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
IGER BAY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 200 BELLEVUE PARKWAY SUITE 250
  Room/suite
City or town
WILMINGTON
State or province
DE
Country  
ZIP or foreign postal code
198093747
A Employer identification number

80-0875813
B Telephone number (see instructions)

3026884350
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)$16,216,066J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 477,046 477,046  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 588,792
b Gross sales price for all assets on line 6a 3,766,715
7 Capital gain net income (from Part IV, line 2)... 588,792
8 Net short-term capital gain......... 0
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........ 1,065,838 1,065,838  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 44,167     44,167
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
29,142 29,142   0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
30,359 2,851   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 103,668 31,993 0 44,167
25 Contributions, gifts, grants paid....... 3,164,834 3,164,834
26 Total expenses and disbursements. Add lines 24 and 25 ................ 3,268,502 31,993 0 3,209,001
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,202,664
b Net investment income (if negative, enter -0-) 1,033,845
c Adjusted net income (if negative, enter -0-)... 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............. 11,582 92,699 92,699
2 Savings and temporary cash investments......... 1,692,316 916,463 916,463
3 Accounts receivable  
Less: allowance for doubtful accounts     0 0
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 0      
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)....... 6,327,443 Click to see attachment
List of Attached Documents:
// Content
4,771,757 		7,223,710
c Investments—corporate bonds (attach schedule)....... 7,478,139 Click to see attachment
List of Attached Documents:
// Content
7,561,603 		7,681,013
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 298,204 Click to see attachment
List of Attached Documents:
// Content
298,285 		302,181
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) 15,807,684 13,640,807 16,216,066
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 ) 1,250,000  
23 Total liabilities (add lines 17 through 22)......... 1,250,000 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 14,557,684 13,640,807
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)..... 14,557,684 13,640,807
30 Total liabilities and net assets/fund balances (see instructions). 15,807,684 13,640,807
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
14,557,684
2
Enter amount from Part I, line 27a .....................
2
-2,202,664
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
1,285,787
4
Add lines 1, 2, and 3 ..........................
4
13,640,807
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
13,640,807
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 14833.127 ISHARES MSCI EAFE   2024-01-29 2025-02-10
b 544.861 ISHARES RUSSELL 2000     2025-02-10
c 3432.864 ISHARES RUSSELL 2000   2022-04-25 2025-02-10
d 58094.926 FEDERATED HERMES     2025-02-10
e 7457.122 FIDELITY     2025-02-10
977.444 STATE STREET EMERGING   2022-03-25 2025-02-10
44000. WELLS FARGO & COMPANY FEB 11 2026 2.164   2022-04-01 2025-02-11
40000. BANK OF AMERICA CORPORATION FEB 13 2026 2.015   2023-01-31 2025-02-13
34000. DISCOVER FINANCIAL SVS MAR 4 2025 3.75   2023-03-17 2025-03-04
61000. ABBVIE INC. MAY 14 2025 3.6   2023-03-03 2025-05-14
35000. TORONTO-DOMINION BANK (THE) JUN 12 2025 1.15   2023-01-31 2025-06-12
39000. SYNCHRONY FINANCIAL JUL 23 2025 4.5   2023-03-03 2025-07-23
54000. CAPITAL ONE FINANCIAL CORPORAT JUL 24 2026 4.985   2023-01-31 2025-07-24
38000. SIMON PROPERTY GROUP L.P. SEP 1 2025 3.5   2022-04-01 2025-09-01
36000. AIR LEASE CORP AUG 15 2026 1.875   2023-01-31 2025-10-08
45000. BANK OF AMERICA CORPORATION OCT 24 2026 1.197   2022-04-01 2025-10-24
4859.086 FIDELITY   2022-03-25 2025-11-12
8501.594 FIDELITY   2022-04-25 2025-11-12
434000. U.S. TREASURY NOTE APR 30 2026 0.75   2022-05-03 2025-11-13
36000. INTERCONTINENTAL EXCHANGE, INC DEC 1 2025 3.75   2023-03-03 2025-12-01
18963.783 ISHARES MSCI EAFE   2024-01-29 2025-12-10
5502.846 EATON VANCE   2022-03-25 2025-12-10
13377.926 FIDELITY   2022-03-25 2025-12-10
4893.617 FIDELITY   2022-04-25 2025-12-10
2921.772 GS TACTICAL TILT   2022-05-25 2025-12-10
38000. MORGAN STANLEY DEC 10 2026 0.985   2023-01-31 2025-12-10
5360.825 PGIM   2025-02-10 2025-12-10
650.426 STATE STREET EMERGING     2025-12-10
83000. CIGNA CORPORATION FEB 25 2026 4.5   2023-03-03 2025-12-31
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
(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 240,000   225,904 14,096
b 13,698   14,079 -381
c 86,302   77,514 8,788
d 518,207   522,755 -4,548
e 300,000   216,243 83,757
65,000   68,020 -3,020
44,000   42,507 1,493
40,000   37,528 2,472
34,000   32,587 1,413
61,000   58,660 2,340
35,000   32,208 2,792
39,000   37,524 1,476
54,000   53,646 354
38,000   38,000  
35,277   32,057 3,220
45,000   41,516 3,484
100,000   79,495 20,505
400,000   210,925 189,075
427,997   397,688 30,309
36,000   34,654 1,346
377,000   288,813 88,187
29,000   29,140 -140
280,000   218,863 61,137
230,000   121,411 108,589
31,000   29,919 1,081
38,000   33,815 4,185
26,000   25,893 107
55,000   42,639 12,361
83,000   81,051 1,949
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
      5,234
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       14,096
b       -381
c       8,788
d       -4,548
e       83,757
      -3,020
      1,493
      2,472
      1,413
      2,340
      2,792
      1,476
      354
       
