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
KERN FOUNDATION TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address)THE NORTHERN TRUST COMPANY AS TRUS
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PO BOX CHICAGO, IL60680
A Employer identification number

36-6107250
B Telephone number (see instructions)

(312) 630-6000
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$22,976,484J 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 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 472,893 472,070  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 379,995
b Gross sales price for all assets on line 6a 2,413,663
7 Capital gain net income (from Part IV, line 2)... 379,995
8 Net short-term capital gain......... 0
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
181,824 318,680  
12 Total. Add lines 1 through 11........ 1,034,712 1,170,745  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 129,707 51,988   77,719
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,500 1,250 0 1,250
c Other professional fees (attach schedule)....       0
17 Interest............... 16 16   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
17,163 11,278   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
277 47   230
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 149,663 64,579 0 79,199
25 Contributions, gifts, grants paid....... 1,046,440 1,046,440
26 Total expenses and disbursements. Add lines 24 and 25 1,196,103 64,579 0 1,125,639
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -161,391
b Net investment income (if negative, enter -0-) 1,106,166
c Adjusted net income (if negative, enter -0-)... 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.............   846,027 846,027
2 Savings and temporary cash investments......... 800,897    
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
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)....... 8,909,492 Click to see attachment
List of Attached Documents:
// Content
8,706,477 		14,250,240
c Investments—corporate bonds (attach schedule)....... 5,134,563 Click to see attachment
List of Attached Documents:
// Content
5,077,333 		4,908,258
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).......... 1,641,053 Click to see attachment
List of Attached Documents:
// Content
1,697,479 		2,971,959
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) 16,486,005 16,327,316 22,976,484
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) 6,565  
23 Total liabilities (add lines 17 through 22)......... 6,565 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........ 16,479,440 16,327,316
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 16,479,440 16,327,316
30 Total liabilities and net assets/fund balances (see instructions). 16,486,005 16,327,316
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
16,479,440
2
Enter amount from Part I, line 27a .....................
2
-161,391
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
18,170
4
Add lines 1, 2, and 3 ..........................
4
16,336,219
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
8,903
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
16,327,316
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 25. AAON INC   2022-04-01 2024-04-01
b 40. AAON INC   2023-04-20 2024-04-30
c 22. AAON INC   2019-03-27 2024-07-05
d 2472.19 MFO INVESCO DEVELOPING MARKETS FUND   2021-12-14 2024-07-03
e 23. ACI WORLDWIDE INC COM STK   2020-08-21 2024-04-01
50. ACI WORLDWIDE INC COM STK   2020-09-14 2024-07-05
66. ACI WORLDWIDE INC COM STK   2023-03-09 2024-12-02
10. AGILENT TECHNOLOGIES INC   2020-04-20 2024-11-05
12. AKAMAI TECHNOLOGIES INC   2021-06-10 2024-11-05
9. ALAMO GROUP INC COM   2019-03-27 2024-02-01
46. ALARM COM HLDGS INC COM   2024-11-11 2024-12-06
45000. AMERICAN EXPRESS CO 5.043% DUE 05-01-2034/05-01-2033 BEO   2023-04-26 2024-07-22
7. AMERICOLD RLTY TR INC COM   2020-04-20 2024-11-05
3. AMERISOURCE BERGEN CORP   2020-04-20 2024-11-05
19. APPLIED MATERIALS INC   2020-04-20 2024-07-18
6. ARROW ELECTRONICS INC   2021-01-13 2024-11-05
3. #REORG/ATRION CORP MERGER 08-22-2024   2024-03-15 2024-04-01
23. #REORG/ATRION CORP MERGER 08-22-2024   2024-03-19 2024-08-22
17. BALCHEM CORP COM   2022-03-02 2024-07-08
45000. BANK OF NOVA SCOTIA 4.85% DUE 02-01-2030   2023-01-24 2024-09-04
11. #REORG/BEACON ROOFING SUPPLY INC COM MERGER 04-29-2025   2023-01-20 2024-04-01
45. #REORG/BEACON ROOFING SUPPLY INC COM MERGER 04-29-2025   2023-11-06 2024-11-08
42. #REORG/BEACON ROOFING SUPPLY INC COM MERGER 04-29-2025   2023-04-06 2024-12-06
45. BLACKBAUD INC COM   2022-01-10 2024-04-26
50000. BLACKROCK FUNDING INC 4.7% 03-14-2029   2024-03-05 2024-07-17
5. BROADRIDGE FINL SOLUTIONS INC COM STK   2021-10-08 2024-11-05
53. CBIZ INC COM   2023-11-08 2024-11-08
14. CBIZ INC COM   2022-10-06 2024-11-08
6. CBRE GROUP INC CL A CL A   2020-04-20 2024-11-05
13. CSW INDUSTRIALS INC COM   2023-08-24 2024-04-26
7. CSW INDUSTRIALS INC COM   2023-06-30 2024-07-05
7. CSW INDUSTRIALS INC COM   2023-06-30 2024-11-11
16. CABOT OIL & GAS CORP CL A   2020-06-11 2024-11-05
208. #REORG/CATALENT MERGER 12-18-2024   2023-08-08 2024-02-08
216. #REORG/CATALENT MERGER 12-18-2024   2022-10-31 2024-02-08
.25 CENTRAL GARDEN & PET CO CL A   2022-04-01 2024-02-09
