Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
FREDERICK S UPTON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)2900 S STATE STREET STE 2E
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ST JOSEPH, MI49085
A Employer identification number

84-2579330
B Telephone number (see instructions)

(269) 983-3304
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$48,180,265J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 100,818
2 Check right arrow.............
3 Interest on savings and temporary cash investments 15,369 15,369  
4 Dividends and interest from securities... 1,438,728 1,438,728  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,706,397
b Gross sales price for all assets on line 6a 8,796,422
7 Capital gain net income (from Part IV, line 2)... 1,706,397
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).......      
12 Total. Add lines 1 through 11........ 3,261,312 3,160,494  
Operating and Administrative Expenses 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)......... Click to see attachment
List of Attached Documents:
// Content
54,200 0   54,200
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
331,200 331,200   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
87,027 33,663   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 1,452 0   1,452
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
5,281 0   5,281
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 479,160 364,863   60,933
25 Contributions, gifts, grants paid....... 2,000,000 2,000,000
26 Total expenses and disbursements. Add lines 24 and 25 2,479,160 364,863   2,060,933
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 782,152
b Net investment income (if negative, enter -0-) 2,795,631
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,278,915 1,248,672 1,248,672
2 Savings and temporary cash investments......... 60 60 60
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 18,083,710 Click to see attachment
List of Attached Documents:
// Content
16,756,338 		35,352,696
c Investments—corporate bonds (attach schedule)....... 9,150,817 Click to see attachment
List of Attached Documents:
// Content
10,965,473 		9,649,455
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans............. 139,468 474,614 463,465
13 Investments—other (attach schedule).......... 787,965 Click to see attachment
List of Attached Documents:
// Content
787,965 		1,465,917
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 29,440,935 30,233,122 48,180,265
Liabilities 17 Accounts payable and accrued expenses..........   10,035
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 10,035
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 29,440,935 30,223,087
29 Total net assets or fund balances (see instructions)..... 29,440,935 30,223,087
30 Total liabilities and net assets/fund balances (see instructions). 29,440,935 30,233,122
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
29,440,935
2
Enter amount from Part I, line 27a .....................
2
782,152
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
30,223,087
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
30,223,087
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a CAPITAL GROUP P   2024-12-31
b CAPITAL GROUP P   2024-12-31
c JP MORGAN P   2024-12-31
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 3,904,800   4,034,877 -130,077
b 4,891,622   3,252,595 1,639,027
c       197,447
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       -130,077
b       1,639,027
c       197,447
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,706,397
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 38,859
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 38,859
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 38,859
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 34,120
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 34,120
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 4,739
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMI
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowLISA CRIPPS-DOWNEY Telephone no.right arrow (269) 983-3304

Located atright arrow2900 SOUTH STATE STREET SUITE 2EST JOSEPHMI ZIP+4right arrow49085
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
CARRIE VILL CHAIR
1.00 		0 0 0
290 RIDGEWAY ST
ST JOSEPH,MI49085
JEFF UPTON VICE CHAIR
1.00 		0 0 0
1400 OCEAN BLVD UNIT 210
STSIMONS ISLAND,GA31522
THOMAS FOWLER TREASURER
1.00 		0 0 0
1227 SPUR DRIVE
ST JOSEPH,MI49085
BEN UPTON SECRETARY
1.00 		0 0 0
3610 W HURON RIVER DRIVE
ANN ARBOR,MI49103
BETSY UPTON STOVER MEMBER
1.00 		0 0 0
214 WEST SUMMIT STREET
ANN ARBOR,MI49103
FRED UPTON MEMBER
1.00 		0 0 0
PO BOX 900
ST JOSEPH,MI49085
KATHLEEN MCCLENDON MEMBER
1.00 		0 0 0
6902 AVONDALE DRIVE
OKLAHOMA CITY,OK73116
SARAH DUPONT MEMBER
1.00 		0 0 0
3675 BRINNINGTON ROAD
CHARLOTTESVILLE,VA22901
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...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
42,368,074
b
Average of monthly cash balances.......................
1b
1,249,738
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
43,617,812
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
43,617,812
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
654,267
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
42,963,545
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,148,177
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,148,177
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
38,859
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
38,859
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,109,318
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,109,318
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,109,318
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
2,060,933
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,060,933
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 2,109,318
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 483,013
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: right arrow$ 2,060,933
a Applied to 2023, but not more than line 2a 483,013
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..... 1,577,920
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 .......... 		531,398
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)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
LISA CRIPPS-DOWNEY
2900 S STATE 2E
ST JOSEPH,MI49085
(269) 983-3304
bThe form in which applications should be submitted and information and materials they should include:
INQUIRIES CAN BE SENT TO THE ABOVE ADDRESS
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
LIMITED TO ORGANIZATIONS DESCRIBED IN IRC SECTION 501(C)(3).
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BERRIEN COMMUNITY FOUNDATION

