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
KULLMAN FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 1100 N MARKET STREET 4TH FL
  Room/suite
City or town
WILMINGTON
State or province
DE
Country  
ZIP or foreign postal code
19890
A Employer identification number

81-2068836
B Telephone number (see instructions)

3026518300
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)$22,876,323J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,940,140
2 Check .................
3 Interest on savings and temporary cash investments 76,008 76,008  
4 Dividends and interest from securities... 414,974 414,974  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 5,899,711
b Gross sales price for all assets on line 6a 12,383,642
7 Capital gain net income (from Part IV, line 2)... 5,899,711
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 9,330,833 6,390,693  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
7,200 0   7,200
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
105,942 105,942   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
4,305 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
25 0   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 117,472 105,942   7,225
25 Contributions, gifts, grants paid....... 825,000 825,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 942,472 105,942   832,225
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 8,388,361
b Net investment income (if negative, enter -0-) 6,284,751
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 227 1,195 1,195
2 Savings and temporary cash investments......... 460,640 930,234 930,234
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 7,485,902 Click to see attachment
List of Attached Documents:
// Content
14,050,610 		18,403,642
c Investments—corporate bonds (attach schedule)....... 4,336,738 Click to see attachment
List of Attached Documents:
// Content
3,132,881 		3,179,425
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 460,832 Click to see attachment
List of Attached Documents:
// Content
372,455 		361,827
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) 12,744,339 18,487,375 22,876,323
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........... 12,744,339 18,487,375
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)..... 12,744,339 18,487,375
30 Total liabilities and net assets/fund balances (see instructions). 12,744,339 18,487,375
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
12,744,339
2
Enter amount from Part I, line 27a .....................
2
8,388,361
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3 ..........................
4
21,132,700
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
2,645,325
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
18,487,375
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 66519.785 UNITS OF T ROWE PR HIGH YIELD-I   2024-01-01 2025-05-01
b 66519.785 UNITS OF T ROWE PR HIGH YIELD-I   2025-01-01 2025-05-01
c 31185.031 UNITS OF FEDERATED HERMES TTL RET BD CL R6   2024-01-01 2025-11-24
d 130 SHARES OF ADOBE INC   2024-01-01 2025-01-23
e 940 SHARES OF AMAZON.COM INC   2024-01-01 2025-01-23
300 SHARES OF APPLE INC   2024-01-01 2025-01-23
590 SHARES OF BLACKSTONE INC   2024-01-01 2025-01-23
1500 SHARES OF CORTEVA INC   2024-01-01 2025-01-23
1500 SHARES OF CORTEVA INC   2024-01-01 2025-01-23
2100 SHARES OF DOW INC   2024-01-01 2025-01-23
2000 SHARES OF DUPONT DE NEMOURS INC   2024-01-01 2025-01-23
9 SHARES OF FAIR ISAAC INC   2024-01-01 2025-01-23
3160 UNITS OF ISHARES GLOBAL REIT ETF   2024-01-01 2025-01-23
1314 UNITS OF ISHARES RUSSELL 2000 ETF   2024-01-01 2025-01-23
1314 UNITS OF ISHARES RUSSELL 2000 ETF   2025-01-01 2025-01-23
4025 SHARES OF NVIDIA CORP COM   2024-01-01 2025-01-23
169 SHARES OF UNITEDHEALTH GROUP INC   2024-01-01 2025-01-23
