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 Charles T Bauer Charitable
Foundation

Number and street (or P.O. box number if mail is not delivered to street address)901 South Bond Street 400
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Baltimore, MD21231

A Employer identification number

47-6309118

B Telephone number (see instructions)

(410) 537-5400

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

$131,382,014J 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	264,244		264,244
4	Dividends and interest from securities...	2,124,255		2,124,255
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10	List of Attached Documents: // Content	5,881,665
b	Gross sales price for all assets on line 6a 36,752,103
7	Capital gain net income (from Part IV, line 2)...			5,809,719
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	2,001,246	1,398,877
12	Total. Add lines 1 through 11........	10,271,410		9,597,095
13	Compensation of officers, directors, trustees, etc.	197,000		19,700	177,300
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	13,000	6,500	6,500
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	332,471	196,594	135,877
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	72,802	2,802	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	896,984	591,095	3,880
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,512,257		816,691	323,557
25	Contributions, gifts, grants paid.......	6,121,700			6,121,700
26	Total expenses and disbursements. Add lines 24 and 25	7,633,957		816,691	6,445,257
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	2,637,453
b	Net investment income (if negative, enter -0-)			8,780,404
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.........	8,343,552	2,752,985	2,752,985
	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)	21,051,550	List of Attached Documents: // Content 23,689,586	23,100,116
	b	Investments—corporate stock (attach schedule).......	26,234,717	List of Attached Documents: // Content 31,288,020	45,560,985
	c	Investments—corporate bonds (attach schedule).......	6,347,169	List of Attached Documents: // Content 6,968,685	6,785,455
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	41,266,590	List of Attached Documents: // Content 41,181,755	53,182,473
	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)	103,243,578	105,881,031	131,382,014
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	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	103,243,578	105,881,031
	29	Total net assets or fund balances (see instructions).....	103,243,578	105,881,031
	30	Total liabilities and net assets/fund balances (see instructions).	103,243,578	105,881,031

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) ...............

103,243,578

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

2,637,453

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

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

105,881,031

Decreases not included in line 2 (itemize) right arrow

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

105,881,031

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
1 a	Publicly traded securities	P
b	Securities litigation proceeds	P
c	From Sch K-1 (Form 1065)	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	34,976,534	30,870,438	4,106,096
b	4,417		4,417
c	1,699,206		1,699,206
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			4,106,096
b			4,417
c			1,699,206
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	5,809,719
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	122,048
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	122,048
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	122,048
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	154,295
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	50,000
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	204,295
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	82,247
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax82,247	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?.........

Yes

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

Yes

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)

MD, TX

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 .............

Yes

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

Brown Advisory Telephone no. right arrow

(410) 537-5400

Located at right arrow

901 South Bond St Ste 400BaltimoreMD ZIP+4 right arrow

21231

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

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

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

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

16 No

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

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

Yes

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
Janet Bauer Hartman	Trustee 7.00	98,500
901 South Bond St Suite 40 Baltimore,MD21231	Trustee 7.00	98,500
Theodore Wingate Bauer	Trustee 7.00	98,500
901 South Bond St Suite 40 Baltimore,MD21231	Trustee 7.00	98,500

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
Brown Advisory	Admin/Investments	317,467
901 South Bond St Suite 400 Baltimore,MD21231	Admin/Investments	317,467

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

Part VIII-A

Summary of Direct Charitable Activities

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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2024)

Page 8

Part IX

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

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

purposes:

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

127,486,959

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

4,841,811

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

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

132,328,770

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.........................

132,328,770

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

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

1,984,932

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

130,343,838

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

6,517,192

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..................

6,517,192

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

122,048

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

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

122,048

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

6,395,144

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

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

6,395,144

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

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

6,395,144

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 ..........

6,445,257

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. .......

6,445,257

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				6,395,144
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......			3,736,811
b Total for prior years:20 , 20, 20		0
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 ........	0
4Qualifying distributions for 2024 from Part
XI, line 4: $ 6,445,257
a Applied to 2023, but not more than line 2a			3,736,811
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.....				2,708,446
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2024.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	0
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 ..........				3,686,698
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) ...	0
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).)

