines 1a, b, and c).........................
1d
43,500,309
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
43,500,309
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
652,505
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
42,847,804
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,142,390
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,142,390
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
37,740
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
37,740
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,104,650
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,104,650
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,104,650
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
3,019,213
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,019,213
Form 990-PF (2024)
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 2,104,650
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...... 68,868
b From 2020...... 82,340
c From 2021...... 181,981
d From 2022...... 190,275
e From 2023...... 35,044
f Total of lines 3a through e ........ 558,508
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,019,213
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..... 2,104,650
e Remaining amount distributed out of corpus 914,563
5 Excess distributions carryover applied to 2024. 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 1,473,071
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) ... 		68,868
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		1,404,203
10 Analysis of line 9:
a Excess from 2020.... 82,340
b Excess from 2021.... 181,981
c Excess from 2022.... 190,275
d Excess from 2023.... 35,044
e Excess from 2024.... 914,563
Form 990-PF (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 or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
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 e-mail address of the person to whom applications should be addressed:
KATE RAWSON POWELL
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
(410) 837-9400
bThe form in which applications should be submitted and information and materials they should include:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
cAny submission deadlines:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
Form 990-PF (2024)
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)
aPaid during the year

29TH STREET COMMUNITY CENTER

300 E 29TH STREET
BALTIMORE,MD21218 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 15,000

4MYCITY INC

333 BURNSIDE AVE
TANEYTOWN,MD21787 		  PC ENVIRONMENT: SUPPORT COMPOSTING PROGRAM TO REDUCE FOOD WASTE IN LANDFILLS. 25,000

ARCHDIOCESE OF BALTIMORE

320 CATHEDRAL STREET 4TH FLOOR
BALTIMORE,MD21201 		  PC EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS 60,000

ARTS EDUCATION IN MARYLAND SCHOOLS ALLIANCE

190 W OSTEND ST STE 200
BALTIMORE,MD21230 		  PC EDUCATION: STUDENTS WILL HAVE ACCESS TO A QUALITY PUBLIC EDUCATION IN PRE-K-12TH GRADE. 15,000

ARTS EVERY DAY

1505 EUTAW PLACE SUITE 204
BALTIMORE,MD21217 		  PC EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN PUBLIC SCHOOLS. 15,000

ARTS FOR LEARNING MARYLAND

21 E NORTH AVENUE 1ST FLOOR
BALTIMORE,MD21202 		  PC EDUCATION (SUMMER LEARNING): SUMMER ARTS FOR LEARNING ACADEMY 10,000

BALTIMORE BANNER

621 EAST PRATT STREET
BALTIMORE,MD21202 		  PC ENVIRONMENT: SUPPORT ENVIRONMENTAL JOURNALISM AND IMPACT. 20,000

BALTIMORE CURRICULUM PROJECT

2707 E FAYETTE STREET
BALTIMORE,MD21224 		  PC EDUCATION (SUMMER LEARNING): WOLFE STREET ACADEMY 15,000

BALTIMORE FAMILY ALLIANCE

1100 WICOMICO ST SUITE 330
BALTIMORE,MD21230 		  PC COMMUNITY DEVELOPMENT: SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. 20,000

BALTIMORE NEIGHBORHOOD DEVELOPMENT CORPORATION

1129 NORTH CAROLINE STREET
BALTIMORE,MD21213 		  PC COMMUNITY DEVELOPMENT: INVEST IN VACANT AND ABANDONED PROPERTIES -WHOLE BLOCKS, NOT JUST INDIVIDUAL HOUSES - WITH QUALITY, MIXED-INCOME HOUSING WITHOUT DISPLACING CURRENT RESIDENTS. 50,000

BALTIMORE SCHOOL FOR THE ARTS FOUNDATION INC

712 CATHEDRAL STREET
BALTIMORE,MD21201 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER SCHOOLS PROGRAMS. 20,000

BALTIMORE SYMPHONY ORCHESTRA

JOSEPH MEYERHOFF SYMPHONY HALL 1212
CATHEDRAL STREET
BALTIMORE,MD21201 		  PC EDUCATION: ORCHKIDS. SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAM. 25,000

BALTIMORE TREE TRUST INC

PO BOX 50188
BALTIMORE,MD21211 		  PC ENVIRONMENT: SUPPORT GREENING EFFORTS THAT ARE VISIBLE TO THE WIDER COMMUNITY. 20,000

