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
THE BULLITT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1501 EAST MADISON STREET 600
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SEATTLE, WA981224013
A Employer identification number

91-6027795
B Telephone number (see instructions)

(206) 330-9004
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$46,399,562J 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... 934,610 936,502  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 276,272
b Gross sales price for all assets on line 6a 4,370,774
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
-28,850 -3,805  
12 Total. Add lines 1 through 11........ 1,182,032 932,697  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 658,694 81,941   576,753
14 Other employee salaries and wages...... 251,696 0   242,803
15 Pension plans, employee benefits....... 271,371 22,550   259,850
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
275 0   473
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
28,869 2,567   26,302
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
31,844 10,322   27,372
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
586 0   586
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 50,469 0   50,469
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
31,107 9,660   30,995
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,324,911 127,040   1,215,603
25 Contributions, gifts, grants paid....... 4,121,654 2,441,654
26 Total expenses and disbursements. Add lines 24 and 25 5,446,565 127,040   3,657,257
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -4,264,533
b Net investment income (if negative, enter -0-) 805,657
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 200,225    
2 Savings and temporary cash investments......... 342,889 12,438,856 12,438,856
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 442 1,345 1,345
10a Investments—U.S. and state government obligations (attach schedule) 10,473,988 Click to see attachment
List of Attached Documents:
// Content
1,033,003 		1,033,003
b Investments—corporate stock (attach schedule)....... 4,009,324 Click to see attachment
List of Attached Documents:
// Content
2,934,936 		2,934,936
c Investments—corporate bonds (attach schedule)....... 3,614,265 0 0
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).......... 2,231,629 Click to see attachment
List of Attached Documents:
// Content
2,193,204 		2,193,204
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
27,834,062 		Click to see attachment
List of Attached Documents:
// Content
27,798,218 		Click to see attachment
List of Attached Documents:
// Content
27,798,218
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 48,706,824 46,399,562 46,399,562
Liabilities 17 Accounts payable and accrued expenses.......... 153,271 140,564
18 Grants payable................. 2,025,000 3,705,000
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) Click to see attachment
List of Attached Documents:
// Content
1,650,000 		Click to see attachment
List of Attached Documents:
// Content
1,950,000
23 Total liabilities (add lines 17 through 22)......... 3,828,271 5,795,564
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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 44,878,553 40,603,998
29 Total net assets or fund balances (see instructions)..... 44,878,553 40,603,998
30 Total liabilities and net assets/fund balances (see instructions). 48,706,824 46,399,562
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
44,878,553
2
Enter amount from Part I, line 27a .....................
2
-4,264,533
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
4,077
4
Add lines 1, 2, and 3 ..........................
4
40,618,097
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
14,099
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
40,603,998
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b METROPOLITAN REAL ESTATE PARTNERS GLOBAL II-T, LP P 2022-01-01 2024-12-31
c LEGACY VENTURE IV P 2022-01-01 2024-12-31
d EQUILIBRIUM PARTNERS I LB P 2022-01-01 2024-12-31
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 4,370,774   4,094,502 276,272
b 4,816     4,816
c     2,319 -2,319
d     1,012,121 -1,012,121
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       276,272
b       4,816
c       -2,319
d       -1,012,121
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -733,352
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 11,199
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 11,199
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 11,199
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 44,724
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 44,724
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 33,525
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow33,525 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment
List of Attached Documents:
// Content
....
3
Yes
 
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 arrowWA, CA
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
Yes
 
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.BULLITT.ORG
14
The books are in care ofright arrowSALLEY ANDERSON Telephone no.right arrow (206) 330-9004

Located atright arrow1501 EAST MADISON STREETSEATTLEWA ZIP+4right arrow98122
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)
Yes
 
