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
DEUTSCHE BANK AMERICAS FOUNDATION
 
% GRIFFIN FRANK
Number and street (or P.O. box number if mail is not delivered to street address) 1 Columbus Cir Mail Stop NYC01-0801
  Room/suite
City or town
NEW YORK
State or province
NY
Country  
ZIP or foreign postal code
10019
A Employer identification number

13-3321736
B Telephone number (see instructions)

2122502500
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)$52,831,928J 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) 8,567,775
2 Check .................
3 Interest on savings and temporary cash investments 166,884 166,884  
4 Dividends and interest from securities... 876,817 876,817  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 796,213
b Gross sales price for all assets on line 6a 4,056,971
7 Capital gain net income (from Part IV, line 2)... 796,213
8 Net short-term capital gain.........  
9 Income modifications........... 500,000
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
225,115 225,115  
12 Total. Add lines 1 through 11........ 10,632,804 2,065,029 500,000
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 42,849     42,849
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
22,838 5,710 0 17,128
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
172,124 172,124    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
19,500      
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
3,274     3,274
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 260,585 177,834 0 63,251
25 Contributions, gifts, grants paid....... 9,147,774 8,997,774
26 Total expenses and disbursements. Add lines 24 and 25 ................ 9,408,359 177,834 0 9,061,025
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,224,445
b Net investment income (if negative, enter -0-) 1,887,195
c Adjusted net income (if negative, enter -0-)... 500,000
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............. 104,278 608,716 608,716
2 Savings and temporary cash investments......... 2,671,279 3,254,913 3,260,152
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) 10,987,028
Less: allowance for doubtful accounts   11,310,000 Click to see attachment
List of Attached Documents:
// Content
10,987,028 		10,987,028
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 7,097,239 Click to see attachment
List of Attached Documents:
// Content
7,378,010 		7,447,163
b Investments—corporate stock (attach schedule)....... 14,775,392 Click to see attachment
List of Attached Documents:
// Content
15,418,419 		23,141,978
c Investments—corporate bonds (attach schedule)....... 4,659,419 Click to see attachment
List of Attached Documents:
// Content
4,694,966 		4,787,933
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,131,244 Click to see attachment
List of Attached Documents:
// Content
2,131,244 		2,598,958
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) 42,748,851 44,473,296 52,831,928
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........... 42,748,851 44,473,296
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 42,748,851 44,473,296
30 Total liabilities and net assets/fund balances (see instructions). 42,748,851 44,473,296
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
42,748,851
2
Enter amount from Part I, line 27a .....................
2
1,224,445
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
500,000
4
Add lines 1, 2, and 3 ..........................
4
44,473,296
5
Decreases not included in line 2 (itemize)
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
44,473,296
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 CAPITAL GAIN DISTRIBUTION P    
b PUBLICLY TRADED SECURITIES 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 214,541   0 214,541
b 3,842,430   3,260,758 581,672
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       214,541
b       581,672
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 2 796,213
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 26,232
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 26,232
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 26,232
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 21,228
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 21,228
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 5,004
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 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see list of attachments
List of Attached Documents:
// Content
....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see list of attachments
List of Attached Documents:
// Content
....
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. Click to see list of attachments
List of Attached Documents:
// Content
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)
NY
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addresscountry.db.com/usa/responsibility
14
The books are in care ofGRIFFIN FRANK Telephone no. (212) 250-2500

Located at1 COLUMBUS CIRCLE MAIL STOP NYC01-0NEW YORKNY ZIP+410019
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)
Yes
 
(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)
Yes
 
(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
 
No
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
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
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
ALESSANDRA DIGIUSTO EXEC DIR, SEC & TREAS
20.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
GARY BEYER CHAIRMAN & DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
ROELFIEN KUIJPERS DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
JAN FORD Director
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
CHERYL GLADSTONE DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
ANNE-MARIE PALFREY DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
PAM FINELLI DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
GRACE TAM DIRECTOR
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR Mail Stop NYC01-0801
NEW YORK,NY10019
JAMES RIVETT DIRECTOR (TERM BEG 3/2025)
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR MAIL STOP NYC01-0801
NEW YORK,NY10019
TAYLOR CHAPMAN SECRETARY(TERM END 5/2025)
1.0 		0 0 0
C/O DEUTSCHE BANK
1 COLUMBUS CIR MAIL STOP NYC01-0801
NEW YORK,NY10019
GRIFFIN FRANK INTERIM SEC(TERM BEG 5/2025)
1.0 		0 0 0
1 Columbus Cir Mail Stop NYC01-0801
NEW YORK,NY10019
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
 
