TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2024

Open to Public Inspection

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

Name of foundation
THE STEWART J RAHR FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)725 5TH AVENUE 24TH FL
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
NEW YORK, NY10022

A Employer identification number

27-4275648

B Telephone number (see instructions)

(646) 300-7116

C If exemption application is pending, check here right arrow

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

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

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

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

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

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

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

$143,389,867J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	141,181		141,181
4	Dividends and interest from securities...	3,224,369		3,224,369
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,680,645
b	Gross sales price for all assets on line 6a 18,471,370
7	Capital gain net income (from Part IV, line 2)...			1,725,548
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).......	List of Attached Documents: // Content	149,544	149,544
12	Total. Add lines 1 through 11........	5,195,739		5,240,642
13	Compensation of officers, directors, trustees, etc.	0		0	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)....	List of Attached Documents: // Content	486,192	486,192	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	22,366	22,366	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	371	371	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	508,929		508,929	0
25	Contributions, gifts, grants paid.......	4,936,667			4,936,667
26	Total expenses and disbursements. Add lines 24 and 25	5,445,596		508,929	4,936,667
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-249,857
b	Net investment income (if negative, enter -0-)			4,731,713
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	1,305,837	2,807,980	2,807,980
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	3,506,943	List of Attached Documents: // Content 4,876,445	4,721,651
	b	Investments—corporate stock (attach schedule).......	9,112,671	List of Attached Documents: // Content 9,286,302	28,610,878
	c	Investments—corporate bonds (attach schedule).......	6,185,940	List of Attached Documents: // Content 5,091,756	4,810,128
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	76,514,930	List of Attached Documents: // Content 74,456,924	102,439,230
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	96,626,321	96,519,407	143,389,867
	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 )	List of Attached Documents: // Content 1,052,123	List of Attached Documents: // Content 1,267,004
	23	Total liabilities (add lines 17 through 22).........	1,052,123	1,267,004
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	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	95,574,198	95,252,403
	29	Total net assets or fund balances (see instructions).....	95,574,198	95,252,403
	30	Total liabilities and net assets/fund balances (see instructions).	96,626,321	96,519,407

Part III

Analysis of Changes in Net Assets or Fund Balances

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

95,574,198

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

-249,857

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

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

95,324,341

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

71,938

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

95,252,403

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	PUBLICLY TRADED SECURITIES
c	CAPITAL GAIN DISTRIBUTION
d	SLR PRIVATE CREDIT II (BDC) ACCESS LP (STLG)
e	SLR HEALTHCARE (BDC) ACCESS LP (LTCG)
	SLR PRIVATE CREDIT II (BDC) ACCESS LP (LTCG)

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	9,975,714	9,118,820	856,894
b	7,916,449	7,627,002	289,447
c	573,159		573,159
d	512		512
e	5,105		5,105
	431		431

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			856,894
b			289,447
c			573,159
d			512
e			5,105
			431

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,725,548
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	65,771
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	65,771
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	65,771
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	52,210
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	62,000
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	114,210
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	48,439
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax48,439	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

DE, NY

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

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

Yes

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

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

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

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

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

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

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

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

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

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

Yes

Website address right arrow

N/A

The books are in care of right arrow

HOWARD HIRSCH Telephone no. right arrow

(646) 300-7116

Located at right arrow

725 5TH AVENUE 24TH FLNEW YORKNY ZIP+4 right arrow

10022

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

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

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

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

16 No

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

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
STEWART J RAHR	PRESIDENT 3.00	0	0	0
725 5TH AVENUE 24TH FL NEW YORK,NY10022	PRESIDENT 3.00	0	0	0
STEVEN BURNS	VICE PRESIDENT, TREASURER 3.00	0	0	0
725 5TH AVENUE 24TH FL NEW YORK,NY10022	VICE PRESIDENT, TREASURER 3.00	0	0	0

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


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









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

Form 990-PF (2024)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
BLACKHILL CAPITAL INC	INVESTMENT MANAGEMENT FEES	254,311
161 MADISON AVENUE MORRISTOWN,NJ07960	INVESTMENT MANAGEMENT FEES	254,311
GOLDMAN SACHS & CO LLC	INVESTMENT MANAGEMENT FEES	178,722
200 WEST STREET NEW YORK,NY10282	INVESTMENT MANAGEMENT FEES	178,722

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	N/A	0
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	N/A	0
2


All other program-related investments. See instructions.
3

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

Form 990-PF (2024)

Page 8

Part IX

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

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

purposes:

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

102,975,296

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

2,474,288

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

30,653,224

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

136,102,808

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

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

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

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

136,102,808

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

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

2,041,542

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

134,061,266

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

6,703,063

Part X

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

and do not complete this part.)

