TY 2025 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2025

Open to Public Inspection

For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25

Name of foundation
GEORGE D SMITH FUND INC

Number and street (or P.O. box number if mail is not delivered to street address) 1525 E 53RD STREET SUITE 502
Room/suite

City or town
CHICAGO

State or province
IL

Country

ZIP or foreign postal code
60615

A Employer identification number

13-6138728

B Telephone number (see instructions)

7733411410

C If exemption application is pending, check here

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

Address change Name change

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

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

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

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

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

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$98,206,716J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .................
3	Interest on savings and temporary cash investments	42,667		42,667
4	Dividends and interest from securities...	2,072,247		2,072,247
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		489,136
b	Gross sales price for all assets on line 6a 10,539,868
7	Capital gain net income (from Part IV, line 2)...			489,136
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	2,604,050		2,604,050
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	5,000	2,500	2,500
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	53,776	17,229	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	185,959	185,178	781
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	244,735		204,907	3,281
25	Contributions, gifts, grants paid.......	4,350,000			4,350,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	4,594,735		204,907	4,353,281
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,990,685
b	Net investment income (if negative, enter -0-)			2,399,143
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	3,187,945	2,987,488	2,987,488
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	20,070,740	List of Attached Documents: // Content 19,191,719	67,527,637
	c	Investments—corporate bonds (attach schedule).......	28,624,698	List of Attached Documents: // Content 27,707,426	27,685,526
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	List of Attached Documents: // Content 0	List of Attached Documents: // Content 6,065	List of Attached Documents: // Content 6,065
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	51,883,383	49,892,698	98,206,716
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	51,883,383	49,892,698
	29	Total net assets or fund balances (see instructions).....	51,883,383	49,892,698
	30	Total liabilities and net assets/fund balances (see instructions).	51,883,383	49,892,698

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

51,883,383

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

-1,990,685

Other increases not included in line 2 (itemize)

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

49,892,698

Decreases not included in line 2 (itemize)

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

49,892,698

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	(d) Date sold (mo., day, yr.)
1 a	PUBLICLY TRADED SECURITIES THOUGH JPMORGAN	P	2025-12-31
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	10,539,868	10,050,732	489,136
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			489,136
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	489,136
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 .........................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	33,348
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	33,348
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	33,348
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	31,680
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	31,680
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	1,668
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)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

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

(1) On the foundation. $ 0(2) On foundation managers.$ 0

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

on foundation managers.$ 0

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

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

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

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

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website addressN/A

The books are in care ofGEORGE D SMITH FUND INC Telephone no. (773) 341-1410

Located at1525 E 53RD STREET SUITE 502CHICAGOIL ZIP+460615

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........

and enter the amount of tax-exempt interest received or accrued during the year ........

16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country

Form 990-PF (2025)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

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

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

1a(2)

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

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2025? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

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

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine

if the foundation had excess business holdings in 2025.).....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..

Form 990-PF (2025)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

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

5a(3)

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

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

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

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

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
BENJAMIN A SMITH-DONALD	PRESIDENT 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	PRESIDENT 1.00	0	0	0
GEORGE D SMITH III	VICE PRESIDENT 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	VICE PRESIDENT 1.00	0	0	0
ANDREW J SMITH	VICE PRESIDENT 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	VICE PRESIDENT 1.00	0	0	0
GEOFFREY B SMITH	TREASURER 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	TREASURER 1.00	0	0	0
SARAH A SMITH	SECRETARY 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	SECRETARY 1.00	0	0	0
CAMILLA M SMITH	DIRECTOR 1.00	0	0	0
1525 E 53RD STREET SUITE 502 CHICAGO,IL60615	DIRECTOR 1.00	0	0	0

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)

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 arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3.........................0

Form 990-PF (2025)

Page 8

Part IX

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

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

purposes:

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

90,381,732

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

1,825,294

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

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

92,207,026

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

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

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

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

92,207,026

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

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

1,383,105

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

90,823,921

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

4,541,196

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)

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

4,541,196

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

33,348

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

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

33,348

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

4,507,848

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

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

4,507,848

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

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

4,507,848

Part XI

Qualifying Distributions (see instructions)

