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
AGUA FUNDINC
 
Number and street (or P.O. box number if mail is not delivered to street address)203 MILLDALE HOLLOW ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
FRONT ROYAL, VA22630
A Employer identification number

11-3659697
B Telephone number (see instructions)

(202) 342-2482
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$9,321,890J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 218,785 218,785  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,411,004
b Gross sales price for all assets on line 6a 10,616,132
7 Capital gain net income (from Part IV, line 2)... 1,411,004
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........ 1,629,789 1,629,789  
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
2,810 0   2,810
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,400 0   4,400
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
674,409 33,986   640,423
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
16,515 819   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 11,817 0   11,817
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
38,484 0   38,484
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 748,435 34,805   697,934
25 Contributions, gifts, grants paid....... 3,070,000 3,070,000
26 Total expenses and disbursements. Add lines 24 and 25 3,818,435 34,805   3,767,934
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,188,646
b Net investment income (if negative, enter -0-) 1,594,984
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.............      
2 Savings and temporary cash investments......... 682,400 3,110,828 3,110,828
3 Accounts receivable right arrow10,683
Less: allowance for doubtful accounts right arrow   12,513 10,683 10,683
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)....... 4,515,828 Click to see attachment
List of Attached Documents:
// Content
1,141,369 		2,151,803
c Investments—corporate bonds (attach schedule)....... 3,366,785 Click to see attachment
List of Attached Documents:
// Content
3,520,741 		3,451,462
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,858,107 Click to see attachment
List of Attached Documents:
// Content
359,116 		597,114
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) 10,435,633 8,142,737 9,321,890
Liabilities 17 Accounts payable and accrued expenses.......... 64,436  
18 Grants payable................. 40,000  
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 104,436 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 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 10,331,197 8,142,737
29 Total net assets or fund balances (see instructions)..... 10,331,197 8,142,737
30 Total liabilities and net assets/fund balances (see instructions). 10,435,633 8,142,737
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
10,331,197
2
Enter amount from Part I, line 27a .....................
2
-2,188,646
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
186
4
Add lines 1, 2, and 3 ..........................
4
8,142,737
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
8,142,737
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b PUBLICLY TRADED SECURITIES P    
c CAPITAL GAINS DIVIDENDS P    
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 3,411,327   3,318,042 93,285
b 7,204,776   5,887,086 1,317,690
c 29     29
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       93,285
b       1,317,690
c       29
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 1,411,004
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 22,170
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 22,170
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 22,170
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 21,973
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 23,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 44,973
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 6
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 22,797
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow22,797 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the 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 arrowDC
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 arrowWWW.AGUAFUND.ORG
14
The books are in care ofright arrowBESSEMER TRUST Telephone no.right arrow (516) 508-9623

Located atright arrow1225 FRANKLIN AVE SUITE 500GARDEN CITYNY ZIP+4right arrow11530
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
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
CATHERINE M CONOVER DIRECTOR
2.00 		0 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
LINDA LOCKE TREASURER
6.00 		0 0 0
C/O QUERCUS203 MILLDALE HOLLOW ROAD
FRONT ROYAL,VA22630
ANN MILLS PRESIDENT
40.00 		216,835 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
JOY A HORWITZ ESQ CHAIR & DIRECTOR
2.50 		0 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
MEGAN GALLAGHER DIRECTOR
2.50 		0 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
MOSHE Z PASTERNAK SECRETARY
40.00 		69,313 0 0
C/O QUERCUS203 MILLDALE HOLLOW ROAD
FRONT ROYAL,VA22630
KENYON FIELDS DIRECTOR
2.50 		0 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
EMILY FRANCIS DIRECTOR
2.50 		0 0 0
C/O AGUA FD 203 MILLDALE HOLLOW
ROAD
FRONT ROYAL,VA22630
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
QUERCUS LLC OPERATIONAL & PROFESSIONAL 453,913
C/O 203 MILLDALE HOLLOW ROAD
FRONT ROYAL,VA22630
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
9,001,001
b
Average of monthly cash balances.......................
1b
1,363,213
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
10,364,214
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
10,364,214
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
155,463
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
10,208,751
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
510,438
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
510,438
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
22,170
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
22,170
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
488,268
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
488,268
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
488,268
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
3,767,934
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,767,934
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 7 488,268
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 2,359,039
b From 2020...... 2,611,507
c From 2021...... 2,517,316
d From 2022...... 3,205,479
e From 2023...... 3,274,129
f Total of lines 3a through e ........ 13,967,470
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 3,767,934
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 488,268
e Remaining amount distributed out of corpus 3,279,666
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 17,247,136
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		2,359,039
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		14,888,097
10 Analysis of line 9:
a Excess from 2020.... 2,611,507
b Excess from 2021.... 2,517,316
c Excess from 2022.... 3,205,479
d Excess from 2023.... 3,274,129
e Excess from 2024.... 3,279,666
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).)
CATHERINE M CONOVER
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ALL VOTING IS LOCAL

