TY 2024 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)	1,000
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	17,984,890	17,984,890
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		25,530
b	Gross sales price for all assets on line 6a 59,910,854
7	Capital gain net income (from Part IV, line 2)...		25,530
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	206,377	206,377
12	Total. Add lines 1 through 11........	18,217,797	18,216,797
	13	Compensation of officers, directors, trustees, etc.	210,000	0		210,000
14	Other employee salaries and wages......	8,880	0		8,880
15	Pension plans, employee benefits.......	23,253	0		23,253
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	53,205	0		53,205
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	63,184	0		63,184
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	31,513	0		31,513
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	434,005	194,379		14,626
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	33,970	0		33,970
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	1,455,294	1,432,661		22,633
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	2,313,304	1,627,040		461,264
25	Contributions, gifts, grants paid.......	24,564,331			24,564,331
26	Total expenses and disbursements. Add lines 24 and 25	26,877,635	1,627,040		25,025,595
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-8,659,838
b	Net investment income (if negative, enter -0-)		16,589,757
c	Adjusted net income (if negative, enter -0-)...

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.............	104,303	107,157	107,157
	2	Savings and temporary cash investments.........	572,815	257,417	257,417
	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)	83,893,038	List of Attached Documents: // Content 75,219,570	75,219,570
	b	Investments—corporate stock (attach schedule).......	340,630,442	List of Attached Documents: // Content 330,773,723	330,773,723
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	102,727,812	List of Attached Documents: // Content 107,327,204	107,327,204
	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)	527,928,410	513,685,071	513,685,071
	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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	527,928,410	513,685,071
	29	Total net assets or fund balances (see instructions).....	527,928,410	513,685,071
	30	Total liabilities and net assets/fund balances (see instructions).	527,928,410	513,685,071

(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	ABBOTT LABORATORIES	P	2023-02-21	2024-07-22
b	ALBEMARLE CORP	P	2020-07-07	2024-09-26
c	AMGEN INC	P	2020-07-07	2024-06-17
d	VERIZON COMMUNICATIONS INC	P	2020-07-07	2024-12-03
e	VERIZON COMMUNICATIONS INC	P	2020-07-07	2024-09-04
	VERIZON COMMUNICATIONS INC	P	2020-07-07	2024-06-10
	WALMART INC	P	2020-07-07	2024-06-17
	VERIZON COMMUNICATIONS INC	P	2021-01-19	2024-06-10
	AMGEN INC	P	2021-04-20	2024-06-17
	ETF WORLD GOLD TR BE	P	2021-04-20	2024-10-31
	VERIZON COMMUNICATIONS INC	P	2021-04-20	2024-06-10
	INTEL CORP	P	2021-08-17	2024-10-21
	JPMORGAN CHASE & CO	P	2021-08-17	2024-06-17
	UNITED PARCEL SERVICE-CL B	P	2021-08-17	2024-11-07
	WALT DISNEY CO/THE	P	2021-08-17	2024-11-07
	JPMORGAN CHASE & CO	P	2021-09-20	2024-06-17
	ETF WORLD GOLD TR BE	P	2021-09-23	2024-10-31
	USA TREAS NOTES 2.250% 11/15/2024 DTD 11/17/2014	P	2021-11-23	2024-03-13
	VERALTO CORP	P	2021-12-22	2024-05-30
	BOEING CO/THE	P	2022-02-03	2024-10-31
	BOEING CO/THE	P	2022-02-03	2024-06-10
	INTEL CORP	P	2022-02-17	2024-10-21
	WALT DISNEY CO/THE	P	2022-02-17	2024-11-07
	ALBEMARLE CORP	P	2022-03-08	2024-09-26
	MCDONALD'S CORP	P	2022-03-08	2024-12-05
	INTEL CORP	P	2022-03-21	2024-10-21
	BOEING CO/THE	P	2022-03-31	2024-10-31
	JPMORGAN CHASE & CO	P	2022-03-31	2024-07-22
	JPMORGAN CHASE & CO	P	2022-03-31	2024-06-17
	VANGUARD FTSE EUROPE ETF	P	2022-04-20	2024-07-16
	VANGUARD FTSE PACIFIC ETF	P	2022-04-20	2024-07-16
	WALT DISNEY CO/THE	P	2022-04-25	2024-11-07
	VERALTO CORP	P	2022-05-16	2024-05-30
	PAYPAL HOLDINGS INC	P	2022-06-27	2024-12-05
	US BANCORP	P	2022-06-27	2024-05-30
	VERALTO CORP	P	2022-07-12	2024-05-30
	ISHARES GOLD TRUST MICRO	P	2022-07-22	2024-07-16
	ISHARES GOLD TRUST MICRO	P	2022-07-22	2024-06-24
	ISHARES GOLD TRUST MICRO	P	2022-07-22	2024-05-30
	ISHARES GOLD TRUST MICRO	P	2022-07-22	2024-05-06
	ISHARES GOLD TRUST MICRO	P	2022-07-22	2024-04-24
	ALBEMARLE CORP	P	2022-08-30	2024-09-26
	PAYPAL HOLDINGS INC	P	2022-08-30	2024-12-05
	US BANCORP	P	2022-08-30	2024-05-30
	ALBEMARLE CORP	P	2022-10-11	2024-09-26
	ISHARES GOLD TRUST MICRO	P	2022-10-11	2024-10-31
	ISHARES GOLD TRUST MICRO	P	2022-10-11	2024-10-31
	ISHARES GOLD TRUST MICRO	P	2022-10-11	2024-08-01
	ISHARES GOLD TRUST MICRO	P	2022-10-11	2024-07-16
	ISHARES GOLD TRUST MICRO	P	2022-10-11	2024-07-16
	SCHWAB U.S. TIPS ETF	P	2023-01-10	2024-05-16
	VERALTO CORP	P	2023-02-14	2024-05-30
	BANK OF AMERICA CORP	P	2023-02-21	2024-07-22
	UNITEDHEALTH GROUP INC	P	2023-02-21	2024-07-22
	VERALTO CORP	P	2023-04-03	2024-05-30
	ALBEMARLE CORP	P	2023-06-08	2024-09-26
	COMCAST CORP-CLASS A	P	2023-06-08	2024-07-22
	DEERE & CO	P	2023-06-08	2024-05-30
	PAYPAL HOLDINGS INC	P	2023-06-08	2024-12-05
	ALBEMARLE CORP	P	2023-07-25	2024-09-26
	ALBEMARLE CORP	P	2023-08-21	2024-09-26
	ALBEMARLE CORP	P	2023-11-16	2024-09-26
	ALBEMARLE CORP	P	2023-12-07	2024-09-26
	U S A TREAS BILLS 01/11/2024 DTD 07/13/2023 TO REDEMPTION	P	2024-01-11	2024-01-11
	ALBEMARLE CORP	P	2024-01-16	2024-09-26
	ADOBE INC	P	2024-04-24	2024-07-22
	ALBEMARLE CORP	P	2024-04-24	2024-09-26
	ORACLE CORP	P	2024-04-24	2024-06-17
	WALT DISNEY CO/THE	P	2024-07-22	2024-11-07
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-12-30
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-12-26
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-12-23
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-12-10
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-12-05
	ISHARES 0-3 MONTH TREASURY B	P	2024-11-18	2024-11-25
	AUTOMATIC DATA PROCESSING	P	2021-08-17	2024-09-10
	SOUTH BOW CORP CASH IN LIEU OF FRACTIONAL SHARES	P	2021-08-17	2024-10-17
	SOUTHERN COPPER CORP CASH IN LIEU OF FRACTIONAL SHARES	P	2021-08-17	2024-12-02
	SOUTHERN COPPER CORP CASH IN LIEU OF FRACTIONAL SHARES	P	2021-08-17	2024-09-09
	SOUTHERN COPPER CORP CASH IN LIEU OF FRACTIONAL SHARES	P	2021-08-17	2024-06-04

