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
CECYLE W PAGEL TRUST
 
Number and street (or P.O. box number if mail is not delivered to street address) P O BOX 11647
  Room/suite
City or town
BIRMINGHAM
State or province
AL
Country  
ZIP or foreign postal code
35202
A Employer identification number

74-6186925
B Telephone number (see instructions)

2058203141
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)$3,057,864J 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... 84,524 84,486  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 67,267
b Gross sales price for all assets on line 6a 327,249
7 Capital gain net income (from Part IV, line 2)... 67,267
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........ 151,791 151,753  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 31,065 24,852   6,213
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)....... Click to see attachment
List of Attached Documents:
// Content
1,000 0 0 1,000
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
2 2   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
4,326 1,124   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).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 36,393 25,978 0 7,213
25 Contributions, gifts, grants paid....... 159,960 159,960
26 Total expenses and disbursements. Add lines 24 and 25 ................ 196,353 25,978 0 167,173
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -44,562
b Net investment income (if negative, enter -0-) 125,775
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......... 61,864 34,448 34,448
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).......... 2,270,600 Click to see attachment
List of Attached Documents:
// Content
2,251,620 		3,023,416
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) 2,332,464 2,286,068 3,057,864
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........ 2,332,464 2,286,068
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)..... 2,332,464 2,286,068
30 Total liabilities and net assets/fund balances (see instructions). 2,332,464 2,286,068
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
2,332,464
2
Enter amount from Part I, line 27a .....................
2
-44,562
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
2,287,902
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
1,834
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
2,286,068
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 4. GENERAL DYNAMICS CORP   2020-03-17 2025-01-17
b 9. HERSHEY CO   2024-01-24 2025-01-17
c 11. HERSHEY CO   2020-05-22 2025-01-17
d 1. LILLY ELI & CO   2016-02-24 2025-01-17
e 5. MERCK & CO INC   2024-09-12 2025-01-17
12. CHUBB LIMITED COM   2020-03-17 2025-01-17
4360.749 BAIRD FDS INC   2022-11-14 2025-03-06
32.596 VANGUARD MALVERN FDS   2024-10-30 2025-03-06
688.924 VANGUARD MALVERN FDS   2022-05-31 2025-03-06
100. AT&T INC   2022-05-31 2025-04-30
4. GALLAGHER ARTHUR J & CO   2020-05-22 2025-04-30
2. LOCKHEED MARTIN CORP COM   2024-09-12 2025-04-30
6. T -MOBILE US INC   2023-12-04 2025-04-30
1. UNITEDHEALTH GROUP INC   2020-04-03 2025-04-30
1207. SCHWAB STRATEGIC TR   2023-08-08 2025-06-16
225.499 VANGUARD WORLD FD   2023-08-08 2025-06-16
432. VANGUARD FTSE DEVELOPED ETF   2024-10-08 2025-06-16
357.199 JPMORGAN TR I   2024-10-30 2025-06-25
3698.045 JPMORGAN TR I   2023-11-20 2025-06-25
34. FIDELITY NATL INFORMATION SVCS INC   2024-01-24 2025-08-13
1. JPMORGAN CHASE & CO   2020-05-22 2025-08-13
4. LOCKHEED MARTIN CORP COM   2024-09-12 2025-08-13
6. QUALCOMM INC   2016-02-24 2025-08-13
4. UNITEDHEALTH GROUP INC   2020-04-03 2025-08-13
122.976 ARTISAN PARTNERS FDS INC   2022-11-14 2025-10-07
45. ISHARES TR   2020-06-30 2025-10-07
41. ISHARES CORE S&P MIDCAP ETF   2023-11-20 2025-10-07
58. ISHARES CORE S&P SMALL-CAP E   2023-11-20 2025-10-07
469.921 LOOMIS SAYLES FDS II   2022-07-05 2025-10-07
130. SCHWAB STRATEGIC TR   2022-11-14 2025-10-07
25. VANGUARD FTSE DEVELOPED ETF   2024-10-08 2025-10-07
69.429 VANGUARD WORLD FD   2023-08-08 2025-10-08
9. CROWN CASTLE INTL CORP NEW   2021-12-08 2025-12-15
95. FIFTH THIRD BANCORP   2024-12-03 2025-12-15
4. HOME DEPOT INC   2017-11-15 2025-12-15
20. UNION PAC CORP   2023-12-05 2025-12-15
7. WALMART STORES INC COM   2016-02-24 2025-12-15
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    
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 1,070   507 563
b 1,376   1,718 -342
c 1,681   1,425 256
d 740   73 667
e 494   575 -81
3,284   1,197 2,087
42,823   41,378 1,445
771   774 -3
16,293   17,923 -1,630
2,752   2,124 628
1,270   362 908
950   1,135 -185
1,467   916 551
410   230 180
48,014   37,746 10,268
26,002   23,262 2,740
24,458   22,360 2,098
4,108   4,086 22
42,528   42,487 41
2,454   2,373 81
288   89 199
1,749   2,271 -522
938   295 643
1,083   918 165
3,217   1,643 1,574
30,236   13,931 16,305
2,666   1,150 1,516
6,853   5,596 1,257
16,099   9,013 7,086
5,645   3,804 1,841
1,515   1,294 221
8,756   7,162 1,594
793   1,652 -859
4,545   3,540 1,005
1,423   666 757
4,770   4,152 618
814   155 659
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
      12,914
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       563
b       -342
c       256
d       667
e       -81
      2,087
      1,445
      -3
      -1,630
      628
      908
      -185
      551
      180
      10,268
      2,740
      2,098
      22
      41
      81
      199
      -522
      643
      165
      1,574
      16,305
      1,516
      1,257
      7,086
      1,841
      221
      1,594
      -859
      1,005
      757
      618
      659
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 67,267
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 1,748
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 1,748
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 1,748
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 2,384
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 2,384
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 636
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax636 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)
TX
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 ofREGIONS BANK Telephone no. (205) 820-3141

