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
LINCOLN M KNORR RESID TR XXXXX3009
 
Number and street (or P.O. box number if mail is not delivered to street address)10 S DEARBORN IL1-0111
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60603
A Employer identification number

38-6725549
B Telephone number (see instructions)

(800) 496-2583
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$37,013,755J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 786,289 786,289  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 725,677
b Gross sales price for all assets on line 6a 3,692,470
7 Capital gain net income (from Part IV, line 2)... 725,677
8 Net short-term capital gain......... 0
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)....... Click to see attachment
List of Attached Documents:
// Content
19,338 19,338  
12 Total. Add lines 1 through 11........ 1,531,304 1,531,304  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 216,620 144,414   72,206
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
5,452 5,452   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
32,849 9,408   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
111 111    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 255,032 159,385 0 72,206
25 Contributions, gifts, grants paid....... 1,600,000 1,600,000
26 Total expenses and disbursements. Add lines 24 and 25 1,855,032 159,385 0 1,672,206
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -323,728
b Net investment income (if negative, enter -0-) 1,371,919
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............. 5,737 14,480 14,480
2 Savings and temporary cash investments......... 726,894 685,564 685,564
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 11,596,507 Click to see attachment
List of Attached Documents:
// Content
10,887,385 		18,082,747
c Investments—corporate bonds (attach schedule)....... 5,654,572 Click to see attachment
List of Attached Documents:
// Content
6,270,524 		6,078,646
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,921,402 Click to see attachment
List of Attached Documents:
// Content
7,714,073 		12,152,318
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,905,112 25,572,026 37,013,755
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
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........ 25,905,112 25,572,026
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 25,905,112 25,572,026
30 Total liabilities and net assets/fund balances (see instructions). 25,905,112 25,572,026
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
25,905,112
2
Enter amount from Part I, line 27a .....................
2
-323,728
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
19,356
4
Add lines 1, 2, and 3 ..........................
4
25,600,740
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
28,714
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
25,572,026
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 65. MICRON TECHNOLOGY INC     2024-01-02
b 32. SAP AKTIENGESELLSCHAFT SPNSD ADR     2024-01-02
c 1. MICRON TECHNOLOGY INC   2023-03-16 2024-01-03
d 86. MICRON TECHNOLOGY INC     2024-01-03
e 29. SAP AKTIENGESELLSCHAFT SPNSD ADR   2022-01-25 2024-01-03
82. MICRON TECHNOLOGY INC   2023-03-16 2024-01-04
29. SAP AKTIENGESELLSCHAFT SPNSD ADR     2024-01-04
66. SAP AKTIENGESELLSCHAFT SPNSD ADR     2024-01-25
65. SAP AKTIENGESELLSCHAFT SPNSD ADR     2024-01-26
7. UNITEDHEALTH GROUP INC   2023-03-16 2024-02-05
13. UNITEDHEALTH GROUP INC   2023-02-03 2024-02-05
9562. VANGUARD TOTAL INTL BOND ETF   2023-02-16 2024-02-06
699. VANGUARD MORTGAGE-BACKED SEC     2024-02-06
6782. VANGUARD MORTGAGE-BACKED SEC     2024-02-06
942. ISHARES MSCI WORLD ETF   2022-05-03 2024-03-15
1370. ISHARES TR S & P MIDCAP 400 INDEX FD     2024-03-15
274. SPDR TR UNIT SER 1   2014-02-13 2024-03-15