Total number of other employees paid over $50,000...................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
DEUTSCHE BANK WEALTH MANAGEMENT INVESTMENT MGMT 172,124
1 COLUMBUS CIRCLE
NEW YORK,NY10019
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 SEE GENERAL EXPLANATION 2,524
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 THE FOUNDATION PROVIDES LOANS AT FAVORABLE INTEREST RATES TO EXEMPT 501(C)(3) AND OTHER ORGANIZATIONS TO FURTHER THE FOUNDATION'S CHARITABLE PURPOSES. 750,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................750,000
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
31,110,796
b
Average of monthly cash balances.......................
1b
6,977,782
c
Fair market value of all other assets (see instructions)................
1c
829,826
d
Total (add lines 1a, 1b, and 1c).......................
1d
38,918,404
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
38,918,404
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
583,776
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
38,334,628
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,916,731
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
1,916,731
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
26,232
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
26,232
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,890,499
4
Recoveries of amounts treated as qualifying distributions................
4
1,572,972
5
Add lines 3 and 4............................
5
3,463,471
6
Deduction from distributable amount (see instructions) .................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,463,471
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
9,061,025
b
Program-related investments—total from Part VIII-B..................
1b
750,000
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
9,811,025
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 3,463,471
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:2023, 2022, 2021 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 4,242,487
b From 2021...... 7,810,736
c From 2022...... 4,507,032
d From 2023...... 6,344,659
e From 2024...... 8,425,310
f Total of lines 3a through e ........ 31,330,224
4Qualifying distributions for 2025 from Part
XI, line 4: $ 9,811,025
a Applied to 2024, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		 
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		 
d Applied to 2025 distributable amount..... 3,463,471
e Remaining amount distributed out of corpus 6,347,554
5 Excess distributions carryover applied to 2025.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 37,677,778
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...... 		 
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) ....... 		 
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		4,242,487
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		33,435,291
10 Analysis of line 9:
a Excess from 2021 .... 7,810,736
b Excess from 2022 .... 4,507,032
c Excess from 2023 .... 6,344,659
d Excess from 2024 .... 8,425,310
e Excess from 2025 .... 6,347,554
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
NONE
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or 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

SEE ATTACHMENT 31

SEE ATTACHMENT 31
NEW YORK,NY00000 		    SEE ATTACHMENT 31 9,147,774
Total ................................. 3a 9,147,774
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
aPROGRAM LOAN INTEREST         224,196
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 166,884  
4 Dividends and interest from securities ....     14 876,817  
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 ............ 		    18 796,213  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INVESTMENT INCOME 		    01 919  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   1,840,833 224,196
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,065,029
(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.)
1A PROGRAM LOAN INTEREST IS GENERATED FROM LOW INTEREST LOANS PROVIDED TO VARIOUS EXEMPT AND OTHER CHARITABLE ORGANIZATIONS TO FURTHER THE FOUNDATION'S CHARITABLE PURPOSE.
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
DEUTSCHE BANK AMERICAS FOUNDATION
 
Employer identification number

13-3321736
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
DEUTSCHE BANK AMERICAS FOUNDATION
  		Employer identification number
13-3321736
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
DEUTSCHE BANK AG NY
1 columbus cirCLE Mail Stop NYC01-0
 
NEW YORK, NY10001

$ 8,567,775


(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.)
(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
DEUTSCHE BANK AMERICAS FOUNDATION
  		Employer identification number

13-3321736
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
 
$    
(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
 
$    
(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
DEUTSCHE BANK AMERICAS FOUNDATION
  		Employer identification number

13-3321736
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:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 22,838 5,710   17,128

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2025 DepreciationSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