BLUE WATER BALTIMORE

1801 EAST OLIVER STREET
BALTIMORE,MD21213 		  PC ENVIRONMENT: SUPPORT EFFORTS TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHEDS IN BALTIMORE. 50,000

BRIDGES BALTIMORE

PO BOX 27805
BALTIMORE,MD21285 		  PC EDUCATION (SUMMER LEARNING) 40,000

BROWN MEMORIAL PRESBYTERIAN CHURCH

1316 PARK AVENUE
BALTIMORE,MD21217 		  PC EDUCATION: BROWN MEMORIAL TUTORING PROGRAM 12,000

BUILDING STEPS

PO BOX 1393
BROOKLAND,MD21022 		  PC EDUCATION: FOSTER BALTIMORE PUBLIC SCHOOL STUDENTS TO PURSUE CAREERS IN STEM. 25,000

CALVERT SCHOOL

105 TUSCANY ROAD
BALTIMORE,MD21201 		  PC EDUCATION: ANNUAL FUND 12,000

CAMP ONAWAY TRUST

PO BOX 339
GLENSIDE,PA19038 		  PC EDUCATION: ANNUAL FUND 4,000

CENTER FOR CLIMATE CHANGE COMMUNICATION

4000 UNIVERSITY DRIVE MS 6A8
FAIRFAX,VA22030 		  PC ENVIRONMENT (YEAR END) 40,000

CENTRAL MARYLAND TRANSPORTATION ALLIANCE

PO BOX 37422
BALTIMORE,MD21297 		  PC COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 25,000

CHESAPEAKE BAY FOUNDATION

6 HERNDON AVENUE
ANNAPOLIS,MD21403 		  PC ENVIRONMENT: SUPPORT EFFORTS IN BALTIMORE TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHED. 50,000

CHILDREN'S SCHOLARSHIP FUND BALTIMORE

PO BOX 5282 B
BALTIMORE,MD21224 		  PC EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS STUDENTS AND PARENTS 50,000

CITY TEACHING ALLIANCE

8 MARKET PLACE SUITE 410
BALTIMORE,MD21202 		  PC EDUCATION: RECRUITMENT, TRAINING, AND SUPPORT OF TEACHERS IN BALTIMORE PUBLIC SCHOOLS. 40,000

CLIMATE ACCESS FUND

9 BEECHDALE ROAD
BALTIMORE,MD21210 		  PC ENVIRONMENT: GENERAL OPERATING 50,000

CLIMATE PARTNERS

1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211 		  PC ENVIRONMENT (CLIMATE CHANGE): SUPPORT COALITION OF LOCAL NON-PROFITS OVERSEEING IMPLEMENTATION OF CLIMATE SOLUTIONS NOW ACT. 50,000

COLLEGEBOUND FOUNDATION

2507 N HOWARD STREET SUITE 200
BALTIMORE,MD21218 		  PC EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN BALTIMORE'S PUBLIC SCHOOLS. 35,000

COMMUNITY LAW CENTER

3355 KESWICK ROAD SUITE 200
BALTIMORE,MD21211 		  PC COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 40,000

CRISTO REY JESUIT HIGH SCHOOL

420 S CHESTER ST
BALTIMORE,MD21231 		  PC EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS. 50,000

DERRYFIELD SCHOOL

2108 RIVER ROAD
MANCHESTER,NH31404 		  PC CLIMATE CHANGE (SOLAR PANELS): 45.6KW ARRAY ON THEIR NEW DINING HALL BUILDING. 119,000

DERRYFIELD SCHOOL

2108 RIVER ROAD
MANCHESTER,NH31404 		  PC EDUCATION (TRUSTEE RECOMMENDED): ANNUAL FUND 4,000

DESIGN CHALLENGE NETWORK

C/O BRENT POWELL 128 PATCH ROAD
HOPKINTON,NH03229 		  PC EDUCATION (TRUSTEE RECOMMENDED) 4,000

EARTHJUSTICE

1001 G STREET NW SUITE 1000
WASHINGTON,DC20001 		  PC CLIMATE CHANGE 75,000

EMMANUEL EPISCOPAL CHURCH

811 CATHEDRAL STREET
BALTIMORE,MD21201 		  PC OTHER: GENERAL OPERATING 12,000

ENOCH PRATT FREE LIBRARY

400 CATHEDRAL STREET
BALTIMORE,MD21201 		  PC EDUCATION: EMERGENT LITERACY PROGRAM. SUPPORT CHILDHOOD LITERACY IN THE VERY EARLIEST YEARS. 25,000

