Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
STEARNS CHARITABLE TRUST
C/O JPMORGAN
Number and street (or P.O. box number if mail is not delivered to street address) 1650 MARKET STREET FLOOR 47
  Room/suite
City or town
PHILADELPHIA
State or province
PA
Country  
ZIP or foreign postal code
19103
A Employer identification number

04-6036697
B Telephone number (see instructions)

2156403432
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$9,519,406J 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 .................
3 Interest on savings and temporary cash investments 5,792 5,792  
4 Dividends and interest from securities... 202,018 193,015  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,164,164
b Gross sales price for all assets on line 6a 3,984,984
7 Capital gain net income (from Part IV, line 2)... 1,164,164
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 1,371,974 1,362,971  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,390 2,195   2,195
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
41,680 41,680   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
40,245 2,661   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
70 0   70
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 86,385 46,536   2,265
25 Contributions, gifts, grants paid....... 450,000 450,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 536,385 46,536   452,265
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 835,589
b Net investment income (if negative, enter -0-) 1,316,435
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
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......... 586,445 131,112 131,112
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 1,575,025 Click to see attachment
List of Attached Documents:
// Content
1,900,224 		1,900,224
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,319,318 Click to see attachment
List of Attached Documents:
// Content
7,488,070 		7,488,070
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 8,480,788 9,519,406 9,519,406
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 )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 8,480,788 9,519,406
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 8,480,788 9,519,406
30 Total liabilities and net assets/fund balances (see instructions). 8,480,788 9,519,406
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
8,480,788
2
Enter amount from Part I, line 27a .....................
2
835,589
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
203,029
4
Add lines 1, 2, and 3 ..........................
4
9,519,406
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
9,519,406
Form 990-PF (2025)
Form 990-PF (2025)
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 SALE OF PUBLICLY TRADED SECURITIES      
b
c
d
e
(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 3,984,984   2,820,820 1,164,164
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,164,164
b
c
d
e
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 1,164,164
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 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 18,298
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 18,298
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 18,298
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 29,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 29,000
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....... 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 10,702
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax10,702 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
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)
MA
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 2025 or the taxable year beginning in 2025? 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 addressN/A
14
The books are in care ofPATRICIA OWENS Telephone no. (215) 640-3432

Located atC/O JPMORGAN 1650 MARKET STPHILADELPHIAPA ZIP+419103
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, 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
Form 990-PF (2025)
Form 990-PF (2025)
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)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
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 2025? .............
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 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 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.
20, 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 2025 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 Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
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 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
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 .........
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
JAMES A GASSEL TRUSTEE
1.00 		0 0 0
4505 PARADISE DRIVE
TIBURON,CA94920
KIMBERLY B SOULE TRUSTEE
1.00 		0 0 0
163 DEAN STREET
BROOKLYN,NY11217
SARAH J LODGE TRUSTEE
1.00 		0 0 0
730 ANDORRA ROAD
LAFAYETTE HILL,PA19444
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
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.........................0
Form 990-PF (2025)
Form 990-PF (2025)
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
8,943,632
b
Average of monthly cash balances.......................
1b
179,872
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
9,123,504
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
9,123,504
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
136,853
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
8,986,651
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
449,333
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
449,333
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
18,298
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
18,298
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
431,035
4
Recoveries of amounts treated as qualifying distributions................
4
1,000
5
Add lines 3 and 4............................
5
432,035
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
432,035
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, line 26, column (d) ..........
1a
452,265
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
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
452,265
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 432,035
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023...... 42,034
e From 2024......  
f Total of lines 3a through e ........ 42,034
4Qualifying distributions for 2025 from Part
XI, line 4: $ 452,265
a Applied to 2024, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 432,035
e Remaining amount distributed out of corpus 20,230
5 Excess distributions carryover applied to 2025. 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 62,264
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		62,264
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 .... 42,034
d Excess from 2024 ....  
e Excess from 2025 .... 20,230
Form 990-PF (2025)
Form 990-PF (2025)
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 2025, enter the date of the ruling ......
 
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) 2025 (b) 2024 (c) 2023 (d) 2022
         
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, 3b, or 3c 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 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, 2b, 2c, and 2d. 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 (2025)
Form 990-PF (2025)
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

BRIC ARTS MEDIA BKLYN INC (DBA BRIC)

