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
DUNCAN JOHN G TUW
 
Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 505 MAC H0006-092
  Room/suite
City or town
SAINT LOUIS
State or province
MO
Country  
ZIP or foreign postal code
63166
A Employer identification number

84-6016555
B Telephone number (see instructions)

8887304933
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)$10,236,565J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 243,005 238,867  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 504,350
b Gross sales price for all assets on line 6a 1,490,359
7 Capital gain net income (from Part IV, line 2)... 504,350
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 747,355 743,217  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 109,705 82,279   27,426
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,341 0 0 1,341
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
15,881 11,221   4,660
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
19,414 5,192   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
101 101    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 146,442 98,793 0 33,427
25 Contributions, gifts, grants paid....... 398,100 398,100
26 Total expenses and disbursements. Add lines 24 and 25 ................ 544,542 98,793 0 431,527
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 202,813
b Net investment income (if negative, enter -0-) 644,424
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,717    
2 Savings and temporary cash investments......... 219,116 236,751 236,751
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts 0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 2,766,217 Click to see attachment
List of Attached Documents:
// Content
3,087,094 		6,413,876
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,168,534 Click to see attachment
List of Attached Documents:
// Content
3,038,313 		3,585,938
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,155,584 6,362,158 10,236,565
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........ 6,155,584 6,362,158
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 6,155,584 6,362,158
30 Total liabilities and net assets/fund balances (see instructions). 6,155,584 6,362,158
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
6,155,584
2
Enter amount from Part I, line 27a .....................
2
202,813
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
11,390
4
Add lines 1, 2, and 3 ..........................
4
6,369,787
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
7,629
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
6,362,158
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 1227.394 INV OPP DEVELOP MRKTS-R6 7038   2017-09-05 2025-02-06
b 135. BROADCOM INC   2019-07-03 2025-02-06
c 140. COGNIZANT TECH SOLUTIONS CRP COM   2017-08-07 2025-02-06
d 30. META PLATFORMS INC   2021-04-08 2025-02-06
e 1024. ISHARES CORE MSCI EMERGING ETF   2021-05-13 2025-02-06
55. JPMORGAN CHASE & CO   2017-12-07 2025-02-06
15. ELI LILLY & CO COM   2017-12-07 2025-02-06
40. MICROSOFT CORP   2004-02-25 2025-02-06
1554. SPDR DJ WILSHIRE INTERNATIONAL R ETF   2017-09-05 2025-02-06
300. SUNCOR ENERGY INC NEW F   2023-03-20 2025-02-06
145.00011 TOTAL S.A. - ADR   2024-06-11 2025-02-06
124.99989 TOTAL S.A. - ADR   2024-06-11 2025-02-06
70. TOTAL S.A. - ADR   2023-12-14 2025-02-06
240. UNILEVER PLC - ADR   2020-02-03 2025-02-06
115. ALPHABET INC CL C   2017-12-07 2025-02-27
695. CELANESE CORP     2025-02-27
1645. CISCO SYSTEMS INC   2013-03-14 2025-02-27
940. MERCK & CO INC NEW     2025-02-27
70. GARMIN LTD   2020-05-28 2025-02-27
245. ALPHABET INC CL C     2025-03-04
40. APPLE INC   2011-08-24 2025-03-04
15. META PLATFORMS INC   2024-03-25 2025-03-04
25. META PLATFORMS INC   2021-04-08 2025-03-04
140. LAM RESH CORP   2018-07-24 2025-03-04
80. UNITED PARCEL SERVICE-CL B   2024-09-25 2025-03-04
75. UNITED PARCEL SERVICE-CL B   2023-02-09 2025-03-04
370. ALPHABET INC CL C   2017-10-04 2025-03-26
59. APPLE INC   2011-08-24 2025-03-26
85. BLACKSTONE INC   2023-03-20 2025-03-26
555. CITIGROUP INC.     2025-03-26
114. JPMORGAN CHASE & CO     2025-03-26
664. REGIONS FINL CORP NEW     2025-03-26
353. SUNCOR ENERGY INC NEW F     2025-03-26
350. TARGET CORP   2003-10-08 2025-03-26
125. TOTAL S.A. - ADR   2024-07-02 2025-03-26
236. TOTAL S.A. - ADR     2025-03-26
75. META PLATFORMS INC     2025-04-08