55. CENTRAL GARDEN & PET CO CL A   2022-04-01 2024-02-14
12.99999 ENOVIS CORPORATION COM USD0.001   2023-07-13 2024-08-15
29.00001 ENOVIS CORPORATION COM USD0.001   2023-07-13 2024-08-15
38. COLUMBIA BKG SYS INC COM   2019-03-27 2024-03-27
28. COLUMBIA BKG SYS INC COM   2023-08-24 2024-06-11
258. COLUMBIA BKG SYS INC COM   2020-07-20 2024-06-11
29. COMMVAULT SYS INC COM STK   2021-06-04 2024-02-01
27. COMMVAULT SYS INC COM STK   2021-06-04 2024-06-10
11. COMMVAULT SYS INC COM STK   2021-06-04 2024-07-05
3. CUMMINS ENGINE INC   2020-04-20 2024-11-05
2. D R HORTON INC   2020-04-20 2024-11-05
6. DARDEN RESTAURANTS INC   2020-04-20 2024-11-05
50000. DEERE JOHN CAP CORP MEDIUM TERM NTS-BOOKENTRY 5.15% 09-08-2026   2023-09-05 2024-03-14
37. DORMAN PRODS INC COM   2023-05-10 2024-08-07
2. DOVER CORP   2023-08-08 2024-11-05
38. #REORG/ENVESTNET MERGER 11-25-2024   2023-03-09 2024-06-03
14. #REORG/ENVESTNET MERGER 11-25-2024   2019-08-20 2024-09-20
1. #REORG/ENVESTNET MERGER 11-25-2024   2024-03-27 2024-10-02
91. #REORG/ENVESTNET MERGER 11-25-2024   2022-09-27 2024-10-02
34. #REORG/ENVESTNET MERGER 11-25-2024   2024-03-27 2024-11-07
102. #REORG/ENVESTNET MERGER 11-25-2024   2023-10-31 2024-11-07
133. ENVISTA HLDGS CORP COM   2023-11-21 2024-08-15
16. EXPONENT INC COM STK   2022-01-10 2024-02-22
28. EXPONENT INC COM STK   2019-03-27 2024-07-08
6. EXPONENT INC COM STK   2019-03-27 2024-08-07
15. FTI CONSULTING INC   2022-08-05 2024-01-10
20. FTI CONSULTING INC   2023-01-20 2024-02-22
16. FTI CONSULTING INC   2023-05-04 2024-05-15
4. FTI CONSULTING INC   2023-12-06 2024-06-17
20. FTI CONSULTING INC   2019-06-06 2024-06-17
50000. FNMA 2.625% DUE 09-06-2024   2022-05-27 2024-09-06
7500. MFC FLEXSHARES TRUST QUALITY DIVID INDEXFD   2014-02-21 2024-07-03
52.99998 FORWARD AIR CORPORATION   2023-01-24 2024-02-22
43.00002 FORWARD AIR CORPORATION   2021-08-03 2024-02-22
65. FORWARD AIR CORPORATION   2023-12-29 2024-03-04
134. FORWARD AIR CORPORATION   2021-08-03 2024-03-04
40. FRONTDOOR INC COM   2019-03-27 2024-08-07
19. GENERAL DYNAMICS CORP   2021-02-24 2024-07-18
20000. GOLDMAN SACHS GROUP INC 3.625% DUE 02-20-2024/01-20-2024 REG   2019-02-13 2024-02-20
25000. GOLDMAN SACHS GROUP INC 1.992% DUE 01-27-2032 REG   2021-01-20 2024-10-16
21. HAMILTON LANE INC CL A CL A   2022-09-19 2024-07-05
19. HAMILTON LANE INC CL A CL A   2023-09-25 2024-10-07
20. HOULIHAN LOKEY INC CL A CL A   2022-04-01 2024-01-11
30. HOULIHAN LOKEY INC CL A CL A   2022-04-01 2024-05-09
21. HOULIHAN LOKEY INC CL A CL A   2019-12-02 2024-05-30
19. HOULIHAN LOKEY INC CL A CL A   2019-12-02 2024-06-06
19. HOULIHAN LOKEY INC CL A CL A   2024-06-03 2024-06-12
21. HOULIHAN LOKEY INC CL A CL A   2019-12-02 2024-06-12
19. HURON CONSULTING GROUP INC COM STK   2023-06-02 2024-06-06
16. ICU MED INC COM   2020-05-22 2024-04-01
14. ICU MED INC COM   2020-07-20 2024-07-05
21. INSIGHT ENTERPRISES INC   2023-03-03 2024-09-06
123. INTEGRA LIFESCIENCES CORP HLDGS NEW   2022-07-06 2024-06-03
93. INTEGRA LIFESCIENCES CORP HLDGS NEW   2020-11-03 2024-08-15
23.0002 INTEGRA LIFESCIENCES CORP HLDGS NEW   2020-11-03 2024-11-08
119.9998 INTEGRA LIFESCIENCES CORP HLDGS NEW   2020-08-10 2024-11-08
2. INTERPARFUMS INC   2023-03-15 2024-07-05
10.99956 INTERPARFUMS INC   2023-03-15 2024-08-07
33.00044 INTERPARFUMS INC   2023-03-15 2024-08-07
22. INTERPARFUMS INC   2023-08-15 2024-12-06
18. INTERPARFUMS INC   2023-03-15 2024-12-06
7. INTERCONTINENTAL EXCHANGE INC COM   2020-04-20 2024-11-05
14. J & J SNACK FOODS CORP COM STK NPV   2019-03-27 2024-03-27
18. J & J SNACK FOODS CORP COM STK NPV   2019-03-27 2024-07-08
40000. JPMORGAN CHASE & CO 4.912% DUE 07-25-2033/07-25-2032 BEO   2022-07-18 2024-04-15
10000. JPMORGAN CHASE & CO. 5.336% 01-23-2035   2024-01-16 2024-07-15
4. KEYSIGHT TECHNOLOGIES INC COM   2020-04-20 2024-11-05
17. KIRBY EXPLORATION, INC.   2019-08-20 2024-04-01
38. KIRBY EXPLORATION, INC.   2022-05-06 2024-04-26
125. LUMENTUM HLDGS INC COM   2022-02-25 2024-08-07
55. LUMENTUM HLDGS INC COM   2023-08-08 2024-08-08
137. LUMENTUM HLDGS INC COM   2022-02-25 2024-08-08
35000. MASTERCARD INC 2.0% 11-18-2031   2021-11-15 2024-05-07
55000. MASTERCARD INC 4.875% 05-09-2034   2024-05-07 2024-09-03
12. MCGRATH RENTCORP COM   2022-08-31 2024-02-01
35000. MEAD JOHNSON NUTRITION CO 4.125% DUE 11-15-2025/11-03-2015 REG   2020-01-28 2024-07-24
20. MESA LABS INC COM   2023-03-09 2024-10-07
10. MESA LABS INC COM   2023-03-09 2024-10-08
50000. METLIFE INC 5.375% 07-15-2033   2023-07-14 2024-03-14
87. MONRO MUFFLER BRAKE INC   2021-06-10 2024-01-11
48. MONRO MUFFLER BRAKE INC   2023-11-06 2024-06-20
136. MONRO MUFFLER BRAKE INC   2022-03-02 2024-06-20
12. MOOG INC CL A   2020-02-21 2024-01-22
13. MOOG INC CL A   2023-04-20 2024-06-03
15. MOOG INC CL A   2023-08-24 2024-09-10
14. MOOG INC CL A   2023-07-18 2024-11-08
25000. MORGAN STANLEY 1.593% DUE 05-04-2027 BEO   2021-04-19 2024-07-17
39. NATIONAL RESH CORP COM NEW CL A   2021-04-29 2024-03-27
41. NATIONAL RESH CORP COM NEW CL A   2021-10-12 2024-03-28
119. NATIONAL RESH CORP COM NEW CL A   2022-10-07 2024-08-15
80. NATIONAL RESH CORP COM NEW CL A   2022-10-07 2024-08-16
21. PJT PARTNERS INC COM CL A COM CL A   2024-09-13 2024-12-11
5. PACKAGING CORP AMER   2020-04-20 2024-11-05
