TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2024

Open to Public Inspection

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

Name of foundation
Ortega Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

65-0014714

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here right arrow

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

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

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

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

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

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

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

$43,118,579J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments	60,779		60,779
4	Dividends and interest from securities...	878,287		878,287
5a	Gross rents............	188,458		188,458
b	Net rental income or (loss) 170,874
6a	Net gain or (loss) from sale of assets not on line 10		1,766,491
b	Gross sales price for all assets on line 6a 15,451,518
7	Capital gain net income (from Part IV, line 2)...			1,766,491
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	16,549	14,314
12	Total. Add lines 1 through 11........	2,910,564		2,908,329
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	189,135	189,135
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	70,898	32,898
19	Depreciation (attach schedule) and depletion...				0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	31,719	6,719		25,000
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	291,752		228,752	0	25,000
25	Contributions, gifts, grants paid.......	2,003,500				2,003,500
26	Total expenses and disbursements. Add lines 24 and 25	2,295,252		228,752	0	2,028,500
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	615,312
b	Net investment income (if negative, enter -0-)			2,679,577
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	2,198,572	1,630,463	1,630,463
	3	Accounts receivable 6,592
		Less: allowance for doubtful accounts	2,821	6,592	6,592
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule) 170,000
		Less: allowance for doubtful accounts	230,000	List of Attached Documents: // Content 170,000	170,000
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	9,717,038	List of Attached Documents: // Content 10,505,350	10,398,555
	b	Investments—corporate stock (attach schedule).......	18,063,547	List of Attached Documents: // Content 18,225,501	22,127,838
	c	Investments—corporate bonds (attach schedule).......	3,961,920	List of Attached Documents: // Content 4,251,304	4,346,131
	11	Investments—land, buildings, and equipment: basis 4,056,864
		Less: accumulated depreciation (attach schedule)	4,056,864	List of Attached Documents: // Content 4,056,864	4,439,000
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	38,230,762	38,846,074	43,118,579
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	38,230,762	38,846,074
	29	Total net assets or fund balances (see instructions).....	38,230,762	38,846,074
	30	Total liabilities and net assets/fund balances (see instructions).	38,230,762	38,846,074

Part III

Analysis of Changes in Net Assets or Fund Balances

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

38,230,762

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

615,312

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

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

38,846,074

Decreases not included in line 2 (itemize) right arrow

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

38,846,074

Form 990-PF (2024)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	15,451,518	13,685,027	1,766,491
b
c
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			1,766,491
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	1,766,491
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	37,246
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	37,246
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	37,246
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	35,128
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	2,200
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	37,328
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	16
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	66
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax66	Refunded	11

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. right arrow

$ (2) On foundation managers. right arrow

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

on foundation managers. right arrow

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

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

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

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

advisory privileges? If "Yes," attach statement. See instructions Click to see attachment

List of Attached Documents:

// Content

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

Yes

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

Yes

Website address right arrow

The books are in care of right arrow

Foundation Source Telephone no. right arrow

(800) 839-1754

Located at right arrow

501 Silverside Road Suite 123WilmingtonDE ZIP+4 right arrow

198091377

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

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

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

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

16 No

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

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

Yes

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Maria Elena Wollberg	Trustee 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	0	0	0

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


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










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

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
Arazoza Group Merrill Lynch	Investment MGMT	189,135
355 Alhambra Circle Penthouse CORAL GABLES,FL331344527	Investment MGMT	189,135

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

Part VIII-A

Summary of Direct Charitable Activities

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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2024)

Page 8

Part IX

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

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

purposes:

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

37,112,679

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

2,151,313

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

4,609,000

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

43,872,992

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

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

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

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

43,872,992

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

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

658,095

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

43,214,897

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

2,160,745

Part X

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

and do not complete this part.)