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
Art with a Heart Inc 3000 Falls Rd Mill No 1 Baltimore,MD21211	N/A	PC	General support	120,000
Baltimore Symphony Orchestra Inc 1212 Cathedral St Baltimore,MD21201	N/A	PC	General support	50,000
Biotechnical Institutes of Maryland 2001 Aliceanna St Baltimore,MD21231	N/A	PC	General support	100,000
Boys Latin School of Maryland Inc 822 W Lake Ave Baltimore,MD21210	N/A	PC	General support	313,750
Bucknell University 82 University Ave Lewisburg,PA17837	N/A	PC	General support	600,000
Chesapeake Bay Foundation Inc 6 Herndon Ave Annapolis,MD21403	N/A	PC	General support	50,000
Community Foundation of Anne Arundel County 900 Bestgate Rd Ste 400 Annapolis,MD21401	N/A	PC	General support	14,400
Cool Kids Campaign Foundation Inc 8422 Bellona Ln Ste 102 Towson,MD21204	N/A	PC	General support	80,000
Cylburn Arboretum Friends Inc 4915 Greenspring Ave Baltimore,MD21209	N/A	PC	General support	50,000
Cystic Fibrosis Foundation 4550 Montgomery Ave Ste 1100N Bethesda,MD20814	N/A	PC	General support	90,000
Echo Hill Outdoor School 13655 Bloomingneck Rd Worton,MD21678	N/A	PC	General support	22,000
Gilchrist Hospice Care Inc 11311 McCormick Rd Ste 350 Hunt Valley,MD21031	N/A	PC	General support	50,000
Girls Charter School 5204 Roland Ave Baltimore,MD21210	N/A	PC	Little May Charter	110,800
Irvine Natural Science Center Inc 11201 Garrison Forest Rd Owings Mills,MD21117	N/A	PC	General support	250,000
Irvine Natural Science Center Inc 11201 Garrison Forest Rd Owings Mills,MD21117	N/A	PC	General support	120,000
Johns Hopkins Medicine 750 E Pratt St 17th Fl Baltimore,MD21202	N/A	PC	General support	200,000
Johns Hopkins Medicine FBO ITSCC 750 E Pratt St 17th Fl Baltimore,MD21202	N/A	PC	International Immunosuppression & Transplant Skin Cancer Collaborative	5,000
Johns Hopkins Medicine FBO ITSCC 750 E Pratt St 17th Fl Baltimore,MD21202	N/A	PC	International Immunosuppression & Transplant Skin Cancer Collaborative	20,000
Johns Hopkins Medicine FBO ITSCC 750 E Pratt St 17th Fl Baltimore,MD21202	N/A	PC	International Immunosuppression & Transplant Skin Cancer Collaborative	100,000
Johns Hopkins University 3910 Keswick Rd No N4327B Baltimore,MD21211	N/A	PC	Women's Wellness & Healthy Aging Program and general support	100,000
Johns Hopkins University 3910 Keswick Rd No N4327B Baltimore,MD21211	N/A	PC	Women's Wellness & Healthy Aging Program and general support	200,000
Keep Punching 2222 Sugarcone Road Baltimore,MD21209	N/A	PC	General support	150,000
Kennedy Krieger Foundation Inc 707 N Broadway Baltimore,MD21205	N/A	PC	General support	150,000
Living Classrooms 802 S Caroline St Baltimore,MD21231	N/A	PC	General support	547,750
Longboat Key Garden Club Inc 540 Putter Ln Longboat Key,FL34228	N/A	PC	General support	15,000
Maryland Food Bank Inc 2200 Halethorpe Farms Rd Baltimore,MD21227	N/A	PC	General support	50,000
Mote Marine Laboratory 1600 Ken Thompson Pkwy Sarasota,FL34236	N/A	PC	General support	100,000
National Aquarium in Baltimore Inc Pier 3 - 501 East Pratt St Baltimore,MD21202	N/A	PC	General support	100,000
National Council on Alcoholism and Drug Dependence 28 E Ostend St Ste 303 Baltimore,MD21230	N/A	PC	General support	70,000
Nature Conservancy 4245 N Fairfax Dr Ste 100 Arlington,VA22203	N/A	PC	General support	150,000
New Hour for Women & Children Li Inc PO Box 213 Brentwood,NY11717	N/A	PC	General support	8,000
Next One Up Foundation 502 Washington Ave Ste 425 Towson,MD21204	N/A	PC	General support	50,000
NorthShore Holiday House 74 Huntington Rd Huntington,NY11743	N/A	PC	General support	100,000
Pathfinders Inc 303 International Circle Ste 110 Cockeysville,MD21030	N/A	PC	General support	50,000
Pauls Place Inc 1118 Ward St Baltimore,MD21230	N/A	PC	General support	50,000
Pink Aid Inc PO Box 5157 Westport,CT06881	N/A	PC	General support	20,000
Pink Purse Program PO Box 5157 Westport,CT06881	N/A	PC	General support	20,000
Players Philanthropy Fund 1122 Kenilworth Dr Ste 201 Towson,MD21204	N/A	PC	General support	100,000
Roland Park Country School Inc 5204 Roland Ave Baltimore,MD21230	N/A	PC	General support	10,000
Roland Park Country School Inc 5204 Roland Ave Baltimore,MD21230	N/A	PC	General support	1,000,000
Rubicon Productions 14400 Bonnie View Rd Sparks Glencoe,MD21152	N/A	PC	General support	100,000
Second Chance Last Opportunity Inc PO Box 1027 Sarasota,FL34230	N/A	PC	General support	30,000
St Paul's School for Girls 11232 Falls Rd Brooklandville,MD21022	N/A	PC	General support	200,000
The Family Tree Inc 2108 N Charles St Baltimore,MD21218	N/A	PC	General support	25,000
United Community Centers Inc 1200 E Maddox Ave Fort Worth,TX76104	N/A	PC	General support	180,000
Washington & Lee University 204 West Washington St Lexington,VA24450	N/A	PC	General support	200,000
Total ................................. 3a				6,121,700

