TY 2025 Form 990PF

- TIN:

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
The Gulati Family Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address) Foundation Source 501 Silverside Rd
Room/suite

City or town
Wilmington

State or province
DE

Country

ZIP or foreign postal code
198091377

A Employer identification number

75-6669847

B Telephone number (see instructions)

8008391754

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

D 1. Foreign organizations, check here.............

2. Foreign organizations meeting the 85%
test, check here and attach computation ...

E If private foundation status was terminated
under section 507(b)(1)(A), check here .......

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$3,549,795J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .................
3	Interest on savings and temporary cash investments	1,642		1,642
4	Dividends and interest from securities...	57,762		57,762
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		397,471
b	Gross sales price for all assets on line 6a 2,344,709
7	Capital gain net income (from Part IV, line 2)...			397,471
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........	456,875		456,875
13	Compensation of officers, directors, trustees, etc.	46,000				46,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	32,784	32,784
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	13,138	1,005
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	13,749	225		13,524
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	105,671		34,014		59,524
25	Contributions, gifts, grants paid.......	497,322				497,322
26	Total expenses and disbursements. Add lines 24 and 25 ................	602,993		34,014		556,846
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-146,118
b	Net investment income (if negative, enter -0-)			422,861
c	Adjusted net income (if negative, enter -0-)...				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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	145,231	132,078	132,078
	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).......	2,385,968	List of Attached Documents: // Content 2,240,185	3,119,772
	c	Investments—corporate bonds (attach schedule).......	279,444	List of Attached Documents: // Content 292,262	297,945
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	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)	2,810,643	2,664,525	3,549,795
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	2,810,643	2,664,525
	29	Total net assets or fund balances (see instructions).....	2,810,643	2,664,525
	30	Total liabilities and net assets/fund balances (see instructions).	2,810,643	2,664,525

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

2,810,643

Enter amount from Part I, line 27a .....................

-146,118

Other increases not included in line 2 (itemize)

Add lines 1, 2, and 3 ..........................

2,664,525

Decreases not included in line 2 (itemize)

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..

2,664,525

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	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,344,709	1,947,238	397,471
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			397,471
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	397,471
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 .........................		3

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.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	5,878
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
3	Add lines 1 and 2...........................	3	5,878
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	5,878
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	6,800
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	6,800
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	2
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	920
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax920	Refunded	11	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. $ (2) On foundation managers.$

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers.$

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address

The books are in care ofFoundation Source Telephone no. (800) 839-1754

Located at501 Silverside Road Suite 123WilmingtonDE ZIP+4198091377

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 ........

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........

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? .............

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)):

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?....................

If "Yes," list the years 20, 20, 20, 20

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.) ..............

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

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.).....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2025)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check .........

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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-)
Charles J Gulati	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000
Jack D Gulati	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000
Jennifer Gulati	Trustee, Sec, Treas 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee, Sec, Treas 1.0	5,000
Loretta Gulati	Trustee, Pres 8.0	6,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee, Pres 8.0	6,000
Michael E Gulati	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000
Owen R Gulati	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000
Rosemary M Gulati	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000
J David Gulati II	Trustee, VP 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee, VP 1.0	5,000
J David Gulati III	Trustee 1.0	5,000
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Trustee 1.0	5,000

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










Total number of other employees paid over $50,000...................

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

Total number of others receiving over $50,000 for professional services............. right arrow

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.........................

Form 990-PF (2025)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

3,236,624

Average of monthly cash balances.......................

232,969

Fair market value of all other assets (see instructions)................

Total (add lines 1a, 1b, and 1c).......................

3,469,593

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

3,469,593

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

52,044

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

3,417,549

Minimum investment return. Enter 5% (0.05) of line 5 ................

170,877

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.)

Minimum investment return from Part IX, line 6..................

170,877

Tax on investment income for 2025 from Part V, line 5 .......

5,878

Income tax for 2025. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

5,878

Distributable amount before adjustments. Subtract line 2c from line 1............

164,999

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

164,999

Deduction from distributable amount (see instructions) .................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

164,999

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........

