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
NATIONAL RECREATION FOUNDATION
INCORPORATED
Number and street (or P.O. box number if mail is not delivered to street address) 736 NORTH WESTERN AVENUE 221
  Room/suite
City or town
LAKE FOREST
State or province
IL
Country  
ZIP or foreign postal code
600451820
A Employer identification number

13-6172514
B Telephone number (see instructions)

2248806550
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)$56,431,148J 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) 500
2 Check .................
3 Interest on savings and temporary cash investments 368,157 368,157  
4 Dividends and interest from securities... 446,459 446,459  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,452,463
b Gross sales price for all assets on line 6a 12,760,209
7 Capital gain net income (from Part IV, line 2)... 2,452,463
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
2,286 0  
12 Total. Add lines 1 through 11........ 3,269,865 3,267,079  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 327,625 3,276   317,190
14 Other employee salaries and wages...... 141,800 0   141,800
15 Pension plans, employee benefits....... 29,089 291   27,045
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
51,488 0   41,604
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
46,510 0   46,510
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
231,664 122,393   125,374
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
136,047 294   28,495
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 46,273 0   43,790
21 Travel, conferences, and meetings....... 59,200 0   59,200
22 Printing and publications.......... 255 0   255
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
40,356 0   40,356
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,110,307 126,254   871,619
25 Contributions, gifts, grants paid....... 2,214,500 2,422,500
26 Total expenses and disbursements. Add lines 24 and 25 ................ 3,324,807 126,254   3,294,119
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -54,942
b Net investment income (if negative, enter -0-) 3,140,825
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 2,615,816 1,848,241 1,848,241
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.......... 38,771 10,458 10,458
10a Investments—U.S. and state government obligations (attach schedule) 8,465,657 Click to see attachment
List of Attached Documents:
// Content
9,339,205 		9,339,205
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 513,387 Click to see attachment
List of Attached Documents:
// Content
350,301 		350,301
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 40,411,522 Click to see attachment
List of Attached Documents:
// Content
44,703,297 		44,703,297
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
174,612 		Click to see attachment
List of Attached Documents:
// Content
179,646 		Click to see attachment
List of Attached Documents:
// Content
179,646
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 52,219,765 56,431,148 56,431,148
Liabilities 17 Accounts payable and accrued expenses.......... 47,862 51,219
18 Grants payable................. 1,511,000 1,303,000
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
304,567 		Click to see attachment
List of Attached Documents:
// Content
368,955
23 Total liabilities (add lines 17 through 22)......... 1,863,429 1,723,174
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........... 50,101,336 54,707,974
25 Net assets with donor restrictions............ 255,000 0
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    
29 Total net assets or fund balances (see instructions)..... 50,356,336 54,707,974
30 Total liabilities and net assets/fund balances (see instructions). 52,219,765 56,431,148
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
50,356,336
2
Enter amount from Part I, line 27a .....................
2
-54,942
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
4,406,580
4
Add lines 1, 2, and 3 ..........................
4
54,707,974
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
54,707,974
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      
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 12,760,209   10,307,746 2,452,463
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       2,452,463
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 2,452,463
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 43,657
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 43,657
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 43,657
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 36,040
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 36,040
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 7,617
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   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. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
GA, IL, 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 addressWWW.NATIONALRECREATIONFOUNDATION.ORG
14
The books are in care ofSOPHIA B TWICHELL Telephone no. (224) 880-6547

Located at736 NORTH WESTERN AVENUE SUITE 221LAKE FORESTIL ZIP+460045
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
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
 
