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
Avis Foundation Inc
 
Number and street (or P.O. box number if mail is not delivered to street address) 1909 S Main St
  Room/suite
City or town
Upland
State or province
IN
Country  
ZIP or foreign postal code
46989
A Employer identification number

20-5063209
B Telephone number (see instructions)

7659988100
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)$67,802,179J 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) 18,343
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,204,760 2,204,760  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,935,758
b Gross sales price for all assets on line 6a 8,999,213
7 Capital gain net income (from Part IV, line 2)... 1,935,758
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
56,334 56,334  
12 Total. Add lines 1 through 11........ 4,215,195 4,196,852  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 93,138 0   93,138
14 Other employee salaries and wages...... 9,984 0   9,984
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
18,743 0   18,743
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
253,919 251,806   2,113
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
23,751 7,468   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 720 0   720
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
38,374 30,418   7,956
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 438,629 289,692   132,654
25 Contributions, gifts, grants paid....... 3,002,529 3,002,529
26 Total expenses and disbursements. Add lines 24 and 25 ................ 3,441,158 289,692   3,135,183
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 774,037
b Net investment income (if negative, enter -0-) 3,907,160
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,614,415 552,346 552,346
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)....... 21,185,694 Click to see attachment
List of Attached Documents:
// Content
19,136,547 		32,857,287
c Investments—corporate bonds (attach schedule)....... 16,319,492 Click to see attachment
List of Attached Documents:
// Content
20,634,357 		21,628,881
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 12,686,218 Click to see attachment
List of Attached Documents:
// Content
12,255,949 		12,749,315
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
14,350 		Click to see attachment
List of Attached Documents:
// Content
14,350 		Click to see attachment
List of Attached Documents:
// Content
14,350
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 51,820,169 52,593,549 67,802,179
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 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........ 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 51,820,169 52,593,549
29 Total net assets or fund balances (see instructions)..... 51,820,169 52,593,549
30 Total liabilities and net assets/fund balances (see instructions). 51,820,169 52,593,549
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
51,820,169
2
Enter amount from Part I, line 27a .....................
2
774,037
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
52,594,206
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
657
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
52,593,549
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 Publicily traded Securities P    
b Capital Gains Dividends P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 8,779,216   7,063,455 1,715,761
b 219,997     219,997
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       1,715,761
b       219,997
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,935,758
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 54,310
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 54,310
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 54,310
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 26,560
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 26,560
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 1,355
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 29,105
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
IN
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 addressavisfoundationinc.org
14
The books are in care ofLoralee Songer Telephone no. (765) 998-8100

Located at1909 S Main StUplandIN ZIP+446989
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
Angela Darlington President
1.00 		3,000 0 0
1909 S Main Street
Upland,IN46989
Marylou Habecker Vice President
1.00 		3,000 0 0
1909 S Main Street
Upland,IN46989
Norma Korporal Secretary
1.00 		1,500 0 0
1909 S Main Street
Upland,IN46989
Dr Susan Wilczynski Director
1.00 		3,000 0 0
1909 S Main Street
Upland,IN46989
Loralee Songer Executive Director
30.00 		77,770 0 4,868
1909 S Main Street
Upland,IN46989
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
UBS Financial Services Investment Management 251,806
81415 Maddox Dr Suite 101
Lincoln,NE68520
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.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
64,143,895
b
Average of monthly cash balances.......................
1b
1,178,024
c
Fair market value of all other assets (see instructions)................
1c
313,773
d
Total (add lines 1a, 1b, and 1c).......................
1d
65,635,692
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
65,635,692
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
984,535
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
64,651,157
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
3,232,558
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
3,232,558
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
54,310
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
54,310
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,178,248
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
3,178,248
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
3,178,248
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
3,135,183
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,135,183
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 3,178,248
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 32,593
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 3,135,183
a Applied to 2024, but not more than line 2a 32,593
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..... 3,102,590
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 .......... 		75,658
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 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
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 e-mail address of the person to whom applications should be addressed:
Loralee Songer
1909 S Main Street
Upland,IN46989
(765) 998-8100
bThe form in which applications should be submitted and information and materials they should include:
All grant applicants are requested to submit a letter of inquiry (LOI) prior to March 1 in any calendar year. If the LOI is approved a full grant proposal must be submitted by July 31 of that same calendar year. Applicants will be notified in October and successful applicants will receive funds in December.
cAny submission deadlines:
See above.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
The mission of Avis Foundation, Inc. is to make impactful gifts to organizations devoted to improving quality of life in communities through their commitment to the arts, education, entrepreneurship and autism.
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

