Frank E Duckwall Foundation — Form 990PF, tax year 2025

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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
Frank E Duckwall Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address) PO Box 3351
  Room/suite
City or town
Tampa
State or province
FL
Country  
ZIP or foreign postal code
33601
A Employer identification number

59-6773462
B Telephone number (see instructions)

8136344172
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)$8,339,672J 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 81,797 81,797  
4 Dividends and interest from securities... 156,271 156,271  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 171,428
b Gross sales price for all assets on line 6a 1,961,650
7 Capital gain net income (from Part IV, line 2)... 171,428
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 409,496 409,496  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 48,000 24,000   24,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
6,350      
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
58,007 58,007    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
40      
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,800     2,800
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments
List of Attached Documents:
// Content
16,355     16,355
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 131,552 82,007   43,155
25 Contributions, gifts, grants paid....... 400,000 400,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 531,552 82,007   443,155
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -122,056
b Net investment income (if negative, enter -0-) 327,489
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......... 84,576 239,054 239,054
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) 49,484 Click to see attachment
List of Attached Documents:
// Content
49,484 		51,135
b Investments—corporate stock (attach schedule)....... 4,545,193 Click to see attachment
List of Attached Documents:
// Content
4,473,779 		6,171,433
c Investments—corporate bonds (attach schedule)....... 2,074,843 Click to see attachment
List of Attached Documents:
// Content
1,867,897 		1,873,550
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
4,500 		Click to see attachment
List of Attached Documents:
// Content
4,500 		Click to see attachment
List of Attached Documents:
// Content
4,500
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,758,596 6,634,714 8,339,672
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 6,758,596 6,634,714
29 Total net assets or fund balances (see instructions)..... 6,758,596 6,634,714
30 Total liabilities and net assets/fund balances (see instructions). 6,758,596 6,634,714
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
6,758,596
2
Enter amount from Part I, line 27a .....................
2
-122,056
3
Other increases not included in line 2 (itemize)
3
 
4
Add lines 1, 2, and 3 ..........................
4
6,636,540
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
1,826
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
6,634,714
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 Hancock Whitney Bank #3031 LT Covered P 2024-01-01 2025-12-31
b Hancock Whitney Bank #3031 ST Covered P 2025-01-01 2025-12-31
c Hancock Whitney Bank #2437 LT Covered P 2010-01-01 2025-12-31
d 127 Shs Paychex Inc P 2009-08-24 2025-02-26
e Hancock Whitney Bank #2437 ST Covered P 2025-01-01 2025-12-31
Cap Gain Dividends P    
1,749 Shs Realty Income Corp - basis adjustment P 2020-04-13 2025-08-27
Wells Fargo - Securities Litigation Proceeds P 2020-01-01 2025-02-10
(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 41,843   38,933 2,910
b 340,199   318,249 21,950
c 1,382,513   1,214,520 167,993
d 19,152   3,621 15,531
e 173,448   214,899 -41,451
6     6
1,694     1,694
2,795     2,795
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       2,910
b       21,950
c       167,993
d       15,531
e       -41,451
      6
      1,694
      2,795
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 2 171,428
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 4,552
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  
3 Add lines 1 and 2........................... 3 4,552
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,552
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 7,120
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,120
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 2,568
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax2,568 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. $   (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)
FL
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 addressN/A
14
The books are in care ofSandra Tolle Telephone no. (813) 634-4172

Located at2914 Ponderosa TrailWimaumaFL ZIP+4335987519
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)
 
No
(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
Frank J Rief III Trustee
1.00 		20,000    
2611 Bayshore Blvd 907
Tampa,FL336297433
G Lowe Morrison Trustee
1.00 		20,000    
1807 Moccasin Hollow Road
Sarasota,FL34240
Sandra E Tolle Trustee
1.00 		8,000    
2914 Ponderosa Trail
Wimauma,FL33598
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...................  
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 arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
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
7,966,773
b
Average of monthly cash balances.......................
1b
158,408
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
8,125,181
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
 
3
Subtract line 2 from line 1d.........................
3
8,125,181
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
121,878
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
8,003,303
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
400,165
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
400,165
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
4,552
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,552
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
395,613
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
395,613
6
Deduction from distributable amount (see instructions) .................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
395,613
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
443,155
b
Program-related investments—total from Part VIII-B..................
1b
 
