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
Cumming Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4902
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
JACKSON, WY83001
A Employer identification number

87-0440091
B Telephone number (see instructions)

(307) 734-0708
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$278,620,435J 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) 40,937,240
2 Check right arrow.............
3 Interest on savings and temporary cash investments 2,261 2,261  
4 Dividends and interest from securities... 388,468 388,468  
5a Gross rents............ 20,000 20,000  
b Net rental income or (loss) 10,334
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
9,856,184
b Gross sales price for all assets on line 6a 10,246,862
7 Capital gain net income (from Part IV, line 2)... 9,744,540
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
-9,913,052 301,858 0
12 Total. Add lines 1 through 11........ 41,291,101 10,457,127 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 179,127     180,185
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 13,310     14,047
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
1,203 0 0 1,203
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
402,651 195,006 0 207,645
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2,557,484 414,377 0 113,177
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
2,535,424 5,766 0 0
19 Depreciation (attach schedule) and depletion... 0 0 0
20 Occupancy.............. 9,648     9,648
21 Travel, conferences, and meetings....... 15,187     15,187
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25,313 0 0 25,313
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,739,347 615,149 0 566,405
25 Contributions, gifts, grants paid....... 515,655 515,655
26 Total expenses and disbursements. Add lines 24 and 25 6,255,002 615,149 0 1,082,060
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 35,036,099
b Net investment income (if negative, enter -0-) 9,841,978
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets 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............. 814,356 3,164,812 3,164,812
2 Savings and temporary cash investments......... 2,612,579 22,864,305 22,864,305
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow   0 0 0
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow   0 0 0
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)..... 0 0 0
7 Other notes and loans receivable (attach schedule) right arrow0
Less: allowance for doubtful accounts right arrow0 0 0 0
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 14,638 16,432 16,432
10a Investments—U.S. and state government obligations (attach schedule) 0 0 0
b Investments—corporate stock (attach schedule)....... 3,275,699 Click to see attachment
List of Attached Documents:
// Content
6,556,644 		6,561,538
c Investments—corporate bonds (attach schedule)....... 2,538,952 Click to see attachment
List of Attached Documents:
// Content
2,664,910 		2,487,564
11 Investments—land, buildings, and equipment: basis right arrow2,750,000
Less: accumulated depreciation (attach schedule) right arrow0 0 Click to see attachment
List of Attached Documents:
// Content
2,750,000 		2,750,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 172,533,344 Click to see attachment
List of Attached Documents:
// Content
179,536,209 		214,786,157
14 Land, buildings, and equipment: basis right arrow0
Less: accumulated depreciation (attach schedule) right arrow0 0   0
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
25,366,525 		Click to see attachment
List of Attached Documents:
// Content
25,754,422 		Click to see attachment
List of Attached Documents:
// Content
25,989,627
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 207,156,093 243,307,734 278,620,435
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)...... 0 0
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...........    
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........ 185,930 2,976,124
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 206,970,163 240,331,610
29 Total net assets or fund balances (see instructions)..... 207,156,093 243,307,734
30 Total liabilities and net assets/fund balances (see instructions). 207,156,093 243,307,734
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
207,156,093
2
Enter amount from Part I, line 27a .....................
2
35,036,099
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
1,115,542
4
Add lines 1, 2, and 3 ..........................
4
243,307,734
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
243,307,734
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 ARK GLOBAL EMERGING COMPANIES, LP P    
c CENTERBRIDGE CAPITAL PARTNERS STRATEGIC, L.P. P    
d CYNOSURE PARTNERS 2020, LP P    
e KEYSTONE PRIVATE MARKET OPPORTUNITIES IX (Q), L.P. P    
RA CAPITAL HEALTHCARE FUND, LP P    
RED ROCK RANCH DEVELOPMENT LLC P    
WIRELESS HOLDINGS LLC P    
CENTERBRIDGE CAPITAL PARTNERS STRATEGIC, L.P. LOSS ON DISPOSITION P    
(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 360,851   417,973 -57,122
b 78,326     78,326
c 23     23
d 71,616     71,616
e     68,718 -68,718
7,160,831     7,160,831
2,573,446     2,573,446
    12,237 -12,237
    1,625 -1,625
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     0 -57,122
b     0 78,326
c     0 23
d     0 71,616
e     0 -68,718
    0 7,160,831
    0 2,573,446
    0 -12,237
    0 -1,625
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 9,744,540
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) 1 136,803
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-) Click to see attachment
List of Attached Documents:
// Content
2 0
3 Add lines 1 and 2........................... 3 136,803
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 136,803
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 42,666
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 60,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 102,666
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 34,137
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 arrowUT, WY
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 Click to see list of attachments
List of Attached Documents:
// Content
.............
11
Yes
 