Ball State University

2000 W University Avenue
Muncie,IN47306 		None   Camp Achieve (Summer Social Skills Autism Day Camp) 250,000

Carey Services

2724 S Carey Street
Marion,IN46953 		None   Autism Training Initiative 30,000

DePauw University

PO Box 37
Greencastle,IN46135 		None   Comprehensive Support for Autistic Students 50,000

Friends of Upland Public Library

PO Box 488
Upland,IN46989 		None   New Chapter for Upland Public Library 50,000

Harrison Center for the Arts

1505 N Delaware Street
Indianapolis,IN46202 		None   Polklore Museum Launch 75,000

Indianapolis Public Library Foundation

2450 N Meridian Street
Indianapolis,IN46206 		None   Children's Literacy Program and Autism Certification 100,000

Indiana Repertory Theatre

140 W Washington Street
Indianapolis,IN46204 		None   Come From Away Musical Production 100,000

Indiana University Foundation

509 E 3rd Street
Bloomington,IN47401 		None   Jacobs Virtual Academy 88,530

JobSource Inc

PO Box 149
Anderson,IN46015 		None   Heartland Scholar House 100,000

LeTourneau University

2100 S Mobberly Avenue
Longview,TX75602 		None   Bridges Program 40,000

Loyola University Chicago School of Education

111 E Pearson
Chicago,IL60611 		None   Online Undergraduate Program in Applied Behavior Studies 83,333

Minnetrista Museum and Gardens

1200 N Minnetrista Parkway
Muncie,IN47303 		None   Development and Installation of Wonderscape 75,000

Muncie Civic Theatre

216 E Main Street
Muncie,IN47305 		None   Boyce Block Remodel 150,000

NearSpace Education

79 Railroad Street
Upland,IN46989 		None   Pipelines of Impact 250,000

Purdue University Fort Wayne

2101 E Coliseum Blvd
Fort Wayne,IN46805 		None   Entrepreneurship and Enterprise Engineering Nexus 174,000

Taylor University

1846 W Main Street
Upland,IN46989 		None   Online Master of Education in Special Education 50,000

Taylor University

1846 W Main Street
Upland,IN46989 		None   Mitchell Theatre Infrastructure Enhancements 425,000

Youth Global Perspectives

3161 N Kenwood Avenue
Indianapolis,IN46208 		None   College and Career Readiness 45,000

Eiteljorg Museum

500 W Washington Street
Indianapolis,IN46204 		None   Quest for the West Event and Four Art Exhibitions 200,000

Ouachita Baptist University

410 Ouachita Street
Arkadelphia,AR71998 		None   Graduate Program in Counseling 250,000

Conner Prairie

13805 Allisonville Road
Fishers,IN46038 		None   Sensory Room and Inclusive Signage in the Museum Experience Center 166,666

Huntington University

2303 College Avenue
Huntington,IN46750 		None   Veterinary Medicine, Leadership Coaching, Occupational Therapy Assistant Training 250,000
Total ................................. 3a 3,002,529
bApproved for future payment
Total ................................. 3b 0
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 2,204,760  
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 .....     14 56,334  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,935,758  
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 4,196,852 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
4,196,852
(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
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
Avis Foundation Inc
 
