TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

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

Name of foundation
THE GRAINGER FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)100 GRAINGER PARKWAY
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
LAKE FOREST, IL600455201

A Employer identification number

36-6192971

B Telephone number (see instructions)

(847) 535-2030

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$283,684,257J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	5,328,934		5,333,429
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		5,978,617
b	Gross sales price for all assets on line 6a 21,930,839
7	Capital gain net income (from Part IV, line 2)...			5,978,617
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).......
12	Total. Add lines 1 through 11........	11,307,551		11,312,046
13	Compensation of officers, directors, trustees, etc.	834,315
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......	79,179		0	0
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	51,825	0	0	0
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	1,500	0	0	0
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	712,287	712,287		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	152,426	42,606		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............	102,690
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	21,098
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,955,320		754,893	0	0
25	Contributions, gifts, grants paid.......	20,371,926				20,371,926
26	Total expenses and disbursements. Add lines 24 and 25	22,327,246		754,893	0	20,371,926
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-11,019,695
b	Net investment income (if negative, enter -0-)			10,557,153
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	42,579	20,965	20,965
	2	Savings and temporary cash investments.........	4,854,395	8,200,513	8,200,513
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	12,491,837	15,236,057	15,071,338
	b	Investments—corporate stock (attach schedule).......	102,500,814	100,024,877	224,640,235
	c	Investments—corporate bonds (attach schedule).......	38,631,492	36,748,763	35,189,641
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	561,565	561,565	561,565
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	159,082,682	160,792,740	283,684,257
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	159,082,682	160,792,740
	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).....	159,082,682	160,792,740
	30	Total liabilities and net assets/fund balances (see instructions).	159,082,682	160,792,740

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

159,082,682

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

-11,019,695

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

List of Attached Documents:

// Content

12,729,753

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

160,792,740

Decreases not included in line 2 (itemize) right arrow

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

160,792,740

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	55559.89 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-01-14
b	16898.09 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-01-14
c	30000. APPLE INC GLB		2023-04-13	2024-01-25
d	25000. APPLE INC GLB		2023-04-10	2024-01-25
e	90000. APPLE INC GLB		2023-07-26	2024-01-25
	105000. APPLE INC GLB		2023-03-06	2024-01-25
	11529.64 FHLMC SD 0814 03%2052		2022-01-11	2024-01-31
	10012.46 FHLMC SD 1931 03 50%2051		2023-08-07	2024-01-31
	7339.09 FHLMC RA 3611 02 50%2050		2020-10-15	2024-01-31
	4127.33 FHLMC RA 7122 03 50%2052		2023-02-07	2024-01-31
	1358.34 FHLMC RA 7519 03 50%2052		2023-08-22	2024-01-31
	3183.53 FHLMC RB 5125 02%2041		2021-08-10	2024-01-31
	1004.53 FNMA PAS7387 03 50%2046		2016-09-30	2024-01-31
	2639.92 FNMA PBU5917 02 50%2051		2021-12-01	2024-01-31
	59388.43 FNMA PBV8551 03 50%2052		2023-07-27	2024-01-31
	10376.32 FNMA PCA4166 03 50%2049		2022-10-03	2024-01-31
	343.42 FNMA PCA7737 02 50%2050		2021-01-27	2024-01-31
	901.39 FNMA PCA8132 02 50%2050		2021-01-05	2024-01-31
	6308.1 FNMA PCB1916 03%2051		2022-01-19	2024-01-31
	1543.27 FNMA PCB3515 03 50%2052		2023-02-07	2024-01-31
	3840.73 FNMA PCB3586 03%2052		2022-10-04	2024-01-31
	1106.43 FNMA PFM2582 03%2050		2021-03-24	2024-01-31
	3817.18 FNMA PFM4226 02 50%2050		2020-09-09	2024-01-31
	2733.17 FNMA PFS3815 03 50%2051		2023-05-18	2024-01-31
	7481.45 FNMA PFS5843 04%2052		2023-12-08	2024-01-31
	2704.03 FNMA PMA4176 02%2040		2020-09-28	2024-01-31
	7874.8 FNMA PMA4600 03 50%2052		2023-08-03	2024-01-31
	7454.93 WFRBS COMMERCIA CMO 2014 C21 A4 03.410%AUG15 47		2015-07-07	2024-01-31
	9000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-22	2024-02-13
	36000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-22	2024-02-13
	15000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-22	2024-02-13
	5000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-22	2024-02-14
	10000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-21	2024-02-14
	58688.52 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-02-14
	17538.68 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-02-14
	20000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-21	2024-02-15
	20000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-21	2024-02-20
	30000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-21	2024-02-21
	70000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2021-10-21	2024-02-22
	35000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-02-22
	15000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-02-28
	1400.75 FHLMC SD 0814 03%2052		2022-01-11	2024-02-29
	7145.8 FHLMC SD 1931 03 50%2051		2023-08-07	2024-02-29
	2342.51 FHLMC RA 3611 02 50%2050		2020-10-15	2024-02-29
	2963.68 FHLMC RA 7122 03 50%2052		2023-02-07	2024-02-29
	3841.25 FHLMC RA 7519 03 50%2052		2023-08-22	2024-02-29
	3160.91 FHLMC RB 5125 02%2041		2021-08-10	2024-02-29
	194.3 FNMA PAS7387 03 50%2046		2016-09-30	2024-02-29
	2020.86 FNMA PBU5917 02 50%2051		2021-12-01	2024-02-29
	5782.51 FNMA PBV8551 03 50%2052		2023-07-27	2024-02-29
	4313.6 FNMA PCA4166 03 50%2049		2022-10-03	2024-02-29
	1074.04 FNMA PCA7737 02 50%2050		2021-01-27	2024-02-29
	734.12 FNMA PCA8132 02 50%2050		2021-01-05	2024-02-29
	1530.04 FNMA PCB1916 03%2051		2022-01-19	2024-02-29
	1448.1 FNMA PCB3515 03 50%2052		2023-02-07	2024-02-29
	3075.95 FNMA PCB3586 03%2052		2022-10-04	2024-02-29
	1112.58 FNMA PFM2582 03%2050		2021-03-24	2024-02-29
	3540.68 FNMA PFM4226 02 50%2050		2020-09-09	2024-02-29
	4539.01 FNMA PFS3815 03 50%2051		2023-05-18	2024-02-29
	4096.15 FNMA PFS5843 04%2052		2023-12-08	2024-02-29
	2687.18 FNMA PMA4176 02%2040		2020-09-28	2024-02-29
	9112.07 FNMA PMA4600 03 50%2052		2023-08-03	2024-02-29
	25170.28 WFRBS COMMERCIA CMO 2014 C21 A4 03.410%AUG15 47		2015-07-07	2024-02-29
	5000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-03-04
	35000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-03-05
	10000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-03-06
	25000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-03-07
	15000. AERCAP IRELAND CAP/GLOBA COMPANY GUARNT GLB		2023-07-26	2024-03-08
	17000. HCA INC COMPANY GUARNT		2022-08-18	2024-03-13
	25000. HCA INC COMPANY GUARNT		2022-08-18	2024-03-13
	27000. HCA INC COMPANY GUARNT		2022-08-23	2024-03-13
	25000. HCA INC COMPANY GUARNT		2022-08-23	2024-03-13
	67000. HCA INC COMPANY GUARNT		2022-08-25	2024-03-13
	55000. HCA INC COMPANY GUARNT		2022-08-26	2024-03-13
	4000. HCA INC COMPANY GUARNT		2022-09-01	2024-03-13
	7000. HCA INC COMPANY GUARNT		2022-09-07	2024-03-13
	11000. HCA INC COMPANY GUARNT		2022-09-13	2024-03-13
	28000. HCA INC COMPANY GUARNT		2022-09-19	2024-03-13
	15000. HCA INC COMPANY GUARNT		2022-09-20	2024-03-13
	14000. HCA INC COMPANY GUARNT		2023-07-26	2024-03-13
	55217.94 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-03-14
	16041.4 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-03-14
	549475.318 FHLMC RA 7519 03 50%2052		2023-08-22	2024-03-18
	731762.787 FNMA PCA4166 03 50%2049		2022-10-03	2024-03-18
	789234.166 FNMA PCB3586 03%2052		2022-10-04	2024-03-18
	75000. HCA INC COMPANY GUARNT		2023-07-26	2024-03-19
	9000. CAMPBELL SOUP CO GLB		2024-03-19	2024-03-20
	75000. HCA INC COMPANY GUARNT		2023-07-26	2024-03-20
	6000. HCA INC COMPANY GUARNT		2023-07-26	2024-03-21
	3000. HCA INC COMPANY GUARNT		2022-09-23	2024-03-21
	11000. HCA INC COMPANY GUARNT		2022-09-27	2024-03-21
	8175.46 FHLMC SD 0814 03%2052		2022-01-11	2024-03-31
	17852.66 FHLMC SD 1931 03 50%2051		2023-08-07	2024-03-31
	3937.26 FHLMC RA 3611 02 50%2050		2020-10-15	2024-03-31
	14269.74 FHLMC RA 7122 03 50%2052		2023-02-07	2024-03-31