31. PATTERSON COMPANIES INC   2020-11-03 2024-03-27
50000. PEPSICO INC 5.125% 11-10-2026   2023-11-08 2024-07-12
134. #REORG/PERFICIENT MERGER 10-02-2024   2023-06-02 2024-07-19
146. #REORG/PERFICIENT MERGER 10-02-2024   2024-05-02 2024-08-19
149. #REORG/PERFICIENT MERGER 10-02-2024   2023-08-15 2024-08-19
75000. PHILIP MORRIS INTL INC 1.5% DUE 05-01-2025/05-01-2020 REG   2020-04-29 2024-07-12
10. POWER INTEGRATIONS INC   2021-12-30 2024-03-27
10.00142 POWER INTEGRATIONS INC   2022-09-27 2024-10-04
39.99858 POWER INTEGRATIONS INC   2022-09-27 2024-10-04
3. PROGRESSIVE CORP OHIO   2020-04-20 2024-11-05
14. QUALYS INC COM USD0.001   2023-01-20 2024-01-22
35. QUALYS INC COM USD0.001   2023-01-20 2024-02-22
12. QUALYS INC COM USD0.001   2020-02-20 2024-04-30
4. QUALYS INC COM USD0.001   2023-05-04 2024-07-05
25. QUALYS INC COM USD0.001   2023-05-04 2024-08-15
22. QUALYS INC COM USD0.001   2023-08-22 2024-11-08
19. R L I CORPORATION   2020-05-22 2024-04-26
9. RAYMOND JAMES FINANCIAL INC   2020-04-20 2024-11-05
29. REPUBLIC SVCS INC   2020-04-20 2024-07-18
50000. ROYAL BK CDA GLOBAL MEDIUM TERM SR BK NT5.2% 08-01-2028   2023-07-13 2024-07-15
11. SCOTTS CO CL A   2022-03-21 2024-11-05
30. SELECTIVE INS GROUP INC   2023-01-20 2024-02-01
69. SILGAN HOLDINGS INC COM   2023-07-31 2024-08-07
4. SIMPSON MFG INC COMMON STOCK   2022-09-27 2024-01-11
13. SIMPSON MFG INC COMMON STOCK   2022-09-27 2024-01-22
32. SIMPSON MFG INC COMMON STOCK   2019-03-27 2024-02-08
17. SIMPSON MFG INC COMMON STOCK   2020-03-25 2024-03-01
5. SIMPSON MFG INC COMMON STOCK   2023-05-10 2024-05-14
2. SNAP ON INC   2020-04-20 2024-11-05
25. #REORG/ SOUTHSTATE MERGER 2E1MAJ5 09-02-2025   2022-04-01 2024-08-07
355. SPIRIT AEROSYSTEMS HLDGS INC CL A   2022-07-27 2024-03-11
493. SPIRIT AEROSYSTEMS HLDGS INC CL A   2023-06-20 2024-07-18
62. SPROUTS FMRS MKT INC COM   2021-05-03 2024-04-01
42. SPROUTS FMRS MKT INC COM   2021-05-03 2024-06-03
63. SPROUTS FMRS MKT INC COM   2021-10-07 2024-06-13
62. SPROUTS FMRS MKT INC COM   2023-12-06 2024-09-18
42. SPROUTS FMRS MKT INC COM   2021-10-07 2024-09-18
20000. STATE STREET CORP 1.746% 02-06-2026   2022-02-02 2024-07-24
38. STEPAN CO   2022-12-09 2024-03-27
96. STERICYCLE INC   2020-04-20 2024-08-07
185. STERICYCLE INC   2020-04-20 2024-08-08
29. SYNOPSYS INC   2020-04-20 2024-02-08
9. SYNOPSYS INC   2020-04-20 2024-07-18
59. TJX COS INC NEW   2020-04-20 2024-09-19
40000. TARGET CORP 1.95% 01-15-2027   2022-01-19 2024-09-03
47. #REORG/TECHTARGET MERGER TECHTARGET 281CAD4 12-03-2024   2022-10-19 2024-05-14
76. #REORG/TECHTARGET MERGER TECHTARGET 281CAD4 12-03-2024   2023-01-20 2024-08-12
103. #REORG/TECHTARGET MERGER TECHTARGET 281CAD4 12-03-2024   2024-04-01 2024-08-13
181. #REORG/TECHTARGET MERGER TECHTARGET 281CAD4 12-03-2024   2023-02-13 2024-08-13
50000. TORONTO DOMINION BANK 5.532% 07-17-2026   2023-07-10 2024-08-13
2. UFP TECHNOLOGIES INC COM   2023-11-29 2024-07-05
50000. UNILEVER CAP CORP 1.375% DUE 09-14-2030 REG   2020-09-08 2024-08-07
40000. UNITED STATES TREAS NTS 2.125% DUE 07-31-2024   2022-02-17 2024-07-31
50000. US TREASURY N/B DTD 12/31/2017 2.25% 12-31-2024   2018-01-23 2024-12-31
25000. WI UNITED STATES OF AMER TREAS T NOTE 2.375% DUE 02-29-2024   2022-02-15 2024-02-29
25000. UNITED STATES TREAS NTS 2.125% 03-31-2024   2022-02-15 2024-04-01
75000. UNITED STS TREAS NTS DTD .125% 01-15-2024   2021-01-28 2024-01-16
40000. UNITED STATES OF AMER TREAS NOTES .875% DUE 01-31-2024 BEO   2022-01-31 2024-01-31
100000. UNITED STATES TREAS NTS 2.5% 05-31-2024   2023-05-17 2024-05-31
40000. UNITEDHEALTH GROUP INC 4.2% 05-15-2032   2022-06-13 2024-07-23
3. WOODWARD GOVERNOR COMPANY   2020-04-20 2024-11-05
3. RENAISSANCERE HOLDINGS LTD   2021-02-24 2024-11-05
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CAPITAL GAIN DIVIDENDS P    
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CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,181   935 1,246
b 3,757   1,445 2,312
c 1,916   652 1,264
d 100,000   104,870 -4,870
e 747   686 61
1,968   1,395 573
3,686   1,694 1,992
1,404   773 631
1,208   1,428 -220
1,900   887 1,013
3,153   2,845 308
44,442   45,000 -558
181   225 -44
705   269 436
4,131   972 3,159
711   627 84
1,279   1,282 -3
10,580   9,818 762
2,755   2,662 93
45,903   45,039 864
1,091   584 507
4,659   2,912 1,747
4,694   2,294 2,400
3,519   3,246 273
50,214   49,980 234
1,083   845 238
4,140   2,960 1,180
1,094   637 457
801   255 546
3,094   2,267 827
1,905   1,161 744
2,949   1,161 1,788
370   115 255
11,783   12,891 -1,108
12,236   21,910 -9,674
9   8 1
2,034   1,188 846
567   854 -287
1,264   1,906 -642
708   1,063 -355
515   549 -34
4,748   5,726 -978
2,657   2,271 386
3,115   2,115 1,000
1,365   862 503
1,059   438 621
345   76 269
964   371 593
50,226   49,965 261
3,917   3,291 626
383   287 96
2,468   2,302 166
876   799 77
63   57 6
5,693   4,694 999
2,138   1,950 188
6,413   3,844 2,569
2,384   3,197 -813
1,230   1,609 -379
2,638   1,609 1,029
616   345 271
2,941   1,583 1,358
4,418   3,166 1,252
3,564   2,554 1,010
832   892 -60
4,158   1,719 2,439
50,000   50,101 -101
501,567   247,125 254,442
2,071   5,508 -3,437
1,681   3,528 -1,847
2,012   4,217 -2,205
4,148   8,880 -4,732
1,795   1,319 476
5,571   3,200 2,371