62. VISA INC-CLASS A SHRS   2021-12-22 2025-04-08
87. GARMIN LTD   2020-05-28 2025-04-08
80. UNITED PARCEL SERVICE-CL B   2024-09-25 2025-04-24
450. UNITED PARCEL SERVICE-CL B     2025-04-24
112. APPLE INC   2025-04-08 2025-05-12
40. JPMORGAN CHASE & CO   2017-11-01 2025-05-12
634. MANULIFE FINANCIAL CORP     2025-05-12
49. WASTE MANAGEMENT INC     2025-05-12
61. BROADCOM INC   2025-02-27 2025-06-25
26. MICROSOFT CORP   2004-02-25 2025-06-25
109. UNITEDHEALTH GROUP INC     2025-06-25
77. ALPHABET INC CL C   2017-10-04 2025-07-16
14. BROADCOM INC   2025-02-27 2025-07-16
36. BROADCOM INC   2019-07-03 2025-07-16
186. UNITEDHEALTH GROUP INC   2017-08-07 2025-07-16
93. TE CONNECTIVITY PLC   2021-11-19 2025-07-16
31. BERKSHIRE HATHAWAY INC.   2025-03-26 2025-09-23
172. LAM RESH CORP   2018-07-24 2025-09-23
164. RTX CORP     2025-09-23
45. BROADCOM INC   2019-07-03 2025-10-07
665. COGNIZANT TECH SOLUTIONS CRP COM   2017-08-07 2025-10-07
42. BROADCOM INC   2019-07-03 2025-11-04
80. EATON CORP PLC   2021-02-10 2025-11-04
80. ADVANCED MICRO DEVICES INC     2025-11-06
69. ECOLAB INC   2025-02-27 2025-12-15
48. HILTON WORLDWIDE HOLDINGS IN   2024-03-25 2025-12-15
14. ELI LILLY & CO COM   2017-12-07 2025-12-15
232. MAGNUM ICE CREAM CO BV/THE     2025-12-15
CAPITAL GAIN DIVIDENDS P    
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(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 47,942   50,241 -2,299
b 31,067   3,841 27,226
c 12,023   9,812 2,211
d 21,289   9,346 11,943
e 54,904   65,068 -10,164
15,045   5,760 9,285
13,079   1,275 11,804
16,642   1,070 15,572
37,520   60,839 -23,319
11,466   8,889 2,577
8,806   10,008 -1,202
7,591   8,628 -1,037
4,251   4,757 -506
13,902   14,122 -220
19,771   5,932 13,839
35,373   73,192 -37,819
105,417   35,746 69,671
84,734   53,649 31,085
15,773   6,378 9,395
42,685   12,081 30,604
9,533   534 8,999
9,727   7,586 2,141
16,212   7,789 8,423
10,858   2,429 8,429
9,404   10,512 -1,108
8,817   13,944 -5,127
62,078   17,714 44,364
13,088   787 12,301
12,446   6,646 5,800
40,613   41,274 -661
28,556   11,657 16,899
14,753   14,452 301
13,719   9,364 4,355
36,878   13,725 23,153
8,107   8,624 -517
15,306   14,997 309
38,605   22,709 15,896
19,378   13,553 5,825
14,989   7,927 7,062
7,876   10,512 -2,636
44,304   47,100 -2,796
23,599   19,726 3,873
10,387   4,046 6,341
20,104   11,949 8,155
10,996   6,505 4,491
16,092   12,550 3,542
12,763   695 12,068
32,988   28,516 4,472
14,195   3,686 10,509
3,912   2,880 1,032
10,058   1,024 9,034
54,604   36,175 18,429
16,312   15,334 978
15,351   16,489 -1,138
22,546   2,984 19,562
26,146   13,216 12,930
14,840   1,280 13,560
45,290   46,605 -1,315
14,882   1,195 13,687
29,989   9,736 20,253
19,312   7,534 11,778
17,931   18,495 -564
13,734   10,087 3,647
14,841   1,190 13,651
3,788   3,028 760
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
      3,014
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       -2,299
b       27,226
c       2,211
d       11,943
e       -10,164
      9,285
      11,804
      15,572
      -23,319
      2,577
      -1,202
      -1,037
      -506
      -220
      13,839
      -37,819
      69,671
      31,085
      9,395
      30,604
      8,999
      2,141
      8,423
      8,429
      -1,108
      -5,127
      44,364
      12,301
      5,800
      -661
      16,899
      301
      4,355
      23,153
      -517
      309
      15,896
      5,825
      7,062
      -2,636
      -2,796
      3,873
      6,341
      8,155
      4,491
      3,542
      12,068
      4,472
      10,509
      1,032
      9,034
      18,429
      978
      -1,138
      19,562
      12,930
      13,560
      -1,315
      13,687
      20,253
      11,778
      -564
      3,647
      13,651
      760
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 504,350
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 8,957
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 8,957
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 8,957
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 9,028
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 9,028
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 71
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax71 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
CO
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 ofWELLS FARGO BANK NA Telephone no. (800) 352-3705

