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
Tortuga Charitable Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address) c/o 791 Alexander Road
  Room/suite
City or town
Princeton
State or province
NJ
Country  
ZIP or foreign postal code
08540
A Employer identification number

51-0245279
B Telephone number (see instructions)

2069721303
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)$171,906,674J 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      
4 Dividends and interest from securities... 1,499,849 1,499,849  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 14,719,969
b Gross sales price for all assets on line 6a 125,824,021
7 Capital gain net income (from Part IV, line 2)... 14,719,969
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)....... Click to see attachment
List of Attached Documents:
// Content
3    
12 Total. Add lines 1 through 11........ 16,219,821 16,219,818  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 373,260     335,934
14 Other employee salaries and wages...... 121,229     121,229
15 Pension plans, employee benefits....... 6,061     6,061
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
35,590      
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
73,814 73,814    
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
1,480,048 1,282,153   64,680
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
389,166 15,075   28,541
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 43,442     32,642
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments
List of Attached Documents:
// Content
96,925 5,772   53,583
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,619,535 1,376,814   642,670
25 Contributions, gifts, grants paid....... 8,515,500 8,515,500
26 Total expenses and disbursements. Add lines 24 and 25 ................ 11,135,035 1,376,814   9,158,170
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,084,786
b Net investment income (if negative, enter -0-) 14,843,004
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............. 103,422 145,020 145,020
2 Savings and temporary cash investments......... 19,614,272 4,240,270 4,240,270
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.......... 2,448 18,132 18,132
10a Investments—U.S. and state government obligations (attach schedule)   Click to see attachment
List of Attached Documents:
// Content
10,793,759 		10,851,170
b Investments—corporate stock (attach schedule)....... 87,196,829 Click to see attachment
List of Attached Documents:
// Content
96,863,281 		156,642,217
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis 1,518
Less: accumulated depreciation (attach schedule) 1,518      
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
42,919 		Click to see attachment
List of Attached Documents:
// Content
9,865 		Click to see attachment
List of Attached Documents:
// Content
9,865
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 106,959,890 112,070,327 171,906,674
Liabilities 17 Accounts payable and accrued expenses.......... 74,180 101,856
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 ) Click to see attachment
List of Attached Documents:
// Content
2,711 		Click to see attachment
List of Attached Documents:
// Content
686
23 Total liabilities (add lines 17 through 22)......... 76,891 102,542
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 106,882,999 111,967,785
29 Total net assets or fund balances (see instructions)..... 106,882,999 111,967,785
30 Total liabilities and net assets/fund balances (see instructions). 106,959,890 112,070,327
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
106,882,999
2
Enter amount from Part I, line 27a .....................
2
5,084,786
3
Other increases not included in line 2 (itemize)
3
 
4
Add lines 1, 2, and 3 ..........................
4
111,967,785
5
Decreases not included in line 2 (itemize)
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
111,967,785
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 Publicly Traded Securities P 2024-01-01 2025-12-31
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 125,824,021   111,104,052 14,719,969
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       14,719,969
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 14,719,969
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) 1 206,318
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........................... 3 206,318
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- ..... 5 206,318
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 288,000
b Exempt foreign organizations—tax withheld at source...... 6b  
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.............. 7 288,000
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  
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 81,682
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax81,682 Refunded 11  
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. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
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)
DE, NY
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 ofLear & Pannepacker LLP Telephone no. (609) 452-2200

Located at791 Alexander RoadPrincetonNJ ZIP+4085406325
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
 
