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 04-01-2024 , and ending 03-31-2025
Name of foundation
BEN AND IRIS MARGOLIS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 10316
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DES MOINES, IA50306
A Employer identification number

87-6180864
B Telephone number (see instructions)

(602) 562-0883
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$13,119,756J 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... 368,575 368,575  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 551,492
b Gross sales price for all assets on line 6a 1,639,834
7 Capital gain net income (from Part IV, line 2)... 551,492
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
5,550 5,550  
12 Total. Add lines 1 through 11........ 925,617 925,617  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 52,663 39,497   13,166
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)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
25,679 6,584   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).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 78,342 46,081 0 13,166
25 Contributions, gifts, grants paid....... 581,178 581,178
26 Total expenses and disbursements. Add lines 24 and 25 659,520 46,081 0 594,344
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 266,097
b Net investment income (if negative, enter -0-) 879,536
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.............      
2 Savings and temporary cash investments......... 382,578 392,623 392,623
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)....... 10,110,341    
c Investments—corporate bonds (attach schedule).......      
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)..........   Click to see attachment
List of Attached Documents:
// Content
10,367,183 		12,727,133
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) 10,492,919 10,759,806 13,119,756
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........ 10,492,919 10,759,806
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)..... 10,492,919 10,759,806
30 Total liabilities and net assets/fund balances (see instructions). 10,492,919 10,759,806
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
10,492,919
2
Enter amount from Part I, line 27a .....................
2
266,097
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
790
4
Add lines 1, 2, and 3 ..........................
4
10,759,806
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
10,759,806
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 357.093 ACADIAN EMG MRKTS PORT-I #1960   2023-12-28 2024-05-16
b 103.614 ACADIAN EMG MRKTS PORT-I #1960   2022-12-29 2024-05-16
c 880.487 CAUSEWAY INTL VALUE FD-I 1271     2024-05-16
d 37.772 DODGE & COX STOCK FUND #145     2024-05-16
e 4.665 FIDELITY INTL INDX-INST PRM #2363   2024-04-12 2024-05-16
729.554 NORTHERN MID CAP INDEX #629   2023-12-21 2024-05-16
222.636 T ROWE PRICE EQUITY INCOME #71     2024-05-16
10.955 VANGUARD 500 INDEX FD- ADM #540   2024-03-22 2024-05-16
29.629 VANGUARD 500 INDEX FD- ADM #540   2016-02-12 2024-05-16
335.872 AB LARGE CAP GROWTH-ADV 478   2023-02-16 2024-06-18
479.534 T ROWE PRICE LARGE/CAP GRW-I 139     2024-06-18
104.374 VANGUARD 500 INDEX FD- ADM #540     2024-06-18
270.541 JPMORGAN SMALL CAP EQTY-I 367     2024-07-17
1821.083 NORTHERN MID CAP INDEX #629   2024-06-18 2024-07-17
932.23102 DODGE & COX INCOME FD COM #147   2020-04-17 2024-08-16
1579.17498 DODGE & COX INCOME FD COM #147     2024-08-16
277.52198 FED HERM TTL RTRN BND-INST 328   2020-05-19 2024-08-16
3026.62302 FED HERM TTL RTRN BND-INST 328     2024-08-16
906.94046 MET WEST TOTAL RETURN BOND CL I #512   2020-11-10 2024-08-16
2635.69854 MET WEST TOTAL RETURN BOND CL I #512     2024-08-16
489.70426 ALLSPRING CORE BOND-INST   2021-01-20 2024-08-16
2181.96474 ALLSPRING CORE BOND-INST     2024-08-16
118.562 INVESCO SMALL CAP GROWTH FD-R5 4764   2021-12-16 2024-10-02
222.822 INV OPP DEVELOP MRKTS-R6 7038   2022-03-17 2024-10-02
497.349 ACADIAN EMG MRKTS PORT-I #1960     2024-10-02
208.537 AB LARGE CAP GROWTH-ADV 478     2024-10-02
1319.647 CAUSEWAY INTL VALUE FD-I 1271     2024-10-02
