TY 2025 Form 990PF

- TIN:

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
SETHNESS ARNOLD FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address) 707 SKOKIE BLVD SUITE 600
Room/suite

City or town
NORTHBROOK

State or province
IL

Country

ZIP or foreign postal code
60062

A Employer identification number

83-2099072

B Telephone number (see instructions)

8474000099

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

D 1. Foreign organizations, check here.............

2. Foreign organizations meeting the 85%
test, check here and attach computation ...

E If private foundation status was terminated
under section 507(b)(1)(A), check here .......

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$2,704,114J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	3,780
2	Check .................
3	Interest on savings and temporary cash investments	434		434	434
4	Dividends and interest from securities...	64,629		64,629	64,629
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		124,088
b	Gross sales price for all assets on line 6a 1,448,647
7	Capital gain net income (from Part IV, line 2)...			124,088
8	Net short-term capital gain.........				124,088
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........	192,931		189,151	189,151
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	3,780
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	19,664	19,664
17	Interest...............
18	Taxes (attach schedule) (see instructions)...
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	-3,634
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	19,810		19,664		0
25	Contributions, gifts, grants paid.......	145,110				145,110
26	Total expenses and disbursements. Add lines 24 and 25 ................	164,920		19,664		145,110
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	28,011
b	Net investment income (if negative, enter -0-)			169,487
c	Adjusted net income (if negative, enter -0-)...				189,151

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2025)

Form 990-PF (2025)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	23,535	23,348	23,348
	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)	248,288	List of Attached Documents: // Content 351,579	356,902
	b	Investments—corporate stock (attach schedule).......	690,704	List of Attached Documents: // Content 703,287	1,004,531
	c	Investments—corporate bonds (attach schedule).......	322,782	List of Attached Documents: // Content 310,058	335,342
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	876,899	List of Attached Documents: // Content 801,947	983,991
	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)	2,162,208	2,190,219	2,704,114
	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
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	2,162,208	2,190,219
	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).....	2,162,208	2,190,219
	30	Total liabilities and net assets/fund balances (see instructions).	2,162,208	2,190,219

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

2,162,208

Enter amount from Part I, line 27a .....................

28,011

Other increases not included in line 2 (itemize)

Add lines 1, 2, and 3 ..........................

2,190,219

Decreases not included in line 2 (itemize)

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..

2,190,219

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
1 a	PUBLICLY TRADED SECURITIES	P
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,448,647	1,324,559	124,088
b
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			124,088
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	124,088
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 .........................		3	124,088

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.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	2,356
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	2,356
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	2,356
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	2,396
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	2,500
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	4,896
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	2,540
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax2,540	Refunded	11
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. $ (2) On foundation managers.$

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers.$

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website addressN/A

The books are in care ofRANDALL ROMEI Telephone no. (847) 400-0099

Located at707 SKOKIE BLVD SUITE 600NORTHBROOKIL ZIP+460062

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 ........

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........

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? .............

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)):

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?....................

If "Yes," list the years 20, 20, 20, 20

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.) ..............

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

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.).....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2025)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check .........

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
MARY S ARNOLD	VP/TREAS/DIR 0.20	0
PO BOX 239 MACATAWA,MI49434	VP/TREAS/DIR 0.20	0
JOSEPH C ARNOLD	PRES/DIR 0.20	0
8643 OLD DOMINION DRIVE MCLEAN,VA22102	PRES/DIR 0.20	0
RANDALL ROMEI	SECRETARY/DIR 0.20	0
180 N STETSON 1940 CHICAGO,IL60601	SECRETARY/DIR 0.20	0

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...................

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 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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3.........................

Form 990-PF (2025)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

2,658,453

Average of monthly cash balances.......................

23,374

Fair market value of all other assets (see instructions)................

Total (add lines 1a, 1b, and 1c).......................

2,681,827

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

2,681,827

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

40,227

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

2,641,600

Minimum investment return. Enter 5% (0.05) of line 5 ................

132,080

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.)

Minimum investment return from Part IX, line 6..................

132,080

Tax on investment income for 2025 from Part V, line 5 .......

2,356

Income tax for 2025. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

2,356

Distributable amount before adjustments. Subtract line 2c from line 1............

129,724

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

129,724

Deduction from distributable amount (see instructions) .................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

129,724

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........