Located at250 RIVERCHASE PARKWAY EASTBIRMINGHAMAL ZIP+435244
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
REGIONS BANK TRUSTEE
1 		31,065    
2050 PARKWAY OFFICE CIRCLE
HOOVER,AL35244
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
2,950,635
b
Average of monthly cash balances.......................
1b
52,352
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
3,002,987
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
3,002,987
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
45,045
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
2,957,942
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
147,897
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
147,897
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
1,748
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,748
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
146,149
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
146,149
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
146,149
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
167,173
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
167,173
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 7 146,149
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 67,101
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 0
b From 2021...... 0
c From 2022...... 0
d From 2023...... 0
e From 2024...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 167,173
a Applied to 2024, but not more than line 2a 67,101
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..... 100,072
e Remaining amount distributed out of corpus 0
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 0
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 .......... 		46,077
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BAY AREA BOY SCOUTS OF AMERICA

3020 53RD ST
GALVESTON,TX77551 		NONE   GENERAL OPERATING 53,320

FIRST PRESBYTERIAN CHURCH-ALVIN

302 SOUTH JOHNSON
ALVIN,TX77511 		NONE   GENERAL OPERATING 53,320

PRESBYTERIAN CHILDREN'S HOME

5920 WEST WILLIAM CANNON DRIVE
AUSTIN,TX78749 		NONE   GENERAL OPERATING 53,320
Total ................................. 3a 159,960
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 84,524  
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 67,267  
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) ..   151,791  
13Total. Add line 12, columns (b), (d), and (e)..................
13
151,791
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
CECYLE W PAGEL TRUST
EIN:
74-6186925
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 1,000     1,000