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowCATHY HANDLEY Telephone no.right arrow (307) 734-0708

Located atright arrow148 S REDMOND STJACKSONWY ZIP+4right arrow83001
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
Yes
 
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
 
No
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
Annette P Cumming VP, TRUSTEE, AND EXECUTIVE DIRECTOR
1.00 		0 0 0
PO BOX 4902
JACKSON,WY83001
Cathy Handley Treasurer
1.00 		0 0 0
PO BOX 4902
JACKSON,WY83001
DAVID E CUMMING TRUSTEE AND PRESIDENT
17.20 		179,127 0 0
PO BOX 4902
JACKSON,WY83001
JESSICA GRANT SECRETARY
1.00 		0 0 0
PO BOX 4902
JACKSON,WY83001
JOHN D CUMMING TRUSTEE
1.00 		0 0 0
PO BOX 4902
JACKSON,WY83001
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
 
Total number of other employees paid over $50,000...................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
Cumming Management Company LLC Accounting Services and Investment Management 2,740,614
PO Box 4902
Jackson,WY83001
Tamara Kreinin LLC Philanthropic Advising 80,000
750 Delachaise Street
New Orleans,LA70115
ERNST & YOUNG US LLP Accounting Services 63,193
155 N WACKER DRIVE
CHICAGO,IL60606
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 JACKSON STREET APARTMENTS LLC - INVESTMENT IN AFFORDABLE HOUSING PROJECT WHICH FURTHER ACCOMPLISHES THE CUMMING FOUNDATION'S CHARITABLE PURPOSES. THE PROJECT WILL DEVELOP AND MANAGE LOW-INCOME PUBLIC HOUSING IN TETON COUNTY, WYOMING. PERSONS OF LOW INCOME ARE DEFINED AS MEANING PERSONS OR FAMILIES WHO AS DETERMINED BY THE PUBLIC BODY UNDERTAKING A PROJECT, CANNOT AFFORD TO PAY THE AMOUNTS AT WHICH PRIVATE ENTERPRISE, UNAIDED BY PUBLIC SUBSIDY, IS PROVIDING DECENT, SAFE, AND SANITARY HOUSING 400,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow400,000
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
13,346,942
b
Average of monthly cash balances.......................
1b
1,601,142
c
Fair market value of all other assets (see instructions)................
1c
226,589,049
d
Total (add lines 1a, b, and c).........................
1d
241,537,133
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
 
3
Subtract line 2 from line 1d.........................
3
241,537,133
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
3,623,057
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
237,914,076
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
11,895,704
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
11,895,704
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
136,803
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
381,708
c
Add lines 2a and 2b............................
2c
518,511
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
11,377,193
4
Recoveries of amounts treated as qualifying distributions................
4
254
5
Add lines 3 and 4............................
5
11,377,447
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
11,377,447
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
1,082,060
b
Program-related investments—total from Part VIII-B..................
1b
400,000
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
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,482,060
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 11,377,447
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 2021, 2020 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 193,545
b From 2020...... 1,091,239
c From 2021...... 0
d From 2022...... 25,735,954
e From 2023...... 0
f Total of lines 3a through e ........ 27,020,738
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,482,060
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..... 1,482,060
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 9,641,632 9,641,632
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 17,379,106
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...... 		 
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 .......... 		253,755
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		17,379,106
10 Analysis of line 9:
a Excess from 2020.... 0
b Excess from 2021.... 0
c Excess from 2022.... 17,379,106
d Excess from 2023.... 0
e Excess from 2024.... 0
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).)
DAVID E CUMMING PRESIDENT
JOHN D CUMMING TRUSTEE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