3639.415 UNITS OF VANGUARD COMMODITY STRAT   2024-01-01 2025-01-23
3639.415 UNITS OF VANGUARD COMMODITY STRAT   2025-01-01 2025-01-23
9000 SHARES OF CHEMOURS COMPANY   2024-01-01 2025-01-24
45 UNITS OF ISHARES GLOBAL REIT ETF   2024-01-01 2025-02-05
1622 UNITS OF ISHARES S&P 500 GROWTH ETF   2024-01-01 2025-02-05
190 UNITS OF ISHARES S&P 500 VALUE ETF   2024-01-01 2025-02-05
2928 UNITS OF ISHARES CORE MSCI EAFE ETF   2024-01-01 2025-07-24
1750 UNITS OF ISHARES CORE MSCI EMERGING   2024-01-01 2025-07-24
70 UNITS OF ISHARES S&P 500 GROWTH ETF   2024-01-01 2025-07-24
846 UNITS OF ISHARES CORE MSCI EMERGING   2024-01-01 2025-11-11
13850 UNITS OF ISHARES S&P 500 GROWTH ETF   2024-01-01 2025-11-11
13850 UNITS OF ISHARES S&P 500 GROWTH ETF   2025-01-01 2025-11-11
7823 UNITS OF ISHARES S&P 500 VALUE ETF   2024-01-01 2025-11-11
7174 UNITS OF ISHARES S&P SM-CAP 600 GROWTH ETF   2024-01-01 2025-11-11
7823 UNITS OF ISHARES S&P 500 VALUE ETF   2025-01-01 2025-11-11
7174 UNITS OF ISHARES S&P SM-CAP 600 GROWTH ETF   2025-01-01 2025-11-11
1094 UNITS OF ISHARES CORE MSCI EAFE ETF   2024-01-01 2025-11-21
216 UNITS OF ISHARES CORE MSCI EMERGING   2024-01-01 2025-11-21
257 UNITS OF ISHARES GLOBAL REIT ETF   2024-01-01 2025-11-21
507 UNITS OF ISHARES RUSSELL 1000 ETF   2024-01-01 2025-11-21
52 UNITS OF ISHARES RUSSELL 2000 ETF   2025-01-01 2025-11-21
230.812 UNITS OF VANGUARD COMMODITY STRAT FD   2024-01-01 2025-11-21
100 SHARES OF BLACKSTONE INC   2024-01-01 2025-01-22
150 SHARES OF BLACKSTONE INC   2024-01-01 2025-01-22
250 SHARES OF BLACKSTONE INC   2024-01-01 2025-01-22
90 SHARES OF BLACKSTONE INC   2024-01-01 2025-01-22
95 SHARES OF ADVANCED MICRO DEVICES INC COM   2025-01-01 2025-12-16
5 SHARES OF ALNYLAM PHARMACEUTICALS INC   2025-01-01 2025-12-16
40 SHARES OF AMPHENOL CORP NEW CL A   2025-01-01 2025-12-16
35 SHARES OF APPLIED MATERIALS INC COM   2025-01-01 2025-12-16
5 SHARES OF ARGAN INC   2025-01-01 2025-12-16
60 SHARES OF AVIDITY BIOSCIENCES INC   2025-01-01 2025-12-16
110 SHARES OF BLOOM ENERGY CORP CL A   2025-01-01 2025-12-16
710 SHARES OF BROADCOM INC   2025-01-01 2025-12-16
5 SHARES OF CENTRUS ENERGY CORP CL A   2025-01-01 2025-12-16
32 SHARES OF CONSTELLATION ENERGY CORP   2025-01-01 2025-12-16
20 SHARES OF CREDO TECHNOLOGY GROUP   2025-01-01 2025-12-16
1500 SHARES OF DUPONT DE NEMOURS INC   2025-01-01 2025-12-16
202 SHARES OF ELI LILLY & CO   2025-01-01 2025-12-16
865 SHARES OF EQT CORPORATION   2025-01-01 2025-12-16
33 SHARES OF FAIR ISAAC INC   2025-01-01 2025-12-16
51 SHARES OF GE VERNOVA LLC   2025-01-01 2025-12-16
56 SHARES OF HEICO CORPORATION   2025-01-01 2025-12-16
10 SHARES OF HOWMET AEROSPACE INC   2025-01-01 2025-12-16
125 SHARES OF IMPERIAL OIL LTD   2025-01-01 2025-12-16
185 SHARES OF KINROSS GOLD CORPORATION   2025-01-01 2025-12-16
15 SHARES OF KLA CORPORATION   2025-01-01 2025-12-16
300 SHARES OF LAM RESEARCH CORPORATION   2025-01-01 2025-12-16
291 SHARES OF MICROSOFT CORP   2025-01-01 2025-12-16
135 SHARES OF MICRON TECHNOLOGY INC COM   2025-01-01 2025-12-16
55 SHARES OF MODINE MFG CO COM   2025-01-01 2025-12-16
600 SHARES OF NETFLIX INC.   2025-01-01 2025-12-16
20 SHARES OF NRG ENERGY INC   2025-01-01 2025-12-16
9390 SHARES OF NVIDIA CORP COM   2025-01-01 2025-12-16
85 SHARES OF OVINTIV INC   2025-01-01 2025-12-16
205 SHARES OF RANGE RESOURCES CORPORATION   2025-01-01 2025-12-16
12 SHARES OF SANDISK CORP   2025-01-01 2025-12-16
25 SHARES OF SEAGATE TECHNOLOGY HOLDINGS PLC   2025-01-01 2025-12-16
30 SHARES OF SIEMENS ENERGY AG UNSPONS ADR   2025-01-01 2025-12-16
10 SHARES OF STERLING INFRASTRUCTURE INC   2025-01-01 2025-12-16
40 SHARES OF SUPER MICRO COMPUTER INC   2025-01-01 2025-12-16
85 SHARES OF TAPESTRY INC   2025-01-01 2025-12-16
10 SHARES OF UNITED RENTALS INC COM   2025-01-01 2025-12-16
60000 PAR VALUE OF CANADIAN IMPERIAL BK   2024-01-01 2025-01-07