Located at100 N MAIN ST FL 5D4001-052WINSTON SALEMNC ZIP+427101
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
WELLS FARGO BANK N A TRUSTEE
1 		109,705    
100 N MAIN ST FL 5D4001-052
WINSTON SALEM,NC27101
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
9,328,139
b
Average of monthly cash balances.......................
1b
417,562
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
9,745,701
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
9,745,701
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
146,186
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
9,599,515
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
479,976
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
479,976
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
8,957
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
8,957
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
471,019
4
Recoveries of amounts treated as qualifying distributions................
4
8,498
5
Add lines 3 and 4............................
5
479,517
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
479,517
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
431,527
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
431,527
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 7 479,517
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 367,872
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 0
b From 2021...... 0
c From 2022...... 0
d From 2023...... 0
e From 2024...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 431,527
a Applied to 2024, but not more than line 2a 367,872
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..... 63,655
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 .......... 		415,862
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
NONE
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.
NONE
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:
WELLS FARGO BANK DUNCAN FOUNDATION
100 N MAIN ST FL 5 D4001-052
WINSTON SALEM,NC27101
(800) 352-3705
bThe form in which applications should be submitted and information and materials they should include:
CONTACT WELLS FARGO FOR GUIDELINES AND APPLICATION
cAny submission deadlines:
CONTACT WELLS FARGO FOR DEADLLINE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
CONTACT WELLS FARGO FOR RESTRICTIONS
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