112.896 CAUSEWAY INTL VALUE FD-I 1271   2021-07-19 2024-10-02
1238.92754 DODGE & COX INCOME FD COM #147     2024-10-02
2408.34946 DODGE & COX INCOME FD COM #147     2024-10-02
14.131 DODGE & COX STOCK FUND #145     2024-10-02
33.821 DODGE & COX STOCK FUND #145     2024-10-02
156.67172 AMER FNDS EUROPAC GROW-F3716   2021-12-16 2024-10-02
328.87728 AMER FNDS EUROPAC GROW-F3716   2021-12-16 2024-10-02
2258.26305 FED HERM TTL RTRN BND-INST 328     2024-10-02
2718.98195 FED HERM TTL RTRN BND-INST 328     2024-10-02
184.31 FIDELITY INTL INDX-INST PRM #2363     2024-10-02
284.66 FIDELITY INTL INDX-INST PRM #2363   2020-11-17 2024-10-02
95.597 GOLDMAN SACHS SMALL CAP VALUE I 651   2021-12-16 2024-10-02
272.398 T ROWE PRICE LARGE/CAP GRW-I 139   2024-09-18 2024-10-02
59.925 T ROWE PRICE LARGE/CAP GRW-I 139   2022-11-17 2024-10-02
156.256 JPMORGAN SMALL CAP EQTY-I 367     2024-10-02
539.353 MFS VALUE FUND-R6 4810     2024-10-02
45.631 MFS VALUE FUND-R6 4810   2022-12-16 2024-10-02
1817.18977 MET WEST TOTAL RETURN BOND CL I #512     2024-10-02
3443.61623 MET WEST TOTAL RETURN BOND CL I #512     2024-10-02
2350.755 NORTHERN MID CAP INDEX #629     2024-10-02
236.498 T ROWE PRICE EQUITY INCOME #71     2024-10-02
265.055 T ROWE PRICE EQUITY INCOME #71     2024-10-02
52.535 VANGUARD 500 INDEX FD- ADM #540     2024-10-02
100.766 VANGUARD 500 INDEX FD- ADM #540   2012-09-28 2024-10-02
1574.48516 ALLSPRING CORE BOND-INST     2024-10-02
2544.51584 ALLSPRING CORE BOND-INST     2024-10-02
106.66 AB LARGE CAP GROWTH-ADV 478   2024-08-16 2024-10-16
22.427 AB LARGE CAP GROWTH-ADV 478   2023-02-16 2024-10-16
198.497 T ROWE PRICE LARGE/CAP GRW-I 139     2024-10-16
59.666 JPMORGAN SMALL CAP EQTY-I 367     2024-10-16
1104.793 NORTHERN MID CAP INDEX #629     2024-10-16
60.144 VANGUARD 500 INDEX FD- ADM #540   2012-09-28 2024-10-16
69.737 AB LARGE CAP GROWTH-ADV 478   2023-02-16 2024-11-18
271.229 T ROWE PRICE LARGE/CAP GRW-I 139   2022-12-15 2024-11-18
49.527 NORTHERN MID CAP INDEX #629   2024-01-18 2024-11-18
1131.225 NORTHERN MID CAP INDEX #629   2022-12-16 2024-11-18
308.49 T ROWE PRICE EQUITY INCOME #71   2023-03-16 2024-11-18
62.06 VANGUARD 500 INDEX FD- ADM #540   2012-09-28 2024-11-18
298.108 AB LARGE CAP GROWTH-ADV 478   2024-12-10 2024-12-17
64.774 VANGUARD 500 INDEX FD- ADM #540   2012-09-28 2024-12-17
261.207 INVESCO SMALL CAP GROWTH FD-R5 4764     2025-01-27
510.35 CAUSEWAY INTL VALUE FD-I 1271   2024-11-18 2025-01-27
37.157 DODGE & COX STOCK FUND #145   2024-12-18 2025-01-27
214.601 AMER FNDS EUROPAC GROW-F3716   2021-12-16 2025-01-27
311.614 FIDELITY INTL INDX-INST PRM #2363     2025-01-27
51.998 GOLDMAN SACHS SMALL CAP VALUE I 651   2021-12-16 2025-01-27
213.405 T ROWE PRICE LARGE/CAP GRW-I 139   2024-12-16 2025-01-27
371.72 T ROWE PRICE EQUITY INCOME #71   2024-12-12 2025-01-27
1519.815 CAUSEWAY INTL VALUE FD-I 1271     2025-02-26
2444.737 DODGE & COX INCOME FD COM #147     2025-02-26
2703.359 FED HERM TTL RTRN BND-INST 328     2025-02-26
476.351 FIDELITY INTL INDX-INST PRM #2363   2024-11-18 2025-02-26
3430.808 MET WEST TOTAL RETURN BOND CL I #512     2025-02-26
2470.204 ALLSPRING CORE BOND-INST     2025-02-26
19.358 INV OPP DEVELOP MRKTS-R6 7038   2024-12-12 2025-03-25
123.544 INV OPP DEVELOP MRKTS-R6 7038   2022-03-17 2025-03-25
700.504 CAUSEWAY INTL VALUE FD-I 1271   2024-12-20 2025-03-25
933.368 DODGE & COX INCOME FD COM #147     2025-03-25
174.987 AMER FNDS EUROPAC GROW-F3716   2021-12-16 2025-03-25
797.40801 FED HERM TTL RTRN BND-INST 328     2025-03-25
464.33799 FED HERM TTL RTRN BND-INST 328     2025-03-25
320.191 FIDELITY INTL INDX-INST PRM #2363     2025-03-25
920.07531 MET WEST TOTAL RETURN BOND CL I #512     2025-03-25
390.46369 MET WEST TOTAL RETURN BOND CL I #512     2025-03-25
744.43144 ALLSPRING CORE BOND-INST     2025-03-25
414.62956 ALLSPRING CORE BOND-INST     2025-03-25
CAPITAL GAIN DIVIDENDS P    
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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 8,288   7,324 964
b 2,405   1,810 595
c 18,596   16,840 1,756
d 9,772   9,416 356
e 237   226 11
15,861   14,525 1,336
8,209   7,508 701
5,364   5,290 74
14,508   5,109 9,399
