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
KARUNA FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)3514 N VANCOUVER AVENUE 320
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PORTLAND, OR97227

A Employer identification number

27-2831197

B Telephone number (see instructions)

(503) 841-5206

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

$18,624,945J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	8,070		8,070
4	Dividends and interest from securities...	257,587		257,587
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		707,669
b	Gross sales price for all assets on line 6a 6,162,948
7	Capital gain net income (from Part IV, line 2)...			707,669
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	101,916	108,339
12	Total. Add lines 1 through 11........	1,075,242		1,081,665
13	Compensation of officers, directors, trustees, etc.	140,000		21,000	119,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	36,835		5,525	31,310
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	1,155	0	1,155
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	19,877	0	19,877
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	78,101	78,101	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	8,133	4,133	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	66,749		0	66,749
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	93,740	74,690	19,050
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	444,590		183,449	257,141
25	Contributions, gifts, grants paid.......	710,815			710,815
26	Total expenses and disbursements. Add lines 24 and 25	1,155,405		183,449	967,956
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-80,163
b	Net investment income (if negative, enter -0-)			898,216
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	17,506	17,492	17,492
	2	Savings and temporary cash investments.........	103,280	424,031	424,031
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	191,325	0	0
	b	Investments—corporate stock (attach schedule).......	4,197,022	List of Attached Documents: // Content 5,506,379	5,506,379
	c	Investments—corporate bonds (attach schedule).......	2,839,799	List of Attached Documents: // Content 2,892,585	2,892,585
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	10,771,041	List of Attached Documents: // Content 9,784,458	9,784,458
	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)	18,119,973	18,624,945	18,624,945
	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........	18,119,973	18,624,945
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	18,119,973	18,624,945
	30	Total liabilities and net assets/fund balances (see instructions).	18,119,973	18,624,945

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

18,119,973

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

-80,163

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

List of Attached Documents:

// Content

585,135

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

18,624,945

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 .

18,624,945

Form 990-PF (2024)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation
1 a	PUBLICLY TRADED SECURITIES	P
b	CAPITAL GAIN REPORTED ON SCHEDULES K-1	P
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	6,162,948	5,608,003	554,945
b			152,724
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			554,945
b			152,724
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	707,669
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	12,485
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	12,485
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	12,485
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	11,587
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	11,587
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	154
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	1,052
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax	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

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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

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

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

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

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

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

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

Yes

Website address right arrow

WWW.KARUNAFOUND.ORG

The books are in care of right arrow

THE FOUNDATION Telephone no. right arrow

(503) 841-5206

Located at right arrow

3514 N VANCOUVER AVENUE 320PORTLANDOR ZIP+4 right arrow

97227

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

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

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

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

16 No

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

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

Yes

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

Yes

(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? .................

Yes

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

List of Attached Documents:

// Content

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
LINDSAY SKOG	EXECUTIVE DIRECTOR 40.00	140,000	23,194	450
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	EXECUTIVE DIRECTOR 40.00	140,000	23,194	450
ERIC LEMELSON	PRESIDENT 4.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	PRESIDENT 4.00	0	0	0
TOM NOVICK	SECRETARY 2.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	SECRETARY 2.00	0	0	0
JENNIFER BRUML	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
LISA DANZIG	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
BRAD HARRISON	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
JEREMIAH LEMELSON	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
PATRICK MALONEY	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
JULIA NOVY	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
HOLLY PRUETT	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
JO ANNE WELSCH	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
AMY WONG	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	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
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2024)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
TIEDEMANN ADVISORS	INVESTMENT ADVISORY SERVICES	78,101
1120 NW COUCH STREET SUITE 410 PORTLAND,OR97209	INVESTMENT ADVISORY SERVICES	78,101

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	CHARITABLE COSTS INCURRED IN THE BUILDING OF A LAW SCHOOL LIBRARY.	214
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...................

10,050,583

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

291,165

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

8,297,704

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

18,639,452

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

18,639,452

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

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

279,592

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

18,359,860

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

917,993

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

917,993

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

12,485

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

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

12,485

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

905,508

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

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

905,508

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

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

905,508

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 ..........

967,956

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. .......