UNIVERSITY OF UTAH

65 MARIO CAPECCHI DRIVE
SALT LAKE CITY,UT84132 		  PC SUPPORT TO JOHN A. MORGAN EYE CENTER, CUMMING PRESIDENTIAL ENDOWED CHAIR 500,000

UNIVERSITY OF UTAH

332 SOUTH 1400 EAST SUITE 160
SALT LAKE CITY,UT84112 		  PC IN KIND DONATION, LUNCHEON HOSTED BY CF FOR THE TUROCK EVENT, ASCENT FAMILY PLANNING ELEVATED UNIVERSITY OF UTAH 6,659

UNIVERSITY OF UTAH

332 SOUTH 1400 EAST SUITE 160
SALT LAKE CITY,UT84112 		  PC IN KIND DONATION, LUNCHEON HOSTED BY CF FOR THE MICROBIOME LUNCHEON 6,326

THE NATURE CONSERVANCY OF UTAH

559 EAST SOUTH TEMPLE
SALT LAKE CITY,UT84102 		  PC in kind donation, luncheon 2,670
Total .................................right arrow 3a 515,655
bApproved for future payment

GREAT SALT LAKE ALLIANCE
PO BOX 4902
JACKSON,WI83001 		  PC INITIAL FUNDING 1,000,000

GREAT SALT LAKE ALLIANCE
PO BOX 4902
JACKSON,WI83001 		  PC QUANTITATIVE RESEARCH 1,525
Total ................................. right arrow 3b 1,001,525
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 2,261  
4 Dividends and interest from securities ....     14 388,468  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 10,334  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 110,019 18 9,746,165  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aNET INCOME FROM PARTNERSHIP INVESTMENTS 		901101 2,076,843 1 430,468  
bBOOK - TAX DIFFERENCES FROM PARTNERSHIP INVESTMENTS     1 -12,420,617  
crecoveries of amounts treated as qualifying distributions     1 254  
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 2,186,862 -1,842,667 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
344,195
(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: 24020961
Software Version: 2024v5.1


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
Cumming Foundation
 
Employer identification number

87-0440091
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
Cumming Foundation
  		Employer identification number
87-0440091
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
IAN M CUMMING CLAT
 
PO BOX 4902
 
JACKSON, WY83001

$ 28,042,414


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
IAN M CUMMING CLAT
 
PO BOX 4902
 
JACKSON, WY83001

$ 3,294,138


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
IAN M CUMMING CLAT
 
PO BOX 4902
 
JACKSON, WY83001

$ 9,600,688


(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
Cumming Foundation
  		Employer identification number

87-0440091
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
 INTEREST IN PARTNERSHIP INVESTMENTS $ 28,042,414 2024-01-01
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
2
 INTEREST IN COMMODITIES $ 3,294,138 2024-09-20
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 INTEREST IN PARTNERSHIP INVESTMENTS $ 9,600,688 2024-10-31
(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
Cumming Foundation
  		Employer identification number

87-0440091
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: 24020961
Software Version: 2024v5.1

TY 2024 AccountingFeesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING SERVICES 339,458 169,729   169,729
TAX PREPARATION FEES 63,193 25,277   37,916

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

TY 2024 GainLossSaleOtherAssetsSch
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
CAPITAL GAIN OR (LOSS) PER BOOKS         10,246,862 390,678     9,856,184  