	3342.32 FHLMC RA 7519 03 50%2052		2023-08-22	2024-03-31
	2723.85 FHLMC RB 5125 02%2041		2021-08-10	2024-03-31
	195.68 FNMA PAS7387 03 50%2046		2016-09-30	2024-03-31
	1929.02 FNMA PBU5917 02 50%2051		2021-12-01	2024-03-31
	6553.58 FNMA PBV8551 03 50%2052		2023-07-27	2024-03-31
	7617.61 FNMA PCA4166 03 50%2049		2022-10-03	2024-03-31
	1737.56 FNMA PCA7737 02 50%2050		2021-01-27	2024-03-31
	640.02 FNMA PCA8132 02 50%2050		2021-01-05	2024-03-31
	11496.37 FNMA PCB1916 03%2051		2022-01-19	2024-03-31
	8071.12 FNMA PCB3515 03 50%2052		2023-02-07	2024-03-31
	2711.24 FNMA PCB3586 03%2052		2022-10-04	2024-03-31
	1061.03 FNMA PFM2582 03%2050		2021-03-24	2024-03-31
	3905.56 FNMA PFM4226 02 50%2050		2020-09-09	2024-03-31
	4359.16 FNMA PFS3815 03 50%2051		2023-05-18	2024-03-31
	913.31 FNMA PFS5843 04%2052		2023-12-08	2024-03-31
	2950.78 FNMA PMA4176 02%2040		2020-09-28	2024-03-31
	11138.28 FNMA PMA4600 03 50%2052		2023-08-03	2024-03-31
	63287.69 WFRBS COMMERCIA CMO 2014 C21 A4 03.410%AUG15 47		2015-07-07	2024-03-31
	222000. SUNTRUST BANK SER BNKT GLB		2020-06-03	2024-04-01
	56092.82 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-04-14
	15865.9 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-04-14
	150000. MORGAN STANLEY SER F GLB		2015-04-27	2024-04-29
	4857.5 FHLMC SD 0814 03%2052		2022-01-11	2024-04-30
	21603.12 FHLMC SD 1931 03 50%2051		2023-08-07	2024-04-30
	13501.39 FHLMC SD 5096 05 50%2054		2024-03-18	2024-04-30
	2935.87 FHLMC RA 3611 02 50%2050		2020-10-15	2024-04-30
	3191.87 FHLMC RA 7122 03 50%2052		2023-02-07	2024-04-30
	3644.85 FHLMC RB 5125 02%2041		2021-08-10	2024-04-30
	796.8 FNMA PAS7387 03 50%2046		2016-09-30	2024-04-30
	2055.91 FNMA PBU5917 02 50%2051		2021-12-01	2024-04-30
	5690.45 FNMA PBV8551 03 50%2052		2023-07-27	2024-04-30
	1837.48 FNMA PCA7737 02 50%2050		2021-01-27	2024-04-30
	1480.02 FNMA PCA8132 02 50%2050		2021-01-05	2024-04-30
	6512.32 FNMA PCB1916 03%2051		2022-01-19	2024-04-30
	5804.82 FNMA PCB3515 03 50%2052		2023-02-07	2024-04-30
	1104.31 FNMA PFM2582 03%2050		2021-03-24	2024-04-30
	6700.47 FNMA PFM4226 02 50%2050		2020-09-09	2024-04-30
	2778.55 FNMA PFS3815 03 50%2051		2023-05-18	2024-04-30
	4597.04 FNMA PFS5843 04%2052		2023-12-08	2024-04-30
	3578.02 FNMA PMA4176 02%2040		2020-09-28	2024-04-30
	11459.37 FNMA PMA4600 03 50%2052		2023-08-03	2024-04-30
	5222.841 ARTISAN INTERNATIONAL FUND CL INSTL		2020-12-08	2024-05-03
	6929.473 COLUMBIA DIVIDEND INCOME FUND CL INSTL3		2015-02-04	2024-05-03
	875. ISHARES RUSSELL 1000 VALUE ETF		2013-10-15	2024-05-03
	2185. ISHARES RUSSELL 1000 GROWTH ETF		2013-10-23	2024-05-03
	8744.316 JOHN HANCOCK DISCIPLINED VALUE MID CAP FUND CL R6		2017-04-06	2024-05-03
	56470.77 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-05-14
	15299.91 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-05-14
	80000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2020-10-21	2024-05-14
	730000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2022-01-04	2024-05-14
	40000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2023-07-26	2024-05-14
	88448.16 WFRBS COMMERCIA CMO 2014 C21 A4 03.410%AUG15 47		2015-07-07	2024-05-17
	8553.7 FHLMC SD 0814 03%2052		2022-01-11	2024-05-31
	22240.02 FHLMC SD 1931 03 50%2051		2023-08-07	2024-05-31
	9305.9 FHLMC SD 5096 05 50%2054		2024-03-18	2024-05-31
	4667.55 FHLMC RA 3611 02 50%2050		2020-10-15	2024-05-31
	9920.92 FHLMC RA 7122 03 50%2052		2023-02-07	2024-05-31
	3990.89 FHLMC RB 5125 02%2041		2021-08-10	2024-05-31
	225.15 FNMA PAS7387 03 50%2046		2016-09-30	2024-05-31
	4431.07 FNMA PBU5917 02 50%2051		2021-12-01	2024-05-31
	71473.6 FNMA PBV8551 03 50%2052		2023-07-27	2024-05-31
	341.07 FNMA PCA7737 02 50%2050		2021-01-27	2024-05-31
	365.77 FNMA PCA8132 02 50%2050		2021-01-05	2024-05-31
	3951.71 FNMA PCB1916 03%2051		2022-01-19	2024-05-31
	6635.45 FNMA PCB3515 03 50%2052		2023-02-07	2024-05-31
	1202.76 FNMA PFM2582 03%2050		2021-03-24	2024-05-31
	4830.04 FNMA PFM4226 02 50%2050		2020-09-09	2024-05-31
	4038.31 FNMA PFS3815 03 50%2051		2023-05-18	2024-05-31
	12586.32 FNMA PFS5284 03 50%2050		2024-05-23	2024-05-31
	4246.47 FNMA PFS5843 04%2052		2023-12-08	2024-05-31
	3024.79 FNMA PMA4176 02%2040		2020-09-28	2024-05-31
	11647.56 FNMA PMA4600 03 50%2052		2023-08-03	2024-05-31
	53156.57 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-06-14
	4009.16 TOYOTA AUTO REC ABS 2021 A A3 00.260%MAY15 25		2022-01-19	2024-06-17
	80000. META PLATFORMS INC GLB		2024-01-25	2024-06-18
	155000. META PLATFORMS INC GLB		2024-01-25	2024-06-20
	8081.91 FHLMC SD 0814 03%2052		2022-01-11	2024-06-30
	5330.51 FHLMC SD 1931 03 50%2051		2023-08-07	2024-06-30
	13177.04 FHLMC SD 5096 05 50%2054		2024-03-18	2024-06-30
	2470.29 FHLMC RA 3611 02 50%2050		2020-10-15	2024-06-30
	7903.18 FHLMC RA 7122 03 50%2052		2023-02-07	2024-06-30
	3162.3 FHLMC RB 5125 02%2041		2021-08-10	2024-06-30
	188.82 FNMA PAS7387 03 50%2046		2016-09-30	2024-06-30
	3762.5 FNMA PBU5917 02 50%2051		2021-12-01	2024-06-30
	85903.56 FNMA PBV8551 03 50%2052		2023-07-27	2024-06-30
	1479.07 FNMA PCA7737 02 50%2050		2021-01-27	2024-06-30
	2516.79 FNMA PCA8132 02 50%2050		2021-01-05	2024-06-30
	9163.46 FNMA PCB1916 03%2051		2022-01-19	2024-06-30
	10811.86 FNMA PCB3515 03 50%2052		2023-02-07	2024-06-30
	14067.69 FNMA PFM2582 03%2050		2021-03-24	2024-06-30
	4405.24 FNMA PFM4226 02 50%2050		2020-09-09	2024-06-30
	5035.15 FNMA PFS3815 03 50%2051		2023-05-18	2024-06-30
	12351.18 FNMA PFS5284 03 50%2050		2024-05-23	2024-06-30
	789.81 FNMA PFS5843 04%2052		2023-12-08	2024-06-30
	3451.05 FNMA PMA4176 02%2040		2020-09-28	2024-06-30
	11356.79 FNMA PMA4600 03 50%2052		2023-08-03	2024-06-30
	5000. WARNERMEDIA HOLDINGS CLD COMPANY GUARNT GLB		2023-03-07	2024-07-02
	244000. SHIRE ACQ INV IRELAND DA COMPANY GUARNT GLB		2023-07-26	2024-07-12
	8729.75 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-07-14
	48678.84 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-07-14