(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)
Yes
 
(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
 
No
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
DENIS HAYES CEO & CHAIR
40.00 		337,388 68,453 0
1501 E MADISON STREET 600
SEATTLE,WA98122
SALLEY ANDERSON CFO & TREASURER
40.00 		321,306 59,882 0
1501 E MADISON STREET 600
SEATTLE,WA98122
JESSIE WOOLLEY-WILSON VICE CHAIR
0.20 		0 0 0
1501 E MADISON STREET 600
SEATTLE,WA98122
ROB PENA SECRETARY
0.20 		0 0 0
1502 E MADISON STREET 600
SEATTLE,WA98122
ERIM GOMEZ TRUSTEE
0.20 		0 0 0
1503 E MADISON STREET 600
SEATTLE,WA98122
MARK EDLEN TRUSTEE
0.20 		0 0 0
1505 E MADISON STREET 600
SEATTLE,WA98122
PAUL SCHWER TRUSTEE
0.20 		0 0 0
1506 E MADISON STREET 600
SEATTLE,WA98122
LISA GRAUMLICH TRUSTEE
0.20 		0 0 0
1507 E MADISON STREET 600
SEATTLE,WA98122
HOWARD FRUMKIN TRUSTEE
0.20 		0 0 0
1508 E MADISON STREET 600
SEATTLE,WA98122
RICO QUIRINDONGO TRUSTEE
0.20 		0 0 0
1509 E MADISON STREET 600
SEATTLE,WA98122
ROD BROWN TRUSTEE
0.20 		0 0 0
1510 E MADISON STREET 600
SEATTLE,WA98122
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
NEELIMA SHAH SENIOR PROGRAM OFFIC
40.00 		161,122 37,385 0
1501 E MADISON 600
SEATTLE,WA98122
MARY MCNAIR DIRECTOR OF GRANTS
40.00 		101,656 35,727 0
1501 E MADISON 600
SEATTLE,WA98122
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 THE BULLITT FOUNDATION PAID $47,396 IN 2024 FOR CHARITABLE ACTIVITIES PRIMARILY RELATED TO EDUCATION.THIS INCLUDES A DOCENT WHO GIVES BUILDING TOURS TO ORGANIZATIONS WHO ARE INTERESTED IN IMPLEMENTING SOME OF THE BULLITT CENTER FEATURES AND TO STUDENTS FOR A GENERAL ENVIRONMENTAL EDUCATION. SHE WORKS 15 HOURS PER WEEK FOR 750 HOURS A YEAR. IN 2024, THE BULLITT CENTER SAW 1,654 VISITORS ON 79 TOURS (PUBLIC AND PRIVATE).AN ENERGY SYSTEM EXPERT EDUCATED INVESTORS AND OTHER BUILDING OWNERS HOW TO FINANCIALLY BENEFIT FROM RETROFITTING THEIR BUILDINGS TO INCLUDE SOME OF THE BULLITT CENTER FEATURES AND DRASTICALLY REDUCE THEIR ENERGY CONSUMPTION. HE WORKED 10 HOURS PER WEEK FOR 4 MONTHS IN 2024. 47,396
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
10,408,225
b
Average of monthly cash balances.......................
1b
5,965,271
c
Fair market value of all other assets (see instructions)................
1c
2,226,789
d
Total (add lines 1a, b, and c).........................
1d
18,600,285
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
18,600,285
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
279,004
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
18,321,281
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
916,064
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
916,064
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
11,199
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
11,199
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
904,865
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
904,865
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
904,865
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
3,657,257
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,657,257
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 7 904,865
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...... 5,760,905
b From 2020...... 6,622,663
c From 2021...... 4,705,903
d From 2022...... 6,126,972
e From 2023...... 6,959,207
f Total of lines 3a through e ........ 30,175,650
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,657,257
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..... 904,865
e Remaining amount distributed out of corpus 2,752,392
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 32,928,042
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) ... 		5,760,905
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		27,167,137
10 Analysis of line 9:
a Excess from 2020.... 6,622,663
b Excess from 2021.... 4,705,903
c Excess from 2022.... 6,126,972
d Excess from 2023.... 6,959,207
e Excess from 2024.... 2,752,392
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