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	264,244
4 Dividends and interest from securities ....			14	2,124,255
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 ............	525990	71,946	18	5,809,719
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFrom Sch K-1 (Form 1065)	525990	602,278	14	1,398,968
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		674,224		9,597,186	0

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

10,271,410

(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 AccountingFeesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting and tax compliance	13,000	6,500		6,500

- TIN:

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

TY 2024 GainLossSaleOtherAssetsSch

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name	Date Acquired	How Acquired	Date Sold	Purchaser Name	Gross Sales Price	Basis	Basis Method	Sales Expenses	Total (net)	Accumulated Depreciation
From Sch K-1 (Form 1065)		Purchased			71,946		Cost	0	71,946

- TIN:

TY 2024 GeneralExplanationAttachment

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Identifier	Return Reference	Explanation
Controlled Entity	Form 990-PF, Part VI-A, Line 11	The Charles T. Bauer Foundation held a controlling interest in Brown Advisory Investors 2012 - NEA 14 (TE), LLLP per IRC Sec. 512(b)(13). As of 12/31/2024, the Foundation's ownership interest in this entity was 55.55%. This entity is an investment fund and not a business enterprise per IRC Sec. 4943(d)(3)(B).

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name of Bond	End of Year Book Value	End of Year Fair Market Value
260000 Dollar Tree, Inc. 4.200% Due 5/15/2028	280,840	252,750
275000 Wells Fargo & Co. 3.000% Due 10/23/2026	281,599	266,646
135000 Fortis Inc. 3.055% Due 10/4/2026	138,833	130,751
35000 Eastman Chemical Co. 5.750% Due 3/8/2033	36,084	35,650
200000 GMCAR 2021-3 B 0.970% Due 8/16/2027	199,992	195,074
415000 AMXCA 2022-2 A 3.390% Due 5/17/2027	414,908	413,157
136000 Comcast Corp. 3.400% Due 4/1/2030	139,515	126,194
285000 Broadcom, Inc. 4.550% Due 2/15/2032	284,843	275,604
275000 US Bancorp - Fix-to-Float 5.384% Due 1/23/2030	275,510	277,272
160000 Perkinelmer Inc. 1.900% Due 9/15/2028	159,885	143,317
285000 Roper Industries, Inc. 4.500% Due 10/15/2029	283,919	279,856
285000 J.B. Hunt Transport Services, Inc. 3.875% Due 3/1/2026	284,199	282,124
125000 Sysco Corp. 5.950% Due 4/1/2030	128,153	130,198
245000 PNC Financial Services - Fix to Float 6.875% Due 10/20/2034	270,018	267,432
325000 Stryker Corp. 1.950% Due 6/15/2030	281,687	279,422
145000 American Tower Corp. 3.600% Due 1/15/2028	151,370	139,406
280000 Clorox Co. 4.400% Due 5/1/2029	279,065	275,618
155000 Crown Castle International Corp. 3.300% Due 7/1/2030	154,152	140,831
450000 Waste Connections Inc. 5.000% Due 3/1/2034	444,758	439,177
275000 Hasbro, Inc. 3.550% Due 11/19/2026	282,026	268,887
275000 Air Lease Corp. 5.100% Due 3/1/2029	272,294	275,578
295000 Analog Devices, Inc. 1.700% Due 10/1/2028	293,292	264,795
270000 Citigroup, Inc. 3.200% Due 10/21/2026	278,151	262,572
255000 Keysight Technologies Inc. 4.600% Due 4/6/2027	266,880	253,666
295000 Oracle Corp. 2.800% Due 4/1/2027	285,649	283,253
335000 Regeneron Pharmaceutical 1.750% Due 9/15/2030	273,403	278,810
275000 Carrier Global Corp. 2.242% Due 2/15/2025	265,711	273,900
280000 Morgan Stanley 3.125% Due 7/27/2026	261,949	273,515