No
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
SOPHIA B TWICHELL PRESIDENT & CEO
40.00 		260,625 25,974 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
PEGGY BURNET TRUSTEE/CHAIR
2.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
MYRON F FLOYD TRUSTEE/VICE CHAIR
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
KIM BAILEY TRUSTEE/SECRETARY
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
KAREN A STEWART-RAMOS TRUSTEE/TREASURER
2.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
JOSEPH B ANDERSON JR TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
LYNNE M O BRICKNER TRUSTEE
2.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
ENDICOTT P DAVISON JR TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
GARY HALL TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
JACKIE JOYNER-KERSEE TRUSTEE RESIGNED 07/28/25
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
MARTIN J LEBLANC TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
LILA LEFF TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
ELSIE MCCABE THOMPSON TRUSTEE RETIRED 10/26/25
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
JOHN W MCCARTER JR TRUSTEE RETIRED 10/26/25
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
BAKEYAH S NELSON TRUSTEE RESIGNED 08/20/25
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
NICHOLAS G PENNIMAN IV TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
ANDRA RUSH TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
JONATHAN D SCOTT TRUSTEE RETIRED 10/26/2025
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
LEE A STOREY TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
NADJA Y WEST TRUSTEE
1.00 		0 0 0
736 NORTH WESTERN AVE STE 221
LAKE FOREST,IL60045
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
CAPFINANCIAL PARTNERS LLC INVESTMENT ADVISORY 78,311
4208 SIX FORKS RD STE 1700
RALEIGH,NC27609
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 NATIONAL RECREATION FOUNDATION HOSTED VIRTUAL CAPACITY-BUILDING WORKSHOPS AND TRAININGS FOR GRANTEES IN 2025 ON TOPICS INCLUDING WHAT A DIFFERENCE A SABBATICAL MAKES; NURTURING YOUR SOUL: SUSTAINABLE SELF-CARE; NONPROFIT LEGAL BASICS: COMPLIANCE WITH CONFIDENCE; JAM SESSIONS ON FUNDRAISING AND STORYTELLING; ELEVATE YOUR FUNDRAISING AND GRANTSEEKING CAPACITY IN THE CURRENT ENVIRONMENT; MAKING YOUR GRANT PROPOSALS STAND OUT WITH EVALUATIVE THINKING AND DATA; AND PLANNING TO ACTION: SIX PHASES FOR STRATEGIC PLANS THAT STICK. NRF ALSO HOSTED PEER LEADERSHIP CIRCLES, A YEAR-LONG STRATEGIC PLANNING COHORT WITH AI-ENHANCED STRATEGIC PLANNING SOFTWARE, PROVIDED EVALUATION SUPPORT THROUGH UNIVERSITY RESEARCHERS SPECIALIZING IN OUTDOOR RECREATION PROGRAM EVALUATION, AND HOSTED TWO IN-PERSON EVENTS WITH FUNDERS, INCLUDING ONE WORKSHOP IN ALBUQUERQUE AND A LEADERSHIP COHORT MEETING IN CHICAGO. THESE PROGRAMS WERE OFFERED AT NO COST TO PARTICIPANTS. 170,794
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
51,264,803
b
Average of monthly cash balances.......................
1b
1,687,108
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
52,951,911
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
52,951,911
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
794,279
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
52,157,632
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
2,607,882
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
2,607,882
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
43,657
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
43,657
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,564,225
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,564,225
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,564,225
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
3,294,119
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,294,119
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 2,564,225
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021...... 398,245
c From 2022...... 712,332
d From 2023...... 561,010
e From 2024...... 1,121,858
f Total of lines 3a through e ........ 2,793,445
4Qualifying distributions for 2025 from Part
XI, line 4: $ 3,294,119
a Applied to 2024, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 2,564,225
e Remaining amount distributed out of corpus 729,894
5 Excess distributions carryover applied to 2025. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 3,523,339
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		3,523,339
10 Analysis of line 9:
a Excess from 2021 .... 398,245
b Excess from 2022 .... 712,332
c Excess from 2023 .... 561,010
d Excess from 2024 .... 1,121,858
e Excess from 2025 .... 729,894
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

A WARM CURRENT

5008 17TH AVE NW SUITE 1623
SEATTLE,WA98501 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