TY 2024 GeneralExplanationAttachment
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Identifier Return Reference Explanation
Expenditure Responsibility Part VI, Section B, Line 5d PRI name: Jackson Street Apartments LLC (PRI) PRI address: P.O. Box 4902, Jackson, WY 83001 PRI Date: 8/15/22 PRI Amount: $24,900,000 PRI Purpose: Investment in Affordable Housing Project Amount expended: $24,588,136 Dates of reports: 12/15/22; 2/27/23; 5/23/23; 10/4/23; 12/14/23; 6/17/2024; 11/19/2024 Results: To the knowledge of the foundation, and based upon the reports furnished by the recipient, no part of the program related investment has been used for other than its intended purpose. Reports were obtained on a regular basis since the investments origination. The amount noted above as amount expended represents the book value of the program related investment as of December 31, 2024.
Expenditure Responsibility PART VI, SECTION B, LINE 5D PRI name: GenBioPro Inc. (PRI) PRI address: Suite D1041, Las Vegas, NV 89103 PRI Date: 10/5/2023 PRI Amount: $1,000,000 PRI Purpose: Increasing availability of low-cost medical care Amount expended: $1,000,000 Dates of reports: 1/8/23; 4/22/24; 7/11/24; 10/17/24; 1/8/25 Results: To the knowledge of the foundation, and based upon the reports furnished by the recipient, no part of the program related investment has been used for other than its intended purpose. Reports were obtained on a regular basis since the investments origination. The amount noted above as amount expended represents the book value of the program related investment as of December 31, 2024.

TY 2024 InvestmentsCorpBondsSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Name of Bond End of Year Book Value End of Year Fair Market Value
Lord Abbett (LOLDX) 2,664,910 2,487,564

TY 2024 InvestmentsCorpStockSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Name of Stock End of Year Book Value End of Year Fair Market Value
Crimson Wine Group Stock 53,881 174,536
Agnico Eagle Mines Ltd 1,328,948 1,342,529
Evolution Mining 126,108 117,498
Regis Resources 125,379 74,065
Agnico Eagle Mines 792,264 762,548
Newmont Corp 129,689 71,090
Newmont Corp-CDI 892,384 642,948
Barrick Gold Corp 130,221 69,743
Kinross Gold Corp 771,381 760,232
Franco-Nevada Corp 128,751 94,549
ABBVIE INC COM 115,217 139,317
AECOM 64,233 78,192
AMERICAN INTL GROUP INC COM NEW 59,164 73,601
AMPHENOL CORP NEW CL A 105,349 165,569
ASHLAND INC 101,704 83,894
BERRY GLOBAL GROUP INC 77,755 83,942
CANADIAN PAC KANS CITY LTD CAD 47,415 40,382
CHEVRON CORP 127,331 116,162
DARLING INTL INC 0 0
FREEPORT-MCMORAN INC 73,594 70,220
GENERAC HLDGS INC 35,049 45,740
INTEL CORP 0 0
INTUITIVE SURGICAL INC 106,311 177,466
KBR INC 101,754 95,816
LENNAR CORP CL A 44,897 51,411
MAGNERA CORP 7,044 6,505
MARVELL TECHNOLOGY INC 61,300 94,545
MEDTRONIC PLC 126,977 124,453
MERCADOLIBRE INC 63,129 78,220
MGMRESORTS INTL 55,371 43,624
NEXTERA ENERGY INC COM 64,996 69,754
NORTHROP GRUMMAN CORP 103,942 112,630
PAYPAL HOLDINGS INC 170,340 232,579
PNC FINANCIAL SERVICES GROUP 77,968 123,231
QUANTA SERVICES INC 52,467 79,013
RYMAN HOSPITALITY PPTYS INC COM 33,332 40,901
SAFEHOLD INC 94,140 82,439
WALT DISNEY CO (HOLDING CO) DISNEY COM 106,859 142,194

TY 2024 InvestmentsLandSchedule2
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
land 2,750,000 0 2,750,000 2,750,000

TY 2024 InvestmentsOtherSchedule2
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Keystone Private Market Opportunities IX (Q), LP AT COST 1,406,283 1,176,193
JZ Equity Partners PLC AT COST 429,107 64,020
RCG Kennedy House LLC AT COST 10,053 0
RA Capital Biotech Fund LP AT COST 24,301,929 32,401,363
Centerbridge Capital Partners AT COST 5,103 0
Glade LLC AT COST 20,077,049 20,906,178
Ark Global Emerging Companies LP AT COST 924,896 1,118,832
Cedar Street Teton Fund LP AT COST 1,760,746 2,104,402
Cynosure Partners 2020 LP AT COST 5,698,101 7,694,448
Coffee Berry Holdings LLC AT COST 32,480,871 35,763,405
DJD Kroll LLC AT COST 3,475,668 5,016,375
MTI Holdings LLC AT COST 26,409,572 43,226,267
Red Rock Ranch Development LLC AT COST 21,372,224 16,368,053
SL Tower LLC AT COST 4,740,786 10,455,013
Stock Options AT COST 0 0
JP Morgan Gold AT COST 1,465,275 1,956,825
Timpanogos Towers LLC AT COST 9,600,688 9,875,725
Wireless Holdings LLC AT COST 16,754,447 17,172,021
White Room LLC AT COST 8,623,411 9,487,037