11 DUPONT CIRCLE NW SUITE 575
WASHINGTON,DC20036 		NONE EXEMPT TO SUPPORT VOTING RIGHTS IN PENNSYLVANIA 40,000

ALLIANCE FOR THE SHENANDOAH VALLEY

PO BOX 674
NEW MARKET,VA22844 		NONE EXEMPT FOR GENERAL SUPPORT 150,000

ANACOSTIA WATERSHED SOCIETY

4302 BALTIMORE AVENUE
BLADENSBURG,MD20710 		NONE EXEMPT FOR GENERAL SUPPORT 15,000

ARCADIA

9000 RICHMOND HIGHWAY
ALEXANDRIA,VA22309 		NONE EXEMPT TO SUPPORT THE MID-ATLANTIC FOOD RESILIENCE ACCESS COALITION 30,000

ARIZONA STATE UNIVERSITY

PO BOX 2260
TEMPE,AZ85280 		NONE EXEMPT TO SUPPORT THE SWETTE CENTER 30,000

BARNSTABLE CLEAN WATER COALITION

PO BOX 215
OSTERVILLE,MA026550215 		NONE EXEMPT FOR GENERAL SUPPORT 25,000

BAY JOURNAL MEDIA

PO BOX 300
MAYO,MD21106 		NONE EXEMPT TO SUPPORT A REPORTING FELLOWSHIP 10,000

BLUE RIDGE AREA FOOD BANK

PO BOX 937 / 96 LAUREL HILL ROAD
VERONA,VA24482 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

CAPITOL HILL VILLAGE

155 E STREET SE
WASHINGTON,DC20003 		NONE EXEMPT TO SUPPORT THE GENDERSON FUND 15,000

CASCADIA RESEARCH COLLECTIVE

218 1/2 W 4TH AVE
OLYMPIA,WA98501 		NONE EXEMPT TO SUPPORT RESEARCH IN HAWAII 20,000

CHESAPEAKE BAY TRUST

5225 CONNECTICUT AVENUE NW SUITE
414
WASHINGTON,DC20015 		NONE EXEMPT TO SUPPORT THE REGIONAL CAPACITY BUILDING INITIATIVE AND THE MID-ATLANTIC ENVIRONMENTAL JUSTICE FUND 50,000

CHRIST CHURCH MILLWOOD

PO BOX 153 / 843 BISHOP MEADE ROAD
MILLWOOD,VA22646 		NONE EXEMPT TO SUPPORT THE FOOD PANTRY 20,000

COLORADO WEST LAND TRUST

1006 MAIN STREET
GRAND JUNCTION,CO81501 		NONE EXEMPT FOR GENERAL SUPPORT 35,000

COMMITTEE OF 70

123 SOUTH BROAD STREET SUITE 1800
PHILADELPHIA,PA19109 		NONE EXEMPT FOR GENERAL SUPPORT 40,000

DC APPLESEED

1111 14TH STREET NW SUITE 510
WASHINGTON,DC20005 		NONE EXEMPT FOR GENERAL SUPPORT 35,000

DC ARTS AND HUMANITIES EDUCATION COLLABORATIVE

1001 G STREET NW SUITE 100W
WASHINGTON,DC20001 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

DC CENTRAL KITCHEN

2121 FIRST STREET SW
WASHINGTON,DC20024 		NONE EXEMPT TO SUPPORT MEAL DELIVERY FOR SENIORS 8,000

DC GREENS

810 7TH STREET NE
WASHINGTON,DC20002 		NONE EXEMPT FOR GENERAL SUPPORT 15,000

DC HUNGER SOLUTIONS

1200 18TH STREET NW SUITE 400
WASHINGTON,DC20036 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