ADVENTURE CREW

2692 MADISON ROAD N1-414
CINCINNATI,OH45208 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

ARIZONA TRAIL ASSOCIATION

738 N 5TH AVE STE 201
TUCSON,AZ85705 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

THE ASPEN INSTITUTEFORUM FOR COMMUNITY SOLUTIONS

2300 N STREET NW SUITE 700
WASHINGTON,DC20037 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 160,000

BACKYARD BASECAMP INC

5111 PLAINFIELD AVENUE
BALTIMORE,MD21206 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 5,000

BEYOND THE BALL

3000 S LAWNDALE AVENUE
CHICAGO,IL60623 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000

BLACK KIDS ADVENTURES

2520 MILLWOOD CIRCLE SE
HUNTSVILLE,AL35803 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

BRIDGER SKI FOUNDATION

2339 BIRDIE DRIVE
BOZEMAN,MT59715 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

BRONX CHILDREN'S MUSEUM

725 EXTERIOR STREET
BRONX,NY10451 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

BROTHERS ON THE RISE

2700 INTERNATIONAL BVD 30
OAKLAND,CA94601 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

BROWN GIRLS CLIMB

67 WEST ST SUITE 401
BROOKLYN,NY11222 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

BRUSHWOOD CENTER AT RYERSON WOODS

21850 N RIVERWOODS ROAD
RIVERWOODS,IL60015 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 50,000

CAMP PHOENIX

10974 STAR COURT
OAKLAND,CA94603 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

CATALINA ISLAND CONSERVANCY

320 GOLDEN SHORE SUITE 220
LONG BEACH,CA90802 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 101,000

CENTER FOR NATIVE AMERICAN YOUTH AT THE ASPEN INSTITUTE

2300 N ST NW
WASHINGTON,DC20037 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

CENTER FOR RESEARCH EDUCATION ARTS TECHNOLOGY & ENTERPRISE

80 HIGHWAY 22
MILLEDGEVILLE,GA31061 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

CHEYENNE RIVER YOUTH PROJECT

PO BOX 410
EAGLE BUTTE,SD57625 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 100,000

CHICAGO TRAINING CENTER

PO BOX 7076
CHICAGO,IL606807076 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 100,000

CHICAGO VOYAGERS

318 N ELMWOOD LANE
PALATINE,IL60067 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000

COMMON GROUNDNEW HAVE ECOLOGY PROJECT

358 SPRINGSIDE AVENUE
NEW HAVEN,CT06515 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

COMMUNITY MOVEMENT BUILDERS (FISCAL SPONSOR FOR EARTHSEED FARM)

790 WELCH ST SW
ATLANTA,GA30310 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

CULTIVATE COLLECTIVE

4944 W 44TH STREET
CHICAGO,IL60638 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

DAKOTA WICHOHAN

230 WEST 2ND STREET
MORTON,MN56270 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 12,500

DINE' WE CAN

PO BOX 3043
INDIAN WELLS,AZ86031 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

ENVIRONMENTAL GRANTMAKERS ASSOCIATIONBLUE SKY FUNDERS FORUM

475 RIVERSIDE DR SUITE 960
NEW YORK,NY10115 		NONE   GENERAL SUPPORT 5,000

EXCITE ALL STARS

4949 BULLARD AVENUE STE A
NEW ORLEANS,LA70128 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 17,500

FAMILIES IN NATURE

3571 FAR WEST BLVD 150
AUSTIN,TX787313064 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 50,000

FIELD INSTITUTE OF TAOS

PO BOX 486
ARROYO SECO,NM87514 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

FOREFRONT

200 WEST MADISON STREET 2ND FLOOR
CHICAGO,IL60606 		NONE   GENERAL SUPPORT 6,000

FRIENDS OF MOMENTUM BIKE CLUBS

PO BOX 16191
GREENVILLE,SC29606 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 100,000

FRIENDS OF NATURE PARKS

3540 EAST UNIVERSITY AVENUE
GAINESVILLE,FL32641 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

FRIENDS OF THE DPS HUB FARM

117 MILTON ROAD
DURHAM,NC27712 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

GALLATIN GATEWAY YOUTH GROUP

PO BOX 422
GALLATIN GATEWAY,MT59730 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