80000 PAR VALUE OF STATE STREET CRP V-D   2025-01-01 2025-01-13
30000 PAR VALUE OF ABBVIE INC   2025-01-01 2025-01-21
60000 PAR VALUE OF ALPHABET INC   2024-01-01 2025-01-21
30000 PAR VALUE OF AMERICAN EXPRESS V-D   2024-01-01 2025-01-21
30000 PAR VALUE OF AMERICAN EXPRESS V-D   2025-01-01 2025-01-21
30000 PAR VALUE OF AMERICAN HONDA MTN   2024-01-01 2025-01-21
10000 PAR VALUE OF AMGEN INC   2024-01-01 2025-01-21
25000 PAR VALUE OF ASTRAZENECA PLC   2024-01-01 2025-01-21
30000 PAR VALUE OF BANK OF AMERICA V-Q   2024-01-01 2025-01-21
25000 PAR VALUE OF BK NOVA SCOTIA CONV   2025-01-01 2025-01-21
30000 PAR VALUE OF BLACKROCK FUNDING   2025-01-01 2025-01-21
10000 PAR VALUE OF CAN IMP BK CONV V-D   2025-01-01 2025-01-21
30000 PAR VALUE OF CHEVRON USA INC   2024-01-01 2025-01-21
30000 PAR VALUE OF ELI LILLY & CO   2024-01-01 2025-01-21
30000 PAR VALUE OF ENTERPRISE PRODU   2024-01-01 2025-01-21
30000 PAR VALUE OF GOLDMAN SACHS GP V-D   2025-01-01 2025-01-21
60000 PAR VALUE OF HERSHEY COMPANY   2024-01-01 2025-01-21
30000 PAR VALUE OF IBM CORP   2024-01-01 2025-01-21
30000 PAR VALUE OF JPMORGAN CHASE V-Q   2024-01-01 2025-01-21
55000 PAR VALUE OF MORGAN STANLEY MTN   2024-01-01 2025-01-21
35000 PAR VALUE OF NEXTERA ENERGY   2024-01-01 2025-01-21
30000 PAR VALUE OF NORTHERN TRUST CORP   2024-01-01 2025-01-21
30000 PAR VALUE OF PFIZER INVT ENTER   2024-01-01 2025-01-21
10000 PAR VALUE OF PNC FINANCIAL SVCS   2024-01-01 2025-01-21
30000 PAR VALUE OF STATE STREET V-D   2025-01-01 2025-01-21
30000 PAR VALUE OF TORONTO-DOM BANK MTN   2024-01-01 2025-01-21
25000 PAR VALUE OF TOYOTA MTR CR MTN   2024-01-01 2025-01-21
25000 PAR VALUE OF UNION PAC CORP   2024-01-01 2025-01-21
25000 PAR VALUE OF UNION PAC CORP   2025-01-01 2025-01-21
30000 PAR VALUE OF US BANCORP V-D   2025-01-01 2025-01-21
30000 PAR VALUE OF WALMART INC   2024-01-01 2025-01-21
35000 PAR VALUE OF WEC ENERGY GROUP INC   2024-01-01 2025-01-21
15000 PAR VALUE OF WELLS FARGO & CO MTN   2025-01-01 2025-01-21
50000 PAR VALUE OF WELLS FARGO & CO MTN   2025-01-01 2025-05-23
50000 PAR VALUE OF WALMART INC   2024-01-01 2025-05-29
50000 PAR VALUE OF WALMART INC   2025-01-01 2025-05-29
20000 PAR VALUE OF TORONTO-DOM BANK MTN   2024-01-01 2025-07-18
5000 PAR VALUE OF WELLS FARGO & CO MTN   2024-01-01 2025-07-18
35000 PAR VALUE OF TORONTO-DOM BANK MTN   2024-01-01 2025-09-03
20000 PAR VALUE OF UNION PAC CORP   2024-01-01 2025-09-03
20000 PAR VALUE OF GENERAL DYNAMICS   2024-01-01 2025-09-17
30000 PAR VALUE OF UNION PAC CORP   2024-01-01 2025-09-17
50000 PAR VALUE OF NORTHERN TRUST CORP   2024-01-01 2025-09-25
35000 PAR VALUE OF CHEVRON USA INC   2024-01-01 2025-10-31
15000 PAR VALUE OF GENERAL DYNAMICS   2024-01-01 2025-11-04
750 SHARES OF QNITY ELECTRONICS INC   2025-01-01 2025-12-17
(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 6,261     6,261
b 382,214   385,000 -2,786
c 300,000   302,807 -2,807
d 56,322   14,164 42,158
e 220,525   35,247 185,278
67,875   8,583 59,292
108,331   12,220 96,111
94,336   1,780 92,556
98,271   20,231 78,040
86,307   29,171 57,136
155,219   40,300 114,919
16,535   1,015 15,520
75,636   71,140 4,496
34,578     34,578
264,062   258,930 5,132
587,058   12 587,046
88,902   22,808 66,094
1,069     1,069
96,067   94,350 1,717
178,146   6,374 171,772
1,104   938 166
169,737   99,590 70,147
37,275   28,142 9,133
248,954   211,013 37,941
107,935   108,596 -661
7,926   4,240 3,686
57,864   49,768 8,096
959,040     959,040
752,643   710,756 41,887
467,425     467,425
69,738     69,738
1,174,125   1,139,336 34,789
938,765   937,245 1,520
93,999   79,498 14,501
14,085   12,707 1,378
6,432   5,835 597
182,392   143,586 38,806
12,165   12,657 -492
6,742   5,528 1,214
135   135 0
202   202 0
337   337 0
121   121 0
19,622   1,064 18,558
1,985   208 1,777
5,169   590 4,579