(e) Gross sales price	(f) Depreciation allowed (or allowable)	(h) Gain or (loss) (e) plus (f) minus (g)
a	393,094	397,087	-3,993
b	73,672	63,316	10,356
c	960,879	821,158	139,721
d	1,371,678	1,727,844	-356,166
e	149,027	198,793	-49,766
	406,950	552,324	-145,374
	801,740	475,254	326,486
	141,804	199,768	-57,964
	45,197	38,876	6,321
	1,199,489	782,986	416,503
	51,731	74,344	-22,613
	546,668	1,277,163	-730,495
	1,578,861	1,275,006	303,855
	753,279	1,102,369	-349,090
	966,592	1,723,677	-757,085
	316,240	249,931	66,309
	2,215,789	1,420,054	795,735
	294,153	303,930	-9,777
	87,267	98,984	-11,717
	760,456	1,054,086	-293,630
	398,836	434,487	-35,651
	154,266	325,507	-171,241
	208,675	325,574	-116,899
	521,988	1,014,410	-492,422
	831,824	639,660	192,164
	637,896	1,352,517	-714,621
	617,637	800,441	-182,804
	558,313	365,663	192,650
	612,422	434,622	177,800
	1,000,637	904,636	96,001
	1,000,148	926,889	73,259
	585,259	701,579	-116,320
	8,277	7,197	1,080
	469,650	398,978	70,672
	330,550	399,190	-68,640
	12,284	11,025	1,259
	3,479,434	2,448,581	1,030,853
	249,735	185,903	63,832
	713,393	526,032	187,361
	1,498,652	1,116,920	381,732
	2,990,921	2,226,180	764,741
	167,495	500,573	-333,078
	9,723	10,002	-279
	101,537	120,637	-19,100
	247,267	733,990	-486,723
	410,291	251,889	158,402
	158,994	97,611	61,383
	149,781	103,450	46,331
	254,856	174,062	80,794
	1,290,053	881,082	408,971
	14,514,398	14,645,964	-131,566
	11,791	10,710	1,081
	487,312	396,554	90,758
	450,933	400,875	50,058
	755	669	86
	212,326	501,655	-289,329
	244,886	250,166	-5,280
	239,373	248,124	-8,751
	693,459	500,321	193,138
	259,099	596,636	-337,537
	147,621	300,292	-152,671
	188,478	250,809	-62,331
	190,049	256,620	-66,571
	497,521	497,521	0
	146,881	199,479	-52,598
	409,854	351,309	58,545
	406,997	498,632	-91,635
	424,868	349,847	75,021
	214,315	203,394	10,921
	999,335	1,001,748	-2,413
	999,839	1,002,652	-2,813
	999,841	1,003,054	-3,213
	1,999,678	2,002,109	-2,431
	719,937	721,178	-1,241
	669,851	669,407	444
	995,977	769,362	226,615
	9		9
	34		34
	51		51
	26		26

