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
LOCKHART VAUGHAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 1600 WEST 41ST STREET 700
  Room/suite
City or town
BALTIMORE
State or province
MD
Country  
ZIP or foreign postal code
21211
A Employer identification number

52-1693184
B Telephone number (see instructions)

4108379400
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)$50,264,130J 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) 1,602,628
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,172,495 1,172,495  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,493,447
b Gross sales price for all assets on line 6a 10,888,432
7 Capital gain net income (from Part IV, line 2)... 2,574,774
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25,708 -429  
12 Total. Add lines 1 through 11........ 4,294,278 3,746,840  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 92,452 0   92,452
14 Other employee salaries and wages...... 74,216 0   74,216
15 Pension plans, employee benefits....... 1,961 0   1,961
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
680 0   680
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
16,510 8,255   8,255
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
112,319 62,319   50,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
77,264 0   13,293
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
35,600 5,357   28,811
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 411,002 75,931   269,668
25 Contributions, gifts, grants paid....... 2,711,200 2,711,200
26 Total expenses and disbursements. Add lines 24 and 25 ................ 3,122,202 75,931   2,980,868
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,172,076
b Net investment income (if negative, enter -0-) 3,670,909
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 120,821 164,423 164,423
2 Savings and temporary cash investments......... 583,241 1,581,111 1,581,111
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 2,388,889 Click to see attachment
List of Attached Documents:
// Content
2,398,399 		2,422,966
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 34,358,643 Click to see attachment
List of Attached Documents:
// Content
34,482,378 		46,095,630
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) 37,451,594 38,626,311 50,264,130
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 37,451,594 38,626,311
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 37,451,594 38,626,311
30 Total liabilities and net assets/fund balances (see instructions). 37,451,594 38,626,311
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
37,451,594
2
Enter amount from Part I, line 27a .....................
2
1,172,076
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
2,641
4
Add lines 1, 2, and 3 ..........................
4
38,626,311
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
38,626,311
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 PUBLICLY TRADED SECURITIES - LONG TERM      
b CAPITAL GAINS DIVIDENDS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 10,457,515   8,313,658 2,143,857
b 430,917     430,917
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       2,143,857
b       430,917
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,574,774
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 51,026
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 51,026
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 51,026
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 37,760
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 37,760
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 371
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 13,637
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
MD
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 ofKATE RAWSON POWELL Telephone no. (410) 837-9400

Located at1600 WEST 41ST STREET 700BALTIMOREMD ZIP+421211
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
SUSAN BAKER POWELL TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
JULIA B SCHNUPP TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
BENJAMIN M BAKER III TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
JULIA P O'BRIEN TRUSTEE
1.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
BRENTNALL M POWELL TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
KEVIN A SCHNUPP TRUSTEE
1.50 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
DAVID B POWELL PRESIDENT/TRUSTEE
2.00 		0 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
KATE RAWSON POWELL SECRETARY/TREASURER/ED
24.00 		92,452 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
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
ROCHEL ROBBINS EXECUTIVE ASSISTANT
20.00 		74,216 0 0
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
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
HWA FINANCIAL GROUP (CHARLES SCHWAB) INVESTMENT MANAGER 62,319
3448 ELLICOTT CENTER DRIVE STE 101
ELLICOTT CITY,MD21043
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
46,472,476
b
Average of monthly cash balances.......................
1b
430,885
c
Fair market value of all other assets (see instructions)................
1c
304,177
d
Total (add lines 1a, 1b, and 1c).......................
1d
47,207,538
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
47,207,538
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
708,113
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
46,499,425
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
2,324,971
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
2,324,971
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
51,026
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
51,026
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,273,945
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,273,945
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
2,273,945
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
2,980,868
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,980,868
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 2,273,945
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 82,340
b From 2021...... 181,981
c From 2022...... 190,275
d From 2023...... 35,044
e From 2024...... 914,563
f Total of lines 3a through e ........ 1,404,203
4Qualifying distributions for 2025 from Part
XI, line 4: $ 2,980,868
a Applied to 2024, but not more than line 2a 0
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..... 2,273,945
e Remaining amount distributed out of corpus 706,923
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 2,111,126
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 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		82,340
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		2,028,786
10 Analysis of line 9:
a Excess from 2021 .... 181,981
b Excess from 2022 .... 190,275
c Excess from 2023 .... 35,044
d Excess from 2024 .... 914,563
e Excess from 2025 .... 706,923
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
KATE RAWSON POWELL
1600 WEST 41ST STREET SUITE 700
BALTIMORE,MD21211
(410) 837-9400
bThe form in which applications should be submitted and information and materials they should include:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
cAny submission deadlines:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
PLEASE GO TO OUR WEBSITE, LOCKHARTV.ORG.
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