2900 SOUTH STATE STREET 2E
ST JOSEPH,MI49085 		N/A PC PROGRAM SUPPORT 2,000,000
Total .................................right arrow 3a 2,000,000
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 15,369  
4 Dividends and interest from securities ....     14 1,438,728  
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 1,706,397  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 3,160,494 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,160,494
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
FREDERICK S UPTON FOUNDATION
 
Employer identification number

84-2579330
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
FREDERICK S UPTON FOUNDATION
  		Employer identification number
84-2579330
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
BAIRD PRIVATE WEALTH MANAGEMENT
 
2900 S STATE STREET
 
ST JOSEPH, MI49085

$ 100,000


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
FREDERICK S UPTON FOUNDATION
  		Employer identification number

84-2579330
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
FREDERICK S UPTON FOUNDATION
  		Employer identification number

84-2579330
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 InvestmentsCorpBondsSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Name of Bond End of Year Book Value End of Year Fair Market Value
741069 SHS AMERICAN BOND FUND OF AMERICA CLASS F3 9,518,424 8,255,508
70215 SIX CIRCLES GLOBAL BOND 655,074 595,420
3729 VANGUARD TOTAL INTL BOND ETF 182,613 182,907
69327 SIX CIRCLES CREDIT OPPORT 609,362 615,620