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

6,703,063

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

65,771

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

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

65,771

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

6,637,292

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

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

6,637,292

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

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

6,637,292

Part XI

Qualifying Distributions (see instructions)

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

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

4,936,667

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

4,936,667

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					6,637,292
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......	1,865,321
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........		1,865,321
4Qualifying distributions for 2024 from Part
XI, line 4: $ 4,936,667
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.....					4,936,667
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2024.		1,700,625			1,700,625
(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		164,696
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) ...		164,696
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....

Form 990-PF (2024)

Page 10

Part XIII

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

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

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

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

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

Part XIV

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

1Information Regarding Foundation Managers:

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

STEWART J RAHR

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)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AMERICAN FRIENDS OF BNAI LEVY FOUNDATION C/O M KANNER CPA 5417 18TH AVENUE BROOKLYN,NY11204	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	25,000
AMERICAN FRIENDS OF TARAH & TEFILAH RAMAT ESHKO 2183 78TH STREET BROOKLYN,NY11214	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	50,000
AMERICAN HEART ASSOCIATION INC 7272 GREENVILLE AVENUE DALLAS,TX75231	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	150,000
AMERICAN RED CROSS 431 18TH STREET NW WASHINGTON,DC20006	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	50,000
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK TRUSTEES OF 622 WEST 113TH STREET NEW YORK,NY10025	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	400,000
DANIEL'S MUSIC FOUNDATION 1595 LEXINGTON AVENUE 2ND FL NEW YORK,NY10029	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	50,000
FRIENDS OF UNITED HATZALAH INC 442 FIFTH AVENUE SUITE 1866 NEW YORK,NY10018	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	950,000
GEORGE JACKSON ACADEMY 104 ST MARKS PLACE NEW YORK,NY10009	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	80,000
GRACE SOBER LIVING FOUNDATION 2525 E AZ BILTMORE CIRCLE SUITE A113 PHOENIX,AZ85016	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	25,000
LOS ANGELES BALLET INC 11755 EXPOSITION BOULEVARD LOS ANGELES,CA90064	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	25,000
MAKE A WISH METRO NEW YORK 500 FIFTH AVENUE SUITE 2900 NEW YORK,NY10110	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	1,000,000
MAKE A WISH SOUTHERN FLORIDA 343 NW 6TH STREET MIAMI,FL33136	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	50,000
MELANOMA RESEARCH ALLIANCE 730 15TH STREET NW 4TH FL WASHINGTON,DC20005	NONE	SO I	FOR DONEE'S EXEMPT PURPOSE	500,000
NATIONAL COMMITTEE FOR FURTHERANCE OF JEWISH EDUCATION 824 EASTERN PARKWAY BROOKLYN,NY11213	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	50,000
NEPHCURE KIDNEY INTERNATIONAL 150 SOUTH WARNER ROAD SUITE 402 KING OF PRUSSIA,PA19406	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	250,000
NEW YORK JUNIOR TENNIS LEAGUE INC 3636 33RD STREET SUITE 504 LONG ISLAND CITY,NY11106	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	25,000
NYU LANGONE HEALTH 550 1ST AVENUE NEW YORK,NY10016	NONE	SO II	FOR DONEE'S EXEMPT PURPOSE	666,667
PROSTATE CANCER FOUNDATION 1250 4TH STREET SANTA MONICA,CA90401	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	420,000
ST JUDE CHILDRENS RESEARCH HOSPITAL INC 262 DANNY THOMAS PLACE MEMPHIS,TN38105	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	100,000
TEMPLE ISRAEL OF THE CITY OF NEW YORK 112 EAST 75TH STREET NEW YORK,NY10021	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	35,000
THE CURETIVITY FOUNDATION 23 OLD KINGS HIGHWAY SOUTH 2ND FL DARIEN,CT06820	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	10,000
THE KABBALAH CENTER 155 E 48TH STREET NEW YORK,NY10017	NONE	PC	FOR DONEE'S EXEMPT PURPOSE	25,000
Total ................................. 3a				4,936,667