29TH STREET COMMUNITY CENTER

300 E 29TH STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT SUMMER AND AFTER-SCHOOL PROGRAMS 20,000

ARCHDIOCESE OF BALTIMORE

320 CATHEDRAL STREET
BALTIMORE,MD21201 		    EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS 60,000

ARTS EDUCATION IN MARYLAND SCHOOLS ALLIANCE

190 W OSTEND STREET
BALTIMORE,MD21230 		    EDUCATION: BALTIMORE CHILDREN WILL HAVE ACCESS TO A QUALITY PUBLIC EDUCATION IN PRE-K -8TH GRADE 15,000

ARTS EVERY DAY

1505 EUTAW PLACE SUITE 204
BALTIMORE,MD21217 		    EDUCATION: BALTIMORE CHILDREN WILL HAVE ACCESS TO A QUALITY PUBLIC EDUCATION IN PRE-K - 8TH GRADE 20,000

ARTS FOR LEARNING MARYLAND

21 E NORTH AVENUE
BALTIMORE,MD21202 		    EDUCATION: SUMMER ARTS FOR LEARNING ACADEMY 15,000

AUDUBON MID-ATLANTIC

2901 E BALTIMORE STREET
BALTIMORE,MD21224 		    ENVIRONMENT: COMMUNITY-CENTERED FOREST RESTORATION IN TWO BALTIMORE CITY PARKS 50,000

BALTIMORE BANNER

621 E PRATT STREET
BALTIMORE,MD21202 		    ENVIRONMENT: SUPPORT ENVIRONMENTAL JOURNALISM 30,000

BALTIMORE CURRICULUM PROJECT

2707 E FAYETTE STREET
BALTIMORE,MD21224 		    EDUCATION : WOLFE STREET ACADEMY 15,000

BALTIMORE FAMILY ALLIANCE

1100 WICOMICO STREET
BALTIMORE,MD21230 		    COMMUNITY DEVELOPMENT: BALTIMORE WILL BE A CITY WITH VIBRANT NEIGHBORHOODS. 15,000

BALTIMORE SCHOOL FOR THE ARTS FOUNDATION INC

712 CATHEDRAL STREET
BALTIMORE,MD21201 		    EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER SCHOOL PROGRAMS 25,000

BALTIMORE SYMPHONY ORCHESTRA

1212 CATHERDRAL STREET
BALTIMORE,MD21201 		    EDUCATION: ORCHKIDS. SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS 40,000

BALTIMORE TREE TRUST INC

PO BOX 50188
BALTIMORE,MD21211 		    ENVIRONMENT: SUPPORT GREENING EFFORTS THAT ARE VISIBLE TO THE WIDER COMMUNITY 30,000

BLUE WATER BALTIMORE

1801 EAST OLIVER STREET
BALTIMORE,MD21213 		    ENVIRONMENT: SUPPORT EFFORTS TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHEDS IN BALTIMORE 50,000