No
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
Donna ColonClick to see attachment
List of Attached Documents:
// Content
Treasurer
5.00 		0    
c/o 791 Alexander Road
Princeton,NJ08540
Mildred Livingston President
5.00 		0    
c/o 791 Alexander Road
Princeton,NJ08540
Patricia Livingston Sec'y, Trustee
5.00 		0    
c/o 791 Alexander Road
Princeton,NJ08540
Robert Livingston Trustee
5.00 		0    
c/o 791 Alexander Road
Princeton,NJ08540
Philip Livingston Trustee
5.00 		0    
c/o 791 Alexander Road
Princeton,NJ08540
Karen Harris Exec. Director
40.00 		355,768 17,492  
107 W 63rd St PMB 207
Kansas City,MO64113
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
Lucy A Winikoff Grants Manager
40.00 		91,229 6,061  
107 W 63rd St PMB 207
Kansas City,MO64113
Total number of other employees paid over $50,000...................  
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
Edgewood Management Co LLC Investment Advisory 1,213,321
600 Steamboat Rd
Greenwich,CT06830
A Green Results LLC Consulting 73,215
304 Old Marlboro Road
Concord,MA01742
Lear & Pannepacker LLP Accountants 73,814
791 Alexander Road
Princeton,NJ08550
Greg Horner Consulting Consulting 64,680
28 Home Street
South Hamilton,MA01982
Bank of New York Custody Fees 68,832
PO Box 185
Pittsburgh,PA15230
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)
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
160,814,850
b
Average of monthly cash balances.......................
1b
11,117,641
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
171,932,491
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
 
3
Subtract line 2 from line 1d.........................
3
171,932,491
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
2,578,987
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
169,353,504
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
8,467,675
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
8,467,675
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
206,318
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
206,318
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
8,261,357
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
8,261,357
6
Deduction from distributable amount (see instructions) .................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
8,261,357
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
9,158,170
b
Program-related investments—total from Part VIII-B..................
1b
 
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
9,158,170
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 8,261,357
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 1,207,813
b From 2021......  
c From 2022...... 1,204,345
d From 2023...... 1,592,204
e From 2024...... 611,900
f Total of lines 3a through e ........ 4,616,262
4Qualifying distributions for 2025 from Part
XI, line 4: $ 9,158,170
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) ........ 		0
d Applied to 2025 distributable amount..... 8,261,357
e Remaining amount distributed out of corpus 896,813
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 5,513,075
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) ... 		1,207,813
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		4,305,262
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 .... 1,204,345
c Excess from 2023 .... 1,592,204
d Excess from 2024 .... 611,900
e Excess from 2025 .... 896,813
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
Abortion Care Network


1300 I Street NW Suite 400E
Washington,DC20005 		None   Charitable 125,000
Alliance for a Green Economy


2013 E Genesee St
Syracuse,NY11385 		None   Charitable 50,000
Appalachian Mountain Advocates Inc


117 E Washington Street
Lewisburg,WV24901 		None   Charitable 75,000
Badlands Conservation Alliance


1605 East Capitol Ave
Bismarck,ND58502 		None   Charitable 25,000
Climate and Clean Energy Equity Fun


1100 13th Street NW Suite 800
Washington,DC20005 		None   Charitable 125,000
Commission Shift


212 Flores Ave
Laredo,TX78040 		None   Charitable 75,000
Conservation Lands Foundation


835 E 2nd Ave Suite 305
Durango,CO81301 		None   Charitable 75,000
Ecdysis Foundation


46958 188th St
Estelline,SD57234 		None   Charitable 75,000
Environmental Advocates NY Inc


353 Hamilton Street
Albany,NY12210 		None   Charitable 65,000
Foodshed Capital


101 Devon Road
Charlottesville,VA22903 		None   Charitable 85,000
Friends of Nevada Wilderness


1360 Greg Street Suite 111
Sparks,NV89431 		None   Charitable 60,000
Generation180


PO Box 483
Charlottesville,VA22901 		None   Charitable 25,000
Greater Yellowstone Coalition Inc


215 S Wallace Ave
Bozeman,MT59715 		None   Charitable 75,000
Guardian Org Foundation


900 17th St NW Suite 250
Washington,DC20006 		None   Charitable 75,000
Heart of the Rockies Initiative


120 Hickory St Suite B
Missoula,MT59801 		None   Charitable 75,000
Home Energy Efficiency Team Inc


50 Milk St Floor 16
Boston,MA02109 		None   Charitable 75,000
Interlace Commons Inc


9 Pleasant Street
Bristol,VT05443 		None   Charitable 75,000
Intertribal Agriculture Council Inc


2101 Broadwater Avenue Suite 107-59
Billings,MT59103 		None   Charitable 75,000
Just Transition Fund


PO Box 10
Keswick,VA22947 		None   Charitable 100,000
Multiplier


548 Market St PMB 81178
San Francisco,CA94104 		None   Charitable 75,000
National Parks Conservation Associa


777 6th Street NW Suite 700
Washington,DC20001 		None   Charitable 75,000
New Mexico Wilderness Alliance


