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
WALDORF SCHOOLS OF NORTH AMERICA
 
Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 185
  Room/suite
City or town
PITTSBURGH
State or province
PA
Country  
ZIP or foreign postal code
152300185
A Employer identification number

16-6118934
B Telephone number (see instructions)

9142893037
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)$4,337,011J 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... 104,525 104,525  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 620,426
b Gross sales price for all assets on line 6a 780,751
7 Capital gain net income (from Part IV, line 2)... 620,426
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 724,951 724,951  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 49,583 29,750   19,833
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
9,451 1,941   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
250     250
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 59,284 31,691 0 20,083
25 Contributions, gifts, grants paid....... 224,543 224,543
26 Total expenses and disbursements. Add lines 24 and 25 ................ 283,827 31,691 0 244,626
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 441,124
b Net investment income (if negative, enter -0-) 693,260
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets 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......... 366,724 356,441 356,441
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
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 0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,665,101 Click to see attachment
List of Attached Documents:
// Content
2,116,471 		3,980,570
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,031,825 2,472,912 4,337,011
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22).........   0
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........ 2,031,825 2,472,912
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)..... 2,031,825 2,472,912
30 Total liabilities and net assets/fund balances (see instructions). 2,031,825 2,472,912
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
2,031,825
2
Enter amount from Part I, line 27a .....................
2
441,124
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
3,109
4
Add lines 1, 2, and 3 ..........................
4
2,476,058
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
3,146
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
2,472,912
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 1870.907 BNY MELLON EMERGING MKTS FD CL M SHS   2024-07-22 2025-05-16
b 4. GRAIL INC   2018-11-05 2025-05-16
c 100. AT&T INC   2007-11-13 2025-07-01
d 58. ABBVIE INC   2020-05-08 2025-07-01
e 100. AMAZON COM INC   2014-06-04 2025-07-01
200. APPLE INC   2009-03-06 2025-07-01
300. BRISTOL-MYERS SQUIBB CO   2014-06-04 2025-07-01
75. CVS HEALTH CORPORATION   2018-11-05 2025-07-01
50. CAPITAL ONE FINANCIAL CORP   2014-02-04 2025-07-01
50. CISCO SYSTEMS INC   2018-11-05 2025-07-01
50. COSTCO WHSL CORP NEW   2010-01-11 2025-07-01
100. EXXON MOBIL CORP   1997-04-07 2025-07-01
100. HONEYWELL INTL INC   2007-02-01 2025-07-01
25. ILLUMINA INC   2018-11-05 2025-07-01
200. PFIZER INC   2010-12-13 2025-07-01
50. STATE STREET CORP   2018-10-12 2025-07-01
80. AMAZON COM INC   2014-06-04 2025-09-22
500. APPLE INC   2009-03-06 2025-09-22
1409.78 BNY MELLON CORP BOND-M   2013-01-15 2025-09-22
50. COSTCO WHSL CORP NEW   2010-01-11 2025-09-22
1002.807 GATEWAY TR   2025-05-16 2025-09-22
193. WARNER BROS DISCOVERY INC   2007-11-08 2025-09-22
50. EATON CORP PLC   2012-11-30 2025-09-22
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 20,000   19,233 767
b 151   220 -69
c 2,887   3,006 -119
d 10,750   4,846 5,904
e 21,951   1,537 20,414
41,742   605 41,137
13,939   14,376 -437
5,193   5,527 -334
10,654   3,458 7,196
3,454   2,306 1,148
49,398   2,973 46,425
10,730   2,388 8,342
23,564   4,386 19,178
2,403   7,834 -5,431
4,882   3,266 1,616
5,289   4,101 1,188
18,437   1,230 17,207
124,065   1,512 122,553
17,735   18,384 -649
47,348   2,972 44,376
50,000   47,671 2,329
3,704   6,659 -2,955
18,702   1,835 16,867
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
      273,773
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       767
b       -69
c       -119
d       5,904
e       20,414
      41,137
      -437
      -334
      7,196
      1,148
      46,425
      8,342
      19,178
      -5,431
      1,616
      1,188
      17,207
      122,553
      -649
      44,376
      2,329
      -2,955
      16,867
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 620,426
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 9,636
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 9,636
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 9,636
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 5,476
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 5,476
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 4,160
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 tax0 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (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)
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 address  
14
The books are in care ofBNY MELLON NA Telephone no. (914) 289-3037