BRIDGES BALTIMORE INC

PO BOX 27805
BALTIMORE,MD21285 		    EDUCATION : SUB SUMMER LEARNING 40,000

BUILDING STEPS

PO BOX 1393
BROOKLANDVILLE,MD21022 		    EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN PUBLIC SCHOOLS 30,000

CALVERT SCHOOL INC

105 TUSCANY ROAD
BALTIMORE,MD21210 		    EDUCATION: GENERAL OPERATING 12,000

CENTER FOR CLIMATE CHANGE COMMUNICATION

4000 UNIVERSITY DRIVE
FAIRFAX,VA22030 		    ENVIRONMENT 50,000

CENTRAL MARYLAND TRANSPORTATION ALLIANCE

PO BOX 37422
BALTIMORE,MD21297 		    COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR NEIGHBORHOOD REVITALIZATION EFFORTS 25,000

CHESAPEAKE BAY FOUNDATION

6 HERNDON AVENUE
ANNAPOLIS,MD21403 		    ENVIRONMENT: SUPPORT EFFORTS IN BALTIMORE TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHEDS 50,000

CHILDREN'S SCHOLARSHIP FUND BALTIMORE

PO BOX 5282
BALTIMORE,MD21224 		    EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS 50,000

CITY TEACHING ALLIANCE

8 MARKET PLACE SUITE 410
BALTIMORE,MD21202 		    EDUCATION: SUPPORT THE RECRUITMENT, TRAINING AND MENTORING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS 40,000

CODE IN THE SCHOOLS

21 E NORTH AVENUE
BALTIMORE,MD21202 		    EDUCATION: SUPPORT COST-EFFECTIVE AFTER SCHOOL PROGRAMS 20,000

COLLEGEBOUND FOUNDATION

2507 N HOWARD STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN BALTIMORES PUBLIC SCHOOLS 35,000

COMMUNITY LAW CENTER

3355 KESWICK ROAD
BALTIMORE,MD21211 		    COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 40,000

CONNECTICUT FARMLAND TRUST

77 BUCKINGHAM STREET
HARTFORD,CT06106 		    ENVIRONMENT 12,000

CONSERVATION LAW FOUNDATION

62 SUMMER STREET
BOSTON,MA02110 		    ENVIRONMENT 50,000

CRISTO REY JESUIT HIGH SCHOOL

420 S CHESTER STREET
BALTIMORE,MD21231 		    EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS 50,000

DERRYFIELD SCHOOL

2108 RIVER ROAD
MANCHESTER,NH03104 		    EDUCATION: ANNUAL FUND 4,000

DESIGN CHALLENGE NETWORK

PO BOX 556
PORTSMOUTH,NH03802 		    EDUCATION 8,000

DUQUESNE UNIVERSITY

600 FORBES AVENUE
PITTSBURGH,PA15282 		    OTHER 12,000

EARTHJUSTICE

180 STEUART ST 194330
SAN FRANCISCO,CA94105 		    ENVIRONMENT 75,000

EMMANUEL EPISCOPAL CHURCH

811 CATHEDRAL STREET
BALTIMORE,MD21201 		    OTHER 24,000

ENOCH PRATT FREE LIBRARY

400 CATHEDRAL STREET
BALTIMORE,MD21201 		    EDUCATION: EMERGENT LITERACY PROGRAM. SUPPORT CHILDHOOD LITERACY IN THE VERY EARLIEST YEARS. 25,000

ENOCH PRATT FREE LIBRARY

400 CATHEDRAL STREET
BALTIMORE,MD21201 		    EDUCATION: BRANCH IMPROVEMENT FUND 35,000

ENVIRONMENTAL DEFENSE FUND

PO BOX 98051
WASHINGTON,DC20090 		    ENVIRONMENT: ORPHANED OIL WELLS 75,000

FRIENDS OF PATTERSON PARK

27 S PATTERSON PARK AVE
BALTIMORE,MD21231 		    COMMUNITY DEVELOPMENT: BALTIMORE WILL BE A CITY OF VIBRANT NEIGHBORHOODS 10,000