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	25,530
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

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	230,598
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	230,598
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	230,598
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	252,979
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	252,979
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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.......	9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10	22,381
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax0	Refunded	11	22,381

(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
WILLIAM P CAREY II	PRESIDENT/CHAIRMAN/TRUSTEE 6.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
ZACHARY J PACK	CHIEF OPERATING OFFICER/DIRECTOR 1.00	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JOHN D MILLER	DIRECTOR 2.00	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JULIANA K HARRIS	SECRETARY/EXEC DIRECTOR/ASSI TREASURER 35.00	210,000	23,253	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
RYAN WILLSMORE	TREASURER 10.00	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JOHN SAMUEL ARMSTRONG IV	TRUSTEE 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
GWENDOLEN G BOND	TRUSTEE 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JASON E FOX	TRUSTEE 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
MICHAEL H CARPENTER	TRUSTEE 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JOHN J PARK	TRUSTEE 1.00	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
A PATTERSON PENDLETON III	TRUSTEE 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
WILLIAM BAST	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
RODNEY C BODEN	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
CHARLOTTE H CAREY	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
EMILY N CAREY	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
J MEADE CAREY	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
LAURA G CAREY	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
SUSAN C HYDE	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
FRANCES W MACMASTER	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
DONALD F MACMASTER JR	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
DOUGLAS S PARVIS	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
JUSTIN B PATTERSON	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
MARJORIE B TOMPKINS	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001
RICARDO A VASQUEZ	DIRECTOR 0.50	0	0	0
ONE MANHATTAN WEST 395 9TH AVE 58TH FL NEW YORK,NY10001

