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
GARNEAU NICON FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)249 MAIN AVE S SUITE 107PMB 363
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NORTH BEND, WA98045
A Employer identification number

27-5137452
B Telephone number (see instructions)

(206) 503-1046
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$25,869,801J 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) 2,002,362
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,546 1,546  
4 Dividends and interest from securities... 514,041 514,041  
5a Gross rents............ 710,027 710,027  
b Net rental income or (loss) -18,572
6a Net gain or (loss) from sale of assets not on line 10 134,950
b Gross sales price for all assets on line 6a 1,134,950
7 Capital gain net income (from Part IV, line 2)... 134,950
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 3,362,926 1,360,564  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 163,000 81,500   81,500
14 Other employee salaries and wages...... 37,050 17,500   19,550
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
2,100 2,100   0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
24,360 12,180   12,180
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
116,704 114,614   2,090
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
93,383 85,263   8,120
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
128,241 82,759  
20 Occupancy.............. 81,939 68,500   13,440
21 Travel, conferences, and meetings....... 4,880 0   4,880
22 Printing and publications.......... 456 439   17
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
478,485 425,549   52,936
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,130,598 890,404   194,713
25 Contributions, gifts, grants paid....... 696,485 696,485
26 Total expenses and disbursements. Add lines 24 and 25 1,827,083 890,404   891,198
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,535,843
b Net investment income (if negative, enter -0-) 470,160
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............. 253,592 152,468 152,468
2 Savings and temporary cash investments......... 639,448 1,479,621 1,479,621
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,787,493 Click to see attachment
List of Attached Documents:
// Content
2,339,015 		2,516,786
c Investments—corporate bonds (attach schedule)....... 1,907,368 Click to see attachment
List of Attached Documents:
// Content
1,906,874 		1,479,169
11 Investments—land, buildings, and equipment: basis right arrow8,658,508
Less: accumulated depreciation (attach schedule) right arrow235,949 8,505,318 Click to see attachment
List of Attached Documents:
// Content
8,422,559 		10,044,150
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,426,478 Click to see attachment
List of Attached Documents:
// Content
7,762,471 		9,627,968
14 Land, buildings, and equipment: basis right arrow1,764,177
Less: accumulated depreciation (attach schedule) right arrow201,795 1,607,617 Click to see attachment
List of Attached Documents:
// Content
1,562,382 		569,150
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
736 		Click to see attachment
List of Attached Documents:
// Content
489 		Click to see attachment
List of Attached Documents:
// Content
489
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 22,128,050 23,625,879 25,869,801
Liabilities 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 right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 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........... 22,128,050 23,625,879
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 22,128,050 23,625,879
30 Total liabilities and net assets/fund balances (see instructions). 22,128,050 23,625,879
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
22,128,050
2
Enter amount from Part I, line 27a .....................
2
1,535,843
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
134,828
4
Add lines 1, 2, and 3 ..........................
4
23,798,721
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
172,842
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
23,625,879
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      
b
c
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 1,134,950   1,000,000 134,950
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       134,950
b
c
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 2 134,950
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 6,535
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 6,535
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 6,535
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 24,467
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 24,467
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 17,932
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow17,932 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 arrowWA
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.GARNEAUNICONFF.ORG
14
The books are in care ofright arrowLACEY NORMAN-STARNS Telephone no.right arrow (206) 503-1046