8,965   918 8,047
1,610   174 1,436
4,309   344 3,965
9,337   1,067 8,270
240,221   14,388 225,833
1,132   114 1,018
11,340   1,019 10,321
2,800   302 2,498
60,633   6,501 54,132
213,000   13,902 199,098
46,334   4,887 41,447
59,388   3,797 55,591
34,615   2,112 32,503
17,364   1,960 15,404
1,945   236 1,709
10,735   1,180 9,555
5,164   492 4,672
18,164   1,146 17,018
48,445   4,023 44,422
137,599   16,570 121,029
31,497   2,354 29,143
7,715   459 7,256
56,352   66,642 -10,290
3,180   245 2,935
1,654,346   114,420 1,539,926
3,191   264 2,927
7,073   482 6,591
2,454   347 2,107
7,146   774 6,372
4,212   300 3,912
3,202   212 2,990
1,260   128 1,132
10,480   893 9,587
8,220   748 7,472
59,924   60,030 -106
80,107   79,872 235
30,006   29,919 87
54,880   58,618 -3,738
155     155
30,186   30,100 86
28,416   29,977 -1,561
8,960   9,958 -998
24,753   25,158 -405
28,732   27,763 969
25,406   25,728 -322
30,060   29,963 97
10,001   10,000 1
27,489   30,000 -2,511
28,593   28,798 -205
29,989   29,969 20
29,650   29,523 127
59,506   59,914 -408
28,553   29,942 -1,389
28,840   28,140 700
54,835   55,050 -215
31,697   34,979 -3,282
29,603   30,181 -578
29,671   29,811 -140
9,700   10,033 -333
27,441   27,213 228
28,926   29,732 -806
25,362   24,769 593
24,957   24,981 -24
108     108
29,717   29,320 397
29,325   29,942 -617
31,964   35,076 -3,112
14,883   14,812 71
49,799   49,544 255
370     370
49,193   48,902 291
19,674   19,822 -148
4,989   4,960 29
34,570   34,054 516
20,027   19,942 85
19,612   19,970 -358
30,039   29,915 124
50,040   49,690 350
33,340   33,939 -599
14,762   14,975 -213
57,773   9,323 48,450
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       6,261
b       -2,786
c       -2,807
d       42,158
e       185,278
      59,292
      96,111
      92,556
      78,040
      57,136
      114,919
      15,520
      4,496
      34,578
      5,132
      587,046
      66,094
      1,069
      1,717
      171,772
      166
      70,147
      9,133
      37,941
      -661
      3,686
      8,096
      959,040
      41,887
      467,425
      69,738
      34,789
      1,520
      14,501
      1,378
      597
      38,806
      -492
      1,214
      0
      0
      0
      0
      18,558
      1,777
      4,579
      8,047
      1,436
      3,965
      8,270
      225,833
      1,018
      10,321
      2,498
      54,132
      199,098
      41,447
      55,591
      32,503
      15,404
      1,709
      9,555
      4,672
      17,018
      44,422
      121,029
      29,143
      7,256
      -10,290
      2,935
      1,539,926
      2,927
      6,591
      2,107
      6,372
      3,912
      2,990
      1,132
      9,587
      7,472
      -106
      235
      87
      -3,738
      155
      86
      -1,561
      -998
      -405
      969
      -322
      97
      1
      -2,511
      -205
      20
      127
      -408
      -1,389
      700
      -215
      -3,282
      -578
      -140
      -333
      228
      -806
      593
      -24
      108
      397
      -617
      -3,112
      71
      255
      370
      291
      -148
      29
      516
      85
      -358
      124
      350
      -599
      -213
      48,450
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 5,899,711
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 87,358
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 87,358
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 87,358
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 11,152
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 11,152
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 76,206
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
DE
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. Click to see attachment
List of Attached Documents:
// Content
...............................
10
Yes
 