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	141,181
4 Dividends and interest from securities ....			14	3,224,369
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	1,680,645
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aCLASS ACTION SETTLEMENT			01	3,674
bPARTNERSHIP INCOME/LOSS			14	145,870
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		5,195,739	0

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

5,195,739

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2024)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Name of Bond	End of Year Book Value	End of Year Fair Market Value
APPLE INC. 1.25% 08/20/2030 USD SR LIEN	69,830	58,483
AEP TEXAS INC. 5.45% 05/15/2029 USD SR LIEN	54,586	54,737
WESTPAC BANKING CORP HYBRID 07/24/2034 USD SUB LIEN	68,722	72,521
EMERSON ELECTRIC CO 1.95% 10/15/2030 USD SR LIEN	60,354	57,545
BP CAP MARKETS AMERICA 3.41% 02/11/2026 USD SR LIEN	68,804	68,155
TRUIST FINANCIAL CORPORATION HYBRID MTN 06/07/2029	56,541	57,736
MIZUHO FINANCIAL GROUP, INC. HYBRID 07/10/2031 USD SR	200,000	170,880
SPECTRA ENERGY PARTNERS 3.375% 10/15/2026 USD SR LIEN	66,780	63,457
B.A.T. CAPITAL CORPORATION 2.726% 03/25/2031 USD SR	65,000	56,122
BOEING COMPANY (THE) 2.196% 02/04/2026 USD SR LIEN	73,104	70,792
METLIFE, INC. 4.55% 03/23/2030 USD SR LIEN	49,680	44,378
ENERGY TRANSFER PARTNERS, L.P. 4.9% 03/15/2035 USD SR	60,436	62,165
CONNECTICUT LIGHT AND POWER CO 3.2% 03/15/2027 USD	62,190	58,207
KINDER MORGAN INC 4.3% 03/01/2028 USD SR LIEN	58,378	53,971
PHILIP MORRIS INTERNATIONAL IN 2.75% 02/25/2026 USD SR	59,444	58,709
GENERAL MOTORS COMPANY 5.0% 04/01/2035 USD SR LIEN	60,025	61,964
SKYWORKS SOLUTIONS, INC. 3.0% 06/01/2031 USD SR LIEN S&P AA+	56,778	49,672
UNITED PARCEL SERVICE, INC. 3.4% 03/15/2029 USD SR LIEN	63,591	56,965
RALPH LAUREN CORP 2.95% 06/15/2030 USD SR LIEN	60,930	54,421
JPMORGAN CHASE & CO. HYBRID 04/23/2029 USD SR LIEN	61,172	53,335
SYNCHRONY FINANCIAL 4.5% 07/23/2025 USD SR LIEN	55,868	54,781
CROWN CASTLE INTERNATIONAL COR 4.0% 03/01/2027 USD	63,151	58,950
PNC FINANCIAL SERVICES GROUP, HYBRID 04/23/2032 USD SR	63,889	56,361
U.S. BANCORP HYBRID 10/21/2033 USD SR LIEN	57,330	56,234
DOMINION ENERGY INC 3.3% 03/15/2025 SER A SR LIEN	54,913	54,795
CAPITAL ONE FINANCIAL CO HYBRID 02/01/2034 USD SR LIEN	66,032	68,337
HOME DEPOT INC 2.5% 04/15/2027 USD SR LIEN	4,888	4,784