FRIENDS OF THE JONES FALLS

25 E 20TH STREET
BALTIMORE,MD21218 		    ENVIRONMENT: SUPPORT EFFORTS IN BALTIMORE TO IMPROVE THE CHESAPEAKE BAY AND ITS WATERSHEDS 25,000

FUND FOR EDUCATIONAL EXCELLENCE INC

800 N CHARLES STREET SUITE 400
BALTIMORE,MD21201 		    EDUCATION: TRANSPORTATION PROJECT 20,000

FUND FOR EDUCATIONAL EXCELLENCE INC

800 N CHARLES STREET SUITE 400
BALTIMORE,MD21201 		    BALTIMORE CITY PUBLIC SCHHOLS - ENVIRONMENT (SUB CLIMATE CHANGE): GREENING GROUNDS- LEAF BLOWERS 15,678

GARWYN OAKS NORTHWEST HOUSING RESOURCE CENTER INC

2300 GARRISON BLVD
BALTIMORE,MD21216 		    COMMUNITY DEVELOPMENT: SUPPORT COMMUNITY ORGANIZATIONS THAT HAVE A RECORD OF ATTRACTING FINANCIAL INVESTMENTS FOR THEIR NEIGHBORHOOD REVITALIZATION EFFORTS. 20,000

GENERATION180

PO BOX 483
CHARLOTTESVILLE,VA22902 		    ENVIRONMENT: ELECTRIFY OUR SCHOOLS MD 50,000

HELPING OPPRESSED PEOPLE EXCEL HOPE BALTIMORE

811 CATHEDRAL STREET
BALTIMORE,MD21201 		    OTHER 25,000

IMENTOR

8 MARKET PLACE SUITE 300
BALTIMORE,MD21202 		    EDUCATION: SUPPORT COST-EFFECTIVE AFTER SCHOOL PROGRAMS 25,000

INGENUITY PROJECT INC

1400 COLD SPRING LANE
BALTIMORE,MD21209 		    EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN BALTIMORE'S PUBLIC SCHOOLS. 35,000

KIPP BALTIMORE

2000 EDGEWOOD STREET
BALTIMORE,MD21216 		    EDUCATION: SUPPORT PROGRAMS THAT CHALLENGE MOTIVATED STUDENTS IN PUBLIC SCHOOLS 40,000

LET'S GO BOYS AND GIRLS INC

2601 N HOWARD STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS 30,000

LEVELING THE PLAYING FIELD INC

1140 CONNECTICUT AVENUE NW SUITE
1200
WASHINGTON,DC20036 		    EDUCATION: SUPPORT COST-EFFECTIVE AFTER-SCHOOL PROGRAMS 25,000

LIVING CLASSROOMS FOUNDATION

1417 THAMES STREET
BALTIMORE,MD21231 		    EDUCATION: EARLY CHILDHOOD EDUCATION PROGRAM 25,000

MARYLAND ALLIANCE OF PUBLIC CHARTER SCHOOLS

1500 UNION AVENUE
BALTIMORE,MD21211 		    EDUCATION: PROMOTE SCHOOL CHOICE FOR BALTIMORE STUDENTS AND PARENTS 30,000

MARYLAND CLIMATE PARTNERS

1600 WEST 41ST STREET
BALTIMORE,MD21211 		    ENVIRONMENT : SUB GENERAL FUND 50,000

MARYLAND NONPROFITS

1500 UNION AVENUE
BALTIMORE,MD21211 		    COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 15,000

MIDDLE GRADES PARTNERSHIP

1500 UNION AVE 1320
BALTIMORE,MD21211 		    EDUCATION : SUB SUMMER LEARNING 45,000

MODERN CLASSROOMS PROJECT INC

15 14TH STREET SE
WASHINGTON,DC20003 		    EDUCATION: SUPPORT THE RECRUITMENT, TRAINING, AND MENTORING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS 50,000