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
ADAPTIVE SPORTS FOUNDATION PO BOX 266100 SILVERMAN WAY WINDHAM,NY12496	NONE		CHARITABLE	1,000
ALEXANDRIA HOUSE 426 S ALEXANDRIA AVE LOS ANGELES,CA90020	NONE		CHARITABLE	4,000
AMERICAN ENTERPRISE INSTITUTE 1789 MASSACHUSETTS AVE NW WASHINGTON,DC20036	NONE		CHARITABLE	25,000
AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVE DALLAS,TX75231	NONE		CHARITABLE	103
AMERICAN PARKINSON DISEASE ASSOCIATION PO BOX 61420 STATEN ISLAND,NY10306	NONE		CHARITABLE	250
AMERICAN RED CROSS - LOS ANGELES 1450 SOUTH CENTRAL AVENUE LOS ANGELES,CA90021	NONE		CHARITABLE	6,000
ARIZONA STATE UNIVERSITY 300 E UNIVERSITY DRIVE TEMPE,AZ85281	NONE		CHARITABLE	5,000,000
BACK ON MY FEET PO BOX 71536 PHILADELPHIA,PA19176	NONE		CHARITABLE	100
BALTIMORE COMMUNITY FOUNDATION PO BOX 37422 BALTIMORE,MD21297	NONE		CHARITABLE	5,000
BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST 808 N CHARLES ST BALTIMORE,MD21201	NONE		CHARITABLE	2,500
BALTIMORE SCHOOL FOR THE ARTS FOUNDATION 712 CATHEDRAL STREET BALTIMORE,MD21201	NONE		CHARITABLE	5,500
BARNARD COLLEGE 3009 BROADWAY NEW YORK,NY10027	NONE		CHARITABLE	1,000
BEACON COLLEGE 105 EAST MAIN STREET LEESBURG,FL34748	NONE		CHARITABLE	2,500
BEACON UNITARIAN UNIVERSAL CONGREGATION 4 WALDRON AVE SUMMIT,NJ07901	NONE		CHARITABLE	50,000
BEYOND CELIAC PO BOX 544 AMBLER,PA19002	NONE		CHARITABLE	12,500
BILLION OYSTER PROJECT 10 SOUTH STREET SLIP 7 NEW YORK,NY10004	NONE		CHARITABLE	25,000
BOYS LATIN SCHOOL 822 WEST LAKE AVENUE BALTIMORE,MD21210	NONE		CHARITABLE	20,000
BRIGHAM YOUNG UNIVERSITY 730 N ELDON TANNER BLDG PROVO,UT84602	NONE		CHARITABLE	1,000
BROOKS SCHOOL 1160 GREAT POND RD NORTH ANDOVER,MA01845	NONE		CHARITABLE	500
BROWN UNIVERSITY PO BOX 1877 PROVIDENCE,RI02912	NONE		CHARITABLE	5,668
BRYN MAWR SCHOOL 109 WEST MELROSE AVE BALTIMORE,MD21210	NONE		CHARITABLE	5,000
CALVERT SCHOOL 105 TUSCANY RD BALTIMORE,MD21210	NONE		CHARITABLE	526,650
CANCERCRUSHER FOUNDATION 4 BLACKPOINT HORSESHOE RUMSON,NJ07760	NONE		CHARITABLE	3,250
CAREY INSTITUTE FOR GLOBAL GOOD 63 HUYCK RD RENSSEALERVILLE,NY12147	NONE		CHARITABLE	72,500
CHESTNUT HILL CONSERVANCY 8708 GERMANTOWN AVE PHILADELPHIA,PA19118	NONE		CHARITABLE	2,500
CHRISTIAN CONGREG OF JEHOVAH'S WITNESSES 675 RED MILLS RD WALLKILL,NY12589	NONE		CHARITABLE	150
CITY HARVEST INC 150 52ND STREET BROOKLYN,NY11232	NONE		CHARITABLE	8,212
CLEMSON UNIVERSITY PO BOX 1889 CLEMSON,SC29633	NONE		CHARITABLE	7,585
COVENANT HOUSE PO BOX 758636 TOPEKA,KS66675	NONE		CHARITABLE	100
DESALES UNIVERSITY 2755 STATION AVE CENTER VALLEY,PA18034	NONE		CHARITABLE	500
DEVILS YOUTH FOUNDATION INC 25 LAFAYETTE ST NEWARK,NJ07102	NONE		CHARITABLE	300
EN HUYCK PRESERVE INC PO BOX 1895052 DELAWARE TURNPIKE RENSSELAERVILLE,NY12147	NONE		CHARITABLE	10,500
ENOCH PRATT FREE LIBRARY 2001 N WOLFE ST BALTIMORE,MD21213	NONE		CHARITABLE	50,000
EPISCOPAL SCHOOL OF THE CITY OF NEW YORK 35 E 69TH STREET NEW YORK,NY10021	NONE		CHARITABLE	3,000
FERGUSON CHARITABLE FOUNDATION 123 WACKER DRIVE SUITE 2500 CHICAGO,IL60606	NONE		CHARITABLE	20,000
FORT HAMILTON HIGH SCHOOL 8301 SHORE RD BROOKLYN,NY11209	NONE		CHARITABLE	500
FOUNDATION FOR MORRISTOWN MEDICAL CENTER 310 SOUTH STREET 4TH FLOOR MORRISON,NJ07960	NONE		CHARITABLE	5,000
FRANKLIN INSTITUTE 222 N 20TH STREET PHILADELPHIA,PA19103	NONE		CHARITABLE	2,500
FRIENDS OF GRACE CHURCH SCHOOL 254 HICKS STREET BROOKLYN,NY11201	NONE		CHARITABLE	6,000
FRIENDS OF THE WISSAHICKON 40 WEST EVERGREEN AVESUITE 108 PHILADELPHIA,PA19118	NONE		CHARITABLE	2,500
FRIENDS SEMINARY 222 E 16TH STREET NEW YORK,NY10003	NONE		CHARITABLE	15,000
GARRISON FOREST SCHOOL 300 GARRISON FOREST RD OWINGS MILLS,MD21117	NONE		CHARITABLE	1,000
GERMANTOWN ACADEMY 340 MORRIS RD FORT WASHINGTON,PA19034	NONE		CHARITABLE	2,500
GIFT OF ADOPTION FUND PO BOX 567 TECHNY,IL60082	NONE		CHARITABLE	10,000
GILMAN SCHOOL 5407 ROLAND AVENUE BALTIMORE,MD21210	NONE		CHARITABLE	527,095
GODS LOVE WE DELIVER 166 AVENUE OF THE AMERICAS NEW YORK,NY10013	NONE		CHARITABLE	10,000
GROTON SCHOOL PO BOX 991 GROTON,MA01450	NONE		CHARITABLE	10,000
HAITIAN SUPPORT 3585 COUNTY ROAD 338 MELISSA,TX75454	NONE		CHARITABLE	2,551