CASA OF PUEBLO

130 W ABRIENDO AVE
PUEBLO,CO810044224 		NONE   GENERAL OPERATING 10,000

EQUINE ASSISTED THERAPY INC

3369 HIGHWAY 109
GLENCOE,MO630382237 		NONE   GENERAL OPERATING 7,500

ACCESS AFTERSCHOOL

PO BOX 3141
GLENWOOD SPRINGS,CO81602 		NONE   GENERAL OPERATING 10,000

BOY AND GIRLS CLUBS OF LA PLATA COUNTY

2750 MAIN AVE
DURANGO,CO81301 		NONE   GENERAL OPERATING 5,000

RIVERSIDE EDUCATION CENTERS

PO BOX 4367
GRAND JUNCTION,CO81502 		NONE   GENERAL OPERATING 7,500

BOYS AND GIRLS CLUBS OF PUEBLO COUNTY

635 W CORONA AVE STE 100
PUEBLO,CO81004 		NONE   GENERAL OPERATING 10,000

COLORADO METH PROJECT INC

11880 UPHAM ST UNIT F
BROOMFIELD,CO800202786 		NONE   GENERAL OPERATING 10,000

MOUNT CARMEL HEALTH WELLNESS & CMTY CENT

911 ROBINSON AVE
TRINIDAD,CO81082 		NONE   GENERAL OPERATING 5,000

HAVEN HOUSE OF MONTROSE INC

PO BOX 3122
MONTROSE,CO814023122 		NONE   GENERAL OPERATING 7,500

OLATHE COMMUNITY CLINIC INC

PO BOX 529
OLATHE,CO814250529 		NONE   GENERAL OPERATING 5,000

TOWN OF BRISTOL IMPROVEMENTS BOARD

101 S LABELLE AVENUE
BRISTOL,CO810479739 		NONE   GENERAL OPERATING 7,000

HILLCREST CARE CENTER & THE TOWERS

360 CANYON RIDGE DR
WRAY,CO80758 		NONE   GENERAL OPERATING 7,500

BOYS AND GIRLS CLUB OF SOUTH PARK INC

360 9TH STREET
FAIRPLAY,CO80440 		NONE   GENERAL OPERATING 7,500

NATIONAL JEWISH HEALTH

1400 JACKSON ST
DENVER,CO802062761 		NONE   GENERAL OPERATING 7,500

ITHAKA HOUSING

321 MESA RD
COLORADO SPGS,CO809051019 		NONE   GENERAL OPERATING 7,500

LA PUENTE HOME INC

911 STATE AVE
ALAMOSA,CO81101 		NONE   GENERAL OPERATING 10,000

POSADA

501 BELMONT AVE
PUEBLO,CO81004 		NONE   GENERAL OPERATING 10,000

THE STREET DOG COALITION

305 W MAGNOLIA ST 277
FORT COLLINS,CO80521 		NONE   GENERAL OPERATING 7,500

MT CARMEL VETERANS SERVICE CENTER

530 COMMUNICATION CIR
COLORADO SPGS,CO809051744 		NONE   GENERAL OPERATING 10,000

CAREERS IN CONSTRUCTION COLORADO

4585 HILTON PKWY STE 100
COLORADO SPGS,CO809073544 		NONE   GENERAL OPERATING 10,000

COLORADO MOUNTAIN CLUB

15605 W 32ND AVE
GOLDEN,CO80401 		NONE   GENERAL OPERATING 10,000

CATHOLIC CHARITIES OF DIOCESE OF PUEBLO

429 W 10TH ST
PUEBLO,CO81003 		NONE   GENERAL OPERATING 10,000

COLORADO OUTWARD BOUND SCHOOL

1930 HWY 300
LEADVILLE,CO80461 		NONE   GENERAL OPERATING 8,000

CREEDE REPERTORY THEATRE INC

P O BOX 269
CREEDE,CO81130 		NONE   GENERAL OPERATING 5,000

MOUNTAIN FAMILY HEALTH CENTERS

1905 BLAKE AVE STE 101
GLENWOOD SPGS,CO816014206 		NONE   GENERAL OPERATING 10,000

PIKES PEAK HOSPICE AND PALLIATIVE CARE I

8289 E LOWRY BLVD
DENVER,CO802307256 		NONE   GENERAL OPERATING 5,000

COLORADO THERAPEUTIC RIDING CENTER

11968 MINERAL RD
LONGMONT,CO805048402 		NONE   GENERAL OPERATING 15,000

ANCHOR CENTER FOR BLIND CHILDR

2550 ROSLYN ST
DENVER,CO80238 		NONE   GENERAL OPERATING 10,000

SENIOR SERVICES SOLUTIONS PLUS

321 N COTTONWOOD AVE
CANON CITY,CO812122508 		NONE   GENERAL OPERATING 8,000

PUEBLO CHILD ADVOCACY CENTER INC

301 W 13TH ST
PUEBLO,CO810032701 		NONE   GENERAL OPERATING 10,000

COMMUNITY PARTNERSHIP FOR CHILD DEVELOP

2330 ROBINSON ST
COLORADO SPRINGS,CO80904 		NONE   GENERAL OPERATING 5,000

MOUNTAIN RESOURCE CENTER INC

PO BOX 425
CONIFER,CO804330425 		NONE   GENERAL OPERATING 10,000

PROJECT ANGEL HEART

4950 WASHINGTON ST
DENVER,CO802162026 		NONE   GENERAL OPERATING 15,000

HABITAT FOR HUMANITY VAIL VALLEY

455 NOTTINGHAM RANCH RD
AVON,CO81620 		NONE   GENERAL OPERATING 15,000

CENTER FOR RESTORATIVE PROGRAMS

PO BOX 1775
ALAMOSA,CO811011775 		NONE   GENERAL OPERATING 7,500

BLUE SAGE CENTER FOR THE ARTS

PO BOX 700
PAONIA,CO81428 		NONE   GENERAL OPERATING 10,100

VAIL VALLEY CHARITABLE FUND INC