MOTHER SETON ACADEMY

2215 GREENMOUNT AVENUE
BALTIMORE,MD21218 		    EDUCATION: PROMOTE SCHOOL CHOICE FOR STUDENTS & FAMILIES 20,000

NATURE SACRED

105 ANNAPOLIS STREET SUITE D
ANNAPOLIS,MD21401 		    ENVIRONMENT: SUPPORT GREENING EFFORTS THAT ARE VISIBLE TO THE WIDER COMMUNITY 25,000

NEIGHBORHOOD DESIGN CENTER INC

120 W NORTH AVENUE
BALTIMORE,MD21201 		    COMMUNITY DEVELOPMENT: SUPPORT ORGANIZATIONS THAT PROVIDE TECHNICAL ASSISTANCE AND ENHANCE THE CAPABILITIES OF GROUPS THAT ARE WORKING FOR COMMUNITY DEVELOPMENT IN BALTIMORE. 22,000

NEXT ONE UP

PO BOX 22503
BALTIMORE,MD21203 		    EDUCATION: SUPPORT COST-EFFECTIVE AFTER-SCHOOL PROGRAMS 25,000

NO BOUNDARIES COALITION INC

PO BOX 12825
BALTIMORE,MD21217 		    COMMUNITY DEVELOPMENT: BALTIMORE WILL BE A CITY OF VIBRANT NEIGHBORHOODS 20,000

PARITY BALTIMORE INCORPORATED

640 N CARROLLTON AVENUE
BALTIMORE,MD21217 		    EDUCATION: VACANT HOUSING INITIATIVE 50,000

PARK SCHOOL OF BALTIMORE INC

2425 OLD COURT ROAD
BALTIMORE,MD21208 		    ENVIRONMENT: SOLAR ARRAY 176,522

PORT DISCOVERY CHILDREN'S MUSEUM

35 MARKET PLACE
BALTIMORE,MD21202 		    EDUCATION: AT PLAY LEARNING INSTITUTE 20,000

RAILS TO TRAILS CONSERVANCY

2445 M STREET NW SUITE 650
WASHINGTON,DC20037 		    COMMUNITY DEVELOPMENT: ADVANCEMENT OF CHINQUAPIN RUN PARK TRAIL AND BALTIMORE GREENWAY 25,000

RE-BUILD METRO INC

1129 NORTH CAROLINE STREET
BALTIMORE,MD21231 		    EDUCATION: VACANT HOUSING INITIATIVE 50,000

SAVE THE SOUNDINC

127 CHURCH STREET 2ND FLOOR
NEW HAVEN,CT06510 		    ENVIRONMENT 25,000

SIERRA CLUB FOUNDATION

PO BOX 270595
WEST HARTFORD,CT06127 		    ENVIRONMENT 35,000

SPRINGBOARD COLLABORATIVE

1500 JOHN F KENNEDY BLVD SUITE 1160
PHILADELPHIA,PA19102 		    EDUCATION: SUB SUMMER LEARNING: LITERACY INTERVENTION FOR BALTIMORE CITY SCHOOL CHILDREN 25,000

ST JAMES DEVELOPMENT CORPORATION INC

1020 W LAFAYETTE AVE
BALTIMORE,MD21217 		    ENVIRONMENT: SUPPORT GREENING EFFORTS IN BALTIMORE THAT ARE VISIBLE TO THE WIDER COMMUNITY 50,000

ST VINCENT DE PAUL OF BALTIMORE

2305 N CHARLES STREET
BALTIMORE,MD21218 		    EDUCATION: SUB SUMMER LEARNING: CAMP ST. VINCENT 15,000

STRONG SCHOOLS MARYLAND

800 N CHARLES STREET SUITE 400
BALTIMORE,MD21201 		    EDUCATION: BALTIMORE CHILDREN WILL HAVE ACCESS TO A QUALITY PUBLICEDUCATION IN PRE-K - 8TH GRADE 50,000

