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
HEAD & HEART FOUNDATION TR 12319
 
Number and street (or P.O. box number if mail is not delivered to street address) BESSEMER TR 20 MONTCHANIN RD 1500
  Room/suite
City or town
WILMINGTON
State or province
DE
Country  
ZIP or foreign postal code
19807
A Employer identification number

37-6701408
B Telephone number (see instructions)

5165089623
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)$321,672,568J 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... 5,539,539 5,539,539  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 21,845,889
b Gross sales price for all assets on line 6a 105,716,711
7 Capital gain net income (from Part IV, line 2)... 21,845,889
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 27,385,428 27,385,428  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 480,134 320,105   160,029
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
657 0   657
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
37,708 0   37,708
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
249,799 12,049   0
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
395 0   395
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 768,693 332,154   198,789
25 Contributions, gifts, grants paid....... 13,185,000 13,185,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 13,953,693 332,154   13,383,789
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 13,431,735
b Net investment income (if negative, enter -0-) 27,053,274
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 7,635,065 9,704,378 9,704,378
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) 40,606,481 Click to see attachment
List of Attached Documents:
// Content
38,585,597 		39,101,948
b Investments—corporate stock (attach schedule)....... 179,602,448 Click to see attachment
List of Attached Documents:
// Content
190,386,338 		252,352,920
c Investments—corporate bonds (attach schedule)....... 17,515,145 Click to see attachment
List of Attached Documents:
// Content
20,099,769 		20,513,322
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe )      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 245,359,139 258,776,082 321,672,568
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........ 245,359,139 258,776,082
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)..... 245,359,139 258,776,082
30 Total liabilities and net assets/fund balances (see instructions). 245,359,139 258,776,082
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
245,359,139
2
Enter amount from Part I, line 27a .....................
2
13,431,735
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
258,790,874
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
14,792
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
258,776,082
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 P    
b PUBLICLY TRADED SECURITIES P    
c Capital Gains Dividends P    
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 48,447,664   49,062,800 -615,136
b 39,770,874   34,808,022 4,962,852
c 17,498,173     17,498,173
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       -615,136
b       4,962,852
c       17,498,173
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 21,845,889
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) 1 376,041
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........................... 3 376,041
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- ..... 5 376,041
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 110,000
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.............. 7 110,000
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 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 266,041
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)
DE
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 ofBESSEMER TRUST Telephone no. (516) 508-9623

Located at1325 FRANKLIN AVENUEGARDEN CITYNY ZIP+411530
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
HB PRESIDENT
1.00 		0 0 0
C/O BESSEMER TRUST 20 MONTCHANIN
ROAD
WILMINGTON,DE19807
BESSEMER TRUST COMPANY OF DELAWARE CORPORATE TRUSTEE
40.00 		480,134 0 0
20 MONTCHANIN ROAD
WILMINGTON,DE19807
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.........................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
303,764,060
b
Average of monthly cash balances.......................
1b
1,815,728
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
305,579,788
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
305,579,788
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
4,583,697
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
300,996,091
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
15,049,805
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
15,049,805
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
376,041
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
376,041
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
14,673,764
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
14,673,764
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
14,673,764
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
13,383,789
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
13,383,789
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 14,673,764
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 13,026,343
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 13,383,789
a Applied to 2024, but not more than line 2a 13,026,343
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..... 357,446
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 .......... 		14,316,318
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or 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