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

2,160,745

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

37,246

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

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

37,246

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

2,123,499

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

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

2,123,499

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

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

2,123,499

Part XI

Qualifying Distributions (see instructions)

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

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

2,028,500

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

2,028,500

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7				2,123,499
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......			1,839,891
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2024:
a From 2019......
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........
4Qualifying distributions for 2024 from Part
XI, line 4: $ 2,028,500
a Applied to 2023, but not more than line 2a			1,839,891
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2024 distributable amount.....				188,609
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2024.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........				1,934,890
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2019 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....	0

Form 990-PF (2024)

Page 10

Part XIII

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

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

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

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

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

Part XIV

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

1Information Regarding Foundation Managers:

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

NONE

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2024)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
J Gonzalez Florida International University 11200 SW 8TH ST PC-120 MIAMI,FL33199	NONE	I	Scholarship Grant	3,500
THE MIAMI FOUNDATION INC 40 NW 3RD ST STE 305 MIAMI,FL33128	N/A	PC	General & Unrestricted	2,000,000
Total ................................. 3a				2,003,500

bApproved for future payment

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

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	60,779
4 Dividends and interest from securities ....			14	878,287
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	170,874
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	1,766,491
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aCORPORATE ACTION DISTRIBUTION			01	3,683
bFederal Tax Refund			01	2,235
cINTEREST INCOME FROM NOTE RECEIVABLE			14	10,631
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				2,892,980

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

2,892,980

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2024)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2024 DepreciationSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included
LAND - 1660 & 1690	2016-07-06	3,426,864		L				0
LAND - 6222 CLARCO	2009-09-19	630,000		L				0

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC NOTE CALL MAKE WHOL	290,480	302,516
BANK NOVA SCOTIA B CNOTE CALL	225,780	244,902
CAPITAL ONE FINL CORP - 6.312%	169,553	177,640
CVS HEALTH CORP - 5.700% - 06/	176,584	171,074
GOLDMAN SACHS GROUP INC - 3.85	172,731	180,574
HCA INC - 3.625% - 03/15/2032	172,651	175,402
HELMERICH PAYNE - 5.000% - 10/	92,742	89,449
HOME DEPOT INC - 4.950% - 06/2	88,432	86,880
JPMORGAN CHASE - 2.595% - 02/2	293,965	305,952
KROGER CO - 5.000% - 09/15/203	185,540	177,031
MICRON TECHNOLOGY INC NOTE - 6	110,128	109,693
MORGAN STANLEY - 5.320% - 07/1	176,619	174,162
PARKER-HANNIFIN CORP NOTE - 4.	183,127	188,966
SCHWAB CHERLES NOTE - 6.136% -	106,958	110,314
SHIRE ACQUISITIONS - 3.200% -	120,112	121,185
TRUIST FINL CORP - 1.200% - 08	428,155	462,504
UNIFORM MBS POOL #MA4465 - 2.0	108,149	105,794
UNIFORM MBS POOL - 2.500% - 05	27,207	26,663
UNIFORM MBS POOL - 5.500% - 07	506,745	513,795
UNITEDHEALTH GROUP - 4.500% -	146,619	142,300
US TREASURY NOTE - 1.250% - 05	181,057	180,602
WELLS FARGO - 4.300% - 07/22/2	287,970	298,733