      3,220
      3,484
      20,505
      189,075
      30,309
      1,346
      88,187
      -140
      61,137
      108,589
      1,081
      4,185
      107
      12,361
      1,949
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 588,792
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 14,370
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 14,370
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 14,370
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 48,754
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 48,754
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 34,384
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax34,384 Refunded 11 0
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the 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
 
No
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
DE
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website address  
14
The books are in care ofThe Goldman Sachs Trust Company of Delaware Telephone no. (302) 688-4350

Located at200 BELLEVUE PARKWAY SUITE 250WILMINGTONDE ZIP+4198093747
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
GOLDMAN SACHS TRUST COMPANY OF DE TRUSTEE (ADMIN)
3 		44,167    
200 BELLEVUE PARKWAY SUITE 250
WILMINGTON,DE198093747
ROBERT A IGER TRUSTEE(INDIVIDUAL)
1 		0    
200 BELLEVUE PARKWAY SUITE 250
WILMINGTON,DE198093747
KRISTINE BAY TRUSTEE(INDIVIDUAL)
1 		0    
200 BELLEVUE PARKWAY SUITE 250
WILMINGTON,DE198093747
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
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
16,256,261
b
Average of monthly cash balances.......................
1b
1,207,828
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
17,464,089
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
17,464,089
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
261,961
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
17,202,128
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
860,106
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
860,106
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
14,370
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
14,370
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
845,736
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
845,736
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
845,736
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
3,209,001
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
3,209,001
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 7 845,736
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 3,945,352
b From 2021...... 7,255,397
c From 2022...... 6,250,637
d From 2023...... 2,264,124
e From 2024...... 1,737,246
f Total of lines 3a through e ........ 21,452,756
4Qualifying distributions for 2025 from Part
XI, line 4: $ 3,209,001
a Applied to 2024, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		0
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 845,736
e Remaining amount distributed out of corpus 2,363,265
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 23,816,021
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		3,945,352
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		19,870,669
10 Analysis of line 9:
a Excess from 2021 .... 7,255,397
b Excess from 2022 .... 6,250,637
c Excess from 2023 .... 2,264,124
d Excess from 2024 .... 1,737,246
e Excess from 2025 .... 2,363,265
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