TY 2024 LegalFeesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL SERVICES 1,203     1,203


TY 2024 OtherAssetsSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Jackson Street Apartments LLC (PRI) 24,366,525 24,588,136 24,761,697
GenBioPro, Inc. (PRI) 1,000,000 1,000,000 1,061,644
due from clat 0 166,286 166,286


TY 2024 OtherExpensesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DUES AND MEMBERSHIPS 25,000     25,000
BANK FEES 295     295
filing fees 18     18


TY 2024 OtherIncomeSchedule2
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
NET INCOME FROM PARTNERSHIP INVESTMENTS 2,507,311 301,858  
Book - Tax Differences from Partnership investments -12,420,617    
recoveries of amounts treated as qualifying distributions 254    


TY 2024 OtherIncreasesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Description Amount
PRIOR PERIOD PARTNERSHIP TRUE-UP PER BOOKS 1,115,542


TY 2024 OtherProfessionalFeesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT and asset MANAGEMENT FEES 2,444,307 414,377    
CONSULTING FEES 111,854     111,854
PAYROLL FEES 1,323     1,323


TY 2024 TaxesSchedule
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES PAID 5,766 5,766    
FEDERAL INCOME TAXES 1,896,000      
STATE INCOME TAXES 633,658      


TY 2024 TransfersFrmControlledEntities
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Name US /
Foreign Address		 EIN Description Amount
coffee berry holdings llc PO BOX 4902
jackson,WY83001 		47-5324984 n/a 0
GLADE LLC PO BOX 4902
JACKSON,WY83001 		84-4699816 DISTRIBUTION 22,831,281
JACKSON STREET APARTMENTS LLC (PRI) PO BOX 4902
JACKSON,WY83001 		87-3611810 DISTRIBUTION 138,303
MTI HOLDINGS LLC PO BOX 4902
JACKSON,WY83001 		27-3946956 DISTRIBUTION 2,127,971
RED ROCK RANCH DEVELOPMENT LLC PO BOX 4902
JACKSON,WY83001 		48-1303957 DISTRIBUTION 1,618,650
SL TOWER LLC PO BOX 4902
JACKSON,WY83001 		92-1695274 DISTRIBUTION 706,120
WIRELESS HOLDINGS LLC PO BOX 4902
JACKSON,WY83001 		47-5346589 DISTRIBUTION 117,196
Total      

TY 2024 TransfersToControlledEntities
Name:
Cumming Foundation
EIN:
87-0440091
Software ID:
24020961
Software Version:
2024v5.1
Name US /
Foreign Address		 EIN Description Amount
JACKSON STREET APARTMENTS LLC (PRI) PO BOX 4902
JACKSON,WY83001 		87-3611810 CONTRIBUTED CAPITAL 400,000
RED ROCK RANCH DEVELOPMENT LLC PO BOX 4902
JACKSON,WY83001 		48-1303957 CONTRIBUTED CAPITAL 9,900
TIMPANOGOS TOWERS LLC PO BOX 4902
JACKSON,WY83001 		85-2049744 TRANSFER OF INTEREST 9,332,045
WHITE ROOM LLC PO BOX 4902
JACKSON,WY83001 		87-1209594 CONTRIBUTED CAPITAL 447,765
WIRELESS HOLDINGS LLC PO BOX 4902
JACKSON,WY83001 		47-5346589 TRANSFER OF INTEREST 29,089,863
WIRELESS HOLDINGS LLC PO BOX 4902
JACKSON,WY83001 		47-5346589 TRANSFER OF INTEREST 205,000
Total