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
443,155
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 7 395,613
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 68,196
b From 2021...... 26,092
c From 2022...... 33,275
d From 2023...... 47,955
e From 2024...... 45,113
f Total of lines 3a through e ........ 220,631
4Qualifying distributions for 2025 from Part
XI, line 4: $ 443,155
a Applied to 2024, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		 
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 395,613
e Remaining amount distributed out of corpus 47,542
5 Excess distributions carryover applied to 2025.    
(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 5 268,173
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		68,196
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		199,977
10 Analysis of line 9:
a Excess from 2021 .... 26,092
b Excess from 2022 .... 33,275
c Excess from 2023 .... 47,955
d Excess from 2024 .... 45,113
e Excess from 2025 .... 47,542
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:
Sandra Tolle
PO Box 3351
Tampa,FL336013351
(813) 634-4172
bThe form in which applications should be submitted and information and materials they should include:
Application explaining need and intended use
cAny submission deadlines:
None
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Charitable, Medical, Cultural, Educational, Literacy & Scientific Purposes in the Tampa Bay, Florida area
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

The Chiselers Inc

PO Box 18633
Tampa,FL33679 		N/A   Funding to support the Chiselers. 2,500

H Lee Moffitt Cancer Center

12902 Magnolia Drive
Tampa,FL33612 		N/A   Funding for the SPARK Program. 25,000

St Josephs Hospitals Foundation

2700 W Dr MLK Jr Blvd Ste 310
Tampa,FL33607 		N/A   Funding to purchase children gifts for Christmas in July. 5,000

Society of St Andrew

PO Box 536842
Orlando,FL32853 		N/A   Funding to be used to distribute fresh fruits and vegetables to people in need. 5,000
Tampa Bay Watch


3000 Pinellas Bayway South
Tierra Verde,FL33715 		N/A   Funding to be used to upgrade the main office's network and Wi-Fi infrastructure. 5,000
Academy Prep Center of Tampa


1407 E Columbus Drive
Tampa,FL33605 		N/A   Funding to purchase solid hardwood science tables. 5,000

Frameworks of Tampa Bay Inc

402 East Oak Avenue
Tampa,FL33602 		N/A   Funding to purchase laptops, docks, desktops and SourceOne support. 8,500

Florida Museum of Photographic Arts

1630 E 7th Avenue
Tampa,FL33605 		N/A   Funding to purchase two display cases for the Soldier's Lens exhibition. 5,500

Community Foundation of Tampa Bay Inc

4300 Cypress Street Ste 700
Tampa,FL33607 		N/A   Funding for the Solutions Journalism Fund to be used for stories on philanthropy in the Tampa Bay area. 12,000

Chapters Health System

12470 Telecom Drive Ste 300
Temple Terrace,FL33637 		N/A   Funding for Lifepath Hospice care in Hillsborough County. 3,000

Florida Humanities Council

599 Second Street South
St Petersburg,FL33701 		N/A   funding for celebration of 50th Anniversary and dinner to honor Gary Morminos' lifetime work. 7,500

Mote Marine Laboratory

1600 Ken Thompson Parkway
Sarasota,FL34236 		N/A   Final installment for challenge grant. 50,000

The Poynter Institute

801 Third Street South
St Petersburg,FL33701 		N/A   Funding for First Amendment sponsorship level for the BowTie Ball. 25,000

Old Hyde Park Art Center

705 W Swann Avenue
Tampa,FL33606 		N/A   Funding to be used to replace windows and siding. 2,500

Straz Center for the Performing Arts

1010 N WC Macinnes Place
Tampa,FL33602 		N/A   Third installment of challenge grant. 50,000

USF Contemporary Art Museum

3821 USF Holly Drive CAM 101
Tampa,FL33620 		N/A   Funding for the publication of the book USF is working with GILES Ltd about Rauschenberg and Saff's collaborations at Graphic studio. 2,500

Marie Selby Botanical Gardens

1534 Mound Street
Sarasota,FL34236 		N/A   Third installment of challenge grant. 50,000

The Florida Aquarium

701 Channelside Drive
Tampa,FL33602 		N/A   Funding to purchase incubator. 5,000
Tampa Regional Artists


705 W Swann Avenue
Tampa,FL33606 		N/A   Funding to be used for the Doodad Repurposed Sculpture Competition for 2025 and sponsorship of the Competition for 2026. 5,000
Heart Gallery of Tampa


5463 W Waters Avenue Suite 850
Tampa,FL33634 		N/A   Funding to purchase needed equipment. 4,850
United Food Bank of Plant City


702 E Alsobrook Street Suite H
Plant City,FL33563 		N/A   Funding to be used to purchase items on wish list. 5,000
Tampa Bay Times NIE


490 First Avenue S
St Petersburg,FL33701 		N/A   Funding for the "Exploring WWII in Florida" program. 2,500
Henry B Plant Museum