145,110

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

145,110

Form 990-PF (2025)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2025
1 Distributable amount for 2025 from Part X, line 7			129,724
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2025:
a From 2020......	12,941
b From 2021......	16,595
c From 2022......	11,972
d From 2023......	13,470
e From 2024......	10,012
f Total of lines 3a through e ........		64,990
4Qualifying distributions for 2025 from Part
XI, line 4: $ 145,110
a Applied to 2024, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions) .....
c Treated as distributions out of corpus (Election required—see instructions) ........		0
d Applied to 2025 distributable amount.....			129,724
e Remaining amount distributed out of corpus		15,386
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		80,376
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
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 ...........
e Undistributed income for 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............
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) ...		12,941
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		67,435
10 Analysis of line 9:
a Excess from 2021 ....	16,595
b Excess from 2022 ....	11,972
c Excess from 2023 ....	13,470
d Excess from 2024 ....	10,012
e Excess from 2025 ....	15,386

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

MARY S ARNOLD

JOSEPH C ARNOLD

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
BLUE RIDGE SCHOOL 273 MAYO DR SAINT GEORGE,VA22935	NONE		UNRESTRICTED	45,000
LAKE FOREST ACADEMY 1500 W KENNEDY RD LAKE FOREST,IL60045	NONE		UNRESTRICTED	1,000
MISS HALLS SCHOOL 492 HOLMES RD PITTSFIELD,MA01201	NONE		UNRESTRICTED	5,000
MADEIRA SCHOOL 8328 GEORGETOWN PIKE MCLEAN,VA22102	NONE		UNRESTRICTED	500
AOG WEST POINT HERBERT HALL MILLS RD WEST POINT,NY10996	NONE		UNRESTRICTED	40,000
BIG SHOULDERS FUND 212 W VAN BUREN SUITE 900 CHICAGO,IL60607	NONE		UNRESTRICTED	500
FEEDING AMERICA 161 N CLARK ST SUITE 700 CHICAGO,IL60601	NONE		UNRESTRICTED	500
NATIONAL MUSEUM UNITED STATES ARMY 1775 LIBERTY DRIVE FORT BELVOIR,VA22060	NONE		UNRESTRICTED	500
CHICAGO CITY DAY SCHOOL 541 W HAWTHORNE PLACE CHICAGO,IL60657	NONE		UNRESTRICTED	10,000
CATCH A LIFT 2066 YORK RD STE 201 LUTHERVILLE,MD21093	NONE		UNRESTRICTED	9,600
USO PO BOX 96860 WASHINGTON,DC20077	NONE		UNRESTRICTED	500
COLONIAL WILLIAMSBURG FOUNDATION 401 S ENGLAND ST WILLIAMSBURG,VA23185	NONE		FOLDS OF HONOR	1,000
ST JUDE CHILDREN'S RESEARCH HOSPITA 5501 N CUMBERLAND AVE 101 CHICAGO,IL60656	NONE		UNRESTRICTED	500
626 LANDMARK FOUNDATION 626 N MICHIGAN AVE CHICAGO,IL60611	NONE		UNRESTRICTED	5,000
MIAMI UNIVERSITY 501 E HIGH STREET OXFORD,OH45056	NONE		UNRESTRICTED	5,000
UNIVERSITY OF MIAMI 1320 S DIXIE HIGHWAY CORAL GABLES,FL33124	NONE		UNRESTRICTED	5,000
NURSES FOR NEWBORNS 1606 PORTER ROAD SUITE 200 NASHVILLE,TN37206	NONE		UNRESTRICTED	510
HOLLY CROSS SCHOOL 4900 STRATHMORE AVE GARRETT PARK,MD20896	NONE		UNRESTRICTED	5,000
INDIANA UNIVERSITY 107 S INDIANA AVENUE BLOOMINGTON,IN47405	NONE		UNRESTRICTED	5,000
WAKE FOREST UNIVERSITY 1834 WAKE FOREST ROAD WINSTONSALEM,NC27109	NONE		UNRESTRICTED	5,000
Total ................................. 3a				145,110

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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 ...........			14	434
4 Dividends and interest from securities ....			14	64,629
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	124,088
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) ..				189,151

13Total. Add line 12, columns (b), (d), and (e)..................