GARDENEERS

3414 W ROOSEVELT RD UNIT 2
CHICAGO,IL60624 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 60,000

GIRLS INCORPORATED OF ST LOUIS

3801 NELSON DRIVE
ST LOUIS,MT63121 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

GRAND CANYON YOUTH

2131 N 1ST ST
FLAGSTAFF,AZ86004 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 70,000

GULF SPECIMEN MARINE LABORATORIES

PO BOX 237
PANACEA,FL32346 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

HERITAGE CONSERVANCY

85 OLD DUBLIN PIKE
DOYLESTOWN,PA18901 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

IRONWOOD TREE EXPERIENCE

738 N 5TH AVE STE 101
TUCSON,AZ857058485 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 97,000

LARU BEYA COLLECTIVE INC

360 BEACH 59TH STREET
ARVERNE,NY11692 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

LOCALOGY

HC 81 BOX 41
QUESTA,NM87556 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

LOOKOUT MOUNTAIN CONSERVANCY

PO BOX 76
LOOKOUT MOUNTAIN,TN37350 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

LOOP NOLA

1 PALM DRIVE
NEW ORLEANS,LA70124 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

LOWER BRULE SIOUX TRIBE

PO BOX 246
LOWER BRULE,SD57548 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

MUDDY SNEAKERS

PO BOX 146
BREVARD,NC28712 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 100,000

MUSEUM OF THE ROCKIES

600 W KAGY BOULEVARD
BOZEMAN,MT59717 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

NAPLES BOTANICAL GARDEN

71 WATERS VIEW DRIVE
PIKE ROAD,AL36064 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

OAYE LUTA OKOLAKICIYE

24 E MALL DRIVE
RAPID CITY,SD57701 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

OUTDOOR INCLUSION COALITION

3706 BUTLER STREET 209
PITTSBURGH,PA15201 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

POWERPLAY NYC

4 W 43RD STREET 3RD FLOOR
NEW YORK,NY10036 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

PURGATOIRE WATERSHED PARTNERSHIP

3590 E MAIN STREET
TRINIDAD,CO81082 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

REFUGEE EDUCATION & ADVENTURE CHALLENGE

743 N TAYLOR AVENUE
OAK PARK,IL60302 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000

SAILMAINE INC

PO BOX 574
PORTLAND,ME04101 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 49,000

SACRED STORM BUFFALOWAMBLI SKA COMMUNITY DEVELOPMENT SOCIETY

PO BOX 887
RAPID CITY,SD57709 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

SEE YOU AT THE TOP

4550 LEE ROAD
CLEVELAND,OH44128 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

THE SEMILLA PROJECT

625 SILVER AVENUE SW SUITE 320
ALBUQUERQUE,NM87102 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

SHEJUMPS

4760 S HIGHLAND DRIVE SUITE 209
SALT LAKE CITY,UT84117 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

SITKA TRAIL WORKS

801 HALIBUT POINT ROAD
SITKA,AK99835 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

SOUL TRAK OUTDOORS

1651 1/2 38TH STREET SE
WASHINGTON,DC20020 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

STREETWAVES CORPORATION

14280 S MILITARY TRAIL
DELRAY BEACH,FL33484 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

THUNDER VALLEY COMMUNITY DEVELOPMENT CORPORATION

290 EMPOWERMENT DRIVE
PORCUPINE,SD57772 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

URBAN ADVENTURE SQUAD

1101 CONNECTICUT AVE NW 450
WASHINGTON,DC20036 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

VAMOS OUTDOOR PROJECT

4120 MERIDIAN STREET SUITE 160
BELLINGHAM,WA98226 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

VIBE TRIBE ADVENTURES

1250 S BUCKLEY ROAD UNIT 232
AURORA,CO80017 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

THE WATERSMITH GUILD

20 BROMLEY CIRCLE
CHESWICK,PA15024 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 1,000

WENATCHEE RIVER INSTITUTE

PO BOX 2073
LEAVENWORTH,WA98826 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 10,000

WEST ATLANTA WATERSHED ALLIANCE

PO BOX 10883
ATLANTA,GA30310 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