20,000   19,976 24
21,225   25,000 -3,775
2,663   1,491 1,172
3,284   1,714 1,570
2,253   1,812 441
4,006   1,959 2,047
2,814   1,002 1,812
2,496   906 1,590
2,460   2,538 -78
2,719   1,002 1,717
1,829   1,549 280
1,697   3,454 -1,757
1,653   2,690 -1,037
4,177   2,887 1,290
3,876   7,202 -3,326
2,025   4,577 -2,552
581   1,129 -548
3,029   6,101 -3,072
228   277 -49
1,463   1,526 -63
4,388   4,578 -190
3,005   3,002 3
2,459   2,497 -38
1,099   621 478
2,010   2,228 -218
2,990   2,864 126
37,930   40,066 -2,136
10,040   10,000 40
620   380 240
1,611   1,275 336
4,239   2,529 1,710
5,086   12,595 -7,509
2,310   2,906 -596
5,754   13,805 -8,051
28,622   34,861 -6,239
56,453   54,417 2,036
1,522   1,009 513
34,547   38,721 -4,174
2,545   3,763 -1,218
1,256   1,472 -216
50,481   50,775 -294
2,444   6,878 -4,434
1,092   1,279 -187
3,094   6,743 -3,649
1,727   977 750
2,173   1,289 884
2,796   1,712 1,084
3,098   1,443 1,655
23,459   25,031 -1,572
1,540   1,938 -398
1,620   1,911 -291
2,560   4,981 -2,421
1,701   2,976 -1,275
3,458   2,388 1,070
1,162   432 730
850   736 114
50,563   49,987 576
10,030   12,705 -2,675
10,952   7,264 3,688
11,177   10,184 993
72,791   74,634 -1,843
697   934 -237
636   663 -27
2,545   3,054 -509
739   244 495
2,752   1,488 1,264
5,670   3,670 2,000
1,985   1,050 935
581   433 148
3,143   2,221 922
3,366   3,203 163
2,755   1,377 1,378
1,312   370 942
5,943   2,271 3,672
50,762   49,977 785
1,018   1,417 -399
2,903   2,666 237
3,395   3,073 322
730   315 415
2,400   941 1,459
6,083   1,849 4,234
3,544   956 2,588
879   627 252
667   230 437
2,234   1,866 368
12,227   11,946 281
17,390   15,564 1,826
3,951   1,643 2,308
3,289   1,113 2,176
4,741   1,580 3,161
6,502   2,839 3,663
4,405   942 3,463
19,601   20,000 -399
3,386   4,261 -875
5,598   4,516 1,082
10,787   8,702 2,085
16,516   4,409 12,107
4,983   1,368 3,615
6,981   2,829 4,152
38,191   40,020 -1,829
1,383   2,980 -1,597
2,020   3,709 -1,689
2,747   2,908 -161
4,828   8,027 -3,199
50,829   50,000 829
585   342 243
41,791   50,072 -8,281
40,000   40,505 -505
50,000   49,064 936
25,000   25,389 -389
25,000   25,251 -251
75,000   74,856 144
40,000   39,763 237
100,000   97,656 2,344
37,979   39,334 -1,355
500   162 338
800   495 305
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
      97,460
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       1,246
b       2,312
c       1,264
d       -4,870
e       61
      573
      1,992
      631
      -220
      1,013
      308
      -558
      -44
      436
      3,159
      84
      -3
      762
      93
      864
      507
      1,747
      2,400
      273
      234
      238
      1,180
      457
      546
      827
      744
      1,788
      255
      -1,108
      -9,674
      1
      846
      -287
      -642
      -355
      -34
      -978
      386
      1,000
      503
      621
      269
      593
      261
      626
      96
      166
      77
      6
      999
      188
      2,569
      -813
      -379
      1,029
      271
      1,358
      1,252
      1,010
      -60
      2,439
      -101
      254,442
      -3,437
      -1,847
      -2,205
      -4,732
      476
      2,371
      24
      -3,775
      1,172
      1,570
      441
      2,047
      1,812
      1,590
      -78
      1,717
      280
      -1,757
      -1,037
      1,290
      -3,326
      -2,552
      -548
      -3,072
      -49
      -63
      -190
      3
      -38
      478
      -218
      126
      -2,136
      40
      240
      336
      1,710
      -7,509
      -596
      -8,051
      -6,239
      2,036
      513
      -4,174
      -1,218
      -216
      -294
      -4,434
      -187
      -3,649
      750
      884
      1,084
      1,655
      -1,572
      -398
      -291
      -2,421
      -1,275
      1,070
      730
      114
      576
      -2,675
      3,688
      993
      -1,843
      -237
      -27
      -509
      495
      1,264
      2,000
      935
      148
      922
      163
      1,378
      942
      3,672
      785
      -399
      237
      322
      415
      1,459
      4,234
      2,588
      252
      437
      368
      281
      1,826
      2,308
      2,176
      3,161
      3,663
      3,463
      -399
      -875
      1,082
      2,085
      12,107
      3,615
      4,152
      -1,829
      -1,597
      -1,689
      -161
      -3,199
      829
      243
      -8,281
      -505
      936
      -389
      -251
      144
      237
      2,344
      -1,355
      338
      305
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 379,995
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 15,376
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 15,376
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 15,376
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 29,799
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 29,799
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 14,423
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow7,688 Refundedright arrow 11 6,735
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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 arrowIL
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 arrowTHE NORTHERN TRUST COMPANY Telephone no.right arrow (312) 630-6000