556,846

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

556,846

Form 990-PF (2025)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2025
1 Distributable amount for 2025 from Part X, line 7			164,999
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......
b Total for prior years:2023, 2022, 2021
3 Excess distributions carryover, if any, to 2025:
a From 2020......	67,112
b From 2021......	155,820
c From 2022......	177,520
d From 2023......	190,584
e From 2024......	226,698
f Total of lines 3a through e ........		817,734
4Qualifying distributions for 2025 from Part
XI, line 4: $ 556,846
a Applied to 2024, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions) .....
c Treated as distributions out of corpus (Election required—see instructions) ........
d Applied to 2025 distributable amount.....			164,999
e Remaining amount distributed out of corpus		391,847
5 Excess distributions carryover applied to 2025.
(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		1,209,581
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............
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) .......
8 Excess distributions carryover from 2020 not applied on line 5 or line 7 (see instructions) ...		67,112
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		1,142,469
10 Analysis of line 9:
a Excess from 2021 ....	155,820
b Excess from 2022 ....	177,520
c Excess from 2023 ....	190,584
d Excess from 2024 ....	226,698
e Excess from 2025 ....	391,847

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 4942(j)(3) or4942(j)(5)

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	(e) Total

b 85% (0.85) of line 2a .......
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, 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).)

Jack D Gulati

Rosemary M Gulati

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AERIE AFRICA INC 17 BELAMOUR DR WASHINGTON CROSSING,PA18977	N/A		General & Unrestricted	50,000
ALBRIGHT COLLEGE 13TH BERN STREETS READING,PA19612	N/A		Albright College General Endowment Fund	4,000
AMERICAN CHILDHOOD CANCER ORGANIZATION 10523 EWING RD STE B BELTSVILLE,MD20705	N/A		Jake's Dragon Foundation	2,000
AMERICAN NATIONAL RED CROSS PO BOX 37839 BOONE,IA50037	N/A		Designated for California wildfires	1,000
ASSOCIATION FOR THE COLONIAL THEATER PO BOX 712 PHOENIXVILLE,PA19460	N/A		Charitable Event	3,000
BERKS COUNTY COMMUNITY FOUNDATION INC 237 COURT ST READING,PA19601	N/A		Charitable Event	1,500
BISHOPS ANNUAL APPEAL CHARITABLE TRUST 1515 MARTIN LUTHER KING JR DR ALLENTOWN,PA18102	N/A		General & Unrestricted	5,000
CAFE OF LIFE INC PO BOX 367794 BONITA SPGS,FL34136	N/A		Bay Brothers Bible Study Group	500
