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
GOULD TR FBO SB FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 64193
  Room/suite
City or town
EAGAN
State or province
MN
Country  
ZIP or foreign postal code
55164
A Employer identification number

95-6010025
B Telephone number (see instructions)

8882657962
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)$12,406,793J 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... 297,005 287,336  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,449,229
b Gross sales price for all assets on line 6a 8,248,983
7 Capital gain net income (from Part IV, line 2)... 2,449,229
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........ 2,746,234 2,736,565  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 104,437 93,993   10,444
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
800 0 0 800
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
12,640 6,930   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 117,877 100,923 0 11,244
25 Contributions, gifts, grants paid....... 505,970 505,970
26 Total expenses and disbursements. Add lines 24 and 25 ................ 623,847 100,923 0 517,214
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,122,387
b Net investment income (if negative, enter -0-) 2,635,642
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............. 4,664    
2 Savings and temporary cash investments......... 39,105 225,912 225,912
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)....... 2,524,618 Click to see attachment
List of Attached Documents:
// Content
3,625,578 		6,167,985
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).......... 4,650,146 Click to see attachment
List of Attached Documents:
// Content
5,483,525 		6,005,601
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
5,213 		Click to see attachment
List of Attached Documents:
// Content
7,295 		Click to see attachment
List of Attached Documents:
// Content
7,295
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,223,746 9,342,310 12,406,793
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........ 7,223,746 9,342,310
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)..... 7,223,746 9,342,310
30 Total liabilities and net assets/fund balances (see instructions). 7,223,746 9,342,310
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
7,223,746
2
Enter amount from Part I, line 27a .....................
2
2,122,387
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
9,346,133
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
3,823
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
9,342,310
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 1. STERICYCLE INC COMMON STOCK   1911-11-11 2025-01-09
b 222. AMGEN INC     2025-02-03
c 1274. BRISTOL MYERS SQUIBB CO     2025-02-03
d 912. MERCK CO INC     2025-02-03
e 539. ALPHABET INC CL A     2025-03-05
29. AMAZON.COM INC   2021-06-15 2025-03-05
709. AMERICAN INTERNATIONAL GROUP     2025-03-05
4. AMERICAN TOWER CORP   2022-04-25 2025-03-05
399. ANALOG DEVICES INC     2025-03-05
165. ELEVANCE HEALTH INC     2025-03-05
409. APPLE COMPUTER INC     2025-03-05
780. APPLIED MATERIALS INC   2016-01-08 2025-03-05
355. BERKSHIRE HATHAWAY INC CL B     2025-03-05
11. BOOKING HOLDINGS INC   2022-04-25 2025-03-05
1356. BOSTON SCIENTIFIC CORP     2025-03-05
880. C M S ENERGY CORP     2025-03-05
156. CHEVRONTEXACO CORP     2025-03-05
2010. CISCO SYSTEMS INC     2025-03-05
778. CITIGROUP INC     2025-03-05
865. COCA COLA COMPANY     2025-03-05
1089. COMCAST CORP CLASS A     2025-03-05
159. CONSTELLATION BRANDS INC A     2025-03-05
32. COSTCO WHSL CORP NEW COMMON STOCK   2015-08-31 2025-03-05
401. WALT DISNEY CO     2025-03-05
646. E O G RES INC     2025-03-05
196. ECOLAB INC     2025-03-05
318. ELECTRONIC ARTS INC COM     2025-03-05