37,823   25,469 12,354
38,276   24,041 14,235
53,010   15,853 37,157
15,821   16,936 -1,115
40,428   38,534 1,894
11,998   13,238 -1,240
20,324   22,439 -2,115
2,673   3,130 -457
29,146   34,267 -5,121
8,371   10,058 -1,687
24,327   29,374 -5,047
5,504   6,547 -1,043
24,525   29,177 -4,652
4,488   5,192 -704
9,452   8,625 827
12,399   8,058 4,341
23,168   22,836 332
28,729   26,303 2,426
2,458   1,916 542
16,056   17,498 -1,442
31,212   34,192 -2,980
3,844   3,579 265
9,200   7,206 1,994
9,399   9,883 -484
19,729   20,746 -1,017
22,018   25,427 -3,409
26,510   30,708 -4,198
9,765   8,653 1,112
15,081   12,517 2,564
4,565   5,307 -742
22,070   21,841 229
4,855   2,984 1,871
9,266   9,371 -105
29,006   25,842 3,164
2,454   2,140 314
16,973   20,108 -3,135
32,163   38,246 -6,083
52,821   49,697 3,124
9,013   8,372 641
10,101   8,465 1,636
27,679   27,020 659
53,091   13,384 39,707
17,870   20,956 -3,086
28,880   33,977 -5,097
12,141   11,592 549
2,553   1,701 852
16,527   9,758 6,769
3,643   3,560 83
25,598   21,665 3,933
32,442   7,988 24,454
8,001   5,288 2,713
23,147   12,810 10,337
1,156   964 192
26,403   20,826 5,577
12,013   9,745 2,268
33,805   8,243 25,562
33,797   33,492 305
36,267   8,603 27,664
10,169   11,192 -1,023
9,937   10,488 -551
10,160   9,470 690
12,028   13,537 -1,509
15,525   16,117 -592
2,181   2,886 -705
17,860   18,184 -324
13,598   13,215 383
31,658   29,832 1,826
31,097   31,604 -507
25,682   26,856 -1,174
24,680   23,589 1,091
31,117   32,064 -947
27,395   29,021 -1,626
772   760 12
4,929   4,782 147
14,809   12,945 1,864
11,835   12,203 -368
10,078   11,038 -960
7,536   8,980 -1,444
4,388   5,240 -852
16,900   15,192 1,708
8,308   10,175 -1,867
3,526   4,317 -791
8,211   9,879 -1,668
4,573   5,496 -923
      318,732
      318,732
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      318,732
      318,732
      318,732
      318,732
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      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
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      318,732
      318,732
      318,732
      318,732
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      318,732
      318,732
      318,732
      318,732
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      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
      318,732
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       964
b       595
c       1,756
d       356
e       11
      1,336
      701
      74
      9,399
      12,354
      14,235
      37,157
      -1,115
      1,894
      -1,240
      -2,115
      -457
      -5,121
      -1,687
      -5,047
      -1,043
      -4,652
      -704
      827
      4,341
      332
      2,426
      542
      -1,442
      -2,980
      265
      1,994
      -484
      -1,017
      -3,409
      -4,198
      1,112
      2,564
      -742
      229
      1,871
      -105
      3,164
      314
      -3,135
      -6,083
      3,124
      641
      1,636
      659
      39,707
      -3,086
      -5,097
      549
      852
      6,769
      83
      3,933
      24,454
      2,713
      10,337
      192
      5,577
      2,268
      25,562
      305
      27,664
      -1,023
      -551
      690
      -1,509
      -592
      -705
      -324
      383
      1,826
      -507
      -1,174
      1,091
      -947
      -1,626
      12
      147
      1,864
      -368
      -960
      -1,444
      -852
      1,708
      -1,867
      -791
      -1,668
      -923
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 551,492
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 12,226
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 12,226
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 12,226
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 15,422
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 15,422
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 3,196
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow3,196 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 arrowUT
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowPRINCIPAL FINANCIAL GROUP Telephone no.right arrow (602) 562-0883