189,151

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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. Yes No
	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:	25022934
Software Version:	2025v4.1

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2025 AccountingFeesSchedule

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION	3,780	0	0	0

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ACCRUED INTEREST		2,599
AT&T INC 1.7%	15,377	16,912
ORACLE CORP 1.65%	10,878	11,932
GOLDMAN SACHS GROUP 1.431%	14,146	15,918
BANK OF AMERICA CORP 1.658%	15,101	16,921
BP CAPITAL MARKETS AMERICA INC 3.588%	6,794	6,981
JPMORGAN CHASE & CO 1.578%	9,922	10,918
CITIGROUP INC 1.462%	19,512	21,749
JPMORGAN CHASE & CO 1.47%	9,669	10,800
GOLDMAN SACHS GROUP 1.948%	14,997	16,714
AMGEN INC 2.45%	7,786	8,402
ORACLE CORP 2.95%	5,293	5,536
EQUINOR ASA 2.375%	6,159	6,523
ASTRAZENECA PLC 1.375%	8,874	9,786
BLACKROCK INC 1.9%	9,815	10,791
AT&T INC 2.25%	4,777	5,266
GOLDMAN SACHS GROUP 2.383%	3,906	4,483
CITIGROUP INC 2.52%	7,154	8,073
JPMORGAN CHASE & CO 2.545%	8,847	9,938
US BANCORP 2.677%	16,511	18,061
PHILLIP MORRIS INTERNATIONAL INC 4.875%	11,904	12,282
SHELL FINANCE US INC 2.75%	2,765	2,845
PHILIP MORRIS INTERNATIONAL INC 5.25%	11,857	12,415
COMCAST CORP 5.3%	3,001	3,098
BP CAPITAL MARKETS AMERICA INC 5.227%	12,976	13,435
ACCENTURE CAPITAL INC 4.05%	14,993	15,050
JOHNSON & JOHNSON 4.7%	3,003	3,092
CHEBRON USA INC 4.687%	6,015	6,143
LOCKHEED MARTIN CORP 4.4%	2,995	3,031
SHELL FINANCE US INC 4.125%	2,994	3,001
META PLATFORMS INC 4.2%	2,997	3,010
CHEVRON USA INC 4.819%	8,030	8,238
META PLATFORMS INC 4.6%	4,017	4,038
CHEVRON USA INC 4.98%	9,048	9,232
CHEVRON USA INC 4.85%	9,940	10,132
META PLATFORM INC 4.875%	2,005	2,001
SHELL FINANCE US INC 4.75%	6,000	5,996