PO BOX 2307
EDWARDS,CO816322307 		NONE   GENERAL OPERATING 10,000

BRENT ELEY FOUNDATION

11980 E 16TH AVE
AURORA,CO800102704 		NONE   GENERAL OPERATING 10,000

CENTRO DE LA FAMILIA

1645 S MURRAY BLVD
COLORADO SPGS,CO809164502 		NONE   GENERAL OPERATING 10,000

DREAM CATCHER THERAPY CENTER INC

5814 HIGHWAY 348
OLATHE,CO814259714 		NONE   GENERAL OPERATING 5,000

THE PINHEAD INSTITUTE INC

PO BOX 2905
TELLURIDE,CO814352905 		NONE   GENERAL OPERATING 10,000

DENVER FOUNDATION

1009 N GRANT ST
DENVER,CO802032908 		NONE   GENERAL OPERATING 10,000

VALLEY INC

3900 HOLMES VALLEY RD
VERNON,FL324623741 		NONE   GENERAL OPERATING 12,500

HOPE HOUSE CANON CITY

909 MACON AVE
CANON CITY,CO812123403 		NONE   GENERAL OPERATING 10,000

PAONIA PLAYERS

PO BOX 1196
PAONIA,CO814281196 		NONE   GENERAL OPERATING 5,000
Total ................................. 3a 398,100
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 243,005  
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 ............ 		    18 504,350  
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) ..   747,355  
13Total. Add line 12, columns (b), (d), and (e)..................
13
747,355
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 1,341     1,341

TY 2025 InvestmentsCorpStockSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Name of Stock End of Year Book Value End of Year Fair Market Value
594918104 MICROSOFT CORP 46,544 539,236
867224107 SUNCOR ENERGY INC NE 67,602 131,838
02079K107 ALPHABET INC CL C 56,258 377,501
609207105 MONDELEZ INTERNATION 38,606 48,447
46625H100 JPMORGAN CHASE & CO 63,083 208,154
75513E101 RTX CORP 52,380 130,764
172967424 CITIGROUP INC. 69,596 151,114
532457108 ELI LILLY & CO COM 14,198 179,472
097023105 BOEING CO 96,143 137,220
09260D107 BLACKSTONE INC 43,174 107,281
G29183103 EATON CORP PLC 29,481 84,405
904767704 UNILEVER PLC - ADR    
11135F101 BROADCOM INC 55,154 347,484
91324P102 UNITEDHEALTH GROUP I    
56501R106 MANULIFE FINANCIAL C 40,482 98,355
87612E106 TARGET CORP    
037833100 APPLE INC 29,685 548,613
883556102 THERMO FISHER SCIENT 47,411 102,563
907818108 UNION PACIFIC CORP 27,219 72,866
58933Y105 MERCK & CO INC NEW    
00287Y109 ABBVIE INC 54,501 115,387
17275R102 CISCO SYSTEMS INC    
192446102 COGNIZANT TECH SOLUT    
89151E109 TOTALENERGIES SE -SP    
94106L109 WASTE MANAGEMENT INC 53,913 90,521
150870103 CELANESE CORP    
92826C839 VISA INC-CLASS A SHR 57,058 118,540
911312106 UNITED PARCEL SERVIC    
H2906T109 GARMIN LTD 25,331 56,392
30303M102 META PLATFORMS INC 81,627 236,312
7591EP100 REGIONS FINL CORP NE 47,110 66,151
437076102 HOME DEPOT INC 71,551 77,423
00724F101 ADOBE INC 85,571 61,948
007903107 ADVANCED MICRO DEVIC 39,486 99,584
580135101 MCDONALDS CORP 86,498 93,217
855244109 STARBUCKS CORP COM 66,567 56,000
023135106 AMAZON COM INC COM 258,845 309,299
032654105 ANALOG DEVICES INC 83,829 96,276
09290D101 BLACKROCK INC 32,070 98,471
43300A203 HILTON WORLDWIDE HOL 72,625 99,676
49338L103 KEYSIGHT TECHNOLOGIE 58,574 69,085
512807306 LAM RESH CORP 13,673 134,890
571748102 MARSH & MCLENNAN COS 96,540 83,298
G87052109 TE CONNECTIVITY PLC 34,945 83,496
002824100 ABBOTT LABS 85,413 79,058
084670702 BERKSHIRE HATHAWAY I 74,998 70,874
278865100 ECOLAB INC 52,537 51,454
620076307 MOTOROLA SOLUTIONS, 101,010 91,230
64110L106 NETFLIX INC 52,554 50,630
67066G104 NVIDIA CORP 102,134 156,660
79466L302 SALESFORCE INC 71,705 72,056
90353T100 UBER TECHNOLOGIES IN 85,247 88,737
904767803 UNILEVER PLC ADR 59,146 67,435
931142103 WALMART INC 54,689 71,971
98419M100 XYLEM INC/NY 83,583 89,334
F92124100 TOTALENERGIES SE 110,251 127,569
N07059210 ASML HOLDING NV-NY R 56,497 85,589