WEST POINT ASSOCIATION OF GRADUATES

698 MILLS ROAD
WEST POINT,NY10996 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

WILDERNESS INQUIRY

1611 COUNTY ROAD B WEST SUITE 315
ST PAUL,MN55113 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000

WILDERNESS YOUTH PROJECT

2040 ALAMEDA PADRE SERRA SUITE 224
SANTA BARBARA,CA93103 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 31,000

WORKING BIKES

2434 S WESTERN AVENUE
CHICAGO,IL60608 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 37,500

WOZU INC

7039 HIGHWAY 1806
CANNONBALL,ND58528 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

YMCA OF GREATER SEATTLE

909 4TH AVENUE
SEATTLE,WA98104 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 100,000

YOUTH SEEN

PO BOX 367
BROOMFIELD,CO80038 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

ZUNI YOUTH ENRICHMENT PROJECT

PO BOX 447
ZUNI,NM87327 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 15,000
Total ................................. 3a 2,422,500
bApproved for future payment

A WARM CURRENT
5008 17TH AVE NW SUITE 1623
SEATTLE,WA98501 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

ADVENTURE CREW
2692 MADISON ROAD N1-414
CINCINNATI,OH45208 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

ARIZONA TRAIL ASSOCIATION
738 N 5TH AVE STE 201
TUCSON,AZ85705 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

CAMP PHOENIX
10974 STAR COURT
OAKLAND,CA94603 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

THE CENTER OF SOUTHWEST CULTURE
505 MARQUEETE AVE NW SUITE 1610
ALBUQUERGUE,NM87102 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 80,000

CENTER FOR NATIVE AMERICAN YOUTH AT THE ASPEN INSTITUTE
2300 N ST NW
WASHINGTON,DC20037 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

CHICAGO TRAINING CENTER
PO BOX 7076
CHICAGO,IL606807076 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 70,000

CHEYENNE RIVER YOUTH PROJECT
PO BOX 410
EAGLE BUTTE,SD57625 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000

CHICAGO VOYAGERS
318 N ELMWOOD LANE
PALATINE,IL60067 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 55,000

COMMON GROUNDNEW HAVE ECOLOGY PROJECT
358 SPRINGSIDE AVENUE
NEW HAVEN,CT06515 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

COMMON GOOD (FISCAL SPONSOR FOR EARTHSEED FARM)
PO BOX 21
ASHFIELD,MA01300 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

DAKOTA WICHOHAN
230 WEST 2ND STREET
MORTON,MN56270 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

ENVIRONMENTAL GRANTMAKERS ASSOCIATIONBLUE SKY FUNDERS FORUM
475 RIVERSIDE DR SUITE 960
NEW YORK,NY10115 		NONE   GENERAL SUPPORT 5,000

EXCITE ALL STARS
4949 BULLARD AVENUE STE A
NEW ORLEANS,LA70128 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 80,000

FRIENDS OF MOMENTUM BIKE CLUBS
PO BOX 16191
GREENVILLE,SC29606 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 70,000

FRIENDS OF NATURE PARKS
3540 EAST UNIVERSITY AVENUE
GAINESVILLE,FL32641 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 5,000

FRIENDS OF ORGAN MOUNTAINS-DESERT PEAKS
PO BOX 2676
LAS CRUCES,NM88004 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000

GARDENEERS
3414 W ROOSEVELT RD UNIT 2
CHICAGO,IL60624 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

GRAND CANYON YOUTH
2131 N 1ST ST
FLAGSTAFF,AZ86004 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 40,000

IRONWOOD TREE EXPERIENCE
738 N 5TH AVE STE 101
TUCSON,AZ857058485 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 68,000

LA SEMILLA FOOD CENTER
PO BOX 2579
ANTHONY,NM88021 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 65,000

LOOKOUT MOUNTAIN CONSERVANCY
PO BOX 76
LOOKOUT MOUNTAIN,TN37350 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

LOOP NOLA
1 PALM DRIVE
NEW ORLEANS,LA70124 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

NAPLES BOTANICAL GARDEN
71 WATERS VIEW DRIVE
PIKE ROAD,AL36064 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

POWERPLAY NYC
4 W 43RD STREET 3RD FLOOR
NEW YORK,NY10036 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

SEE YOU AT THE TOP
4550 LEE ROAD
CLEVELAND,OH44128 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