WASHINGTON STATE UNIVERSITY FOUNDATION

PO BOX 641925
PULLMAN,WA99164 		  PC FOR CONTINUED SUPPORT OF THE BREAD LAB, A PROJECT OF WASHINGTON STATE UNIVERSITY. 60,000

INVESTIGATEWEST

PO BOX 9574
SEATTLE,WA98109 		  PC FOR GENERAL SUPPORT. 35,000

INSTITUTE FOR WASHINGTON'S FUTURE

2720 VALENCIA STREET
BELLINGHAM,WA98226 		  PC FOR GENERAL SUPPORT. 60,000

HEALTH CARE WITHOUT HARM

12110 SUNSET HILLS RD SUITE 600
RESTON,VA20190 		  PC TO CONTINUE ENCOURAGING HOSPITALS TO REDUCE FOOD WASTE, DECREASE MEAT PURCHASES AND PROVIDE PLANT-FORWARD MEALS. 50,000

FUTUREWISE

816 SECOND AVE 200
SEATTLE,WA98104 		  PC FOR A GENERAL SUPPORT EXIT GRANT. 100,000

ECOTRUST

1140 SE 7TH AVE SUITE 150
PORTLAND,OR97214 		  PC TO ADVANCE A CLIMATE RESILIENT FOOD SYSTEM IN OREGON AND WASHINGTON. 57,500

EARTHJUSTICE

705 2ND AVE SUITE 203
SEATTLE,WA981041711 		  PC TO SUPPORT THE NORTHWEST REGIONAL OFFICE WHOSE ATTORNEYS PROVIDE FREE LEGAL ADVICE AND REPRESENTATION. 75,000

EARTHGEN

4649 SUNNYSIDE AVE N SUITE 305
SEATTLE,WA98103 		  PC FOR GENERAL SUPPORT. 40,000

NATIONAL CAUCUS OF ENVIRONMENTAL LEGISLATORS

1100 17TH STREET NW SUITE 600
WASHINGTON,DC20036 		  PC TO ORGANIZE REGIONAL COLLABORATION FOR STATE LEGISLATORS IN WASHINGTON AND OREGON IN SUPPORT OF IMPLEMENTATION OF CLIMATE AND ENERGY POLICY. 45,000

DUWAMISH RIVER CLEANUP COALITION

7400 3RD AVE S
SEATTLE,WA98108 		  PC GENERAL SUPPORT GRANT 70,000

CLIMATE SOLUTIONS

1402 3RD AVE SUITE 1200
SEATTLE,WA98101 		  PC GENERAL SUPPORT GRANT 50,000

CLIMATE SOLUTIONS

1402 3RD AVE SUITE 1200
SEATTLE,WA98101 		  PC GENERAL SUPPORT GRANT 25,000

CITIZENS UTILITY BOARD

610 SW BROADWAY STE 400
PORTLAND,OR97205 		  PC FOR A GENERAL SUPPORT EXIT GRANT TO SUPPORT STRONG IMPLEMENTATION OF THE OREGON CLIMATE ACTION PLAN. 35,000

CENTER FOR SUSTAINABLE INFRASTRUCTURE

120 STATE AVE NE 303
OLYMPIA,WA98501 		  PC FOR GENERAL SUPPORT. 75,000

CASCADIA POLICY SOLUTIONS (WWF)

1250 24TH ST NW
WASHINGTON,DC20037 		  PC TO SUPPORT THE PACIFIC COAST COLLABORATIVE A REGIONAL COLLABORATIVE THAT HAS ADOPTED A GOAL TO REDUCE FOOD WASTE. 50,000

BREACH COLLECTIVE

PO BOX 5291
EUGENE,OR97405 		  PC FOR A TWO-YEAR EXIT GRANT TO OPPOSE THE ONGOING OPERATIONS AND PROPOSED EXPANSION OF THE ZENITH OIL TERMINAL IN PORTLAND. 40,000