Employer identification number

20-5063209
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 2025) Page 2
Name of organization
Avis Foundation Inc
  		Employer identification number
20-5063209
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Leland E Boren Trust
 
2751 Centerville Road Suite 400
 
Wilmington, DE19808

$ 18,343


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
Avis Foundation Inc
  		Employer identification number

20-5063209
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
Avis Foundation Inc
  		Employer identification number

20-5063209
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2025 AccountingFeesSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 18,743 0   18,743

TY 2025 InvestmentsCorpBondsSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Name of Bond End of Year Book Value End of Year Fair Market Value
FEDERATED HERMES ULTRASHORT BOND FUND IS 132,067 135,814
AIR LEASE CORP 02.875% 011526 DTD081720 FC011521 CALL@MW+45BP 188,000 202,543
AMERICAN EXPRESS CO B/E 03.550% 091570 DTD080321 FC091521 FIX-TO-FLT 248,664 256,716
AMERICAN HONDA FIN NTS 04.400% 090529 DTD090524 FC030525 CALL@MW+15BP 985,180 1,000,837
AT&T INC B/E 02.750% 060131 DTD052820 FC120120 CALL@MW+35BP 382,277 422,071
BANK OF AMER CORP B/E 02.884% 102230 DTD102219 CALL@MW+20BP 132,716 143,629
BANK OF AMER CORP B/E 05.875% 091566 DTD031518 FC091518 FIX-TO-FLOAT 248,100 258,205
BANK OF AMER CORP NTS 05.080% 012027 DTD012023 FC072023 CALL@MW+20BP 265,745 266,133
BK OF AMER CORP B/E 02.299% 072132 DTD072121 FC012122 200,222 215,439
BROADCOM INC NTS B/E 03.459% 091526 DTD060420 FC091520 CALL@MW+50BP 5,762 6,044
BROADCOM INC NTS B/E 04.300% 111532 DTD050820 FC111520 CALL@MW+50BP 523,728 598,023
CHARTER COMM OPT LLC/CAP 04.200% 031528 DTD091817 FC031518 NTS B/E 309,501 328,493
CISCO SYSTEMS INC NTS 04.950% 022631 DTD022624 FC082624 CALL@MW+10BP 356,268 373,618
CITIGROUP INC B/E 02.976% 110530 DTD110519 CALL@MW+20BP 312,380 356,456
CITIGROUP INC NTS B/E 03.070% 022428 DTD021622 FC082422 CALL@MW+18BP 213,001 227,895
COMCAST CORP B/E 04.800% 051533 DTD050923 FC111523 522,857 567,187
DTE ENERGY CO B/E 05.850% 060134 DTD050324 FC120124 CALL@MW+20BP 971,762 978,654
ELI LILLY & CO NTS B/E 04.550% 101532 DTD082025 FC041526 CALL@MW+10BP 981,643 1,000,756
EQT CORP NTS B/E 03.900% 100127 DTD100417 FC040118 CALL@MW+25BP 1,858 2,011
EVERSOURCE ENERGY B/E 05.950% 071534 DTD041824 FC071524 CALL@MW+25BP 352,034 358,630
EVERSOURCE ENERGY NTS 05.500% 010134 DTD011924 FC070124 CALL@MW+25BP 532,631 562,345
FISERV INC B/E 3.500% 070129 DTD062419 FC010120 CALL@MW+25BP 286,430 292,421
GENERAL MOTORS FINL CO 05.550% 071529 DTD040424 FC071524 CALL@MW+20BP 133,972 144,561
GENL MOTORS FINL CO INC 04.350% 011727 DTD011717 FC071717 CALL@MW+30BP 313,240 333,161
GOLDMAN SACHS GROUP INC 03.102% 022433 DTD012422 FIX TO FLOATCALL@MW+20BP 428,045 451,849