Located atright arrow249 MAIN AVE S SUITE 107PMB 363NORTH BENDWA ZIP+4right arrow98045
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
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
LEEANNA SHAW CHAIRMAN
15.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
LARRY SHAW PRESIDENT
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
ROY SCHIFERL VICE PRESIDENT
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
LACEY NORMAN-STARNS TREASURER
40.00 		25,000 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
JOYCE SCHIFERL SECRETARY
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
CHRIS ANDERSON DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
NICK AADLAND DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
KARLI NORMAN-ALLEMAND DIRECTOR
10.00 		138,000 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
BROOK STARNS DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
CHARLIE KINNUNE DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
JASON ALLEMAND DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
SCOTT NEWTON DIRECTOR
3.00 		0 0 0
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
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
MADRONA FINANCIAL SERVICES LLC INVESTMENT MANAGEMENT FEES 79,046
2911 BOND ST STE 200
EVERETT,WA98201
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
3,745,156
b
Average of monthly cash balances.......................
1b
1,779,635
c
Fair market value of all other assets (see instructions)................
1c
19,672,118
d
Total (add lines 1a, b, and c).........................
1d
25,196,909
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
25,196,909
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
377,954
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
24,818,955
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,240,948
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
1,240,948
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
6,535
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
6,535
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,234,413
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,234,413
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
1,234,413
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
891,198
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
891,198
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 1,234,413
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...... 489,737
b From 2020...... 596,787
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........ 1,086,524
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 891,198
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..... 891,198
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 343,215 343,215
(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 5 743,309
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) ... 		146,522
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		596,787
10 Analysis of line 9:
a Excess from 2020.... 596,787
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
LEEANNA SHAW
249 MAIN AVE S SUITE 107PMB 363
NORTH BEND,WA98045
(206) 503-1046
GNFFAPPLICATIONS@OUTLOOK.COM
bThe form in which applications should be submitted and information and materials they should include:
APPLICATION SHOULD BE SUBMITTED USING THE APPLICABLE ORGANIZATION/GROUP APPLICATION OR INDIVIDUAL GRANT APPLICATION FORM.
cAny submission deadlines:
GRANTS MAY BE SUBMITTED BETWEEN FEBRUARY 1ST - FEBRUARY 28TH.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
STARTING IN 2020, THE GARNEAU NICON FAMILY FOUNDATION WILL HAVE ONE GRANT CYCLE PER YEAR. GRANTS MAY BE SUBMITTED BETWEEN FEBRUARY 1ST - FEBRUARY 28TH. ANY APPLICATIONS RECEIVED BEFORE FEBRUARY 1ST, OR AFTER FEBRUARY 28TH, WILL NOT BE CONSIDERED. DUE TO THE LARGE VOLUME OF APPLICATIONS, ORGANIZATIONS/INDIVIDUALS THAT ARE AWARDED A GRANT MAY NOT APPLY FOR A GRANT IN CONSECUTIVE GRANT CYCLES. IF YOU APPLY AND WERE AWARDED A GRANT IN THE PREVIOUS YEAR, YOUR APPLICATION WILL NOT BE CONSIDERED.
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