DEFENSORES DE LA CUENCA

3013 PARKWAY
CHEVERLY,MD20785 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

DREAMING OUT LOUD

80 M STREET SE C/O WEWORK
WASHINGTON,DC20003 		NONE EXEMPT FOR GENERAL SUPPORT 35,000

EVERYMIND

1000 TWINBROOK PARKWAY
ROCKVILLE,MD20851 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

FIRST NATIONS DEVELOPMENT INSTITUTE

2432 MAIN ST 2ND FLOOR
LONGMONT,CO80501 		NONE EXEMPT FOR GENERAL SUPPORT 60,000

FOOD & FRIENDS

219 RIGGS ROAD NE
WASHINGTON,DC20011 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

FOODSHED CAPITAL

101 DEVON ROAD
CHARLOTTESVILLE,VA22903 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

FRIENDS OF ANACOSTIA PARK

600 PENNSYLVANIA AVENUE SE UNIT
15178
WASHINGTON,DC20003 		NONE EXEMPT FOR GENERAL SUPPORT AND TO SUPPORT THE THERAPEUTIC STEWARDSHIP PILOT 43,500

HELPAGE USA

2519 CONNECTICUT AVENUE NW
WASHINGTON,DC20008 		NONE EXEMPT TO SUPPORT FRIENDSHIP BENCH IN DC 5,000

HOPI FOUNDATION

PO BOX 301
KYKOTSMOVI,AZ86039 		NONE EXEMPT FOR GENERAL SUPPORT 10,000

INDIGENOUS CONSERVATION COUNCIL OF THE CHESAPEAKE BAY

1520 BELLE VIEW BOULEVARD UNIT 5224
ALEXANDRIA,VA22307 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

INTERTRIBAL AGRICULTURE COUNCIL

PO BOX 958
BILLINGS,MT59103 		NONE EXEMPT FOR GENERAL SUPPORT 55,000

IONA SENIOR SERVICES

4125 ALBEMARLE STREET NW
WASHINGTON,DC20016 		NONE EXEMPT FOR GENERAL SUPPORT AND FOR THE LONG TERM CARE COALITION 70,000

KINGDOM CARE SENIOR VILLAGE

814 ALABAMA AVE SE
WASHINGTON,DC20032 		NONE EXEMPT FOR GENERAL SUPPORT 15,000

LAWYERS COMMITTEE FOR CIVIL RIGHTS UNDER LAW

1401 NEW YORK AVENUE NW SUITE 400
WASHINGTON,DC20005 		NONE EXEMPT FOR GENERAL SUPPORT 40,000

LEAGUE OF CONSERVATION VOTERS EDUCATION FUND

1920 L STREET NW SUITE 800
WASHINGTON,DC20036 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

LEGAL COUNSEL FOR THE ELDERLY

601 E STREET NW
WASHINGTON,DC20049 		NONE EXEMPT FOR GENERAL SUPPORT 60,000

MA KA HANA KA IKE

PO BOX 968
HANA,HI96713 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

MAKE THE ROAD PENNSYLVANIA

PO BOX 73
BRENTWOOD,NY11717 		NONE EXEMPT FOR GENERAL SUPPORT 40,000

MINORITY AND VETERAN FARMERS OF THE PIEDMONT

PO BOX 192
BRANDY STATION,VA22714 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

NAKASEC

4300 N CALIFORNIA AVE
CHICAGO,IL60618 		NONE EXEMPT FOR THE HAMKAE CENTER 30,000

NATIONAL CONGRESS OF AMERICAN INDIANS

1516 P ST NW
WASHINGTON,DC20005 		NONE EXEMPT FOR GENERAL SUPPORT 60,000

NATIONAL MARINE SANCTUARY FOUNDATION

8455 COLESVILLE ROAD
SILVER SPRING,MD20910 		NONE EXEMPT FOR SHEARWATER TAGGING AND RESEARCH 25,000

NATIONAL SUSTAINABLE AGRICULTURE COALITION

110 MARYLAND AVENUE NE SUITE 209
WASHINGTON,DC20002 		NONE EXEMPT FOR GENERAL SUPPORT 55,000

NATIONAL WILDLIFE FEDERATION

706 GIDDINGS AVENUE SUITE 2C
ANNAPOLIS,MD21401 		NONE EXEMPT FOR GENERAL SUPPORT FOR THE CHOOSE CLEAN WATER COALITION 115,000