401 West Kennedy Blvd
Tampa,FL33606 		N/A   Funding to be used in underwriting the special exhibit "Dress for Success" that ran from March trhough December 2025. 2,500

Hermitage Artist Retreat

6630 Manasota Key Road
Englewood,FL34223 		N/A   Funds to be used to restore the outdoor kitchen and replace beach accessibility equipment. 15,000
Florida Wildlife Corridor Foundatio


2606 Fairfield Avenue S Bldg 7
St Petersburg,FL33712 		N/A   Funding to be used towards the purchase of Acoustic Clouds for Soundproofing. 15,500
Palladium Theater


253 5th Avenue N
St Petersburg,FL33701 		N/A   Funding to be used for the renovation of the Palladium. 15,000

ZooTampa at Lowry Park

1101 W Sligh Ave
Tampa,FL33604 		N/A   Funding to support ZooTampa. 12,500

Dogs Inc

4210 77th Street East
Palmetto,FL34221 		N/A   Funding to support Dogs, Inc. 12,500

Tampa Arts Alliance

701 S Howard 106-233
Tampa,FL33606 		N/A   Funding to be used to assist with the build out of the space at new location and completion of challenge grant. 20,000

The Portico Cafe

1001 N Florida Ave
Tampa,FL33602 		N/A   Funding to be used to purchase planned upgrades on wish list. 5,000

Harvest House

3650 17th St
Sarasota,FL34235 		N/A   Funding to upgrade the Toddler-Friendly Playground. 5,000

Tampa Bay Garden Club

2629 Bayshore Blvd
Tampa,FL33629 		N/A   Funding for Palma Ceia Springs restoration. 1,650

Heart for Winter Haven

PO Box 2383
Winter Haven,FL33883 		N/A   Funding to purchase a commercial-grade oven and stove. 4,000

Dunedin Fine Art Center

1143 Michigan Blvd
Dunedin,FL34698 		N/A   Funding to be used for the Children's Art Museum Technology enhancements. 5,000
Total ................................. 3a 400,000
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 ........... 		    14 81,797  
4 Dividends and interest from securities ....     14 156,271  
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 ............ 		    18 171,428  
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) ..   409,496  
13Total. Add line 12, columns (b), (d), and (e)..................
13
409,496
(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: 25022934
Software Version: 2025v4.1


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 6,350 0 0 0

TY 2025 InvestmentsCorpBondsSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Name of Bond End of Year Book Value End of Year Fair Market Value
Blackrock Inc Mtn Dtd 51,257 46,835
Bank of America Corp FR DTD 50,075 49,936
International Business Machines 102,578 104,999
United Parcel Service Dtd 50,640 49,432
Wells Fargo & Co Sr Nt Dtd 50,189 49,638
Visa Inc Dtd 102,652 98,807
Apple Inc Dtd 11/13/2027 103,094 98,993
Archer Daniels Midland Co 26,230 24,168
Intel Corp Dtd 11/21/2019 102,913 93,319
Public Storage Dtd 04/23/2021    
Texas Instruments Inc Dtd 11/03/2017 51,479 49,484
3M Co Dtd 03/27/2020 105,416 95,644
Honeywell International 76,173 77,253
Lockheed Martin Corp 99,304 102,419
Marsh & McLennan Cos Inc 97,950 107,257
Morgan Stanley Variable 98,282 109,597
Pfizer Investment Enter 197,136 204,123
Union Pacific Corp Dtd 103,716 107,733
US Bancorp Dtd 51,840 48,173
Aon North America Inc 50,757 52,062
Autozone Inc 4.75% 47,780 50,513
BP Capital Markets America Inc    
Cigna Group 49,234 51,731
Comcast Corp 52,027 49,204
Marriott International Inc 48,511 51,569
Wells Fargo & Co Variable 98,664 100,661