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Name of Stock	End of Year Book Value	End of Year Fair Market Value
922 Alphabet, Inc. Cl C	41,908	175,586
197 Costco Wholesale Corp.	17,234	180,505
171 ServiceNow, Inc.	82,969	181,280
358 NXP Semiconductor NV	45,912	74,410
888 Veralto Corp.	66,916	90,443
388 Generac Holdings, Inc.	42,367	60,159
2278 Uber Technologies, Inc.	114,380	137,409
494 Workday, Inc.	124,577	127,467
908 Amazon.com, Inc.	27,534	199,206
180 Trane Technologies PLC	60,016	66,483
254 West Pharmaceutical Services, Inc.	76,716	83,200
639 Trade Desk, Inc. Cl A	83,086	75,102
117 Netflix, Inc.	85,940	104,284
351 Cadence Design Systems, Inc.	103,086	105,460
1482 CoStar Group, Inc.	107,073	106,096
303 S&P Global, Inc.	116,700	150,903
92 TransDigm Group, Inc.	116,760	116,590
1577 Marvell Technology, Inc.	117,028	174,180
140 Adobe, Inc.	13,060	62,255
719 Zoetis, Inc.	61,589	117,147
453 Microsoft Corp.	62,873	190,940
1433 NVIDIA Corp.	30,061	192,438
259 Align Technology, Inc.	65,342	54,004
583 Progressive Corp.	80,404	139,693
632 Hilton, Inc.	126,320	156,205
337 Veeva Systems, Inc. Cl A	89,656	70,854
324 Mastercard, Inc.	103,678	170,609
215 Intuit, Inc.	24,949	135,128
315 Intuitive Surgical, Inc.	8,944	164,417
632 Cintas Corp.	26,434	115,466
494 Autodesk, Inc.	75,069	146,012
1414 Fortive Corp.	29,271	106,050
1926 Alphabet, Inc. Cl A	23,530	364,592
831 Cadence Design Systems, Inc.	124,900	249,682
3660 Marvell Technology, Inc.	104,391	404,247
798 Workday, Inc.	210,758	205,908
5588 NVIDIA Corp.	78,522	750,413
316 Thermo Fisher Scientific, Inc.	35,941	164,393
3338 Amazon.com, Inc.	268,732	732,324
653 Verisk Analytics, Inc.	29,430	179,856
517 Trade Desk, Inc. Cl A	66,558	60,763
1233 Carrier Global Corp.	85,350	84,165
906 Agilent Technologies, Inc.	116,130	121,712
957 Datadog, Inc.	121,672	136,746
286 Intuitive Surgical, Inc.	136,655	149,280
852 General Electric Co.	152,873	142,105
1311 Ares Management Corp	194,072	232,086
994 Arthur J. Gallagher & Co.	242,443	282,147
1649 Airbnb, Inc.	254,723	216,695
2865 KKR & Co., Inc	275,858	423,762
276 KLA Corp.	183,892	173,913
596 Ecolab, Inc.	27,678	139,655
3037 Chipotle Mexican Grill, Inc.	92,762	183,130
1224 Visa, Inc.	58,992	386,833
3674 Uber Technologies, Inc.	176,320	221,616
1482 Microsoft Corp.	222,211	624,663
379 ServiceNow, Inc.	108,583	401,785
3857 Dynatrace Holdings LLC	153,976	209,628
1361 Progressive Corp.	279,991	326,109
294 MSCI, Inc.	120,411	176,403
1097 Danaher Corp.	59,557	251,816
1717 Veralto Corp.	116,468	174,876
635 Intuit, Inc.	76,523	399,098
341 Monolithic Power Systems, Inc.	45,405	201,770
724 West Pharmaceutical Services, Inc.	130,044	237,153
1225 SITE Centers Corp.	69,314	18,730
4640 Pacific Premier Bancorp, Inc.	109,438	115,629
7280 NCR Atleos Corp	150,928	246,938
3071 Dime Community Bancshares, Inc.	98,335	94,387
1579 CTS Corp.	34,046	83,260
260 Curtiss-Wright Corp.	23,373	92,266
430 Nexstar Media Group, Inc.	22,684	67,927
896 Hanover Insurance Group, Inc.	92,618	138,575