BLUEGREEN ALLIANCE FOUNDATION

2701 UNIVERSITY AVE SE SUITE 209
MINNEAPOLIS,MN55414 		  PC TO LEVERAGE THE STRENGTH OF THE LABOR-ENVIRONMENTAL ALLIANCE TO ACHIEVE GREENHOUSE GAS REDUCTIONS NEEDED TO MEET STATE CLIMATE GOALS. 80,000

COALITION OF COMMUNITIES OF COLOR

221 NW 2ND AVE SUITE 303
PORTLAND,OR97209 		  PC TO PARTNER WITH THE CITY OF PORTLAND AND GREEN BUILDING ADVOCATES TO SECURE ADOPTION AND IMPLEMENTATION OF EQUITABLE RESIDENTIAL BUILDING STANDARDS. 50,000

350 SEATTLE

5031 UNIVERSITY WAY NE
SEATTLE,WA98105 		  PC AS AN EXIT GRANT FOR THE ACTIVITIES OF THE AMAZON EMPLOYEES FOR CLIMATE JUSTICE PROGRAM. 90,000

NORTHWEST ENVIRONMENTAL DEFENSE CENTER

10015 SW TERWILLIGER BLVD
PORTLAND,OR97219 		  PC FOR CONTINUED ADVOCACY TO SECURE REGULATIONS AND ACCOUNTABILITY THAT RESULT IN IMPROVED AIR QUALITY AND DECARBONIZATION BENEFITS FOR TRADITIONALLY DISADVANTAGED COMMUNITIES. 55,000

RENEWABLE NORTHWEST PROJECT

421 SW 6TH AVE SUITE 1400
PORTLAND,OR972041625 		  PC FOR GENERAL SUPPORT. 80,000

WASHINGTON PHYSICIANS FOR SOCIAL RESPONSIBILITY

2524 16TH AVE S 300
SEATTLE,WA98144 		  PC TO SUPPORT THE CONTINUED DEVELOPMENT OF FUND RAISING CAPACITY, DIVERSIFICATION OF FUNDING SOURCES AND SYSTEM INFRASTRUCTURE. 40,000

WASHINGTON CONSERVATION ACTION

1402 THIRD AVE 1400
SEATTLE,WA98101 		  PC BULLITT PRIZE ENDOWMENT 100,000

WASHINGTON CONSERVATION ACTION

1402 THIRD AVE 1400
SEATTLE,WA98101 		  PC FOR GENERAL SUPPORT. 25,000

VERDE

4145 NE CULLY BLVD
PORTLAND,OR97218 		  PC TO PLAN A CLEAN MATERIALS CAMPUS CAMPUS IN NE PORTLAND, OREGON. FOR GENERAL SUPPORT 100,000

URBAN SUSTAINABILITY DIRECTORS NETWORK

500 WESTOVER DRIVE 14973
SANFORD,NC27330 		  PC FOR THE USDN WESTERN REGIONAL MEETING IN PORTLAND. 25,000

UNIVERSITY OF WASHINGTON FOUNDATION

407 GERBERDING HALL BOX 351210
SEATTLE,WA981951210 		  PC TO SUPPORT BULLITT CENTER TOURS 28,596

UNIVERSITY OF WASHINGTON FOUNDATION

407 GERBERDING HALL BOX 351210
SEATTLE,WA981951210 		  PC HARRISON ENDOWMENT AT THE EVANS SCHOOL 100,000

OREGON ENVIRONMENTAL COUNCIL

PO BOX 14822
PORTLAND,OR97239 		  PC FOR GENERAL SUPPORT. 95,000

TRANSPORTATION CHOICES COALITION

1402 3RD AVE SUITE 310
SEATTLE,WA98101 		  PC TO BUILD ORGANIZATIONAL CAPACITY AND ADVOCATE FOR NEW REVENUE SOURCES TO SUPPORT PUBLIC TRANSIT. 100,000