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	52,303	66,815
ACCENTURE PLC	66,853	78,449
ADIDAS AG	78,372	74,767
ADVANCED MICRO DEVICES INC	113,931	107,745
AIR PRODS & CHEM INC	242,985	251,755
AKAMAI TECH COM STK	22,243	24,391
ALBANY INTERNATIONAL CORP	15,814	14,874
ALBEMARLE CP	48,501	16,097
ALLEGION PLC	48,301	51,227
ALPHABET INC CL A	120,574	312,534
ALPHABET INC CL C	12,339	40,945
AMAZON COM	253,375	460,279
AMER INTERNATIONAL GROUP INC	55,472	136,791
AMERICAN ELECTRIC POWER INC	38,222	41,965
AMETEK INC	32,574	36,413
ANSYS INC	19,747	28,336
APPLE INC	174,358	382,891
APPLIED MATERIALS INC	42,776	40,495
ARCHROCK INC	13,214	46,918
ARROW ELECTRONICS INC	20,220	23,303
ASML HOLDING NV NY REG SHS	72,104	75,546
ASSURANT INC	17,909	28,571
ASTERA LABS, INC	34,157	36,026
ASTRAZENECA	236,172	233,972
AT&T, INC	46,877	56,242
BAE SYSTEMS PLC	29,861	32,467
BAKER HUGHES COMPANY	73,082	94,961
BANCO BILBAO ARG SA	51,670	51,623
BARCLAYS PLC ADR	106,096	109,908
BAXTER INTERNATIONAL INC	202,380	132,824
BEIERSDORF AG ADR EACH REPR 0.	131,633	135,082
BERKSHIRE HATHAWAY INC. CLASS	66,401	164,994
BIO RAD LABS INC CL A	34,522	28,909
BORG WARNER INC	20,450	20,664
BOSTON PPTYS INC	24,578	26,249
BOX INC	25,932	30,747
BP PLC SPONSORED ADR	193,474	174,374
BRITISH AMERICAN TOBACCO PLC	108,631	114,916
BROADCOM INC	168,005	218,625
CABOT CP	18,880	25,384
CADENCE DESIGN SYSTEMS INC	104,742	118,982
CANADIAN NATL RAILWAY CO	155,758	138,257
CANADIAN PACIFIC RAILWAY LTD	153,792	136,996
CARDINAL HEALTH INC	264,905	343,338
CBRE GROUP	23,920	49,496
CENTENE CORP	27,112	22,718
CF INDUSTRIES HOLDINGS, INC	47,430	39,162
CHARLES RIV LABORATORIES INTL	31,013	27,505
CHARLES SCHWAB CORP	34,708	40,187
CIENA CORP	139,218	231,786
CIGNA CORPORATION	50,204	64,893
CIRRUS LOGIC INC	18,697	25,791
CISCO SYSTEMS INC	88,875	114,315
CITIGROUP INC	176,564	251,785
CITIZENS FINANCIAL GROUP, INC	36,614	50,105
CMS ENERGY CP	38,139	38,657
CNH GLOBAL NV	35,965	33,695
COGNIZANT TECHNOLOGY SOLUTIONS	173,765	222,549
COMCAST CORP	242,418	220,601
COMPAGNIE DE SAINT G	110,084	118,801
CONMED CORPORATION	24,128	19,642
CONOCOPHILLIPS	61,899	69,518
CONSTELLATION BRANDS INC	40,927	35,360
COPT DEFENSE PROPERTIES	15,069	19,220
CORTEVA INC	41,814	79,231
CROWN CASTLE INTL	156,798	142,856
CVS CAREMARK CORP	188,533	146,880
D R HORTON	11,826	22,511
DARDEN RESTAURANTS INC	19,778	28,377
DEUTSCHE TELE AG ADS	130,272	173,608
DIAGEO PLC ADS	99,887	85,431
DIODES	14,743	12,827
DISCOVER FINL SVCS COM	112,872	139,104
DOLLAR GENERAL CORP	151,156	79,763
DOMINION ENERGY INC	39,514	37,917
DUN & BRADSTREET CORP	53,492	57,129
EASTMAN CHEMICAL CO	22,107	25,113
ELECTRONIC ARTS	178,312	191,360
ELEVANCE HEALTH INC	124,989	144,609
ELI LILLY & CO	195,802	217,704
ENTERGY CORP	57,031	77,488
EXELON CORPORATION	68,670	65,155
FIDELITY NATIONAL FINANCIAL IN	116,913	166,287
FIDELITY NATIONAL INFORMATION	107,647	117,359
FIRST CITIZENS BANCSHARES INC	101,144	268,354
FIRSTCASH HOLDINGS INC	14,873	19,788
FORMFACTOR INC.	16,972	24,068
FORTIVE CORPORATION	35,873	38,925
FORTREA HOLDINGS INC	23,383	13,335
FOX CORP CL A	32,387	49,843
GALLAGHER ARTHUR J & CO	20,256	54,783
GATX CORP INC	26,146	44,319
GENERAL ELECTRIC CO	54,696	51,705
GENERAL MOTORS	93,795	146,493
HASBRO INC	74,463	79,672
HESS CORP	173,158	166,396
HEWLETT PACKARD ENTERPRISE CO	41,502	47,013
HEXCEL CP DELAWARE	22,262	25,268
HOLOGIC, INC	26,957	28,908
HOME DEPOT INC	45,610	49,013
HONEYWELL INTL	140,735	150,217
HOULIHAN LOKEY INC	20,207	44,283
HOWMET AEROSPACE ORD SHS	34,628	34,452
HP INC	181,070	163,444
HUBBELL INCORPORATED	45,290	48,591
HUMANA INC	234,811	166,180
HUNTINGTON INGALLS INDUSTRIES	20,741	17,007