ADVOCATES FOR THE WEST

PO BOX 1612
BOISE,ID83701 		N/A   GENERAL SUPPORT 75,000

AFRICAN PARKS FOUNDATION OF AMERICA

2020 PENNSYLVANIA AVENUE NW 254
WASHINGTON,DC20006 		N/A   GENERAL SUPPORT 450,000

AFRICAN WILDLIFE FOUNDATION

1100 NEW JERSEY AVENUE SE STE 900
WASHINGTON,DC20003 		N/A   GENERAL SUPPORT 250,000

AMERICAN BIRD CONSERVANCY

PO BOX 249
THE PLAINS,VA20198 		N/A   GENERAL SUPPORT 450,000

AMERICAN FORESTS

1220 L STREET NW STE 750
WASHINGTON,DC20005 		N/A   GENERAL SUPPORT 250,000

AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION

228 EAST 45TH STREET STE 9E
NEW YORK,NY10017 		N/A   GENERAL SUPPORT 100,000

AMERICAN RIVERS

1101 14TH STREET NW STE 1400
WASHINGTON,DC20005 		N/A   GENERAL SUPPORT 450,000

ANIMAL WELFARE INSTITUTE

900 PENNSYLVANIA AVENUE SE
WASHINGTON,DC20003 		N/A   GENERAL SUPPORT 100,000

ANIMALS ASIA FOUNDATION US

PO BOX 758640
TOPEKA,KS66675 		N/A   GENERAL SUPPORT 150,000

ARCAS WILDLIFE RESCUE AND CONSERVATION ASSOCIATION

140 S DEARBORN STREET STE 1510
CHICAGO,IL60603 		N/A   GENERAL SUPPORT 50,000

BAT CONSERVATION INTERNATIONAL

500 N CAPITAL OF TEXAS HIGHWAY BLDG
8 STE 225
AUSTIN,TX78746 		N/A   GENERAL SUPPORT 150,000

BAT WORLD SANCTUARY

299 HIGH POINT ROAD
WEATHERFORD,TX76088 		N/A   GENERAL SUPPORT 25,000

BEYOND PESTICIDES

701 E STREET SE STE 200
WASHINGTON,DC20003 		N/A   GENERAL SUPPORT 100,000

BORN FREE USA

8737 COLESVILLE ROAD STE 715
SILVER SPRING,MD20910 		N/A   GENERAL SUPPORT 100,000

BORN FREE USA UNITED WITH ANIMAL PROTECTION INSTITUTE

8737 COLESVILLE ROAD STE 715
SILVER SPRING,MD20910 		N/A   GENERAL SUPPORT 125,000

CENTER FOR BIOLOGICAL DIVERSITY

PO BOX 710
TUCSON,AZ85702 		N/A   GENERAL SUPPORT 450,000

CENTER FOR COASTAL STUDIES INC

5 HOLWAY AVENUE
PROVINCETOWN,MA02657 		N/A   GENERAL SUPPORT 50,000

CENTER FOR ORANGUTAN AND CHIMPANZEE CONSERVATION

PO BOX 488
WAUCHULA,FL33873 		N/A   GENERAL SUPPORT 50,000

CHESAPEAKE BAY FOUNDATION

6 HERNDON AVENUE
ANNAPOLIS,MD21403 		N/A   GENERAL SUPPORT 150,000

CHIMPANZEE SANCTUARY NORTHWEST

PO BOX 952
CLE ELUM,WA98922 		N/A   GENERAL SUPPORT 50,000

CONSERVATION FUND

1655 N FORT MYER DR STE 1300
ARLINGTON,VA22209 		N/A   GENERAL SUPPORT 450,000

CONSERVATION INTERNATIONAL FOUNDATION

2011 CRYSTAL DRIVE STE 600
ARLINGTON,VA22202 		N/A   GENERAL SUPPORT 400,000

CONSERVATION LAW FOUNDATION

62 SUMMER STREET
BOSTON,MA02110 		N/A   GENERAL SUPPORT 150,000

CONSERVATION NORTHWEST

1829 10TH AVENUE W STE B
SEATTLE,WA98119 		N/A   GENERAL SUPPORT 175,000

DAVID SHELDRICK WILDLIFE TRUST

25283 CABOT ROAD STE 101
LAGUNA HILLS,CA92653 		N/A   GENERAL SUPPORT 200,000

DEFENDERS OF WILDLIFE

1130 17TH STREET NW
WASHINGTON,DC20036 		N/A   GENERAL SUPPORT 450,000

DIAN FOSSEY GORILLA FUND INTERNATIONAL