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofCIRCUMFERENCE FS USA INC Telephone no. (302) 651-1000

Located at1100 N MARKET STREET 4TH FLWILMINGTONDE ZIP+419890
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
STEPHEN KULLMAN PRESIDENT/CLASS A DIRECTOR
1.00 		0 0 0
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
MARGARET KULLMAN TREASURER/CLASS A DIRECTOR
1.00 		0 0 0
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
DAVID KULLMAN SECRETARY/CLASS A DIRECTOR
1.00 		0 0 0
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
ELLEN J KULLMAN VICE PRESIDENT/CLASS A DIRECTOR
1.00 		0 0 0
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
MICHAEL E KULLMAN VICE PRESIDENT/CLASS A DIRECTOR
1.00 		0 0 0
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
CIRCUMFERENCE FS (USA) INC INVESTMENT MANAGEMENT 105,942
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
19,121,635
b
Average of monthly cash balances.......................
1b
909
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
19,122,544
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
19,122,544
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
286,838
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
18,835,706
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
941,785
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
941,785
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
87,358
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
87,358
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
854,427
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
854,427
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
854,427
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
832,225
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
832,225
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 7 854,427
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 828,858
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 832,225
a Applied to 2024, but not more than line 2a 828,858
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 3,367
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2025. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		851,060
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
KULLMAN FAMILY FOUNDATION
1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
(302) 651-8300
bThe form in which applications should be submitted and information and materials they should include:
GRANT APPLICATIONS CAN BE SUBMITTED TO THE FOUNDATION FROM QUALIFIED IRC SECTION 501(C)(3) ORGANIZATIONS, SUPPORTED BY SUCH FOLLOW-UP DETAIL AND BUDGETING INFORMATION AS THE BOARD MAY REQUIRE.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
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