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TY 2025 ExpenditureResponsibilityStmt
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
Pursuit Community Finance
  		5 Hanover Square Suite 1500
New York,NY10004 		2019-10-07 1,500,000 TO SUPPORT COMMUNITY LENDING IN NEW YORK STATE. 1,500,000 NO 3/3/20; 3/8/21; 3/3/22; 3/14/23; 2/2/24; 2/3/25; 2/3/26 2026-02-03 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE LOAN RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE. INFORMAL VERIFICATION REPORTS WERE OBTAINED ON A REGULAR BASIS SINCE THE LOANS ORIGINATION. THE AMOUNT NOTED ABOVE AS AMOUNT EXPENDED REPRESENTS THE OUTSTANDING BALANCE OF THE LOAN AS OF DECEMBER 31, 2025.
NYC DOWN PAYMENT ASSISTANCE FUND LLC
  		1 WHITEHALL STREET 11TH FLOOR
New York,NY10004 		2019-05-31 500,000 TO SUPPORT NON-PROFIT DEVELOPERS TO FINANCE AND DEVELOP SUPPORTIVE AND AFFORDABLE HOUSING. 0 NO 3/18/21; 3/16/22; 2/28/23; 2/14/24; 2/14/25; 2/11/26 2026-02-11 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE LOAN RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE. INFORMAL VERIFICATION REPORTS WERE OBTAINED ON A REGULAR BASIS SINCE THE LOANS ORIGINATION. THE AMOUNT NOTED ABOVE AS AMOUNT EXPENDED REPRESENTS THE OUTSTANDING BALANCE OF THE LOAN AS OF DECEMBER 31, 2025.
Climate Justice Fund LLC
  		1330 Broadway Ste 300
Oakland,CA94612 		2024-11-03 750,000 TO SUPPORT CLEAN ENERGY PROJECTS AND GREEN WORKFORCE FOR LOW-INCOME INDIVIDUALS AND COMMUNITIES 340,608 NO 12/31/24; 2/6/26 2026-02-06 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE LOAN RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE. INFORMAL VERIFICATION REPORTS WERE OBTAINED ON A REGULAR BASIS SINCE THE LOANS ORIGINATION. THE AMOUNT NOTED ABOVE AS AMOUNT EXPENDED REPRESENTS THE OUTSTANDING BALANCE OF THE LOAN AS OF DECEMBER 31, 2025.
NEW YORK FOUNDATION
  		150 W 30TH ST STE 1401
NEW YORK,NY10001 		2024-01-01 150,000 IN SUPPORT OF NEIGHBORHOODS FIRST FUND 150,000 NO 2/10/25 2025-02-10 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE GRANT RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE.
NEW YORK FOUNDATION
  		150 W 30TH ST STE 1401
NEW YORK,NY10001 		2025-01-01 150,000 IN SUPPORT OF NEIGHBORHOODS FIRST FUND 150,000 NO 2/12/26 2026-02-12 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE GRANT RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE.
NEW MAJORITY CAPITAL MANAGEMENT LLC
  		225 DYER ST
PROVIDENCE,RI02903 		2025-10-02 250,000 TO EXPAND ACCESS TO BUSINESS ACQUISITION OPPORTUNITIES FOR ENTREPRENEURS. 250,000 NO 2/5/26 2026-02-05 TO THE KNOWLEDGE OF THE FOUNDATION, AND BASED UPON THE REPORTS FURNISHED BY THE LOAN RECIPIENT, NO PART HAS BEEN USED FOR OTHER THAN ITS INTENDED PURPOSE. INFORMAL VERIFICATION REPORTS WERE OBTAINED ON A REGULAR BASIS SINCE THE LOANS ORIGINATION. THE AMOUNT NOTED ABOVE AS AMOUNT EXPENDED REPRESENTS THE OUTSTANDING BALANCE OF THE LOAN AS OF DECEMBER 31, 2025.

TY 2025 GeneralExplanationAttachment
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Identifier Return Reference Explanation
PART VIII-A, LINE 1 PART VIII-A, LINE 1 The Foundation provided gifts for students participating in career discovery week, a city-wide initiative that introduces local public high school students to the corporate world and the range of career choices available.

TY 2025 InvestmentsCorpBondsSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Name of Bond End of Year Book Value End of Year Fair Market Value
AMAZON COM INC COM 175,557 169,255
AMERICAN EXPRESS CO SR GLBL 176,814 179,202
AMERICAN HONDA FIN CORP 211,135 216,864
CATERPILLAR FINANCIAL SE DTD 159,317 166,581
CISCO SYSTEMS INC DTD 225,503 237,210
COCA COLA CO/THE DTD 175,517 170,031
COMCAST CORP NEW SR GLBL DTD 199,487 202,032
DISNEY WALT CO DTD 193,598 198,202
HOME DEPOT INC SR GLBL NT DTD 228,317 218,010
MCDONALDS CORP COM 202,866 202,416
TOYOTA MTR CR CORP FR DRD 204,669 200,043
US BANCORP MTNS BK ENT FR DTD 193,259 199,570
VISA INC SR GLBL NT DTD 168,465 162,928
WELLS FARGO & COMPANY DTD 220,298 225,673
JOHN DEERE CAPITAL CORP 222,362 231,091
TARGET CORP SR 219,408 230,204
PEPSICO INC SR 168,771 180,931
ELI LILLY & CO SR 200,343 207,422
LOWES COS INC SR GLBL 198,615 206,917
PARKER-HANNIFIN CORP FR DTD 165,258 170,518
NETFLIX INC DTD 156,748 158,833
STRYKER CORP SR GLBL NT 29 225,224 229,150
JPMORGAN CHASE & CO SR 224,943 237,601
BANK OF AMERICA CORP 178,492 187,249

TY 2025 InvestmentsCorpStockSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Name of Stock End of Year Book Value End of Year Fair Market Value
ALPHABET INC COM CL A 238,973 1,112,089
AMERICAN EXPRESS CO COM 102,239 321,857
AMGEN INC COM 171,304 255,956
APPLE INC COM 183,054 763,111
APPLIED MATERIALS INC COM 68,946 162,932
AUTODESK INC COM 59,507 63,642
BANK AMER CORP COM 249,396 401,060
BEST BUY INC COM 82,201 84,680
BIOGEN INC COM 45,330 33,966
BUILDERS FIRSTSOURCE INC COM 43,425 63,277
CATERPILLAR INC COM 56,992 151,811
CHENIERE ENERGY INC COM NEW 27,340 40,239
CISCO SYS INC COM 91,199 156,833
COCA COLA CO COM 47,450 64,038
CONOCOPHILLIPS COM 37,382 29,019
DEERE & CO COM 81,546 103,716
DELL TECHNOLOGIES INC CL C 13,486 43,680
DEUTSCHE GLOBAL INFRASTRUCTURE 931,875 939,457
DISNEY WAL CO COM 282,633 226,795
DUPONT DE NEMOURS INC COM 26,564 39,597
FRESHPET INC COM 25,510 31,318
HOME DEPOT INC COM 143,394 183,749
INTERNATIONAL FLAVORS AND FRAG 85,443 51,598
IRON MOUNTAIN INCORPORATED RE 69,474 203,896
ISHARES INC CORE MSCI EMKT ETF 1,596,467 1,932,911
ISHARES MSCI PACIFIC EX-JAPAN 1,094,059 1,435,234
JPMORGAN INTREPID EUROPEAN FUN 1,099,092 1,563,472
MASTERCARD INC COM CL A 146,593 251,758
MICROSOFT CORP COM 434,108 1,421,359
MOLSON COORS BEVERAGE COMPANY 65,650 69,413
MORGAN STANLEY COM 38,369 106,873
NEXTERA ENERGY INC COM 37,597 36,126
NVIDIA CORP COM 84,156 867,971
ONEOK INC NEW COM 23,768 46,746
OWENS CORNING INC COM NEW 53,715 79,456
PAYPAL HOLDINGS INC COM 68,417 36,137
PNC FINL SVCS GROUP INC COM 143,419 207,895
S&P GLOBAL INC COM 81,010 133,783
SALESFORCE COM INC COM 168,031 201,393
SEMPRA COM 36,313 43,766
SKYWORKS SOLUTIONS INC COM 72,914 26,442
TESLA INC COM 91,006 193,829
VANGUARD FTSE EUROPE ETF 1,567,425 2,217,504
VERTEX PHARMACEUTICALS INC COM 36,154 72,991
VIRTUS SMALL CAP CORE FUND 909,812 1,007,258
WEC ENERGY GROUP INC COM 149,319 175,485
TAKE TWO INTERACTIVE SOFTWARE 60,843 123,919
AMAZON COM INC COM 159,738 325,456
BOOKING HLDGS INC 44,135 74,975
PULTE GROUP INC 66,140 130,222
TARGET CORP COM 87,658 59,237
BROWN & BROWN INC 77,924 84,084
CITIGROUP INC COM 134,043 356,255
ALIGN TECHNOLOGY 43,375 21,236
GILEAD SCIENCES INC 111,829 158,826
THE CIGNA GROUP 164,793 231,193
AUTOMATIC DATA PROCESSING 74,464 87,276
UBER TECH INC COM 44,462 77,870
STEEL DYNAMICS INC 42,840 72,059
HEALTHPEAK PPTYS INC 42,853 20,856
HASBRO INC 54,992 77,654
COSTCO WHSL CORP NEW COM 132,839 136,250
BAKER HUGHES COMPANY CL A 49,621 78,511
ELI LILLY & CO COM 119,779 149,381
GRAIL INC COM 1,116 6,590
HUMANA INC COM 59,132 59,113
INCYTE GENOMICS INC COM 98,540 141,241
GE AEROSPACE COM NEW 53,436 105,778
MICRON TECHNOLOGY INC COM 124,504 311,510
ORACLE CORP COM 92,531 115,971
BALL CORP COM 50,433 47,408
ISHARES TR RUSSELL 2000 ETF 283,464 287,269
OMNICON GROUP COM 62,170 60,038
NORWEGIAN CRUISE LINE HOLD LTD 61,071 48,300
TJX COS INC NEW COM 59,489 73,272
ALTRIA GROUP INC COM 62,373 61,773
BJS WHSL CLUB HLDGS INC COM 62,120 53,208
KENVUE INC COM 53,825 40,917
LAMB WESTON HLDGS INC W/I COM 63,030 54,038
CHEVRON CORP NEW COM 18,882 55,020
SLB LIMITED COM STK 127,224 99,700
VISA INC CL A COM 54,030 56,464
INTUITIVE SURGICAL INC COM NEW 66,918 86,087
REGENERON PHARM INC COM 61,700 68,696
UNITEDHEALTH GROUP INC COM 53,006 41,924
EMCOR GROUP INC COM 46,545 43,437
GE VERNOVA INC COM 58,827 79,736
GENERAC HOLDINGS INC COM 66,773 53,866
HOWMET AEROSPACE INC COM 139,480 181,033
ROCKET LAB CORP COM 67,421 91,665
ADVANCED MICRO DVS INC COM 58,950 107,508
BROADCOM INC COM 90,641 111,790
QUALCOMM INC COM 61,348 61,236
QNITY ELECTRONICS INC COM 38,106 40,253
SERVICENOW INC COM 58,643 45,191
TWILIO INC CL A 46,727 64,150
AES CORP COM 61,855 64,860
ISHARES NORTH AMER TECH ETF 379,724 401,558