5048 Oceaneering International, Inc.	47,738	131,652
1567 Peapack-Gladstone Financial Corp.	41,359	50,222
4762 MGIC Investment Corp.	54,253	112,907
3158 Thermon Group Holdings, Inc.	61,573	90,856
1998 Signet Jewelers Ltd.	146,543	161,259
9946 Eastern Bankshares, Inc.	163,359	171,569
3771 Mueller Water Products, Inc.	39,076	84,848
1342 KinderCare Learning Companies, Inc.	24,123	23,888
555 Bel Fuse, Inc. - Cl A	34,693	49,994
460 Bel Fuse, Inc. Cl-B	38,267	37,936
703 Monarch Casino & Resort, Inc.	45,808	55,467
2270 Monro, Inc.	65,275	56,296
7705 Global Net Lease, Inc.	67,230	56,247
1633 Crane NXT Co.	70,092	95,073
2537 Peoples Bancorp, Inc. (Ohio)	71,305	80,398
2770 Bristow Group, Inc.	77,044	95,010
2978 Seacoast Banking Corp of Florida	77,669	81,984
5728 Expro Group Holdings NV	92,965	71,428
4096 Sitio Royalties Corp	94,484	78,560
3153 First Interstate BancSystem, Inc. Cl A	95,444	102,378
1700 Assured Guaranty Ltd.	98,075	153,017
4472 Guardian Pharmacy Services, Inc.	100,408	90,603
63 White Mountains Insurance Group Ltd.	101,348	122,539
2897 Horace Mann Educators Corp.	102,255	113,649
875 EnPro, Inc.	110,409	150,894
2994 Yeti Holdings, Inc.	111,099	115,299
6309 Avanos Medical, Inc.	122,609	100,439
810 OSI Systems, Inc.	128,914	135,618
2530 IAC, Inc.	130,411	109,144
7735 Old National Bancorp of Indiana	134,225	167,888
2811 Shutterstock, Inc.	135,056	85,314
2996 John Wiley & Sons, Inc. Cl A	146,848	130,955
1594 Talen Energy Corp.	149,136	321,143
1627 Tennant Co.	158,684	132,649
4126 Sensata Technologies Holding PLC	167,012	113,052
255 Cable One, Inc.	178,596	92,340
10852 Nomad Foods Ltd	194,044	182,097
8648 Orion S.A.	200,593	136,552
4500 The Bancorp, Inc.	107,182	236,835
1301 Albany International Corp. Cl A	55,813	104,040
2255 WSFS Financial Corp.	115,127	119,808
2238 Rex American Resources Corp.	65,148	93,302
430 PC Connection, Inc.	16,909	29,786
2407 Patterson Companies, Inc.	66,513	74,280
938 Eagle Materials, Inc.	66,189	231,460
2170 La-Z-Boy, Inc.	65,966	94,547
2627 Ingevity Corp.	170,383	107,050
2068 Portland General Electric Co.	84,890	90,206
265 Virtus Investment Partners, Inc.	19,622	58,454
1718 Modine Manufacturing Co.	39,153	199,168
100 Murphy USA, Inc.	4,913	50,175
308 Kadant, Inc.	7,666	106,257
12737 NCR Voyix Corp.	179,245	176,280
3807 Essential Properties Realty Trust, Inc.	45,941	119,083
9481 Ladder Capital Corp.	93,917	106,092
4259 Global Medical REIT, Inc.	60,001	32,879
1973 Getty Realty Corp.	45,527	59,446
2530 Curbline Properties Corp.	54,463	58,747
696 Entegris, Inc.	39,184	68,946
1156 Cogent Communications Group, Inc.	69,168	89,093
1227 Clear Secure, Inc. Cl A	24,683	32,687
2619 DigitalBridge Group, Inc.	48,160	29,542
1414 Zurn Elkay Water Solutions Corp.	47,628	52,742
400 Take-Two Interactive Software, Inc.	51,224	73,632
791 Cytokinetics, Inc.	53,810	37,209
672 Lattice Semiconductor Corp.	25,914	38,069
1784 Establishment Labs Holdings, Inc.	41,211	82,189
243 Workiva, Inc.	8,036	26,609