HARLEM ACADEMY 655 SAINT NICHOLAS AVE NEW YORK,NY10030	NONE		CHARITABLE	14,000
HARLEM LACROSSE 8 WEST 126TH ST 3RD FLOOR NEW YORK,NY10027	NONE		CHARITABLE	250
HAVERFORD COLLEGE 370 LANCASTER AVE HAVERFORD,PA19041	NONE		CHARITABLE	7,500
HILLSDALE COLLEGE 33 E COLLEGE STREET HILLSDALE,MI49242	NONE		CHARITABLE	12,000
HOMEFRONT INC 1880 PRINCETON AVE LAWRENCEVILLE,NJ08648	NONE		CHARITABLE	1,250
HOMELESS SOLUTIONS INC 3 WING DRIVE SUITE 245 CEDAR KNOLLS,NJ07927	NONE		CHARITABLE	5,000
HORIZONS AT THE JERSEY SHORE PO BOX 52 RUMSON,NJ07760	NONE		CHARITABLE	1,500
I AM ALS 1200 PENNSYLVANIA AVE NW14135 WASHINGTON,DC20044	NONE		CHARITABLE	500
INTERNATIONAL MYELOMA FOUNDATION 4400 COLDWATER CANYON AVE VALLEY VILLAGE,CA91604	NONE		CHARITABLE	1,000
IRVINE NATURE CENTER 11201 GARRISON FOREST RD OWINGS MILLS,MD21117	NONE		CHARITABLE	10,000
JACOB'S LADDER INC PO BOX 3 URBANNA,VA23175	NONE		CHARITABLE	12,500
JOHNS HOPKINS HOSPITAL 750 EAST PRATT STREET17TH FLOOR BALTIMORE,MD21202	NONE		CHARITABLE	25,000
JOHNS HOPKINS UNIVERSITY 3400 N CHARLES ST BALTIMORE,MD21218	NONE		CHARITABLE	3,500,000
JUNIOR LEAGUE OF CITY OF NEW YORK INC M 130 E 80TH STREET NEW YORK,NY10075	NONE		CHARITABLE	100
KENNEDY KRIEGER FOUNDATION 707 NORTH BROADWAY BALTIMORE,MD21205	NONE		CHARITABLE	8,141
KINDLE HILL FOUNDATION PO BOX 559 GWYNEDD VALLEY,PA19437	NONE		CHARITABLE	5,000
LA JOLLA PLAYHOUSE PO BOX 12039 LA JOLLA,CA92039	NONE		CHARITABLE	5,000
LARCHMONT-MAMARONECK HUNGER TASK FORCE INC PO BOX 112 LARCHMONT,NY10538	NONE		CHARITABLE	150
LIBERTY THEATER PRESERVATION ALLIANCE PO BOX 1823 LEWISTON,ID83501	NONE		CHARITABLE	3,000
LIVING CLASSROOMS FOUNDATION 1417 THAMES STREET BALTIMORE,MD21231	NONE		CHARITABLE	25,000
MADISON CHRISTMAS COMMITTEE 74 KEEP STREET MADISON,NJ07940	NONE		CHARITABLE	1,500
MAHAIWE PERFORMING ARTS CENTER PO BOX 690 GREAT BARRINGTON,MA01230	NONE		CHARITABLE	7,500
MAINE COAST HERITAGE TRUST 1 BOWDOIN MILL ISLAND SUITE 201 TOPSHAM,ME04086	NONE		CHARITABLE	40,000
MAINEHEALTH MAINE MEDICAL CENTER PO BOX 626 BIDDEFORD,ME04005	NONE		CHARITABLE	12,500
MARKET STREET MISSION 9 MARKET STREET MORRISTOWN,NJ07960	NONE		CHARITABLE	1,000
MARYLAND CENTER FOR HISTORY AND CULTURE 201 W MONUMENT STREET BALTIMORE,MD21201	NONE		CHARITABLE	5,000
MEMORIAL SLOANE KETTERING CANCER CENTER PO BOX 27432 NEW YORK,NY10087	NONE		CHARITABLE	31,850
MERCADO GLOBAL 254 36TH STREETSUITE C-308 UNIT 41 BROOKLYN,NY11232	NONE		CHARITABLE	1,021
MIDDLEBURY COLLEGE 219 S MAIN STREET MIDDLEBURY,VT05753	NONE		CHARITABLE	1,000
MONTESSORI ASSOCIATION OF NEW YORK 416 E 80TH STREET NEW YORK,NY10075	NONE		CHARITABLE	311
MORRIS ARBORETUM 100 E NORTHWESTERN AVE PHILADELPHIA,PA19118	NONE		CHARITABLE	2,500
MUSICARES 3030 OLYMPIC BLVD SANTA MONICA,CA90404	NONE		CHARITABLE	1,000
NAMI NATIONAL ALLIANCE FOR MENTAL ILLNESS 2601 N HOWARD ST SUITE 130 BALTIMORE,MD21218	NONE		CHARITABLE	5,683
NATIONAL CENTER FOR THE AMERICAN REVOLUTION 101 S 3RD STREET PHILADELPHIA,PA19106	NONE		CHARITABLE	12,500
NATIONAL HERITAGE TRUST 625 BROADWAY 3RD FLOOR ALBANY,NY12207	NONE		CHARITABLE	250
NEW YORK COMMON PANTRY 8 E 109TH STREET NEW YORK,NY10029	NONE		CHARITABLE	101
NEW YORK PRESBYTERIAN HOSPITAL 525 E 68TH STREET BOX 123 NEW YORK,NY10065	NONE		CHARITABLE	5,107,500
NOTRE DAME HIGH SCHOOL 601 LAWRENCE RD LAWRENCEVILLE,NJ08648	NONE		CHARITABLE	2,500
OUR LADY OF CZESTOCHOWA CHURCH 120 SUSSEX ST JERSEY CITY,NJ07302	NONE		CHARITABLE	110
PART OF THE SOLUTION INC (POTS) 2759 WEBSTER AVENUE BRONX,NY10458	NONE		CHARITABLE	250
PARTNERSHIP TO END ADDICTION 711 THIRD AVE 5TH FLOOR NEW YORK,NY10017	NONE		CHARITABLE	300
PHILADELPHIA MUSEUM OF ART TRUSTEE GIFT 2600 BENJAMIN FRANKLIN PARKWAY PHILADELPHIA,PA19130	NONE		CHARITABLE	2,500
POMFRET SCHOOL PO BOX 128 POMFRET,CT06258	NONE		CHARITABLE	250,000
PROUTS NECK ASSOCIATION 499 BLACK POINT ROAD SCARBOROUGH,ME04074	NONE		CHARITABLE	2,500
PROUTS NECK AUDUBON SOCIETY 499 BLACK POINT ROAD SCARBOROUGH,ME04074	NONE		CHARITABLE	2,500
RENSSELAERVILLE HISTORICAL SOCIETY PO BOX 8 RENSSELAERVILLE,NY12147	NONE		CHARITABLE	7,500
RENSSELAERVILLE LIBRARY 1459 COUNTY ROUTE 351PO BOX 188 RENSSELAERVILLE,NY12147	NONE		CHARITABLE	20,000
RENSSELAERVILLE PRESBYTERIAN CHURCH PO BOX 47 RENSSELAERVILLE,NY12147	NONE		CHARITABLE	7,500