23. CDW CORP/DE     2024-04-05
12. CDW CORP/DE     2024-04-08
13. CDW CORP/DE     2024-04-09
17. EATON CORP PLC   2019-12-03 2024-04-09
36. EATON CORP PLC     2024-04-10
25. EATON CORP PLC   2019-11-22 2024-04-11
19. SONY CORP AMERICAN SH NEW   2023-01-12 2024-05-03
40. SONY CORP AMERICAN SH NEW     2024-05-06
25. SONY CORP AMERICAN SH NEW     2024-05-07
44. SONY CORP AMERICAN SH NEW     2024-05-08
50. SONY CORP AMERICAN SH NEW   2022-11-02 2024-05-09
. CASH RECEIPT SECURITIES LITIGATION     2024-05-09
25. SONY CORP AMERICAN SH NEW     2024-05-10
25. SONY CORP AMERICAN SH NEW   2020-04-20 2024-05-13
21. SONY CORP AMERICAN SH NEW     2024-05-14
50. SONY CORP AMERICAN SH NEW     2024-05-15
83. MICRON TECHNOLOGY INC     2024-05-30
47. NORTHERN TR CORP     2024-05-30
40. NORTHERN TR CORP     2024-05-31
. KONINKLIJKE PHILIPS ELECTRS N V NEW     2024-06-04
50. MICRON TECHNOLOGY INC   2020-10-30 2024-06-20
25. NORTHERN TR CORP     2024-08-07
25. NORTHERN TR CORP     2024-08-08
32. NORTHERN TR CORP     2024-08-09
26. NORTHERN TR CORP     2024-08-12
20. NORTHERN TR CORP   2020-02-28 2024-08-13
144. ALPHABET INC-CL A     2024-08-21
290. DOLLAR GENERAL CORP     2024-08-29
80. ALPHABET INC-CL A     2024-09-03
390. ARAMARK     2024-09-03
65. AVERY DENNISON CORP     2024-09-03
40. BERKSHIRE HATHAWAY INC DEL CL B   2012-01-18 2024-09-03
8. BLACKROCK INC     2024-09-03
4. BOOKING HOLDINGS INC     2024-09-03
20. CDW CORP/DE     2024-09-03
35. CARLISLE COS INC     2024-09-03
165. CARMAX INC     2024-09-03
180. CARRIER GLOBAL CORP     2024-09-03
75. DOLLAR TREE INC   2024-04-05 2024-09-03
85. FERGUSON ENTERPRISES INC     2024-09-03
270. FRESENIUS MED CARE SPONS ADR     2024-09-03
370. KONINKLIJKE PHILIPS ELECTRS N V NEW     2024-09-03
205. MASCO CORP     2024-09-03
80. MICRON TECHNOLOGY INC     2024-09-03
50. NORTHERN TR CORP     2024-09-03
6. O'REILLY AUTOMOTIVE INC   2024-05-30 2024-09-03
95. OMNICOM GROUP     2024-09-03
50. PROGRESSIVE CORP OHIO     2024-09-03
75. QUEST DIAGNOSTICS INC     2024-09-03
115. SCHLUMBERGER LTD     2024-09-03
245. SCHWAB CHARLES CORP NEW     2024-09-03
265. SMITH & NEPHEW PLC SPONS ADR NEW     2024-09-03
115. SONY CORP AMERICAN SH NEW     2024-09-03
125. SYSCO CORP     2024-09-03
35. TJX COS INC NEW     2024-09-03
32. UNILEVER PLC   2024-01-30 2024-09-03
188. UNILEVER PLC     2024-09-03
22. UNITEDHEALTH GROUP INC     2024-09-03
85. ARCH CAPITAL GROUP LTD     2024-09-03
7. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-19
25. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-20
20. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-23
15. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-24
15. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-25
19. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-26
19. ARCH CAPITAL GROUP LTD   2021-01-08 2024-09-27
6. CARLISLE COS INC   2022-06-27 2024-10-08
8. CARLISLE COS INC     2024-10-09
58. NORTHERN TR CORP     2024-10-24
29. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-24
57. NORTHERN TR CORP   2019-08-15 2024-10-25
29. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-25
33. NORTHERN TR CORP     2024-10-28
23. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-28
24. NORTHERN TR CORP   2020-03-05 2024-10-29
17. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-29
11. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-30
21. ARCH CAPITAL GROUP LTD   2021-01-08 2024-10-31
23. ARCH CAPITAL GROUP LTD   2021-01-08 2024-11-01
5. CARLISLE COS INC     2024-11-25
6. CARLISLE COS INC     2024-11-26
4. CARLISLE COS INC   2022-04-05 2024-11-27
3. CARLISLE COS INC   2022-04-05 2024-12-02
3. CARLISLE COS INC   2022-04-05 2024-12-03
3. CARLISLE COS INC   2022-04-05 2024-12-04
3884. JPMORGAN BETABUILDERS EUROPE ETF   2023-02-16 2024-12-05
1725. JPMORGAN BETABUILDERS EUROPE ETF   2024-03-04 2024-12-05
4222. JPMORGAN BETABUILDERS EUROPE ETF     2024-12-05