TY 2025 InvestmentsOtherSchedule2
Name:
CECYLE W PAGEL TRUST
EIN:
74-6186925
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
412295107 HARDING LOEVNER FDS      
438516106 HONEYWELL INTL INC      
872540109 TJX COS INC NEW AT COST 2,739 6,144
17275R102 CISCO SYS INC      
126650100 CVS HEALTH CORP      
589509207 MERGER FD      
G3223R108 EVEREST RE GROUP LTD      
30161N101 EXELON CORP AT COST 2,830 4,141
532457108 LILLY ELI & CO AT COST 146 2,149
464287507 ISHARES TR AT COST 122,610 256,080
871829107 SYSCO CORP AT COST 2,089 3,021
009158106 AIR PRODS & CHEMS IN      
25746U109 DOMINION ENERGY INC      
882508104 TEXAS INSTRS INC AT COST 1,129 1,735
060505104 BANK AMER CORP AT COST 4,541 4,510
166764100 CHEVRON CORP NEW AT COST 2,565 4,267
46637K265 JPMORGAN TR I AT COST 82,695 111,603
91324P102 UNITEDHEALTH GROUP I      
478160104 JOHNSON & JOHNSON AT COST 5,687 7,657
65339F101 NEXTERA ENERGY INC AT COST 2,415 4,175
018802108 ALLIANT ENERGY CORP AT COST 1,319 2,015
713448108 PEPSICO INC      
N53745100 LYONDELLBASELL INDU-      
92343V104 VERIZON COMMUNICATIO AT COST 4,560 3,462
31635T807 FIDELITY SALEM STR T AT COST 291,189 303,294
464287101 ISHARES TR      
58933Y105 MERCK & CO INC NEW AT COST 3,760 5,158
258620509 DOUBLELINE FDS TR      
931142103 WAL MART STORES INC AT COST 1,218 6,128
695156109 PACKAGING CORP AMER AT COST 2,075 2,887
907818108 UNION PAC CORP      
110122108 BRISTOL MYERS SQUIBB      
770323103 ROBERT HALF INTL INC      
30231G102 EXXON MOBIL CORP AT COST 4,029 7,461
94106L109 WASTE MGMT INC DEL AT COST 1,961 4,394
057071854 BAIRD FDS INC AT COST 248,305 259,612
22822V101 CROWN CASTLE INTL CO AT COST 3,329 2,044
59156R108 METLIFE INC AT COST 721 2,210
74440Y884 PGIM HIGH YIELD FUND      
191216100 COCA-COLA CO/THE      
464287200 ISHARES TR AT COST 174,601 386,306
H84989104 TE CONNECTIVITY LTD      
20030N101 COMCAST CORP NEW AT COST 3,727 2,959
362014193 GMO TR AT COST 49,128 46,680
128119880 CALAMOS INVT TR NEW      
427866108 HERSHEY CO      
902973304 US BANCORP DEL      
46653M849 JOHCM FDS TR      
372460105 GENUINE PARTS CO      
742718109 PROCTER & GAMBLE CO      
87165B103 SYNCHRONY FINL      
464287804 ISHARES TR AT COST 52,249 171,377
369550108 GENERAL DYNAMICS COR AT COST 1,014 2,693
747525103 QUALCOMM INC      
20825C104 CONOCOPHILLIPS AT COST 1,494 2,340
09247X101 BLACKROCK INC      
46625H100 JPMORGAN CHASE & CO AT COST 2,741 9,989
443510607 HUBBELL INC AT COST 546 2,221
921937603 VANGUARD BD INDEX FD      
04314H592 ARTISAN PARTNERS FDS AT COST 27,234 47,701
594918104 MICROSOFT CORP AT COST 4,451 9,672
H1467J104 CHUBB LTD      
06828M876 BARON SELECT FDS      
437076102 HOME DEPOT INC AT COST 660 1,376
024525669 AMERICAN BEACON FDS AT COST 63,943 54,738