967,956

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					905,508
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......	144,832
b From 2020......	58,370
c From 2021......
d From 2022......	45,023
e From 2023......	378,946
f Total of lines 3a through e ........		627,171
4Qualifying distributions for 2024 from Part
XI, line 4: $ 967,956
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.....					905,508
e Remaining amount distributed out of corpus		62,448
5 Excess distributions carryover applied to 2024.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		689,619
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) ...		144,832
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		544,787
10 Analysis of line 9:
a Excess from 2020....	58,370
b Excess from 2021....
c Excess from 2022....	45,023
d Excess from 2023....	378,946
e Excess from 2024....	62,448

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).)

ERIC LEMELSON

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
BHUTAN FOUNDATION 1050 CONNECTICUT AVENUE NW 66013 WASHINGTON,DC20035		PC	GENERAL OPERATING SUPPORT	75,000
BHUTAN FOUNDATION 1050 CONNECTICUT AVENUE NW 66013 WASHINGTON,DC20035		PC	GENERAL OPERATING FUNDS BHUTAN ECOLOGICAL SOCIETY	54,000
BHUTAN FOUNDATION 1050 CONNECTICUT AVENUE NW 66013 WASHINGTON,DC20035		PC	SMALL GRANTS PROGRAM	25,000
BHUTAN FOUNDATION 1050 CONNECTICUT AVENUE NW 66013 WASHINGTON,DC20035		PC	BHUTAN ECOLOGICAL SOCIETY GROUNDWATER MEETINGS	21,000
INTERNATIONAL CRYOSPHERE CLIMATE INITIATIVE 281 SARGENT HILL ROAD PAWLET,VT05761		PC	GENERAL OPERATING SUPPORT	100,000
JIGME SINGYE WANGCHUCK SCHOOL OF LAW PO BOX 1204 PANGBISA BT		GOV	LAW LIBRARY MAINTENANCE PROGRAM	75,000
JIGME SINGYE WANGCHUCK SCHOOL OF LAW PO BOX 1204 PANGBISA BT		GOV	DONATION OF KIA QL-SPORTAGE VEHICLE ON 10/27/24. VEHICLE WAS FULLY DEPRECIATED AS OF 12/31/22. FMV OF THE VEHICLE AT 10/18/24 WAS $9,578, PER KELLEY BLUE BOOK.	9,578
JSW BHUTAN LEGAL EDUCATION FOUNDATION C/O WHITE AND CASE LLP 1221 AVENUE OF THE AMERICAS NEW YORK,NY10020		PF	JSW NEGOTIATION WORKSHOP	5,000
JSW BHUTAN LEGAL EDUCATION FOUNDATION C/O WHITE AND CASE LLP 1221 AVENUE OF THE AMERICAS JO WEISS NEW YORK,NY10020		PF	SUPPORT FOR CLIMATE CHANGE INSTITUTE AT JSW SCHOOL OF LAW	265,089
LEWIS & CLARK LAW SCHOOL 10101 S TERWILLIGER BLVD PORTLAND,OR97219		PC	EDUCATIONAL SCHOLARSHIPS	42,337
TARAYANA FOUNDATION 145 CHANG LAM SE NORZIN BT		NC	SUPPORT FOR HOUSING PROGRAM	38,811
Total ................................. 3a				710,815

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	8,070
4 Dividends and interest from securities ....			14	257,587
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	707,669
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INT/DIV FROM PASS THROUGH INVESTMENTS REPORTED ON SCH K-1			14	122,774
bOTHER GAIN/LOSS FROM PASS THROUGH INVEST REPORTED ON SCH K-1			01	-14,435
cOTHER UBIT LOSSES FROM PASS THROUGH INVESTMENTS REPORTED ON K-1	523000	-6,423
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		-6,423		1,081,665	0

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

1,075,242

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2024)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
GARY MCGEE & CO. LLP	8,538	0		8,538
SENSIBA SAN FILIPPO, LLP	11,339	0		11,339

- TIN:

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

TY 2024 ExpenditureResponsibilityStmt

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
JSW BHUTAN LEGAL EDUCATION FOUNDATION	C/O WHITE AND CASE LLP 1221 AVENUE OF AMERICAS NEW YORK,NY10020	2024-07-05	265,089	SUPPORT FOR CLIMATE CHANGE INSTITUTE AT JSW SCHOOL OF LAW.	265,089	NONE	3/31/25	2025-03-31	GRANTEE IS SUBJECT TO STRICT BUDGETARY AND SPENDING OVERSIGHT BY THE BHUTANESE GOVERNMENT AND BY THE GRANTOR. NO QUESTIONS OR ISSUES HAVE BEEN IDENTIFIED IN THESE REVIEWS.
JSW BHUTAN LEGAL EDUCATION FOUNDATION	C/O WHITE AND CASE LLP 1221 AVENUE OF AMERICAS NEW YORK,NY10020	2024-07-05	5,000	SUPPORT FOR NEGOTIATION WORKSHOP AT JSW SCHOOL OF LAW.	5,000	NONE	03/31/25	2025-03-31	GRANTEE US SUBJECT TO STRICT BUDGETARY AND SPENDING OVERSIGHT BY THE BHUTANESE GOVERNMENT AND THE GRANTOR. NO QUESTIONS OR ISSUES HAVE BEEN IDENTIFIED IN THESE REVIEWS.
TARAYANA FOUNDATION	145 CHANG LAM SE NORZIN BT	2024-12-26	38,811	SUPPORT FOR HOUSING PROGRAM.	38,811	NONE	03/31/25	2025-03-31	GRANTEE IS SUBJECT TO STRICT BUDGETARY AND SPENDING OVERSIGHT BY THE BHUTANESE GOVERNMENT AND BY THE GRANTOR. NO QUESTION OR ISSUES HAVE BEEN IDENTIFIED IN THESE REVIEWS.

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BRISTOL-MYERS SQUIBB CO NOTE	74,360	74,360
COMMONSPIRIT HEALTH SER 2019 BOND	35,996	35,996
CONSERVATION FD/SUSTAINABLE BOND	96,471	96,471
EUROPEAN INVT BK NOTE 2/13/34	374,007	374,007
HUNTINGTON BANCSHARES INC	74,332	74,332
INTER-AMERICAN DEV BK SER 817 NOTE 1/13/27	10,388	10,388
INTER-AMERICAN DEVELOPMENT BANK 09/18/28	95,660	95,660
INTER-AMERICAN DEV BK NOTE 1/24/44	27,449	27,449
INTER-AMERICAN DEV BK NOTE 4/12/33	77,297	77,297
INTER-AMERICAN DEV BK NOTE 9/13/33	178,717	178,717
INTERNATIONAL BK FOR RECON&DEV NOTE 09/13/28	88,679	88,679
INTERNATIONAL BK FOR RECON&DEV NOTE 08/26/30	125,384	125,384
INTERNATIONAL BK FOR RECON&DEV NOTE 01/10/31	322,991	322,991
INTERNATIONAL BK FOR RECON&DEV NOTE 02/10/31	98,748	98,748
INTERNATIONAL BK FOR RECON & DEV SERV 101526 03/29/32	164,688	164,688
INTERNATIONAL BK FOR RECON&DEV BOND 11/14/33	385,588	385,588
MICROSOFT CORP NOTE CALL MAKE WHOLE	78,771	78,771
MORGAN STANLEY SER I MTN	74,615	74,615
ORACLE CORP NOTE CALL MAKE WHOLE	74,032	74,032
PEPSICO INC NOTE CALL MAKE WHOLE 10/6/46	35,964	35,964
PNC FINL SVCS GROUP INC NOTE 12/02/28	74,036	74,036
SALESFORCE INC NOTE	36,928	36,928
STATE STREET CORP NOTE	67,103	67,103
TARGET CORP NOTE CALL MAKE WHOLE 1/15/53	72,294	72,294
THE SIGNA GROUP SER C NOTE	37,251	37,251
TRUIST FINL CORP SER G MTN	36,931	36,931
VERIZON COMMUNICATIONS INC	73,905	73,905