181. OMNICOM GROUP     2024-12-09
144. OMNICOM GROUP     2024-12-10
4. CARLISLE COS INC     2024-12-17
4. CARLISLE COS INC   2022-06-24 2024-12-18
4. CARLISLE COS INC     2024-12-19
4. CARLISLE COS INC   2022-03-14 2024-12-20
5. CARLISLE COS INC   2022-03-14 2024-12-23
1. CRP VIII (CARLYLE) PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF   2023-01-01 2024-12-31
1. BSREP III (BROOKFIELD) PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF   2023-01-01 2024-12-31
1. RIVERSTONE GLOBAL ENERGY AND POWER PRIVATE INVESTORS V, LP (OFFSHOR   2023-01-01 2024-12-31
1. BREP IX PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A -   2023-01-01 2024-12-31
1. DFJ GROWTH 2013 PRIVATE INVESTORS OFFSHORE, L.P. CLASS A -   2023-01-01 2024-12-31
1. KKR NORTH AMERICA XI PRIVATE INVESTORS OFFSHORE CLASS A NON SELF   2023-01-01 2024-12-31
1. CD&R FUND X PRIVATE INVESTORS CAYMAN, LP (NON-SELF DEALING   2023-01-01 2024-12-31
1. ARES PCS PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF DEALING FIDUCIA   2023-01-01 2024-12-31
1. WP GROWTH PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A -   2023-01-01 2024-12-31
1. AP X PRIVATE INVESTORS OFFSHORE, L.P. - CLASS A - NON-SELF DEALING   2023-01-01 2024-12-31
1. SILVER LAKE PARTNERS IV (SLP IV) PRIVATE INVESTORS, L.P. (OFFSHORE   2023-01-01 2024-12-31
1. STARWOOD SOF XI PRIVATE INVESTORS OFFSHORE 2, L.P. (NON-SELF DEALIN   2023-01-01 2024-12-31
1. STARWOOD SOF XI PRIVATE INVESTORS OFFSHORE 2, L.P. (NON-SELF DEALIN   2023-01-01 2024-12-31
1. BREP ASIA II PRIVATE INVESTORS OFFSHORE, L.P. (NON-SELF DEALING   2023-01-01 2024-12-31
1. DOLLAR SENIOR LOAN OFFSHORE FUND II, LTD. CLASS A SHARES (DISTRIBUT   2023-01-01 2024-12-31
1. THIRD POINT OFFSHORE FUND, LTD. CLASS F - PARTICIPATION NOTE - NEW   2023-01-01 2024-12-31
1. VARDE CREDIT PARTNERS (OFFSHORE), LTD. CLASS J - NEW ISSUES   2023-01-01 2024-12-31
1. ASF VIII PRIVATE INVESTORS OFFSHORE, SICAV-RAIF S.C.SP. - CLASS A -   2023-01-01 2024-12-31
1. ASF VIII INFRASTRUCTURE PRIVATE INVESTORS OFFSHORE SICAV-RAIF   2023-01-01 2024-12-31
1. ASF IX PRIVATE INVESTORS OFFSHORE SICAV-RAIF S.C.SP. - CLASS A   2023-01-01 2024-12-31
1. EQT INFRASTRUCTURE V PRIVATE INVESTORS OFFSHORE SICAV-RAIF S.C.SP   2023-01-01 2024-12-31
1. NEW MOUNTAIN PARTNERS VII PRIVATE INVESTORS OFFSHORE, LP - CLASS A   2023-01-01 2024-12-31
1. SOF XII PRIVATE INVESTORS OFFSHORE 2 , L.P. - CLASS A - NON-SELF DE   2023-01-01 2024-12-31
1. SVSS V PRIVATE INVESTORS OFFSHORE, L.P - CLASS A NON-SELF DEALING   2023-01-01 2024-12-31
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(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 5,384   4,707 677
b 4,805   4,221 584
c 82   56 26
d 7,071   5,421 1,650
e 4,348   3,824 524
6,809   4,573 2,236
4,332   3,331 1,001
11,504   6,687 4,817
11,278   6,355 4,923
3,526   3,297 229
6,548   6,152 396
466,324   459,980 6,344
31,913   30,516 1,397
309,630   365,380 -55,750
133,504   111,603 21,901
80,096   68,412 11,684
139,688   49,999 89,689
5,862   4,082 1,780
3,058   2,121 937
3,296   2,294 1,002
5,338   1,553 3,785
11,336   3,270 8,066
7,930   2,266 5,664
1,604   1,631 -27
3,388   3,427 -39
2,046   2,135 -89
3,450   3,506 -56
3,859   3,617 242
50     50
1,883   1,659 224
1,906   1,601 305
1,703   1,343 360
4,160   3,153 1,007
10,512   4,245 6,267
3,888   4,567 -679
3,346   3,836 -490
13     13
7,244   2,494 4,750
2,089   2,386 -297
2,091   2,272 -181
2,692   2,792 -100
2,164   2,253 -89
1,666   1,730 -64
23,875   17,659 6,216
24,923   27,899 -2,976
12,720   9,256 3,464
14,162   13,415 747
14,344   11,543 2,801
19,164   3,144 16,020
7,105   4,774 2,331
15,360   7,115 8,245
4,399   3,517 882
14,177   8,714 5,463
13,740   17,929 -4,189
12,644   8,158 4,486
6,270   9,798 -3,528
17,174   11,628 5,546
5,185   11,325 -6,140
11,058   16,227 -5,169
16,077   7,488 8,589
7,183   3,848 3,335
