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 Tapeats Fund
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

76-0412011
B Telephone number (see instructions)

(800) 839-1754
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$18,921,250J 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) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments 42,005 42,005  
4 Dividends and interest from securities... 611,223 611,223  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 601,687
b Gross sales price for all assets on line 6a 4,720,443
7 Capital gain net income (from Part IV, line 2)... 601,687
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
302,963 60,174  
12 Total. Add lines 1 through 11........ 1,557,878 1,315,089  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
100,135 84,274   15,861
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
20,652 2    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 29,322     29,322
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
128,443 49,722   78,324
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 278,552 133,998   123,507
25 Contributions, gifts, grants paid....... 770,500 770,500
26 Total expenses and disbursements. Add lines 24 and 25 1,049,052 133,998   894,007
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 508,826
b Net investment income (if negative, enter -0-) 1,181,091
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 747,309 912,133 912,133
3 Accounts receivable right arrow1,550,007
Less: allowance for doubtful accounts right arrow     1,550,007 1,550,007
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,682,969 Click to see attachment
List of Attached Documents:
// Content
1,617,818 		1,544,805
b Investments—corporate stock (attach schedule)....... 10,173,339 Click to see attachment
List of Attached Documents:
// Content
8,653,859 		10,682,956
c Investments—corporate bonds (attach schedule)....... 1,161,612 Click to see attachment
List of Attached Documents:
// Content
1,643,692 		1,624,890
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).......... 2,628,347 Click to see attachment
List of Attached Documents:
// Content
2,524,893 		2,606,459
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 16,393,576 16,902,402 18,921,250
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 16,393,576 16,902,402
29 Total net assets or fund balances (see instructions)..... 16,393,576 16,902,402
30 Total liabilities and net assets/fund balances (see instructions). 16,393,576 16,902,402
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
16,393,576
2
Enter amount from Part I, line 27a .....................
2
508,826
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
16,902,402
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
16,902,402
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 Passthrough K1 Capital Gain/(Loss)      
c AP ENERGY INFRASTRUCTURE FND LLC P 2013-02-27 2024-12-31
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 3,170,436   3,104,111 66,325
b       529,568
c 1,550,007   1,544,213 5,794
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       66,325
b        
c       5,794
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 601,687
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 16,417
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  
3 Add lines 1 and 2........................... 3 16,417
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 16,417
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 7,263
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 10,700
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 17,963
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 1,546
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow1,546 Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 arrowTX
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Margaret Borho Executive Dir, Sec
20.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
David R Graham Trustee
0.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Laurel A Graham Executive VP, Trustee
0.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Robert H Graham Pres, Treas, Trustee
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Spencer R Graham Trustee
0.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Whitney G Mixon Trustee
0.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
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
 
Total number of other employees paid over $50,000...................right arrow  
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
CIBC Private Wealth Management Investment Mgmt 84,274
177 AVENUE OF THE AMERICAS
NEW YORK,NY10036
Foundation Source Administrative 75,241
55 Walls Drive Suite 302
Fairfield,CT06824
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)
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
14,188,173
b
Average of monthly cash balances.......................
1b
900,594
c
Fair market value of all other assets (see instructions)................
1c
3,887,825
d
Total (add lines 1a, b, and c).........................
1d
18,976,592
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
18,976,592
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
284,649
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
18,691,943
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
934,597
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
934,597
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
16,417
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
45,528
c
Add lines 2a and 2b............................
2c
61,945
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
872,652
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
872,652
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
872,652
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
894,007
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
894,007
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 7 872,652
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 210,828
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 894,007
a Applied to 2023, but not more than line 2a 210,828
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 683,179
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024.    
(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 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		189,473
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) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024.... 0
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).)
Laurel A Graham
Robert H Graham
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
GRANT APPS TO MARGARET BORHO
55 WALLS DRIVE Suite 302
FAIRFIELD,CT06824
(800) 839-1754
bThe form in which applications should be submitted and information and materials they should include:
FSREQUESTS.COM/TAPEATS
cAny submission deadlines:
FSREQUESTS.COM/TAPEATS
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
FSREQUESTS.COM/TAPEATS
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