RENSSELAERVILLE VOLUNTEER FIRE DEPT PO BOX 134 RENSSELAERVILLE,NY12147	NONE		CHARITABLE	25,000
RISING TIDE EFFECT 165 COURT ST 117 BROOKLYN,NY11201	NONE		CHARITABLE	250
SALK INSTITUTE FOR BIOLOGICAL STUDIES 10010 N TORREY PINES RD LA JOLLA,CA92037	NONE		CHARITABLE	10,000
SANFORD BURNHAM PREBYS 10901 NORTH TORREY PINES RD LA JOLLA,CA92037	NONE		CHARITABLE	5,000
SCRIPPS RESEARCH INSTITUTE 10550 N TORREY PINES RD TPC 2 LA JOLLA,CA92037	NONE		CHARITABLE	10,000
SOLAR SOCCER CLUB 107 SUNCREEK DRIVESUITE 300 ALLEN,TX75013	NONE		CHARITABLE	4,000
SPRINGSIDE CHESTNUT HILL ACADEMY TRUSTEE 500 WEST WILLOW GROVE AVE PHILADELPHIA,PA19118	NONE		CHARITABLE	15,000
ST HUBERT'S ANIMAL WELFARE CENTER PO BOX 159575 WOODLAND AVE MADISON,NJ07940	NONE		CHARITABLE	500
ST JUDE CHILDREN'S RESEARCH HOSPITAL M 501 ST JUDE PLACE MEMPHIS,TN38105	NONE		CHARITABLE	1,000
ST MARTIN'S IN THE FIELD PO 274 BIDDEFORD POOL,ME04006	NONE		CHARITABLE	5,000
ST THOMAS CHURCH GARRISON MATCHING 232 ST THOMAS LANE OWINGS MILLS,MD21117	NONE		CHARITABLE	5,222
ST THOMAS CHURCH WHITEMARSH 7020 CAMP HILL ROAD FORT WASHINGTON,PA19034	NONE		CHARITABLE	2,500
STANFORD UNIVERSITY PO BOX 20466 SANFORD,CA94309	NONE		CHARITABLE	2,500
STUDENT SPONSOR PARTNERS 90 BROAD STREET SUITE 400 NEW YORK,NY10004	NONE		CHARITABLE	46,050
SYRACUSE UNIVERSITY COLLEGE OF LAW 640 SKYTOP RD ROOM 240 SYRACUSE,NY13244	NONE		CHARITABLE	2,500
THE AMERICAN CANCER SOCIETY 132 E 32ND STREET NEW YORK,NY10001	NONE		CHARITABLE	7,500
THE DWIGHT SCHOOL FOUNDATION 291 CENTRAL PARK WEST NEW YORK,NY10024	NONE		CHARITABLE	2,500
THE FIELD 228 PARK AVESUITE 97217 NEW YORK,NY10002	NONE		CHARITABLE	538
THE FRIENDS OF CONKLING HALL INC 8 METHODIST HILL RD RENSSELAERVILLE,NY12147	NONE		CHARITABLE	20,000
THE NEW YORK FOUNDLING 590 AVE OF THE AMERICAS NEW YORK,NY10011	NONE		CHARITABLE	500
THE OLANA PARTNERSHIP PO BOX 199 HUDSON,NY12534	NONE		CHARITABLE	500
THE OPEN LINK 452 PENN STREET PENNSBURG,PA18073	NONE		CHARITABLE	5,000
THE TAFT SCHOOL 110 WOODBURY RD WATERTOWN,CT06795	NONE		CHARITABLE	500
THIRD OPTION FOUNDATION 11160-C1 SOUTH LAKES DRIVE158 RESTON,VA20191	NONE		CHARITABLE	40,000
TRENTON AREA SOUP KITCHEN 72 1/2 ESCHER STREETPO BOX 872 TRENTON,NJ08605	NONE		CHARITABLE	1,250
TRINITY COLLEGE 300 SUMMIT STREET HARTFORD,CT06106	NONE		CHARITABLE	1,000
TRINITY EPISCOPAL CHURCH RENSSELAERVILLE PO BOX 86 RENSSELAERVILLE,NY12147	NONE		CHARITABLE	7,500
TUNNEL TO TOWERS FOUNDATION 2361 HYLAN BLVD STATEN ISLAND,NY10306	NONE		CHARITABLE	100
US FUND FOR UNICEF TRUSTEE GIFT 125 MAIDEN LANE NEW YORK,NY10038	NONE		CHARITABLE	6,000
UC SAN DIEGO FOUNDATION 9500 GILMAN DRIVE MC 0940 LA JOLLA,CA92093	NONE		CHARITABLE	45,000
UNITED STATES SOCCER FOUNDATION INC 1140 CONNECTICUT AVE NWSUITE 1200 WASHINGTON,DC20036	NONE		CHARITABLE	30,263
UNIVERSITY OF COLORADO FOUNDATION PO BOX 17126 DENVER,CO80217	NONE		CHARITABLE	10,000
UNIVERSITY OF NOTRE DAME 1100 GRACE HALL NOTRE DAME,IN46556	NONE		CHARITABLE	15,000
UNIVERSITY OF PENNSYLVANIA 3535 MARKET STREET SUITE 750 PHILADELPHIA,PA19104	NONE		CHARITABLE	7,500,000
UNIVERSITY OF PENNSYLVANIA MEDICINE 3535 MARKET STREET SUITE 750 PHILADELPHIA,PA19104	NONE		CHARITABLE	52,356
UNIVERSITY OF PENNSYLVANIA WEITZMAN 102 MEYERSON HALL210 S 34TH STREET PHILADELPHIA,PA19104	NONE		CHARITABLE	2,500
UNIVERSITY OF THE SOUTH - SEWANEE 735 UNIVERSITY AVENUE SEWANEE,TN37383	NONE		CHARITABLE	5,000
UNIVERSITY OF VIRGINIA 2420 OLD IVY RD CHARLOTTESVILLE,VA22903	NONE		CHARITABLE	2,901
VASSAR COLLEGE 161 COLLEGE AVE POUGHKEEPSIE,NY12603	NONE		CHARITABLE	7,500
VOLUNTEERS OF AMERICA - GREATER NY 135 W 50TH ST 9TH FL NEW YORK,NY10020	NONE		CHARITABLE	5,870
WEST POINT SOCIETY OF NORTH TEXAS 2101 CEDAR SPRINGS RDSTE 900 DALLAS,TX75201	NONE		CHARITABLE	1,750
WISSAHICKON TRAILS 12 MORRIS RD AMBLER,PA19002	NONE		CHARITABLE	2,500
WOODMERE ART MUSEUM 9201 GERMANTOWN AVE PHILADELPHIA,PA19118	NONE		CHARITABLE	2,500
WORK TO RIDE INC 98 CHAMOUNIX DRIVE PHILADELPHIA,PA19131	NONE		CHARITABLE	15,000
ZOOLOGICAL SOCIETY OF PHILADELPHIA 3400 W GIRARD AVENUE PHILADELPHIA,PA19104	NONE		CHARITABLE	1,002,500
Total ................................. 3a				24,564,331