4,511   4,324 187
6,815   5,797 1,018
9,485   6,881 2,604
12,632   6,413 6,219
11,786   10,560 1,226
4,843   4,390 453
15,856   16,130 -274
8,139   9,951 -1,812
11,070   10,439 631
9,817   9,191 626
4,113   1,202 2,911
2,079   1,570 509
12,215   9,683 2,532
13,165   3,569 9,596
9,654   3,069 6,585
781   253 528
2,811   902 1,909
2,272   722 1,550
1,699   541 1,158
1,695   541 1,154
2,143   686 1,457
2,152   686 1,466
2,777   1,479 1,298
3,731   1,966 1,765
5,943   5,007 936
3,111   1,047 2,064
5,727   4,889 838
3,056   1,047 2,009
3,355   2,665 690
2,436   830 1,606
2,458   1,930 528
1,793   614 1,179
1,158   397 761
2,089   758 1,331
2,223   830 1,393
2,351   1,226 1,125
2,772   1,470 1,302
1,828   969 859
1,360   727 633
1,340   727 613
1,318   727 591
228,654   206,241 22,413
101,480   99,941 1,539
248,376   220,233 28,143
16,931   12,809 4,122
13,389   9,628 3,761
1,620   965 655
1,577   953 624
1,518   949 569
1,517   939 578
1,878   1,174 704
31,823   34,375 -2,552
34,152   36,776 -2,624
106,158   107,174 -1,016
9,583   16,267 -6,684
45,167   1,747 43,420
15,679   7,974 7,705
146,486   29,776 116,710
59,136   59,331 -195
103,731   107,963 -4,232
10,345   11,422 -1,077
93,655   6,584 87,071
12,961   5,792 7,169
29,370   29,919 -549
18,664   21,925 -3,261
38,914   1 38,913
1   8 -7
399,862   309,587 90,275
37,276   37,796 -520
5,493   6,172 -679
31,608   31,035 573
19,166   19,925 -759
1   1,675 -1,674
1   279 -278
1   469 -468
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
      62,762
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       677
b       584
c       26
d       1,650
e       524
      2,236
      1,001
      4,817
      4,923
      229
      396
      6,344
      1,397
      -55,750
      21,901
      11,684
      89,689
      1,780
      937
      1,002
      3,785
      8,066
      5,664
      -27
      -39
      -89
      -56
      242
      50
      224
      305
      360
      1,007
      6,267
      -679
      -490
      13
      4,750
      -297
      -181
      -100
      -89
      -64
      6,216
      -2,976
      3,464
      747
      2,801
      16,020
      2,331
      8,245
      882
      5,463
      -4,189
      4,486
      -3,528
      5,546
      -6,140
      -5,169
      8,589
      3,335
      187
      1,018
      2,604
      6,219
      1,226
      453
      -274
      -1,812
      631
      626
      2,911
      509
      2,532
      9,596
      6,585
      528
      1,909
      1,550
      1,158
      1,154
      1,457
      1,466
      1,298
      1,765
      936
      2,064
      838
      2,009
      690
      1,606
      528
      1,179
      761
      1,331
      1,393
      1,125
      1,302
      859
      633
      613
      591
      22,413
      1,539
      28,143
      4,122
      3,761
      655
      624
      569
      578
      704
      -2,552
      -2,624
      -1,016
      -6,684
      43,420
      7,705
      116,710
      -195
      -4,232
      -1,077
      87,071
      7,169
      -549
      -3,261
      38,913
      -7
      90,275
      -520
      -679
      573
      -759
      -1,674
      -278
      -468
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 725,677
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 19,070
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 19,070
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 19,070
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 13,785
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 13,785
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 5,285
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 arrow0 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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMI
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 .Click to see attachment
List of Attached Documents:
// Content
8b
 