ALLIANCE FOR CHOICE IN EDUCATION

5251 DTC PKWY STE 300
GREENWOOD VILLAGE,CO80111 		N/A PC ACE Houston K-12 fund 10,000

BAYOU PRESERVATION ASSOCIATION INC

2339 COMMERCE ST 163
HOUSTON,TX77002 		N/A PC Bayou Preservation Association fund 2,500

BOS PLACE

10050 BUFFALO SPEEDWAY
HOUSTON,TX77054 		N/A PC General & Unrestricted 10,000

BREAKTHROUGH HOUSTON

2401 CLAREMONT LN
HOUSTON,TX77019 		N/A PC General & Unrestricted 15,000

BRIDGEYEAR

3414 EASTSIDE ST
HOUSTON,TX77098 		N/A PC General & Unrestricted 5,000

BUFFALO BAYOU PARTNERSHIP

1019 COMMERCE ST SUITE 200
HOUSTON,TX77002 		N/A PC General & Unrestricted 5,000

CAMP ARANZAZU INC

5420 FM 1781
ROCKPORT,TX78382 		N/A PC Underwriting for Campers with Special Needs and Chronic Illnesses 5,000

CAMP FOR ALL FOUNDATION

3701 KIRBY DR STE 570
HOUSTON,TX77098 		N/A PC Equestrian Program 5,000

CASA DE ESPERANZA DE LOS NINOS INCORPORATED

PO BOX 301209
HOUSTON,TX77230 		N/A PC Foster Care Program 5,000

CHILDRENS MUSEUM INC

1500 BINZ ST
HOUSTON,TX77004 		N/A PC Open Doors Program 5,000

CHINQUAPIN PREPARATORY SCHOOL

2615 E WALLISVILLE RD
HIGHLANDS,TX77562 		N/A PC General & Unrestricted 15,000

COALITION FOR THE HOMELESS OF HOUSTONHARRIS COUNT

2000 CRAWFORD ST STE 700
HOUSTON,TX77002 		N/A PC General & Unrestricted 10,000

COLLABORATIVE FOR CHILDREN

2200 POST OAK BLVD STE 1000
HOUSTON,TX77056 		N/A PC General & Unrestricted 5,000

COVENANT HOUSE TEXAS

1111 LOVETT BLVD
HOUSTON,TX77006 		N/A PC Safe Haven Emergency Shelter fund 5,000

CRISTO REY JESUIT HIGH SCHOOL OF HOUSTON INC

6700 MOUNT CARMEL ST
HOUSTON,TX77087 		N/A PC General & Unrestricted 5,000

DEFY VENTURES INC

PO BOX 102117
PASADENA,CA91189 		N/A PC General & Unrestricted 5,000

DRESS FOR SUCCESS HOUSTON

3310 EASTSIDE ST
HOUSTON,TX77098 		N/A PC Thumbs Up Program 5,000

EMERGE FELLOWSHIP

11251 NW FWY STE 330
HOUSTON,TX77092 		N/A PC EMERGE's Strategic Growth Plan 5,000

FOREVER YOUNG FOUNDATION

1424 S STAPLEY DR
MESA,AZ85204 		N/A PC General & Unrestricted 2,500

FOUNDATION FOR TEEN HEALTH

2726 BISSONNET ST STE 240 PMB 168
HOUSTON,TX77005 		N/A PC General & Unrestricted 5,000

FUELED SCHOOLS INC

4201 MAIN ST STE 200 165
HOUSTON,TX77002 		N/A PC FuelEd: Creating Happier, Healthier, More Whole Schools 5,000

GALVESTON BAY FOUNDATION

1725 HWY 146
KEMAH,TX77565 		N/A PC General & Unrestricted 2,500