800 CHEROKEE AVENUE SE
ATLANTA,GA30315 		N/A   GENERAL SUPPORT 150,000

DONKEYLAND

5225 CANYON CREST DR STE 71-295
RIVERSIDE,CA92507 		N/A   GENERAL SUPPORT 100,000

EARTHJUSTICE

50 CALIFORNIA STREET STE 500
SAN FRANCISCO,CA94111 		N/A   GENERAL SUPPORT 500,000

ENVIRONMENTAL LAW & POLICY CENTER

35 E WACKER DRIVE STE 1600
CHICAGO,IL60601 		N/A   GENERAL SUPPORT 100,000

ENVIRONMENTAL WORKING GROUP

1250 I STREET NW STE 1000
WASHINGTON,DC20005 		N/A   GENERAL SUPPORT 100,000

FAUNA SANCTUARY INC

3802 CHEMIN BELLERIVE
CARIGNAN,QUEBEC  
CA 		N/A   GENERAL SUPPORT 25,000

FOSTER PARROTS LTD

PO BOX 34
HOPE VALLEY,RI02832 		N/A   GENERAL SUPPORT 500,000

FRIENDS OF ANIMALS

777 POST ROAD STE 205
DARIEN,CT06820 		N/A   GENERAL SUPPORT 250,000

FRIENDS OF BUFORD PARK AND MT PISGAH

PO BOX 5266
EUGENE,OR97405 		N/A   GENERAL SUPPORT 20,000

FRIENDS OF TREES

3117 NE MARTIN LUTHER KING JR BLVD
PORTLAND,OR97212 		N/A   GENERAL SUPPORT 25,000

GLOBAL SANCTUARY FOR ELEPHANTS

PO BOX 2426
BRENTWOOD,TN37024 		N/A   GENERAL SUPPORT 175,000

GORILLA REAHABILITAION AND CONVERVATION EDUCATION CENTER INC

PO BOX 504
NIWOT,CO80544 		N/A   GENERAL SUPPORT 100,000

GREEN FORESTS WORK

730 ROSE STREET
LEXINGTON,KY40536 		N/A   GENERAL SUPPORT 75,000

INTERNATIONAL ANIMAL RESCUE US INC

PO BOX 137
SHREWSBURY,MA01545 		N/A   GENERAL SUPPORT 125,000

INTERNATIONAL FUND FOR ANIMAL WELFARE

290 SUMMER STREET
YARMOUTH PORT,MA02675 		N/A   GENERAL SUPPORT 175,000

INTERNATIONAL PRIMATE PROTECTION LEAGUE

PO BOX 766
SUMMERVILLE,SC29484 		N/A   GENERAL SUPPORT 50,000

LEMUR CONSERVATION FOUNDATION

PO BOX 249
MYAKKA CITY,FL34251 		N/A   GENERAL SUPPORT 50,000

LIONS TIGERS AND BEARS

24402 MARTIN WAY
ALPINE,CA91901 		N/A   GENERAL SUPPORT 50,000

LIVING LANDS AND WATERS

17624 ROUTE 84 NORTH
EAST MOLINE,IL61244 		N/A   GENERAL SUPPORT 100,000

LOWRY PARK ZOOLOGICAL SOCIETY OF TAMPA

1101 W SLIGH AVENUE
TAMPA,FL33604 		N/A   GENERAL SUPPORT 125,000

LWIRO PRIMATE FUND INC

PO BOX 262
AVON BY THE SEA,NJ07717 		N/A   GENERAL SUPPORT 100,000

MARINE MAMMAL CARE CENTER LOS ANGELES

1536 W 25TH STREET BOX 272
SAN PEDRO,CA90732 		N/A   GENERAL SUPPORT 50,000

MARINE MAMMAL CENTER

2000 BUNKER ROAD
SAUSALITO,CA94965 		N/A   GENERAL SUPPORT 50,000

MCKENZIE RIVER TRUST

PO BOX 1451
EUGENE,OR97740 		N/A   GENERAL SUPPORT 75,000

MIDWEST AVIAN ADOPTION & RESCUE SERVICES

1360 UNIVERSITY AVE W 347
ST PAUL,MN55104 		N/A   GENERAL SUPPORT 25,000

MONTANA WILDERNESS ASSOCIATION

80 S WARREN STREET
HELENA,MT59601 		N/A   GENERAL SUPPORT 100,000

NEW ENGLAND AQUARIUM

1 CENTRAL WHARF
BOSTON,MA02110 		N/A   GENERAL SUPPORT 100,000

NORTH AMERICAN BUTTERFLY ASSOCIATION INC

4 DELAWARE ROAD
MORRISTOWN,NJ07960 		N/A   GENERAL SUPPORT 25,000