THE ONE CAMPAIGN

1299 PENNSYLVANIA AVE
WASHINGTON,DC20004 		NONE   GENERAL 25,000

TRUSTEES OF PHILLIPS ACADEMY

180 MAIN ST
ANDOVER,MA01810 		NONE   GENERAL 10,000

SESAME WORKSHOP

1900 BROADWAY
NEW YORK,NY100237004 		NONE   GENERAL 5,000

PEN AMERICAN CENTER

588 BROADWAY SUITE 303
NEW YORK,NY10012 		NONE   GENERAL 25,000

BREAST CANCER RESEARCH FOUNDATION

25 W 43RD ST STE 609
NEW YORK CITY,NY10036 		NONE   GENERAL 5,000

NEW YORK PRESBYTERIAN HOSPITAL

466 LEXINGTON AVE
NEW YORK,NY100173140 		NONE   GENERAL 25,000

BANK STREET COLLEGE OF EDUCATION

610 W 112TH STREET
NEW YORK,NY10025 		NONE   GENERAL 10,000

CATHOLIC CHARITIES ARCHDIOCESE
OF NEW YORK
1011 FIRST AVENUE 11TH FLOOR
NEW YORK,NY10022 		NONE   GENERAL 5,000

EVERYTOWN FOR GUN SAFETY SUPPORT FUND

PO BOX 3886
NEW YORK,NY101630000 		NONE   GENERAL 25,000

WORLD CENTRAL KITCHEN

PO BOX 96538
WASHINGTON,DC20090 		NONE   GENERAL 100,000

WORLD TRADE CENTER PERFORMING ARTS
CENTER INC
1 LIBERTY PLZ FL 29
NEW YORK CITY,NY10006 		NONE   GENERAL 100,000

SANDY HOOK PROMISE FOUNDATION

PO BOX 3489
NEWTOWN,CT06470 		NONE   GENERAL 33,334

ALLIANCE COLLEGE-READY PUBLIC SCHOOLS

5101 SANTA MONICA BLVD STE 8
LOS ANGELES,CA90029 		NONE   GENERAL 15,000

INTERNATIONAL WOMENS MEDIA FOUNDATION

1625 K STREET NW SUITE 1275
WASHINGTON,DC20006 		NONE   GENERAL 25,000

HOWARD UNIVERSITY

2244 10TH STREET
WASHINGTON,DC20059 		NONE   GENERAL 500,000

CATHOLIC CHARITIES ARCHDIOCESE OF
NEW ORLEANS
1000 HOWARD AVENUE STE 200
NEW ORLEANS,LA70113 		NONE   GENERAL 1,000

TEXAS EXES - EX STUDENTS ASSOCIATION
OF THE UNIVERSITY OF TEXAS
PO BOX 7278
AUSTIN,TX78713 		NONE   GENERAL 500,000

CHILD MIND INSTITUTE

101 EAST 56TH STREET
NEW YORK,NY10022 		NONE   GENERAL 25,000

UNIVERSITY OF SOUTHERN CALIFORNIA

3551 TROUSDALE PKWY
LOS ANGELES,CA90089 		NONE   GENERAL 20,000

JEWISH FEDERATION OD GREATER LOS ANGELES

6505 WILSHIRE BLVD
LOS ANGELES,CA90048 		NONE   GENERAL 5,000

ALLIANCE FOR CHILDREN'S RIGHTS

4525 WILSHIRE BLVD
LOS ANGELES,CA90010 		NONE   GENERAL 25,000

PACIFIC COUNCIL ON INTERNATIONAL POLICY

725 S FIGUEROA ST STE 450
LOS ANGELES,CA900175412 		NONE   GENERAL 20,000

LOS ANGELES COUNTY MUSEUM OF ART

5005 WILSHIRE BLVD
LOS ANGELES,CA50036 		NONE   GENERAL 1,100,000

CHILDREN'S HOSPITAL

4650 SUNSET BLVD LOS ANGELES
LOS ANGELES,CA90027 		NONE   GENERAL 20,000

ELIZABETH GLASER PEDIATRIC
AIDS FOUNDATION
1140 CONNECTICUT AVENUE NW SUITE 2
WASHINGTON,DC20036 		NONE   GENERAL 100,000