CHESTNUT HILL COLLEGE 9601 GERMANTOWN AVE PHILADELPHIA,PA19118	N/A		Griffin Fund	2,500
CHESTNUT HILL COLLEGE 9601 GERMANTOWN AVE PHILADELPHIA,PA19118	N/A		100 Anniversary fund	25,000
DREXEL UNIVERSITY PO BOX 8215 PHILADELPHIA,PA19101	N/A		Funding for Material Research Society (MRS)	3,000
ED SNIDER YOUTH HOCKEY FOUNDATION 100 W OXFORD ST STE E-2000 PHILADELPHIA,PA19122	N/A		Charitable Event	18,000
FOUNDING FORWARD 1601 VALLEY FORGE VALLEY FORGE,PA19481	N/A		Charitable Event	2,500
GREATER PHILADELPHIA YOUNG MENS CHRISTIAN ASSOCIAT 400 FAYETTE ST STE 250 CONSHOHOCKEN,PA19428	N/A		Charitable Event	8,000
GUADALUPE CENTER INC 2640 GOLDEN GATE PKWY STE 205 NAPLES,FL34105	N/A		General & Unrestricted	1,000
GWYNEDD-MERCY ACADEMY 1345 SUMNEYTOWN PIKE LOWER GWYNEDD,PA19002	N/A		A Place to Soar Campaign	100,000
HOPE RESCUE MISSION OF THE CITY OF READING PA 645 N 6TH ST READING,PA19601	N/A		Lighthouse Women and Children's Center	5,000
HOPE RESCUE MISSION OF THE CITY OF READING PA 645 N 6TH ST READING,PA19601	N/A		General & Unrestricted	3,000
JOHN PAUL II CENTER FOR SPECIAL LEARNING 1092 WELSH RD SHILLINGTON,PA19607	N/A		General & Unrestricted	1,000
MOMS HOUSE OF PHOENIXVILLE 865 S MAIN ST PHOENIXVILLE,PA19460	N/A		General & Unrestricted	1,000
Munoz-Marin Luis 3300 N 3RD ST Philadelphia,PA19140	N/A		Charitable Event	1,072
Munoz-Marin Luis 3300 N 3RD ST Philadelphia,PA19140	N/A		Charitable Event	5,000
NAPLES COUNCIL ON WORLD AFFAIRS INC 3250 BONITA BEACH RD 205 BONITA SPRINGS,FL34134	N/A		For MUN (FGCU) Scholarship Fund	1,000
PENNSYLVANIA STATE UNIVERSITY 105 OLD MAIN UNIVERSITY PARK,PA16802	N/A		Charitable Event	10,000
PENNSYLVANIA STATE UNIVERSITY 2583 GATEWAY DR STE 130 BRISTOL PL ONE STATE COLLEGE,PA16801	N/A		Smeal School of Business	10,000
PERKIOMEN SCHOOL 200 SEMINARY ST PENNSBURG,PA18073	N/A		Charitable Event	100,000
PERKIOMEN SCHOOL 200 SEMINARY ST PENNSBURG,PA18073	N/A		General & Unrestricted	10,000
ST CATHARINE OF SIENA 2427 PERKIOMEN AVE READING,PA19606	N/A		General & Unrestricted	1,500
ST LEO THE GREAT CATHOLIC CHURCH 28290 BEAUMONT RD BONITA SPRINGS,FL34134	N/A		General & Unrestricted	1,500
THE HILL SCHOOL 860 BEECH ST POTTSTOWN,PA19464	N/A		THE GULATI GRILL FUND	100,000
THE PHOENIXVILLE JAYCEES FOUNDATION 8 GAY ST PHOENIXVILLE,PA19460	N/A		General & Unrestricted	2,750
THE SALVATION ARMY 301 SOUTH FIFTH ST READING,PA19603	N/A		General & Unrestricted	1,000
VILLANOVA UNIVERSITY 800 E LANCASTER AVE VILLANOVA,PA19085	N/A		Villanova Athletics Strategic Excellence Fund	10,000
Y2 BELIEVE INC 16295 S TAMIAMI TRL STE 195 FORT MYERS,FL33908	N/A		General & Unrestricted	5,000
YMCA OF READING & BERKS CO 631 WASHINGTON ST READING,PA19601	N/A		Charitable Event	1,500
Total ................................. 3a				497,322