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AMAZON COM INC	11,104	28,160
AMGEN INC	5,366	8,179
APPLE INC	33,325	57,906
ASML HOLDING NV	6,770	10,344
CULLEN FROST BANKERS INC	1,311	2,150
ECOLAB INC	2,701	4,266
EQUINIX INC	3,481	4,558
META PLATFORMS INC CL A	6,035	20,955
MICROSFT CORP	28,880	52,715
MONSTER BEVERAGE CORP	1,420	3,568
NVIDIA CORP	5,178	45,319
PALO ALTO NETWORKS INC	1,905	7,732
PAYPAL HOLDINGS INC	1,590	1,492
PROCTER & GAMBLE	9,395	9,521
R P M INC	1,205	2,114
RTX CORPORATION	1,423	4,362
SALESFORCE.COM INC	2,696	4,778
SONY GROUP CORP	1,025	1,836
THERMO FISHER SCIENTIFIC	14,114	20,474
UBER TECHNOLOGIES INC	1,263	3,846
UNITEDHEALTH GP INC	1,230	1,825
VISA INC CL A	6,386	15,472
WW GRAINGER INC	2,494	5,898
WALT DISNEY CO HLDG	2,209	2,877
CONSTELLATION BRANDS INC CL A	5,432	7,740
CROWN CASTLE INTL CORP	6,434	5,632
EATON CORP PLC	11,271	15,943
HONEYWELL INTL INC	14,388	15,166
INTUITIVE SURGICAL INC	4,182	7,001
NETFLIX INC	5,598	13,220
AGREE REALTY CORP	1,751	1,818
ALPHABET INC	10,718	25,123
ATLANTIC UN BANKSHARES CORP	2,394	2,413
AZENTA INC	1,347	1,121
BANK OF AMERICA CORP	5,441	5,775
BERKSHIRE HATHAWAY CL B	1,707	2,813
BIORAD LAB A	2,671	2,245
BJS WHSL CLUB HLDGS INC	2,484	3,102
BLACKSTONE INC	8,819	8,897
BRIGHT HORIZONS FAMILY SOLUT	1,817	2,222
BURLINGTON STORES	2,394	3,389
CAVCO INDUSTRIES INC	1,541	3,846
CHEVRON CORP	5,650	5,571
COGNEX CORP	2,386	1,863
COMFORT SYSTEMS USA INC	442	3,569
DORMAN PRODUCTS, INC	1,927	2,778
EAGLE MATERIALS INC	1,578	2,458
EASTGROUP PROPERTIES INC	1,438	1,702
ELEMENT SOLUTIONS INC	1,963	2,574
ENTEGRIS INC	1,844	2,131
EXXON MOBILE CORP	9,131	11,222
FEDERAL SIGNAL CORP	1,200	2,622
GATES INDUSTRIAL CORP PLC	1,724	3,135
GLACIER BANCORP INC	1,849	1,613
GLOBUS MEDICAL INC A	1,987	2,739
GRAND CANYON ED INC	1,409	2,014
HALOZYME THERAPEUTICS INC	1,486	2,006
HOME DEPOT INC	9,502	9,831
IDACORP INC	2,277	2,673
INTEGER HOLDINGS CORP	1,704	1,824
JAZZ PHARMACEUTICALS PLC	2,777	3,241
JOHNSON & JOHNSON	10,365	14,192
JPMORGAN CHASE & CO	11,369	26,215
KINSALE CAP GROUP INC	1,897	2,345
LINCOLN ELEC HLDGS INC	1,369	2,249
MAGNOLIA OIL & GAS CORP CL A	2,026	1,920
MANHATTAN ASOC INC	860	1,273
MARSH & MCLENNAN COS INC	4,155	4,460
MERCK & CO	7,028	7,850
NEUROCRINE BIOSCIENCES	2,396	3,008
NEXTERA ENERGY	7,241	8,590
NORDSON CP	3,024	3,149
OVINTIV INC	1,663	1,328
PAYLOCITY HOLDING CORP	2,312	1,826
PERFORMANCE FOOD GROUP	1,707	2,540
PINNACLE FINCL PARTNERS INC	1,171	1,528
PIPER SANDLER COMPANIES	1,767	4,426
PORTLAND GENERAL ELEC CO	1,683	1,721
QUAKER HOUGHTON	2,378	1,917
RBC BEARINGS INC	1,744	3,709
S&P GLOBAL INC	3,561	7,584
SAP AG	1,175	2,759
SCHNEIDER NATIONAL INC CL B	1,383	1,524
SHERWIN WILLIAMS COMPANY	8,532	11,381
STRYKER CORP	2,176	3,444
SUN COMMUNITIES INC	2,047	1,858
TAIWAN SEMICONDUCTOR MFG CO	4,309	12,960
TESLA INC	3,444	6,471
TEXAS ROADHOUSE INC CL A	1,768	3,104
VERICEL CORP	1,294	1,766
VOYA FINL INC	2,586	3,100
ASTRAZENECA PLC	4,983	6,390
COLGATE PALMOLIVE	7,406	7,404
INTUIT INC	4,925	6,110
ITT INC	1,705	3,223
MACOM TECHNOLOGY SOLUTIONS	1,789	4,522
MATADOR RES CO	1,832	1,273
MERCADOLIBRE INC	1,805	2,264
PROCORE TECHNOLOGIES	2,002	2,439
SEMPRA	9,757	10,860
STIFEL FINANCIAL CORPORATION	1,431	2,887
T-MOBILE US INC	7,315	8,287
TANDEM DIABETES CARE INC	1,795	1,747
UNION PACIFIC CORP	10,838	11,046
WINTRUST FIN CORP	1,247	2,464
AIRBNB INC	4,859	5,026
ANALOG DEVICES INC	8,949	11,614
API GROUP CORP	2,891	4,438
ASSURANT INC	2,467	2,790
AT&T INC	4,495	4,844
CHENIERE ENERGY INC	6,893	6,631
CHURCHILL DOWNS INC	2,665	2,641
CRH PLC	2,973	4,755
DELL TEHNOLOGIES INC	6,606	7,400
EMBRAER SA ADR	871	2,001
FREEPORT-MCMORAN CL-B	7,279	9,295
GROUP I AUTOMOTIVE INC	1,667	2,334
HEALTHPEAK PROPERTIES INC	1,542	1,167
INSMED INC	1,067	2,630
MCDONALDS CORP	5,141	5,508
MEDPACE HOLDINGS INC	1,432	2,386
NATERA INC	993	1,795
PACCAR INC	3,058	3,334
SIMPSON MANUFACTURING CO	1,635	1,543
SITEONE LANDSCAPE SUPPLY INC	2,690	2,154
SPOTIFY TECHNOLOGY SA	2,128	3,172
TRI POINTE HOMES INC	2,039	1,577
UMB FINANCIAL CORP	1,902	2,246
WASTE CONNECTIONS INC	3,140	3,183
ABBOTT LABORATORIES	5,318	5,094
ADVANCED ENERGY IND INC	2,454	3,487
AEROVIRONMNET INC	1,551	1,156
AIRBUS SE	3,023	3,956
ALIBABA GROUP HLDG	3,467	3,352
ALLEGION PUB LTD	1,257	1,450
ANTERO RES CORP	1,771	1,581
APPLIED IND TECH INC	1,423	1,522
ARISTA NETWORKS INC	854	836
ATLASSIAN CORPORATION CL A	3,821	3,786
BLOOM ENERGY CORP CL A	2,936	2,348
BROADCOM INC	3,369	6,013
CHIPOLTLE MEXICAN GRILL INC	3,851	3,737
CISCO SYSTEMS INC	5,463	5,403
COCA COLA CO	7,619	7,550
COCA COLA EUROPACIFIC PARTNERS	3,649	3,603
CREDO TECHNOLOGY GROUP HOLDING	1,020	1,165
DATADOG INC CL A	1,339	1,389
FERRARI NV	4,303	3,466
GENTHERM INC	2,332	1,377
GRAB HOLDINGS LTD	2,224	2,280
HAMILTON LANE CL A	1,511	1,465
ING GROEP NV	3,696	4,452
IONIS PHARMACEUTICALS INC	1,769	1,834
JABIL CIRCUIT INC	1,847	2,796
KEURIG DR PEPPER INC	6,536	5,462
LEVI STRAUSS & CO	2,034	2,074
LINDE PLC	4,150	3,922
LOCKHEED MARTIN CORP	4,473	4,560
MAKEMYTRIP LIMITED	2,387	1,893
MARVELL TECHNOLOGY INC	1,442	1,644
MARZETTI COMPANY	2,051	1,794
MOOG INC CL A	2,337	2,952
NOVANTA INC	1,333	1,527
ORACLE CORP	8,114	6,475
PFIZER INC	9,160	8,441
PHILIP MORRIS INTL INC	6,403	6,162
POOL CORP	1,571	1,179
POWELL IND INC	2,109	2,986
SAILPOINT INC	2,601	2,387
SERVICENOW INC	2,506	2,469
SLB LIMITED	7,766	6,716
SPX TECHNOLOGIES INC	1,844	1,910
STERLING INFRASTRUCTURE INC	1,491	1,469
SYNOPSYS INC	4,598	4,386
TJX COS INC	3,341	4,039
VERTEX PHARMACEUTICALS	4,724	5,309
WELLS FARGO & CO	10,620	13,421
WELLTOWER INC	3,555	4,783
SERVICETITAN INC CL A	1,292	1,315
CRINETICS PHARMACEUTICALS INC	1,171	1,202