TY 2024 InvestmentsCorpStockSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Name of Stock End of Year Book Value End of Year Fair Market Value
41500 SHS WHIRLPOOL CORP 234,153 4,750,920
1708 BRISTOL MYERS SQUIBB CO COM 107,041 96,604
3000 SHS ASTRAZENECA PLC 206,420 393,241
1817 PHILIP MORRIS INTL INC COM 140,974 218,676
1793 SHS SAFRAN SA PARIS 126,230 393,758
4164 SHS TOTALENERGIES SE 206,892 230,100
2054 SHS GROUP DANONE 137,062 138,491
10093 ENGIE ACT COM STK 148,303 159,993
1524 SHS BRITISH AMERICAN TOBACCO PLC ORD 55,363 54,961
1417 SAP AG SYSTEME ANWENDUNGEN PRODUKTE 131,060 346,690
267 MASTERCARD IN CL A 91,809 140,594
2544 SHS ANHEUSER BUSCH INBEV SA NV 137,719 127,093
1920 ABBOTT LABS COM 136,299 217,171
474 NORTHROP GRUMMAN CORP COM 134,795 222,443
4780 SHS INDUSTRIA DE DISENO TEXTIL INDITES 124,807 245,679
1528 LONDON STOCK EXCH GROUP PLC LONDON 122,742 215,923
1439 SHS NESTLE SA CHAM ET VEVEY 85,495 118,919
555 FEDEX CORP COM 142,038 156,138
2314 SHS AMADEUS IT GROUP SA 146,594 163,401
4025 NOVO NORDISK AS VORMALS NOVO 86,938 348,905
1121 ALPHABET INC CAP STK CL C 96,429 213,483
25689 SHS BP PLC 136,533 126,419
756 AMETEK INC NEW COM 60,310 136,277
7000 SHS FUJITSU LTD ORD 106,404 124,693
497 SHS DNB BANK ASA REGISTERED 7,995 9,932
294 HONEYWELL INTL INC COM 55,095 66,412
29714 SHS KONINKLUKE KPN NV 80,250 108,142
79 MERCADOLIBRE INC COM 90,992 134,335
887 SHS L'AIR LIQUIDE CO LTF 95,873 144,115
1062 CARLSBERGRNATIONAL 86,197 93,427
1044 HILTON WORLDWIDE HLDGS INC 65,937 258,035
645 CHEVRON CORP NEW COM 47,437 93,422
399 UNITEDHEALTH GROUP INC COM 75,241 201,838
352 SIKA AG NAMEN-AKT 85,722 83,834
353 JOHNSON & JOHNSON COM 57,152 51,051
2915 SHS TC ENERGY CORPORATION REGISTERED 109,030 135,797
155 REGENERON PHARMACEUTICALS INC COM 130,420 110,411
3300 SHS SHIN ETSU CHEMICAL CO 55,004 111,205
419 BEIGENE LTD SPONSORED ADR 62,696 77,393
241 SHS TFI INTERNATIONAL INC REGISTERED 19,914 32,553
1183 MICROSOFT CORP COM 54,071 498,635
1150 SHS AIRBUS SE BEARER 67,840 184,298
1747 ALPHABET INC CL A 46,953 330,707
658 RTX CORP COM 62,377 76,144
233 LINDE PLC SH 73,885 97,550
1230 SHS OBIC CO LTD TOKYO 26,420 36,730
10217 LINK REAL ESTATE INVESTMENT TRUST 80,164 43,208
139 LVMH (MOET HENNESSY LOUIS VUITTON) 70,503 91,462
1653 KEURIG DR PEPPER INC COM 55,567 53,094
4090 DBS GROUP HLDGS LTD 75,229 131,105
19698 SHS AIA GROUP LTD HONG KONG 55,226 142,770
625 ABBVIE INC COM 97,526 111,063
311 LOREAL S A C/C EFF 01/02/2025 1 NEW CU 40,572 110,079
5802 EPIROC AB REGISTERED SHS -A- ISIN 112,943 101,130
1001 CARRIER GLOBAL CORP COM 45,546 68,328
373 ANALOG DEVICES INC COM 64,439 79,248
751 GENERAL MLS INC COM 50,240 47,891
2193 CENTERPOINT ENERGY INC COM 64,223 69,584
255 SHS ADIDAS AG ORD 45,451 62,522
1258 JPMORGAN CHASE & CO COM 27,649 301,555
926 EDISON INTL COM 62,107 73,932
749 ARMSTRONG WORLD INDS INC 61,998 105,856
190 S&P GLOBAL INC COM 72,558 94,626
498 CONOCOPHILLIPS COM 24,559 49,387
289 GALLAGHER ARTHUR J & CO COM 55,777 82,033
582 ELECTRONIC ARTS INC COM 58,666 85,147
8853 SHS B&M EUROPEAN VALUE RETAIL SA 57,609 40,286
49 EQUINIX INC COM PAR 21,707 46,201
1529 RYANAIR HLDGS PLC SPONSORED ADR NEW 47,949 66,649
437 ITT INC COM 40,275 62,439
1414 RELX PLC SHS ISIN 53,410 64,255
843 ESSILORLUXOTTICA SA ACT 79,313 205,642
392 SHS STMICROELECTRONICS NV 15,476 9,745
209 MTU AERO ENGINES HOLDINGS AG 45,050 69,680