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES	52,031	52,031
ABBVIE INC	104,310	104,310
ABERCROMBIE & FITCH CO.	6,876	6,876
ACCENTURE	59,453	59,453
ADOBE SYSTEMS INC	33,351	33,351
ADVANCED MICRO DEVICES INC	34,908	34,908
AECOM	4,166	4,166
AFLAC INC	36,307	36,307
ALBEMARLE CORP COM	3,443	3,443
ALPHABET INC CAP STK CL A	131,753	131,753
ALPHABET INC CAP STK CL C	125,690	125,690
AMALGAMENTED FINANCIAL CORP	26,006	26,006
AMAZON.COM INC	175,731	175,731
AMERICAN EAGLE OUTFITTERS INC COM	4,051	4,051
AMERICAN WATER WORKS COMPANY INC	31,745	31,745
APPLE INC	405,680	405,680
APPLIED MATERIALS INC	8,131	8,131
APTIV PLC ORD US	6,653	6,653
AUTODESK INC	7,980	7,980
AVIENT CORPORATION COM	23,862	23,862
AXALTA COATING SYSTEMS LTD COM	56,497	56,497
BADGER METER INC	5,727	5,727
BANK OF AMERICA CORP	61,618	61,618
BANK OF NEW YORK MELLON CORP COM	29,656	29,656
BEST BUY CO INC	7,808	7,808
BIOGEN INC COM	11,928	11,928
BLOCK INC CL A	9,434	9,434
BOOKING HOLDINGS INC	4,968	4,968
BOSTON SCIENTIFIC CORP	24,474	24,474
BROADCOM INC COM	75,580	75,580
BRUKER CORP	20,634	20,634
CADENCE DESIGN SYSTEMS INC COM	36,656	36,656
CAESARS ENTERTAINMENT INC	3,743	3,743
CALIFORNIA WATER SERVICE GROUP	2,402	2,402
CAPITAL ONE FINANCIAL CORP	6,598	6,598
CATERPILLAR INC	53,688	53,688
CHURCH & DWIGHT	58,952	58,952
THE CIGNA GROUP COM	53,571	53,571
CISCO SYSTEMS INC	85,899	85,899
CITIGROUP INC	12,248	12,248
COGENT COMMUNICATIONS	6,089	6,089
COMMERCIAL METALS CO	30,504	30,504
CUMMINS INC	78,086	78,086
DARLING INGREDIENTS INC	2,897	2,897
DEERE & CO	19,490	19,490
DELL TECHNOLOGIES INC	22,472	22,472
EBAY INC COM	6,938	6,938
ECOLAB INC	33,273	33,273
ELEVANCE HEALTH INC COM	12,912	12,912
ELI LILLY AND CO	40,916	40,916
EMBECTA CORP COMMON STOCK	41	41
ENERGY RECOVERY INC	1,161	1,161
ETSY INC COM	8,727	8,727
FIRST SOLAR INC	5,111	5,111
FLUOR CORP	16,719	16,719
FMC CORP	33,298	33,298
FOOT LOCKER INC COM	2,524	2,524
FORWARD AIR CORP	2,290	2,290
GE HEALTHCARE TECHNOLOGIES INC	156	156
GAP INC COM	3,190	3,190
GE AEROSPACE COM NEW	41,864	41,864
GEN DIGITAL INC COM	16,319	16,319
GOLDMAN SACHS GROUP INC	92,764	92,764
GRAINGER W W INC	20,027	20,027
HARTFORD FINANCIAL SERVICES GRP INC	96,272	96,272
HASBRO INC	17,947	17,947
HERSHEY COMPANY COM	4,234	4,234
HEWLETT PACKARD ENTERPRISE CO	22,781	22,781
HUMANA INC	2,791	2,791
HUNTSMAN CORP	2,200	2,200
HP INC	7,113	7,113
INTEL CORP	14,536	14,536
INTERNATIONAL BUS MACH CORP	86,393	86,393
INTUIT INC	15,713	15,713
IRIDIUM COMMUINICATIONS INC	10,302	10,302
JACOBS SOLUTIONS INC	5,612	5,612
JOHNSON & JOHNSON	143,608	143,608
JPMORGAN CHASE & CO	72,632	72,632
KB HOME	42,192	42,192
KBR INC COM	11,007	11,007
KYNDRYL HOLDINGS INC	35	35
L3HARRIS TECHNOLOGIES INC	40,374	40,374
LAM RESEARCH CORP COM	23,258	23,258
LAS VEGAS SANDS CORP	9,091	9,091
LULULEMON ATHLETICA INC	3,824	3,824
LYFT INC CL A COM	2,722	2,722
MASTERCARD INC	115,319	115,319
MCCORMICK & COMPANY INC	5,184	5,184
MCKESSON CORP	13,678	13,678
MERCK & CO INC	123,455	123,455
META PLATFORMS INC	148,720	148,720
METLIFE INC COM	12,528	12,528
MGM RESORTS INTERNATIONAL	31,913	31,913
MICROSOFT CORP	357,854	357,854
MINERALS TECHNOLOGIES INC	2,286	2,286
MOODYS CORP	38,343	38,343
NASDAQ INC COM STK	36,954	36,954
NETFLIX INC	38,327	38,327
NEWMONT CORP	28,250	28,250
NEWS CORP	35,940	35,940
NIKE INC CLASS B	7,189	7,189
NVIDIA CORP	393,604	393,604
ONE GAS INC COM	24,999	24,999
ORGANON & CO	15	15
PAYPAL HLDGS INC	15,619	15,619
PNC FINANCIAL SERVICES GROUP	38,377	38,377
QUALCOMM INC	27,959	27,959
RTX CORPORATION COM	42,238	42,238
S&P GLOBAL INC	93,630	93,630
SALESFORCE.COM INC	82,245	82,245
SHERWIN WILLIAMS CO	30,934	30,934
SIGNET JEWELERS LIMITED	5,246	5,246
SJW GROUP COM	22,198	22,198
STARBUCKS CORP	13,596	13,596
SUNNOVA ENERGY INTL INC	1,142	1,142
SUNRUN INC	7,863	7,863
SYSCO CORP	42,741	42,741
T MOBILE US INC	17,438	17,438
TARGET CORP	39,608	39,608
TESLA INC	109,844	109,844
TETRA TECH INC	42,031	42,031
THERMO FISHER SCIENTIFIC INC	11,965	11,965
TJX COMPANIES INC	32,740	32,740
TRACTOR SUPPLY CO	2,653	2,653
UBER TECHNOLOGIES	10,073	10,073
UNITEDHEALTH GROUP INC	19,223	19,223
UNITED NATURAL FOODS COM	16,468	16,468
VALVOLINE INC	13,604	13,604
VISA INC	126,732	126,732
VOYA FINANCIAL INC COM	10,187	10,187
WALMART INC COM	46,079	46,079
WARNER BROS DISCOVERY INC COM	21	21
WELLS FARGO CO	14,469	14,469
WILLIAMS-SONOMA INC	41,480	41,480
XYLEM INC	76,805	76,805