PO Box 25464
Albuquerque,NM87125 		None   Charitable 70,000
Oregon Desert Land Trust


2843 NW Lolo Drive Suite 200
Bend,OR97703 		None   Charitable 75,000
Planned Parenthood Federation of Am


123 William Street
New York,NY10038 		None   Charitable 150,000
Planned Parenthood of Southern New


345 Whitney Ave
New Haven,CT06511 		None   Charitable 100,000
Resources Legacy Fund


400 Capitol Mall Suite 2150
Sacramento,CA95814 		None   Charitable 200,000
Savanna Institute


2453 Atwood Ave Suite 209
Madison,WI53704 		None   Charitable 75,000
Southern Environmental Law Center


120 Garrett Street Suite 400
Charlottesville,VA22902 		None   Charitable 100,000
Sustainable Markets Foundation


40 West 37th St Suite 1000
New York,NY10018 		None   Charitable 25,000
Brigid Alliance Inc


PO Box 58
New York,NY10024 		None   Charitable 50,000
Nature Conservancy


265 Church St 16th Floor
New Haven,CT06510 		None   Charitable 165,000
Nature Conservancy


1101 West River Parkway Suite 200
Minneapolis,MN55415 		None   Charitable 10,000
Redford Center Inc


1016 Lincoln Blvd Suite 322
San Francisco,CA94129 		None   Charitable 100,000
Toxic-Free Future


4649 Sunnyside Ave N Suite 540
Seattle,WA98103 		None   Charitable 65,000
Turtle Survival Alliance


5900 Core Rd Suite 504
North Charleston,SC29406 		None   Charitable 25,000
University of Washington Foundation


4333 Brooklyn Ave NE Box 359504
Seattle,WA98195 		None   Charitable 80,000
Western Environmental Law Center


120 Shelton McMurphey Blvd Suite 34
Eugene,OR97401 		None   Charitable 100,000
Wild Arizona


PO Box 40340
Tucson,AZ85717 		None   Charitable 25,000
WildEarth Guardians


301 N Guadalupe St Suite 201
Santa Fe,NM87501 		None   Charitable 65,000
Wild Earth Society Incorporated


PO Box 243
Salt Lake City,UT84110 		None   Charitable 60,000
Wyoming Wilderness Association


PO Box 6588
Sheridan,WY82801 		None   Charitable 25,000
Catskill Animal Sanctuary Inc


316 Old Stage Rd
Saugerties,NY12477 		None   Charitable 50,000
Catskill Mountainkeeper Inc


PO Box 50
Livingston Manor,NY12758 		None   Charitable 20,000
Climate Change Leadership Institute


911 Stagecoach Road
Santa Fe,NM87501 		None   Charitable 20,000
New York Coalition for Healthy Scho


PO Box 737
Mamaroneck,NY10543 		None   Charitable 10,000
Colorado Nonprofit Development Cent


PO Box 18770
Denver,CO80218 		None   Charitable 25,000
Conservation NW


1829 10th Ave W Suite B
Seattle,WA98119 		None   Charitable 50,000
Earth Law Center


530 Main Ave Unit F
Durango,CO81301 		None   Charitable 15,000
Esopus Creek Conservancy Inc


PO Box 589
Saugerties,NY12477 		None   Charitable 20,000
Friends of Dickinson Memorial Libra


115 Main St
Northfield,MA01360 		None   Charitable 5,000
Humane Education Advocates Reaching


PO Box 738
Mamaroneck,NY10543 		None   Charitable 50,000
Mount Grace Land Conservation Trust