NORTH COAST LAND CONSERVANCY INC

PO BOX 67
SEASIDE,OR97138 		N/A   GENERAL SUPPORT 75,000

NORTHCOAST MARINE MAMMAL CENTER

424 HOWE DRIVE
CRESCENT CITY,CA95531 		N/A   GENERAL SUPPORT 25,000

OASIS SANCTUARY FOUNDATION

PO BOX 2166
SCOTTSDALE,AZ85252 		N/A   GENERAL SUPPORT 75,000

OCEANA

1025 CONNECTICUT AVENUE NW STE 200
WASHINGTON,DC20036 		N/A   GENERAL SUPPORT 350,000

OPEN SPACE INSTITUTE

1350 BROADWAY STE 201
NEW YORK,NY10018 		N/A   GENERAL SUPPORT 250,000

ORANGUTAN FOUNDATION INTERNATIONAL

824 WELLESLEY AVENUE
LOS ANGELES,CA90049 		N/A   GENERAL SUPPORT 250,000

PRIMARILY PRIMATES INC

26099 DULL KNIFE TRAIL
SAN ANTONIO,TX78255 		N/A   GENERAL SUPPORT 60,000

PROFESSIONAL ANIMAL RETIREMENT CENTER

1426 W 300 N
ALBION,IN46701 		N/A   GENERAL SUPPORT 25,000

RAINFOREST TRUST

PO BOX 841
WARRENTON,VA20188 		N/A   GENERAL SUPPORT 500,000

SANAGA-YONG CHIMPANZEE RESCUE

PO BOX 2743
PORTLAND,OR97208 		N/A   GENERAL SUPPORT 50,000

SEA TURTLE OVERSIGHT PROTECTION

3104 NE 9TH STREET STE A
FORT LAUDERDALE,FL33304 		N/A   GENERAL SUPPORT 10,000

SR3 SEALIFE RESPONSE REHABILITATION AND RESEARCH

22650 DOCK AVENUE S
DES MOINES,WA98198 		N/A   GENERAL SUPPORT 50,000

THREE RING RANCH INC

75-809 KEAOLANI DRIVE
KAILUA KONA,HI96740 		N/A   GENERAL SUPPORT 25,000

TUCSON WILDLIFE CENTER

PO BOX 18320
TUCSON,AZ85731 		N/A   GENERAL SUPPORT 30,000

TURPENTINE CREEK FOUNDATION INC

239 TURPENTINE CREEK LANE
EUREKA SPRINGS,AR72632 		N/A   GENERAL SUPPORT 65,000

TURTLE CONSERVANCY

PO BOX 1289
OJAI,CA93024 		N/A   GENERAL SUPPORT 100,000

WESTERN ENVIRONMENTAL LAW CENTER

120 SHELTON MCMURPHEY BLVD STE 340
EUGENE,OR97401 		N/A   GENERAL SUPPORT 150,000

WESTERN RIVERS CONSERVANCY

71 SW OAK STREET STE 100
PORTLAND,OR97204 		N/A   GENERAL SUPPORT 250,000

WESTERN WATERSHEDS PROJECT

PO BOX 1770
HAILEY,ID83333 		N/A   GENERAL SUPPORT 75,000

WILD ANIMAL SANCTUARY

1946 COUNTY ROAD 53
KEENESBURG,CO80643 		N/A   GENERAL SUPPORT 200,000

WILDAID

220 MONTGOMERY STREET STE 1200
SAN FRANCISCO,CA94104 		N/A   GENERAL SUPPORT 150,000

WILDCAT RIDGE SANCTUARY

PO BOX 280
SCOTTS MILLS,OR97375 		N/A   GENERAL SUPPORT 25,000

WILDCAT SANCTUARY

PO BOX 314
SANDSTONE,MN55072 		N/A   GENERAL SUPPORT 75,000

WILDLIFE CONSERVATION NETWORK

209 MISSISSIPPI STREET
SAN FRANCISCO,CA94107 		N/A   GENERAL SUPPORT 300,000

WILDLIFE CONSERVATION SOCIETY

2300 SOUTHERN BOULEVARD
BRONX,NY10460 		N/A   GENERAL SUPPORT 300,000

WILDLIFE REHABILITATORS ASSOC OF RHODE ISLAND

2865 TOWER HILL ROAD
SAUNDERSTOWN,RI02874 		N/A   GENERAL SUPPORT 25,000

WILDLIFE RESCUE AND REHABILITATION

PO BOX 369
KENDALIA,TX78027 		N/A   GENERAL SUPPORT 100,000

WILDLIFE SOS

406 E 300 S 302
SALT LAKE CITY,UT84111 		N/A   GENERAL SUPPORT 125,000

WORKING DOGS FOR CONSERVATION FOUNDATION