AHAT HOME CARE

PO BOX 2251
TACOMA,WA98401 		  PC HEALTHCARE 10,000

ARLINGTON EDUCATION FOUNDATION

135 S FRENCH AVE BOX A
ARLINGTON,WA98223 		  PC EARLY CHILDHOOD LEARNING 5,000

AUBURN SYMPHONY ORCHESTRA

PO BOX 2186
AUBURN,WA98071 		  PC EDUCATION (MUSICAL) 10,000

BALLARD FOOD BANK

1400 NW LEARY WAY
SEATTLE,WA98107 		  PC FOOD ASSISTANCE (YOUTH) 10,000

BOXLEY MUSIC FUND DBA JAZZCLUBS NW

PO BOX 1161
NORTH BEND,WA98045 		  PC PERFORMING ARTS 5,000

BRIGHT BRIDGE FOUNDATION

4580 KLAHANIE DR SE
SAMMAMISH,WA98075 		  PC CLOTHING/ESSENTIALS 8,280

BYRD BARR PLACE

722 18TH AVE
SEATTLE,WA98122 		  PC FOOD ASSISTANCE (YOUTH) 5,000

CRISIS CONNECTIONS

2901 3RD AVE STE 100
SEATTLE,WA98121 		  PC MENTAL HEALTH 25,000

DIABETES ASSOCIATION OF PIERCE COUNTY

PO BOX 110427
TACOMA,WA98411 		  PC YOUTH SPORTS/CLUBS/CAMPS 5,000

DUVALL HISTORICAL SOCIETY

PO BOX 385
DUVALL,WA98019 		  PC HISTORICAL PRESERVATION 10,000

EMPOWER YOUTH NETWORK

PO BOX 910
CARNATION,WA98014 		  PC EMPLOYMENT TRAINING/PLACEMENT 31,000

ENCOMPASS

9050 384TH AVE SE
SNOQUALMIE,WA98065 		  PC EARLY CHILDHOOD LEARNING 15,870

FOSS WATERWAY SEAPORT

705 DOCK STREET
TACOMA,WA98402 		  PC EDUCATION ASSISTANCE 15,000

GEEKING OUT KIDS OF COLOR

605 SW 108TH ST
SEATTLE,WA98146 		  PC EDUCATION ASSISTANCE 5,000

GOODROOTS NW

PO BOX 7521
BONNEY LAKE,WA98391 		  PC FOOD ASSISTANCE (YOUTH) 15,000

HIGHLAND PARK IMPROVEMENT CLUB

PO BOX 46253
SEATTLE,WA98146 		  PC COMMUNITY EVENTS 10,000

INTERNATIONAL COMMUNITY HEALTH SERVICES

PO BOX 3007
SEATTLE,WA981143007 		  PC ELDERLY CARE 15,000

JUBILEE WOMENS CENTER

620 18THAVE E
SEATTLE,WA98112 		  PC HOUSING ASSISTANCE 20,000

KIDVANTAGE (FORMERLY EASTSIDE BABY CORNER)

PO BOX 712
ISSAQUAH,WA98027 		  PC CLOTHING/ESSENTIALS 10,000

KINDERING CENTER

16120 NE 8TH STREET
BELLEVUE,WA98008 		  PC EARLY CHILDHOOD LEARNING 15,000

KING COUNTY LIBRARY SYSTEM FOUNDATION

960 NEWPORT WAY WW
ISSAQUAH,WA98027 		  PC EDUCATION ASSISTANCE 15,000

LISTEN AND TALK

8244 122ND AVE NE
KIRKLAND,WA98033 		  PC EDUCATION ASSISTANCE 5,000

MAPLE VALLEY CREATIVE ARTS COUNCIL

23220 MAPLE VALLEY BLACK DIAMOND
ROAD SE STE 15
MAPLE VALLEY,WA98038 		  PC PERFORMING ARTS 5,000

MONROE GOSPEL WOMENS MISSION

450 SOUTH LEWIS ST
MONROE,WA98272 		  PC HOMELESSNESS 15,000

MOUNT SI BOOSTER CLUB

PO BOX 412
SNOQUALMIE,WA98065 		  PC CHEER PROGRAM 6,300

NORTHWEST AVALANCHE CENTER

249 MAIN AVE S STE 107-366
NORTH BEND,WA98045 		  PC CLIMATE CHANGE/ENVIRONMENTAL CONSERVATION 15,000

OPERATION NIGHTWATCH

PO BOX 21181
SEATTLE,WA98111 		  PC HOMELESSNESS 10,000

OUTDOORS FOR ALL FOUNDATION

6344 NE 74TH ST SUITE 102
SEATTLE,WA98115 		  PC DISABILITY RESOURCES/SUPPORT 10,000

OVERLAKE SERVICE LEAGUE DBA BELLEVUE LIFESPRING

PO BOX 50172
BELLEVUE,WA98015 		  PC FOOD ASSISTANCE (YOUTH) 15,000

PIERCE COUNTY PROJECT ACCESS (PCPA)