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	1,642
4 Dividends and interest from securities ....			14	57,762
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	397,471
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) ..				456,875

13Total. Add line 12, columns (b), (d), and (e)..................

456,875

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2025)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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. Yes No
	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

- TIN:

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

TY 2025 DepreciationSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC - 4.550% - 03/15/20	3,816	3,938
AERCAP IRELAND CAPITAL LIMITED	4,309	4,623
AIR PRODUCTS - 4.850% - 02/08/	3,994	4,074
AMERICAN EXPRESS CO - 0.000% -	5,326	5,203
BANK AMER CORP - 3.419% - 12/2	3,863	3,954
BANK AMERICA CORP - 5.468% - 0	4,238	4,176
BANK OF AMERICA - 0.000% - 04/	4,354	4,662
BANK OF AMERICA CORPORATION -	4,255	4,275
BARCLAYS PLC UNSECD SR NOTE -	5,229	5,090
BRISTOL-MYERS SQUIBBCO NOTE -	5,092	5,210
CAMPBELL SOUP - 5.200% - 03/21	4,077	4,100
CAPITAL ONE - 5.817% - 02/01/2	5,019	5,241
CENTENE CORP - 3.375% - 02/15/	4,456	4,601
CENTENE CORP DEL SER B - 4.250	3,981	3,976
CHENIERE ENERGY INC SER B NOTE	6,122	5,992
CISCO SYSTEMS INC - 5.050% - 0	5,242	5,155
CITIGROUP INC NOTE - 2.561% -	4,175	4,541
CNA FINL CORP NOTE - 5.500% -	5,137	5,186
COACH - 4.125% - 07/15/2027	4,799	4,997
CVS HEALTH CORP NOTE - 1.875%	6,173	6,148
DOLLAR GEN CORP - 3.500% - 04/	3,875	3,872
EQUINIX INC NOTE CALL MAKE WHO	4,620	4,804
FISERV INC NOTE CALL MAKE WHOL	4,810	4,852
FORD MTR CREDIT CO LLC UNSECD	5,108	5,011
GENERAL MOTORS FINL CO - 3.600	4,608	4,816
GENERAL MTRS FINL CO INC NOTE	5,033	5,438
GOLDMAN SACHS GROUP INC - 2.61	4,226	4,563
GXO LOGISTICS INC SER B - 1.65	3,683	3,943
HCA 3.5% 09/01/2030 - 3.500% -	3,884	3,847
HSBC HLDGS PLC - 4.041% - 03/1	3,961	3,995
HSBC HOLDINGS PLC - 2.357% - 0	5,073	5,463
JPMORGAN CHASE & CO - 5.290% -	5,053	5,167
JPMORGAN CHASE & CO NOTE - 5.0	7,100	7,177
KLA CORP - 4.650% - 07/15/2032	4,929	5,081
LAS VEGAS SANDS CORP - 3.500%	4,739	4,977
LLOYDS BANKNG GROUP PLC - 5.68	4,009	4,217
LOCKHEED MARTIN - 4.750% - 02/	3,921	4,063
MAGIC SOFTWARE ENTERPRISES LTD	5,016	5,000
MCDONALDS CORP - 4.950% - 03/0	3,997	4,054
METLIFE - 5.300% - 12/15/2034	4,249	4,160
MICRON TECHNOLOGY - 5.300% - 0	4,090	4,146
MORGAN STANLEY - 5.320% - 07/1	7,053	7,220
MORGAN STANLEY - 5.420% - 07/2	5,049	5,210
MOTOROLA SOLUTIONS INC NOTE -	3,965	4,051
NEXTERA ENERGY CAP HLDGS INC B	4,092	4,453
NISOURCE IN UNSECD NOTE - 5.25	5,160	5,128
NORTHROP GRUMMAN CORP - 4.400%	4,899	5,042
OREILLY AUTOMOTIVE INC - 5.000	4,970	5,047
PACIFIC GAS & ELEC COSER 29 -	3,840	3,986
PACIFIC GAS & ELECTRIC - 3.150	5,031	5,000
PNC FINANCIAL SERVICES - 4.899	5,147	5,122
PUBLIC SERVICE ELEC & GAS CO -	6,179	6,143
QUALCOMM INC - 5.000% - 05/20/	3,974	4,072
REPUBLIC SERVICES INC SR NOTE	4,024	4,143
ROYAL BANK CDA - 4.970% - 08/0	5,095	5,125
S&P GLOBAL INC - 2.900% - 03/0	5,397	5,540
T MOBILE - 3.875% - 04/15/2030	5,766	5,907
TEVA PHARMACEUTICAL NOTE - 3.1	1,887	1,977
THERMO FISHER SCIENTIFIC INC -	5,698	5,707
TORONTO DOMINION BANK - 4.456%	4,032	3,999
TRUIST FINL CORP - 5.435% - 01	5,155	5,180
WASTE MANAGEMENT INC DEL - 4.9	6,208	6,105