ITHACA COLLEGE

953 DANBY ROAD
ITHACA,NY14850 		NONE   GENERAL 50,000

THE MUSEUM OF MODERN ART

11 W 53RD ST
NEW YORK,NY10019 		NONE   GENERAL 500

LOS ANGELES REGIONAL FOOD BANK

1734 E 41ST ST
LOS ANGELES,CA90058 		NONE   GENERAL 10,000

TARGET MARGIN THEATER

232 52ND ST
BROOKLYN,NY11220 		NONE   GENERAL 35,000

YOUNG EISNER SCHOLARS

PO BOX 3085
Inglewood,CA90304 		NONE   GENERAL 75,000

CAMPBELL HALL

4533 LAUREL CANYON BLVD
NORTH HOLLYWOOD,CA90048 		NONE   GENERAL 10,000

THE UNIVERSITY OF TEXAS AT AUSTIN

1 UNIVERSITY STATION
AUSTIN,TX78712 		NONE   GENERAL 250,000

TRUSTEES OF THE UNIVERSITY OF
PENNSYLVANIA
3451 WALNUT STREET
PHILADELPHIA,PA19104 		NONE   GENERAL 10,000
Total ................................. 3a 3,164,834
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 477,046  
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 ............ 		    18 588,792  
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) ..   1,065,838  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,065,838
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 InvestmentsCorpBondsSchedule
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Name of Bond End of Year Book Value End of Year Fair Market Value
46647PCB0 JPMORGAN CHASE & CO. 41,008 41,815
91282CBR1 U.S. TREASURY NOTE 0    
91282CCL3 U.S. TREASURY NOTE 0    
912828ZN3 U.S. TREASURY NOTE 0 89,249 88,541
912828ZV5 U.S. TREASURY NOTE 0 299,538 296,668
912828ZE3 U.S. TREASURY NOTE 0 232,681 231,124
91282CAE1 U.S. TREASURY NOTE 0 86,322 84,710
91282CBW0 U.S. TREASURY NOTE 0 135,997 135,916
91282CBS9 U.S. TREASURY NOTE 1 120,812 119,388
91282CBZ3 U.S. TREASURY NOTE 1 131,212 129,511
91282CCE9 U.S. TREASURY NOTE 1 131,382 130,071
91282CCS8 U.S. TREASURY NOTE 1 156,826 151,726
91282CEC1 U.S. TREASURY NOTE 1 83,848 83,966
91282CEB3 U.S. TREASURY NOTE 1 412,372 418,913
00912XAX2 AIR LEASE CORP 2.75%    
015271AY5 ALEXANDRIA REAL ESTA 51,456 49,376
032095AJ0 AMPHENOL CORP 2.8% 0 44,499 45,171
00206RMM1 AT&T INC. 2.55% 12/0 31,445 30,856
05329WAQ5 AUTONATION INC 4.75% 50,178 51,717
05526DBP9 B.A.T. CAPITAL CORPO 34,018 34,630
06051GJQ3 BANK OF AMERICA CORP 40,130 41,017
06051GJK6 BANK OF AMERICA CORP    
06368BQ68 BANK OF MONTREAL HYB    
06368EDC3 BANK OF MONTREAL HYB 45,106 46,104
06406RAE7 BANK OF NEW YORK MEL    
05526DBJ3 BAT CAPITAL CORP 3.2 24,878 25,132
09062XAH6 BIOGEN INC. 2.25% 05    
097023DG7 BOEING COMPANY (THE) 25,963 26,184
10373QAZ3 BP CAP MARKETS AMERI 15,058 15,068
11135FBD2 BROADCOM INC. 5.2% 0 44,886 45,226
120568BC3 BUNGE LIMITED FINANC 45,836 46,129
120568AZ3 BUNGE LTD FINANCE CO 33,097 33,195
14040HBU8 CAPITAL ONE FINANCIA    
14040HCG8 CAPITAL ONE FINANCIA 37,072 36,335
14149YAY4 CARDINAL HEALTH, INC    
172967NA5 CITIGROUP INC. HYBRI 55,328 56,400