JPMORGAN CHASE & CO. HYBRID 02/01/2028 USD SR LIEN	128,501	122,359
INTUIT INC 1.35% 07/15/2027 USD SR LIEN	36,830	35,980
AMERIPRISE FINANCIAL, INC. 5.15% 05/15/2033 USD SR LIEN	114,654	113,709
JOHNSON & JOHNSON 4.375% 12/05/2033 USD SR LIEN	183,014	169,626
EXELON CORPORATION 4.05% 04/15/2030 USD SR LIEN	87,097	76,255
EBAY INC 2.7% 03/11/2030 USD SR LIEN	92,355	93,319
CAMDEN PROPERTY TRUST 3.15% 07/01/2029 USD SR LIEN	123,818	111,497
PRUDENTIAL FINANCIAL, INC. MTN 5.7% 12/14/2036 SER	112,616	111,932
AIR LEASE CORPORATION 3.25% 03/01/2025 SR LIEN	80,244	79,771
UNITEDHEALTH GROUP INCORPORATE 3.85% 06/15/2028 USD	86,446	82,607
VERIZON COMMUNICATIONS, INC. 4.329% 09/21/2028 USD	9,715	9,812
THE CIGNA GROUP 5.25% 02/15/2034 USD SR LIEN	60,339	59,841
CANADIAN IMPERIAL BANK OF COMM 5.26% 04/08/2029 USD	59,417	59,468
TYCO ELECTRONICS GROUP S.A. 2.5% 02/04/2032 USD SR	118,826	110,452
EXXON MOBIL CORPORATION 3.482% 03/19/2030 USD SR	91,591	80,091
EMERSON ELECTRIC CO. 2.2% 12/21/2031 USD SR LIEN	92,070	79,013
BANK OF AMERICA CORPORATION HYBRID MTN 04/27/2028	74,726	74,197
AON NORTH AMERICA, INC. 5.45% 03/01/2034 USD SR LIEN	89,906	89,891
DOW CHEMICAL CO/THE 4.25% 10/01/2034 USD SR LIEN	87,234	85,471
NORTHERN TRUST CORPORATION HYBRID 05/08/2032 USD	125,676	119,949
CITIGROUP INC. HYBRID 03/20/2030 USD SR LIEN	125,000	119,374
WELLS FARGO & COMPANY HYBRID MTN 06/02/2028 USD	116,594	105,485
THE BANK OF NOVA SCOTIA HYBRID 09/08/2028 SR LIEN	121,662	120,753
VERIZON COMMUNICATIONS, INC. 1.75% 01/20/2031 USD SR	83,185	84,071
PAYPAL HOLDINGS, INC. 2.65% 10/01/2026 USD SR LIEN	139,582	137,530
AT&T INC 4.25% 03/01/2027 USD SR LIEN	42,354	39,635
3M COMPANY MTN 3.625% 09/14/2028 USD SR LIEN	46,771	45,439
NEVADA POWER CO 3.7% 05/01/2029 USD SER CC SR LIEN	47,774	42,932
ROYALTY PHARMA PLC 2.2% 09/02/2030 USD SER WI SR LIEN	49,668	49,281
THE J. M. SMUCKER COMPANY 4.25% 03/15/2035 USD SER	50,287	51,663
BANK OF AMERICA CORPORATION HYBRID 07/22/2027 USD	44,810	47,670
TORONTO-DOMINION BANK (THE) HYBRID 09/15/2031 USD	70,497	62,164
FOX CORPORATION 4.709% 01/25/2029 USD SER WI SR LIEN	70,975	64,246
LABORATORY CORPORATION OF AMER 2.95% 12/01/2029 USD	99,741	90,748
PUBLIC STORAGE 3.385% 05/01/2029 USD SR LIEN	132,742	117,931
LOWE'S COMPANIES INC 1.7% 10/15/2030 USD SR LIEN	70,173	58,558
S&P GLOBAL INC. 2.5% 12/01/2029 USD SR LIEN	129,331	112,265
CAPITAL ONE FINANCIAL CORPORAT HYBRID 11/02/2027 USD	53,119	56,686