TIDES FOUNDATION

PO BOX 29903 THE PRESIDIO
SAN FRANCISCO,CA941290903 		  PC FOR GENERAL SUPPORT. 45,000

SPARK NORTHWEST

1402 3RD AVE SUITE 901
SEATTLE,WA98101 		  PC FOR GENERAL SUPPORT. 50,000

SIGHTLINE INSTITUTE

1402 THIRD AVE SUITE 500
SEATTLE,WA98101 		  PC FOR A GENERAL SUPPORT EXIT GRANT. 95,000

SIERRA CLUB FOUNDATION

2101 WEBSTER ST SUITE 1250
OAKLAND,CA94612 		  PC AS AN EXIT GRANT FOR THE ACTIVITIES OF THE WASHINGTON STATE CHAPTER OF THE SIERRA CLUB. 40,000

SEATTLE PARKS FOUNDATION

1501 E MADISON ST SUITE 510
SEATTLE,WA98122 		  PC FOR AN EXIT GRANT TO SUPPORT THE EMERALD ALLIANCE FOR PEOPLE, NATURE AND COMMUNITY. 50,000

SEATTLE NEIGHBORHOOD GREENWAYS

1424 11TH AVE STE 400
SEATTLE,WA98122 		  PC FOR GENERAL SUPPORT. 60,000

TOXIC-FREE FUTURE

4649 SUNNYSIDE AVE N SUITE 540
SEATTLE,WA98103 		  PC TO ADVOCATE FOR THE ELIMINATION OF TOXICS IN THE EMERALD CORRIDOR WHILE PROMOTING THE USE OF SAFER ALTERNATIVE PRODUCTS AND INHERENTLY NONTOXIC CHEMICALS. 125,000

350 PDX

3625 N MISSISSIPPI AVE
PORTLAND,OR97227 		  PC GENERAL SUPPORT GRANT 45,000
KRISTINA CHU


1501 E MADISON ST
SEATTLE,WA98122 		NONE I BULLITT PRIZE AWARD WINNER 50,000
AXCELLE BELL


1501 E MADISON ST
SEATTLE,WA98122 		NONE I BULLITT PRIZE AWARD WINNER 25,000

FIDELITY CHARITABLE GIFT FUND

PO BOX 770001
CINCINNATI,OH452770053 		  PC MATCHING GRANTS 5,000

COMMUNITY DAY CENTER FOR CHILDREN

165 22ND AVE
SEATTLE,WA98122 		  PC MATCHING GRANTS 781

EVERGREEN MOUNTAIN BIKE ALLIANCE

249 MAIN AVE S SUITE 107-188
NORTHBEND,WA98045 		  PC MATCHING GRANTS 1,093

WASHINGTON CONSERVATION ACTION

1402 3RD AVENUE 1400
SEATTLE,WA98101 		  PC MATCHING GRANTS 150

CLIMATE SOLUTIONS

1402 3RD AVENUE
SEATTLE,WA98101 		  PC MATCHING GRANTS 150

SEATTLE PARKS FOUNDATION

1501 E MADISON ST SUITE 510
SEATTLE,WA98121 		  PC MATCHING GRANTS 1,440

MIDLAND ELEMENTARY SCHOOL

2300 105TH ST E
TACOMA,WA98445 		  GOV MATCHING GRANTS 155

RESILIENT HEARTS ANIMAL SANCTUARY

3409 STONE WAY N
SEATTLE,WA98103 		  PC MATCHING GRANTS 2,100

HIGHLAND TERRACE PTA

100 NORTH 160TH
SHORELINE,WA98133 		  PC MATCHING GRANTS 600

PLANNED PARENTHOOD

2001 E MADISON ST
SEATTLE,WA98122 		  PC MATCHING GRANTS 310

OLDDOG HAVEN

PO BOX 1409
OAK HARBOR,WA98277 		  PC MATCHING GRANTS 150

WASHINGTON PROGRESS FUND

1424 11TH AVE STE 400
SEATTLE,WA98122 		  PC MATCHING GRANTS 5,000

KUOW

PO BOX 84148
SEATTLE,WA98124 		  PC MATCHING GRANTS 549

MERCER ISLAND YOUTH AND FAMILY SERVICES

2040 84TH AVE
MERCER ISLAND,WA98040 		  PC MATCHING GRANTS 618

PACIFIC PUBLIC MEDIA (DBA KNKX)