GLADNEY CENTER FOR ADOPTION

6300 JOHN RYAN DR
FORT WORTH,TX76132 		N/A PC General & Unrestricted 5,000

GOOD REASON HOUSTON INC

8 GREENWAY PLZ STE 900
HOUSTON,TX77046 		N/A PC General & Unrestricted 10,000

HEIFER PROJECT INTERNATIONAL

PO BOX 8058
LITTLE ROCK,AR72203 		N/A PC General & Unrestricted 4,500

HERMANN PARK CONSERVANCY

1700 HERMANN DR
HOUSTON,TX77004 		N/A PC General & Unrestricted 2,500

HOUSTON FOOD BANK

535 PORTWALL ST
HOUSTON,TX77029 		N/A PC General Operating Support 10,000

HOUSTON HABITAT FOR HUMANITY INC

3750 N MCCARTY ST
HOUSTON,TX77029 		N/A PC General & Unrestricted 5,000

HOUSTON INDEPENDENT SCHOOL DISTRICT FOUNDATION

PO BOX 27904
HOUSTON,TX77227 		N/A PC General & Unrestricted 5,000

HOUSTON MUSEUM OF NATURAL SCIENCE

5555 HERMANN PARK DR
HOUSTON,TX77030 		N/A PC General & Unrestricted 5,000

HOUSTON PARKS BOARD

300 N POST OAK LN
HOUSTON,TX77024 		N/A PC General & Unrestricted 5,000

HOUSTON SOCIETY FOR THE PREVENTION OF CRUELTY TO A

7007 OLD KATY RD
HOUSTON,TX77024 		N/A PC General & Unrestricted 40,000

HOUSTON WILDERNESS INC

1334 BRITTMOORE RD STE 2804
HOUSTON,TX77043 		N/A PC General & Unrestricted 5,000

HOUSTON ZOO INC

1513 CAMBRIDGE ST
HOUSTON,TX77030 		N/A PC to support Veterinary Services for Wildlife in Rwanda 50,000

KIPP TEXAS INC

10711 KIPP WAY DR
HOUSTON,TX77099 		N/A PC KIPP Texas - Houston KIPP Forward Programming 10,000

LONE STAR FLIGHT MUSEUM

11551 AEROSPACE AVE
HOUSTON,TX77034 		N/A PC STEM Education Program for K-12 Students 5,000

MARBRIDGE FOUNDATION INC

PO BOX 2250
MANCHACA,TX78652 		N/A PC Benevolent Care fund 10,000

MEDICAL BRIDGES INC

2706 MAGNET ST
HOUSTON,TX77054 		N/A PC General & Unrestricted 5,000

MEMORIAL PARK CONSERVANCY INC

7575 N PICNIC
HOUSTON,TX77007 		N/A PC General & Unrestricted 2,500

MENDED NETWORK

3320 FM 731
BURLESON,TX76028 		N/A PC General & Unrestricted 3,500

MGVP INC

PO BOX 356
DAVIS,CA95617 		N/A PC to support Gorilla Doctors 25,000

MISSION CENTERS OF HOUSTON

PO BOX 30417
HOUSTON,TX77249 		N/A PC General & Unrestricted 2,500

MOBILE LOAVES & FISHES INC

9301 HOG EYE RD UNIT 950
AUSTIN,TX78724 		N/A PC Community First! Village 6,000

MOMENTUM EDUCATION

5110 PINE ST
BELLAIRE,TX77401 		N/A PC High School Mentorship Program 10,000

MONTANA LAND RELIANCE

PO BOX 355
HELENA,MT59624 		N/A PC Project and Stewardship in the Madison Valley 5,000

