TY 2025 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2025

Open to Public Inspection

For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25

Name of foundation
THE FRANCES & WILLIAM H BEATTIE FDN

Number and street (or P.O. box number if mail is not delivered to street address) 50 WEST LIBERTY STREET SUITE 650
Room/suite

City or town
RENO

State or province
NV

Country

ZIP or foreign postal code
895022408

A Employer identification number

57-6113645

B Telephone number (see instructions)

8004219865

C If exemption application is pending, check here

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

Address change Name change

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

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

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

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

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

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$6,068,210J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .................
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	165,108		163,292
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		437,246
b	Gross sales price for all assets on line 6a 1,524,248
7	Capital gain net income (from Part IV, line 2)...			437,246
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........	602,354		600,538
13	Compensation of officers, directors, trustees, etc.	12,847				12,847
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)....	List of Attached Documents: // Content	35,601	35,601		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	12,931	3,456		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).......	List of Attached Documents: // Content	1,007	17		990
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	62,386		39,074	0	13,837
25	Contributions, gifts, grants paid.......	299,500				299,500
26	Total expenses and disbursements. Add lines 24 and 25 ................	361,886		39,074	0	313,337
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	240,468
b	Net investment income (if negative, enter -0-)			561,464
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	192,315	165,162	165,162
	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).......	1,122,044	List of Attached Documents: // Content 1,045,454	2,473,662
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	2,600,971	List of Attached Documents: // Content 2,942,532	3,429,386
	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)	3,915,330	4,153,148	6,068,210
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	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........	3,915,330	4,153,148
	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).....	3,915,330	4,153,148
	30	Total liabilities and net assets/fund balances (see instructions).	3,915,330	4,153,148

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

3,915,330

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

240,468

Other increases not included in line 2 (itemize)