1461 Old Keene Road
Athol,MA01331 		None   Charitable 80,000
Neo Philanthropy Inc


1001 Avenue of The Americas 12th Fl
New York,NY10018 		None   Charitable 30,000
Northwest Abortion Access Fund


1631 NE Broadway Street 149
Portland,OR97232 		None   Charitable 40,000
Physicians Committee for Responsibl


5100 Wisconsin Ave NW Suite 400
Washington,DC20016 		None   Charitable 50,000
Planned Parenthood of Greater Washi


1117 Tieton Drive
Yakima,WA98902 		None   Charitable 25,000
Rocky Mountain Planned Parenthood I


7155 E 38th Ave
Denver,CO80207 		None   Charitable 100,000
Planned Parenthood South Atlantic


100 South Boylan Avenue
Raleigh,NC27603 		None   Charitable 50,000
Puget Sound Restoration Fund


8001 Day Rd W Suite B
Bainbridge Island,WA98110 		None   Charitable 40,000
Puget Soundkeeper Alliance


130 Nickerson Street Suite 107
Seattle,WA98109 		None   Charitable 50,000
South Carolina Environmental Law Pr


PO Box 1380
Pawleys Island,SC29585 		None   Charitable 50,000
Spruce Root Inc


One Sealaska Plaza Suite 400
Juneau,AK99801 		None   Charitable 50,000
Surfrider Foundation


PO Box 73550
San Clemente,CA92673 		None   Charitable 25,000
Nature Conservancy


4400 Leeds Ave
North Charleston,SC29405 		None   Charitable 100,000
White Feather Farm Inc


1389 Route 212
Saugerties,NY12477 		None   Charitable 10,000
Whitman-Walker Foundation Inc


1201 Sycamore Dr SE Suite 300
Washington,DC20009 		None   Charitable 45,000
Woodstock Land Conservancy Inc


PO Box 864
Woodstock,NY12498 		None   Charitable 75,000
Abortion Action Missouri Foundation


3735 Connecticut Street
St Louis,MO63116 		None   Charitable 50,000
Alaska Conservation Foundation


1227 W 9th Ave Suite 300
Anchorage,AK99501 		None   Charitable 75,000
Alaska Wilderness League


122 C St NW Suite 650
Washington,DC20001 		None   Charitable 100,000
Amigos Bravos Inc


PO Box 238
Taos,NM87571 		None   Charitable 100,000
Bennington College Corporation


One College Drive
Bennington,VT05201 		None   Charitable 165,000
Center for Rural Affairs


145 Main St PO Box 136
Lyons,NE68038 		None   Charitable 100,000
Colorado Organization for Latina Op


303 E 17th Ave Suite 400
Denver,CO80204 		None   Charitable 75,000
Dogwood Alliance Inc


PO Box 7645
Asheville,NC28802 		None   Charitable 75,000
Earth Island Institute Inc


2150 Allston Way Suite 460
Berkeley,CA94704 		None   Charitable 75,000
Earthjustice


180 Steuart St 194330
San Francisco,CA94105 		None   Charitable 125,000
Earthworks


1612 K Street NW Suite 904
Washington,DC20006 		None   Charitable 75,000
Environmental Integrity Project


1000 Vermont Ave NW Suite 1100
Washington,DC20005 		None   Charitable 200,000
Environmental Law Policy Center of


35 East Wacker Drive Suite 1600
Chicago,IL60601 		None   Charitable 75,000
International Planned Parenthood Fe


125 Maiden Lane 9th Floor
New York,NY10038 		None   Charitable 100,000
Initiative for Responsible Mining A


600 1st Ave Suite 330 PMB 74985
Seattle,WA98104 		None   Charitable 75,000
Institute for Energy Economics


PO Box 472
Valley City,OH44280 		None   Charitable 100,000
Koala Action Inc


52 Poole Road
Glass House Mountains,QLD4518
AS 		None   Charitable 16,500
Koala Conservation Australia Limite


154 Lord St
Port Macquarie,NSW2444
AS 		None   Charitable 32,500
Land Trust Alliance Incorporated


1250 H Street NW Suite 600
Washington,DC20005 		None   Charitable 125,000
Louisiana Bucket Brigade


3416 B Canal Street
New Orleans,LA70119 		None   Charitable 75,000
National Caucus of Environmental Le


1140 3rd St NE Suite 200
Washington,DC20002 		None   Charitable 100,000
National Institute for Reproductive