TY 2025 InvestmentsGovtObligationsSch
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
US Government Securities - End of Year Book Value:

7,378,010
US Government Securities - End of Year Fair Market Value:

7,447,163
State & Local Government Securities - End of Year Book Value:


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


 


TY 2025 InvestmentsOtherSchedule2
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ISHARES GOLD TRUST   452,434 1,046,444
BLACKROCK FDS V HI YLD   518,466 495,600
VIRTUS SEIX FLOATING RATE   533,093 504,685
MFS EMERGING MARKETS DEBT   627,251 552,229

TY 2025 OtherExpensesSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
NY FILING FEES 750     750
CAREER DISCOVERY DAY EXPENSES 2,524     2,524


TY 2025 OtherIncomeSchedule2
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Program Loan Interest 224,196 224,196  
Other investment income 919 919  


TY 2025 OtherIncreasesSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Description Amount
RECOVERY OF PRIOR YEAR DISTRIBUTIONS 500,000


Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2025 OtherNotesLoansRcvblLongSch
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736

Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
SEE ATTACHMENT 30     10,987,028       0 %        

TY 2025 OtherProfessionalFeesSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES 172,124 172,124    


TY 2025 TaxesSchedule
Name:
DEUTSCHE BANK AMERICAS FOUNDATION
EIN:
13-3321736
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 19,500