ENOCH PRATT FREE LIBRARY

400 CATHEDRAL STREET
BALTIMORE,MD21201 		  PC COMMUNITY DEVELOPMENT: BRANCH IMPROVEMENT FUND. 35,000

ENVIRONMENTAL DEFENSE FUND

PO BOX 98051
WASHINGTON,DC20090 		  PC CLIMATE CHANGE 75,000

FRIENDS OF PATTERSON PARK

27 S PATTERSON PARK AVE
BALTIMORE,MD21231 		  PC COMMUNITY DEVELOPMENT: SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. 10,000

FRIENDS OF THE JONES FALLS

25 EAST 20TH STREET
BALTIMORE,MD21218 		  PC ENVIRONMENT: SUPPORT EFFORTS IN BALTIMORE TO IMPROVE THE CHESAPEAKE BAY AND ITS WATER SHEDS BY INSTALLING NATURE-BASED SOLUTIONS IN BALTIMORE THAT ARE VISIBLE TO THE WIDER COMMUNITY. 25,000

GARWYN OAKS NORTHWEST HOUSING RESOURCE CENTER INC

2300 GARRISON BLVD SUITE 140
BALTIMORE,MD21216 		  PC COMMUNITY DEVELOPMENT: SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. 15,000

GENERATION180

818 E JEFFERSON STREET SUITE 102
CHARLOTTESVILLE,VA22902 		  PC ENVIRONMENT: ELECTRIFY OUR SCHOOLS MARYLAND CAMPAIGN FOR CLEAN ENERGY 30,000

HEALTHCARE FOR THE HOMELESS

421 FALLSWAY BALTIMORE MD 21202
BALTIMORE,MD21202 		  PC COMMUNITY DEVELOPMENT (YEAR END) 50,000

HELPING OPPRESSED PEOPLE EXCEL (HOPE)

811 CATHEDRAL STREET
BALTIMORE,MD21201 		  PC OTHER (YEAR END) 15,000

HOUSE OF RUTH MARYLAND

2201 ARGONNE DRIVE
BALTIMORE,MD21218 		  PC OTHER (YEAR END) 25,000

I-MENTOR

8 MARKET PLACE SUITE 300 BALTIMORE
MD 21202
BALTIMORE,MD21202 		  PC EDUCATION: PROVIDING MENTOR SERVICES AND CURRICULUM TO EVERY JUNIOR AND SENIOR STUDENT IN PARTNER SCHOOLS WITH A FOCUS ON ACHIEVING POST-SECONDARY SUCCESS. 15,000

INGENUITY PROJECT INC

1400 COLD SPRING LANE
BALTIMORE,MD21209 		  PC EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN BALTIMORE'S PUBLIC SCHOOLS. 35,000

KIPP BALTIMORE

2000 EDGEWOOD STREET
BALTIMORE,MD21216 		  PC EDUCATION (YEAR END): CAPITAL GRANT IN SUPPORT OF THE LIBRARY PROJECT. 50,000

KIPP BALTIMORE

2000 EDGEWOOD STREET
BALTIMORE,MD21216 		  PC EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN PUBLIC SCHOOLS. 35,000

LET'S GO BOYS AND GIRLS INC

2801 SISSON ST SUITE 204
BALTIMORE,MD21211 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 30,000

LEVELING THE PLAYING FIELD

1140 CONNECTICUT AVENUE NW SUITE
1200
WASHINGTON,DC20036 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 25,000

LIVING CLASSROOMS FOUNDATION

1417 THAMES STREET
BALTIMORE,MD21231 		  PC EDUCATION: EARLY CHILDHOOD EDUCATION PROGRAM IN BALTIMORE TARGET INVESTMENT ZONE. 25,000

MARYLAND ALLIANCE OF PUBLIC CHARTER SCHOOLS

1500 UNION AVE SUITE 1330
BALTIMORE,MD21211 		  PC EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS. 25,000

MARYLAND FOOD BANK

2200 HALETHORPE FARMS ROAD
BALTIMORE,MD21227 		  PC OTHER (YEAR END) 33,916

MARYLAND INSTITUTE COLLEGE OF ART (MICA)