403. EVERSOURCE ENERGY     2025-03-05
42. META PLATFORMS INC     2025-03-05
973.256 EMERALD GROWTH INSTITUTIONAL     2025-03-05
1100.098 EMERALD GROWTH INSTITUTIONAL     2025-03-05
509. FORTIVE CORP WI     2025-03-05
180. GOLDMAN SACHS GROUP INC     2025-03-05
105. GRAINGER W W INC     2025-03-05
560. HARTFORD FINANCIAL SERVICES GRP INC     2025-03-05
303. HONEYWELL INTL INC     2025-03-05
297. HUNT J B TRANS SVCS INC     2025-03-05
8249. ISHARES CORE U.S. AGGREGATE BOND ETF   2023-11-27 2025-03-05
11693. ISHARES CORE MSCI EAFE ETF   2023-11-27 2025-03-05
5261. ISHARES CORE MSCI EMERGING MKTS ETF   2023-11-27 2025-03-05
363. J P MORGAN CHASE & CO     2025-03-05
746. LAS VEGAS SANDS CORP     2025-03-05
100. LILLY ELI & CO     2025-03-05
329. LOWES CO INC     2025-03-05
176. MASTERCARD INC     2025-03-05
327. MCDONALDS CORP COM     2025-03-05
545. MICROSOFT CORP   2016-01-08 2025-03-05
620. MONDELEZ INTL INC CL A   2015-02-02 2025-03-05
162. NORTHROP GRUMMAN CORPORATION     2025-03-05
2922.133 NUVEEN REAL ESTATE SECUR R6     2025-03-05
1034.539 NUVEEN REAL ESTATE SECUR R6     2025-03-05
16572.059 NUVEEN REAL ESTATE SECUR R6     2025-03-05
50. O REILLY AUTOMOTIVE INC   2018-02-27 2025-03-05
383. PHILIP MORRIS INTL     2025-03-05
378. PROCTER GAMBLE CO     2025-03-05
395. PROLOGIS INC     2025-03-05
1531.399 PGIM TOTAL RETURN BOND CL R6     2025-03-05
211. STANLEY BLACK DECKER INC     2025-03-05
460. TJX COMPANIES INC     2025-03-05
404. T -MOBILE US INC     2025-03-05
296. UNITED PARCEL SERVICE INC CL B     2025-03-05
404. V F CORP COM     2025-03-05
188. VULCAN MATLS CO COM     2025-03-05
277. WEC ENERGY GROUP INC COM     2025-03-05
214. WORKDAY INC     2025-03-05
413. APTIV PLC COM SHS     2025-03-05
167. LINDE PLC     2025-03-05
684. MEDTRONIC PLC SHS     2025-03-05
683. ALCON INC     2025-03-05
437.764 BARON EMERGING MARKETS INSTITUTIONAL   2025-03-05 2025-05-29
651.591 CAUSEWAY EMERGING MARKETS INSTL   2025-03-05 2025-05-29
576.074 DODGE COX INTERNATIONAL STOCK FD I   2021-02-11 2025-05-29
1085. EXACT SCIENCES CORPORATION   2025-03-05 2025-05-29
286.259 FIDELITY INTERNATIONAL INDEX FUND   2025-03-05 2025-05-29
155. ISHARES CORE MSCI EMERGING MKTS ETF   2023-11-27 2025-05-29
43480.209 WESTERN ASSET INCOME IS   2025-03-05 2025-05-29
202.134 CLEARBRIDGE INTERNATIONAL GROWTH   2023-11-27 2025-05-29
11. ADOBE SYS INC   2025-03-05 2025-07-02
41. ADVANCED MICRO DEVICES INC COM   2022-04-25 2025-07-02
56. ALPHABET INC CL A   2015-01-13 2025-07-02
63. AMAZON.COM INC     2025-07-02
6. AMERICAN TOWER CORP   2022-04-25 2025-07-02
71. APPLE COMPUTER INC   2016-01-08 2025-07-02
73. BANK OF AMERICA CORP   2025-03-05 2025-07-02
2. BLACKROCK INC COM   2025-03-05 2025-07-02
39. COTERRA ENERGY INC   2025-03-05 2025-07-02
12. CHEVRONTEXACO CORP   1998-01-16 2025-07-02
51. COPART INC COM   2025-03-05 2025-07-02
3. COSTCO WHSL CORP NEW COMMON STOCK   2015-08-31 2025-07-02
27. DANAHER CORP   2025-03-05 2025-07-02
106. DRAFTKINGS INC NEW   2025-03-05 2025-07-02
2. EQUINIX INC   2025-03-05 2025-07-02
14. META PLATFORMS INC   2016-09-14 2025-07-02
538. EMERALD GROWTH INSTITUTIONAL   2023-01-23 2025-07-02
2. INTUIT COM   2025-03-05 2025-07-02
17. J P MORGAN CHASE & CO   1998-08-05 2025-07-02
12. L3HARRIS TECHNOLOGIES INC   2025-03-05 2025-07-02
14. LILLY ELI & CO   2018-08-10 2025-07-02
315. MARATHON PETROLEUM CORP   2025-03-05 2025-07-02
7. MASTERCARD INC   2016-01-08 2025-07-02
3. MERCADOLIBRE INC   2025-03-05 2025-07-02
33. MICROSOFT CORP     2025-07-02
34. MICRON TECHNOLOGY INC   2025-03-05 2025-07-02
28. NEXTERA ENERGY INC   2025-03-05 2025-07-02
138. NVIDIA CORP COM   2025-03-05 2025-07-02
320. PALO ALTO NETWORKS INC   2025-03-05 2025-07-02
1735. SCHLUMBERGER LTD   2025-03-05 2025-07-02
700. SCHWAB CHARLES CORP     2025-07-02