14 Wall St Suite 3B
New York,NY10005 		None   Charitable 100,000
National Womens Law Center


1350 I St NW Suite 700
Washington,DC20005 		None   Charitable 100,000
Native Americans in Philanthropy


1200 G Street NW Unit 800
Washington,DC20005 		None   Charitable 100,000
New Venture Fund


1201 Connecticut Ave NW Suite 300
Washington,DC20036 		None   Charitable 75,000
New Venture Fund


1201 Connecticut Ave NW Suite 300
Washington,DC20036 		None   Charitable 75,000
New Venture Fund


1201 Connecticut Ave NW Suite 300
Washington,DC20036 		None   Charitable 75,000
New York Public Interest Research G


9 Murray Street Lower Level
New York,NY10011 		None   Charitable 75,000
Oregon Natural Desert Association I


50 SW Bond Street 4
Bend,OR97702 		None   Charitable 100,000
Partnership for Policy Integrity In


PO Box 2513
Amherst,MA01004 		None   Charitable 75,000
Queensland Koala Crusaders Inc


28 Eenie Creek R
Noosaville,QLD4566
AS 		None   Charitable 16,500
Regenerative Agriculture Foundation


PO Box 7276
Minneapolis,MN55407 		None   Charitable 125,000
Rockefeller Family Fund Inc


475 Riverside Drive Suite 900
New York,NY10115 		None   Charitable 300,000
Rockefeller Philanthropy Advisors I


120 Broadway Suite 3475
New York,NY10271 		None   Charitable 100,000
Scenic Hudson Inc


85 Civic Center Plaza Suite 300
Poughkeepsie,NY12601 		None   Charitable 75,000
Southeast Alaska Conservation Counc


2207 Jordan Ave
Juneau,AK99801 		None   Charitable 75,000
Southeastern Wind Coalition Inc


602 Surry Road
Chapel Hill,NC27514 		None   Charitable 75,000
Spiral House Park


185 Fishcreek Rd
Saugerties,NY12477 		None   Charitable 175,000
State Democracy Project


77 Sands St 6
Brooklyn,NY11201 		None   Charitable 75,000
Trustees for Alaska


121 W Fireweed Lane Suite 105
Anchorage,AK99503 		None   Charitable 125,000
Vote Solar


2443 Fillmore Street 380-1375
San Francisco,CA94115 		None   Charitable 75,000
Washington Wild


5101 14th Ave NW Suite 200 PMB 311
Seattle,WA98107 		None   Charitable 50,000
West Virginia Rivers Coalition Inc


3501 MacCorkle Avenue SE 129
Charleston,WV25304 		None   Charitable 50,000
Wildlife Conservation Society


2300 Southern Boulevard
Bronx,NY10460 		None   Charitable 100,000
Windward Fund


1828 L Street NW Suite 300-C
Washington,DC20036 		None   Charitable 100,000
Women Donors Network


PO Box 2930
San Francisco,CA94126 		None   Charitable 100,000
Total ................................. 3a 8,515,500
bApproved for future payment
Total ................................. 3b  
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 ........... 		         
4 Dividends and interest from securities ....     14 1,499,849  
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 14,719,969  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aSecurity Litigation settlement 		    18 3  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   16,219,821  
13Total. Add line 12, columns (b), (d), and (e)..................
13
16,219,821
(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: 25022934
Software Version: 2025v4.1


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
5560 Accounting fees 73,814 73,814 0 0

TY 2025 ContractorCompensationExpln
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Contractor Explanation
Greg Horner Consulting  