PO BOX 280
BOZEMAN,MT59771 		N/A   GENERAL SUPPORT 50,000

WORLD WILDLIFE FUND

1250 24TH STREET NW
WASHINGTON,DC20037 		N/A   GENERAL SUPPORT 250,000

XERCES SOCIETY

PO BOX 97387
WASHINGTON,DC20090 		N/A   GENERAL SUPPORT 150,000

YELLOWSTONE TO YUKON CONSERVATION INITIATIVE

PO BOX 157
BOZEMAN,MT59771 		N/A   GENERAL SUPPORT 300,000
Total ................................. 3a 13,185,000
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 5,539,539  
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 21,845,889  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 27,385,428 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
27,385,428
(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:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX RETURN PREPARATION FEE 2,000 0   2,000
ACCOUNTING FEE 35,708 0   35,708

TY 2025 InvestmentsCorpBondsSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Name of Bond End of Year Book Value End of Year Fair Market Value
500000 ABBVIE INC 480,760 484,975
500000 AERCAP IRELAND CAP/GLOBA 497,365 505,038
500000 AIR LEASE CORP 493,985 514,542
500000 AMERICAN INTERNATIONAL 510,619 512,421
500000 AMERICAN TOWER CORP 498,110 512,098
300000 AMPHENOL CORP 299,717 296,846
485000 ASTRAZENECA FINANCE LLC 484,491 497,884
500000 AT&T INC 501,370 512,154
500000 BRIXMOR OPERATING PART 489,435 498,865
500000 BROADCOM INC 500,088 514,817
500000 CARMAX 2022-4 A3 99,994 100,303
500000 CARMX 2024-4 A3 499,906 505,182
510000 CHARLES SCHWAB CORP 509,675 490,619
300000 CVS HEALTH CORP 304,842 305,938
500000 DTE ENERGY CO 499,225 516,185
500000 DUKE ENERGY CAROLINAS 519,055 517,190
300000 EQUINIX EU 2 FINANCING C 300,930 300,965
500000 FISERV INC 460,590 484,942
508000 GENERAL MOTORS FINL CO 424,800 460,077
500000 GEORGIA POWER CO 498,825 508,275
500000 HAROT 2023-2 A3 260,631 261,715
500000 HAROT 2025-1 A3 499,985 505,278
400000 JDOT 2024-B A3 399,922 405,600
500000 KLA CORP 496,965 502,359
505000 L3HARRIS TECH INC 505,118 525,421
500000 LABORATORY CORP OF AMER 497,070 499,455
500000 LEIDOS INC 499,970 520,039
500000 MARSH & MCLENNAN COS INC 497,864 510,030
500000 MCKESSON CORP 499,697 508,717
500000 MERCK & CO INC 499,165 501,452
300000 NORTHROP GRUMMAN CORP 304,837 304,078
500000 PAYCHEX INC 510,727 517,876
500000 PUBLIC SERVICE ENTERPRIS 507,180 522,185
500000 PUBLIC STORAGE 500,526 473,577
657000 PUBLIC STORAGE 570,460 627,170
500000 ROPER TECHNOLOGIES INC 499,345 502,101
500000 RYDER SYSTEM INC 496,940 512,092
640000 SOUTHWEST AIRLINES CO 637,062 647,974
500000 STRYKER CORP 498,707 513,892
714000 TEXAS INSTRUMENTS INC 603,244 650,046
451000 TOYOTA MOTOR CREDIT CORP 459,196 466,386
475000 VERISK ANALYTICS INC 479,888 479,750
500000 ZIMMER BIOMET HOLDINGS 501,488 516,813