NATIVE AMERICAN VOTING RIGHTS FUND

1506 BROADWAY
BOULDER,CO80302 		NONE EXEMPT FOR GENERAL SUPPORT 75,000

NEW VIRGINIA MAJORITY

3801 MT VERNON AVENUE
ALEXANDRIA,VA22305 		NONE EXEMPT FOR GENERAL SUPPORT 75,000

PENNSYLVANIA VOICE

123 SOUTH BROAD STREET
PHILADELPHIA,PA19109 		NONE EXEMPT FOR GENERAL SUPPORT 95,000

PHOENIX PROJECT

PO BOX 1747
FRONT ROYAL,VA22630 		NONE EXEMPT FOR GENERAL SUPPORT 25,000

PIEDMONT ENVIRONMENTAL COUNCIL

PO BOX 460
WARRENTON,VA22186 		NONE EXEMPT FOR GENERAL SUPPORT 150,000

POLICYLINK

1438 WEBSTER ST STE 303
OAKLAND,CA94612 		NONE EXEMPT CIVIC ENGAGEMENT FOR EQUITABLE WATER INFRASTRUCTURE INVESTMENT 80,000

POTOMAC CONSERVANCY

210 SOUTH BRADDOCK STREET
WINCHESTER,VA22601 		NONE EXEMPT FOR GENERAL SUPPORT 55,000

POTOMAC RIVER KEEPER NETWORK

1615 M STREET NW 2ND FLOOR
WASHINGTON,DC20035 		NONE EXEMPT FOR GENERAL SUPPORT AND GYBE SATELITE MONITORING 106,000

PROGRESS VIRGINIA

PO BOX 664
EARLSVILLE,VA22936 		NONE EXEMPT FOR GENERAL SUPPORT 40,000

RECTORS AND VISITORS OF THE UNIVERSITY OF VIRGINIA

1826 UNIVERSITY AVENUE NORTHWEST
WING THE ROTUNDA
CHARLOTTESVILLE,VA22903 		NONE EXEMPT TO SUPPORT THE RAFT'S TRIBAL WORK 20,000

RIVER NETWORK

PO BOX 21387
BOULDER,CO80308 		NONE EXEMPT FOR GENERAL SUPPORT AND THEIR EXECUTIVE DIRECTOR SUPPORT COHORT 35,000

RURAL UTAH PROJECT EDUCATION FUND STEWARSHIP UTAH

68 E 2700 S
SOUTH SALT LAKE,UT84115 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

SEABURY RESOURCES FOR THE AGING

6031 KANSAS AVENUE NW
WASHINGTON,DC20011 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

SOUTHERN ENVIRONMENTAL LAW CENTER

201 W MAIN STREET SUITE 14
CHARLOTTESVILLE,VA22902 		EMILY FRANCIS IS AN EMPLOYEE AND SERVES AS AN AGUA BOARD EXEMPT FOR GENERAL SUPPORT 100,000

SUSTAINABLE AGRICULTURE AND FOOD SYSTEMS FUNDERS

133 EAST DE LA GUERRA 306
SANTA BARBARA,CA93101 		ANN MILLS SERVES ON THE BOARD OF SAFSF WHICH SERVES AS T EXEMPT TO SUPPORT VIRGINIA SOIL HEALTH COALITION 20,000

THE CENTER FOR MIND-BODY MEDICINE

5225 CONNECTICUT AVE NW STE 414
WASHINGTON,DC20015 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

THE LAUREL CENTER

PO BOX 14
WINCHESTER,VA22604 		NONE EXEMPT FOR GENERAL SUPPORT 25,000

THE OCEAN FOUNDATION

1320 19TH ST NW
WASHINGTON,DC20036 		NONE EXEMPT TO SUPPORT THE REDESIGNING PLASTICS INITIATIVE 30,000

THRIVE DC

309 E STREET NW
WASHINGTON,DC20001 		NONE EXEMPT FOR GENERAL SUPPORT 20,000

TIDES FOUNDATIONMOVEMENT VOTER FUND

PO BOX 399389
SAN FRANCISCO,CA94139 		NONE EXEMPT FOR GENERAL SUPPORT 80,000

UNIVERSITY OF ARKANSAS

534 W RESEARCH CENTER BOULEVARD
SUITE 219
FAYETTEVILLE,AR72701 		NONE EXEMPT FOR INDIGENOUS FOOD AND AGRICULTURE INITIATIVE 40,000