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Name of Stock	End of Year Book Value	End of Year Fair Market Value
SEA LTD-ADR	25,012	36,604
SCHNEIDER ELECTRIC SE	6,687	10,726
ATLASSIAN CORP-CL A	16,224	21,904
CORTEVA INC	12,611	14,240
ABBOTT LABS COM	306,618	1,357,320
COMPASS GROUP PLC-SPON ADR	16,402	19,952
ADYEN NV-UNSPON ADR	17,448	21,330
HEXAGON AB SER'B'NPV	14,505	13,447
WILLIAMS SONOMA INC COM	1,093,240	11,110,800
ABBVIE INC COM	936,660	1,066,200
NVIDIA CORP COM	529,328	1,074,320
MICROSOFT CORP COM	354,336	505,800
ASTRAZENECA PLC	35,530	39,068
QUANTA SERVICES INC	2,816	9,165
GRAB HOLDINGS LTD	8,982	11,559
HON HAI PRECISION SPON	8,789	11,519
ASML HOLDING NV EUR0.09 (POST	8,220	9,839
AECOM	9,452	15,061
AIRBNB INC CL A COM	40,947	35,481
BROADCOM INC	6,200	30,603
WABTEC CORP	6,619	12,323
TAIWAN SEMICONDUCTOR MFG	11,623	23,106
SAAB AB NPV B	5,333	7,741
TRIP COM GROUP LTD USD0.00125	6,696	12,861
CYBERARK SOFTWARE LTD	7,029	15,325
CAMECO CORP COM	6,858	14,492
MARINE HARVEST NORWAY	14,823	13,495
NVIDIA CORP	7,094	61,639
CLEAN HARBORS INC	5,317	13,808
BOSTON SCIENTIFIC CORP	7,521	15,542
APPLIED MATERIALS INC	8,445	8,132
ROCKWELL AUTOMATION INC	8,950	9,717
BAE SYSTEMS PLC -SPON ADR	18,366	20,235
HITACHI NPV	9,443	17,085
DEERE & CO	11,442	12,711
CHART INDUSTRIES INC	9,616	10,305
HA SUSTAINABLE INFRASTRUCTURE	9,724	7,593
APOLLO GLOBAL MANAGEMENT INC	9,725	17,837
ZOETIS INC COM	284,323	1,629,300
NETFLIX INC	6,513	14,261
FOMENTO ECONOMICO MEXICANO	10,445	8,207
UBER TECHNOLOGIES INC	10,662	14,236
MCDONALD'S CORP	39,797	44,933
LONDON STOCK EXCHANGE LTD	10,735	15,547
INTERACTIVE BROKERS GROUP INC	8,604	16,607
ICICI BANK LTD-SPON ADR	15,784	21,260
VERTEX PHARMACEUTICALS INC	10,926	16,511
MONDAY.COM LTD	18,493	19,306
BAKER HUGHES CO	10,881	19,238
S&P GLOBAL INC	10,693	14,443
AON PLC-CLASS A	10,269	15,444
CIA SANEAMENTO BASICO DO	12,221	9,931
GRAPHIC PACKAGING HLDG CO	7,612	11,136
WASTE CONNECTIONS INC	12,117	14,756
LVMH MOET HENNESSY VUITTON SE	13,957	11,845
CANADIAN NAT RES LTD	13,023	14,256
LLOYDS BANKING GROUP ORD	20,986	21,273
COSTAR GROUP INC COM	16,355	16,323
AES CORP/VA	13,062	9,768
FREEPORT-MCMORAN INC	13,115	12,338
BERKSHIRE HATHAWAY INC DEL CL B NEW	1,344,680	1,813,120
EXPERIAN PLC-SPONS ADR	13,417	14,827
FLUTTER ENTERTAINMENT	13,831	17,574
SALESFORCE INC	16,448	19,391
VEOLIA ENVIRONNEME EUR5	11,108	9,825
VISA INC COM CL A	17,056	22,439
ASM INTERNATIONAL-NY REG SHS	11,024	17,074
NOVO NORDISK A/S SER'B'DKK0.1	13,319	15,602
SUZUKI MOTOR CORP	14,937	15,444
SINGAPORE TECH ENG NPV	11,458	13,298
TOKIO MARINE HOLDINGS, INC	15,062	30,688
MERCK & CO INC NEW	15,110	14,226
UNITEDHEALTH GROUP INC	14,006	17,705
ASTRAZENECA PLC	14,203	17,174
FERGUSON ENTERPRISES INC	14,071	16,663
MERCADOLIBRE INC	11,487	15,304
BK RAKYAT IDR250	15,210	12,004
AIA GROUP LTD ORD	13,931	13,792
BRISTOL MYERS SQUIBB CO	12,095	10,350
MONDELEZ INTERNATIONAL INC	14,685	14,395
ORACLE CORP	11,362	23,830
SCHNEIDER ELECT SE-UNSP ADR	13,801	21,792
PAYCOM SOFTWARE INC COM	18,746	20,497
CANADIAN NATURAL RESOURCES	16,971	15,805
DBS GROUP HLDGS	18,036	28,907
EBAY INC	11,186	16,788
CATERPILLAR INC	17,120	27,570
FERRARI NV	17,161	35,262
ABBOTT LABORATORIES	17,230	17,645