647 FULTON STREET
BROOKLYN,NY11217 		N/A   PROGRAM SUPPORT 15,000

COMPASS FAMILY SERVICES

37 GROVE STREET
SAN FRANCISCO,CA94102 		N/A   PROGRAM SUPPORT 17,500

CONSERVATION INTERNATIONAL

2011 CRYSTAL DRIVE SUITE 600
ARLINGTON,VA22202 		N/A   PROGRAM SUPPORT 5,000

CONSERVATION LAW FOUNDATION

62 SUMMER STREET
BOSTON,MA02110 		N/A   PROGRAM SUPPORT 5,000

CUTANEOUS LYMPHOMA FOUNDATION

PO BOX 374
BIRMINGHAM,MI48012 		N/A   PROGRAM SUPPORT 10,000

DANA-FARBER CANCER INSTITUTE

450 BROOKLINE AVENUE
BOSTON,MA02215 		N/A   PROGRAM SUPPORT 5,000

ENVIRONMENTAL WORKING GROUP

1250 1 STREET NW 1000
WASHINGTON,DC20005 		N/A   PROGRAM SUPPORT 2,500

GARDEN TIME INC

286 ROCHAMBEAU AVE
PROVIDENCE,RI02906 		N/A   PROGRAM SUPPORT 2,500

GRACE SCIENCE FOUNDATION

1142 CRANE STREET STE 4
MENLO PARK,CA94025 		N/A   PROGRAM SUPPORT 10,000

GREENPEACE FUND INC

702 H STREET NW STE 300
WASHINGTON,DC20001 		N/A   PROGRAM SUPPORT 5,000

MAKE A WISH FOUNDATION

181 PARK AVENUE SUITE 12
WEST SPRINGFIELD,MA01089 		N/A   PROGRAM SUPPORT 10,000

MARIN COUNTY BICYCLE COALITION

773 CENTER BLVD 695
FAIRFAX,CA94978 		N/A   PROGRAM SUPPORT 10,000

MASSACHUSETTS RIVERS ALLIANCE

2343 MASSACHUSETTS AVENUE
CAMBRIDGE,MA02140 		N/A   PROGRAM SUPPORT 40,000

MEDECINS SANS FRONTIERES USA INC (DBA DOCTORS WITHOUT BORDERS USA INC)

40 RECTOR ST 16TH FLOOR
NEW YORK,NY10006 		N/A   PROGRAM SUPPORT 4,000

NATIONAL MULTIPLE SCLEROSIS SOCIETY

101A FIRST AVENUE
WALTHAM,MA02451 		N/A   PROGRAM SUPPORT 2,500

NATIONAL PARK SERVICE (OLD SLATER MILL ASSOCIATION)

67 ROOSEVELT AVENUE
PAWTUCKET,RI02860 		N/A   PROGRAM SUPPORT 10,000

NATIONAL PARK SERVICE (POINT REYES NATIONAL SEASHORE)

1 BEAR VALLEY ROAD
POINT REYES STATION,CA94956 		N/A   PROGRAM SUPPORT 10,000

NORTH SHORE COUNTRY DAY SCHOOL

310 GREEN BAY ROAD
WINNETKA,IL60093 		N/A   PROGRAM SUPPORT 5,000

PEDIATRIC NEURO-ONCOLOGY CONSORTIUM FOUNDATION

1005 NORTHGATE DRIVE 224
SAN RAFAEL,CA94903 		N/A   PROGRAM SUPPORT 10,000

PINE STREET INN

444 HARRISON AVENUE
BOSTON,MA02118 		N/A   PROGRAM SUPPORT 10,000

PLANNED PARENTHOOD FEDERATION OF AMERICA INC

1055 COMMONWEALTH AVENUE
BOSTON,MA02215 		N/A   PROGRAM SUPPORT 10,000

PLANNED PARENTHOOD SOUTHEASTERN PENNSYLVANIA INC

1144 LOCUST STREET
PHILADELPHIA,PA19107 		N/A   PROGRAM SUPPORT 10,000

SAINT IGNATIUS SCHOOL

2001 37TH AVE
SAN FRANCISCO,CA94116 		N/A   PROGRAM SUPPORT 15,000

SAVE THE CHILDREN

501 KINGS HIGHWAY EAST SUITE 400
FAIRFIELD,CT06825 		N/A   PROGRAM SUPPORT 5,000

SEA EDUCATION ASSOCIATION INC

PO BOX 758
FALMOUTH,MA02541 		N/A   PROGRAM SUPPORT 10,000

SEA SHEPHERD CONSERVATION SOCIETY

PO BOX 8628
ALEXANDRIA,VA22306 		N/A   PROGRAM SUPPORT 55,000

SEEKONK LAND CONSERVATION TRUST

PO BOX 383
SEEKONK,MA02771 		N/A   PROGRAM SUPPORT 5,000

SEEKONK LIBRARY TRUST

410 NEWMAN AVE
SEEKONK,MA02771 		N/A   PROGRAM SUPPORT 5,000

SOJOURNER HOUSE INC

386 SMITH STREET
PROVIDENCE,RI02908 		N/A   PROGRAM SUPPORT 5,000

STANFORD UNIVERSITY

450 SERRA MALL
STANFORD,CA94305 		N/A   PROGRAM SUPPORT 20,000

UNIVERSITY OF CALIFORNIA SAN FRANCISCO FOUNDATION (USCF FOUNDATION)