THE SEMILLA PROJECT
625 SILVER AVENUE SW SUITE 320
ALBUQUERQUE,NM87102 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

SEVENTH GENERATION FUND FOR INDIGENOUS PEOPLES INC
20750 BIA 2
INTERIOR,SD57750 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 25,000

SITKA TRAIL WORKS
801 HALIBUT POINT ROAD
SITKA,AK99835 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

STREETWAVES CORPORATION
14280 S MILITARY TRAIL
DELRAY BEACH,FL33484 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

URBAN ADVENTURE SQUAD
1101 CONNECTICUT AVE NW 450
WASHINGTON,DC20036 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

VAMOS OUTDOOR PROJECT
4120 MERIDIAN STREET SUITE 160
BELLINGHAM,WA98226 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

VIBE TRIBE ADVENTURES
1250 S BUCKLEY ROAD UNIT 232
AURORA,CO80017 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

WENATCHEE RIVER INSTITUTE
PO BOX 2073
LEAVENWORTH,WA98826 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

WEST POINT ASSOCIATION OF GRADUATES
698 MILLS ROAD
WEST POINT,NY10996 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 30,000

WILDERNESS INQUIRY
1611 COUNTY ROAD B WEST SUITE 315
ST PAUL,MN55113 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 20,000

ZUNI YOUTH ENRICHMENT PROJECT
PO BOX 447
ZUNI,NM87327 		NONE   IN SUPPORT OF YOUTH OUTDOOR RECREATION PROGRAMS 75,000
Total ................................. 3b 1,308,000
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 368,157  
4 Dividends and interest from securities ....     14 446,459  
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 2,452,463  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aMISCELLANEOUS INCOME 		    01 2,286  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 3,269,365 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,269,365
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 46,510 0   46,510

TY 2025 InvestmentsCorpBondsSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Name of Bond End of Year Book Value End of Year Fair Market Value
INVESTMENTS - CORPORATE BONDS 350,301 350,301

TY 2025 InvestmentsGovtObligationsSch
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
US Government Securities - End of Year Book Value:

9,339,205
US Government Securities - End of Year Fair Market Value:

9,339,205
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2025 InvestmentsOtherSchedule2
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
OTHER PUBLICLY TRADED SECURITIES - ALTERNATIVE INVESTMENTS FMV 9,079,458 9,079,458
OTHER SECURITIES - MUTUAL FUNDS FMV 35,623,839 35,623,839

TY 2025 LegalFeesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 51,488 0   41,604


TY 2025 OtherAssetsSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED INCOME 127,029 130,643 130,643
RIGHT OF USE ASSET 47,583 49,003 49,003


TY 2025 OtherExpensesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADMINISTRATIVE/OFFICE EXPENSE 17,047 0   17,047
DIRECTOR AND OFFICER INSURANCE 964 0   964
DUES AND SUBSCRIPTIONS 11,314 0   11,314
GENERAL LIABILITY INSURANCE 677 0   677
WEBSITE EXPENSE 7,130 0   7,130
SMALL EQUIPMENT EXPENSES 332 0   332
INSURANCE 1,377 0   1,377
STATE CHARITABLE REGISTRATION FEE 1,515 0   1,515


TY 2025 OtherIncomeSchedule2
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MISCELLANEOUS INCOME 2,286   2,286


TY 2025 OtherIncreasesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Description Amount
UNREALIZED GAIN - FAIR MARKET VALUE 4,406,580


TY 2025 OtherLiabilitiesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Description Beginning of Year - Book Value End of Year - Book Value
DEFERRED FEDERAL EXCISE TAX 256,984 319,952
OPERATING LEASE LIABILITY 47,583 49,003


TY 2025 OtherProfessionalFeesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT/BANK FEES 122,058 122,058   0
OTHER PROFESSIONAL FEES 108,117 335   123,885
PAYROLL PROCESSING FEES 1,489 0   1,489


TY 2025 TaxesSchedule
Name:
NATIONAL RECREATION FOUNDATION
 
INCORPORATED
EIN:
13-6172514
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAXES 29,424 294   28,495
TAXES PAID 106,623 0   0