SONY GROUP CORPORATION	17,690	19,186
NU HOLDINGS LTD/CAYMAN ISL-A	16,605	15,385
LINDE PLC	17,724	22,190
KEYENCE CORP	17,922	16,449
DAIFUKU CO LTD NPV	9,902	9,260
PALO ALTO NETWORKS INC	3,330	10,190
ENGIE	18,186	18,961
DSM FIRMENICH AG EUR0.01	18,303	15,178
VERTIV HOLDINGS CO	7,434	12,043
MERCADOLIBRE INC	10,100	11,903
WORKDAY INC CL A	29,236	33,544
BLACKROCK FUNDING INC/DE	16,973	21,527
NOVO-NORDISK A/S-SPONS ADR	25,125	38,967
KEYSIGHT TECHNOLOGIES INC	13,037	13,332
TAKE TWO INTERACTIVE SOFTWARE	16,138	18,040
ABBOTT LABORATORIES	21,539	22,056
STERIS PLC	21,153	21,173
BK RAKYAT IDR250	21,396	17,156
SK TELECOM CO LTD	21,618	21,966
SUZUKI MOTOR CORP	22,357	23,599
DEUTSCHE TELEKOM AG NPV(REGD)	22,074	31,082
SPOTIFY TECHNOLOGY SA	22,173	34,001
SMURFIT WESTROCK P ORD	22,212	24,216
CANADIAN PACIFIC KANSAS CITY	26,500	24,968
ARCH CAPITAL GROUP LTD	20,611	26,782
UBS GROUP AG-REG	19,377	19,041
NOVO NORDISK A.S. ADR FORMERLY NOVO INDUSTRIE	18,042	16,774
SHOPIFY INC CL A	10,687	14,361
CME GROUP INC	23,785	26,939
3I GROUP PLC-UNSPON ADR	24,487	28,205
COCA-COLA CO	36,190	40,843
SIEMENS AG	35,884	41,589
ASML HOLDING NV-NY REG SHS	22,068	22,179
MICROSOFT CORP COM	61,122	86,829
LILLY ELI & CO COM	32,001	35,512
IBERDROLA SA EURO.75	20,013	19,928
MERCK & CO INC NEW COM	265,770	298,440
TAIWAN SEMICONDUCTOR MFG	23,024	37,721
APPLE INC	36,375	63,607
SIEMENS ENERGY AG-UNSP ADR	21,300	24,790
LILLY ELI & CO COM	270,142	348,944
SERVICENOW INC COM	23,776	57,246
ASTRAZENECA PLC-SPONS ADR	31,058	29,943
RIO TINTO	28,853	21,235
MITSUBISHI HEAVY INDUSTRIES	23,675	27,672
ALLIANZ SE	27,591	34,624
SAFRAN SA-UNSPON ADR	30,714	36,351
ICON PLC	30,559	28,311
MEITUAN - UNSP ADR	30,892	25,343
SANOFI EUR2	31,053	29,217
AMAZON COM INC	30,588	42,781
APPLE INC COM	276,386	5,008,400
MONDELEZ INTERNATIONAL INC	29,611	24,848
UNITEDHEALTH GROUP INC COM	16,036	19,729
ROLLS-ROYCE HOLDINGS-SP ADR	29,225	28,187
MSCI INC COM	35,342	40,201
ABBVIE INC	28,634	45,669
META PLATFORMS INC-CLASS A	28,765	29,275
ACCENTURE PLC IRELAND SHS CL A ISIN	32,145	39,049
TARGET CORP	30,330	26,630
SEMPRA ENERGY	26,350	33,158
DEUTSCHE POST AG NPV(REGD)	32,493	22,449
ABBOTT LABS COM	46,384	44,792
TAIWAN SEMICONDUCTOR-SP ADR	35,406	48,583
VOLKSWAGEN AG NON.V PRF NPV	31,152	12,078
SHELL PLC ORD EUR0.07	27,683	28,777
MICROSOFT CORP	32,570	52,687
TOTAL	27,344	25,145
SHOPIFY INC CL A	36,963	56,036
GARTNER INC COM	7,556	16,472
RECKITT BENCKISER GROUP PLC	36,418	27,359
MERCK & CO INC NEW	37,337	43,672
CK HUTCHISON HLDGS HKD1.0	23,443	16,150
NETFLIX INC COM	15,529	54,371
VISA INC COM CL A	50,116	66,684
ALPHABET INC CLASS C	19,459	32,375
ALPHABET INC CAP STK CL C	45,324	74,462
PROCTER & GAMBLE CO/THE	37,138	46,104
LVMH MOET HENNESSY VUITTON SE	24,984	25,006
CHEVRON CORP	48,014	43,597
THERMO FISHER SCIENTIFIC INC COM	48,032	44,220
MASTERCARD INC CL A	41,004	58,976
ADOBE SYS INC COM	48,712	43,579
MEDTRONIC PLC	24,912	17,094
AMAZON COM INC COM	77,332	143,262
ZOETIS INC COM	45,641	41,710
APPLE INC COM	49,759	54,592
NESTLE SA	49,645	34,786
ORACLE CORP COM	59,347	59,657
P SAP SE-SPONSORED ADR	35,740	35,208
COUPANG INC	22,898	22,661
THERMO FISHER SCIENTIFIC INC	16,791	17,168
HDFC BANK LTD	16,033	15,646