5. SERVICENOW INC   2025-03-05 2025-07-02
44. BLOCK INC   2025-03-05 2025-07-02
68. SYNOPSYS INC   2025-03-05 2025-07-02
11. TALEN ENERGY CORP COM   2025-03-05 2025-07-02
3. TRANSDIGM GROUP INC   2025-03-05 2025-07-02
73. UBER TECHNOLOGIES INC   2025-03-05 2025-07-02
6. UNITEDHEALTH GROUP INC COM   2025-03-05 2025-07-02
113. VEEVA SYSTEMS INC-CLASS A   2025-03-05 2025-07-02
403. VERTIV HOLDINGS CO   2025-03-05 2025-07-02
28. WAL MART STORES INC   2025-03-05 2025-07-02
11. EATON CORP PLC SHS   2025-03-05 2025-07-02
6. LINDE PLC   2018-10-31 2025-07-02
180. ADOBE SYS INC   2025-03-05 2025-09-04
80. ADOBE SYS INC     2025-09-04
279. APPLE COMPUTER INC   2016-01-08 2025-09-04
3852.376 BAIRD AGGREGATE BOND FD INSTL   2025-03-05 2025-09-04
490.883 BARON EMERGING MARKETS INSTITUTIONAL   2025-03-05 2025-09-04
1177.379 CAUSEWAY EMERGING MARKETS INSTL   2025-03-05 2025-09-04
519. DRAFTKINGS INC NEW   2025-03-05 2025-09-04
396.055 EMERALD GROWTH INSTITUTIONAL   2023-01-23 2025-09-04
40. ISHARES CORE MSCI EMERGING MKTS ETF   2023-11-27 2025-09-04
3148.76 PGIM TOTAL RETURN BOND CL R6     2025-09-04
82. TALEN ENERGY CORP COM   2025-03-05 2025-09-04
651. UBER TECHNOLOGIES INC   2025-03-05 2025-09-04
293. ADVANCED MICRO DEVICES INC COM     2025-10-13
2027. DRAFTKINGS INC NEW   2025-03-05 2025-10-13
341. MICRON TECHNOLOGY INC   2025-03-05 2025-10-13
241. NVIDIA CORP COM   2025-03-05 2025-10-13
1073. BLOCK INC   2025-03-05 2025-10-13
336. UBER TECHNOLOGIES INC   2025-03-05 2025-10-13
203. VERTIV HOLDINGS CO   2025-03-05 2025-10-13
1792. COPART INC COM     2025-12-19
1506. TRADE DESK INC THE CLASS A     2025-12-19
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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 81     81
b 63,554   43,532 20,022
c 75,274   75,018 256
d 90,138   51,950 38,188
e 93,111   22,371 70,740
6,038   4,907 1,131
57,400   41,743 15,657
830   1,049 -219
90,346   29,504 60,842
65,291   47,125 18,166
96,067   10,685 85,382
119,411   13,458 105,953
175,976   81,557 94,419
53,825   24,113 29,712
141,759   53,798 87,961
63,355   53,329 10,026
23,202   6,292 16,910
127,818   62,831 64,987
56,248   39,460 16,788
60,760   36,105 24,655
38,526   44,037 -5,511
27,502   21,508 5,994
33,270   4,454 28,816
43,647   17,219 26,428
77,557   44,638 32,919
52,796   22,234 30,562
42,550   40,671 1,879
23,698   37,000 -13,302
27,333   6,580 20,753
23,086   24,840 -1,754
26,094   26,154 -60
39,572   24,730 14,842
105,422   37,394 68,028
103,307   48,199 55,108
65,569   28,095 37,474
63,005   42,442 20,563
46,852   24,142 22,710
813,372   787,485 25,887
908,527   787,728 120,799
287,716   259,795 27,921
90,863   13,746 77,117
34,214   39,389 -5,175
91,625   24,114 67,511
79,019   27,982 51,037
97,784   16,226 81,558
100,054   64,108 35,946
216,178   28,623 187,555
40,835   21,542 19,293
77,040   41,338 35,702
46,550   44,263 2,287
16,480   16,520 -40
263,993   342,905 -78,912
67,509   12,247 55,262
58,821   30,311 28,510
66,223   34,487 31,736
48,735   51,509 -2,774
18,438   22,860 -4,422
17,589   34,374 -16,785
56,130   18,630 37,500
105,529   51,197 54,332
35,091   27,615 7,476
9,258   32,834 -23,576
44,831   28,086 16,745
28,862   15,286 13,576
55,046   31,092 23,954
26,606   28,418 -1,812
77,953   32,621 45,332
64,279   60,053 4,226
64,309   44,340 19,969
7,315   6,943 372
7,708   7,304 404
34,150   26,597 7,553
62,685   52,311 10,374
15,970   15,205 765
8,877   7,654 1,223
217,836   219,810 -1,974
14,966   11,995 2,971
4,114   4,949 -835
5,683   3,690 1,993
9,999   1,406 8,593
13,875   10,621 3,254
1,346   1,573 -227
15,020   1,750 13,270
3,536   3,066 470
2,124   1,919 205
972   1,006 -34
1,766   465 1,301
2,502   2,775 -273
2,947   418 2,529
5,461   5,667 -206
4,351   4,560 -209
1,577   1,833 -256
10,024   1,789 8,235
14,623   12,648 1,975