GOLDMAN SACHS GROUP INC 06.561% 102434 DTD102423 FC042424 CALL@MW+25BP 350,131 357,078
HCA INC B/E 05.450% 091534 DTD081224 FC031525 CALL@MW+25BP 328,493 347,560
HCA INC NTS B/E 05.250% 061526 DTD031516 FC121516 CALL@MW+50BP 296,730 300,934
INTEL CORP NTS B/E 04.875% 021026 DTD021023 CALL@MW+15BP 142,926 146,842
JOHN DEERE CAPITAL CORP 04.800% 010926 DTD010923 FC070923 MED TERM NTS 99,993 102,312
JOHN DEERE CAPITAL CORP 04.950% 071428 DTD071423 FC011424 NTS B/E 113,351 119,727
JPMORGAN CHASE & CO NTS 03.625% 120127 DTD111616 FC060117 B/E 190,722 199,614
JPMORGAN CHASE & CO NTS 04.565% 061430 DTD061422 FC121422 CALL@MW+25BP 449,316 487,958
META PLATFORMS INC B/E 04.750% 081534 DTD080924 FC021525 CALL@MW+15BP 207,923 218,047
META PLATFORMS INC NTS 03.500% 081527 DTD080922 FC021523 CALL@MW+15BP 190,998 202,266
MORGAN STANLEY B/E 02.699% 012231 DTD012220 FC072220 CALL@MW+15 BP 82,058 88,242
MORGAN STANLEY B/E 3.622% 040131 DTD033120 FC100120 CALL@MW+45BP 742,394 757,668
MORGAN STANLEY NTS B/E 05.050% 012827 DTD011923 FC072823 182,088 186,032
ORACLE CORP NTS B/E 05.200% 092635 DTD092625 CALL@MW+20BP 220,897 220,138
PACIFIC GAS & ELEC NTS 03.150% 010126 DTD070220 CALL@MW+25BP 332,487 361,607
PAYPAL HOLDINGS INC B/E 05.100% 040135 DTD030625 FC100125 CALL@MW+15BP 403,181 413,092
PAYPAL HOLDINGS INC NTS 02.850% 100129 DTD092619 FC040120 CALL@MW+20BP 301,486 324,443
PGIM SHORT-TERM CORP BOND CL Z 132,522 137,614
PNC FINL SERV GRP INC WT 6.000% 042671 DTD042622 FC081522 EXP B/E 258,479 262,831
SOUTHERN CAL EDISON NTS 05.850% 110127 DTD110822 FC050123 CALL@MW+25BP 204,403 207,486
SOUTHERN CALIF EDISON CO 05.150% 060129 DTD030124 FC060124 CALL@MW+15BP 652,045 671,731
T-MOBILE USA INC B/E 05.750% 011534 DTD091423 FC011524 CALL@MW+25BP 644,749 687,359
TRUIST FINANCIAL CORP 06.047% 060827 DTD060823 FC120823 NTS B/E 480,463 483,888
UNITED PARCEL SVC INC 05.250% 051435 DTD051425 FC111425 CALL@MW+15BP 427,868 443,260
WALT DISNEY COMPANY/THE 2.000% 090129 DTD090619 FC030120 CALL@MW+15BP 531,525 606,916
WELLS FARGO & CO B/E 02.879% 103030 DTD103119 FC043020 CALL@MW+20BP 233,657 267,836
WELLS FARGO & CO B/E 06.491% 102334 DTD102323 FC042324 CALL@MW+30BP 43,610 44,836
WELLS FARGO & CO NEW B/E 06.850% 091573 DTD072324 FC091524 FIX-TO-FLT 255,625 262,019
DISCOVERY COMM LLC NTS 03.950% 032028 DTD032025 FC092025 CALL@MW+30BP 354,772 368,530
JPMORGAN CHASE & CO. B/E 06.500% 040174 DTD020425 FC040125 FIX-TO-FLT 241,056 249,274
LINCOLN NATL CORP DEPOSI SER D 9.000% PREFERRED CLBL PAR VALUE - 25.00 241,180 241,470
COLUMBIA STRATEGIC INCOME FUND CLASS INSTITUTIONAL 104,004 105,485
BHP BILLITON FIN LTD NTS 05.250% 090830 DTD090823 FC030824 CALL@MW+15BP 440,020 463,842
CANADIAN IMPERIAL BANK 05.260% 040829 DTD040824 FC100824 CALL@MW+15BP 565,545 601,837
PFIZER INVT ENTER NTS 04.450% 051928 DTD051623 CALL@MW+15BP 225,066 228,286
PFIZER INVT ENTER NTS 04.750% 051933 DTD051923 FC111923 CALL@MW+20BP 934,511 977,330