Located atright arrowPO BOX 803878CHICAGOIL ZIP+4right arrow60680
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
THE NORTHERN TRUST COMPANY TRUSTEE
40 		129,707    
PO BOX 803878
CHICAGO,IL60680
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
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
22,636,007
b
Average of monthly cash balances.......................
1b
0
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
22,636,007
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
22,636,007
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
339,540
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
22,296,467
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,114,823
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
1,114,823
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
15,376
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
15,376
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,099,447
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,099,447
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
1,099,447
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
1,125,639
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,125,639
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 1,099,447
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...... 340,829
b From 2020...... 138,070
c From 2021...... 0
d From 2022...... 103,817
e From 2023...... 117,251
f Total of lines 3a through e ........ 699,967
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,125,639
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..... 1,099,447
e Remaining amount distributed out of corpus 26,192
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 5 726,159
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) ... 		340,829
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		385,330
10 Analysis of line 9:
a Excess from 2020.... 138,070
b Excess from 2021.... 0
c Excess from 2022.... 103,817
d Excess from 2023.... 117,251
e Excess from 2024.... 26,192
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 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)
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

KROTONA INSTITUTE OF THEOSOPHY

2 KROTONA ST
OJAI,CA930233901 		NONE PC GENERAL SUPPORT 110,510

THEOSOPHICAL SOCIETY IN AMERICA

PO BOX 270
WHEATON,IL60187 		NONE PC GENERAL SUPPORT 920,930

THE THEOSOPHICAL ORDER OF SERVICE USA

PO BOX 973
WHEATON,IL60187 		NONE PC GENERAL SUPPORT 15,000
Total .................................right arrow 3a 1,046,440
bApproved for future payment
Total ................................. right arrow 3b  
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 ....     14 472,893  
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 .....       0  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 379,995  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPROCEEDS FROM FORM 		    1 2,279  
bSTATE TAX REFUND     1 121  
cMFO BLACKROCK FDS     1 183  
dBSTN PPTYS INC     1 9  
eMFO CAUSEWAY CAP M     1 332  
fMFO DFA INVT DIMEN     1 144  
gPE CORE FUND IX 900099 -1,093 1 -9,484  
hPE CORE FUND VI 900099 -135,884 1 325,217  
12 Subtotal. Add columns (b), (d), and (e) .. -136,977 1,171,689  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,034,712
(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.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name 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