235 FTI Consulting, Inc.	24,156	44,916
43 TopBuild Corp.	1,936	13,388
322 Eastgroup Properties Inc	31,207	51,678
904 OrthoPediatrics Corp.	33,574	20,955
375 Blueprint Medicines Corp	23,337	32,708
251 The AZEK Co.	9,272	11,915
1454 Bruker Corp.	72,407	85,233
327 MSA Safety, Inc.	34,655	54,207
119 Quaker Houghton	17,450	16,750
1330 Bright Horizons Family Solution, Inc.	71,964	147,430
44 ServiceTitan, Inc.	3,124	4,526
658 First Watch Restaurant Group, Inc.	11,844	12,245
228 SPX Technologies, Inc.	19,112	33,179
697 Tandem Diabetes Care, Inc.	23,522	25,106
126 Simpson Manufacturing Co., Inc.	23,590	20,895
676 Biohaven Ltd.	26,414	25,249
4069 LifeStance Health Group, Inc.	29,418	29,989
391 Vaxcyte, Inc.	32,195	32,007
202 Curtiss-Wright Corp.	32,562	71,684
468 Insmed, Inc.	33,500	32,310
1663 OPENLANE, Inc.	33,700	32,994
362 Sitime Corporation	36,287	77,660
2666 Mirion Technologies, Inc.	37,443	46,522
290 EnPro, Inc.	42,125	50,011
241 Applied Industrial Technologies, Inc.	46,182	57,712
567 Power Integrations, Inc.	46,646	34,984
2397 KinderCare Learning Companies, Inc.	55,671	42,667
795 Casella Waste Systems Cl A	60,240	84,119
2489 Oceaneering International, Inc.	62,111	64,913
970 Bio-Techne Corp.	66,132	69,869
3773 Phreesia, Inc.	77,220	94,929
3303 ChampionX Corp.	80,125	89,809
2022 Fluor Corp.	82,674	99,725
10045 CCC Intelligent Solutions Holdings, Inc.	108,590	117,828
1195 Inari Medical, Inc.	61,274	61,005
149 Houlihan Lokey, Inc.	13,994	25,875
559 BlackLine, Inc.	22,142	33,965
300 Guidewire Software, Inc.	24,662	50,574
4391 NeoGenomics, Inc.	53,140	72,364
2353 Dynatrace Holdings LLC	79,661	127,886
197 IDEX Corp.	23,235	41,230
321 SiteOne Landscape Supply, Inc.	32,951	42,298
110 Kadant, Inc.	30,180	37,949
275 Casey's General Stores, Inc.	28,834	108,963
1667 Mueller Water Products, Inc.	22,007	37,508
236 Littelfuse, Inc.	47,542	55,613
999 H.B. Fuller Co.	66,180	67,413
373 Valmont Industries, Inc.	88,050	114,388
9126 Mister Car Wash, Inc.	86,492	66,529
2757 Standard Aero, Inc.	77,516	68,263
979 Waste Connections Inc	42,848	167,977
1680 Prosperity Bancshares, Inc.	93,314	126,588
196 Woodward, Inc.	8,835	32,618
659 Neurocrine Biosciences, Inc.	35,868	89,954
1438 HealthEquity, Inc.	86,035	137,976
401 Cactus, Inc.	11,960	23,402
2364 Si-Bone, Inc.	55,410	33,143
1006 Encompass Health Corp.	51,763	92,904
224 WEX, Inc.	22,827	39,272
8529 Infinera Corp.	65,117	56,036
2601 Rentokil Initial PLC Sponsored ADR	96,750	65,857
1780 Pros Holdings, Inc.	66,355	39,089
238 Blackstone Inc.	8,450	41,036
373 General Electric Co.	32,883	62,213
1080 Alphabet, Inc. Cl C	8,308	205,675
487 Mastercard, Inc.	6,818	256,440
822 Visa, Inc.	17,461	259,785
1599 Edwards Lifesciences Corp.	41,770	118,374
174 Intuit, Inc.	43,885	109,359
163 Adobe, Inc.	55,697	72,483
226 Elevance Health, Inc.	22,961	83,371
1032 Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR	57,205	203,810
1161 American International Group, Inc.	80,485	84,521
486 Agilent Technologies, Inc.	45,700	65,289