Located atPO BOX 185PITTSBURGHPA ZIP+4152300185
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
 
 
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
BNY MELLON N A TRUSTEE
1 		49,583    
PO BOX 185
PITTSBURGH,PA152300185
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
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
4,046,389
b
Average of monthly cash balances.......................
1b
235,606
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
4,281,995
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
4,281,995
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
64,230
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
4,217,765
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
210,888
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
210,888
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
9,636
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,636
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
201,252
4
Recoveries of amounts treated as qualifying distributions................
4
3,000
5
Add lines 3 and 4............................
5
204,252
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
204,252
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
244,626
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
244,626
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 7 204,252
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...... 39,148
b From 2021...... 0
c From 2022...... 44,054
d From 2023...... 25,294
e From 2024...... 17,077
f Total of lines 3a through e ........ 125,573
4Qualifying distributions for 2025 from Part
XI, line 4: $ 244,626
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..... 204,252
e Remaining amount distributed out of corpus 40,374
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 5 165,947
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) ... 		39,148
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		126,799
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 44,054
c Excess from 2023 .... 25,294
d Excess from 2024 .... 17,077
e Excess from 2025 .... 40,374
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).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
NONE
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here 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

SUNBRIDGE INSTITUTE

285 HUNGRY HOLLOW ROAD
CHESTNUT RIDGE,NY10977 		NONE   GENERAL OPERATING 24,150

DETROIT WALDORF SCHOOL

2555 BURNS AVE
DETRIOT,MI48214 		NONE   GENERAL OPERATING 7,875

HOUSATONIC WALDORF SCHOOL

40 DODGINGTOWN RD
NEWTON,CT06470 		NONE   GENERAL OPERATING 7,875

GREEN MEADOW WALDORF SCHOOL

307 HUNGRY HOLLOW RD
CHESTNUT RIDGE,NY10977 		NONE   GENERAL OPERATING 6,300

MARIN WALDORF SCHOOL

755 IDYLBERRY RD
SAN RAFAEL,CA94903 		NONE   GENERAL OPERATING 3,570

WALDORF SCHOOL OF LEXINGTON

739 MASSACHUSETTS AVE
LEXINGTON,MA02420 		NONE   GENERAL OPERATING 2,100

CENTER FOR ANTHROPOSOPHY

43 MAIN ST
WILTON,NH030864402 		NONE   GENERAL OPERATING 31,500

MEADOWBROOK WALDORF SCHOOL

300 KINGSTON RD
WEST KINGSTON,RI02892 		NONE   GENERAL OPERATING 4,725