1,547   1,217 330
4,947   641 4,306
3,032   2,517 515
10,881   1,441 9,440
54,476   42,193 12,283
3,910   643 3,267
7,384   6,292 1,092
16,177   1,618 14,559
4,153   3,182 971
2,051   1,955 96
21,656   16,183 5,473
62,738   58,800 3,938
61,653   67,737 -6,084
63,689   39,713 23,976
5,019   4,575 444
3,050   2,668 382
35,433   30,142 5,291
3,044   2,138 906
4,536   4,102 434
6,719   5,503 1,216
1,876   2,848 -972
31,845   24,602 7,243
49,914   35,091 14,823
2,737   2,672 65
3,917   3,115 802
2,862   981 1,881
61,295   80,984 -19,689
27,242   9,893 17,349
66,370   6,875 59,495
38,216   37,830 386
8,954   7,785 1,169
15,506   13,198 2,308
24,092   22,325 1,767
10,987   9,311 1,676
2,474   1,975 499
38,226   46,206 -7,980
31,346   15,935 15,411
60,125   49,078 11,047
63,837   18,732 45,105
67,514   87,194 -19,680
65,346   31,909 33,437
45,566   28,261 17,305
80,920   65,072 15,848
31,780   25,331 6,449
36,708   17,676 19,032
70,373   94,559 -24,186
56,149   94,214 -38,065
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
      97,555
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       81
b       20,022
c       256
d       38,188
e       70,740
      1,131
      15,657
      -219
      60,842
      18,166
      85,382
      105,953
      94,419
      29,712
      87,961
      10,026
      16,910
      64,987
      16,788
      24,655
      -5,511
      5,994
      28,816
      26,428
      32,919
      30,562
      1,879
      -13,302
      20,753
      -1,754
      -60
      14,842
      68,028
      55,108
      37,474
      20,563
      22,710
      25,887
      120,799
      27,921
      77,117
      -5,175
      67,511
      51,037
      81,558
      35,946
      187,555
      19,293
      35,702
      2,287
      -40
      -78,912
      55,262
      28,510
      31,736
      -2,774
      -4,422
      -16,785
      37,500
      54,332
      7,476
      -23,576
      16,745
      13,576
      23,954
      -1,812
      45,332
      4,226
      19,969
      372
      404
      7,553
      10,374
      765
      1,223
      -1,974
      2,971
      -835
      1,993
      8,593
      3,254
      -227
      13,270
      470
      205
      -34
      1,301
      -273
      2,529
      -206
      -209
      -256
      8,235
      1,975
      330
      4,306
      515
      9,440
      12,283
      3,267
      1,092
      14,559
      971
      96
      5,473
      3,938
      -6,084
      23,976
      444
      382
      5,291
      906
      434
      1,216
      -972
      7,243
      14,823
      65
      802
      1,881
      -19,689
      17,349
      59,495
      386
      1,169
      2,308
      1,767
      1,676
      499
      -7,980
      15,411
      11,047
      45,105
      -19,680
      33,437
      17,305
      15,848
      6,449
      19,032
      -24,186
      -38,065
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2,449,229
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 36,635
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 36,635
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 36,635
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 3,832
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 3,832
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 32,803
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax0 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)
CA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website address  
14
The books are in care ofUS BANK NA Telephone no. (888) 265-7962

Located at60 LIVINGSTON AVESAINT PAULMN ZIP+455107
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
US BANK N A TRUSTEE
1 		104,437    
PO BOX 64193
EAGAN,MN55164
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
11,537,910
b
Average of monthly cash balances.......................