	160000. AMGEN INC GLB		2023-07-26	2024-07-15
	250000. CAPITAL ONE MUL ABS 2021 A1 A1 00.550%JUL15 26		2022-12-02	2024-07-15
	295000. MORGAN STANLEY GLB		2023-07-26	2024-07-17
	205000. MORGAN STANLEY GLB		2023-07-26	2024-07-17
	15000. AMGEN INC GLB		2023-07-26	2024-07-18
	88000. AMGEN INC GLB		2023-02-15	2024-07-18
	62000. AMGEN INC GLB		2023-02-16	2024-07-18
	13000. AMGEN INC GLB		2023-02-16	2024-07-23
	127000. AMGEN INC GLB		2023-02-22	2024-07-23
	10000. WARNERMEDIA HOLDINGS CLD COMPANY GUARNT GLB		2023-03-07	2024-07-24
	11706.48 FHLMC SD 0814 03%2052		2022-01-11	2024-07-31
	23704.83 FHLMC SD 1931 03 50%2051		2023-08-07	2024-07-31
	10934.66 FHLMC SD 5096 05 50%2054		2024-03-18	2024-07-31
	4121.27 FHLMC RA 3611 02 50%2050		2020-10-15	2024-07-31
	12697.34 FHLMC RA 7122 03 50%2052		2023-02-07	2024-07-31
	3085.19 FHLMC RB 5125 02%2041		2021-08-10	2024-07-31
	611.96 FNMA PAS7387 03 50%2046		2016-09-30	2024-07-31
	1461.1 FNMA PBU5917 02 50%2051		2021-12-01	2024-07-31
	5358.83 FNMA PBV8551 03 50%2052		2023-07-27	2024-07-31
	989.8 FNMA PCA7737 02 50%2050		2021-01-27	2024-07-31
	1095.88 FNMA PCA8132 02 50%2050		2021-01-05	2024-07-31
	1405.52 FNMA PCB1916 03%2051		2022-01-19	2024-07-31
	8047.38 FNMA PCB3515 03 50%2052		2023-02-07	2024-07-31
	7888.92 FNMA PFM2582 03%2050		2021-03-24	2024-07-31
	3135.19 FNMA PFM4226 02 50%2050		2020-09-09	2024-07-31
	4812.94 FNMA PFS3815 03 50%2051		2023-05-18	2024-07-31
	7162.73 FNMA PFS5284 03 50%2050		2024-05-23	2024-07-31
	776.56 FNMA PFS5843 04%2052		2023-12-08	2024-07-31
	3467.49 FNMA PMA4176 02%2040		2020-09-28	2024-07-31
	10840.16 FNMA PMA4600 03 50%2052		2023-08-03	2024-07-31
	11000. TARGA RESOURCES CORP COMPANY GUARNT GLB		2024-08-06	2024-08-08
	5000. WARNERMEDIA HOLDINGS CLD COMPANY GUARNT GLB		2023-03-07	2024-08-13
	29340.54 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-08-14
	50869.44 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-08-14
	12833.48 GM FINANCIAL CO ABS 2022 4 A3 04.820%AUG16 27		2023-07-27	2024-08-15
	120000. COMCAST CORP COMPANY GUARNT GLB		2023-08-10	2024-08-23
	115000. COMCAST CORP COMPANY GUARNT GLB		2023-08-18	2024-08-23
	25000. PHILIP MORRIS INTL INC GLB		2023-07-26	2024-08-26
	20000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2023-07-26	2024-08-26
	15000. PHILIP MORRIS INTL INC GLB		2023-07-26	2024-08-27
	15000. PHILIP MORRIS INTL INC GLB		2023-07-26	2024-08-29
	4965.03 FHLMC SD 0814 03%2052		2022-01-11	2024-08-31
	8428.21 FHLMC SD 1931 03 50%2051		2023-08-07	2024-08-31
	6550.49 FHLMC SD 5096 05 50%2054		2024-03-18	2024-08-31
	3055.61 FHLMC RA 3611 02 50%2050		2020-10-15	2024-08-31
	1311.15 FHLMC RA 7122 03 50%2052		2023-02-07	2024-08-31
	4093.21 FHLMC RB 5125 02%2041		2021-08-10	2024-08-31
	1123.17 FNMA PAS7387 03 50%2046		2016-09-30	2024-08-31
	3775.64 FNMA PBU5917 02 50%2051		2021-12-01	2024-08-31
	5502.76 FNMA PBV8551 03 50%2052		2023-07-27	2024-08-31
	1921.1 FNMA PCA7737 02 50%2050		2021-01-27	2024-08-31
	1550.65 FNMA PCA8132 02 50%2050		2021-01-05	2024-08-31
	6381.06 FNMA PCB1916 03%2051		2022-01-19	2024-08-31
	9031.24 FNMA PCB3515 03 50%2052		2023-02-07	2024-08-31
	7354.82 FNMA PFM2582 03%2050		2021-03-24	2024-08-31
	4392.83 FNMA PFM4226 02 50%2050		2020-09-09	2024-08-31
	3387.68 FNMA PFS3815 03 50%2051		2023-05-18	2024-08-31
	11113.18 FNMA PFS5284 03 50%2050		2024-05-23	2024-08-31
	3853.83 FNMA PFS5843 04%2052		2023-12-08	2024-08-31
	3561.27 FNMA PMA4176 02%2040		2020-09-28	2024-08-31
	11985.62 FNMA PMA4600 03 50%2052		2023-08-03	2024-08-31
	167327.723 FNMA PCA8132 02 50%2050		2021-01-05	2024-09-04
	90000. PHILIP MORRIS INTL INC GLB		2023-07-26	2024-09-04
	15000. PHILIP MORRIS INTL INC GLB		2023-07-26	2024-09-06
	5000. PHILIP MORRIS INTL INC GLB		2022-11-16	2024-09-06
	8000. PHILIP MORRIS INTL INC GLB		2022-11-16	2024-09-12
	52000. PHILIP MORRIS INTL INC GLB		2022-11-16	2024-09-12
	370000. U.S. TREASURY NOTE 3.375% MAY 15 2033		2023-05-31	2024-09-13
	130000. U.S. TREASURY NOTE 3.375% MAY 15 2033		2023-06-07	2024-09-13
	28917.13 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-09-14
	49365.76 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-09-14
	53949.17 GM FINANCIAL CO ABS 2022 4 A3 04.820%AUG16 27		2023-07-27	2024-09-15
	36000. ENERGY TRANSFER OPERATNG GLB		2020-01-08	2024-09-16
	61000. ENERGY TRANSFER OPERATNG GLB		2020-01-08	2024-09-16
	58000. ENERGY TRANSFER OPERATNG GLB		2020-01-08	2024-09-16
	105000. ENERGY TRANSFER OPERATNG GLB		2023-07-26	2024-09-16
	200000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2023-07-26	2024-09-16
	6000. SHIRE ACQ INV IRELAND DA COMPANY GUARNT GLB		2023-07-26	2024-09-27
	9597.33 FHLMC SD 0814 03%2052		2022-01-11	2024-09-30
	6638.88 FHLMC SD 1931 03 50%2051		2023-08-07	2024-09-30
	6940.27 FHLMC SD 5096 05 50%2054		2024-03-18	2024-09-30
	4930.1 FHLMC RA 3611 02 50%2050		2020-10-15	2024-09-30
	10200.24 FHLMC RA 7122 03 50%2052		2023-02-07	2024-09-30
	4141.14 FHLMC RB 5125 02%2041		2021-08-10	2024-09-30
	189.87 FNMA PAS7387 03 50%2046		2016-09-30	2024-09-30
	1992.36 FNMA PBU5917 02 50%2051		2021-12-01	2024-09-30
	5465.15 FNMA PBV8551 03 50%2052		2023-07-27	2024-09-30
	1789.16 FNMA PCA7737 02 50%2050		2021-01-27	2024-09-30
	6627.9 FNMA PCB1916 03%2051		2022-01-19	2024-09-30
	6612.39 FNMA PCB3515 03 50%2052		2023-02-07	2024-09-30
	1786.26 FNMA PFM2582 03%2050		2021-03-24	2024-09-30
	3193.55 FNMA PFM4226 02 50%2050		2020-09-09	2024-09-30
	1585.05 FNMA PFS3815 03 50%2051		2023-05-18	2024-09-30
	12856.43 FNMA PFS5284 03 50%2050		2024-05-23	2024-09-30
	4087.78 FNMA PFS5843 04%2052		2023-12-08	2024-09-30
	3124.66 FNMA PMA4176 02%2040		2020-09-28	2024-09-30
	9618.72 FNMA PMA4600 03 50%2052		2023-08-03	2024-09-30
	7152.93 FNMA PMA4784 04 50%2052		2024-09-12	2024-09-30
	690000. U.S. TREASURY NOTE 3.375% MAY 15 2033		2023-06-07	2024-10-03
	830000. U.S. TREASURY NOTE 3.375% MAY 15 2033		2023-07-26	2024-10-03