MOTORCYCLE MISSIONS

2001 PARKER LN
AUSTIN,TX78741 		N/A PC General & Unrestricted 8,000

NORAS GIFT FOUNDATION INC

8300 EL RIO ST
HOUSTON,TX77054 		N/A PC General & Unrestricted 5,000

OPEN DOOR MISSION

PO BOX 9356
HOUSTON,TX77261 		N/A PC General & Unrestricted 2,500

PARKS AND WILDLIFE FOUNDATION OF TEXAS INC

6220 GASTON AVE STE 700
DALLAS,TX75214 		N/A PC General & Unrestricted 5,000

PATHWAYS FOR LITTLE FEET

1885 SAINT JAMES PL
HOUSTON,TX77056 		N/A PC Post Adoption Support 5,000

PATRIOT PAWS SERVICE DOGS

254 RANCH TRL
ROCKWALL,TX75032 		N/A PC General & Unrestricted 5,000

POSITIVE COACHING ALLIANCE

66 FRANKLIN ST STE 300
OAKLAND,CA94607 		N/A PC PCA - Texas Region 10,000

PRISON ENTREPRENEURSHIP PROGRAM

PO BOX 2767
HOUSTON,TX77252 		N/A PC Workforce Development and Entrepreneurship Programs for Returning Citizens in Houston 20,000

PRO-VISION INC

2656 S LOOP W
HOUSTON,TX77054 		N/A PC General & Unrestricted 5,000

PTSD FOUNDATION OF AMERICA

9724 DERRINGTON RD
HOUSTON,TX77064 		N/A PC to support Camp Hope 5,000

RANCH HANDS RESCUE

PO BOX 568
JUSTIN,TX76247 		N/A PC General Operations/Care and feeding of the therapy animals in the EAAC Counseling Program 30,000

RANCH HANDS RESCUE

PO BOX 568
JUSTIN,TX76247 		N/A PC Bob's House of Hope 8,000

SCENIC TEXAS INC

PO BOX 1598
DRIPPING SPRINGS,TX78620 		N/A PC Placemaking Assessment & Education Programs 2,500