INFINEON TECH ADS	93,959	79,389
INSPERITY INC	31,837	20,463
INT'L FLAVORS & FRAGRANCES INC	37,779	41,345
INTERCONTINENTAL EXCHANGE, INC	251,253	325,736
INTERPUBLIC GROUP OF COS	57,182	51,613
INTESA SANPAOLO SPA	52,962	86,312
INTUIT	94,059	90,504
JOHNSON CONTROLS INTERNATIONAL	110,792	129,603
JP MORGAN CHASE	139,937	334,635
JULIUS BAER GROUP LTD	78,092	85,489
KE HOLDINGS INC.	53,786	41,003
KEURIG DR PEPPER INC	53,510	52,934
KIMBERLY CLARK CORP	77,466	70,762
KKR & CO INC	34,042	34,463
KON KPN NV SPON ADR REP 1 ORD	35,246	35,417
KONINKLIJKE PHILIPS ELECTRONIC	52,669	64,819
KRAFT HEINZ CO	177,142	139,454
L'AIR LIQUIDE ADR OTC	95,625	108,650
L3HARRIS TECHNOLOGIES	167,722	170,117
LABCORP HLDGS INC (LABORATORY	97,936	110,303
LEAR CORP	50,296	38,638
LEIDOS HOLDINGS INC	48,933	79,521
LVMH MOET HENN UNSP	254,226	207,405
M&T BANK CORP	32,373	39,670
MARVELL TECHNOLOGY, INC	212,057	328,920
MASTERCARD INC	172,401	221,686
MEDTRONIC PLC	163,046	153,370
META PLATFORMS INC	152,341	355,990
MICRON TECHNOLOGY	95,653	110,081
MICROSOFT CORP	413,580	836,677
MID-AMERICA APT COMMUNITIES IN	38,083	42,043
MIDDLEBY CORPORATION	28,003	27,361
MONOLITHIC POWER SYSTEMS, INC	17,568	24,851
MOODYS CORP	30,196	37,396
MOOG INC CL A	16,646	43,502
MYRIAD GENETICS, INC	17,771	11,859
NEWELL RUBBERMAID INC	57,688	27,988
NINTENDO CO LTD ADR UNSPON	61,120	72,214
NOVO NORDISK A S	246,688	260,297
NVIDIA CORP	151,977	243,468
ON SEMICONDUCTOR	24,456	22,761
ORACLE CORP	32,309	44,826
OTIS WORLDWIDE CORP	200,866	212,633
PAPA JOHNS INTL INC	35,507	20,864
PENN NATIONAL GAMING	14,244	10,663
PFIZER INC	35,056	31,438
PG & E CORP	67,527	80,821
PHILIP MORRIS INTL	41,682	52,593
PPG INDUSTRIES INC	67,223	59,008
QIAGEN NV	26,234	25,471
RAYMOND JAMES FINANCIAL INC	24,724	41,473
RAYTHEON TECHNOLOGIES CORP	147,669	211,536
RECRUIT HOLDINGS CO	90,333	190,718
REDDIT, INC	66,440	71,260
REINSURANCE GROUP AMER INC	71,019	128,819
RELX PLC	198,369	225,374
REPUBLIC SVCS INC	39,742	54,117
RYDER SYSTEM	20,830	40,627
S&P GLOBAL INC COM	73,604	70,222
SALESFORCE.COM	35,849	46,138
SANOFI-AVENTIS SPONSORED ADR	310,981	304,428
SBA COMMUNICATIONS CORP	32,650	25,475
SEALED AIR CORP	126,926	88,026
SEMPRA ENERGY COM	95,012	113,773
SHELL ADR EACH REPRESENTING 2	255,678	257,241
SKECHERS U S A INC CL A	66,045	81,293
SMITH A O CORP DEL COM	24,026	30,831
SNAP ON INC	23,295	37,343
SONOCO PRODUCTS COMPANY	26,368	21,494
SONY GROUP CORP	478,561	578,111
SPDR BARCLAYS CAPITAL 1-3 MONT	192,073	192,094
SS&C TECHNOLOGIES INC	267,740	300,392
STANDARD CHARTERED	58,688	88,273
SUNCOR ENERGY INC	69,048	73,037
TAIWAN SEMICONDUCTOR MFG CO LT	228,084	394,387
TECK RESOURCES LIMITED	104,461	83,735
TELEDYNE TECH INC	28,941	37,595
TELUS CORP	45,620	34,375
TENCENT HOLDINGS LIMITED	146,372	205,753
TENET HEALTHCARE CORP	41,749	92,779
TEXAS INSTRUMENTS INC	64,943	71,441
THE COCA-COLA CO	66,576	57,528
THERMO FISHER SCIENTIFIC INC	95,936	91,040
TKO GROUP HOLDINGS, INC	43,996	99,761
TWODY	104,598	72,278
UBER	66,983	55,736
UBS AG	37,248	36,687
UNION PACIFIC	46,765	47,660
UNITEDHEALTH GROUP INC	86,924	118,371
VALMONT INDUSTRIES INC	23,147	26,067
VERIZON COMMUNICATIONS	102,061	111,052
VISA INC	113,406	139,058
WAL-MART STORES INC	40,067	37,947
WALT DISNEY HOLDINGS CO	40,261	46,544
WEBSTER FINL CORP	23,583	27,003
WEC ENERGY GROUP, INC	22,750	23,886
WELLS FARGO & CO	173,524	311,655
WESTINGHOUSE AIR BRAKE TECHNOL	137,633	163,806
WEX, INC	29,117	24,545
WILLIAMS COS	62,472	105,913
WILLIS TOWERS WATSON	63,582	89,273
WINTRUST FINANCIAL CORPORATION	27,386	24,817
WOODWARD INC	19,034	35,780
ZEBRA TECHNOLOGIES CORP	75,137	117,411
ZOETIS INC	31,167	27,861
ZURICH INS GROU ADR	33,513	41,774