	200000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2023-07-26	2024-10-11
	125000. U.S. TREASURY NOTE 2.750% MAY 31 2029		2022-07-20	2024-10-11
	200000. U.S. TREASURY NOTE 2.750% MAY 31 2029		2022-08-29	2024-10-11
	135000. U.S. TREASURY NOTE 2.750% MAY 31 2029		2023-02-01	2024-10-11
	305000. U.S. TREASURY NOTE 2.750% JUL 31 2027		2022-08-08	2024-10-11
	26781.43 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-10-14
	63346.96 GM FINANCIAL CO ABS 2022 4 A3 04.820%AUG16 27		2023-07-27	2024-10-15
	47048.71 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-10-15
	10966.22 FHLMC SD 0814 03%2052		2022-01-11	2024-10-31
	8501.3 FHLMC SD 1931 03 50%2051		2023-08-07	2024-10-31
	20032.67 FHLMC SD 5096 05 50%2054		2024-03-18	2024-10-31
	4575.98 FHLMC RA 3611 02 50%2050		2020-10-15	2024-10-31
	5893.91 FHLMC RA 7122 03 50%2052		2023-02-07	2024-10-31
	2900.07 FHLMC RB 5125 02%2041		2021-08-10	2024-10-31
	809.7 FNMA PAS7387 03 50%2046		2016-09-30	2024-10-31
	3786.46 FNMA PBU5917 02 50%2051		2021-12-01	2024-10-31
	5163.6 FNMA PBV8551 03 50%2052		2023-07-27	2024-10-31
	1779.7 FNMA PCA7737 02 50%2050		2021-01-27	2024-10-31
	6614.14 FNMA PCB1916 03%2051		2022-01-19	2024-10-31
	5817.42 FNMA PCB3515 03 50%2052		2023-02-07	2024-10-31
	1052.14 FNMA PFM2582 03%2050		2021-03-24	2024-10-31
	8207.05 FNMA PFM4226 02 50%2050		2020-09-09	2024-10-31
	3707.88 FNMA PFS3815 03 50%2051		2023-05-18	2024-10-31
	9255.25 FNMA PFS5284 03 50%2050		2024-05-23	2024-10-31
	4204.66 FNMA PFS5843 04%2052		2023-12-08	2024-10-31
	2958.32 FNMA PMA4176 02%2040		2020-09-28	2024-10-31
	11054.47 FNMA PMA4600 03 50%2052		2023-08-03	2024-10-31
	9844.7 FNMA PMA4784 04 50%2052		2024-09-12	2024-10-31
	26195.43 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-11-14
	47025.34 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-11-14
	63127.72 GM FINANCIAL CO ABS 2022 4 A3 04.820%AUG16 27		2023-07-27	2024-11-15
	19139.21 FHLMC SD 0814 03%2052		2022-01-11	2024-11-30
	15800.81 FHLMC SD 1931 03 50%2051		2023-08-07	2024-11-30
	14608.95 FHLMC SD 5096 05 50%2054		2024-03-18	2024-11-30
	5882.82 FHLMC RA 3611 02 50%2050		2020-10-15	2024-11-30
	3089.67 FHLMC RA 7122 03 50%2052		2023-02-07	2024-11-30
	3147.84 FHLMC RB 5125 02%2041		2021-08-10	2024-11-30
	188.02 FNMA PAS7387 03 50%2046		2016-09-30	2024-11-30
	3699.51 FNMA PBU5917 02 50%2051		2021-12-01	2024-11-30
	5611.48 FNMA PBV8551 03 50%2052		2023-07-27	2024-11-30
	332.62 FNMA PCA7737 02 50%2050		2021-01-27	2024-11-30
	6519.89 FNMA PCB1916 03%2051		2022-01-19	2024-11-30
	4504.42 FNMA PCB3515 03 50%2052		2023-02-07	2024-11-30
	1066.58 FNMA PFM2582 03%2050		2021-03-24	2024-11-30
	1468.83 FNMA PFM4226 02 50%2050		2020-09-09	2024-11-30
	3260.41 FNMA PFS3815 03 50%2051		2023-05-18	2024-11-30
	12614.74 FNMA PFS5284 03 50%2050		2024-05-23	2024-11-30
	893.17 FNMA PFS5843 04%2052		2023-12-08	2024-11-30
	3147.7 FNMA PMA4176 02%2040		2020-09-28	2024-11-30
	9720.33 FNMA PMA4600 03 50%2052		2023-08-03	2024-11-30
	7666.5 FNMA PMA4784 04 50%2052		2024-09-12	2024-11-30
	4816.11 WELLS FARGO COM CMO 2015 LC20 A5 03.184%APR15 50		2015-07-15	2024-11-30
	1445522.157 FHLMC SD 1931 03 50%2051		2023-08-07	2024-12-02
	1514649.379 FNMA PMA4600 03 50%2052		2023-08-03	2024-12-02
	23854.07 MERCEDES-BENZ A ABS 2022 1 A3 05.210%AUG16 27		2023-01-05	2024-12-14
	44242.76 TOYOTA AUTO REC ABS 2022 A A3 01.230%JUN15 26		2023-07-28	2024-12-14
	59829.7 GM FINANCIAL CO ABS 2022 4 A3 04.820%AUG16 27		2023-07-27	2024-12-15
	4783.22 FHLMC SD 0814 03%2052		2022-01-11	2024-12-31
	13661.29 FHLMC SD 5096 05 50%2054		2024-03-18	2024-12-31
	5863.55 FHLMC RA 3611 02 50%2050		2020-10-15	2024-12-31
	7324.96 FHLMC RA 7122 03 50%2052		2023-02-07	2024-12-31
	3523.03 FHLMC RB 5125 02%2041		2021-08-10	2024-12-31
	232.25 FNMA PAS7387 03 50%2046		2016-09-30	2024-12-31
	4331.86 FNMA PBU5917 02 50%2051		2021-12-01	2024-12-31
	5620.57 FNMA PBV8551 03 50%2052		2023-07-27	2024-12-31
	790.72 FNMA PCA7737 02 50%2050		2021-01-27	2024-12-31
	1473.34 FNMA PCB1916 03%2051		2022-01-19	2024-12-31
	1485.68 FNMA PCB3515 03 50%2052		2023-02-07	2024-12-31
	7868.24 FNMA PFM2582 03%2050		2021-03-24	2024-12-31
	3057.64 FNMA PFM4226 02 50%2050		2020-09-09	2024-12-31
	3438.47 FNMA PFS3815 03 50%2051		2023-05-18	2024-12-31
	9949.86 FNMA PFS5284 03 50%2050		2024-05-23	2024-12-31
	804.22 FNMA PFS5843 04%2052		2023-12-08	2024-12-31
	2985.37 FNMA PMA4176 02%2040		2020-09-28	2024-12-31
	6972.98 FNMA PMA4784 04 50%2052		2024-09-12	2024-12-31
	40219.32 WELLS FARGO COM CMO 2015 LC20 A5 03.184%APR15 50		2015-07-15	2024-12-31
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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
	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		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	55,560	53,411	2,149
b	16,898	16,754	144
c	27,563	28,556	-993
d	22,970	23,709	-739
e	82,690	84,038	-1,348
	96,472	94,900	1,572
	11,530	11,944	-414
	10,012	9,072	940
	7,339	7,783	-444
	4,127	3,855	272
	1,358	1,196	162
	3,184	3,256	-72
	1,005	1,065	-60
	2,640	2,709	-69
	59,388	53,932	5,456
	10,376	9,522	854
	343	363	-20
	901	954	-53
	6,308	6,510	-202
	1,543	1,440	103
	3,841	3,403	438
	1,106	1,167	-61
	3,817	4,046	-229
	2,733	2,536	197
	7,481	6,902	579
	2,704	2,800	-96
	7,875	7,005	870
	7,455	7,640	-185
	7,559	9,062	-1,503
	30,236	36,199	-5,963
	12,637	15,083	-2,446
	4,218	5,028	-810
	8,437	9,962	-1,525
	58,689	56,419	2,270
	17,539	17,389	150
	16,905	19,925	-3,020
	16,871	19,925	-3,054
	25,315	29,887	-4,572
	59,053	69,737	-10,684
	29,527	28,722	805
	12,666	12,309	357
	1,401	1,451	-50
	7,146	6,475	671
	2,343	2,484	-141
	2,964	2,768	196
	3,841	3,383	458
	3,161	3,233	-72
	194	206	-12
	2,021	2,074	-53
	5,783	5,251	532
	4,314	3,958	356
	1,074	1,136	-62
	734	777	-43
	1,530	1,579	-49
	1,448	1,351	97
	3,076	2,726	350
	1,113	1,174	-61
	3,541	3,753	-212
	4,539	4,211	328
	4,096	3,779	317
	2,687	2,782	-95
	9,112	8,105	1,007
	25,170	25,794	-624