1300 W MT ROYAL AVENUE
BALTIMORE,MD21204 		  PC ENVIRONMENT: THE SHED- JONES FALLS WATERSHED PROJECT. 50,000

MARYLAND NONPROFITS

1500 UNION AVENUE SUITE 2500
BALTIMORE,MD21211 		  PC COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 15,000

MIDDLE GRADES PARTNERSHIP

1500 UNION AVENUE
BALTIMORE,MD21211 		  PC EDUCATION (SUMMER LEARNING) 35,000

MODERN CLASSROOMS PROJECT INC

15 14TH ST SE
WASHINGTON,DC20003 		  PC EDUCATION: SUPPORT THE RECRUITMENT, TRAINING AND MENTORING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS. 40,000

MOTHER SETON ACADEMY

2215 GREENMOUNT AVENUE
BALTIMORE,MD21218 		  PC EDUCATION: PROMOTE SCHOOL CHOICE FOR STUDENTS AND PARENTS. 20,000

NATURE SACRED

105 ANNAPOLIS STREET SUITE D
ANNAPOLIS,MD21401 		  PC ENVIRONMENT: SUPPORT GREENING EFFORTS THAT ARE VISIBLE TO THE WIDER COMMUNITY. 25,000

NEIGHBORHOOD DESIGN CENTER

120 W NORTH AVENUE SUITE 306
BALTIMORE,MD21201 		  PC COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 20,000

NEXT ONE UP

PO BOX 22503
BALTIMORE,MD21203 		  PC EDUCATION: TUTORING AND MENTORING BALTIMORE HIGH SCHOOL STUDENTS. 25,000

NO BOUNDARIES COALITION INC

P 0 BOX 12825
BALTIMORE,MD21217 		  PC COMMUNITY DEVELOPMENT: SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. 15,000

PLANNED PARENTHOOD

330 NORTH HOWARD STREET
BALTIMORE,MD21201 		  PC COMMUNITY DEVELOPMENT (YEAR END) 50,000

PORT DISCOVERY CHILDREN'S MUSEUM

35 MARKET PLACE
BALTIMORE,MD21202 		  PC EDUCATION: AT PLAY LEARNING INSTITUTE. 15,000

PROJECT PNEUMA

25 WEST FAYETTE STREET HASKINS
CENTER 6TH FLOOR
BALTIMORE,MD21201 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 25,000

RAILS TO TRAILS CONSERVANCY

2445 M STREET NW SUITE 650
WASHINGTON,DC20037 		  PC COMMUNITY DEVELOPMENT: CREATION OF A 1.8 MIL MULTI-USE TRAIL TRAVERSING CHINQUAPIN RUN PARK. 18,500

REQUITY FOUNDATION INC

2142 PRESSTMAN ST
BALTIMORE,MD21217 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 20,000

SAVE THE SOUND

127 CHURCH STREET 2ND FLOOR
NEW HAVEN,CT06510 		  PC ENVIRONMENT 12,000

SAVE THE SOUND

127 CHURCH STREET 2ND FLOOR
NEW HAVEN,CT06510 		  PC CLIMATE CHANGE: IN SUPPORT OF CLIMATE CHANGE MEDIA STAFF PERSON. 13,000

SIERRA CLUB FOUNDATION (CONNECTICUT CHAPTER)

PO BOX 270595
WEST HARTFORD,CT06127 		  PC CLIMATE CHANGE 35,000

SPRINGBOARD COLLABORATIVE

1500 JOHN F KENNEDY BLVD SUITE 1160
PHILADELPHIA,PA19102 		  PC EDUCATION (SUMMER LEARNING): LITERACY INTERVENTION FOR BALTIMORE CITY SCHOOL CHILDREN. 20,000

ST JOHN'S EPISCOPAL CHURCH

679 FARMINGTON AVENUE
WEST HARTFORD,MD06119 		  PC OTHER 12,000

ST VINCENT DE PAUL OF BALTIMORE

2305 N CHARLES STREET SUITE 300
BALTIMORE,MD21218 		  PC EDUCATION (SUMMER LEARNING): CAMP ST. VINCENT 15,000

STRONG SCHOOLS MARYLAND

800 NORTH CHARLES STREET SUITE 400
BALTIMORE,MD21201 		  PC EDUCATION: SUPPORT EFFORTS TO OVERSEE IMPLEMENTATION OF THE BLUEPRINT FOR MARYLAND'S FUTURE. 50,000