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
NONE

	(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7				25,524,113
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......			56,581
b Total for prior years:20 , 20, 20		0
3 Excess distributions carryover, if any, to 2024:
a From 2019......
b From 2020......
c From 2021......
d From 2022......
e From 2023......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2024 from Part
XI, line 4: $ 25,025,595
a Applied to 2023, but not more than line 2a			56,581
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.....				24,969,014
e Remaining amount distributed out of corpus	0
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	0
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 ..........				555,099
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 ......	0
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....
d Excess from 2023....
e Excess from 2024....

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

bApproved for future payment
INFORMATION AVAILABLE UPON REQUEST 395 9TH AVE 58TH FLOOR NEW YORK,NY10001	NONE	CHARITABLE	104,500,000
Total ................................. 3b			104,500,000

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 ...........
4 Dividends and interest from securities ....			14	17,984,890
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 .....			14	206,377
8 Gain or (loss) from sales of assets other than inventory ............			18	25,530
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		18,216,797	0

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			-3,993
b			10,356
c			139,721
d			-356,166
e			-49,766
			-145,374
			326,486
			-57,964
			6,321
			416,503
			-22,613
			-730,495
			303,855
			-349,090
			-757,085
			66,309
			795,735
			-9,777
			-11,717
			-293,630
			-35,651
			-171,241
			-116,899
			-492,422
			192,164
			-714,621
			-182,804
			192,650
			177,800
			96,001
			73,259
			-116,320
			1,080
			70,672
			-68,640
			1,259
			1,030,853
			63,832
			187,361
			381,732
			764,741
			-333,078
			-279
			-19,100
			-486,723
			158,402
			61,383
			46,331
			80,794
			408,971
			-131,566
			1,081
			90,758
			50,058
			86
			-289,329
			-5,280
			-8,751
			193,138
			-337,537
			-152,671
			-62,331
			-66,571
			0
			-52,598
			58,545
			-91,635
			75,021
			10,921
			-2,413
			-2,813
			-3,213
			-2,431
			-1,241
			444
			226,615
			9
			34
			51
			26


(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

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.