No
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowJP MORGAN CHASE BANK NA Telephone no.right arrow (800) 496-2583

Located atright arrow10 S DEARBORN ST MC IL 1-0111CHICAGOIL ZIP+4right arrow60603
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
JP MORGAN CHASE BANK NA TRUSTEE
2 		216,620    
10 S DEARBORN ST MC IL 1-0111
CHICAGO,IL60603
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
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
35,834,142
b
Average of monthly cash balances.......................
1b
438,684
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
36,272,826
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
36,272,826
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
544,092
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
35,728,734
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,786,437
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,786,437
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
19,070
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
19,070
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,767,367
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,767,367
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,767,367
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
1,672,206
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
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
1,672,206
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 1,767,367
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 253,029
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 0
b From 2020...... 0
c From 2021...... 0
d From 2022...... 0
e From 2023...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,672,206
a Applied to 2023, but not more than line 2a 253,029
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..... 1,419,177
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 .......... 		348,190
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.... 0
b Excess from 2021.... 0
c Excess from 2022.... 0
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).)
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 MICHIGAN

500 S STATE ST
ANN ARBOR,MI48109 		NONE PC GENERAL 1,600,000
Total .................................right arrow 3a 1,600,000
bApproved for future payment
Total ................................. right arrow 3b  
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 ........... 		         
4 Dividends and interest from securities ....     14 786,289  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 725,677  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPARTNERSHIP INCOME 		    15 19,338  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,531,304  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,531,304
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 ExplnOfNonFilingWithAGStmt
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Statement:
The Michigan Office of the Attorney General has indicated that no Forms 990-PF should be filed with the State unless a charitable organization has pre-registered with the office. Although the situs of this trust is Michigan, it does not solicit contributions from the public nor does it hold assets within the state and therefore it does not meet the registration requirements of the State of Michigan. As a result, the Trust does not furnish a copy of its Form 990-PF to the State.

TY 2024 InvestmentsCorpBondsSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Name of Bond End of Year Book Value End of Year Fair Market Value
921937603 VANGUARD TTL BD MKT    
92203J308 VANGUARD TTL INTL BN    
464287432 ISHARES 20+ YEAR TRE 938,114 737,677
83002G108 SIX CIRCLES ULTR SHR 371,391 371,136
92206C771 VANGUARD MORTGAGE-BA    
83002G884 SIX CIRCLES CREDIT O 1,453,352 1,483,210
46429B267 ISHARES US TREASURY    
83002G702 SIX CIRCLES GLOBAL B 386,626 370,802
4812C0100 JPM CORE BD FD - USD 170,000 175,551
921937835 VANGUARD TOTAL BOND 1,511,318 1,480,771
92203J407 VANGUARD TOTAL INTL 342,556 349,285
92206C870 VANGUARD INT-TERM CO 1,097,167 1,110,214