TY 2025 InvestmentsCorpStockSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Name of Stock End of Year Book Value End of Year Fair Market Value
Microsoft Corp 22,758 190,058
Paychex Inc 23,509 73,478
Pepsico Inc 42,135 76,066
United Parcel Service 58,355 64,474
Pfizer Inc    
Medtronic plc Shs 132,104 146,492
Verizon Communications Inc 138,892 119,013
Home Depot Inc 74,868 135,920
McDonald's Corp 57,471 101,469
AFLAC INC 43,773 105,528
JPMorgan Chase & Co Com 51,144 157,243
Merck & Co Inc 60,296 102,629
Waste Management Inc 58,535 147,206
Prologis Inc 73,012 139,532
Nextera Energy Inc 69,104 113,837
US Bancorp    
Johnson & Johnson 86,644 131,413
Union Pacific Corp 65,708 88,827
Mid-America Apartment Communities Inc    
Coca-Cola Co 83,811 112,975
Procter & Gamble Co 71,255 82,690
Chevron Corp Com 54,240 96,780
Nasdaq Inc Com    
Unitedhealth Group Inc    
General Dynamics Corp 42,881 105,375
Texas Instruments Inc 105,514 140,180
Accenture PLC A    
Realty Income Corp    
Best Buy    
Bank of New York Mellon Corp 50,821 130,950
Blackrock Inc 74,185 109,175
Duke Energy Corp 97,132 122,133
Abbvie Inc Com    
Amgen Inc 82,181 106,376
Fastenal Co 70,899 104,177
General Mills Inc    
PNC Financial Services Group Inc 113,717 146,111
Southern Co 74,691 91,124
American Water Works Co Inc 70,071 77,648
Apple Inc. 72,543 104,666
Exxon Mobile Corp 139,137 149,824
L3Harris Technologies Inc 87,893 125,648
Materials Select Sector SPDR Fund 88,252 89,793
Stanley Black & Decker Inc    
International Business Machines 43,520 69,313
AbbVie Inc 31,745 38,386
Adobe Inc    
Alphabet Inc 45,494 86,388
Amazon Inc 49,656 58,397
Analog Devices Inc 28,430 33,900
Apple Inc 60,781 72,587
Becton Dickinson & Co 30,881 25,617
The Boeing Company 30,813 43,424
Citigroup Inc 26,670 45,392
CSX Group    
Dollar General Corp    
Emerson Electric Co    
EOG Resources Inc 20,596 17,222
Goldman Sachs Group 31,194 51,861
Honeywell International Inc 33,306 32,775
IDEXX Laboratories Inc    
Intuitive Surgical Inc 23,526 26,053
Lowe's Cos Inc 38,798 37,139
Marvell Technology Inc    
Mastercard Inc 38,602 43,387
McDonald's Corp    
Meta Platforms Inc 47,998 55,448
Microsoft CORP 67,978 77,863
Nvidia Corp 66,932 93,437
Paypal Holdings Inc 16,483 11,676
Starbucks Corp    
Sysco Corp 28,362 27,486
Target Corp    
UnitedHealth Group Inc    
Wells Fargo & Co    
Walt Disney Co 49,218 55,747
Broadcom Inc 31,114 44,993
Carlisle Cos Inc 23,006 20,791
Delta Air Lines Inc 19,258 34,145
Ingersoll Rand Inc 30,781 31,846
Intuit Inc 34,209 33,783
Marsh & Mclennan Cos Inc 39,927 35,620
The Procter & Gamble Co 15,911 16,051
Salesforce Inc 27,977 29,140
ServiceNow Inc 14,830 11,489
The Sherwin-Williams Co 35,347 33,699
Abbot Laboratories 45,597 42,849
Alphabet Inc 45,345 43,820
Bank Of America Corp 98,145 121,000
Bristol-Myers Squibb Co 36,094 41,102
CF Industries Holdings Inc 44,971 44,625
Cincinnati Financial Group 22,462 21,722
Costco Wholesale Corp 44,743 43,117
Cummins Inc 89,604 115,362
CVS Health Corp 48,655 53,965
eBay Inc 49,249 43,202
Franklin Resources Inc 67,700 72,626
The Goldman Sachs Group Inc 45,083 49,224
Hewlett Packard Enterprise Co 36,322 38,432
Kohl's Corp 60,988 88,988
Lam Research Corp 60,269 100,996
Nexstar Media Group Inc 44,804 47,717
Old Republic International Corp 45,074 44,316
Quest Diagonistics Inc 45,674 45,638
NXP Semiconductors NV 22,126 28,867

TY 2025 InvestmentsGovtObligationsSch
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
US Government Securities - End of Year Book Value:

49,484
US Government Securities - End of Year Fair Market Value:

51,135
State & Local Government Securities - End of Year Book Value:


 
State & Local Government Securities - End of Year Fair Market Value:


 


TY 2025 OtherAssetsSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Artwork -Mann Wagnon Memorial Park on th 4,500 4,500 4,500


TY 2025 OtherDecreasesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Description Amount
Book/Tax Basis Differences 1,826


TY 2025 OtherExpensesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Expenses 13,805     13,805
Dues 2,550     2,550


TY 2025 OtherProfessionalFeesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Mgmt Fees 58,007 58,007 0 0


TY 2025 TaxesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
25022934
Software Version:
2025v4.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Foreign Taxes 40