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

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

4,353,281

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

4,353,281

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					4,507,848
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......	674,651
b From 2021......
c From 2022......	287,210
d From 2023......
e From 2024......
f Total of lines 3a through e ........		961,861
4Qualifying distributions for 2025 from Part
XI, line 4: $ 4,353,281
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.....					4,353,281
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2025.		154,567			154,567
(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		807,294
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) ...		520,084
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		287,210
10 Analysis of line 9:
a Excess from 2021 ....
b Excess from 2022 ....	287,210
c Excess from 2023 ....
d Excess from 2024 ....
e Excess from 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 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2025	(b) 2024	(c) 2023	(d) 2022	(e) Total

b 85% (0.85) of line 2a .......
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, 3b, or 3c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2025)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AMERICAN PUBLIC MEDIA 480 CEDAR STREET ST PAUL,MN55101	N/A		ORGANIZATION'S CHARITABLE PURPOSES	150,000
DOCTORS WITHOUT BORDERS PO BOX 5023 HAGERSTOWN,MD21741	N/A		ORGANIZATION'S CHARITABLE PURPOSES	450,000
FIDELITY INVESTMENTS CHARITABLE GIFT FUND 245 SUMMER STREET BOSTON,MA02210	N/A		ORGANIZATION'S CHARITABLE PURPOSES	50,000
GBH EDUCATIONAL FOUNDATION ONE GUEST STREET BOSTON,MA02135	N/A		ORGANIZATION'S CHARITABLE PURPOSES	275,000
NATIONAL PUBLIC RADIO FOUNDATION 1111 NORTH CAPITOL STREET NE WASHINGTON,DC20002	N/A		ORGANIZATION'S CHARITABLE PURPOSES	100,000
NATIONAL PUBLIC RADIO INC 1111 NORTH CAPITOL STREET NE WASHINGTON,DC20002	N/A		ORGANIZATION'S CHARITABLE PURPOSES	400,000
PBS FOUNDATION 1225 SOUTH CLARK STREET ARLINGTON,VA22202	N/A		ORGANIZATION'S CHARITABLE PURPOSES	250,000
PLANNED PARENTHOOD FEDERATION OF AMERICA INC 123 WILLIAM STREET 10TH FLOOR NEW YORK,NY10038	N/A		ORGANIZATION'S CHARITABLE PURPOSES	700,000
PROPUBLICA 155 AVENUE OF THE AMERICAS 13TH FL NEW YORK,NY10013	N/A		ORGANIZATION'S CHARITABLE PURPOSES	300,000
STANFORD UNIVERSITY 326 GALVEZ STREET STANFORD,CA94305	N/A		ORGANIZATION'S CHARITABLE PURPOSES	600,000
THE CARTER CENTER ONE COPENHILL 453 FREEDOM PARKWAY ATLANTA,GA30307	N/A		ORGANIZATION'S CHARITABLE PURPOSES	75,000
UNIVERSITY OF CALIFORNIA SAN FRANCISCO FOUNDATION 555 MISSION BAY BLVD SO RM 452P SAN FRANCISCO,CA94158	N/A		ORGANIZATION'S CHARITABLE PURPOSES	550,000
WIKIMEDIA FOUNDATION INC PO BOX 98204 WASHINGTON,DC20090	N/A		ORGANIZATION'S CHARITABLE PURPOSES	450,000
Total ................................. 3a				4,350,000

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2025)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	42,667
4 Dividends and interest from securities ....			14	2,072,247
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	489,136
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		2,604,050	0

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

2,604,050

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2025)

Page 13

Part XVI

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2025)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2025 AccountingFeesSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	5,000	2,500		2,500