TY 2024 InvestmentsCorpStockSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Name of Stock End of Year Book Value End of Year Fair Market Value
256677105 DOLLAR GENERAL CORP    
464287465 ISHARES MSCI EAFE ET 190,818 193,032
681919106 OMNICOM GROUP    
693718108 PACCAR INC    
743315103 PROGRESSIVE CORP 12,621 40,494
806857108 SCHLUMBERGER LTD 11,437 12,154
904767704 UNILEVER PLC-SPONSOR 28,719 38,726
922908629 VANGUARD MID-CAP ETF 757,100 1,923,131
46625H100 JPMORGAN CHASE & CO    
78462F103 SPDR S&P 500 ETF TRU 1,824,934 5,563,071
91324P102 UNITEDHEALTH GROUP I 11,023 39,963
084670702 BERKSHIRE HATHAWAY I 10,217 58,926
872540109 TJX COMPANIES INC 4,718 16,793
256746108 DOLLAR TREE INC 24,139 20,758
464287309 ISHARES S&P 500 GROW    
464287408 ISHARES S&P 500 VALU    
574599106 MASCO CORP 20,094 44,993
83175M205 SMITH & NEPHEW PLC - 27,201 18,509
09857L108 BOOKING HOLDINGS INC 22,329 64,589
665859104 NORTHERN TRUST CORP    
808513105 SCHWAB (CHARLES) COR 40,603 67,127
83002G306 SIX CIRCLES US UNCON 2,807,411 4,122,692
83002G405 SIX CIRCLES INTL UNC 1,308,517 1,373,474
G29183103 EATON CORP PLC    
315911750 FIDELITY 500 INDEX F    
500472303 KONINKLIJKE PHILIPS 33,183 29,321
595112103 MICRON TECHNOLOGY IN 12,814 22,892
835699307 SONY GROUP CORP - SP 26,055 41,685
02079K305 ALPHABET INC-CL A 28,157 50,543
358029106 FRESENIUS MEDICAL CA 36,543 27,100
46641Q191 JPMORGAN BETABUILDER    
46641Q217 JPMORGAN BETABUILDER 796,283 906,893
46641Q225 JPMORGAN BETABUILDER 471,607 544,178
46641Q233 JPMORGAN BETABUILDER 489,153 445,185
G0450A105 ARCH CAPITAL GROUP L    
053611109 AVERY DENNISON CORP 44,814 47,344
09247X101 BLACKROCK INC    
12514G108 CDW CORP/DE 25,958 24,540
142339100 CARLISLE COS INC 12,733 20,655
143130102 CARMAX INC 40,367 42,924
464286392 ISHARES MSCI WORLD E 1,473,003 1,929,289
803054204 SAP SE-SPONSORED ADR    
G3421J106 FERGUSON PLC    
14448C104 CARRIER GLOBAL CORP 27,225 42,116
464287507 ISHARES CORE S&P MID    
871829107 SYSCO CORP 34,809 37,160
03852U106 ARAMARK 42,802 49,324
09290D101 BLACKROCK INC 15,902 27,678
126408103 CSX CORP 34,800 33,787
31488V107 FERGUSON ENTERPRISES 35,397 50,335
595017104 MICROCHIP TECHNOLOGY 24,710 22,997
67103H107 O'REILLY AUTOMOTIVE 23,103 28,459
74834L100 QUEST DIAGNOSTICS IN 33,258 37,564
G0176J109 ALLEGION PLC 22,828 22,346