- TIN:

TY 2025 InvestmentsGovtObligationsSch

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

US Government Securities - End of Year Book Value:

351,579

US Government Securities - End of Year Fair Market Value:

356,902

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2025 InvestmentsOtherSchedule2

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ISHARES EDGE MSCI MIN VOL USA	AT COST	74,195	133,707
VANGUARD GROWTH ETF	AT COST	50,139	93,669
VANGUARD HIGH DIV YIELD ETF	AT COST	41,550	66,163
COHEN & STEERS PREF SEC&INC	AT COST	82,449	80,110
PIMCO INCOME I2	AT COST	112,610	107,364
ISHARES MSCI CHINA ETF	AT COST	3,943	5,364
ISHARES SOUTH KOREA ETF	AT COST	3,295	5,638
FEDERATED HERMES CORP BD STRGY	AT COST	46,024	47,186
FEDERATED HERMES HI YLD STRGY	AT COST	20,374	21,390
FEDERATED HERMES INTL BD STRGY	AT COST	25,216	25,903
FEDERATED HERMES MTG STRATEGY	AT COST	232,338	241,358
ISHARES INC MSCI JAPAN ETF	AT COST	5,462	7,571
ISHARES MSCI INDIA ETF	AT COST	3,323	4,323
VANGUARD MEGA CAP GROWTH ETF	AT COST	66,473	93,699
VANGUARD TTL WORLD STK INDX	AT COST	32,249	48,243
STATE STREET SPDR BLOOMBERG	AT COST	2,307	2,303

- TIN:

TY 2025 OtherExpensesSchedule

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BOOK-TAX TIMING DIFFERENCES	-5,634
FEDERAL EXCISE TAX	2,000

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

SETHNESS ARNOLD FOUNDATION

EIN:

83-2099072

Software ID:

25022934

Software Version:

2025v4.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT EXPENSES	19,664	19,664	0	0