4301 S PINE ST STE 455
TACOMA,WA98409 		  PC HEALTHCARE 25,000

SAFE CROSSINGS FOUNDATION

4210 SW OREGON ST SUITE H
SEATTLE,WA98116 		  PC MENTAL HEALTH 15,000

SEATTLE CHILDRENS THEATRE ASSOCIATION

201 THOMAS ST
SEATTLE,WA98109 		  PC PERFORMING ARTS 5,000

SEATTLE DERBY BRATS

PO BOX 17326
SEATTLE,WA98127 		  PC YOUTH SPORTS = SEATTLE ROLLER DERBY 535

SEATTLE GIRLS CHOIR GUILD

PO BOX 22388
SEATTLE,WA98122 		  PC EDUCATION (MUSICAL) 5,000

SEATTLE SEAFAIR COMMODORES

3518 FREMONT AVE N STE 180
SEATTLE,WA98103 		  PC SEAFAIR FLOAT MAINTENANCE & STORAGE 2,000

SISTER SCHOOLS INC

PO BOX 99492
SEATTLE,WA98139 		  PC EDUCATION ASSISTANCE 5,000

SNOQUALMIE VALLEY HISTORICAL SOCIETY

PO BOX 179
NORTH BEND,WA98045 		  PC EDUCATION 25,000

SNOQUALMIE VALLEY SCHOOLS FOUNDATION

330 BALLARAT AVE N
NORTH BNED,WA98045 		  PC SVSD PTA 2,500

SOUTHWEST YOUTH AND FAMILY SERVICES (SWYFS)

4555 DELRIDGE WAY SW
SEATTLE,WA98106 		  PC TEEN ADVOCACY 5,000

SR3 SEALIFE RESPONSE REHABILITATION AND RESEARCH

2003 S 216TH ST 98811
DES MOINES,WA98198 		  PC WILDLIFE/MARINE CONSERVATION 15,000

ST MARY SCHOOL

518 N H STREET
ABERDEEN,WA98520 		  GOV EDUCATION ASSISTANCE 25,000

STEPS

PO BOX 633
OAK HARBOR,WA98277 		  PC EARLY CHILDHOOD LEARNING 10,000

SUPPORT 7

PO BOX 2604
LYNNWOOD,WA98036 		  PC EMERGENCY SERVICES 15,000

TACOMA OPERA ASSOCIATION

2661 N PEARL ST STE 416
TACOMA,WA98407 		  PC EDUCATION (MUSICAL) 5,000

TAPROOT THEATER COMPANY

PO BOX 30946
SEATTLE,WA98113 		  PC MENTAL HEALTH 10,000

THE ARC OF KING COUNTY

660 SW 39TH ST SUITE 205
RENTON,WA98057 		  PC DISABILITY RESOURCES/SUPPORT 5,000

THE CENTER FOR CHILDREN & YOUTH JUSTICE

300 ELLIOTT AVE W SUITE 360
SEATTLE,WA98119 		  PC TEEN ADVOCACY 10,000

THE SOPHIA WAY

1100 BELLEVUE WAY NE 8A-110
BELLEVUE,WA98004 		  PC HOMELESSNESS 15,000

VASHON CENTER FOR THE ARTS

PO BOX 576
VASHON,WA98070 		  PC EDUCATION ASSISTANCE 10,000

VASHON MAURY COMMUNITY FOOD BANK

PO BOX 1205
VASHON,WA98070 		  PC FOOD ASSISTANCE (YOUTH) 50,000

WA THERAPY FUND FOUNDATION

4501 15TH AVE S SUITE 102
SEATTE,WA98108 		  PC MENTAL HEALTH 20,000

WALLINGFORD COMMUNITY SENIOR CENTER

4649 SUNNYSIDE AVE N STE 140
SEATTLE,WA98103 		  PC ELDERLY CARE 5,000

WELLSPRING FAMILY SERVICES

1900 RAINIER AVE S
SEATTLE,WA98144 		  PC HOMELESSNESS 10,000

WESTSIDE BABY

10002 14TH AVE SW
SEATTLE,WA98146 		  PC CLOTHING/ESSENTIALS 10,000

WILD WHATCOM

1015 GIRARD ST
BELLINGHAM,WA98225 		  PC EDUCATION ASSISTANCE 5,000

WOODLAND PARK ZOOLOGICAL SOCIETY

5500 PHINNEY AVE N
SEATTLE,WA98103 		  PC ANIMAL CARE 20,000

YOUTH EXPERIENTIAL TRAINING INSTITUTE (YETI)