TY 2025 InvestmentsCorpStockSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Name of Stock End of Year Book Value End of Year Fair Market Value
4411 SHS ABBVIE INC 930,113 1,007,869
9523 SHS ALPHABET INC CLASS C 512,448 2,988,317
12420 SHS AMAZON.COM INC 745,528 2,866,784
8650 SHS AMEREN CORP 688,866 863,789
8838 SHS API GROUP CORP 228,438 338,142
3478 SHS APOLLO GLOBAL MANAGEMENT I 532,854 503,475
11555 SHS APPLE INC 829,817 3,141,342
3523 SHS APPLIED MATERIALS 568,243 905,376
235 SHS ASM INTERNATIONAL NV 67,395 142,922
619 SHS ASML HOLDING 323,345 670,157
4362 SHS BENTLEY SYSTEMS INC 207,009 166,476
3940 SHS BJ'S WHOLESALE CLUB HOLDIN 242,020 354,718
2254 SHS BOOZ ALLEN HAMILTON HLDGS 226,180 190,147
8063 SHS BOSTON SCIENTIFIC CORP 794,252 768,807
4533 SHS BROADCOM INC 842,089 1,568,871
16666 SHS BROOKFIELD CORPORATION 497,579 764,803
1378 SHS BWX TECHNOLOGIES INC 140,814 238,174
444 SHS CADENCE DESIGN SYSTEMS INC 127,338 138,786
1458 SHS CAPITAL ONE FINANCIAL 339,014 353,361
740 SHS CARLISLE COS 145,708 236,696
27260 SHS CCC INTELLIGENT SOLUTIONS 293,153 216,717
2324 SHS CDW CORP/DE 294,348 316,529
2008 SHS CENCORA INC 381,803 678,202
1783 SHS CLEAN HARBORS INC 236,279 418,078
1579 SHS COOPER COS INC/THE 86,564 129,415
5747 SHS CORE & MAIN INC 254,341 298,672
622 SHS COSTCO WHSL CORP NEW 349,596 536,375
5550 SHS CRH PLC 385,743 692,640
2012 SHS DANAHER CORP 240,237 460,587
3086 SHS DOLLARAMA INC 89,123 461,566
1827 SHS ENTEGRIS INC 228,442 153,925
1013 SHS EQUIFAX INC 129,759 219,801
1817 SHS ESAB CORP 216,361 202,995
4633 SHS FORTINET INC 353,578 367,907
1956 SHS GARTNER INC CL A 703,615 493,460
672 SHS HEIDELBERG MATERIALS AG 158,337 176,239
1950 SHS HILTON WORLDWIDE HOLDINGS 182,942 560,138
1776 SHS HOLCIM LTD 159,191 174,133
2913 SHS HOWMET AEROSPACE INC 99,719 597,223
3272 SHS INTERACTIVE BROKER 233,467 210,422
5476 SHS INTERCONTINENTAL EXCHG INC 558,951 886,893
1080 SHS INTUITIVE SURGICAL 527,818 611,669
8839 SHS ISHRS MSCI EAFE IND FND 788,354 848,809
2475 SHS KEYSIGHT TECHNOLOGIES INC 379,907 502,895
673 SHS LABCORP HLDGS 190,052 168,842
2636 SHS LIGHT & WONDER INC. 242,800 271,745
3568 SHS LIVE NATION ENTERTMNT INC 379,923 508,440
991 SHS MACOM TECHNOLOGY SOLUTIONS 162,697 169,738
1198 SHS MANHATTAN ASSOCIATES INC 221,720 207,625
954 SHS MCKESSON CORP 540,999 782,557
619 SHS MEDPACE HOLDINGS 171,266 347,661
96 SHS MERCADOLIBRE INC 98,697 193,369
2988 SHS META PLATFORMS INC 592,100 1,972,349