	4,239	4,103	136
	29,843	28,722	1,121
	8,532	8,206	326
	21,378	20,516	862
	12,846	12,309	537
	16,944	17,133	-189
	24,918	25,186	-268
	26,911	27,167	-256
	24,918	25,148	-230
	66,779	67,395	-616
	54,819	55,314	-495
	3,987	4,013	-26
	6,977	7,022	-45
	10,964	11,019	-55
	27,908	28,011	-103
	14,951	14,998	-47
	13,954	13,905	49
	55,218	53,083	2,135
	16,041	15,904	137
	488,947	483,968	4,979
	651,612	671,507	-19,895
	676,028	699,335	-23,307
	74,790	74,492	298
	9,007	8,998	9
	74,784	74,492	292
	5,986	5,959	27
	2,993	2,979	14
	10,974	10,848	126
	8,175	8,469	-294
	17,853	16,176	1,677
	3,937	4,175	-238
	14,270	13,329	941
	3,342	2,944	398
	2,724	2,786	-62
	196	207	-11
	1,929	1,980	-51
	6,554	5,951	603
	7,618	6,990	628
	1,738	1,838	-100
	640	677	-37
	11,496	11,865	-369
	8,071	7,533	538
	2,711	2,402	309
	1,061	1,119	-58
	3,906	4,139	-233
	4,359	4,044	315
	913	843	70
	2,951	3,055	-104
	11,138	9,908	1,230
	63,288	64,855	-1,567
	222,000	222,000
	56,093	53,924	2,169
	15,866	15,730	136
	150,000	152,032	-2,032
	4,858	5,032	-174
	21,603	19,574	2,029
	13,501	13,556	-55
	2,936	3,113	-177
	3,192	2,981	211
	3,645	3,727	-82
	797	845	-48
	2,056	2,110	-54
	5,690	5,168	522
	1,837	1,943	-106
	1,480	1,567	-87
	6,512	6,721	-209
	5,805	5,418	387
	1,104	1,165	-61
	6,700	7,101	-401
	2,779	2,578	201
	4,597	4,241	356
	3,578	3,704	-126
	11,459	10,193	1,266
	150,000	177,211	-27,211
	225,000	132,433	92,567
	151,463	76,764	74,699
	723,827	176,948	546,879
	250,000	194,395	55,605
	56,471	54,287	2,184
	15,300	15,169	131
	76,834	80,131	-3,297
	701,114	716,686	-15,572
	38,417	37,080	1,337
	88,448	90,639	-2,191
	8,554	8,861	-307
	22,240	20,152	2,088
	9,306	9,344	-38
	4,668	4,950	-282
	9,921	9,267	654
	3,991	4,081	-90
	225	239	-14
	4,431	4,547	-116
	71,474	64,907	6,567
	341	361	-20
	366	387	-21
	3,952	4,078	-126
	6,635	6,193	442
	1,203	1,269	-66
	4,830	5,119	-289
	4,038	3,747	291
	12,586	11,225	1,361
	4,246	3,917	329
	3,025	3,132	-107
	11,648	10,361	1,287
	53,157	51,101	2,056
	4,009	3,975	34
	81,062	81,135	-73
	156,336	157,197	-861
	8,082	8,372	-290
	5,331	4,830	501
	13,177	13,231	-54
	2,470	2,620	-150
	7,903	7,382	521
	3,162	3,234	-72
	189	200	-11
	3,763	3,861	-98
	85,904	78,011	7,893
	1,479	1,564	-85
	2,517	2,664	-147
	9,163	9,457	-294
	10,812	10,091	721
	14,068	14,841	-773
	4,405	4,669	-264
	5,035	4,672	363
	12,351	11,016	1,335
	790	729	61
	3,451	3,573	-122
	11,357	10,102	1,255
	5,000	5,004	-4
	236,107	229,177	6,930
	8,730	8,811	-81
	48,679	46,796	1,883
	161,390	160,205	1,185
	250,000	232,988	17,012
	287,554	276,896	10,658
	199,834	192,419	7,415
	15,179	15,019	160
	89,051	87,723	1,328
	62,740	61,681	1,059
	13,085	12,933	152
	127,828	125,871	1,957
	9,990	10,008	-18
	11,706	12,127	-421
	23,705	21,479	2,226
	10,935	10,979	-44
	4,121	4,370	-249
	12,697	11,860	837
	3,085	3,155	-70
	612	649	-37
	1,461	1,499	-38
	5,359	4,866	493
	990	1,047	-57
	1,096	1,160	-64
	1,406	1,451	-45
	8,047	7,510	537
	7,889	8,323	-434
	3,135	3,323	-188
	4,813	4,466	347
	7,163	6,388	775
	777	716	61
	3,467	3,590	-123
	10,840	9,643	1,197
	10,998	10,994	4
	4,998	5,004	-6
	29,341	29,614	-273
	50,869	48,902	1,967
	12,833	12,700	133
	121,397	117,061	4,336
	116,339	110,518	5,821
	26,401	25,486	915
	19,514	18,540	974
	15,849	15,291	558
	15,821	15,291	530
	4,965	5,143	-178
	8,428	7,637	791
	6,550	6,577	-27
	3,056	3,240	-184
	1,311	1,225	86
	4,093	4,186	-93
	1,123	1,191	-68
	3,776	3,875	-99
	5,503	4,997	506
	1,921	2,032	-111
	1,551	1,641	-90
	6,381	6,585	-204
	9,031	8,429	602
	7,355	7,759	-404
	4,393	4,656	-263
	3,388	3,143	245
	11,113	9,912	1,201
	3,854	3,555	299
	3,561	3,687	-126
	11,986	10,662	1,324
	162,229	177,106	-14,877
	94,953	91,741	3,212
	15,927	15,290	637
	5,309	5,037	272
	8,489	8,059	430
	55,179	52,341	2,838
	363,453	361,877	1,576
	127,700	126,354	1,346
	28,917	29,187	-270
	49,366	47,457	1,909
	53,949	53,387	562
	34,575	36,128	-1,553
	58,586	61,172	-2,586
	55,704	57,909	-2,205
	100,844	95,127	5,717
	195,820	185,398	10,422
	5,915	5,636	279
	9,597	9,942	-345
	6,639	6,015	624
	6,940	6,968	-28
	4,930	5,228	-298
	10,200	9,528	672
	4,141	4,235	-94
	190	201	-11
	1,992	2,045	-53
	5,465	4,963	502
	1,789	1,892	-103
	6,628	6,840	-212
	6,612	6,171	441
	1,786	1,885	-99
	3,194	3,385	-191
	1,585	1,471	114
	12,856	11,466	1,390
	4,088	3,771	317
	3,125	3,235	-110
	9,619	8,556	1,063
	7,153	7,076	77
	670,189	670,648	-459
	806,170	796,314	9,856
	196,414	185,398	11,016
	118,896	121,934	-3,038
	190,234	193,672	-3,438
	128,408	128,888	-480
	295,898	302,784	-6,886
	26,781	27,031	-250
	63,347	62,686	661
	47,049	45,229	1,820
	10,966	11,360	-394
	8,501	7,703	798
	20,033	20,114	-81
	4,576	4,853	-277
	5,894	5,505	389
	2,900	2,966	-66
	810	858	-48
	3,786	3,886	-100
	5,164	4,689	475
	1,780	1,882	-102
	6,614	6,826	-212
	5,817	5,429	388
	1,052	1,110	-58
	8,207	8,698	-491
	3,708	3,440	268
	9,255	8,255	1,000
	4,205	3,879	326
	2,958	3,063	-105
	11,054	9,833	1,221
	9,845	9,739	106
	26,195	26,440	-245
	47,025	45,207	1,818
	63,128	62,469	659
	19,139	19,827	-688
	15,801	14,317	1,484
	14,609	14,668	-59
	5,883	6,239	-356
	3,090	2,886	204
	3,148	3,219	-71
	188	199	-11
	3,700	3,797	-97
	5,611	5,096	515
	333	352	-19
	6,520	6,729	-209
	4,504	4,204	300
	1,067	1,125	-58
	1,469	1,557	-88
	3,260	3,025	235
	12,615	11,251	1,364
	893	824	69
	3,148	3,259	-111
	9,720	8,647	1,073
	7,667	7,584	83
	4,816	4,749	67
	1,314,296	1,309,779	4,517
	1,369,515	1,347,328	22,187
	23,854	24,077	-223
	44,243	42,532	1,711
	59,830	59,206	624
	4,783	4,955	-172
	13,661	13,717	-56
	5,864	6,218	-354
	7,325	6,842	483
	3,523	3,603	-80
	232	246	-14
	4,332	4,446	-114
	5,621	5,104	517
	791	836	-45
	1,473	1,521	-48
	1,486	1,387	99
	7,868	8,301	-433
	3,058	3,241	-183
	3,438	3,190	248
	9,950	8,874	1,076
	804	742	62
	2,985	3,091	-106
	6,973	6,898	75
	40,219	39,660	559
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
			5,190,169
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			5,190,169
			5,190,169
			5,190,169