930 BROADWAY
TACOMA,WA98402 		  PC MATCHING GRANTS 540

SEATTLE HUMANE

13212 SE EASTGATE WAY
BELLEVUE,WA98005 		  PC MATCHING GRANTS 1,922
Total .................................right arrow 3a 2,441,654
bApproved for future payment

WASHINGTON CONSERVATION ACTION
1402 THIRD AVE 1400
SEATTLE,WA98101 		  PC BULLITT PRIZE ENDOWMENT 3,700,000

ST BENEDICT'S PREPARATORY SCHOOL
520 DR MARTIN LUTHER KING JR BLVD
NEWARK,NJ07102 		  PC MATCHING GRANTS 5,000
Total ................................. right arrow 3b 3,705,000
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 ....     14 934,610  
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 ............ 		    18 276,272  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPARTNERSHIP INVESTMENTS 		    18 -28,850  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,182,032 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,182,032
(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:
THE BULLITT FOUNDATION
EIN:
91-6027795
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 28,869 2,567   26,302

TY 2024 GeneralExplanationAttachment
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Identifier Return Reference Explanation
  FORM 990-PF, PART VII-A, LINE 11 SCHEDULE OF CONTROLLED ENTITIESNAME AND ADDRESS OF CONTROLLED ENTITY:BULLITT CENTER1501 EAST MADISON STREET #600SEATTLE, WA 98122EMPLOYER IDENTIFICATION NUMBER:27-2658448EXCESS BUSINESS HOLDING:NO

TY 2024 InvestmentsCorpStockSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Name of Stock End of Year Book Value End of Year Fair Market Value
SCHWAB ONE 2,934,936 2,934,936

TY 2024 InvestmentsGovtObligationsSch
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
US Government Securities - End of Year Book Value:

1,033,003
US Government Securities - End of Year Fair Market Value:

1,033,003
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 InvestmentsOtherSchedule2
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
METROPOLITAN REAL ESTATE FMV 171,366 171,366
EQUILIBRIUM PARTNERS I FMV 1,808,556 1,808,556
LEGACY VENTURE IV FMV 213,282 213,282

TY 2024 LegalFeesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 275 0   473


TY 2024 OtherAssetsSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
SECURITY DEPOSITS 7,477 0 0
FUNCTIONALLY RELATED BUSINESS 27,696,114 27,696,114 27,696,114
MISC RECEIVABLE 69,702 37,257 37,257
FEDERAL EXCISE TAX 60,769 64,847 64,847


TY 2024 OtherDecreasesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Amount
UNREALIZED CAPITAL GAINS\LOSSES 14,099


TY 2024 OtherExpensesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DUES & SUBSCRIPTIONS 2,163 0   2,163
INSURANCE 4,016 0   4,016
TELEPHONE & INTERNET 7,713 0   8,028
BANK FEES 60 0   60
SUPPLIES 11,554 0   11,554
MISCELLANEOUS 3,693 0   3,266
MEALS & ENTERTAINMENT 1,908 0   1,908
K-1 DEDUCTIONS 0 9,660   0


TY 2024 OtherIncomeSchedule2
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PARTNERSHIP INVESTMENTS -28,850 -3,805 -28,850


TY 2024 OtherIncreasesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Amount
PPA - NO 4940 AFFECT 4,077


TY 2024 OtherLiabilitiesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Description Beginning of Year - Book Value End of Year - Book Value
DUE FROM SUBSIDIARY 1,650,000 1,950,000


TY 2024 OtherProfessionalFeesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
CONSULTING 21,522 0   27,372
INVESTMENT MANAGEMENT FEES 10,322 10,322   0


TY 2024 TaxesSchedule
Name:
THE BULLITT FOUNDATION
EIN:
91-6027795
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PERSONAL PROPERTY TAXES 586 0   586