172967LP4 CITIGROUP INC. HYBRI 37,937 38,371
189054AW9 CLOROX COMPANY (THE) 36,343 36,192
20030NBM2 COMCAST CORPORATION 52,326 51,540
209111FX6 CON EDISON CO OF NY 52,855 52,798
209111FS7 CONSOLIDATED EDISON 36,566 36,240
22822VAV3 CROWN CASTLE INTL CO 68,522 69,184
24703TAE6 DELL INT LLC / EMC C 27,236 27,457
23338VAM8 DTE ELECTRIC COMPANY 18,448 17,736
278642AS2 EBAY INC. 2.75% 01/3    
29250NBH7 ENBRIDGE INC 1.6% 10 71,174 71,967
29273RAS8 ENERGY TRANSFER PART    
29379VBV4 ENTERPRISE PRODUCTS 50,703 53,102
298785JL1 EUROPEAN INVESTMENT 57,439 54,157
337738AU2 FISERV, INC. 3.5% 07 33,500 33,589
35137LAL9 FOX CORP 3.5% 04/08/ 63,723 65,631
361448BF9 GATX CORP 4.0% 06/30 33,254 32,552
37045VAN0 GENERAL MOTORS CO 4. 10,012 10,120
37045XBG0 GENERAL MOTORS FINAN 14,029 14,256
37045XDV5 GENERAL MOTORS FINL 30,307 31,269
45866FAN4 INTERCONTINENTAL EXC 56,186 55,660
46647PAM8 JPMORGAN CHASE & CO. 9,966 10,061
46647PBW5 JPMORGAN CHASE & CO. 34,284 34,903
46647PBZ8 JPMORGAN CHASE & CO.    
500769JD7 KFW 1.75% 09/14/2029 34,035 32,958
571748BG6 MARSH & MCLENNAN COM 10,290 10,233
606822AT1 MITSUBISHI UFJ FINAN    
617474AA9 MORGAN STANLEY HYBRI    
617474AA9A MORGAN STANLEY HYBR    
64110DAK0 NETAPP, INC. 2.7% 06 79,934 80,228
65339KBU3 NEXTERA ENERGY CAPIT    
68389XBU8 ORACLE CORPORATION 2 10,872 10,860
68389XBV6 ORACLE CORPORATION 2    
68389XBD6 ORACLE CORPORATION 3 15,495 14,974
718172AV1 PHILIP MORRIS INTERN    
693475AZ8 PNC FINANCIAL SERVIC 122,867 123,902
74949LAB8 RELX CAPITAL INC 3.5    
776743AJ5 ROPER TECHNOLOGIES, 78,860 78,791
828807CV7 SIMON PROPERTY GROUP    
83088MAL6 SKYWORKS SOLUTIONS, 16,800 16,378
00914AAB8 SRS CCD 26745899 MTN 20,869 21,026
855244AN9 STARBUCKS CORP 3.1%    
855244AP4 STARBUCKS CORP 3.5% 28,093 28,044
86562MAY6 SUMITOMO MITSUI FINA 30,856 31,254
891160MJ9 TORONTO-DOMINION BAN 42,096 42,211
89352HBA6 TRANSCANADA PIPELINE    
89788NAA8 TRUIST FINANCIAL COR 82,255 86,628
91282CDY4 U.S. TREASURY NOTE 1 354,038 351,968
912828W71 U.S. TREASURY NOTE 2    
91282CEK3 U.S. TREASURY NOTE 2    
91324PBZ4 UNITEDHEALTH GROUP I    
918204BC1 VF CORP 2.95% 04/23/    
95000U2K8 WELLS FARGO & COMPAN    
277907200 EATON VANCE INCOME F 530,118 390,533
31420B300 FEDERATED HERMES INS    
91282CDJ7 U.S. TREASURY NOTE 1 177,503 176,540
458140CG3 INTEL CORPORATION 5. 98,168 100,999
125523BZ2 CIGNA CORPORATION 4.    
101137AV9 BOSTON SCIENTIFIC CO    
26442CBA1 DUKE ENERGY CAROLINA 67,485 70,173
539830BC2 LOCKHEED MARTIN CORP 60,744 61,822
00287YAQ2 ABBVIE INC. 3.6% 05/    
14040HCU7 CAPITAL ONE FINANCIA    
91324PEJ7 UNITEDHEALTH GROUP I 48,560 49,707
278642AW3 EBAY INC 2.7% 03/11/ 43,676 45,533
126650DG2 CVS HEALTH CORPORATI 41,460 43,034
87165BAG8 SYNCHRONY FINANCIAL    