TY 2024 AccountingFeesSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 2,500 1,250   1,250

TY 2024 InvestmentsCorpBondsSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Name of Bond End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE    
C09260B630 MFO BLACKROCK FDS V 924,975 923,057
C33939L886 MFC ETF FLEXSHARES 299,330 300,684
C023135CH7 AMAZON COM INC 3.6% 39,927 37,041
C025816DW6 AMERN EXPRESS CO 5. 45,000 44,510
C02665WDW8 AMERN HONDA FIN 2% 24,999 22,869
C03076CAM8 AMERIPRISE FINANCIA 44,891 44,885
C032654AU9 ANALOG DEVICES INC 39,967 35,903
C037833ET3 APPLE INC 4.0% 05-1 44,913 44,309
C039482AD6 ARCHER DANIELS FIXE 39,917 34,553
C046353AL2 ASTRAZENECA PLC 3.3 53,423 49,508
C053015AF0 AUTO DATA 1.25% DUE 49,873 41,522
C06051GLG2 BANK OF AMERICA COR 45,000 45,209
C06368LGV2 BANK MONTREAL QUE F 44,998 45,346
C06406RBT3 BANK OF NEW YORK ME 50,000 52,524
C06418GAN7 BANK NOVA SCOTIA B 40,000 38,751
C084664DA6 BERKSHIRE HATHAWAY 39,986 35,056
C09290DAJ0 BLACKROCK FDG INC 4 39,904 39,221
C10373QAT7 BP CAP MKTS AMER IN 45,000 44,196
C110122DQ8 BRISTOL MYERS SQUIB 49,974 41,425
C12189TAA2 BURL NORTHN SANTA 7 24,240 20,479
C12572QAK1 CME GROUP INC 2.65% 39,926 34,473
C13607LNG4 CANADIAN IMPERIAL B 45,000 45,130
C14913UAA8 CATERPILLAR FINANCI 44,979 44,937
C17275RBT8 CISCO SYS INC 5.05% 49,950 49,873
C172967NL1 CITIGROUP INC 3.29% 40,000 39,852
C191216DR8 COCA COLA CO 5.0% 0 54,920 55,028
C194162AN3 COLGATE-PALMOLIVE C 45,040 43,534
C20030NDM0 COMCAST CORP NEW 1. 49,975 41,830
C254687FQ4 DISNEY WALT CO 3.8% 28,232 23,946
C26884ABN2 ERP OPERATING LP 1. 34,829 28,882
C30303M8T2 META PLATFORMS INC 44,978 44,265
C3130B2PJ8 FEDERAL HOME LOAN B 30,033 29,777
C369550BP2 GENERAL DYNAMICS CO 25,067 21,342
C38141GB78 GOLDMAN SACHS GROUP 45,000 43,095
C437076CS9 HOME DEPOT INC 4.5% 44,946 43,811
C438516CF1 HONEYWELL INTL INC 34,916 28,695
C458140BZ2 INTEL CORP 4.0% 08- 44,888 42,861
C45866FAU8 INTERCONTINENTAL EX 40,000 39,344
C459200KT7 IBM CORP 4.15% DUE 44,942 44,479
C46647PEH5 JPMORGAN CHASE & CO 20,000 20,464
C46647PEK8 JPMORGAN CHASE & CO 20,000 19,787
C57636QBC7 MASTERCARD INC 4.55 39,910 38,225
C61747YFS9 MORGAN STANLEY 5.04 45,000 44,840
C67021CAR8 NSTAR ELEC CO 1.95% 29,859 24,902
C67066GAM6 NVIDIA CORP 1.55% 39,898 36,320
C70450YAK9 PAYPAL HOLDINGS INC 40,023 39,426
C71713UAW2 PHARMACIA LLC 6.6% 30,903 26,576
C718172DM8 PHILIP MORRIS INTL 49,632 49,572
C742718FZ7 PROCTER & GAMBLE CO 44,954 44,417
C743315AY9 PROGRESSIVE CORP OH 39,985 38,302
C74460DAH2 PUBLIC STORAGE 1.95 40,055 35,996
C78016HZZ6 ROYAL BANK OF CANAD 40,016 39,689
C78409VAS3 S&P GLOBAL INC 1.25 49,927 41,384
C79466LAH7 SALESFORCE.COM INC 39,910 35,941
C808513BS3 SCHWAB CHARLES CORP 24,951 21,256
C854502AQ4 STANLEY BLACK & DEC 39,921 34,286
C857477BQ5 STATE STREET CORP 15,000 14,206
C87612EBS4 TARGET CORP 4.5% 09 39,877 38,057
C88579YBM2 3M CO 2.65% DUE 04- 14,988 14,900
C89236TLM5 TOYOTA MOTOR CREDIT 49,945 48,597
C89788MAG7 TRUIST FINL CORP SR 40,000 39,268
C904764BV8 UNILEVER CAPITAL CO 44,560 43,354
C9128282R0 UNITED STATES OF AM 25,306 23,761
C9128283W8 UNITED STATES TREAS 24,896 23,868
C9128286F2 UNITED STATES TREAS 49,637 49,018
C9128286T2 US TREASURY N/B 2.3 25,850 23,041
C912828J27 UNITED STATES TREAS 45,265 44,872
C912828V98 UNITED STATES TREAS 20,319 19,191
C912828X88 UNITED STATES OF AM 25,396 23,939
C912828YQ7 DTD 10/31/2019 1.62 74,707 71,569
C912828YU8 WI TREASURY SEC. 1. 39,483 38,086
C912828YX2 UTD STATES TREAS 1. 49,857 47,639
C912828ZS2 UNITED STATES TREAS 24,975 22,856
C912828ZT0 UNITED STATES TREAS 74,757 73,783
C91282CAB7 UNITED STS TREAS NT 65,074 63,522
C91282CEC1 UNITED STATES OF AM 49,480 47,561
C91282CEH0 UNITED STATES TREAS 39,959 39,813
C91282CGJ4 UNITED STATES OF AM 98,664 95,926
C91282CGL9 UNITED STATES TREAS 99,773 99,734
C91282CGX3 UNITED STATES OF AM 99,477 99,848
C91282CHY0 UNITED STATES TREAS 99,383 100,590
C91282CJZ5 UNITED STATES OF AM 122,188 119,692
C91282CLB5 UNITED STATES TREAS 99,863 100,160
C91282CLP4 UNITED STATES OF AM 124,775 123,418
C91324PFJ6 UNITEDHEALTH GROUP 44,997 44,390
C961214EW9 WESTPAC BANKING COR 40,000 36,014