TY 2025 InvestmentsCorpStockSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBVIE INC COM 171,349 261,164
ACCENTURE PLC IRELAND CL A 163,670 254,885
ALPHABET INC CL A 105,271 412,221
AMAZON.COM INC 227,043 420,785
APPLE INC 209,178 598,092
BERKSHIRE HATHAWAY INC CL A 312,670 754,800
BERKSHIRE HATHAWAY INC NEW CL B 433,482 792,679
BROADCOM INC 98,331 259,575
CATERPILLAR INC 105,913 179,308
CHEVRON CORP 224,719 309,240
CME GROUP INC 64,330 83,836
COCA COLA CO COM 270,466 389,958
COSTCO WHOLESALE CORP 139,052 238,868
GOLDMAN SACHS GROUP INC 94,914 169,647
HOME DEPOT INC 242,180 452,492
INTERCONTINENTALEXCHANGE GROUP 81,998 139,771
JPMORGAN CHASE & CO 508,863 1,681,988
LILLY ELI & CO 115,720 1,074,680
LOCKHEED MARTIN CORP 211,237 334,700
MARSH 78,208 99,624
MCDONALDS CORP 231,486 388,150
MICROSOFT CORP 367,850 1,378,317
NEXTERA ENERGY INC COM 215,956 389,358
O REILLY AUTOMOTIVE INC 76,751 170,289
ORACLE CORP 60,391 154,174
PROCTER & GAMBLE CO 129,285 128,692
SHERWIN WILLIAMS CO 60,478 86,516
SIMON PPTY GROUP INC SBI 95,233 120,692
TEXAS INSTRUMENTS 119,337 116,759
THERMO FISHER SCIENTIFIC INC 117,019 185,424
TJX COS INC NEW 48,709 153,610
UNION PACIFIC CORP 74,027 113,347
VANGUARD MID-CAP ETF 835,563 1,103,951
VANGUARD INFORMATION TECHNOLOGY ETF 41,374 186,937
VISA INC CL A 87,727 151,156
WELLS FARGO & CO NEW 189,610 385,102
ARES MANAGEMENT CORPORATION CL A COM 111,319 133,830
BAHL & GAYNOR SMALL/MID CAP INCOME GROWTH ETF 111,489 110,966
CARILLON SCOUT MID CAP FUND CLASS I 310,969 368,133
COLGATE PALMOLIVE CO 139,790 170,762
CSX CORPORATION 404,548 641,988
DICK'S SPORTING GOODS INC 83,117 76,416
DIGITAL REALTY TRUST INC REIT 95,111 98,550
FEDEX CORP 83,656 116,988
FIFTH THIRD BANCORP 162,917 291,158
KINDER MORGAN INC 102,838 135,361
MONDELEZ INTL INC 87,047 75,577
PHILLIPS 66 246,385 337,956
REGIONS FINANCIAL CORP 88,244 121,300
TRUIST FINL CORP 88,486 104,522
US BANCORP DEL (NEW) 83,392 105,279
VANGUARD MID-CAP GROWTH ETF 644,391 1,037,284
WILLIAMS COS INC (DEL) 89,598 141,559
WOODWARD INC 525,230 2,137,402
YUM! BRANDS INC 51,917 76,094
CRANE CO 145,088 475,829
CRANE NXT CO 78,455 127,089
DFA US MICRO CAP FUND CLASS I 246,198 355,784
EPR PROPERTIES REIT 81,496 93,163
OLD NATL BANCORP EVANSVL IND 286,101 414,475
REGAL REXNORD CORP 195,229 391,072
VANGUARD SMALL-CAP ETF 463,685 742,896
VANGUARD SMALL-CAP VALUE ETF 303,246 430,145
TEMPLETON GLOBAL SMALLER COMPANIES ADVISORS CLASS 182,698 205,310
BROOKFIELD INFRA CORP CAD 46,913 61,290
CHUBB LTD CHF 143,504 202,878
DFA INTERNATIONAL SMALL COMPANY FUND CLASS I 403,709 560,273
EATON CORP PLC 86,832 85,998
ENBRIDGE INC CAD 109,148 132,585
ISHARES CORE MSCI EAFE ETF 2,459,839 3,352,961
LAZARD INTERNATIONAL EQUITY FUND INSTITUTIONAL SHS 2,063,641 2,364,992
LINDE PLC NEW EUR 81,206 128,770
NOVARTIS AG SPON ADR 228,354 424,364
DFA EMERGING MARKETS SMALL CAP FUND CLASS I 116,660 147,532
DIMENSIONAL ETF TRUST EMGR CRE EQT MNG 611,971 865,287
ISHARES CORE MSCI EMERGING MARKETS ETF 682,740 892,682