TEACH FOR AMERICA - BALTIMORE

2601 NORTH HOWARD STREET SUITE 300
BALTIMORE,MD21218 		  PC EDUCATION: SUPPORT THE RECRUITMENT, TRAINING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS. 60,000

THE LITERACY LAB

PO BOX 641711
PITTSBURGH,PA15624 		  PC EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN PUBLIC SCHOOLS. 35,000

THREAD INC

PO BOX 1584
BALTIMORE,MD21203 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 50,000

TURNAROUND INC

8503 LASALLE ROAD
TOWSON,MD21286 		  PC OTHER (YEAR END) 25,000

UMBC FOUNDATION INC

1000 HILLTOP ROAD ADMIN 714
BALTIMORE,MD21250 		  PC EDUCATION (SUMMER LEARNING): REACH TOGETHER MATH SUMMER PROGRAM. 15,000

UNION OF CONCERNED SCIENTISTS

1825 K STREET NW SUITE 800
WASHINGTON,DC20006 		  PC CLIMATE CHANGE: CLIMATE PROGRAMS. 25,000

UNIVERSITY OF MARYLAND MEDICAL CENTER MIDTOWN CAMPUS

827 LINDEN AVENUE
BALTIMORE,MD21201 		  PC OTHER: PHARMACY DEPT. TECHNOLOGY. 12,000

VILLAGE LEARNING PLACE

2521 SAINT PAUL STREET
BALTIMORE,MD21218 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS. 20,000

WELL DONE FOUNDATION

PO BOX 10640
BOZEMAN,MT59719 		  PC CLIMATE CHANGE: PLUGGING ORPHANED WELLS IN BUTLER COUNTY, PA. 100,000

WIDE ANGLE YOUTH MEDIA

2601 NORTH HOWARD ST SUITE 160
BALTIMORE,MD21218 		  PC EDUCATION: SUPPORT COST-EFFECTIVE, AFTER-SCHOOL PROGRAMS 21,520

WOODS HOLE OCEANOGRAPHIC INSTITUTION

266 WOODS HOLE ROAD
WOODS HOLE,MA02543 		  PC CLIMATE CHANGE: PURCHASE OF ONE UNDER WATER GLIDER. 75,000

WOODS HOLE OCEANOGRAPHIC INSTITUTION

266 WOODS HOLE ROAD
WOODS HOLE,MA02543 		  PC CLIMATE CHANGE: SOLAR POWER SYSTEM ON DAVID CENTER FOR OCEAN INNOVATION. 125,753
Total .................................right arrow 3a 2,770,689
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
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
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 1,022,224  
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 -134,451  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aREIMBURSEMENT 		900099   01 39,254  
bREWARDS 900099   01 270  
cPARTNERSHIP INCOME REPORTED ON K-1 900099   14 -2,912  
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 924,385 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
924,385
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
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May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
LOCKHART VAUGHAN FOUNDATION
 
Employer identification number

52-1693184
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
LOCKHART VAUGHAN FOUNDATION
  		Employer identification number
52-1693184
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
JOHN & SUSAN POWELL
 
5508 NORMANDY PLACE
 
BALTIMORE, MD21210

$ 1,486,848


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
BEN BAKER
 
1600 WEST 41ST STREET
 
BALTIMORE, MD21211

$ 555,950


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
DAVID B POWELL
 
39 WARRENTON ROAD
 
BALTIMORE, MD21210

$ 97,353


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
LOCKHART VAUGHAN FOUNDATION
  		Employer identification number

52-1693184
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 DONATED SECURITIES $ 1,486,848 2024-04-17
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
2
 DONATED SECURITIES $ 555,950 2024-10-09
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 878 COMMON UNITS, BROWN ADVISORY GROUP HOLDINGS, LLC $ 97,353 2024-11-29
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
LOCKHART VAUGHAN FOUNDATION
  		Employer identification number

52-1693184
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 11,231 5,616   5,616

TY 2024 InvestmentsCorpBondsSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Name of Bond End of Year Book Value End of Year Fair Market Value
ATI INC 5.875% 77,899 77,220
BLACKSTONE MORT 4.375% 78,547 76,741
CDW CORP 4.125% 80,653 77,512
CEDAR FAIR, LP 5.375% 44,762 44,381
CENTENE CORP 38,225 34,650
CENTURY COMMUNITY 6.75% 81,373 77,903
CLEVELAND-CLIFFS 5.875% 70,755 66,330
CRACKER BARREL 0.625% 63,835 67,175
CREDIT ACCEPTAN 6.625% 78,667 77,000
CROWN AMERICAS L 4.75% 70,067 67,065
DANA INC 5.375% 82,885 77,815
DIGITALOCEAN HLDGS 0%26 64,183 67,470
ENACT HOLDINGS 6.25% 43,989 44,772
ENCOMPASS HEALTH 5.75% 81,633 77,805
ENPRO INDUSTRIES 5.75% 80,549 77,610
GOODYEAR TIRE 9.5% 12,785 12,060
GRIFFON CORP 5.75% 77,397 78,400
HILTON WORLDWIDE 4.875% 54,639 51,155
LAS VEGAS SANDS 3.2% 77,679 79,040
PEBBLERBOOK HOTE 1.75% 64,327 67,818
PENSKE AUTOMOTIVE 3.5% 69,266 66,980
SBA COMMUNICATIONS 3.875% 64,646 68,940
SERVICE CORP 42,654 38,850
SNAP INC 0%27 62,499 64,904
SPIRIT AEROSYSTE 3.85% 77,244 77,800
STARWOOD PROPERT 4.75% 37,934 39,000
TEGNA, INC. 44,009 41,690
TELEFLEX INC 4.625% 54,453 49,279
TENET HEALTHCARE 4.625% 78,638 76,904
TITAN INTERNTNL 7% 53,731 51,874
TRANSDIGIM INC 5.5% 77,099 76,440
TREEHOUSE FOODS, IN 4% 78,536 76,925
THE GOODYEAR TIRE 5% 50,696 48,020
THE SCOTT MIRAC 5.25% 79,268 76,440
WESTO INTER 10.625% 76,983 76,050
WESTERN DIGITAL 4.75% 78,845 78,111
CEDAR FAIR, LP 6.5% 37,539 36,000

TY 2024 InvestmentsOtherSchedule2
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
LAZARD INT QUALITY GR INSTL AT COST 2,833,620 2,542,543
SEAFARER OVERSEAS GR AND INC INSTL AT COST 790,912 909,737
T ROWE PRICE CAP APPR FD COST AT COST 6,411,923 7,775,940
VANGUARD ESG INTERNATIONAL STOCK AT COST 3,483,875 3,277,884
VANGUARD ESG US STOCK AT COST 15,576,683 22,326,256
PIMCO TOTAL RETURN ESG AT COST 5,100,000 4,955,577
CONTINENTAL REALTY, LP INTEREST AT COST 144,141 144,141
BROWN ADVISORY GROUP HOLDINGS, LLC AT COST 17,489 97,316

TY 2024 LegalFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 826 0   826


TY 2024 OtherDecreasesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Amount
ADJUSTMENT TO BASIS OF DONATED STOCK 79,827


TY 2024 OtherExpensesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MEMBERSHIPS & SUBSCRIPTIONS 7,310 0   7,310
IT SUPPORT 3,600 0   3,600
INSURANCE 5,686 0   5,686
BANK FEES 645 0   645
SOFTWARE & APPS 1,746 0   1,746
PAYROLL PROCESSING FEES 768 0   768
OFFICE EXPENSE 3,891 0   3,891
WEBSITE AND SYSTEM SUPPORT 4,260 0   4,260
PASSTHROUGH INVESTMENT EXPENSES 34 34   0


TY 2024 OtherIncomeSchedule2
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
REIMBURSEMENT 39,254   39,254
REWARDS 270   270
PARTNERSHIP INCOME REPORTED ON K-1 -2,912 -2,912 -2,912


TY 2024 OtherProfessionalFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 60,065 60,065   0
CONSULTING FEES 30,000 0   30,000


TY 2024 TaxesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAXES 10,437 0   0
PAYROLL TAX 13,023 0   13,023