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

Ortega Foundation

EIN:

65-0014714

US Government Securities - End of Year Book Value:

10,505,350

US Government Securities - End of Year Fair Market Value:

10,398,555

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

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

- TIN:

TY 2024 InvestmentsLandSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Category/ Item	Cost/Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND - 1660 & 1690	3,426,864		3,426,864	3,426,864
LAND - 6222 CLARCO	630,000		630,000	630,000

- TIN:

TY 2024 OtherExpensesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	25,000		25,000
Bank Charges	4,863	4,863
Property insurance	1,856	1,856

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

Ortega Foundation

EIN:

65-0014714

Description	Revenue And Expenses Per Books	Net Investment Income
Federal Tax Refund	2,235
Interest Income from Notes	10,631	10,631
Corporate Action Distribution	3,683	3,683

- TIN:

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

TY 2024 OtherNotesLoansRcvblLongSch

Name:

Ortega Foundation

EIN:

65-0014714

Borrower's Name	Relationship to Insider	Original Amount of Loan	Balance Due	Date of Note	Maturity Date	Repayment Terms	Interest Rate	Security Provided by Borrower	Purpose of Loan	Description of Lender Consideration	Consideration FMV
MIYAKO USA INC		850,000	170,000	2012-12	2027-02	MONTHLY PRINCIPAL & INTERREST	525 %	INVENTORY & EQUIPMENT	INVESTMENT	N/A 0

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	189,135	189,135

- TIN:

TY 2024 TaxesSchedule

Name:

Ortega Foundation

EIN:

65-0014714

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2024	35,100
990-PF Extension for 2023	2,900
Foreign Tax Paid	17,171	17,171
Property Taxes	15,727	15,727