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3I GROUP PLC ADR	5,756	5,064
ADOBE SYSTEMS, INC	7,082	7,000
ADVANCED MICRO DEVICES INC	2,086	2,142
AGILENT TECHNOLOGIES INC	2,164	2,313
AGNICO EAGLE MINES LTD	1,198	1,187
ALPHABET INC CL A	48,601	94,525
ALTRIA GROUP INC	13,011	14,703
AMAZON COM	30,703	36,470
AMGEN INC	4,400	5,237
AMPHASTAR PHARMACEUTICALS INC	1,463	1,714
APPLE INC	36,175	52,469
APPLIED MATERIALS INC	2,993	4,626
ARCH CAPITAL GROUP LTD	1,234	1,343
ARISTA NETWORKS	11,507	15,462
AT&T, INC	18,017	19,847
BANK HAPOALIM BM ADR	1,650	2,006
BERKLEY W R CP	9,187	9,817
BLUE OWL CAPITAL	1,079	971
BNP PARIBAS SPONS ADR	4,736	5,119
BOISE CASCADE COMPANY	2,665	2,650
BREAD FINANCIAL HOLDINGS	6,511	11,697
BROADCOM INC	36,387	55,376
BUILDERS FIRST SOURCE INC	5,881	5,865
C H ROBINSON WORLDWIDE INC	661	643
CADENCE DESIGN SYSTEMS INC	2,206	2,501
CAL-MAINE FOODS, INC	5,506	5,649
CAN IMPERIAL BK OF COMMERCE	10,927	13,682
CARLYLE GROUP	1,815	2,069
CARS COM INC	1,249	1,464
CATALYST PHARMACEUTICALS INC	1,715	2,427
CAVA GROUP INC	904	704
CHIPOTLE MEX GRILL	1,286	999
CITIZENS FINANCIAL GROUP, INC	5,905	9,696
CNX RESOURCES CORP	4,052	6,619
COCA COLA BOTTLING CONS	2,164	3,679
COGNIZANT TECHNOLOGY SOLUTIONS	3,105	3,569
COMCAST CORP	3,671	3,736
COMPANHIA SANEA ADS	19,661	23,492
CONSOLIDATED EDISON INC	4,442	4,668
COPART INC	2,063	1,527
CORCEPT THERAPEUTICS INC	3,733	3,376
COSTCO WHOLESALE CORPORATION	2,943	2,587
CREDICORP LTD	12,888	16,359
CVS CAREMARK CORP	2,280	3,095
DEUTSCHE TELE AG ADS	11,387	11,739
DIAMONDBACK ENERGY INC	1,129	1,203
DONNELLEY FINANCIAL SOLUTIONS	2,712	2,848
EMBRAER SA SPONSRD ADR	12,084	15,642
ENOVA INTERNATIONAL, INC	3,881	8,803
ENVISTA HOLDINGS	824	999
EPLUS, INC	1,681	2,456
ERSTE BK DER OEST SP	3,672	4,879
ESSENT GROUP LTD	4,506	5,266
EXELIXIS, INC.	5,219	6,049
EXPEDITORS INTL WASH INC	3,346	3,576
EXXON MOBIL CORP	8,143	9,146
FAIRFAX FINL HLDGS LTD	6,976	7,632
FORTESCUE METALS G ADR EA REPR	5,948	7,161
FORTINET INC	7,825	7,623
FOX CORP CL A	15,581	20,679
GENERAL MILLS INC	3,328	3,302
HALOZYME THERAPEUTICS, INC	6,688	10,095
HCI GROUP INC	4,162	8,051
HEIDELBERG MATERIALS AG ADR	6,176	8,590
HITACHI LTD	11,614	15,881
HON HAI PRECISION S/GDR	3,411	3,625
HONDA MOTOR CO LTD	3,018	2,948
HYATT HOTELS CORP	12,296	16,513
IDEXX LABORATORIES INC	2,029	2,706
IMPERIAL BRANDS PL	20,317	22,811
INNOVIVA INC	3,211	4,318
INTERDIGITAL COMMUNICATIONS CO	2,723	8,278
INTUIT	1,855	1,987
ISHARES 0 5 YEAR HIGH YIELD CO	32,094	32,495
ISHARES BARCLAYS 10-20 YEAR TR	8,824	8,235
ISHARES BARCLAYS 3-7 YEAR TREA	126,851	128,181
ISHARES LEHMAN INTERMDTE CREDI	45,055	47,145
ITOCHU CORP ADR OTC	9,946	12,645
JACKSON FINANCIAL INC	7,277	12,265
JP MORGAN CHASE	9,331	14,178
KB HOME	3,218	3,385
KDDI CP UNSP ADR	7,092	8,092
KINROSS GOLD CORP	12,854	21,233
KLA TENCOR CORP	6,075	10,936
KOMATSU LTD	1,749	1,651
KOREA ELECTRIC PW CP	7,236	7,013
KT CORP ADS	7,482	7,569
KULICKE AND SOFFA INDUSTRIES,	2,523	3,053
LANTHEUS HOLDINGS INC	6,828	8,585
LAS VEGAS SANDS CORP	10,855	16,858
LENNAR CORP	123	103
LINDE PLC COM	1,728	1,706
LIVE NATION INC COM	8,100	10,830
LOGITECH INTERNATIONAL	11,126	11,325
LOUISIANA PACIFIC CP	1,283	1,211
M/I HOMES, INC	7,658	8,317
MAPLEBEAR INC	2,318	2,564
MARSH AND MCLENNAN COMPANIES I	3,878	3,896
MARTIN MARIETTA MATLS INC	1,124	1,245