363576109 GALLAGHER ARTHUR J & AT COST 766 3,364
543488845 LOOMIS SAYLES FDS II AT COST 106,993 186,149
89832Q109 TRUIST FINL CORP      
09258N570 BLACKROCK FDS AT COST 55,475 61,719
258620566 DOUBLELINE FDS TR      
922020813 VANGUARD MALVERN FDS AT COST 23,960 26,825
31620M106 FIDELITY NATL INFORM      
609207105 MONDELEZ INTL INC AT COST 3,229 2,584
808524755 SCHWAB STRATEGIC TR AT COST 90,840 140,106
25159K705 DEUTSCHE DWS MKT TR      
863667101 STRYKER CORP AT COST 3,372 4,569
580135101 MC DONALDS CORPORATI AT COST 3,286 3,973
00206R102 AT&T INC AT COST 2,247 3,030
4812C0134 JPMORGAN TR II AT COST 125,698 129,730
12572Q105 CME GROUP INC      
237194105 DARDEN RESTAURANTS I AT COST 3,211 3,680
48121L114 JPMORGAN TR I      
651639106 NEWMONT CORP      
693475105 PNC FINL SVCS GROUP AT COST 3,083 4,175
855244109 STARBUCKS CORP      
872590104 T -MOBILE US INC AT COST 2,893 3,452
90470L360 ABSOLUTE CONVERT ARB AT COST 44,385 46,632
921910501 VANGUARD WORLD FD AT COST 109,520 121,017
98389B100 XCEL ENERGY INC AT COST 3,686 4,210
00287Y109 ABBVIE INC AT COST 4,184 5,712
00770X675 PZENA EMERG MKTS VAL AT COST 28,277 35,730
00771X419 GQG PART EMERG MKTS AT COST 76,684 79,963
020002101 ALLSTATE CORP AT COST 3,464 3,539
04314H568 ARTISAN PARTNERS FDS AT COST 42,039 43,039
09290D101 BLACKROCK INC AT COST 1,199 4,281
316773100 FIFTH THIRD BANCORP      
49271V100 KEURIG DR PEPPER INC AT COST 2,934 2,437
52472T718 BRNDYWNGLBL HIGH YLD AT COST 41,912 41,962
539830109 LOCKHEED MARTIN CORP      
579780206 MC CORMICK & CO INC AT COST 3,474 2,861
595017104 MICROCHIP TECHNOLOGY AT COST 3,977 3,505
921943858 VANGUARD TAX-MANAGED AT COST 57,504 69,404
G87052109 TE CONNECTIVITY PLC AT COST 1,173 3,413
11135F101 BROADCOM INC AT COST 1,522 2,769
126408103 CSX CORP AT COST 3,634 3,553
128120342 CALAMOS MRKT NEU INC AT COST 111,240 122,043
254687106 DISNEY WALT CO AT COST 3,323 3,413
256677105 DOLLAR GEN CORP NEW AT COST 3,220 3,718
418056107 HASBRO INC AT COST 2,641 2,706
693390882 PIMCO FDS PAC INVT M AT COST 59,863 60,595
92648C819 VICTORY PIONEER CAT AT COST 35,890 35,471
G1151C101 ACCENTURE PLC-CL A AT COST 4,858 3,756
G54950103 LINDE PLC AT COST 2,264 2,132

TY 2025 OtherDecreasesSchedule
Name:
CECYLE W PAGEL TRUST
EIN:
74-6186925
Description Amount
MUTUAL FUND TIMING ADJ 1,470
ROC ON CY SALES 8
COST BASIS ADJUSTMENT 356


TY 2025 OtherProfessionalFeesSchedule
Name:
CECYLE W PAGEL TRUST
EIN:
74-6186925
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED 2 2    


TY 2025 TaxesSchedule
Name:
CECYLE W PAGEL TRUST
EIN:
74-6186925
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 799 799   0
FEDERAL TAX PAYMENT - PRIOR YE 818 0   0
FEDERAL ESTIMATES - PRINCIPAL 2,384 0   0
FOREIGN TAXES ON NONQUALIFIED 325 325   0