TY 2024 InvestmentsOtherSchedule2
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
425955911 RIVERSTONE GLOBAL EN AT COST 130,331 14,568
468213962 DFJ GROWTH 2013 PRIV AT COST   602,895
482924925 KKR NORTH AMERICA XI AT COST   188,705
484981964 GSO PRIVATE INVESTOR AT COST 29,600 34,103
510000920 LC ASIA PRIVATE INVE AT COST   34,979
811711969 STARWOOD SOF IX PRIV AT COST   43,261
827994922 SILVER LAKE PARTNERS AT COST   709,688
986903920 SCULPTOR OF II PRIVA AT COST 125,159 278,690
8V1304918 STARWOOD SOF XI PRIV AT COST 312,429 450,867
179172911 CRP VIII (CARLYLE) P AT COST 15,861 130,630
4RF012923 CD&R FUND X PRIVATE AT COST   275,438
551252919 ARES PCS PRIVATE INV AT COST 19,800 103,093
464287564 ISHARES COHEN & STEE AT COST 298,129 364,814
98672C914 BREP ASIA II PRIVATE AT COST 150,783 215,439
HFVARANA5 VARDE CREDIT PARTNER      
325628915 BSREP III (BROOKFIEL AT COST 270,264 409,210
426315917 BREP IX PRIVATE INVE AT COST 260,027 437,086
612312918 WP GROWTH PRIVATE IN AT COST 345,677 653,724
632569919 AP X PRIVATE INVESTO AT COST 382,746 515,868
456297944 LAKEWOOD CAPITAL OFF AT COST 272,822 459,137
5M4217912 MARINER ATLANTIC MUL AT COST 300,000 462,781
PEASFAAC6 ASF VIII PRIVATE INV AT COST 282,681 435,443
884290925 THIRD POINT OFFSHORE      
HEBHDAC87 BREVAN HOWARD FUND L AT COST 168,300 224,203
HECSMAD32 DOLLAR SENIOR LOAN O AT COST 450,000 442,304
PEEQTAAB3 EQT INFRASTRUCTURE V AT COST 375,450 463,453
PESVPAAA3 SVSS V PRIVATE INVES AT COST 387,500 513,059
024525669 AMERICAN BEACON AHL AT COST 325,000 267,992
HEARSAA09 ARISTEIA INTERNATION AT COST 300,000 340,125
HENWMACB4 EMERGING MARKET CURR AT COST 325,000 435,155
PEASFAAF9 ASF VIII INFRASTRUCT AT COST 141,981 166,329
PESCGAA23 SOF XII PRIVATE INVE AT COST 280,000 317,364
HEARSAGC7 ARISTEIA INTERNATION AT COST 114,000 122,298
HEBHDALK0 BREVAN HOWARD PT FUN AT COST 86,700 115,294
HECTUA0P6 COATUE OFFSHORE FUND      
HEMRNAJR3 MARINER ATLANTIC MUL AT COST 307,200 303,968
HENYAAH28 NAYA FUND CLASS A - AT COST 415,000 482,896
HETPPAGY6 THIRD POINT OFFSHORE      
PEASFAAQ5 ASF IX PRIVATE INVES AT COST 58,901 80,616
HECTUA8L7 COATUE OFFSHORE FUND AT COST 415,000 522,673
HETPPAJS6 THIRD POINT OFFSHORE AT COST 282,208 445,414
HETPPAKH8 THIRD POINT OFFSHORE AT COST 7,592 7,642
HETPPALN4 THIRD POINT OFFSHORE AT COST 20,584 23,804
HETPPALR5 THIRD POINT OFFSHORE AT COST 469 431
PENMCAAA2 NEW MOUNTAIN PARTNER AT COST 56,879 56,879

TY 2024 OtherDecreasesSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Description Amount
2024 TRANSACTIONS POSTED IN 2025 18,657
MUTUAL FUND ADJUSTMENT 5
RETURN OF CAPITAL ADJUSTMENT 10,049
ROUNDING 3


TY 2024 OtherExpensesSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE 111 111   0


TY 2024 OtherIncomeSchedule2
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PARTNERSHIP INCOME - MARINER ATLANTIC MU 19,338 19,338  


TY 2024 OtherIncreasesSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Description Amount
2023 TRANSACTIONS POSTED IN 2024 19,356


TY 2024 OtherProfessionalFeesSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED 5,452 5,452    


TY 2024 TaxesSchedule
Name:
LINCOLN M KNORR RESID TR XXXXX3009
EIN:
38-6725549
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 265 265   0
FEDERAL TAX PAYMENT - PRIOR YE 23,441 0   0
FOREIGN TAXES ON QUALIFIED FOR 7,529 7,529   0
FOREIGN TAXES ON NONQUALIFIED 1,614 1,614   0