8055 SHS MICROSOFT CORP 865,359 3,895,559
3528 SHS MONCLER SPA 211,258 227,665
1363 SHS MSCI INC 806,641 781,994
4791 SHS NASDAQ INC. 119,917 465,350
10111 SHS NEXTERA ENERGY INC 736,758 811,711
828 SHS NORTHROP GRUMMAN CORP 323,764 472,134
21087 SHS NVIDIA CORP 853,429 3,932,726
1628285.919 SHS OW CREDIT INCOME FUND 15,929,773 13,010,004
6967781.426 SHS OW LARGE CAP STRATEGIES FD 105,887,838 144,093,720
2299755.861 SHS OW SMALL & MIDCAP STRAT FD 37,427,395 40,038,750
1507 SHS PALO ALTO NETWORKS INC 277,603 277,589
127 SHS PARTNERS GROUP HOLDING AG 191,454 157,316
817 SHS REDDIT INC 178,092 187,804
1771 SHS REPUBLIC SERVICES INC 403,425 375,328
5622 SHS RYAN SPECIALTY HOLDNGS INC 263,885 290,264
1329 SHS S&P GLOBAL INC. 445,603 694,522
768 SHS SAIA INC COM 237,401 250,767
2960 SHS SERVICENOW INC 521,925 453,442
1370 SHS SHERWIN-WILLIAMS CO 462,367 443,921
1214 SHS SPOTIFY TECHNOLOGY SA 733,737 704,982
2667 SHS ST STR SPDR S&P REG BK ETF 173,735 172,848
5525 SHS STANDARDAERO INC 158,357 158,457
1992 SHS STERIS PLC 175,548 505,012
1773 SHS STRAUMANN HOLDING AG 218,927 208,937
1574 SHS TAIWAN SEMI MFG CO ADR 459,350 478,323
3030 SHS TAKE-2 INTERACTIVE 497,989 775,771
685 SHS TEXAS ROADHOUSE INC 119,576 113,710
710 SHS THERMO FISHER SCIENTIFIC 113,007 411,410
3008 SHS TRADEWEB MARKETS INC 190,368 323,480
7966 SHS TRANSUNION 541,895 683,085
3931 SHS UL SOLUTIONS INC 224,021 309,999
1481 SHS UNITEDHEALTH GROUP INC 409,782 488,893
4842 SHS US FOODS HOLDING CORP 115,021 364,699
4733 SHS VISA INC 518,395 1,659,910
6878 SHS WALMART INC 335,206 766,278
2354 SHS XPO INC 336,605 319,932

TY 2025 InvestmentsGovtObligationsSch
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
US Government Securities - End of Year Book Value:

38,585,597
US Government Securities - End of Year Fair Market Value:

39,101,948
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2025 LegalFeesSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 657 0   657


TY 2025 OtherDecreasesSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Description Amount
BASIS ADJUSTMENTS 11,350
CASH TIMING ADJUSTMENT 3,442


TY 2025 OtherExpensesSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DE REPRESENTATION FEE 300 0   300
CORPORATION FEE 95 0   95


TY 2025 TaxesSchedule
Name:
HEAD & HEART FOUNDATION TR 12319
EIN:
37-6701408
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX PAYMENTS 237,750 0   0
FOREIGN TAXES 12,049 12,049   0