AURORA WALDORF SCHOOL

525 W FALLS RD
WEST FALLS,NY141709758 		NONE   GENERAL OPERATING 7,875

SUSQUEHANNA WALDORF SCHOOL

15 W WALNUT ST
MARIETTA,PA17547 		NONE   GENERAL OPERATING 3,675

WALDORF SCHOOL ASS OF THE DE RIVER VALLE

1395 BRIDGETON HILL RD
UPPR BLCK EDY,PA189729721 		NONE   GENERAL OPERATING 7,875

WALDORF SCHOOL OF BALTIMORE

4801 TAMARIND RD
BALTIMORE,MD212094645 		NONE   GENERAL OPERATING 3,360

PLEASANT RIDGE WALDORF SCHOOL

431 E COURT ST
VIROQUA,WI546651716 		NONE   GENERAL OPERATING 5,250

WALDORF SCHOOL OF ATLANTA

827 KIRK RD
DECATUR,GA300304530 		NONE   GENERAL OPERATING 6,825

TARA INSTITUTE OF THE PERFORMING ARTS

4180 19TH ST
BOULDER,CO803040903 		NONE   GENERAL OPERATING 8,400

GREAT LAKES WALDORF INSTITUTE

2900 N MENOMONEE RIVER PKWY
MILWAUKEE,WI532224545 		NONE   GENERAL OPERATING 10,500

SOUND CIRCLE CENTER FOR ARTS AND ANTHROP

15328 40TH AVE W L
LYNNWOOD,WA980876107 		NONE   GENERAL OPERATING 10,500

ANCHORAGE WALDORF SCHOOL

3250 BAXTER RD
ANCHORAGE,AK99504 		NONE   GENERAL OPERATING 6,300

PORTLAND WALDORF SCHOOL

2300 SE HARRISON ST
MILWAUKEE,OR97222 		NONE   GENERAL OPERATING 4,463

WALDORF TEACHER TRAINING EUGENE

3976 OAK ST
EUGENE,OR974053953 		NONE   GENERAL OPERATING 21,000

SUMMERFIELD WALDORF SCHOOL

655 WILLOWSIDE RD
SANTA ROSA,CA95401 		NONE   GENERAL OPERATING 8,400

SANTA CRUZ WALDORF SCHOOL ASSN

2190 EMPIRE GRADE
SANTA CRUZ,CA950609746 		NONE   GENERAL OPERATING 4,725

SAN FRANCISCO WALDORF SCHOOL

2938 WASHINGTON ST
SAN FRANCISCO,CA94115 		NONE   GENERAL OPERATING 6,300

HONOLULU WALDORF SCHOOL

350 ULUA ST
HONOLULU,HI96821 		NONE   GENERAL OPERATING 10,500

MALAMALAMA WALDORF SCHOOL

HC 3 BOX 13068
KEAAU,HI96749 		NONE   GENERAL OPERATING 10,500
Total ................................. 3a 224,543
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 ....     14 104,525  
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 ............ 		    18 620,426  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   724,951  
13Total. Add line 12, columns (b), (d), and (e)..................
13
724,951
(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 InvestmentsOtherSchedule2
Name:
WALDORF SCHOOLS OF NORTH AMERICA
EIN:
16-6118934
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
452327109 ILLUMINA INC      
58933Y105 MERCK & CO INC AT COST 25,129 52,630
91913Y100 VALERO ENERGY CORP N AT COST 9,689 97,674
G1151C101 ACCENTURE PLC IRELAN AT COST 17,598 53,660
00724F101 ADOBE INC AT COST 20,940 139,996
05569M509 BNY MELLON M/C MULTI AT COST 290,356 51,099
17275R102 CISCO SYSTEMS INC AT COST 9,224 15,406
126650100 CVS CORP      
254687106 WALT DISNEY CO/THE AT COST 12,753 62,574
438516106 HONEYWELL INTL INC AT COST 16,511 78,036
22160K105 COSTCO WHSL CORP NEW AT COST 11,890 172,468
713448108 PEPSICO INC AT COST 14,831 71,760
717081103 PFIZER INC AT COST 16,329 24,900
79466L302 SALESFORCE COM INC AT COST 15,308 79,473
14040H105 CAPITAL ONE FINANCIA AT COST 13,832 48,472
G29183103 EATON CORP PLC AT COST 12,848 111,479
02079K305 ALPHABET INC/CA-CL A AT COST 12,106 187,800