713 TJX Companies, Inc.	16,826	86,138
1394 Bank of America Corp.	12,126	61,266
820 Alphabet, Inc. Cl A	6,397	155,226
459 Meta Platforms, Inc.	55,094	268,749
166 United Rentals, Inc.	7,616	116,937
1840 KKR & Co., Inc	56,859	272,154
232 Lowe's Companies, Inc.	4,183	57,258
696 CarMax, Inc.	5,310	56,905
855 Microsoft Corp.	16,348	360,383
504 Canadian National Railway Co.	26,430	51,161
372 Progressive Corp.	43,517	89,135
3106 Nomad Foods Ltd	44,615	52,119
74 KLA Corp.	46,252	46,629
202 Workday, Inc.	51,294	52,122
386 Illumina, Inc.	54,266	51,581
236 Danaher Corp.	54,581	54,174
416 Ferguson Enterprises Inc	66,752	72,205
322 Autodesk, Inc.	70,756	95,174
670 Fiserv, Inc.	77,180	137,631
4135 Amer Sports, Inc.	58,661	115,615
1741 Baker Hughes Co	49,549	71,416
226 Align Technology, Inc.	45,352	47,123
963 Uber Technologies, Inc.	44,369	58,088
463 Berkshire Hathaway, Inc. Cl B	25,135	209,869
337 Analog Devices, Inc.	30,514	71,599
59 First Citizens BancShares, Inc. Cl A	39,365	124,668
374 T-Mobile US, Inc.	47,808	82,553
748 Apple, Inc.	10,686	187,314
385 UnitedHealth Group, Inc.	109,234	194,756
28 Booking Holdings, Inc.	27,741	139,116
421 Bright Horizons Family Solution, Inc.	46,669	46,668
1137 Amazon.com, Inc.	127,138	249,446
1097 Carrier Global Corp.	27,127	74,881
2643 Suncor Energy, Inc.	66,425	94,302
5352 Kenvue Inc.	101,505	114,265
2057 Unilever PLC Sponsored ADR	92,163	116,632
261 Linde PLC	71,327	109,273
719 Medtronic PLC	59,907	57,434
528 Best Buy Co., Inc.	25,935	45,302
213 Ameriprise Financial, Inc.	37,148	113,408
742 AbbVie, Inc.	88,208	131,853
1483 Bank of America Corp.	40,410	65,178
294 T-Mobile US, Inc.	42,330	64,895
142 UnitedHealth Group, Inc.	49,973	71,832
529 JPMorgan Chase & Co.	55,355	126,807
297 Constellation Energy	60,990	66,442
1447 Portland General Electric Co.	62,599	63,118
6049 Ladder Capital Corp.	65,738	67,688
2478 Getty Realty Corp.	68,318	74,662
2032 Schlumberger Ltd.	76,989	77,907
316 Cummins, Inc.	79,244	110,158
1430 Citigroup, Inc.	88,572	100,658
1135 Morgan Stanley	97,742	142,692
675 Eastgroup Properties Inc	108,990	108,331
775 Procter & Gamble Co.	115,375	129,929
433 Target Corp.	53,145	58,533
437 Starbucks Corp.	40,430	39,876
957 Gilead Sciences, Inc.	67,714	88,398
195 Accenture PLC	37,668	68,599
631 Microsoft Corp.	122,337	265,967
346 PepsiCo, Inc.	57,464	52,613
238 Home Depot, Inc.	57,945	92,580
318 McDonald's Corp.	57,778	92,185
857 Apple, Inc.	56,840	214,610
523 Merck & Co, Inc.	17,585	52,028
1342 Dow, Inc.	69,237	53,854
563 Automatic Data Processing, Inc.	89,232	164,807
710 Novartis AG Sponsored ADR	51,014	69,090
1472 Cogent Communications Group, Inc.	91,590	113,447
683 Blackstone Inc.	53,012	117,763
5860 Kinder Morgan, Inc.	99,097	160,564
34 Coinbase Global, Inc. Cl A	782	8,442
347 ROBLOX Corp. Cl A	2,741	20,077
Brown Advisory Mortgage Securities Fund Cl Inst	9,568,943	8,421,381
Brown Advisory Emerging Markets Select Fund Cl Inst	500,000	459,363
Brown Advisory Global Leaders Fund Cl Inst	1,169,976	3,158,082