TY 2025 InvestmentsCorpStockSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Name of Stock End of Year Book Value End of Year Fair Market Value
17464 Sh ADOBE SYSTEMS INC    
55218 Sh AIRBNB, INC.    
48328 Sh BLACKSTONE GROUP INC    
88550 Sh CHIPOTLE MEXICAN GRILL INC CL A    
99402 Sh COPART INC    
26646 Sh DANAHER CORP    
10406 Sh INTUIT    
12255 Sh INTUITIVE SURGICAL INC    
11088 Sh ELI LILLY & CO    
13637 Sh LULULEMON ATHLETICA INC    
9196 Sh MSCI INC    
20949 Sh MICROSOFT CORPORATION    
11908 Sh NETFLIX COM INC    
72270 Sh NVIDIA CORP    
16177 Sh S & P GLOBAL INC.    
4358 Sh SERVICENOW, INC.    
13560 Sh SYNOPSYS INC    
41176 Sh THE TRADE DESK, INC.    
1302 Sh TRANSDIGM GROUP INC    
12595 Sh VERTEX PHARMACEUTICALS INC    
29577 Sh VISA INC-CLASS A SHRS    
14110 Sh A S M L HOLDING N.V.    
18094 Sh AIRBNB, INC. 1,800,330 2,455,717
23438 Sh AMPHENOL CORP NEW CL A 3,217,289 3,167,411
11202 Sh A S M L HOLDING N.V. 7,037,714 11,984,572
11260 Sh AXON ENTERPRISE, INC. 7,039,488 6,394,892
48946 Sh BLACKSTONE GROUP INC 4,518,575 7,544,536
58191 Sh BOSTON SCIENTIFIC CORPORATION 5,683,175 5,548,512
30215 Sh BROADCOM INC 6,149,440 10,457,411
9353 Sh ELI LILLY & CO 4,392,263 10,051,482
4104 Sh FAIR, ISAAC INC 6,819,997 6,938,305
13549 Sh INTUITIVE SURGICAL INC 1,969,124 7,673,612
10135 Sh INTUIT 3,025,437 6,713,627
10790 Sh MSCI INC 5,705,516 6,190,547
90530 Sh NETFLIX COM INC 1,457,592 8,488,093
61365 Sh NVIDIA CORP 2,767,068 11,444,573
22933 Sh SERVICENOW, INC. 3,839,605 3,513,106
46069 Sh SHOPIFY INC 5,092,239 7,415,727
12670 Sh S & P GLOBAL INC. 1,903,614 6,621,215
7982 Sh SPOTIFY TECHNOLOGY S.A 4,629,409 4,635,227
20161 Sh SYNOPSYS INC 9,871,485 9,470,025
4408 Sh TRANSDIGM GROUP INC 5,698,983 5,861,979
7866 Sh VERTEX PHARMACEUTICALS INC 3,494,445 3,566,130
29955 Sh VISA INC-CLASS A SHRS 750,493 10,505,518

TY 2025 InvestmentsGovtObligationsSch
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
US Government Securities - End of Year Book Value:

10,793,759
US Government Securities - End of Year Fair Market Value:

10,851,170
State & Local Government Securities - End of Year Book Value:


 
State & Local Government Securities - End of Year Fair Market Value:


 


TY 2025 LandEtcSchedule2
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Machinery and Equipment 1,518 1,518    


TY 2025 LegalFeesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
5550 Legal Fees 35,590 0 0 0


TY 2025 OtherAssetsSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Interest Receivable 42,919 9,865 9,865


TY 2025 OtherExpensesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Admin fees 850      
Board Mtg. eeting Expenses 11,546 5,772    
Compliance expenses - Foreign 9,000     9,000
Database Management 5,443     5,443
Dues 1,690     1,690
HRA 10,944      
Insurance 5,681      
Interest paid 15      
Membership/Funder Affinity Groups 23,600     23,600
Office Expenses 7,250     7,250
Payroll Service Fees 14,306      
Website Development & Logo Mgmt. 6,600     6,600


TY 2025 OtherIncomeSchedule2
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Security Litigation settlement 3    


TY 2025 OtherLiabilitiesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Description Beginning of Year - Book Value End of Year - Book Value
CC Chase 2,711 686


TY 2025 OtherProfessionalFeesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
5334 Program Consultant 64,680 0 0 64,680
5530 Consulting Fees 133,215 0 0 0
5710-01 Investment Management Fees 1,213,321 1,213,321 0 0
5710-02 Custody Fees 68,832 68,832 0 0


TY 2025 TaxesSchedule
Name:
Tortuga Charitable Foundation
EIN:
51-0245279
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
5320 Payroll Taxes - Employer 27,041     27,041
5640 CHAR500 NYS 1,500     1,500
5650 Federal Taxes 345,547      
5650 PCORI Fees 3      
8800 Foreign Tax Withheld - Investments 15,075 15,075