Located atright arrowPO BOX 10316DES MOINESIA ZIP+4right arrow50306
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
PRINCIPAL FINANCIAL GROUP TRUSTEE
1 		52,663    
PO BOX 10316
DES MOINES,IA50306
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
12,937,366
b
Average of monthly cash balances.......................
1b
400,347
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
13,337,713
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
13,337,713
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
200,066
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
13,137,647
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
656,882
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
656,882
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
12,226
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
12,226
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
644,656
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
644,656
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
644,656
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
594,344
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
594,344
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 7 644,656
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 581,178
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$ 594,344
a Applied to 2023, but not more than line 2a 581,178
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..... 13,166
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 .......... 		631,490
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).)
NONE
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.
NONE
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

UNIV OF UTAH COLLEGE OF MEDICINE

332 S 1400 E STE 160
SALT LAKE CITY,UT84112 		NONE PC GENERAL OPERATING 581,178
Total .................................right arrow 3a 581,178
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 ....     14 368,575  
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 ............ 		    18 551,492  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    1 5,550  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   925,617  
13Total. Add line 12, columns (b), (d), and (e)..................
13
925,617
(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 InvestmentsCorpStockSchedule
Name:
BEN AND IRIS MARGOLIS FOUNDATION
EIN:
87-6180864
Name of Stock End of Year Book Value End of Year Fair Market Value
SEE ATTACHED    

TY 2024 InvestmentsOtherSchedule2
Name:
BEN AND IRIS MARGOLIS FOUNDATION
EIN:
87-6180864
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
00769G188 ACADIAN EMG MRKTS PO AT COST 115,716 193,173
592905509 MET WEST TOTAL RETUR AT COST 1,406,156 1,239,043
922908710 VANGUARD 500 INDEX F AT COST 479,550 1,633,366
45775L408 T ROWE PRICE LARGE/C AT COST 202,548 609,806
256210105 DODGE & COX INCOME F AT COST 1,303,227 1,238,517
31428Q101 FED HERM TTL RTRN BN AT COST 1,364,049 1,238,739
38142V209 GOLDMAN SACHS SMALL AT COST 164,351 150,470
00141M622 INVESCO SMALL CAP GR AT COST 142,001 149,782
14949P208 CAUSEWAY INTL VALUE AT COST 275,664 465,040
55273H353 MFS VALUE FUND-R6 48 AT COST 290,116 517,323
94975J581 ALLSPRING CORE BOND- AT COST 1,374,880 1,238,920
665130100 NORTHERN MID CAP IND AT COST 815,700 1,082,817
298706110 AMER FNDS EUROPAC GR AT COST 448,972 461,537
256219106 DODGE & COX STOCK FU AT COST 172,061 252,800
779547108 T ROWE PRICE EQUITY AT COST 360,971 513,730
4812A1373 JPMORGAN SMALL CAP E AT COST 267,294 311,134
00143W859 INV OPP DEVELOP MRKT AT COST 174,206 196,532
315911727 FIDELITY INTL INDX-I AT COST 532,266 624,884
01877C408 AB LARGE CAP GROWTH- AT COST 477,455 609,520

TY 2024 OtherIncomeSchedule2
Name:
BEN AND IRIS MARGOLIS FOUNDATION
EIN:
87-6180864
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 5,550 5,550  


TY 2024 OtherIncreasesSchedule
Name:
BEN AND IRIS MARGOLIS FOUNDATION
EIN:
87-6180864
Description Amount
COST BASIS ADJUSTMENT 738
MUTUAL FUND TIMING ADJ 52


TY 2024 TaxesSchedule
Name:
BEN AND IRIS MARGOLIS FOUNDATION
EIN:
87-6180864
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 4,736 4,736   0
FEDERAL TAX PAYMENT - PRIOR YE 3,673 0   0
FEDERAL ESTIMATES - PRINCIPAL 15,422 0   0
FOREIGN TAXES ON NONQUALIFIED 1,848 1,848   0