226 SW 171ST STREET
NORMANDY PARK,WA98166 		  PC YOUTH SPORTS/CLUBS/CAMPS 15,000

YOUTH IN FOCUS

2100 24TH AVE S SUITE 310
SEATTLE,WA98144 		  PC EDUCATION ASSISTANCE 5,000

YOUTH THEATRE NORTHWEST

PO BOX 296
MERCER ISLAND,WA98362 		  PC PERFORMING ARTS 5,000
Total .................................right arrow 3a 696,485
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 1,546  
4 Dividends and interest from securities ....     14 514,041  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 -18,572  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 134,950  
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) .. 0 631,965 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
631,965
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


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

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

27-5137452
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

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

527 political organization


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

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

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
GARNEAU NICON FAMILY FOUNDATION
  		Employer identification number
27-5137452
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
ESTATE OF FAYE MARGARET GARNEAU
41220 SE 123RD ST
 
NORTH BEND, WA98045

$ 1,862,224


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

$  


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

$  


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

$  


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

$  


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

$  


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

27-5137452
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 PUBLICLY TRADED SECURITIES $ 1,140,138 2024-01-03
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
GARNEAU NICON FAMILY FOUNDATION
  		Employer identification number

27-5137452
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 24,360 12,180   12,180

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

TY 2024 DepreciationSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
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
NORTH BEND BUILDING - 1ST FLOOR RENTAL 2019-10-04 875,340 95,389 SL 39.000000000000 22,445 22,445    
ORGANIZATION COSTS 2012-01-01 3,700 2,964 SL 15.000000000000 247 0    
228 REMODEL-J-3 CONTRACTING 2020-06-30 77,806 6,983 SL 39.000000000000 1,995 0    
228 REMODEL-EXCEPTIONAL SERVICE 2020-06-30 34,035 3,055 SL 39.000000000000 873 0    
228 REMODEL-CITY OF NORTH BEND 2020-06-08 1,149 104 SL 39.000000000000 29 0    
228 REMODEL-LARRY SHAW 2020-06-30 19,455 1,746 SL 39.000000000000 499 0    
228 REMODEL-PAVRIK SHAHIJANI 2020-02-25 3,100 303 SL 39.000000000000 79 0    
228 REMODEL-KRUGER ARCHITECTURE 2020-06-30 34,660 3,111 SL 39.000000000000 889 0    
228 REMODEL-DAVE MORGAN 2020-06-04 10,000 918 SL 39.000000000000 256 0    
228 REMODEL-TRISTAN NORMAN-JOHNSON 2020-08-26 800 70 SL 39.000000000000 21 0    
228 REMODEL - NW ROOFCARE 2020-06-26 49,833 4,473 SL 39.000000000000 1,278 0    
228 REMODEL - EXCEPTIONAL SERVICE 2021-12-30 35,850 1,838 SL 39.000000000000 919 0    
228 REMODEL - KRUGER 2021-03-22 10,620 748 SL 39.000000000000 272 0    
228 REMODEL - DAVE MORGAN 2021-05-21 32,780 2,172 SL 39.000000000000 841 0    
228 REMODEL - STS CONSTRUCTION 2021-08-03 499,865 30,974 SL 39.000000000000 12,817 0    
228 REMODEL - LARRY SHAW 2021-06-30 28,912 1,853 SL 39.000000000000 741 0    
228 REMODEL - CIR ELECTRIC 2021-04-17 4,543 310 SL 39.000000000000 116 0    
228 REMODEL - EJMIN SHAHIJANI 2021-04-20 5,290 362 SL 39.000000000000 136 0    
228 REMODEL - LACEY STARNS 2021-07-08 763 50 SL 39.000000000000 20 0    
228 REMODEL - ANCHOR BLINDS 2021-09-01 5,781 345 SL 39.000000000000 148 0    
228 REMODEL - GRAYBEAL (SIGN) 2021-11-12 8,044 446 SL 39.000000000000 206 0    
228 REMODEL - THE WELDING SHOP 2021-10-05 10,088 583 SL 39.000000000000 259 0    
REMODEL 228 - CABINETS 2022-02-22 15,463 726 SL 39.000000000000 396 0    
LAND - 9801 AURORA 2023-01-01 2,883,597   L   0 0    
BUILDING - 9801 AURORA 2023-01-01 655,938 16,118 SL 39.000000000000 16,819 16,819    
LAND - 10017 AURORA 2023-01-01 1,065,552   L   0 0    
BUILDING - 10017 AURORA 2023-01-01 306,219 7,525 SL 39.000000000000 7,852 7,852    
LAND - 9700 AURORA 2023-01-01 737,908   L   0 0    
BUILDING - 9700 AURORA 2023-01-01 285,752 7,022 SL 39.000000000000 7,327 7,327    
BUILDING - 10001 AURORA 2023-01-01 1,104,330 27,136 SL 39.000000000000 28,316 28,316    
LAND - 10001 AURORA 2023-01-01 743,872   L   0 0    
NORTH BEND BUILDING - 2ND FLOOR FOUNDATION OFFICE 2019-10-04 875,340 95,390 SL 39.000000000000 22,445 0    

TY 2024 InvestmentsCorpBondsSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Name of Bond End of Year Book Value End of Year Fair Market Value
WISDOMTREE TR US HGH YLD CORP 62,425 53,260
GLOBAL X FDS US PFD ETF 375,004 280,456
INNOVATOR ETFS TR S&P INVT GRD PFD 375,913 279,937
ISHARES TR HIGH YLD BD FCTR 218,443 197,912
VANECK ETF TRUST CEF MUNI INCOME 405,800 288,408
ISHARES TR USD INV GRDE ETF 62,380 51,537
INVESCO EXCH TRADED FD TR II PFD ETF 156,735 118,355
ISHARES CORE US AGGREGATE BOND ETF 250,174 209,304

TY 2024 InvestmentsCorpStockSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Name of Stock End of Year Book Value End of Year Fair Market Value
VANGUARD WHITEHALL FDS HIGH DIV YLD 219,824 264,749
APOLLO DIVERSIFIED CREDIT FUND CL I 632,695 586,200
ISHARES TR INTL SEL DIV ETF 125,726 106,782
FIRST TR EXCHANGE TRADED FD VI 389,572 526,859
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT 92,707 84,881
WISDOMTREE TR US SMALLCAP DIVD 95,711 104,596
FIRST TR EXCHANGE TRADED FD VIII FT 500,290 526,967
ISHARES SELECT DIVIDEND ETF 282,490 315,752

TY 2024 InvestmentsLandSchedule2
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
NORTH BEND BUILDING - 1ST FLOOR RENTAL 875,340 117,834 757,506  
LAND - 9801 AURORA 2,883,597 0 2,883,597  
BUILDING - 9801 AURORA 655,938 32,937 623,001  
LAND - 10017 AURORA 1,065,552 0 1,065,552  
BUILDING - 10017 AURORA 306,219 15,377 290,842  
LAND - 9700 AURORA 737,908 0 737,908  
BUILDING - 9700 AURORA 285,752 14,349 271,403  
BUILDING - 10001 AURORA 1,104,330 55,452 1,048,878  
LAND - 10001 AURORA 743,872 0 743,872  