SLEEP IN HEAVENLY PEACE INC

PO BOX 3373
NAMPA,ID83653 		N/A PC Fort Worth, TX chapter 9,000

SMALL STEPS NURTURING CENTER

2902 JENSEN DR
HOUSTON,TX77026 		N/A PC Scholarship Society fund 5,000

SPARK

PO BOX 1562
HOUSTON,TX77251 		N/A PC Park Construction fund 2,500

SPRINGSPIRIT INC

8526 PITNER RD
HOUSTON,TX77080 		N/A PC General & Unrestricted 5,000

STUDENT CONSERVATION ASSOCIATION INC

689 RIVER RD
CHARLESTOWN,NH03603 		N/A PC SCA Houston Community Programs 5,000

TEACH FOR AMERICA

2 GREENWAY PLZ 500
HOUSTON,TX77046 		N/A PC Teach For America Houston 20,000

TEAM RUBICON

5230 PACIFIC CONCOURSE DR STE 200
LOS ANGELES,CA90045 		N/A PC General & Unrestricted 10,000

TEXAS CHILDRENS HOSPITAL

1919 S BRAESWOOD BLVD STE 5214
HOUSTON,TX77030 		N/A PC Texas Children's Cancer Center 5,000

THE BROOKWOOD COMMUNITY INC

1752 FM 1489
BROOKSHIRE,TX77423 		N/A PC General & Unrestricted 5,000

THE COUNCIL ON RECOVERY

PO BOX 2768
HOUSTON,TX77252 		N/A PC General & Unrestricted 5,000

THE POSSE FOUNDATION INC

14 WALL ST STE 8A60
NEW YORK,NY10005 		N/A PC Posse Foundation - Houston 5,000

THE UNIVERSITY OF TEXAS AT AUSTIN

1 UNIVERSITY STA MAIL STOP A3000
AUSTIN,TX78712 		N/A GOV College of Fine Arts 10,000

TREES FOR HOUSTON

1911 W 34TH ST
HOUSTON,TX77018 		N/A PC General & Unrestricted 2,500

UNIVERSITY OF CENTRAL FLORIDA FOUNDATION INC

12424 RESEARCH PKWY STE 250
ORLANDO,FL32826 		N/A PC Limbitless Solutions, Inc. 6,500

URBAN HARVEST INC

1911 W 34TH ST
HOUSTON,TX77018 		N/A PC Toward Cultivating Thriving Communities 2,500

W OSCAR NEUHAUS MEMORIAL FOUNDATION

4433 BISSONNET ST
BELLAIRE,TX77401 		N/A PC Teacher Professional Development Program 5,000

WARRIORS & QUIET WATERS FOUNDATION

351 EVERGREEN DR STE A
BOZEMAN,MT59715 		N/A PC Program Transformation 5,000

WILDLIFE CONSERVATION NETWORK INC

209 MISSISSIPPI ST
SAN FRANCISCO,CA94107 		N/A PC Painted Dog Conservation, Cheetah Conservation Botswana, Somali Giraffe Conservation, Ethiopian Wolf Conservation Program, Niassa Lion Project, Siberian Tiger (Tigris), Pangolin Crisis Fund 130,000

WOODS PROJECT INC

2700 SW FWY STE B
HOUSTON,TX77098 		N/A PC General & Unrestricted 7,500

YELLOWSTONE ACADEMY INC

3000 TRULLEY ST
HOUSTON,TX77004 		N/A PC Yellowstone Schools' 2023-24 Educational fund 5,000

YELLOWSTONE FOREVER

PO BOX 1857
BOZEMAN,MT59771 		N/A PC Bird Program 30,000

YES PREP PUBLIC SCHOOLS INC

5455 S LOOP EAST FWY
HOUSTON,TX77033 		N/A PC YES Prep is Leading Houston Forward 10,000
Total .................................right arrow 3a 770,500
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 42,005  
4 Dividends and interest from securities ....     14 611,223  
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 ............ 		    18 601,687  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 Inc/Loss 		525990 9,408 14 60,179  
bFederal Tax Refund     01 533  
cSEC 751 GAIN FROM PTSHP 525990 232,843      
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 242,251 1,315,627  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,557,878
(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

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 DepreciationSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

TY 2024 InvestmentsCorpBondsSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBOTT LABS BOND - 3.750% - 11 74,406 74,102
CINTAS CORP - 3.700% - 04/01/2 106,315 98,010
COMCAST CORP - 5.500% - 11/15/ 77,052 76,801
DISNEY WALT CO NOTE - 3.800% - 97,989 95,783
ELECTRONIC ARTS INC NOTE - 4.8 105,453 90,017
GOLDMAN SACHS GROUP INC NOTE - 121,905 124,543
INTEL CORP - 2.450% - 11/15/20 35,075 35,105
JPMORGAN CHASE & CO NOTE - 6.2 38,555 38,054
JPMORGAN CHASE &CO - 3.782% - 95,094 97,887
JPMORGAN CHASE FINANCIAL CO LL 570,000 599,868
STRYKER CORP - 3.375% - 11/01/ 82,068 79,200
UNITED PARCEL SERVICE - 3.400% 134,061 113,930
UNITEDHEALTH GROUP INC NOTE - 105,719 101,590