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

US Government Securities - End of Year Book Value:

4,876,445

US Government Securities - End of Year Fair Market Value:

4,721,651

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
GOLDMAN SACHS REAL ESTATE INCOME TRUST, INC. CLASS G	AT COST	916,417	885,108
SLR HEALTHCARE (BDC) ACCESS LP	AT COST	677,128	636,369
PRIVATE EQUITY PARTNERS XI OFFSHORE LP	AT COST	0	811,171
HPS CORPORATE CAPITAL SOLUTIONS FUND CLASS A SERIES 1	AT COST	1,000,000	1,087,296
PRIVATE CREDIT MANAGERS II OFFSHORE LP	AT COST	969,766	1,371,733
PRIVATE CREDIT MANAGERS (2023) OFFSHORE LP	AT COST	221,632	231,504
MULTI-MANAGER US SMALL CAP EQUITY FUND P	AT COST	2,906,726	3,288,726
VINTAGE VIII OFFSHORE SCSP	AT COST	1,017,479	2,288,279
SLR PRIVATE CREDIT II (BDC) ACCESS, L.P.	AT COST	127,209	117,223
ISHARES MSCI EAFE INTERNATIONAL INDEX FUND CLASS G	AT COST	7,461,983	8,076,169
EATON VANCE INCOME FUND OF BOSTON	AT COST	4,529,500	4,477,281
U.S. REAL PROPERTY INCOME FUND, L.P.	AT COST	214,970	239,893
VINTAGE IX B OFFSHORE SCSP	AT COST	1,974,881	2,966,672
PRIVATE EQUITY MANAGERS (2020)	AT COST	1,249,741	1,423,807
MULTI-MANAGER INTERNATIONAL EQUITY FUND P	AT COST	6,628,205	8,193,315
FEDERATED HERMES HIGH YIELD BOND FUND	AT COST	4,700,348	4,487,872
APTITUDE PARTNERS LTD	AT COST	6,500,000	7,314,905
PRIVATE EQUITY MANAGERS (2019) OFFSHORE SCSP	AT COST	1,185,883	2,071,472
PRIVATE CREDIT MANAGERS IV OFFSHORE LP	AT COST	1,272,077	1,554,308
PRIVATE EQUITY MANAGERS (2021) OFFSHORE SCSP	AT COST	1,040,350	1,135,525
NZC GUGGENHEIM FUND LIMITED	AT COST	44,707	68,035
GS TACTICAL TILT OVERLAY FUND	AT COST	5,383,364	5,406,077
E&F PRIVATE EQUITY MANAGERS (2022) OFFSHORE LP	AT COST	1,677,734	1,538,597
ISHARES S&P 500 INDEX FUND CLASS G	AT COST	22,756,824	42,767,893

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Description	Amount
SECURITIES COST BASIS ADJUSTMENT	71,938

- TIN:

TY 2024 OtherExpensesSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADR FEES	371	371		0

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
CLASS ACTION SETTLEMENT	3,674	3,674	3,674
PARTNERSHIP INCOME/LOSS	145,870	145,870	145,870

- TIN:

TY 2024 OtherLiabilitiesSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Description	Beginning of Year - Book Value	End of Year - Book Value
DUE TO BROKER	11,162	0
PRIVATE EQUITY PARTNERS XI OFFSHORE LP	1,040,961	1,267,004

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	486,192	486,192		0

- TIN:

TY 2024 TaxesSchedule

Name:

THE STEWART J RAHR FOUNDATION

EIN:

27-4275648

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	22,366	22,366		0