060505104 BANK OF AMERICA CORP AT COST 13,785 27,500
166764100 CHEVRON CORPORATION AT COST 25,496 60,964
30231G102 EXXON MOBIL CORP AT COST 11,941 60,170
742718109 PROCTER & GAMBLE CO AT COST 33,203 71,655
92826C839 VISA INC-CLASS A SHR AT COST 11,061 35,071
437076102 HOME DEPOT INC AT COST 9,451 137,640
002824100 ABBOTT LABORATORIES AT COST 15,892 50,116
857477103 STATE STREET CORP AT COST 8,202 12,901
92343V104 VERIZON COMMUNICATIO AT COST 25,694 32,584
988498101 YUM BRANDS INC AT COST 11,339 75,640
023135106 AMAZON COM INC AT COST 11,066 166,190
05569M855 BNY MELLON EMERGING AT COST 143,311 199,811
110122108 BRISTOL MYERS SQUIBB      
00206R102 AT&T INC AT COST 18,318 17,388
037833100 APPLE INC AT COST 3,023 271,860
05569M368 BNY MELLON CORP BOND      
91324P102 UNITED HEALTH GROUP AT COST 10,528 16,506
05588E850 BNY MELLON HIGH YIEL AT COST 115,528 118,440
05589K400 BNYM FLTNG RT INC-Y AT COST 60,000 51,532
05588F709 BNY MELLON DEVELOPED AT COST 45,000 44,121
68902V107 OTIS WORLDWIDE CORP AT COST 6,448 17,470
14448C104 CARRIER GLOBAL CORP AT COST 5,376 26,420
00287Y109 ABBVIE INC AT COST 4,178 11,425
75513E101 RTX CORPORATION AT COST 17,934 91,700
934423104 DISCOVERY INC-W/I      
464287200 ISHARES CORE S&P 500 AT COST 123,495 198,633
023135CR5 AMAZON.COM INC AT COST 25,382 25,700
037833EV8 APPLE INC AT COST 25,063 25,327
06051GLH0 BANK OF AMERICA CORP AT COST 24,765 25,739
09247XAT8 BLACKROCK INC AT COST 24,931 25,577
367829884 GATEWAY TR AT COST 89,787 101,877
38145N220 GOLDMAN SACHS ABS RE AT COST 50,320 53,550
384747101 GRAIL INC      
464287507 ISHARES CORE S&P MID AT COST 12,104 13,200
464287804 ISHARES CORE S&P SMA AT COST 55,075 60,090
46432F842 ISHARES CORE MSCI EA AT COST 58,477 67,095
46647PDR4 JPMORGAN CHASE & CO AT COST 25,094 25,975
64122Q705 NEUBERGER BERMAN INT AT COST 10,480 12,235
64128R608 NEUBERGER BERMAN LON AT COST 56,460 60,270
78016FZX5 ROYAL BANK OF CANADA AT COST 25,030 25,736
857477CC5 STATE STREET CORP AT COST 24,852 25,846
89115A2E1 TORONTO-DOMINION BAN AT COST 23,980 24,952
05569M830 BNY MELLON BOND FUND AT COST 230,000 228,970
14064D774 FULLTHALER BEH S/C G AT COST 22,313 27,095
14949P208 CAUSEWAY INTL VALUE AT COST 5,633 5,875
31618H283 FIDELITY ADV INTL SM AT COST 17,929 18,505
46641Q332 JPMORGAN EQUITY PREM AT COST 78,150 78,934
83443Q103 SOLSTICE ADVANCED MA AT COST 1,033 4,858

TY 2025 OtherDecreasesSchedule
Name:
WALDORF SCHOOLS OF NORTH AMERICA
EIN:
16-6118934
Description Amount
COST BASIS ADJUSTMENT 3,146


TY 2025 OtherExpensesSchedule
Name:
WALDORF SCHOOLS OF NORTH AMERICA
EIN:
16-6118934
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE INCOME TAXES - PRINCIPAL 250 0   250


TY 2025 OtherIncreasesSchedule
Name:
WALDORF SCHOOLS OF NORTH AMERICA
EIN:
16-6118934
Description Amount
RECOVERY OF GRANTS PAID 3,000
MUTUAL FUND TIMING ADJ 109


TY 2025 TaxesSchedule
Name:
WALDORF SCHOOLS OF NORTH AMERICA
EIN:
16-6118934
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 1,862 1,862   0
FEDERAL TAX PAYMENT - PRIOR YE 2,034 0   0
FEDERAL ESTIMATES - PRINCIPAL 5,476 0   0
FOREIGN TAXES ON NONQUALIFIED 79 79   0