220 MONTGOMERY STREET
SAN FRANCISCO,CA94143 		N/A   PROGRAM SUPPORT 20,000

WESTPORT LAND CONSERVATION TRUST

830 DRIFT ROAD
WESTPORT,MA02790 		N/A   PROGRAM SUPPORT 5,000

WESTPORT RIVER WATERSHED ALLIANCE

493 OLD COUNTY ROAD
WESTPORT,MA02790 		N/A   PROGRAM SUPPORT 5,000

WHEATON COLLEGE

26 E MAIN STREET
NORTON,MA02766 		N/A   PROGRAM SUPPORT 20,000

WOODMERE ART MUSEUM

9201 GERMANTOWN AVENUE
PHILADELPHIA,PA19118 		N/A   PROGRAM SUPPORT 30,000

KEYSTONE CARE

8765 STENTON AVE
WYNDMOOR,PA19038 		N/A   PROGRAM SUPPORT 10,000

LOVE LIVES IN SEEKONK

25 MILL ROAD
SEEKONK,MA02771 		N/A   PROGRAM SUPPORT 10,000

BERKSHIRE IMMIGRANT CENTER INC

67 EAST STREET
PITTSFIELD,MA01201 		N/A   PROGRAM SUPPORT 5,000

BROOKLYN PUBLIC LIBRARY

10 GRAND ARMY PLAZA
BROOKLYN,NY11238 		N/A   PROGRAM SUPPORT 2,000

NARROWS CENTER FOR THE ARTS INC

16 ANAWAN STREET
FALL RIVER,MA02721 		N/A   PROGRAM SUPPORT 2,000

BUZZARDS BAY COALITION INC

114 FRONT STREET
NEW BEDFORD,MA02740 		N/A   PROGRAM SUPPORT 2,000

MARIN GENERAL HOSPITAL FOUNDATION DBA MARINHEALTH FOUNDATION

1350 SOUTH ELISEO DR STE 110
GREENBRAE,CA94904 		N/A   PROGRAM SUPPORT 10,000
Total ................................. 3a 450,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 5,792  
4 Dividends and interest from securities ....     14 202,018  
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 1,164,164  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,371,974 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,371,974
(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 (2025)
Form 990-PF (2025)
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.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed 		PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE 4,390 2,195   2,195

TY 2025 InvestmentsCorpBondsSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Name of Bond End of Year Book Value End of Year Fair Market Value
LOWES COS INC 4.8% 04/01/2026 33,042 33,042
WELLTOWER OP LLC 4.25% 04/01/2026 24,001 24,001
AUTOZONE INC 3.125% 04/21/2026 32,908 32,908
MARTIN MARIETTA MATL 3.45% 06/01/2027 33,796 33,796
TWDC ENTERPRISES 18 CORP 2.95% 06/15/2027 33,651 33,651
JOHN DEERE CAP CORP 4.2% 07/15/2027 33,240 33,240
MCCORMICK & CO 3.4% 08/15/2027 33,697 33,697
CROWN CASTLE INC 3.65% 09/01/2027 33,729 33,729
MONDELEZ INTL 4.125% 05/07/2028 33,046 33,046
REP SERVICES INC 3.95% 05/15/2028 38,064 38,064
CITIGROUP INC VAR 05/24/2028 32,269 32,269
OTIS WORLDWIDE CORP 5.25% 08/16/2028 32,976 32,976
TRANE TECH GLOB HOLD 3.75% 08/21/2028 33,879 33,879
HCA INC 3.375% 03/15/2029 34,098 34,098
AMPHENOL CORP 5.05% 04/05/2029 31,901 31,901
BROADCOM INC 5.05% 07/12/2029 32,946 32,946
ROPER TECHNOLOGIES INC 2.95% 09/15/2029 33,463 33,463
QUEST DIAGNOSTICS INC 4.625% 12/15/2029 33,560 33,560
AMERICAN EXPRESS CO VAR 04/25/2030 32,339 32,339
CONSTELLATION BRANDS INC 2.875% 05/01/2030 32,929 32,929
PNC FINL SERVICES VAR 05/14/2030 26,030 26,030
SABINE PASS LIQUEFACTION 4.5% 05/15/2030 33,134 33,134
BK OF NY MELLON CORP VAR 07/26/2030 32,582 32,582
WELLS FARGO & CO VAR 02/11/2031 41,095 41,095
CENCORA INC 2.7% 03/15/2031 34,089 34,089
SHERWIN-WILLIAMS CO 4.8% 09/01/2031 32,752 32,752
KIMCO RLTY OP LLC 3.2% 04/01/2032 34,347 34,347
BK OF AMERICA CORP VAR 04/22/2032 59,648 59,648
GOLDMAN SACHS GROUP INC VAR 04/22/2032 39,208 39,208
MORGAN STANLEY VAR 07/21/2032 55,981 55,981
TRUIST FINL CORP VAR 08/05/2032 18,582 18,582
AON CORP/AON GLOBAL HOLDING 5.0% 09/12/2032 32,777 32,777
ZOETIS INC 5.6% 11/16/2032 31,856 31,856
THERMO FISHER SCIENTIFIC 4.95% 11/21/2032 32,021 32,021
MCDONALD'S CORP 4.95% 08/14/2033 38,168 38,168
BP CAP MARKETS AMER 4.893% 09/11/2033 21,364 21,364
ATMOS ENERGY CORP 5.9% 11/15/2033 18,377 18,377
PROLOGIS LP 5.125% 01/15/2034 32,850 32,850
ENTERPRISE PRODUCTS OPER 4.85% 01/31/2034 20,207 20,207
RTX CORP 6.1% 03/15/2034 32,823 32,823
T-MOBILE USA INC 5.15% 04/15/2034 31,689 31,689
UNITED HEALTH GROUP INC 5.15% 07/15/2034 38,921 38,921
FISERV INC 5.15% 08/12/2034 11,907 11,907
NETFLIX INC 4.9% 08/15/2034 32,769 32,769
ALTRIA GROUP INC 2.625% 09/16/2026 35,688 35,688
DIAMONDBACK ENERGY INC 3.25% 12/01/2026 22,833 22,833
ROYAL BANK OF CANADA 1.2% 04/27/2026 28,755 28,755
S&P GLOBAL INC 4.25% 05/01/2029 33,177 33,177
CONSUMERS ENERGY CO 4.5% 01/15/2031 18,198 18,198
DTE ELEC CO 3.0% 03/01/2032 20,328 20,328
CSX CORP 5.2% 11/15/2033 33,313 33,313
FL PWR & LT CO 5.3% 06/15/2034 34,567 34,567
UBER TECHNOLOGIES INC 4.8% 09/15/2034 34,990 34,990
GEN MLS INC 5.25% 01/30/2035 33,681 33,681
HEALTHPEAK OP LLC 5.375% 02/15/2035 13,278 13,278
AMERN WTR CAP C 5.25% 03/01/2035 28,864 28,864
SYSCO CORP 5.4% 03/23/2035 34,181 34,181
UN ELEC CO 5.25% 04/15/2035 36,047 36,047
EXTRA SPACE STORAGE LP 5.4% 06/15/2035 6,151 6,151
BROWN & BROWN INC 5.55% 06/23/2035 6,152 6,152
WILLIAMS COMPANIES INC 5.3% 09/30/2035 6,103 6,103
VERIZON COMMUNICATIONS 4.272% 01/15/2036 27,169 27,169
CITIGROUP INC VAR 09/11/2036 4,038 4,038

TY 2025 InvestmentsOtherSchedule2
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
VANGUARD 500 INDEX FUND FMV 1,813,927 1,813,927
STATE STREET COMMUNICATION SERVICES SELECT SECTOR SPDR ETF FMV 125,843 125,843
STATE STREET CONSUMER STAPLES SELECT SECTOR SPDR ETF FMV 93,138 93,138
STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR SPDR INCOME ETF FMV 193,922 193,922
STATE STREET ENERGY SELECT SECTOR SPDR ETF FMV 65,634 65,634
FIDELITY 500 INDEX FUND FMV 1,811,907 1,811,907
STATE STREET FINANCIAL SELECT SECTOR SPDR ETF FMV 286,502 286,502
STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF FMV 177,091 177,091
STATE STREET INDUSTRIAL SELECT SECTOR SPDR ETF FMV 75,543 75,543
VANGUARD INFO TECH ETF FMV 522,371 522,371
FIDELITY INTL INDX-INST PRM FMV 1,447,026 1,447,026
JPMORGAN BETABUILDERS CANADA ETF FMV 236,964 236,964
JPMORGAN BETABUILDERS EUROPE ETF FMV 346,269 346,269
JPMORGAN BETABUILDERS JAPAN ETF FMV 75,862 75,862
VANGUARD S&P 500 GROWTH ETF FMV 216,071 216,071

TY 2025 OtherExpensesSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE FILING FEE 70 0   70


TY 2025 OtherIncreasesSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Description Amount
UNREALIZED GAINS ON INVESTMENTS 202,029
RETURN OF UNEXPENDED GRANTS 1,000


TY 2025 OtherProfessionalFeesSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 41,680 41,680   0


TY 2025 TaxesSchedule
Name:
STEARNS CHARITABLE TRUST
 
C/O JPMORGAN
EIN:
04-6036697
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES WITHHELD ON INVESTMENTS 2,661 2,661   0
FEDERAL EXCISE TAXES 37,584 0   0