BOYS AND GIRLS CLUB OF DELAWARE

669 S UNION STREET
WILMINGTON,DE19805 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 100,000

CENTER FOR REPRODUCTIVE RIGHTS

199 WATER STREET 22ND FLOOR
NEW YORK,NY10038 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 25,000

DELAWARE ART MUSEUM

2301 KENTMERE PARKWAY
WILMINGTON,DE19806 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 50,000

DELAWARE THEATRE COMPANY

200 WATER STREET
WILMINGTON,DE19801 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 10,000

HAGLEY MUSEUM & LIBRARY

200 HAGLEY CREEK RD
WILMINGTON,DE19807 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 100,000

JOHNS HOPKINS BLOOMBERG SCHOOL OF PUBLIC HEALTH DEVELOPMENT

750 E PRATT STREET 14TH FLOOR
BALTIMORE,MD21202 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 10,000

PARADIGM FOR PARITY INC

C/O BETH KENT 6 SEDGEWICK VILLAGE
LANE
DARIEN,CT06820 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 35,000

PHILABUNDANCE

3616 S GALLOWAY STREET
PHILADELPHIA,PA19148 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 25,000

TOWER HILL SCHOOL

2813 W 17TH STREET
WILMINGTON,DE19806 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 100,000

UNIVERSITY OF PENNSYLVANIA

3451 WALNUT STREET SUITE 305
PHILADELPHIA,PA19104 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 200,000

WHITNEY MUSEUM OF AMERICAN ART

C/O MICHELE SNYDER 99 GANSEVOORT
STREET
NEW YORK,NY10014 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 5,000

JOHNS HOPKINS UNIVERSITY

3400 N CHARLES ST
BALTIMORE,MD21218 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 125,000

LONGWOOD GARDENS INC

1001 LONGWOOD ROAD
KENNETT SQUARE,PA19348 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 10,000

NATIVE EDUCATIONAL RESOURCES PROJECT INC

13 THE TERRACE
KATONAH,NY10536 		NONE   TO SUPPORT CHARITABLE ENDEAVORS 30,000
Total ................................. 3a 825,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 76,008  
4 Dividends and interest from securities ....     14 414,974  
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 5,899,711  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 6,390,693 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
6,390,693
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


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

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

81-2068836
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
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 97,950


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 59,490


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
3
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,283,171


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
4
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 60,210


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
5
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 36,720


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
6
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,782


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
7
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 4,292


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
8
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 12,990


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
9
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 99,068


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
10
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,393


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
11
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 2,212


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
12
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 3,618


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
13
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 13,211


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
14
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,963


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
15
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 11,764


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
16
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 5,058


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
17
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,504


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
18
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 329,167


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
19
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 2,560


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
20
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 4,095


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
21
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 3,323


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
22
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 20,707


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
23
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 2,291


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
24
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 5,574


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
25
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 9,380


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
26
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 119,803


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
27
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 9,355


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
28
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 204,083


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
29
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 52,488


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
30
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 59,351


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
31
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 18,940


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
32
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 17,483


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
33
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 18,217


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
34
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 47,610


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
35
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 32,025


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
36
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 103,879


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
37
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 60,144


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
38
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 3,260


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
39
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 82,084


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
40
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 3,594


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
41
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 8,118


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
42
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 6,970


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number
81-2068836
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
43
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 1,388


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
44
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 9,886