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			2,149
b			144
c			-993
d			-739
e			-1,348
			1,572
			-414
			940
			-444
			272
			162
			-72
			-60
			-69
			5,456
			854
			-20
			-53
			-202
			103
			438
			-61
			-229
			197
			579
			-96
			870
			-185
			-1,503
			-5,963
			-2,446
			-810
			-1,525
			2,270
			150
			-3,020
			-3,054
			-4,572
			-10,684
			805
			357
			-50
			671
			-141
			196
			458
			-72
			-12
			-53
			532
			356
			-62
			-43
			-49
			97
			350
			-61
			-212
			328
			317
			-95
			1,007
			-624
			136
			1,121
			326
			862
			537
			-189
			-268
			-256
			-230
			-616
			-495
			-26
			-45
			-55
			-103
			-47
			49
			2,135
			137
			4,979
			-19,895
			-23,307
			298
			9
			292
			27
			14
			126
			-294
			1,677
			-238
			941
			398
			-62
			-11
			-51
			603
			628
			-100
			-37
			-369
			538
			309
			-58
			-233
			315
			70
			-104
			1,230
			-1,567

			2,169
			136
			-2,032
			-174
			2,029
			-55
			-177
			211
			-82
			-48
			-54
			522
			-106
			-87
			-209
			387
			-61
			-401
			201
			356
			-126
			1,266
			-27,211
			92,567
			74,699
			546,879
			55,605
			2,184
			131
			-3,297
			-15,572
			1,337
			-2,191
			-307
			2,088
			-38
			-282
			654
			-90
			-14
			-116
			6,567
			-20
			-21
			-126
			442
			-66
			-289
			291
			1,361
			329
			-107
			1,287
			2,056
			34
			-73
			-861
			-290
			501
			-54
			-150
			521
			-72
			-11
			-98
			7,893
			-85
			-147
			-294
			721
			-773
			-264
			363
			1,335
			61
			-122
			1,255
			-4
			6,930
			-81
			1,883
			1,185
			17,012
			10,658
			7,415
			160
			1,328
			1,059
			152
			1,957
			-18
			-421
			2,226
			-44
			-249
			837
			-70
			-37
			-38
			493
			-57
			-64
			-45
			537
			-434
			-188
			347
			775
			61
			-123
			1,197
			4
			-6
			-273
			1,967
			133
			4,336
			5,821
			915
			974
			558
			530
			-178
			791
			-27
			-184
			86
			-93
			-68
			-99
			506
			-111
			-90
			-204
			602
			-404
			-263
			245
			1,201
			299
			-126
			1,324
			-14,877
			3,212
			637
			272
			430
			2,838
			1,576
			1,346
			-270
			1,909
			562
			-1,553
			-2,586
			-2,205
			5,717
			10,422
			279
			-345
			624
			-28
			-298
			672
			-94
			-11
			-53
			502
			-103
			-212
			441
			-99
			-191
			114
			1,390
			317
			-110
			1,063
			77
			-459
			9,856
			11,016
			-3,038
			-3,438
			-480
			-6,886
			-250
			661
			1,820
			-394
			798
			-81
			-277
			389
			-66
			-48
			-100
			475
			-102
			-212
			388
			-58
			-491
			268
			1,000
			326
			-105
			1,221
			106
			-245
			1,818
			659
			-688
			1,484
			-59
			-356
			204
			-71
			-11
			-97
			515
			-19
			-209
			300
			-58
			-88
			235
			1,364
			69
			-111
			1,073
			83
			67
			4,517
			22,187
			-223
			1,711
			624
			-172
			-56
			-354
			483
			-80
			-14
			-114
			517
			-45
			-48
			99
			-433
			-183
			248
			1,076
			62
			-106
			75
			559