TY 2024 InvestmentsCorpStockSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABS 50,683 58,930
ADOBE SYSTEMS, INC 75,517 72,928
AIA GROUP LTD ADR 20,276 13,776
AIRBUS GROUP 12,946 15,496
ALCON INC 13,710 18,082
ALIBABA GROUP HOLDING LTD 29,991 18,230
ALPHABET INC CL A 98,350 174,535
ALPHABET INC CL C 59,282 162,255
AMADEUS IT HLDS SA 14,586 16,365
AMAZON COM 185,468 321,626
AMERICAN TOWER REIT INC 54,098 40,900
ANALOG DEVICES INC 23,038 40,367
APPLE INC 116,822 269,202
ASML HOLDING NV NY REG SHS 13,766 16,634
ASSA ABLOY UNSP/ADR 13,356 16,657
ASTRAZENECA 95,712 96,445
AUTOMATIC DATA PROCESSING INC 17,868 34,542
BAE SYSTEMS PLC 12,879 19,377
BANCO SANTANDER CEN 20,704 26,526
BHP BILLITON LIMITED 23,179 17,628
BLACKROCK INC 25,936 48,180
BROOKFIELD CORP ORD SHS CL A 10,851 20,510
CANADIAN NATL RAILWAY CO 11,932 11,166
CHECK POINT SOFTWARE TECHNOLOG 15,663 21,657
CHENIERE ENERGY INC 12,179 18,049
CHEVRON CORP 23,533 36,210
CHUBB LIMITED 12,516 18,512
CISCO SYSTEMS INC 57,213 77,611
CME GROUP, INC 42,298 47,607
COMPASS GROUP PLC ADR 13,147 20,389
CONOCOPHILLIPS 41,665 41,354
DAIKIN INDS LTD ADR 14,229 9,069
DANAHER CORP 42,289 54,862
DBS GROUP HLDGS SPON ADR 16,846 28,681
DIAGEO PLC ADS 23,035 19,197
ELEVANCE HEALTH INC 32,076 28,405
EQUINOR ASA 10,131 10,116
EXXON MOBIL CORP 37,112 75,407
FANUC LIMITED UNSPONSORED 25,191 18,282
FERRARI NV 8,413 16,144
FIDELITY NATIONAL INFORMATION 70,817 50,885
FISERV, INC 41,879 80,525
FOMENTO ECONOMICO MEXICANO 11,566 12,482
HDFC BANK LTD ADR 32,256 28,418
HEIDELBERGCEMENT AG UNSPONSORE 11,638 23,119
HENKEL KGAA ADR 11,701 11,036
HOME DEPOT INC 44,740 63,405
HONEYWELL INTL 36,585 46,307
ICON PLC - AMERICAN DEPOSITARY 15,755 15,938
INTERCONTINENTAL EXCHANGE, INC 45,954 69,439
INTERCONTINENTAL HOTELS GROUP 10,697 19,737
IQVIA HOLDINGS INC 62,408 55,023
JOHN HANCOCK FDS III DISCIPLIN 1,711,956 2,125,090
JP MORGAN CHASE 33,621 77,426
JPMORGAN EQUITY PREMIUM INCO 1,493,437 1,523,681
JULIUS BAER GROUP LTD 9,697 9,941
KAWASAKI HEAVY IND SPON ADR RE 15,188 27,376
KERRY GROUP PLC 13,084 14,092
L'AIR LIQUIDE ADR OTC 13,111 15,770
LINDE PLC COM 34,208 58,195
LLOYDS BANKING GROUP PLC 14,465 18,398
LONDON STK EXCHANGE GROUP 21,116 30,479
LVMH MOET HENN UNSP 13,196 13,330
MARTIN MARIETTA MATLS INC 30,648 45,452
MCDONALD'S CORP 57,302 58,848
MERCADOLIBRE, INC 10,796 15,304
META PLATFORMS INC 36,968 46,255
MICROSOFT CORP 164,003 368,391
MONDELEZ INTERNATIONAL INC 31,949 33,509
MONSTER BEVERAGE CORP 46,735 47,724
NEXTERA ENERGY, INC 50,608 49,251
NOVARTIS AG ADR 14,829 18,294
NVIDIA CORP 113,733 285,635
O'REILLY AUTOMOTIVE INC 21,844 26,088
OTIS WORLDWIDE CORP 41,841 54,269
PEPSICO INC 46,062 49,572
PNC FINANCIAL GROUP INC 35,562 46,863
PROLOGIS 49,204 44,923
QUALCOMM INC 49,857 72,048
RAYTHEON TECHNOLOGIES CORP 38,645 64,919
ROPER INDUSTRIES 42,538 51,985
S&P GLOBAL INC COM 35,990 47,811
SALESFORCE.COM 81,822 120,693
SEAFARER OVERSEAS GROWTH & INC 860,000 826,572
SHELL ADR EACH REPRESENTING 2 19,339 26,564
SIEMENS AG 16,021 21,076
SONY GROUP CORP 14,339 17,669
STRYKER CORPORATION 24,212 40,326
SUZUKI MOTOR CORP UNSP ADR 14,392 14,049
SYMRISE AG UNSPONSORED 16,188 14,314
T-MOBILE US INC 19,106 35,317
TAIWAN SEMICONDUCTOR MFG CO LT 16,881 29,031
TE CONNECTIVITY LTD 64,248 67,768
TENCENT HOLDINGS LIMITED 31,025 23,665
THE BLACKSTONE GROUP INC CL A 30,964 84,486
THERMO FISHER SCIENTIFIC INC 35,861 53,584
TJX COMPANIES INC 26,725 54,123
TOKIO MARINE HOLDINGS INC 8,755 17,254
TOYOTA MTR CORP 9,086 12,844
TRIP COM GROUP ADR 13,829 20,049
TWEEDY BROWNE GLOBAL VALUE FUN 629,547 588,622
UNION PACIFIC 54,632 63,395
UNITEDHEALTH GROUP INC 80,158 126,971
US BANCORP 40,806 46,395
VERSUS CAPITAL REAL ASSETS FUN 131,394 141,203
VICI PROPERTIES INC 27,409 26,260
VISA INC 99,466 159,284
WALT DISNEY HOLDINGS CO 77,704 68,369
WEC ENERGY GROUP, INC 17,842 18,714
WORKDAY INC 47,423 49,800
ZOETIS INC 28,010 25,417