TY 2024 InvestmentsOtherSchedule2
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
DELAWARE LIFE INSURANCE COMPANY AT COST 1,000,000 1,343,271
MH VENTURES FUND II INC ADVISORY AT COST 250,000 263,158
BLACKSTONE PRIVATE CREDIT FUND SHS AT COST 1,112,039 1,103,318
HINES GLOBAL INCOME TRUST T SHARES AT COST 1,123,084 1,132,265
GLOBAL ATLANTIC FINANCIAL GROUP AT COST 1,000,000 1,005,458
VINEBROOK HOMES TRUST INC AT COST 1,000,000 1,613,065
EXCHANGERIGHT ESSENTIAL INCOME AT COST 192,923 262,404
EAGLE LIFE INSURANCE COMPANY AT COST 1,000,000 1,360,820
BLACKSTONE REAL ESTATE INCOME TRUST AT COST 1,084,425 1,544,209

TY 2024 LandEtcSchedule2
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
228 REMODEL-J-3 CONTRACTING 77,806 8,978 68,828  
228 REMODEL-EXCEPTIONAL SERVICE 34,035 3,928 30,107  
228 REMODEL-CITY OF NORTH BEND 1,149 133 1,016  
228 REMODEL-LARRY SHAW 19,455 2,245 17,210  
228 REMODEL-PAVRIK SHAHIJANI 3,100 382 2,718  
228 REMODEL-KRUGER ARCHITECTURE 34,660 4,000 30,660  
228 REMODEL-DAVE MORGAN 10,000 1,174 8,826  
228 REMODEL-TRISTAN NORMAN-JOHNSON 800 91 709  
228 REMODEL - NW ROOFCARE 49,833 5,751 44,082  
228 REMODEL - EXCEPTIONAL SERVICE 35,850 2,757 33,093  
228 REMODEL - KRUGER 10,620 1,020 9,600  
228 REMODEL - DAVE MORGAN 32,780 3,013 29,767  
228 REMODEL - STS CONSTRUCTION 499,865 43,791 456,074  
228 REMODEL - LARRY SHAW 28,912 2,594 26,318  
228 REMODEL - CIR ELECTRIC 4,543 426 4,117  
228 REMODEL - EJMIN SHAHIJANI 5,290 498 4,792  
228 REMODEL - LACEY STARNS 763 70 693  
228 REMODEL - ANCHOR BLINDS 5,781 493 5,288  
228 REMODEL - GRAYBEAL (SIGN) 8,044 652 7,392  
228 REMODEL - THE WELDING SHOP 10,088 842 9,246  
REMODEL 228 - CABINETS 15,463 1,122 14,341  
NORTH BEND BUILDING - 2ND FLOOR FOUNDATION OFFICE 875,340 117,835 757,505  


TY 2024 LegalFeesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 2,100 2,100   0


TY 2024 OtherAssetsSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ORGANIZATION COSTS 736 489 489


TY 2024 OtherDecreasesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Description Amount
STOCK CONTRIBUTION FMV TO COST ADJUSTMENT - NO TAX EFFECT 140,138
RETURN OF FUNDS ERRONEOUSLY TRANSFERRED 32,704


TY 2024 OtherExpensesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SUPPLIES 78,043 61,866   16,177
REPAIRS & MAINTENANCE 328,234 310,894   17,340
MEALS 12,527 4,516   8,011
VEHICLE EXPENSES 2,774 1,413   1,361
BANK FEES & BUSINESS EXPENSES 3,405 3,405   0
SUBSCRIPTIONS FEES 4,655 10   4,645
INSURANCE 48,847 43,445   5,402


TY 2024 OtherIncreasesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Description Amount
COST BASIS ADJUSTMENT - NO TAX EFFECT 134,828


TY 2024 OtherProfessionalFeesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
WEBSITE FEES 1,636 818   818
CONTRACTOR FEES 8,200 8,200   0
OTHER PROFESSIONAL FEES 27,822 26,550   1,272
INVESTMENT MANAGEMENT FEES 79,046 79,046   0


TY 2024 TaxesSchedule
Name:
GARNEAU NICON FAMILY FOUNDATION
EIN:
27-5137452
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PROPERTY TAXES 93,383 85,263   8,120