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ALBEMARLE CORP	2,160,952	2,160,952
ALPHABET INC CL C	5,883,834	5,883,834
AMAZON COM INC	7,122,935	7,122,935
AMGEN INC	2,782,592	2,782,592
APPLE INC	4,614,489	4,614,489
BHP GROUP LTD	3,699,897	3,699,897
BERKSHIRE HATHAWAY INC CL B	10,467,595	10,467,595
BLACKROCK INC	1,613,523	1,613,523
CANADIAN NATURAL RESOURCES	3,879,927	3,879,927
CHENIERE ENERGY INC	7,640,347	7,640,347
CHEVRON CORP	3,127,096	3,127,096
CISCO SYSTEMS INC	1,861,958	1,861,958
CONOCOPHILLIPS	2,627,707	2,627,707
CONSTELLATION SOFTWARE INC	2,203,602	2,203,602
DANAHER CORP	841,301	841,301
DEERE & CO	2,525,676	2,525,676
ENBRIDGE INC	7,215,349	7,215,349
EOG RESOURCES INC	813,196	813,196
EXXON MOBIL CORP	1,068,708	1,068,708
FREEPORT MCMORAN INC	1,665,010	1,665,010
HOME DEPOT INC	3,124,757	3,124,757
HONEYWELL INTERNATIONAL INC	2,083,158	2,083,158
INTEL CORP	1,189,346	1,189,346
JOHNSON & JOHNSON	3,044,974	3,044,974
MASTERCARD INC	5,019,792	5,019,792
MEDTRONIC PLC	1,861,524	1,861,524
META PLATFORMS INC	4,819,918	4,819,918
MICROSOFT CORP	4,133,229	4,133,229
NET LEASE OFFICE PROPERTY	6,552,664	6,552,664
PFIZER INC	1,382,850	1,382,850
RIO TINTO PLC A D R	3,791,951	3,791,951
SCHLUMBERGER LTD	1,830,620	1,830,620
SCHWAB (CHARLES) CORP	1,407,226	1,407,226
SOUTHERN COPPER CORP DEL	3,465,674	3,465,674
TC ENERGY CORP	7,270,638	7,270,638
VALE SA	3,671,799	3,671,799
VERIZON COMMUNICATIONS INC	962,959	962,959
VISA INC CLASS A SHARES	4,989,007	4,989,007
W.P CAREY INC	170,750,344	170,750,344
WILLIAMS COS INC	1,745,586	1,745,586
ARCHER-DANIELS-MIDLAND CO	871,672	871,672
CREDIT ACCEPTANCE CORP	4,827,457	4,827,457
DOLLAR GENERAL CORP	438,619	438,619
GOLDMAN SACHS GROUP INC	652,787	652,787
LOWE'S COS INC	597,256	597,256
LPL FINANCIAL HOLDINGS INC	739,874	739,874
MARKEL GROUP INC	5,187,321	5,187,321
PAYCOM SOFTWARE INC	4,255,177	4,255,177
SOUTH BOW CORP	736,586	736,586
TOTALENERGIES SE	2,157,219	2,157,219
DIMENSIONAL INTERNATIONAL SM	3,396,045	3,396,045

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BDT CAPITAL PARTNERS FUND 4 (INT) LP	FMV	4,224,725	4,224,725
EFT WORLD GOLD TR BE	FMV	27,957,207	27,957,207
IHP CO-INVEST I-A, LP	FMV	2,956,335	2,956,335
IHP CO-INVEST II-A, LP	FMV	675,247	675,247
IHP CO-INVEST II-B, LP	FMV	196,644	196,644
IHP CO-INVEST III, LP	FMV	1,567,037	1,567,037
IHP CO-INVEST IV, LP	FMV	1,897,828	1,897,828
IHP CO-INVEST IV-A, LP	FMV	1,120,977	1,120,977
IHP CO-INVEST V, LP	FMV	599,799	599,799
IHP CO-INVEST VI, LP	FMV	2,032,313	2,032,313
INNOVA HEALTH PARTNERS FUND, LP	FMV	3,199,158	3,199,158
ISHARES BIOTECHNOLOGY ETF	FMV	2,227,342	2,227,342
SPDR S&P BIOTECH ETF	FMV	2,585,713	2,585,713
VANGUARD FTSE EMERGING MARKETS IND	FMV	18,443,115	18,443,115
VANGUARD FTSE EUROPE ETF	FMV	8,026,226	8,026,226
VANGUARD FTSE PACIFIC ETF	FMV	15,219,681	15,219,681
VANGUARD MID-CAP ETF	FMV	1,166,398	1,166,398
VANGUARD S&P SMALL-CAP 600 E	FMV	3,982,968	3,982,968
AVANTIS US SMALL CAL VALUE	FMV	2,013,133	2,013,133
DIMENSIONAL US SMALL CAP VAL	FMV	3,277,670	3,277,670
AVANTIS INTL S/C VALUE ETF	FMV	2,018,066	2,018,066
IHP CO-INVEST III-A. LP	FMV	1,005,670	1,005,670
IHP CO-INVEST V-A, LP	FMV	135,065	135,065
IHP CO-INVEST VI-A, LP	FMV	298,888	298,888
MAROON & BLACK HOLDINGS	AT COST	499,999	499,999

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
INSURANCE	19,000	0	19,000
INVESTMENT EXPENSES	1,432,661	1,432,661	0
PAYROLL FEES	3,500	0	3,500
OFFICE EXPENSE	133	0	133

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FEDERAL 990-PF EXCISE TAX	225,000	0	0
FOREIGN TAXES	194,379	194,379	0
PAYROLL TAX	14,626	0	14,626

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
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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.)

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