225 CHARTER COMMUNICATIONS INC NEW CL A 88,058 77,123
2348 SHS ABB LTD ZUERICK NAMEN AKT 66,678 127,156
28 SHS SHS GIVAUDAN AG DUEBENDOF 76,579 122,556
236 KLA CORP COM 40,139 148,708
2453 COMCAST CORP NEW CL A 47,919 92,061
126 MSCI INC COM 31,650 75,601
100 DAIKIN INDS LTD ORD 15,175 11,873
828 SEMPRA COM 47,013 72,632
916 GENERAL ELEC CO COM NEW 81,354 152,780
205 YUM BRANDS INC COM 10,039 27,503
25 NETFLIX INC COM 12,399 22,283
16 SHS GENMAB A/S 2,276 3,316
400 HOYA CORP SHS ISIN 43,447 50,433
662 STATE STR CORP COM 42,901 64,975
232 TEXAS INSTRS INC COM 42,859 43,502
222 CONSTELLATION BRANDS INC CL A 52,031 49,062
200 SALESFORCE INC COM 42,619 66,866
336 CAPGEMINI SE SHS ISIN 67,189 55,020
1600 DAIICHI SANKYO CO LTD TOKYO SHS ISIN 48,076 44,307
293 WASTE CONNECTIONS INC COM ISIN 39,030 50,246
1869 SHS IMPERIAL BRANDS PLC 41,948 59,749
948 WELLS FARGO & CO NEW COM 41,753 66,588
232 SHS SMC CORP 37,877 91,791
2239 CSX CORP COM 36,785 72,253
1600 ITOCHU CORP SHS ISIN 63,705 79,736
1180 TRACTOR SUPPLY CO COM 53,334 62,611
1268 INGERSOLL RAND INC COM 102,855 114,703
843 ROYAL CARIBBEAN GROUP 27,144 194,472
263 STRAUMANN HOLDINGAG NAMEN-AKT 26,940 33,162
829 UNITED AIRLS HLDGS INC COM 39,794 80,496
2983 AES CORP COM 37,069 38,391
2100 HONG KONG EXCHANGES AND CLEARING LTD ISIN 77,056 79,699
1500 NOMURA RESEARCH INSTITUTE LTD YOKOHAMA 36,573 44,468
36 PARTNERS GROUP HLDG ZUG NAMEN AKT ISIN 36,257 48,869
4500 TDK CORP SHS ISIN 35,136 59,343
2400 TERUMO CORP SHS ISIN 34,958 46,760
1609 TAIWAN SEMICONDUCTOR MFG CO SPONSORED ADR 33,728 317,761
316 PERNOD RICARD ORD SHS ISIN 59,640 35,663
1000 RECRUIT HOLDINGS CO LTD SHS ISIN 33,802 70,916
900 UNI CHARM CORP SHS ISIN 33,780 7,459
349 SHS AON PLC REGISTERED CL A 17,122 125,347
590 CMS ENERGY CORP COM 31,913 39,324
583 AMAZON COM INC 94,115 127,904
333 HEICO CORP NEW COM 49,163 79,167
734 DELTA AIR LINES INC DEL COM NEW 29,096 44,407
78 SERVICENOW INC COM 21,183 82,689
155 AXON ENTERPRISE INC COM 22,488 92,120
2803 SHS NATIONAL GRID PLC REGISTERED 38,733 33,344
3426 BROADCOM INC COM 14,812 794,284
251 CME GROUP INC COM 15,578 58,290
52 NORFOLK SOUTHN CORP COM 11,781 12,204
236 CHURCHILL DOWNS INC 28,078 31,515
28317 ROLLS-ROYCE HOLDINGS PLC LONDON SHS ISIN 137,168 201,617
283 HEICO CORP NEW CL A 27,275 52,661
719 MARSH & MCLENNAN COS INC COM 20,098 152,723
1493 UNICREDIT SPA AZ NOMINATIVA POST 23,307 59,554
383 CANADIAN NATL RY CO COM ISIN 42,597 38,878
37 SHS HERMES INTL S A 18,411 88,955
380 DSV A S SHS ISIN 44,551 80,688
411 SHS ASML HOLDING N V 17,226 288,820
120 TRANSDIGM GROUP INC COM 21,966 152,074
124 LINCOLN ELEC HLDGS INC COM 21,596 23,246
322 PNC FINL SVCS GROUP INC COM 42,982 62,098
81 COSTCO WHOLESALE CORP NEW COM 17,025 74,218
14 METTLER-TOLEDO INTL INC COM 16,309 17,132
210 META PLATFORMS INC CL A 60,418 122,957
43 ADOBE SYS INC COM 10,375 19,121
382 SHS KEYENCE CORPED 11,617 157,094
257 VERALTO CORP COM 12,210 26,175
110 CHUBB LTD COM 16,837 30,393
1873 APPLE INC COM 6,369 469,037
533 DANAHER CORP COM 9,715 122,350
642 VISA INC COM CL A 12,208 202,898
561 NOVO NORDISK A.S ADR FORMERLY NOVO 4,005 48,257
62 LILLY ELI & CO COM 4,908 47,864
153 HENRY JACK & ASSOC INC COM 5,036 26,821
2596 SINGAPORE TELECOMMUNICATIONS LTD SHS BOARD LOT 1000 4,729 5,862
501 SHS BAE SYSTEMS PLC 5,500 7,205
32 MOLINA HEALTHCARE INC COM 9,043 9,314