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

4,155,798

Decreases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

2,650

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

4,153,148

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	49. ANALOG DEVICES INC		2021-10-08	2025-01-10
b	123. ANHEUSER BUSCH INBEV SPN ADR		2020-08-03	2025-01-10
c	95. ASTRAZENECA PLC SPONS ADR		2020-05-06	2025-01-10
d	288. COMCAST CORP NEW CL A		2010-09-30	2025-01-10
e	47. HILTON WORLDWIDE HOLDINGS INC			2025-01-10
	188. UNITED CONTINENTAL HOLDINGS INC			2025-01-10
	16. ASML HLDG N V		2016-10-18	2025-01-10
	338. AIRBUS GROUP NV			2025-01-13
	111. EDISON INTERNATIONAL		2024-01-22	2025-01-13
	11. EDISON INTERNATIONAL			2025-01-13
	8. I T T INC			2025-01-13
	100. I T T INC		2021-04-20	2025-01-13
	73. NOVO NORDISK A/S ADR		2024-05-29	2025-01-13
	76. NOVO NORDISK A/S ADR			2025-01-13
	5. PNC FINANCIAL SERVICES GROUP INC/THE		2024-01-23	2025-01-13
	50. PNC FINANCIAL SERVICES GROUP INC/THE			2025-01-13
	9. SERVICENOW INC			2025-01-13
	150. STATE ST CORP COM			2025-01-13
	210. T C ENERGY CORP		2023-11-21	2025-01-13
	64. TOAST INC			2025-01-13
	200. TOAST INC			2025-01-13
	215. WELLS FARGO & CO NEW			2025-01-13
	74. CARRIER GLOBAL CORP COM		2023-06-30	2025-01-14
	45. CARRIER GLOBAL CORP COM			2025-01-16
	100. CARRIER GLOBAL CORP COM			2025-01-16
	68. WASTE CONNECTIONS INC		2016-06-01	2025-01-27
	21. UNION PACIFIC CORP		2023-08-11	2025-02-04
	43. ABBOTT LABORATORIES		2024-01-22	2025-02-10
	28. ALNYLAM PHARMACEUTICALS INC		2023-10-18	2025-02-10
	18. JACK HENRY ASSOCIATES INC		2011-04-12	2025-02-10
	24. VISA INC		2009-02-26	2025-02-10
	30. ELECTRONIC ARTS		2021-12-16	2025-02-11
	7. INGERSOLL RAND INC		2024-05-22	2025-02-11
	31. INGERSOLL RAND INC		2024-05-22	2025-02-11
	15. ACCENTURE PLC			2025-02-11
	14. ATLASSIAN CORP CL A		2023-10-19	2025-02-12
	26. INGERSOLL RAND INC			2025-02-12
	58. AMETEK INC NEW		2020-05-12	2025-02-18
	63. APPLIED MATERIALS INC		2025-01-13	2025-02-18
	6. ATLASSIAN CORP CL A		2024-09-06	2025-02-18
	38. ATLASSIAN CORP CL A			2025-02-18
	27. EXXON MOBIL CORP			2025-02-18
	73. VERALTO CORP COM		2024-01-22	2025-02-18
	31. VISA INC		2009-02-26	2025-02-18
	20. DISCOVER FINANCIAL SERVICES		2024-06-27	2025-02-20
	29. TAKE-TWO INTERACTIVE SOFTWARE			2025-02-25
	24. ELECTRONIC ARTS			2025-03-05
	100. CHIPOTLE MEXICAN GRILL INC		2018-09-05	2025-03-06
	47. CHIPOTLE MEXICAN GRILL INC			2025-03-06
	26. ELECTRONIC ARTS			2025-03-06
	19. CHARTER COMMUNICATIONS INC-A			2025-03-11
	100. COMCAST CORP NEW CL A		2010-09-30	2025-03-11
	70. COMCAST CORP NEW CL A		2010-09-30	2025-03-11
	6. EQUINIX INC		2018-05-14	2025-03-11
	14. GENERAL ELECTRIC CO		2025-02-10	2025-03-11
	7. EQUINIX INC		2018-05-14	2025-03-14
	55. CAPITAL ONE FINANCIAL CORP		2024-08-06	2025-03-18
	17. DANAHER CORP COMMON			2025-04-04
	3. DANAHER CORP COMMON		2023-01-25	2025-04-07
	3. DANAHER CORP COMMON		2023-01-25	2025-04-08
	15. CSX CORP COM		2017-08-28	2025-04-09
	20. ABBVIE INC		2024-01-23	2025-04-22
	19. APPLE INC		2025-01-10	2025-04-22
	65. APPLE INC			2025-04-23
	13. APPLE INC			2025-04-23
	44. TAKE-TWO INTERACTIVE SOFTWARE			2025-05-02
	16. APPLIED MATERIALS INC		2025-01-13	2025-05-06
	46. APPLIED MATERIALS INC		2024-01-22	2025-05-06
	17. TEXAS INSTRUMENTS INC		2025-02-10	2025-05-06
	129. INGERSOLL RAND INC			2025-05-07
	3. INGERSOLL RAND INC		2024-02-13	2025-05-07
	6. UNITED HEALTH GROUP INC		2024-07-18	2025-05-15