1b
153,228
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
11,691,138
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
11,691,138
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
175,367
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
11,515,771
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
575,789
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
575,789
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
36,635
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
36,635
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
539,154
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
539,154
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
539,154
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
517,214
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
517,214
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 7 539,154
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 105,055
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: $ 517,214
a Applied to 2024, but not more than line 2a 105,055
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..... 412,159
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 .......... 		126,995
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 .... 0
b Excess from 2022 .... 0
c Excess from 2023 .... 0
d Excess from 2024 .... 0
e Excess from 2025 .... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

SANTA BARBARA FOUNDATION

1111 CHAPALA STREET SUITE 200
SANTA BARBARA,CA931013100 		NONE   GENERAL OPERATING 505,970
Total ................................. 3a 505,970
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 ....     14 297,005  
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 2,449,229  
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) ..   2,746,234  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,746,234
(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:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 800     800

TY 2025 InvestmentsCorpStockSchedule
Name:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Name of Stock End of Year Book Value End of Year Fair Market Value
00724F101 ADOBE SYS INC    
007903107 ADVANCED MICRO DEVIC 61,104 156,123
02079K305 ALPHABET INC CL A 37,141 462,927
023135106 AMAZON.COM INC 151,163 352,001
026874784 AMERICAN INTERNATION    
03027X100 AMERICAN TOWER CORP 27,196 44,595
031162100 AMGEN INC    
032654105 ANALOG DEVICES INC    
036752103 ELEVANCE HEALTH INC    
037833100 APPLE INC COM 28,133 373,808
038222105 APPLIED MATERIALS IN    
084670702 BERKSHIRE HATHAWAY I    
09857L108 BOOKING HOLDINGS INC    
101137107 BOSTON SCIENTIFIC CO    
110122108 BRISTOL MYERS SQUIBB    
125896100 C M S ENERGY CORP    
166764100 CHEVRON CORP COM 14,445 56,849
17275R102 CISCO SYSTEMS INC    
172967424 CITIGROUP INC    
191216100 COCA COLA COMPANY    
20030N101 COMCAST CORP CLASS A    
21036P108 CONSTELLATION BRANDS    
22160K105 COSTCO WHSL CORP 67,460 100,031
254687106 WALT DISNEY CO    
26875P101 E O G RES INC    
278865100 ECOLAB INC    
285512109 ELECTRONIC ARTS INC    
30040W108 EVERSOURCE ENERGY    
30303M102 META PLATFORMS INC 95,769 272,617
34959J108 FORTIVE CORP WI    
38141G104 GOLDMAN SACHS GROUP    
384802104 GRAINGER W W INC    
416515104 HARTFORD FINANCIAL S    
438516106 HONEYWELL INTL INC    
445658107 HUNT J B TRANS SVCS    
46625H100 JPMORGAN CHASE CO 20,033 171,099
517834107 LAS VEGAS SANDS CORP    
532457108 ELI LILLY CO 18,008 188,069
548661107 LOWES CO INC    
57636Q104 MASTERCARD INC 23,328 58,801
580135101 MCDONALDS CORP COM    
58933Y105 MERCK AND CO INC    
594918104 MICROSOFT CORP COM 91,647 444,447