209 BROOKFIELD ASSET MANAGEMENT LTD CL A LTD VTG SHS 8,786 11,331
1972 FREEPORT-MCMORAN INC CL B 101,859 75,094
70 SHERWIN-WILLIAMS CO COM 21,317 23,795
923 ARISTOCRAT LEISURE LIMITED SHS 39,202 39,057
375 EVOLUTION GAMING GROUP AB REGISTERED SHS 35,482 28,888
140 FERRARI N V SHS 47,853 59,780
2900 H WORLD GROUP LTD SHE NEW 11,525 9,707
170 MARRIOTT INTL INC NEW CL A 42,126 47,420
1600 NINTENDO CO LTD KYOTO ORD 86,946 94,315
1720 NORWEGIAN CRUISE LINE HLDGS LTD SHS 34,010 44,256
743 EQT CORP COM 26,501 34,260
563 SOUTH BOW CORP REGISTERED SHS 10,399 13,280
210 ARCH CAPITAL GROUP LTD SHS 19,585 19,394
169 BLACKSTONE INC COM 20,652 29,139
2329 DEUTSCHE BANK AG NAMEN AKT 37,641 39,709
349 EURONEXT NV ORDINARY SHARES 35,090 39,135
405 ICICI BK LTD ADR 9,865 12,093
180 KKR & CO INC COM 28,435 26,624
75 MUENCHENER RUECKVERSICHERUNGS GELLSCHAFT AKTIENGELLSCHAFT IN MUENCHEN 38,110 37,526
8947 NATWEST GROUP PLC REGISTERED SHS 31,492 45,049
3979 SKANDINAVISKA ENSKILDA BANKEN AB SHS - A 53,797 54,551
74 TRADEWEB MKTS INC CL A 10,020 9,688
89 AMGEN INC COM 27,271 23,197
1000 CHUGAI PHARMACEUTICAL CO LTD COM 48,129 44,535
10000 INNOVENT BIOLOGICS, INC REGISTERED SHS UNITARY REG S/144A 46,645 47,118
227 MERCK & CO INC NEW COM 28,607 22,582
279 SAREPTA THERAPEUTICS INC COM 36,475 33,924
2400 MITSUBISHI CORP COM 49,904 39,766
54 RHEINMETALL AG SHS 34,154 34,363
130 SAIA INC COM 52,399 59,245
47 UNITED RENTALS INC COM 38,707 33,109
154 COCA COLA CO COM 10,227 9,588
295 HERSHEY CO COM 52,049 49,958
269 ACCENTURE PLC IRELAND SHS CL A 79,753 94,632
5007 AMERICAN MOVIL S A B DE C V SPONSORED ADR REPSTG CL B SHS 56,894 71,650
256 ATLASSIAN CORP CL A 41,715 62,305
3 CONSTELLATION SOFTWARE INC COM 9,502 9,273
251 GLOBANT S A COM 48,606 53,819
1006 INFINEON TECHNOLOGIES AG MUENCHEN NAMENS AKT 34,957 32,707
26 MICROSTRATEGY INC CL A NEW 3,643 7,530
364 T-MOBILE US INC COM 69,929 80,346
85 TENCENT HLDGS LTD SHS PAR HKD 0.00002 3,663 4,563
1332 TOAST INC CL A 28,143 48,551
371 ATMOS ENERGY CORP COM 51,690 51,669
328 CONSTELLATION ENERGY CORP COM 68,939 73,377
658 ENTERGY CORP NEW COM 35,121 49,890
582 GE VERNOVA INC COM 115,052 191,437
847 SSE PLC SHS 20,570 17,012
292 WELLTOWER INC COM 33,927 36,800
9501 SPDR S&P 500 ETF 1,780,331 5,568,346
119620 SIX CIRCLES US UNCONSTR EQ 1,324,701 2,082,586
114087 SIX CIRCLES INTL UNCON 1,009,405 1,216,168
4534 FIDELITY 500 INDEX FUND 505,640 925,888
8528 JPMORGAN BETABUILDERS JAPAN ETF 409,015 468,102
1816 VANGUARD INT-TERM CORPORATE 142,788 145,770
6533 ISHARES MSCI EAFE-EFT 339,539 493,960
4658 JPMORGAN BETABUILDERS CANADA 212,661 328,808
4699 JPMORGAN BETABUILDERS DEVELO 229,143 229,076

TY 2024 InvestmentsOtherSchedule2
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
1049 BLACKSTONE PARTNERS OFFSHORE FUND AT COST 787,965 1,465,917

TY 2024 LegalFeesSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL & PROFESSIONAL FEES 54,200 0   54,200


TY 2024 OtherExpensesSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OFFICE EXPENSES 414 0   414
INSURANCE 3,461 0   3,461
OTHER EXPENSES 1,406 0   1,406


TY 2024 OtherProfessionalFeesSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 331,200 331,200   0


TY 2024 TaxesSchedule
Name:
FREDERICK S UPTON FOUNDATION
EIN:
84-2579330
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 33,663 33,663   0
ESTIMATED TAX PAYMENTS 34,120 0   0
TAXES PAID 19,244 0   0