TY 2025 InvestmentsOtherSchedule2
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
03875R205 ARBITRAGE FUND CLASS AT COST 25,068 25,918
922908553 VANGUARD REAL ESTATE AT COST 80,525 210,252
46090F100 INVESCO OPTIMUM YIEL AT COST 140,226 116,931
693390304 PIMCO LOW DURATION F AT COST 120,906 110,956
464287465 ISHARES MSCI EAFE ET AT COST 64,623 108,130
464287176 ISHARES TIPS BOND ET AT COST 58,682 64,627
IWI993008 IRONWOOD INSTITUTION AT COST 200,000 214,036
742537236 PRINCIPAL GL MULT ST AT COST 50,116 51,348
78463X863 SPDR DJ WILSHIRE INT      
77958B402 T ROWE PRICE INST FL AT COST 110,000 110,004
00143W859 INV OPP DEVELOP MRKT      
693391559 PIMCO EMERG MKTS BD- AT COST 143,317 115,586
31641Q755 FIDELITY NEW MRKTS I AT COST 75,023 62,349
922031760 VANGUARD HIGH YIELD AT COST 199,995 186,595
464287234 ISHARES MSCI EMERGIN AT COST 39,192 65,214
922020706 VANGUARD S/T INFL PR AT COST 55,000 53,701
46434G103 ISHARES CORE MSCI EM      
922031810 VANGUARD INTERM TERM AT COST 421,010 372,240
19248X604 COHEN & STEERS PR SE AT COST 99,112 87,875
74440Y884 PGIM HIGH YIELD-Q 10 AT COST 280,000 245,126
464287655 ISHARES RUSSELL 2000 AT COST 170,090 259,206
693390593 PIMCO MODERATE DURAT AT COST 109,229 96,152
464287473 ISHARES RUSSELL MID- AT COST 63,180 220,038
27831R108 EV GLBL MACR ABS RTR AT COST 88,628 82,991
464287630 ISHARES RUSSELL 2000 AT COST 89,283 228,325
693390882 PIMCO INTL BND USD H AT COST 34,632 32,456
922908629 VANGUARD MIDCAP VIPE AT COST 245,476 390,926
589509207 MERGER FUND-INST #30 AT COST 75,000 74,956

TY 2025 OtherDecreasesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Description Amount
MUTUAL FUND TIMING ADJ 2,371
PY RETURN OF CAPITAL ADJUSTMENT 5,197
ROC ON CY SALES 61


TY 2025 OtherExpensesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT EXPENSES - ADR FEES 101 101   0


TY 2025 OtherIncreasesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Description Amount
RECOVERY OF GRANTS PAID 8,498
ROUNDING 19
TAX LOT BASIS ADJUSTMENT 2,873


TY 2025 OtherProfessionalFeesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
GRANT ADMIN FEE 4,660     4,660
INVESTMNT MNGMNT FEES (NON-DED 11,221 11,221    


TY 2025 TaxesSchedule
Name:
DUNCAN JOHN G TUW
EIN:
84-6016555
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 4,900 4,900   0
FEDERAL TAX PAYMENT - PRIOR YE 5,194 0   0
FEDERAL ESTIMATES - PRINCIPAL 9,028 0   0
FOREIGN TAXES ON NONQUALIFIED 292 292   0