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

US Government Securities - End of Year Book Value:

23,494,586

US Government Securities - End of Year Fair Market Value:

22,907,737

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

195,000

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

192,379

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
Brown Advisory Investors - GEOF II, LLLP	AT COST	5,010,255	4,768,978
Brown Advisory Investors 2008 - NEA 13, LLLP	AT COST	175,813	121,995
Brown Advisory Investors 2010 - EnCap VIII (TE), LLLP	AT COST	581,806	192,466
Brown Advisory Investors 2011 - RG II, LLLP	AT COST	65,260	14,999
Brown Advisory Investors 2011 - SLK (TE), LLLP	AT COST	62,622	75,898
Brown Advisory Investors 2012 - EFM II (TE), LLLP	AT COST	325,448	103,941
Brown Advisory Investors 2012 - EnCap IX (TE), LLLP	AT COST	708,220	322,414
Brown Advisory Investors 2012 - NEA 14 (TE), LLLP	AT COST	131,870	474,909
Brown Advisory Investors 2012 - RS Energy V (TE), LLLP	AT COST	73,416	10,135
Brown Advisory Investors 2014 - EFM III (TE), LLLP	AT COST	661,155	505,542
Brown Advisory Investors 2015 - CRC IV (QP), LLLP	AT COST	373,713	877,429
Brown Advisory Investors 2015 - Energy X (TE), LLLP	AT COST	443,287	422,350
Brown Advisory Investors 2017 - Energy XI, LLLP	AT COST	547,122	1,189,226
Brown Advisory Investors 2018 - EFM IV, LLLP	AT COST	167,500	558,627
Brown Advisory Investors SI International, LLLP	AT COST	18,832,101	18,234,076
Brown Advisory Private Equity Partners 10 (Q), LLLP	AT COST	228,233	256,890
Brown Advisory Private Equity Partners 11 (Q), LLLP	AT COST	95,543	103,116
Brown Advisory Private Equity Partners 12 (Q), LLLP	AT COST	44,157	51,231
Brown Advisory Private Equity Partners III (TE), LLLP	AT COST	1,021,543	1,359,798
Brown Advisory Private Equity Partners IV (TE), LLLP	AT COST	369,355	750,427
Brown Advisory Private Equity Partners IX (QP), LLLP	AT COST	400,096	476,203
Brown Advisory Private Equity Partners VI (TE), LLLP	AT COST	333,486	591,567
Brown Advisory Private Equity Partners VII (AI), LLLP	AT COST	398,512	626,365
Brown Advisory Private Equity Partners VIII (AI), LLLP	AT COST	380,999	523,798
Brown Advisory Real Estate Partners 4 (QP), LLLP	AT COST	87,381	94,545
Brown Advisory Real Estate Partners I (QP), LLLP	AT COST	328,267	449,914
Brown Advisory Real Estate Partners II (AI), LLLP	AT COST	338,834	473,818
Brown Advisory Real Estate Partners III (AI), LLLP	AT COST	272,325	312,225
Cougar Investment Fund LLC	AT COST	366,123	339,183
DFJ Mercury II LP	AT COST	119,534	126,276
Edgbaston Asian Equity Trust	AT COST	3,337,009	2,887,991
Global Select Hedged Managers - Class 1 - Tax-Exempt	AT COST	1,900,770	3,580,516
Viking Long Fund - Class 1 - Tax-Exempt	AT COST	3,000,000	12,305,625

- TIN:

TY 2024 OtherExpensesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Passthrough K-1 expenses	893,104	591,095		0
Insurance	3,880	0		3,880

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
From Sch K-1 (Form 1065)	2,001,246	1,398,877	2,001,246

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Grants management & administration	135,877	0		135,877
Investment advisor	196,594	196,594		0

- TIN:

TY 2024 TaxesSchedule

Name:

The Charles T Bauer Charitable

Foundation

EIN:

47-6309118

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Excise tax	70,000	0		0
Foreign tax	2,802	2,802		0