TY 2024 InvestmentsGovtObligationsSch
Name:
The Tapeats Fund
EIN:
76-0412011
US Government Securities - End of Year Book Value:

1,617,818
US Government Securities - End of Year Fair Market Value:

1,544,805
State & Local Government Securities - End of Year Book Value:


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


 


TY 2024 InvestmentsOtherSchedule2
Name:
The Tapeats Fund
EIN:
76-0412011
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ATLAS POINT GLOBAL MULTI STRAT   1,250,000 1,214,286
COUGAR INVESTMENT FUND LLC.   539,893 629,982
MONROE CAPITAL INCOME PLUS COR   735,000 762,191

TY 2024 OtherExpensesSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 75,241     75,241
Bank Charges 14 14    
Foundation Dues & Memberships 830     830
Indemnification Insurance 2,253     2,253
K-1 Exp AP ENERGY INFRASTRUCTU 47,976 47,579    
K-1 Exp COUGAR INVESTMENT FUND 2,129 2,129    


TY 2024 OtherIncomeSchedule2
Name:
The Tapeats Fund
EIN:
76-0412011
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
K-1 Inc/Loss AP ENERGY INFRASTRUCTURE FND LLC 61,347 51,934  
K-1 Inc/Loss COUGAR INVESTMENT FUND LLC. 8,240 8,240  
Federal Tax Refund 533    
SEC 751 GAIN AP ENERGY INFRASTRUCTURE 232,843    


TY 2024 OtherProfessionalFeesSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 84,274 84,274    
PROFESSIONAL MGMT SERVICES 15,861     15,861


TY 2024 ReasonableCauseExplanation
Name:
The Tapeats Fund
EIN:
76-0412011
Explanation:
We respectfully request that The Tapeats Fund's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $93 penalty indicated on Form 2220 be abated because the underpayment in Q4 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm was unable to reconcile the Foundation's accounts fully in order to calculate the necessary estimated tax payment for Q4 based on the annualization method. The underpayment was no fault of the foundation's and the firm is enhancing its procedures to improve its reconciliation process for future quarters. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules, and respectfully request that no 2220 penalty be assessed.

TY 2024 TaxesSchedule
Name:
The Tapeats Fund
EIN:
76-0412011
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2024 4,600      
990-T Extension for 2023 10,400      
990-T Income Tax for 2022 5,072      
Foreign Tax Paid 2 2    
IRS MISCELLANEOUS FEE 578