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC SR NTS 3.2% 11/21/2029	611,500	562,470
ALBERTSONS COS/SAFEWAY 4.875% 2/15/2030	515,419	515,710
ALIMENTATION COUCHE-TARD 3.55% 7/26/2027	908,977	938,356
AMERN EXPRESS CO SR NTS VAR RT 4/25/2031	515,974	519,395
AMERN TOWER CORP SR NTS 2.1% 6/15/2030	447,350	403,855
AMERN TOWER CORP SR NTS 3.8% 8/15/2029	576,205	493,284
AVALONBAY COMMUNITIES SR NTS MTN 2.95% 5/11/2026	513,172	518,109
BALL CORP 2.875% 8/15/2030	350,000	323,612
BK OF AMER CORP SR NTS MTN VAR RT 2/4/2033	419,290	456,338
BK OF AMER CORP SR NTS VAR RT 12/20/2028	402,431	375,220
BOOZ ALLEN HAMILTON INC 5.95% 8/4/2033	566,466	593,787
BROWN & BROWN INC SR NTS 2.375% 3/15/2031	623,632	633,008
CCO HLDGS LLC/CAP CORP SR NTS 4.75% 2/1/2032	394,763	452,401
CELANESE US HOLDINGS LLC 1.4% 8/5/2026	510,866	526,453
CHENIERE ENERGY PARTNERS 3.25% 1/31/2032	552,600	635,514
CITIGROUP INC SR NTS VAR RT 2/13/2030	504,645	513,076
CONSTELLATION BRANDS INC 3.15% 8/1/2029	292,923	274,496
CVS HEALTH CORP SR NTS 2.875% 6/1/2026	408,733	412,898
DOC DR LLC 2.625% 11/1/2031	491,579	494,487
DUKE ENERGY CORP SR NTS 2.45% 6/1/2030	282,929	259,590
DUKE ENERGY CORP SR NTS 4.5% 8/15/2032	416,601	438,547
FDLTY NATL INFO SERV SR NTS 2.25% 3/1/2031	756,846	678,039
FISERV INC SR NTS 3.5% 7/1/2029	794,688	678,827
GARTNER INC 3.75% 10/1/2030	319,532	350,872
GEN MLS INC SR NTS 5.5% 10/17/2028	383,809	388,923
GOLDMAN SACHS GROUP INC SR NTS 3.8% 3/15/2030	554,225	570,839
GRAPHIC PACKAGING INTERN 3.5% 3/1/2029	313,575	324,339
HCA INC 5.875% 2/1/2029	302,884	311,587
HOLOGIC INC 3.25% 2/15/2029	557,937	556,848
HOLOGIC INC 4.625% 2/1/2028	285,525	269,988
HUMANA INC SR NTS 3.95% 3/15/2027	863,887	820,613
IQVIA INC 5% 5/15/2027	265,312	249,932
KFC HLD/PIZZA HUT/TACO 4.75% 6/1/2027	853,862	828,765
L3HARRIS TECH INC SR NTS 4.4% 6/15/2028	502,534	423,224
LOCKHEED MARTIN CORP SR NTS 3.55% 1/15/2026	348,337	352,962
MATCH GROUP HLD II LLC SR NTS 4.625% 6/1/2028	525,625	495,527
META PLATFORMS INC SR NTS 3.85% 8/15/2032	560,521	630,539
MORGAN STANLEY MTN 4.35% 9/8/2026	761,200	671,144
MURPHY OIL USA INC 4.75% 9/15/2029	547,860	571,597
NEWS CORP 5.125% 2/15/2032	590,040	650,554
PHILLIPS 66 1.3% 2/15/2026	84,728	86,670
PRIME SEC SRVC BRW/FINANC SR NTS 5.75% 4/15/2026	27,885	26,009
RTX COPR SR NTS 2.25% 7/1/2030	459,411	423,523
S&P GLOBAL INC 2.95% 1/22/2027	324,572	346,745
SEAGATE HDD CAYMAN 3.375% 7/15/2031	675,954	732,886
SEALED AIR CORP 4% 12/1/2027	654,565	651,605
SIRIUS XM RADIO LLC 4.125% 7/1/2030	469,954	511,674
STARBUCKS CORP SR NTS 4.8% 2/15/2033	617,159	622,678
SVC CORP INTL SR NTS 4.625% 12/15/2027	746,915	749,031
UN PAC CORP SR NTS 2.75% 3/1/2026	578,820	618,663
VMWARE LLC SR NTS 2.2% 8/15/2031	738,122	813,916
WELLS FARGO & CO SR NTS VAR RT 1/24/2031	477,605	486,694
XYLEM INC SR NTS 3.25% 11/1/2026	834,090	875,060
ZOETIS INC SR NTS 3.9% 8/20/2028	623,392	574,647