609207105 MONDELEZ INTL INC CL    
666807102 NORTHROP GRUMMAN COR    
67103H107 O REILLY AUTOMOTIVE    
718172109 PHILIP MORRIS INTL    
742718109 PROCTER GAMBLE CO    
74340W103 PROLOGIS INC COM    
808513105 SCHWAB CHARLES CORP 45,528 94,815
854502101 STANLEY BLACK DECKER    
872540109 TJX COMPANIES INC    
872590104 T -MOBILE US INC    
911312106 UNITED PARCEL SERVIC    
91324P102 UNITEDHEALTH GROUP I 139,576 135,345
918204108 V F CORP COM    
929160109 VULCAN MATLS CO COM    
92939U106 WEC ENERGY GROUP INC    
98138H101 WORKDAY INC    
G54950103 LINDE PLC 20,230 55,431
G5960L103 MEDTRONIC PLC    
H01301128 ALCON INC    
G3265R107 APTIV PLC COM SHS    
05722G100 BAKER HUGHES COMPANY 59,081 68,082
060505104 BANK OF AMERICA CORP 106,415 139,370
09290D101 BLACKROCK INC COM 81,541 90,979
127097103 COTERRA ENERGY INC 42,058 42,928
14040H105 CAPITAL ONE FINL COR 89,930 105,427
16411R208 CHENIERE ENERGY INC 56,850 46,070
169656105 CHIPOTLE MEXICAN GRI 88,355 79,291
235851102 DANAHER CORP 143,355 156,352
29444U700 EQUINIX INC 57,745 48,268
437076102 HOME DEPOT INC 171,142 151,748
461202103 INTUIT COM 102,421 105,987
46120E602 INTUITIVE SURGICAL I 81,388 90,618
502431109 L3HARRIS TECHNOLOGIE 53,280 74,567
565394103 MAPLEBEAR INC COM 60,042 61,038
58733R102 MERCADOLIBRE INC 96,485 92,656
595112103 MICRON TECHNOLOGY IN 43,606 133,001
64110L106 NETFLIX.COM INC 92,162 68,445
65339F101 NEXTERA ENERGY INC 65,852 75,704
67066G104 NVIDIA CORP COM 339,020 539,172
679295105 OKTA INC 130,268 117,599
697435105 PALO ALTO NETWORKS I 100,694 100,942
78409V104 S P GLOBAL INC COM 67,836 67,937
81762P102 SERVICENOW INC 163,225 137,105
871607107 SYNOPSYS INC 87,766 93,005
87422Q109 TALEN ENERGY CORP CO 35,757 68,971
893641100 TRANSDIGM GROUP INC 77,933 75,801
90353T100 UBER TECHNOLOGIES IN 55,410 60,057
922475108 VEEVA SYSTEMS INC-CL 33,311 34,154
92537N108 VERTIV HOLDINGS CO 62,432 116,161
931142103 WALMART INC COM 64,136 74,868
G29183103 EATON CORP PLC SHS 75,321 84,724

TY 2025 InvestmentsOtherSchedule2
Name:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
04314H568 ARTISAN HIGH INCOME AT COST 539,335 566,037
256206103 DODGE COX INTERNATIO AT COST 505,465 687,683
317609253 EMERALD GROWTH INSTI AT COST 187,168 235,267
464287226 ISHARES CORE U.S. AG      
46432F842 ISHARES CORE MSCI EA      
46434G103 ISHARES CORE MSCI EM AT COST 223,401 304,103
670678119 NUVEEN REAL ESTATE S      
74440B884 PGIM TOTAL RETURN BO AT COST 534,929 482,687
861728400 STONE RIDGE HY REINS AT COST 349,461 336,289
52471E258 CLEARBRIDGE INTERNAT AT COST 576,341 637,202
057071854 BAIRD AGGREGATE BOND AT COST 438,370 445,957
06828M876 BARON EMERGING MARKE AT COST 242,596 292,615
149498107 CAUSEWAY EMERGING MA AT COST 240,671 309,190
24610B859 NOMURA SMALL CAP COR AT COST 192,133 202,201
315911727 FIDELITY INTERNATION AT COST 573,449 656,852
52470V822 WESTERN ASSET INCOME AT COST 215,829 216,256
808524847 SCHWAB US REIT ETF AT COST 466,643 442,680
904504842 UNDISCOVERED MANAGER AT COST 197,734 190,582

TY 2025 OtherAssetsSchedule
Name:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
000000000 MISCELLANEOUS ENTRY 5,213 7,295 7,295


TY 2025 OtherDecreasesSchedule
Name:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Description Amount
ROC ON CY SALES 1,323
PY RETURN OF CAPITAL ADJUSTMENT 42
COST BASIS ADJUSTMENT 2,458


TY 2025 TaxesSchedule
Name:
GOULD TR FBO SB FOUNDATION
EIN:
95-6010025
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 3,945 3,945   0
FEDERAL TAX PAYMENT - PRIOR YE 1,878 0   0
FEDERAL ESTIMATES - PRINCIPAL 3,832 0   0
FOREIGN TAXES ON NONQUALIFIED 2,985 2,985   0