SUCCESS FOR ALL FOUNDATION

300 E JOPPA ROAD SUITE 500
TOWSON,MD21286 		    EDUCATION: LITERACY INTERVENTION FOR BALTIMORE CITY SCHOOL CHILDREN 35,000

TEACH FOR AMERICA - BALTIMORE

2601 N HOWARD STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT THE RECRUITMENT, TRAINING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS 60,000

THREAD INC

PO BOX 1584
BALTIMORE,MD21203 		    EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS 75,000

TNTP INC - BALTIMORE CITY TEACHING RESIDENCY

500 7TH AVENUE 8TH FLOOR
NEW YORK,NY10018 		    EDUCATION: SUPPORT THE RECRUITMENT AND TRAINING OF ABLE INSTRUCTIONAL LEADERS FOR PUBLIC SCHOOLS 40,000

UNION OF CONCERNED SCIENTISTS

1825 K STREET NW
WASHINGTON,DC20006 		    ENVIRONMENT 35,000

UNIVERSITY OF MARYLAND FOUNDATION INC

1000 HILLTOP ROAD ADMIN 714
BALTIMORE,MD21250 		    EDUCATION: SUB SUMMER LEARNING: REACH TOGETHER MATH SUMMER PROGRAM 25,000

VILLAGE LEARNING PLACE

2521 SAINT PAUL STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT COST-EFFECTIVE, SCHOOL-BASED AFTER-SCHOOL PROGRAMS 25,000

WIDE ANGLE YOUTH MEDIA

2507 N HOWARD STREET
BALTIMORE,MD21218 		    EDUCATION: SUPPORT COST-EFFECTIVE AFTER-SCHOOL PROGRAMS 25,000

WOODS HOLE OCEANOGRAPHIC INSTITUTION

183 OYSTER POND ROAD
WOODS HOLE,MA02543 		    ENVIRONMENT : GLIDER TRIPS TO GATHER DATA ABOUT ACIDITY OF GULF STREAM 75,000
Total ................................. 3a 2,711,200
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 1,172,495  
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 1,493,447  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aREIMBURSEMENT 		900099   01 25,737  
bREWARDS 900099   01 400  
cPARTNERSHIP INCOME REPORTED ON K-1 900099   14 -429  
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 2,691,650 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,691,650
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

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

52-1693184
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

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

527 political organization


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

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

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 2025) Page 2
Name of organization
LOCKHART VAUGHAN FOUNDATION
  		Employer identification number
52-1693184
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
JOHN & SUSAN POWELL
 
5508 NORMANDY PLACE
 
BALTIMORE, MD21210

$ 1,002,081


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
BEN BAKER & SUSAN NORDEN
 
1600 WEST 41ST STREET
 
BALTIMORE, MD21211

$ 600,547


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

$  


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

$  


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

$  


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

$  


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

52-1693184
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 PUBLICLY TRADED SECURITIES $ 1,002,081 2025-07-09
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
2
 PUBLICLY TRADED SECURITIES $ 95,547 2025-12-17
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
LOCKHART VAUGHAN FOUNDATION
  		Employer identification number

52-1693184
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2025 AccountingFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 16,510 8,255   8,255

TY 2025 InvestmentsCorpBondsSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Name of Bond End of Year Book Value End of Year Fair Market Value
AMERICAN AXLE 6.875% 40,648 39,950
ATI INC 5.875% 77,899 78,000
BANDWIDTH INC 78,182 80,336
BEAZER HOMES USA 5.875% 81,005 78,803
BLACKSTONE MORT 4.375% 78,547 78,271
CEDAR FAIR, LP 5.375% 44,762 44,719
CEDAR FAIR, LP 6.5% 37,539 35,100
CENTENE CORP 38,225 35,775
CROWN AMERICAS L 4.75% 36,260 35,685
DANA INC 5.375% 82,885 78,901
ENACT HOLDINGS 6.25% 43,989 46,033
FUBOTV INC 3.25% 77,475 79,352
GRAND CANYON UN 5.125% 79,645 80,502
GRIFFON CORP 5.75% 77,397 80,000
HECLA MINING CO 7.25% 26,473 26,065
HILTON WORLDWIDE 4.875% 54,639 51,870
MARRIOTT VACATIO 4.75% 156,126 157,973
MGP INGREDIENTS 1.875% 78,294 79,146
ONEMAIN FIN COR 3.5% 77,789 79,000
PEBBLERBOOK HOTE 1.75% 64,327 70,457
PENNYMAC CROP 5.5% 77,138 78,632
REDFINE CORP 0.5% 78,739 81,509
SBA COMMUNICATIONS 3.875% 64,646 71,280
SERVICE CORP 42,654 39,900
SHEA HOMES LIMIT 78,400 78,309
SNAP INC 0%27 62,499 69,696
SPIRIT AEROSYSTE 3.85% 77,244 79,600
SUMMIT HOTEL PROP 1.5% 78,110 79,009
TEGNA, INC. 44,009 43,505
TELEFLEX INC 4.625% 83,109 79,600
TENET HEALTHCARE 6.125% 73,475 73,091
THE SCOTT MIRAC 5.25% 79,268 78,000
TITAN INTERNTNL 7% 53,731 53,066
TREEHOUSE FOODS, IN 4% 78,536 84,574
V.F. CORP 77,768 80,257
WESTERN DIGITAL 4.75% 16,967 17,000

TY 2025 InvestmentsOtherSchedule2
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BROWN ADVISORY GROUP HOLDINGS, LLC AT COST 17,156 117,070
CONTINENTAL REALTY VALUE-ADD MULTIFAMILY PARALLEL FUND I, LP AT COST 239,727 239,727
PIMCO TOTAL RETURN ESG AT COST 5,850,022 5,944,727
LAZARD INTERNATIONAL QUALITY GR INSTL AT COST 2,770,278 2,665,048
SEAFARER OVERSEAS GR AND INCOME INSTL AT COST 742,355 1,090,481
T ROWE PRICE CAP APPR FD COST AT COST 6,966,709 8,590,074
VANGUARD ESG INTERNATIONAL STOCK AT COST 4,291,510 4,957,322
VANGUARD ESG US STOCK AT COST 13,604,621 22,491,181

TY 2025 LegalFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 680 0   680


TY 2025 OtherExpensesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PASSTHROUGH INVESTMENT EXPENSES 5,357 5,357   0
INSURANCE 6,056 0   6,056
BANK FEES 1,729 0   1,729
IT SUPPORT 3,600 0   3,600
MEMBERSHIPS & SUBSCRIPTIONS 7,695 0   7,695
PAYROLL PROCESSING FEES 985 0   985
SOFTWARE 2,138 0   2,138
WEBSITE AND SYSTEM SUPPORT 6,278 0   4,846
OFFICE EXPENSE 1,762 0   1,762


TY 2025 OtherIncomeSchedule2
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
REIMBURSEMENT 25,737   25,737
REWARDS 400   400
PARTNERSHIP INCOME REPORTED ON K-1 -429 -429 -429


TY 2025 OtherIncreasesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Description Amount
ADJUSTMENT TO BASIS OF PASSTHROUGH INVESTMENTS 2,412
PRIOR PERIOD ADJUSTMENT 229


TY 2025 OtherProfessionalFeesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 62,319 62,319   0
CONSULTING FEES 50,000 0   50,000


TY 2025 TaxesSchedule
Name:
LOCKHART VAUGHAN FOUNDATION
EIN:
52-1693184
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAXES 63,971 0   0
PAYROLL TAX 13,293 0   13,293