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3I GROUP PLC UNSPON ADR (32,086 SHS)	313,881	349,417
ADYEN NV UNSPON ADR (18,676 SHS)	217,719	298,256
AON PLC CLASS A (552 SHS)	107,008	194,790
ARCH CAPITAL GROUP LTD (3,619 SHS)	252,083	347,135
ASM INTERNATIONAL (394 SHS)	143,803	237,751
ASML HOLDING NV (499 SHS)	148,496	533,860
ASTRAZENECA PLC SPONS ADR (3,612 SHS)	235,315	332,051
BAE SYSTEMS PLC SPON ADR (6,071 SHS)	360,961	563,874
CANADIAN NATURAL RESOURCES (6,365 SHS)	210,497	215,455
CANADIAN PACIFIC KANSAS CITY (4,424 SHS)	153,219	325,739
COUPANG INC (12,757 SHS)	282,882	300,938
DEUTSCHE BOERSE AG UNSPN ADR (8,305 SHS)	263,496	218,338
EXPERIAN PLC SPONS ADR (4,474 SHS)	92,661	202,091
FERGUSON ENTERPRISES INC (1,198 SHS)	305,693	266,711
FERRARI NV (551 SHS)	73,624	203,628
ICICI BANK LTD SPON ADR (9,136 SHS)	202,177	272,253
ISHARES MSCI EAFE ETF (13,809 SHS)	801,460	1,326,078
LINDE PLC (666 SHS)	220,942	283,976
MERCADOLIBRE INC (120 SHS)	152,581	241,711
MITSUBISHI HEAVY INDUSTRIES (21,382 SHS)	253,767	518,086
MONDAY.COM LTD (1,008 SHS)	226,676	148,740
NINTENDO CO LTD USPONS ADR (17,871 SHS)	353,544	301,305
NOVO-NORDISK A/S SPONS ADR (3,678 SHS)	194,133	187,137
NU HOLDINGS LTD/CAYMAN ISL-A (19,075 SHS)	212,913	319,315
PHILIP MORRIS INTERNATIONAL (3,147 SHS)	552,102	504,779
RHEINMETALL AG UNSP ADR (558 SHS)	214,646	203,949
ROLLS-ROYCE HOLDINGS SP ADR (49,649 SHS)	365,716	780,482
SAFRAN SA UNSPON ADR (5,750 SHS)	252,511	500,537
SAP SE SPONSORED ADR (1,851 SHS)	462,911	449,626
SEA LTD ADR (4,250 SHS)	307,400	542,173
SEAGATE TECHNOLOGY HOLDINGS (1,402 SHS)	313,747	386,097
SHOPIFY INC CLASS A (1,780 SHS)	308,560	286,527
SIEMENS ENERGY AG UNSP ADR (7,153 SHS)	332,153	1,002,493
SPDR S&P 500 EFT TRUST (71,080 SHS)	8,947,550	48,470,874
SPOTIFY TECHNOLOGY SA (634 SHS)	174,112	368,170
TAIWAN SEMICONDUCTOR SP ADR (3,080 SHS)	438,224	935,981
TENCENT HOLDINGS LTD UNS ADR (4,906 SHS)	335,293	375,554
UBS GROUP AG REG (7,840 SHS)	241,757	363,070
UNITED PARCEL SERVICE CL B (40,072 SHS)	10,001	3,974,742
WASTE CONNECTIONS INC (1,106 SHS)	155,505	193,948

- TIN:

TY 2025 OtherAssetsSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
PURCHASED INTEREST	0	6,065	6,065

- TIN:

TY 2025 OtherExpensesSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BANK CUSTODY FEES	185,178	185,178		0
OFFICE EXPENSES	781	0		781

- TIN:

TY 2025 TaxesSchedule

Name:

GEORGE D SMITH FUND INC

EIN:

13-6138728

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL EXCISE TAX	36,547	0		0
FOREIGN TAXES	17,229	17,229		0