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
AMERICAN TOWER CORP NEW COM	FMV	20,359	20,359
EMPIRE STATE REALTY TRUST INC	FMV	7,018	7,018
EQUINIX INC	FMV	24,515	24,515
FIMM TREASURY PORTFOLIO	FMV	10,711	10,711
FIMM TREASURY PORTFOLIO	FMV	1,619	1,619
IRON MTN INC DEL COM	FMV	8,199	8,199
ISHARES MSCI EAFE EFT	FMV	880,100	880,100
JBG SMITH PPTYS COM	FMV	2,382	2,382
KILROY REALTY CORP	FMV	38,104	38,104
NUVEEN CORE IMPACT BOND	FMV	463,593	463,593
POTLATCHDEL TIC CORPORATION	FMV	17,780	17,780
SIMON PROPERTY GROUP INC	FMV	40,469	40,469
VORNADO REALTY TRUST	FMV	1,303	1,303
FUNDSMITH SUSTAINABLE EQUITY FUND LP	FMV	2,395,071	2,395,071
IMPACT WORLD EQUITY FUND, LP	FMV	4,464,189	4,464,189
GLOBAL IMPACT ACCESS PARTNERSHIP II	FMV	515,416	515,416
GLOBAL IMPACT OPPORTUNITIES III	FMV	168,710	168,710
GREENBACKER RENEWABLE ENERGY	FMV	724,920	724,920

- TIN:

TY 2024 LegalFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
REZVANI LAW & CONSULTING LLC	1,155	0		1,155

- TIN:

TY 2024 OtherExpensesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
OTHER INVESTMENT EXPENSES FROM SCHEDULE K-1'S	74,690	74,690	0
MISCELLANEOUS EXPENSES	9,376	0	9,376
DUES AND TRAININGS	5,544	0	5,544
WEBSITE COSTS	1,954	0	1,954
OREGON DEPARTMENT OF JUSTICE REGISTRATION FEES	1,962	0	1,962
PROGRAM EQUIPMENT	214	0	214

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER INT/DIV FROM PASS THROUGH INVESTMENTS REPORTED ON SCH K-1	122,774	122,774	122,774
OTHER GAIN/LOSS FROM PASS THROUGH INVEST REPORTED ON SCH K-1	-14,435	-14,435	-14,435
OTHER UBIT LOSSES FROM PASS THROUGH INVESTMENTS REPORTED ON K-1	-6,423		-6,423

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Amount
UNREALIZED GAIN ON INVESTMENTS	575,557
ADJUSTMENT FOR PROPERTY GRANTED AT FMV	9,578

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TIEDEMANN ADVISORS - INVESTMENT ADVISORY SERVICES	78,101	78,101		0

- TIN:

TY 2024 TaxesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL EXCISE TAXES	4,000	0		0
FOREIGN TAXES	4,133	4,133		0