TY 2025 InvestmentsOtherSchedule2
Name:
Avis Foundation Inc
EIN:
20-5063209
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
APOLLO DEBT SOLUTIONS BDC CLASS S A/O 12/31/2025 AT COST 1,500,000 1,545,359
BLACKSTONE PRIVATE CREDIT FUND CLASS S A/O 01/31/26 AT COST 2,123,853 2,080,422
BLUE OWL TECHNOLOGY INCOME CORP CLASS S A/O 01/31/2026 AT COST 1,500,000 1,557,472
BLACKSTONE REAL ESTATE INCOME TRUST INC CL S-P A/O 01/31/2026 AT COST 928,257 1,094,232
FS CREDIT REAL ESTATE INCOME TRUST, INC. CLASS S A/O 01/31/2026 AT COST 1,497,150 1,478,530
KKR REAL ESTATE SELECT TRUST- CLASS U AT COST 919,826 663,894
STARWOOD REAL ESTATE INCOME TRUST, INC. CLASS S A/O 01/31/2026 AT COST 775,459 644,389
INFRASTRUCTURE INVSTMNT FD (ICAP) LTD. CL A DIS A/O 09/30/2025 AT COST 2,679,533 3,397,240
TBFC FINANCIAL TECHNOLOGIES FUND LP AT COST 331,871 287,777

TY 2025 OtherAssetsSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Marion Property 7,300 7,300 7,300
Art 7,050 7,050 7,050


TY 2025 OtherDecreasesSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Description Amount
Passthrough adjusted Basis 657


TY 2025 OtherExpensesSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Insurance 6,714 0   6,714
Office Supplies 1,242 0   1,242
Other Deductions from Passthroughs 27,432 27,432   0
Bond Amortization Expense 2,986 2,986   0


TY 2025 OtherIncomeSchedule2
Name:
Avis Foundation Inc
EIN:
20-5063209
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Other Income from Partnerships 56,334 56,334 56,334


TY 2025 OtherProfessionalFeesSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Fees 251,806 251,806   0
Payroll Fees 2,113 0   2,113


TY 2025 TaxesSchedule
Name:
Avis Foundation Inc
EIN:
20-5063209
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Excise Taxes 16,283 0   0
Foreign Taxes 7,268 7,268   0
Property Taxes 200 200   0