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
45
MICHAEL ELLEN KULLMAN
1100 N MARKET STREET 4TH FL
 
WILMINGTON, DE19890

$ 7,969


(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
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 1500 SHARES OF CORTEVA INC $ 97,950 2025-12-03
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
2
 1500 SHARES OF DUPONT DE NEMOURS INC $ 59,490 2025-12-03
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
3
 7145 SHARES OF NVIDIA CORP COM $ 1,283,171 2025-12-03
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
4
 750 SHARES OF QNITY ELECTRONICS INC $ 60,210 2025-12-03
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
5
 76 SHARES OF MICROSOFT CORP $ 36,720 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
6
 5 SHARES OF ARGAN INC $ 1,782 2025-12-04
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
7
 60 SHARES OF AVIDITY BIOSCIENCES INC $ 4,292 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
8
 110 SHARES OF BLOOM ENERGY CORP $ 12,990 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
9
 260 SHARES OF BROADCOM INC $ 99,068 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
10
 5 SHARES OF CENTRUS ENERGY CORP CL A $ 1,393 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
11
 6 SHARES OF CONSTELLATION ENERGY CORP $ 2,212 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
12
 20 SHARES OF CREDO TECHNOLOGY GROUP $ 3,618 2025-12-04
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
13
 21 SHARES OF GE VERNOVA LLC $ 13,211 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
14
 10 SHARES OF HOWMET AEROSPACE INC $ 1,963 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
15
 125 SHARES OF IMPERIAL OIL LTD $ 11,764 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
16
 185 SHARES OF KINROSS GOLD CORPORATION $ 5,058 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
17
 55 SHARES OF MODINE MFG CO COM $ 1,504 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
18
 1795 SHARES OF NVIDIA CORP COM $ 329,167 2025-12-04
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
19
 12 SHARES OF SANDISK CORP $ 2,560 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
20
 30 SHARES OF SIEMENS ENERGY AG UNSPONS $ 4,095 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
21
 10 SHARES OF STERLING INFRASTRUCTURE INC $ 3,323 2025-12-04
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
22
 95 SHARES OF ADVANCED MICRO DEVICES INC $ 20,707 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
23
 5 SHARES OF ALNYLAM PHARMACEUTICALS INC $ 2,291 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
24
 40 SHARES OF AMPHENOL CORP NEW CL A $ 5,574 2025-12-05
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
25
 35 SHARES OF APPLIED MATERIALS INC COM $ 9,380 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
26
 450 SHARES OF BROADCOM INC $ 119,803 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
27
 26 SHARES OF CONSTELLATION ENERGY CORP $ 9,355 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
28
 202 SHARES OF ELI LILLY & CO $ 204,083 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
29
 865 SHARES OF EQT CORPORATION GIFT $ 52,488 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
30
 33 SHARES OF FAIR ISAAC INC $ 59,351 2025-12-05
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
31
 30 SHARES OF GE VERNOVA LLC $ 18,940 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
32
 56 SHARES OF HEICO CORPORATION $ 17,483 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
33
 15 SHARES OF KLA CORPORATION $ 18,217 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
34
 300 SHARES OF LAM RESEARCH CORPORATION $ 47,610 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
35
 135 SHARES OF MICRON TECHNOLOGY INC $ 32,025 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
36
 215 SHARES OF MICROSOFT CORP $ 103,879 2025-12-05
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
37
 600 SHARES OF NETFLIX INC. $ 60,144 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
38
 20 SHARES OF NRG ENERGY INC $ 3,260 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
39
 450 SHARES OF NVIDIA CORP COM $ 82,084 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
40
 85 SHARES OF OVINTIV INC $ 3,594 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
41
 205 SHARES OF RANGE RESOURCES $ 8,118 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
42
 25 SHARES OF SEAGATE TECHNOLOGY HOLDINGS $ 6,970 2025-12-05
Schedule B (Form 990) (Rev. 1-2025)
Name of organization
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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
43
 40 SHARES OF SUPER MICRO COMPUTER INC $ 1,388 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
44
 85 SHARES OF TAPESTRY INC $ 9,886 2025-12-05
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
45
 10 SHARES OF UNITED RENTALS INC $ 7,969 2025-12-05
(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
KULLMAN FAMILY FOUNDATION
  		Employer identification number

81-2068836
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:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 7,200 0   7,200

TY 2025 InvestmentsCorpBondsSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Name of Bond End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED CORPORATE BONDS 3,132,881 3,179,425

TY 2025 InvestmentsCorpStockSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Name of Stock End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED SECURITIES 14,050,610 18,403,642

TY 2025 InvestmentsOtherSchedule2
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
INVESTMENTS - OTHER AT COST 372,455 361,827

TY 2025 OtherDecreasesSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Description Amount
FMV DIFFERENTIAL ON DONATED STOCK 2,645,325


TY 2025 OtherExpensesSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK SERVICE CHARGES 25 0   25


TY 2025 OtherProfessionalFeesSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 105,942 105,942   0


TY 2025 SubstantialContributorsSch
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Name Address
ELLEN KULLMAN 1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890
MICHAEL KULLMAN 1100 N MARKET STREET 4TH FL
WILMINGTON,DE19890


TY 2025 TaxesSchedule
Name:
KULLMAN FAMILY FOUNDATION
EIN:
81-2068836
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DE FRANCHISE TAX 25 0   0
FEDERAL FORM 990-PF EXCISE TAX 4,280 0   0