	7. UNITED HEALTH GROUP INC			2025-05-15
	2. UNITED HEALTH GROUP INC		2024-10-28	2025-05-15
	1. UNITED HEALTH GROUP INC		2024-03-26	2025-05-15
	.61 CAPITAL ONE FINANCIAL CORP		2024-06-27	2025-05-19
	30. SAREPTA THERAPEUTICS INC		2024-11-25	2025-05-23
	21. AIR PRODUCTS AND CHEMICALS INC COMMON		2025-01-31	2025-05-27
	15. AMAZON COM INC		2025-01-13	2025-05-27
	16. AMAZON COM INC		2025-01-13	2025-05-27
	29. AMAZON COM INC			2025-05-27
	6. ELEVANCE HEALTH INC		2025-03-06	2025-05-27
	4. ELEVANCE HEALTH INC		2025-03-06	2025-05-27
	3. ELEVANCE HEALTH INC		2025-03-06	2025-05-27
	118. BRISTOL MYERS SQUIBB CO COM		2024-10-17	2025-05-27
	30. FEDEX CORPORATION			2025-05-27
	35. FEDEX CORPORATION		2024-01-22	2025-05-27
	44. HERSHEY FOODS CORPORATION COM		2025-03-06	2025-05-27
	15. LENNOX INTERNATIONAL INC		2025-01-16	2025-05-27
	5. ELI LILLY & CO COM		2025-02-18	2025-05-27
	5. ELI LILLY & CO COM		2025-02-18	2025-05-27
	2. ELI LILLY & CO COM		2025-02-18	2025-05-27
	24. AMAZON COM INC		2024-12-03	2025-05-28
	4. ELI LILLY & CO COM		2025-02-18	2025-05-28
	9. SAIA INC		2023-09-06	2025-05-28
	7. REGENERON PHARMACEUTICALS INC			2025-06-02
	38. REGENERON PHARMACEUTICALS INC			2025-06-02
	24. ALPHABET INC		2025-01-10	2025-06-17
	75. ALPHABET INC		2024-01-22	2025-06-17
	202. CSX CORP COM		2017-08-28	2025-06-26
	37. DANAHER CORP COMMON			2025-07-01
	34. DARDEN RESTAURANTS INC COM		2020-05-11	2025-07-01
	3. UNITED HEALTH GROUP INC		2024-03-26	2025-07-10
	483. PG&E CORP			2025-07-23
	28. CONSTELLATION ENERGYCORP COM			2025-07-24
	23. EATON CORP PLC		2025-02-18	2025-08-07
	17. ABBOTT LABORATORIES		2025-06-17	2025-08-19
	6. ABBVIE INC		2024-01-23	2025-08-19
	21. ALPHABET INC		2024-01-22	2025-08-19
	20. AMAZON COM INC		2024-02-08	2025-08-19
	2. AMETEK INC NEW		2020-05-12	2025-08-19
	2. ELEVANCE HEALTH INC		2025-03-06	2025-08-19
	19. APPLE INC		2008-10-24	2025-08-19
	28. ARAMARK HOLDINGS CORP		2022-03-15	2025-08-19
	9. ASTRAZENECA PLC SPONS ADR		2020-05-06	2025-08-19
	2. ATLASSIAN CORP CL A		2024-09-06	2025-08-19
	9. ATMOS ENERGY CORP		2025-02-18	2025-08-19
	1. BURLINGTON STORES INC		2023-10-19	2025-08-19
	4. CARRIER GLOBAL CORP COM		2021-03-17	2025-08-19
	10. CENTERPOINT ENERGY INC		2021-02-17	2025-08-19
	4. CERIDIAN HCM HOLDING INC		2025-02-04	2025-08-19
	1. CHARTER COMMUNICATIONS INC-A		2013-06-19	2025-08-19
	21. CHIPOTLE MEXICAN GRILL INC		2019-01-04	2025-08-19
	6. CONOCOPHILLIPS			2025-08-19
	10. CONSTELLATION ENERGYCORP COM		2025-01-21	2025-08-19
	5. DANAHER CORP COMMON		2005-08-23	2025-08-19
	12. ENTERGY CORP NEW COM		2024-01-16	2025-08-19
	1. EQUIFAX INC		2024-01-24	2025-08-19
	3. EXXON MOBIL CORP		2024-01-22	2025-08-19
	5. META PLATFORMS INC		2025-07-31	2025-08-19
	3. GALLAGHER ARTHUR J & CO		2023-01-27	2025-08-19
	2. GE VERNOVA INC COM		2025-01-13	2025-08-19
	15. GENERAL ELECTRIC CO		2024-02-27	2025-08-19
	1. HEICO CORP NEW		2020-04-01	2025-08-19
	1. HEICO CORP NEW CL A		2020-02-14	2025-08-19
	3. JACK HENRY ASSOCIATES INC		2011-04-12	2025-08-19
	2. HILTON WORLDWIDE HOLDINGS INC		2023-04-14	2025-08-19
	1. HOME DEPOT INC		2025-03-05	2025-08-19
	9. INGERSOLL RAND INC		2025-06-10	2025-08-19
	7. J P MORGAN CHASE & CO		2002-09-12	2025-08-19
	4. KLA TENCOR CORP		2023-08-23	2025-08-19
	7. KKR AND CO INC		2023-11-28	2025-08-19
	1. LENNOX INTERNATIONAL INC		2025-01-13	2025-08-19
	3. ELI LILLY & CO COM			2025-08-19
	1. MSCI INC-A		2018-05-30	2025-08-19
	19. MARSH & MCLENNAN COS INC		2011-09-06	2025-08-19