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	5,978,617
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	146,744
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	146,744
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	146,744
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	79,500
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	79,500
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	67,244
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax0	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. right arrow

$ (2) On foundation managers. right arrow

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

on foundation managers. right arrow

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

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

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

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

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

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

Yes

Website address right arrow

The books are in care of right arrow

GJ Sinclair Telephone no. right arrow

(847) 535-2030

Located at right arrow

100 GRAINGER PARKWAYLAKE FORESTIL ZIP+4 right arrow

600452501

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... right arrow

and enter the amount of tax-exempt interest received or accrued during the year ........ right arrow

16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

Yes

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

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

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation

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

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

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

if the foundation had excess business holdings in 2024.) .....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation
D W Grainger	Director 20	0
100 Grainger Parkway Lake Forest,IL60045	Director 20	0
G J Sinclair	Senior Vice President & Secretary 30	324,215	79,179
100 Grainger Parkway Lake Forest,IL60045	Senior Vice President & Secretary 30	324,215	79,179
W B Hayden	Vice President 4	40,000
100 Grainger Parkway Lake Forest,IL60045	Vice President 4	40,000
C J Bellmore	Treasurer 6	50,000
100 Grainger Parkway Lake Forest,IL60045	Treasurer 6	50,000
J S Chapman	Chairman Emeritus & Director 10	100,000
150 S Wacker Dr SUITE 2400 Chicago,IL60606	Chairman Emeritus & Director 10	100,000
Julia Wold	Vice President 23	120,100
1057 East Illinois Road Lake Forest,IL60045	Vice President 23	120,100
J L Howard	Chairman, President & Director 15	200,000
100 Grainger Parkway Lake Forest,IL60645	Chairman, President & Director 15	200,000
J T Ryan	Director 4	0
100 Grainger Parkway Lake Forest,IL60045	Director 4	0

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


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









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

Form 990-PF (2024)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
Bank of America	FINANCIAL	588,269
110 N WACKER DRIVE CHICAGO,IL60606	FINANCIAL	588,269
William Blair	FINANCIAL	100,543
150 N RIVERSIDE PLAZA CHICAGO,IL60606	FINANCIAL	100,543
MAYER BROWN LLP	LEGAL	51,825
71 S WACKER DRIVE CHICAGO,IL60606	LEGAL	51,825

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

Part VIII-A

Summary of Direct Charitable Activities

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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

276,175,509

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

5,031,499

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

561,565

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

281,768,573

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

281,768,573

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

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

4,226,529

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

277,542,044

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

13,877,102

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part IX, line 6..................

13,877,102

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

146,744

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

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

146,744

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

13,730,358

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

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

13,730,358

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

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

13,730,358

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

20,371,926

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

20,371,926

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					13,730,358
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......	108,674,353
b From 2020......	67,581,605
c From 2021......	46,870,271
d From 2022......	31,640,609
e From 2023......	4,413,477
f Total of lines 3a through e ........		259,180,315
4Qualifying distributions for 2024 from Part
XI, line 4: $ 20,371,926
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.....					13,730,358
e Remaining amount distributed out of corpus		6,641,568
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		265,821,883
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) ...		108,674,353
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		157,147,530
10 Analysis of line 9:
a Excess from 2020....	67,581,605
b Excess from 2021....	46,870,271
c Excess from 2022....	31,640,609
d Excess from 2023....	4,413,477
e Excess from 2024....	6,641,568

Form 990-PF (2024)

Page 10

Part XIII

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

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2024	(b) 2023	(c) 2022	(d) 2021	(e) Total

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

Part XIV

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

1Information Regarding Foundation Managers:

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

D W GRAINGER

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.

NONE

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

Check here right arrow

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

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2024)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
SEE ATTACHED SCHEDULE SEE ATTACHED SEE ATTACHED,IL11111	N/A	PC	SEE ATTACHED SCHEDULE	20,371,926
Total ................................. 3a				20,371,926

bApproved for future payment

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

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....			14	5,328,934
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	5,978,617
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				11,307,551

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

11,307,551

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2024)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADMINISTRATION	5,670	0		0
SUBSCRIPTION	2,170	0		0
ACCOUNTING SOFTWARE	2,067	0		0
BANK SERVICE FEE	897	0		0
IL ATTORNEY GENERAL FILING FEE	15	0		0
IL ANNUAL REPORT FILING FEE	10	0		0
MISCELLANEOUS EXPENSE	10,269	0		0

Category	Amount	Net Investment Income
BANK OF AMERICA	586,769	586,769
WILLIAM BLAIR	100,518	100,518
NORTHERN TRUST	25,000	25,000

Category	Amount	Net Investment Income
EXCISE TAX - PRIOR YEAR	30,320	0
ESTIMATED TAX PAID	79,500	0
FOREIGN TAXES	42,606	42,606

Description	Amount
DONATIONS OF STOCK (FMV LESS COST)	12,728,769
YEAR END SALES ADJUSTMENTS	984