MARUBENI CORP ADR CNV INTO 10	1,084	1,655
MASTERCARD INC	4,797	5,138
MATSON INC	6,664	7,784
MCKESSON CORP	5,287	7,383
META PLATFORMS INC	40,381	46,866
MGIC INVESTMENT CORP	4,030	5,289
MICROSOFT CORP	66,493	74,960
MITSUI & COMPANY, LTD. - ADR	6,744	9,382
MONSTER BEVERAGE CORP	2,015	2,530
MUELLER IND INC	5,282	11,710
NASPERS LTD N SPONS ADR	4,858	5,772
NETEASE.COM INC COM STK	16,919	18,579
NEWMONT GOLDCORP CORPORATION	18,821	21,368
NIPPON TELEGRAPH & TELEPHONE C	7,489	7,484
NITTO DENKO ADR	1,308	1,449
NMI HOLDINGS, INC	4,962	6,404
NOVARTIS AG ADR	9,432	10,065
NVIDIA CORP	75,657	130,176
O'REILLY AUTOMOTIVE INC	2,043	2,371
OGE ENERGY CORP	6,919	6,832
OLD REP INTL CORP	14,872	18,575
OMEGA HEALTHCARE INV	6,364	8,336
OMNICOM GROUP	3,565	3,876
ORACLE CORP	2,534	1,949
PALANTIR TECHNOLOGIES INC	5,957	6,221
PALO ALTO NETWORKS INC	6,009	6,079
PARSONS ORD SHS	10,303	9,888
PBF ENERGY INC	1,419	2,441
PERDOCEO EDUCATION	3,247	4,077
PERFORMANCE FOOD GROUP COMPANY	7,334	8,183
PETROLEO BRASILEIRO	17,885	17,882
PFIZER INC	4,633	4,781
PIMCO ENHANCED SHORT MATURITY	62,400	62,410
PING AN INSURANCE GROUP ADR	9,945	12,770
POWELL INDUSTRIES INC	3,518	6,376
PROCTER GAMBLE CO	12,143	11,895
PROGRESSIVE CORP OHIO	7,091	7,059
PUBLIC SVC ENTERPRISE GROUP IN	5,822	6,504
QUALCOMM INC	3,464	3,763
RAMBUS, INC	6,940	14,427
RELIANCE STL & ALMN	5,694	6,066
RENAISSANCERE HOLDINGS LTD	7,516	8,716
ROCKET COMPANIES, INC	1,469	3,756
ROYAL CARRIBEAN CRUISE	11,677	12,272
RYANAIR HOLDINGS PLC-ADR COM	7,185	8,302
SANMINA-SCI CORPORATION	7,489	17,558
SEMPRA ENERGY COM	2,621	3,267
SERVICE NOW	2,830	2,451
SHIONOGI & CO LTD	3,066	3,637
SKYWEST, INC	5,665	6,025
SNOWFLAKE INC	2,615	2,413
SPROUTS FARMERS MARKET INC	2,549	2,868
STANDEX INTERNATIONAL CORP	2,322	3,042
SUPERNUS PHARMACEUTICALS INC	1,887	2,783
SYLVAMO CORP	1,764	1,830
SYNCHRONY FINANCIAL	17,993	22,026
T. ROWE PRICE GROUP	11,892	12,593
TAIWAN SEMICONDUCTOR MFG CO LT	13,865	15,195
TAKEDA PHARMACEUTICAL COMPANY	7,086	7,951
TAYLOR MORRISON HOME CORP	8,217	8,301
TEGNA	3,746	4,853
TENARIS SA-ADR	9,447	10,804
TESLA MOTORS INC	10,576	16,190
TIM SA	8,852	8,247
TKO GROUP HOLDINGS, INC	2,268	5,434
TOYOTA MTR CORP	5,384	6,208
TRANSUNION COM USD0.01	2,149	1,972
TYLER TECHNOLOGIES, INC	2,085	1,816
TYSON FOODS INC CL A	776	821
UBER	9,134	10,295
UNITED CONTINENTAL HOLDINGS IN	17,035	25,383
UNITED THERAPEUTICS CORP	18,377	27,286
UNITEDHEALTH GROUP INC	2,388	2,311
VANGUARD CAPITAL OPPORTUNITY A	247,189	320,988
VANGUARD INDEX TR VANGUARD TOT	110,552	420,906
VANGUARD S&P 500 ETF	252,005	361,853
VEEVA SYSTEMS INC	1,682	1,563
VERISK ANALYTICS, INC	664	671
VERIZON COMMUNICATIONS	10,741	10,956
VERTEX PHARMCTLS INC	1,179	1,360
VICI PROPERTIES INC	341	309
VISA INC	10,956	10,872
VISTRA ENERGY CORP	12,435	11,938
WELLTOWER INC.	7,525	9,652
WILLIAMS SONOMA INC	7,679	7,858
WOORI FINANCE ADR	6,956	7,819

- TIN:

TY 2025 OtherExpensesSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Administrative Fees	13,524			13,524
Bank Charges	225	225

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	32,784	32,784

- TIN:

TY 2025 TaxesSchedule

Name:

The Gulati Family Foundation

EIN:

75-6669847

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2025	6,800
990-PF Excise Tax for 2024	5,333
Foreign Tax Paid	1,005	1,005