| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Identifier | Return Reference | Explanation |
|---|---|---|
| Form 990-PF, Part XII, Line 7 | Form 990-PF, Part XII, Line 7 | Election to Treat Unused Prior Year Corpus Distributions as Current Year Corpus Distributions Pursuant to Treasury Regulations Section 53.4942(a)-3(c)(2)(iv), The McLean Family Foundation hereby elects to treat, as a current distribution out of corpus, the following unused prior year's distributions that were treated as corpus distributions under Treasury Regulations Section 53.4942(a)-3(d)(1)(iii) in such prior tax years: Tax Year: 2021 Amount: $32,492 Tax Year: 2022 Amount: $39,307 Tax Year: 2023 Amount: $3,201 By: DAVID L MCLEAN Title: VICE PRESIDENT Amount Treated as Distributions out of Corpus to Satisfy Section 170(b)(1)(F)(ii) The McLean Family Foundation (the "Foundation") hereby elects to satisfy the requirements of Internal Revenue Code ("Code") Section 170(b)(1)(F)(ii) in respect of contributions of $75,000 received in the taxable year ending December 31, 2025 (the "Conduit Election Year"). To satisfy the requirements of Code Section 170(b)(1)(F)(ii), a private non-operating foundation must: (A) by the end of the Conduit Election Year, distribute any undistributed income from the year immediately preceding the Conduit Election Year; (B) distribute, in the absence of an election under Code Section 4942(h)(2), any undistributed income from the Conduit Election Year by the end of the Conduit Election Year; and (C) make qualifying distributions treated as distributions out of corpus by no later than the 15th day of the third month of the taxable year following the Conduit Election Year in an amount equal to 100 percent of the contributions received by such foundation in the Conduit Election Year. A. Satisfaction of Minimum Distribution Requirement for the Conduit Election Year. As reported on Part XII, Line 2, column (c), the undistributed income for the year immediately preceding the Conduit Election Year is $0. In other words, the Foundation had no undistributed income for 2024. B. Timely Satisfaction of Minimum Distribution Requirement for the Taxable Year following the Conduit Election Year. As reported on Part XII, Line 6f, column (d), the undistributed income for the Conduit Election Year is $0. In other words, the Foundation had no undistributed income for 2025. C. Sufficient Timely Qualified Distributions Made Out of Corpus. To satisfy the requirements of Internal Revenue Code Section 170(b)(1)(F)(ii), the Foundation had until March 15, 2026, the 15th day of the third month of the taxable year following the Conduit Election Year, to make distributions out of corpus in an amount equal to 100 percent of the contributions received by it in the Conduit Election Year, $75,000. As reported on Part XII, Line 7, the Foundation is treating $75,000 as a current distribution out of corpus in full satisfaction of the requirements of Code Section 170(b)(1)(F)(ii) in respect of the Conduit Election Year. The Foundation has attached the necessary election, pursuant to Treasury Regulations Section 53.4942(a)-3(c)(2)(iv), to treat $75,000, of its unused prior years' corpus distributions, as a current distribution out of corpus. |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| T. ROWE PRICE SHORT TERM BOND | 54,108 | 54,284 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 5,000 | 5,000 | ||
| Bank Charges | 390 | 390 | ||
| State or Local Filing Fees | 25 | 25 |