VA LEAGUE OF CONSERVATION VOTERS EDUCATION FUND

100 WEST FRANKLIN STREET SUITE 102
RICHMOND,VA23220 		NONE EXEMPT FOR GENERAL SUPPORT 30,000

VIRGINIA CONSERVATION NETWORK

409 EAST MAIN STREET SUITE 201
RICHMOND,VA23219 		NONE EXEMPT FOR GENERAL SUPPORT AND FOR THE SOLAR SITING CONVENING 62,500

VIRGINIA ORGANIZING

703 CONCORD AVENUE
CHARLOTTESVILLE,VA22903 		NONE EXEMPT FOR GENERAL SUPPORT 60,000

VIRGINIA STATE UNIVERSITY

PO BOX 9081
PETERSBURG,VA23806 		NONE EXEMPT TO SUPPORT THE SMALL FARM OUTREACH PROGRAM 30,000

VIRGINIA TECH SOIL HEALTH INITIATIVE

2322 BLUE STONE HILLS DRIVE SUITE
140
HARRISONBURG,VA22801 		NONE EXEMPT TO SUPPORT THE 4 THE SOIL CAMPAIGN 30,000

VIRGINIA UNITED LAND TRUSTS

4022-A HUMMER ROAD
ANNANDALE,VA22003 		NONE EXEMPT FOR GENERAL SUPPORT 35,000

WASHINGTON HOSPITAL CENTER

110 IRVING ST NW EB-101
WASHINGTON,DC20010 		NONE EXEMPT TO SUPPORT MEDSTAR HOUSE CALL PROGRAM 40,000

WE ARE FAMILY

1525 NEWTON STREET NW
WASHINGTON,DC20010 		NONE EXEMPT FOR GENERAL SUPPORT 15,000

WESTERN COLORADO ALLIANCE

PO BOX 1931
GRAND JUNCTION,CO81502 		NONE EXEMPT FOR GENERAL SUPPORT 60,000

WILD VIRGINIA

PO BOX 1065 / 108 FIFTH STREET SE
ROOM 206
CHARLOTTESVILLE,VA22902 		NONE EXEMPT FOR GENERAL SUPPORT 50,000
Total .................................right arrow 3a 3,070,000
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 ........... 		         
4 Dividends and interest from securities ....     14 218,785  
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 1,411,004  
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 1,629,789 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,629,789
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 4,400 0   4,400

TY 2024 GeneralExplanationAttachment
Name:
AGUA FUNDINC
EIN:
11-3659697
Identifier Return Reference Explanation
LIST OF OFFICERS, DIRECTORS, TRUSTEES, AND FOUNDATION MANAGERS FORM 990-PF, PART VII COMPENSATION IS PAID THROUGH QUERCUS LLC WHICH HANDLES MANAGEMENT ANDADMINISTRATION FOR THE AGUA FUND.
GRANTS AND CONTRIBUTIONS PAID DURING THE YEAR FORM 990-PF, PART XIV THE CONFLICT OF INTEREST PROCEDURE WAS FOLLOWED FOR GRANTS AND CONTRIBUTIONS MADE TO SOUTHERN ENVIRONMENTAL LAW CENTER AND SUSTAINABLE AGRICULTURE AND FOOD SYSTEMS FUNDERS.

TY 2024 InvestmentsCorpBondsSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Name of Bond End of Year Book Value End of Year Fair Market Value
35000.00 TEXAS INSTRUMENTS INC 29,570 29,951
35000.00 TRUIST FINANCIAL CORP 33,103 33,563
36000.00 COREBRIDGE FINANCIAL INC 36,569 36,669
35000.00 DTE ENERGY CO 35,439 35,135
30000.00 PACIFIC GAS & ELECTRIC 30,294 30,486
35000.00 FIFTH THIRD BANCORP 36,894 36,297
22000.00 JPMORGAN CHASE & CO 21,830 21,417
30000.00 US BANCORP 30,000 24,355
35000.00 MICROCHIP TECHNOLOGY INC 35,021 34,880
35000.00 MARSH & MCLENNAN COS INC 34,850 34,575
35000.00 MORGAN STANLEY 36,785 34,820
35000.00 AMERICAN TOWER CORP 34,867 34,792
40000.00 CITIGROUP INC 39,237 38,726
35000.00 GOLDMAN SACHS GROUP INC 34,975 34,283
35000.00 HUNTINGTON BANCSHARES 35,044 35,002
35000.00 LABORATORY CORP OF AMER 34,794 33,474
35000.00 GEORGIA POWER CO 34,961 34,431
30000.00 CHARLES SCHWAB CORP 30,093 27,491
35000.00 CAPITAL ONE FINANCIAL CO 35,000 36,152
28000.00 PUBLIC SERVICE ENTERPRIS 28,526 28,881
25000.00 BROADCOM INC 25,002 25,093
35000.00 KLA CORP 35,029 33,972
30000.00 SOUTHWEST AIRLINES CO 29,862 30,156
30000.00 PUBLIC STORAGE 30,001 27,362
35000.00 HCA INC 34,134 35,139
30000.00 PAYPAL HOLDINGS INC 25,705 27,413
21000.00 JPMORGAN CHASE & CO 21,108 19,070
35000.00 WELLS FARGO & COMPANY 35,924 35,569
33000.00 SOUTHERN CAL EDISON 33,052 33,782
30000.00 MARRIOTT INTERNATIONAL 26,290 26,464
30000.00 AIR LEASE CORP 29,724 30,757
30000.00 CISCO SYSTEMS INC 30,140 30,099
35000.00 L3HARRIS TECH INC 35,009 35,046
24000.00 TOYOTA MOTOR CREDIT CORP 24,568 24,365
36000.00 ELEVANCE HEALTH INC 36,433 35,660
30000.00 AMERICAN EXPRESS CO 30,023 30,371
35000.00 PFIZER INVESTMENT ENTER 34,958 34,693
30000.00 SUMITOMO MITSUI FINL GRP 30,009 29,087
52000.00 US TREASURY BILLS 49,762 49,762
77000.00 US TREASURY N/B 76,339 76,211
35000.00 US TREASURY N/B 34,965 34,924
35000.00 US TREASURY N/B 34,736 34,636
606000.00 US TREASURY N/B 609,124 586,920
301000.00 US TREASURY N/B 300,203 288,489
64000.00 US TREASURY NOTES 63,279 62,902
49000.00 US TREASURY N/B 49,284 46,940
29000.00 US TREASURY N/B 28,946 29,227
164000.00 US TREASURY NOTES 175,199 167,690
77000.00 US TREASURY NOTES 71,079 70,791
27000.00 US TREASURY BONDS 24,416 24,084
113000.00 US TREASURY N/B 114,851 113,308
62000.00 US TREASURY NOTES 61,522 58,667
48000.00 US TREASURY NOTES 47,857 47,996
275000.00 US TREASURY NOTES 272,136 273,130
11000.00 US TREASURY NOTES 11,094 10,966
77000.00 US TREASURY NOTES 76,825 77,478
87345.05 TSY INFL IX N/B 82,384 85,117
50000.00 US TREASURY N/B 50,105 50,419
89000.00 US TREASURY N/B 71,812 62,327