TY 2024 InvestmentsCorpStockSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Name of Stock End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE    
C00143W859 MFO INVESCO DEVELOP 824,074 874,385
C14949P208 MFO CAUSEWAY CAP MG 939,935 1,080,060
C233203413 MFO DFA INVT DIMENS 1,263,502 3,134,909
C33939L795 MFC FLEXSHARES TRUS 295,913 319,102
C33939L860 MFC FLEXSHARES TRUS 1,089,887 2,333,582
C464287655 MFC ISHARES TR RUSS 438,588 621,340
C552966806 MFO MFS INSTL INTL 550,000 661,016
C665162772 MFB NORTHERN FUNDS 1,503,171 2,706,042
C00846U101 AGILENT TECHNOLOGIE 14,219 24,719
C00912X302 AIR LEASE CORP CL A 21,361 30,421
C00971T101 AKAMAI TECHNOLOGIES 26,502 25,060
C012653101 ALBEMARLE CORP COM 13,324 15,236
C03073E105 CENCORA INC 10,145 25,389
C03662Q105 ANSYS INC COM 26,019 32,384
C038222105 APPLIED MATERIALS I 5,471 17,401
C042735100 ARROW ELECTR INC CO 10,393 18,439
C090572207 BIO RAD LABORATORIE 27,469 22,010
C11133T103 BROADRIDGE FINL SOL 19,054 25,548
C12504L109 CBRE GROUP INC CL A 15,639 48,315
C126408103 CSX CORP COM STK 15,561 22,847
C127097103 COTERRA ENERGY INC 5,187 21,658
C15135B101 CENTENE CORP DEL CO 23,753 21,748
C15872M104 CHAMPIONX CORPORATI 13,005 12,643
C231021106 CUMMINS INC 11,107 26,494
C23331A109 D R HORTON INC COM 8,406 30,760
C237194105 DARDEN RESTAURANTS 11,385 34,351
C24906P109 DENTSPLY SIRONA INC 20,021 9,281
C260003108 DOVER CORP COM USD1 15,216 29,078
C277432100 EASTMAN CHEM CO COM 14,240 20,456
C29362U104 ENTEGRIS INC COM 30,789 28,926
C361448103 GATX CORP COM 8,072 23,709
C369550108 GENERAL DYNAMICS CO 9,836 18,971
C37940X102 GLOBAL PMTS INC COM 28,942 23,757
C423452101 HELMERICH & PAYNE I 17,184 11,655
C428291108 HEXCEL CORP NEW COM 18,012 18,434
C441593100 HOULIHAN LOKEY INC 12,822 39,594
C45866F104 INTERCONTINENTAL EX 19,432 32,633
C46266C105 IQVIA HLDGS INC COM 24,005 20,437
C493267108 KEYCORP NEW COM 16,864 22,899
C49338L103 KEYSIGHT TECHNOLOGI 17,190 29,074
C504922105 LABCORP HLDGS INC C 15,775 23,161
C574599106 MASCO CORP COM 21,653 36,358
C626717102 MURPHY OIL CORP COM 13,018 9,411
C695156109 PACKAGING CORP AMER 9,068 23,639
C743315103 PROGRESSIVE CORP OH 13,257 39,056
C754730109 RAYMOND JAMES FNCL 9,748 36,813
C759351604 REINSURANCE GROUP A 17,757 36,103
C760759100 REPUBLIC SVCS INC C 16,681 42,851
C778296103 ROSS STORES INC COM 18,654 18,304
C810186106 SCOTTS MIRACLE-GRO 31,003 19,703
C81211K100 SEALED AIR CORP NEW 14,501 14,648
C83088M102 SKYWORKS SOLUTIONS 21,872 20,485
C833034101 SNAP-ON INC COM 9,989 29,535
C860630102 STIFEL FINL CORP CO 9,548 35,431
C871607107 SYNOPSYS INC COM 5,017 16,017
C871829107 SYSCO CORP COM 14,953 19,803
C872540109 TJX COS INC COM NEW 7,527 18,967
C90384S303 ULTA BEAUTY INC 22,476 23,486
C92939U106 WEC ENERGY GROUP IN 23,953 24,450
C980745103 WOODWARD INC COM 8,574 26,461
CG7496G103 RENAISSANCE RE HLDG 17,433 27,618
CG8060N102 SENSATA TECHNOLOGIE 22,310 16,221
CN72482149 QIAGEN NV ORD EUR0. 21,926 22,220
C03064D108 AMERICOLD RLTY TR I 22,587 15,365
C101121101 BXP INC 25,918 23,795
C78410G104 SBA COMMUNICATIONS 24,539 18,138
C000360206 AAON INC COM PAR $0 4,063 8,944
C004498101 ACI WORLDWIDE INC C 12,138 21,179
C008252108 AFFILIATED MANAGERS 13,727 14,979
C011311107 ALAMO GROUP INC COM 12,126 17,661
C011642105 ALARM COM HLDGS INC 13,548 13,376
C04316A108 ARTISAN PARTNERS AS 10,683 16,833
C057665200 BALCHEM CORP COM 8,147 13,203
C073685109 BEACON ROOFING SUPP 18,467 40,835
C09227Q100 BLACKBAUD INC COM 30,431 34,816
C09239B109 BLACKLINE INC COM 11,477 11,119
C124805102 CBIZ INC COM 22,122 47,952
C126402106 CSW INDUSTRIALS INC 9,377 17,993
C153527106 CENTRAL GARDEN & PE 6,815 9,778
C169905106 CHOICE HOTELS INTL 13,818 22,007
C194014502 ENOVIS CORPORATION 14,230 11,014
C198516106 COLUMBIA SPORTSWEAR 17,220 20,311
C204166102 COMMVAULT SYS INC C 14,783 25,353
C25787G100 DONNELLEY FINL SOLU 16,040 18,129
C258278100 DORMAN PRODS INC CO 24,474 36,792
C29415F104 ENVISTA HLDGS CORP 5,918 5,459
C294268107 EPLUS INC COM 16,030 22,238
C30214U102 EXPONENT INC COM ST 6,290 9,266
C302941109 FTI CONSULTING INC 7,654 7,072
C35905A109 FRONTDOOR INC COM 9,944 14,488
C359694106 FULLER H B CO COM 12,688 12,349
C407497106 HAMILTON LANE INC C 13,168 24,132
C447462102 HURON CONSULTING GR 14,221 27,337
C44930G107 ICU MED INC COM 23,204 24,051
C45765U103 INSIGHT ENTERPRISES 31,544 39,850
C457985208 INTEGRA LIFESCIENCE 13,876 8,051
C45826H109 INTEGER HLDGS CORP 8,476 8,746
C458334109 INTERPARFUMS INC 39,804 51,552
C466032109 J & J SNACK FOODS C 15,463 17,064
C48282T104 KADANT INC COM 5,220 5,865
C497266106 KIRBY CORP COM 8,073 16,928
C513847103 LANCASTER COLONY CO 5,816 6,406
C515098101 LANDSTAR SYS INC CO 14,606 19,936
C580589109 MCGRATH RENTCORP CO 15,550 20,910
C589889104 MERIT MED SYS INC C 17,631 23,600
C59064R109 MESA LABS INC COM 11,527 13,583
C615394202 MOOG INC CL A 15,190 34,841
C637372202 NATIONAL RESH CORP 13,774 7,991
C68213N109 OMNICELL INC COM 4,685 5,120
C69343T107 PJT PARTNERS INC CO 9,354 14,519
C703395103 PATTERSON COS INC C 3,827 5,987
C72346Q104 PINNACLE FINL PARTN 3,391 7,779
C729132100 PLEXUS CORP COM 6,888 10,954
C739276103 POWER INTEGRATIONS 9,193 11,106
C74112D101 PRESTIGE CONSUMER H 14,433 15,228
C74758T303 QUALYS INC COM USD0 25,020 24,539
C749607107 RLI CORP COM 12,448 21,922
C78463M107 SPS COMM INC COM 13,382 12,143
C79546E104 SALLY BEAUTY HLDGS 5,528 5,288
C816300107 SELECTIVE INS GROUP 34,084 38,250
C827048109 SILGAN HLDGS INC CO 15,598 22,746
C829073105 SIMPSON MFG INC COM 6,191 7,628
C829214105 SIMULATIONS PLUS IN 7,632 5,494
C840441109 SOUTHSTATE CORP COM 5,739 8,953
C858586100 STEPAN CO COM 10,243 7,764
C902673102 UFP TECHNOLOGIES IN 4,621 6,602
C904708104 UNIFIRST CORP MASS 8,667 10,094
C92511U102 VERRA MOBILITY CORP 14,109 12,380
C957090103 WESTAMERICA BANCORP 7,374 7,554
C974250102 WINMARK CORP COM 9,285 11,399