06051GHY8 BANK OF AMERICA CORP    
45866FAD6 INTERCONTINENTAL EXC    
6174468V4 MORGAN STANLEY HYBRI    
718172CZ0 PHILIP MORRIS INTERN 32,804 34,249
254709AL2 DISCOVER FINANCIAL S    
00914AAM4 AIR LEASE CORP 1.875    
89114QCH9 TORONTO-DOMINION BAN    
91324PER9 UNITEDHEALTH GROUP I 73,202 76,587
63111XAD3 NASDAQ, INC. 1.65% 0 31,443 33,103
46647PCM6 JPMORGAN CHASE & CO.    
822582BE1 SHELL INTERNATIONAL    
91282CAV3 U.S. TREASURY NOTE 0 31,532 31,541
91282CDP3 U.S. TREASURY NOTE 1 30,728 30,994
91282CDF5 U.S. TREASURY NOTE 1 30,816 31,176
91282CBL4 U.S. TREASURY NOTE 1 30,953 30,997
91282CCR0 U.S. TREASURY NOTE 1 30,684 31,111
95000U2F9 WELLS FARGO & COMPAN 29,224 29,918
91282CKA8 U.S. TREASURY BOND 4 447,435 466,851
62947QBC1 NXP BV/NXP FUNDING L 60,017 62,448
61744YAK4 MORGAN STANLEY HYBRI 43,855 45,407
91159HJN1 U.S. BANCORP HYBRID 40,155 41,802
10373QCA6 BP CAPITAL MARKETS A 39,841 40,570
06418JAC5 BANK OF NOVA SCOTIA 38,187 40,225
6174468G7 MORGAN STANLEY HYBRI 32,456 33,845
756109BT0 REALTY INCOME CORPOR 66,361 70,646
822905AC9 SHELL FINANCE US INC 29,589 29,999
035242AM8 ANHEUSER-BUSCH INBEV 34,998 37,427
03740MAD2 AON NORTH AMERICA, I 72,359 73,098
U0740WAA9 BERRY GLOBAL, INC. 5 38,110 40,645
20030NBP5 COMCAST CORPORATION 34,168 36,032
260543DJ9 DOW CHEMICAL CO/THE 42,996 44,604
38141W273 GS FS GOVERNMENT MM 153,443 153,443
478160BU7 JOHNSON & JOHNSON 3. 36,766 38,646
693639205 PUBLIC SERVICE COMPA 34,847 37,333
857477CA9 STATE STREET CORPORA 137,616 144,938
92343VCV4 VERIZON COMMUNICATIO 35,205 37,380
95000U2V4 WELLS FARGO & COMPAN 35,012 36,881
983024AL4 WYETH LLC 5.95% 04/0 99,296 104,929
74440Y801 PGIM HIGH YIELD FUND 397,424 574,718

TY 2025 InvestmentsCorpStockSchedule
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Name of Stock End of Year Book Value End of Year Fair Market Value
WALT DISNEY COMPANY (THE) CMN    
APPLE INC.    
09253F879 ISHARES MSCI EAFE IN 1,027,840 1,379,665
85749T202 STATE STREET EMERGIN 119,801 153,953
85749T889 STATE STREET HEDGED    
037833100 APPLE INC. CMN    
31635V729 FIDELITY LARGE CAP V 1,998,221 2,645,328
31635V729A FIDELITY LARGE CAP 1,267,341 2,594,650
464287655 ISHARES RUSSELL 2000 358,554 450,114

TY 2025 InvestmentsOtherSchedule2
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
38147X838 GS TACTICAL TILT OVE AT COST 298,285 302,181

TY 2025 OtherIncreasesSchedule
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Description Amount
COST BASIS ADJUSTMENT 1,285,787


TY 2025 OtherProfessionalFeesSchedule
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 29,142 29,142    


TY 2025 TaxesSchedule
Name:
IGER BAY FOUNDATION
EIN:
80-0875813
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 2,851 2,851   0
2025 Q4 FEDERAL TAX ESTIMATE 27,508 0   0