TY 2024 InvestmentsCorpStockSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Name of Stock End of Year Book Value End of Year Fair Market Value
270.00 ALPHABET INC CLASS C 33,726 51,418
106.00 META PLATFORMS INC 20,629 62,064
150.00 LOWES COS INC 29,450 37,020
10.00 BOOKING HLDGS INC 34,842 49,684
350.00 AMAZON.COM INC 46,923 76,786
540.00 CHIPOTLE MEXICAN GRILL 16,195 32,562
33.00 O'REILLY AUTO INC NEW 22,550 39,131
55.00 COSTCO WHSL CORP NEW 29,760 50,394
295.00 JPMORGAN CHASE & CO 38,996 70,714
152.00 FISERV INC 14,973 31,223
88.00 BLACKSTONE INC 8,074 15,172
1645.00 ING GROEP NV 22,897 25,856
64.00 GALLAGER ARTHUR J & CO 11,130 18,166
91.00 MASTERCARD CL A 31,369 47,917
305.00 LONDON STOCK EXCHANGE 30,196 43,082
300.00 ASTRAZENECA PLC 38,152 39,308
135.00 DANAHER CORP 31,451 30,989
170.00 CSL 33,617 29,612
55.00 UNITEDHEALTH GROUP INC 27,624 27,822
107.00 CENCORA INC 17,016 24,040
53.00 ICON PLC 13,527 11,114
36.00 UNITED RENTALS INC 12,115 25,359
60.00 QUANTA SERVICES INC 7,119 18,963
455.00 APPLE INC 70,655 113,941
740.00 NVIDIA CORP 14,779 99,374
253.00 ORACLE CORP 17,106 42,159
257.00 MICROSOFT CORP 70,590 108,325
68.00 CADENCE DESIGN SYSTEMS INC 10,367 20,431
33.00 ASML HOLDING 20,537 23,268
203.00 BROADCOM INC 32,435 47,063
57.00 META PLATFORMS INC 11,016 33,374
90.00 TAKE-2 INTERACTIVE 11,057 16,567
240.00 ALPHABET INC CLASS C 15,231 45,705
700.00 ALPHABET INC. CLASS A 19,029 132,510
50.00 HILTON WORLDWIDE HOLDINGS 4,788 12,358
214.00 AMAZON.COM INC 3,123 46,949
2.00 AUTOZONE INC 5,048 6,404
4.00 MERCADOLIBRE INC 3,264 6,801
40.00 LOWES COS INC 7,976 9,872
11.00 COSTCO WHSL CORP NEW 5,439 10,078
135.00 INTERCONTINENTAL EXCHG INC 17,129 20,116
100.00 JPMORGAN CHASE & CO 13,935 23,971
110.00 VISA INC 8,663 34,764
200.00 BROOKFIELD CORPORATION 7,619 11,490
17.00 S&P GLOBAL INC. 4,444 8,466
30.00 THERMO FISHER SCIENTIFIC 9,992 15,606
61.00 DANAHER CORP 10,730 14,002
55.00 CENCORA INC 9,584 12,357
52.00 UNITEDHEALTH GROUP INC 16,131 26,304
125.00 HOWMET AEROSPACE INC 4,630 13,671
120.00 COPART INC 3,302 6,886
200.00 TRANSUNION 13,364 18,542
165.00 ASHTEAD GROUP 10,811 10,254
22.00 EATON CORP PLC 3,124 7,301
400.00 NVIDIA CORP 9,612 53,716
140.00 FORTINET INC 9,829 13,227
145.00 MARVELL TECHNOLOGY INC 8,023 16,015
65.00 BROADCOM INC 10,433 15,069
35.00 GARTNER INC CL A 15,411 16,956
211.00 APPLE INC 3,836 52,838
11.00 ASML HOLDING 4,933 7,756
41.00 MOTOROLA SOLUTIONS INC 9,787 18,951
135.00 MICROSOFT CORP 5,003 56,902
6.00 CONSTELLATION SOFTWARE 16,153 18,529
100.00 CRH PLC 6,904 9,252
35.00 PROLOGIS INC 4,387 3,699
130.00 AMEREN CORP 8,829 11,588

TY 2024 InvestmentsOtherSchedule2
Name:
AGUA FUNDINC
EIN:
11-3659697
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
IROQUOIS VALLEY FARMLAND REIT AT COST 359,116 597,114

TY 2024 LegalFeesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 2,810 0   2,810


TY 2024 OtherExpensesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ASSOCIATION & AFFINITY DUES 24,950 0   24,950
EDUCATION/MEMBERSHIP 700 0   700
MEALS & ENTERTAINMENT 2,308 0   2,308
OFFICE EXPENSE 1,764 0   1,764
BOARD EXPENSE 2,526 0   2,526
TELEPHONE/INTERNET 2,138 0   2,138
BOOKS & SUBSCRIPTION 3,778 0   3,778
COMMUNICATION EXPENSE 320 0   320


TY 2024 OtherIncreasesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Description Amount
TRUNCATION 186


TY 2024 OtherProfessionalFeesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INSURANCE FEES 1,927 0   1,927
INVESTMENT FEES 33,986 33,986   0
PROFESSIONAL FEES 638,496 0   638,496


TY 2024 TaxesSchedule
Name:
AGUA FUNDINC
EIN:
11-3659697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES PAID 15,500 0   0
FOREIGN TAXES PAID 819 819   0
FOREIGN TAX WITHHELD IN EXCESS 196 0   0