TY 2024 InvestmentsOtherSchedule2
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE      
NORTHERN TRUST PRIVATE EQUITY AT COST 560,930 1,224,391
NORTHERN TRUST PRIVATE EQUITY AT COST 345,317 466,030
C000318790 ALPHA CORE STRATEGI AT COST 496,223 979,108
C999596430 EXEMPTION LETTER RE AT COST   1
C665162475 MFB NORTHN FDS MULT AT COST 295,009 302,429

TY 2024 OtherDecreasesSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Description Amount
2024 TRANSACTIONS POSTED IN 2025 8,903


TY 2024 OtherExpensesSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
IL AG FILING FEE 230 0   230
CLASS ACTION FILING FEES 47 47   0


TY 2024 OtherIncomeSchedule2
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
RESIDUAL PROCEEDS IN NTCC 2,279 2,279  
MFO BLACK ROCK FDS V HIGH YIELD BD PORT 183 183  
BSTN PPTYS INC 9 9  
MFO CAUSE WAY CAP MGMT TR INTL VALUE 332 332  
MFO DFA INVT DIMENSIONS GROUP 144 144  
PE CORE FUND IV 189,333 325,217  
PE CORE FUND IX -10,577 -9,484  
STATE TAX REFUND - IL 121 0  


TY 2024 OtherIncreasesSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Description Amount
PARTNERSHIP COST ADJUSTMENT 14,240
2023 TRANSACTIONS POSTED IN 2024 3,930


TY 2024 TaxesSchedule
Name:
KERN FOUNDATION TRUST
EIN:
36-6107250
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE INCOME TAXES 885 0   0
ESTIMATED TAX PAYMENTS 5,000 0   0
FOREIGN TAXES 11,278 11,278   0