	24. MICROSOFT CORP COM		2016-01-06	2025-08-19
	9. MICRON TECHNOLOGY		2023-10-19	2025-08-19
	43. MONDELEZ INTERNATIONAL INC		2025-03-11	2025-08-19
	4. MORGAN STANLEY COM		2023-01-27	2025-08-19
	3. NORTHROP GRUMMAN CORP		2016-10-17	2025-08-19
	4. PNC FINANCIAL SERVICES GROUP INC/THE		2024-01-23	2025-08-19
	8. PAYCHEX INC COM		2025-02-18	2025-08-19
	7. PROGRESSIVE CORP OHIO		2025-06-17	2025-08-19
	10. RAYTHEON TECHNOLOGIES CORP		2023-12-01	2025-08-19
	4. ROBLOX CORP COM CL A		2025-06-12	2025-08-19
	19. ROLLS-ROYCE HOLDINGS PLC		2025-06-27	2025-08-19
	1. S AND P GLOBAL INC		2024-01-22	2025-08-19
	7. SAFRAN SA-UNSPON ADR		2024-01-19	2025-08-19
	8. SALESFORCE COM INC		2025-05-27	2025-08-19
	9. SEMPRA ENERGY		2016-03-10	2025-08-19
	2. SERVICENOW INC		2024-01-22	2025-08-19
	2. SHERWIN-WILLIAMS COMPANY COMMON		2016-10-19	2025-08-19
	5. SHOPIFY INC-A W/I		2025-02-11	2025-08-19
	12. TJX COS INC/THE		2024-01-23	2025-08-19
	1. T -MOBILE US INC		2025-07-01	2025-08-19
	3. TAIWAN SEMICONDUCTOR ADR		2025-01-10	2025-08-19
	6. TEXAS INSTRUMENTS INC		2024-01-23	2025-08-19
	11. TOAST INC		2024-06-11	2025-08-19
	27. TRACTOR SUPPLY CO		2023-02-17	2025-08-19
	23. TRUIST FINL CORP		2025-02-19	2025-08-19
	1. UNITED RENTALS INC		2025-08-04	2025-08-19
	2. UNITED HEALTH GROUP INC			2025-08-19
	4. VERTEX PHARMACEUTICALS INC		2025-02-11	2025-08-19
	11. VISA INC		2009-02-26	2025-08-19
	11. WASTE CONNECTIONS INC		2016-06-01	2025-08-19
	13. WELLTOWER INC		2024-08-15	2025-08-19
	2. YUM BRANDS INC		2016-02-26	2025-08-19
	1. AON PLC REGISTERED SHS CL A		2010-04-02	2025-08-19
	4. ACCENTURE PLC		2023-12-01	2025-08-19
	7. LINDE PLC NEW			2025-08-19
	12. QIAGEN NV REGISTERED SHS		2025-06-10	2025-08-19
	8. ROYAL CARIBBEAN CRUISES LTD		2024-03-20	2025-08-19
	37. ALLEGHENY TECHNOLOGIES INC		2024-06-10	2025-09-02
	3. ALPHABET INC		2025-03-06	2025-09-02
	7. AMAZON COM INC		2025-07-09	2025-09-02
	5. AMGEN INC COMMON STOCK		2024-02-08	2025-09-02
	10. ATLASSIAN CORP CL A		2024-09-06	2025-09-02
	42. BROADCOM INC		2024-02-09	2025-09-02
	62. CERIDIAN HCM HOLDING INC		2025-02-04	2025-09-02
	1. CONSTELLATION ENERGYCORP COM		2025-01-21	2025-09-02
	45. EXXON MOBIL CORP		2024-01-22	2025-09-02
	23. META PLATFORMS INC			2025-09-02
	2. GENERAL ELECTRIC CO		2025-02-10	2025-09-02
	9. INGERSOLL RAND INC		2024-02-13	2025-09-02
	7. KLA TENCOR CORP			2025-09-02
	3. KLA TENCOR CORP		2023-08-23	2025-09-02
	5. ELI LILLY & CO COM		2025-07-09	2025-09-02
	3. ELI LILLY & CO COM		2017-10-03	2025-09-02
	11. MSCI INC-A		2018-05-30	2025-09-02
	15. MASTERCARD INC		2022-02-08	2025-09-02
	1. MICROSOFT CORP COM		2016-01-06	2025-09-02
	5. MICRON TECHNOLOGY		2025-01-17	2025-09-02
	22. MORGAN STANLEY COM			2025-09-02
	9. NETFLIX COM INC		2024-12-17	2025-09-02
	8. NORTHROP GRUMMAN CORP			2025-09-02
	18. PROGRESSIVE CORP OHIO			2025-09-02
	11. RAYTHEON TECHNOLOGIES CORP		2025-01-13	2025-09-02
	396. ROLLS-ROYCE HOLDINGS PLC			2025-09-02
	7. SALESFORCE COM INC		2024-01-23	2025-09-02
	23. SHOPIFY INC-A W/I		2025-02-11	2025-09-02
	56. TJX COS INC/THE		2025-07-01	2025-09-02
	10. TJX COS INC/THE		2024-01-23	2025-09-02
	24. T -MOBILE US INC		2025-07-01	2025-09-02
	46. TRUIST FINL CORP		2025-02-19	2025-09-02
	67. TRUIST FINL CORP		2024-07-15	2025-09-02
	24. UNITED RENTALS INC			2025-09-02
	10. WELLTOWER INC		2025-02-18	2025-09-02
	35. YUM BRANDS INC		2016-02-26	2025-09-02
	152. QIAGEN NV REGISTERED SHS			2025-09-02
	32. GE VERNOVA INC COM			2025-09-05
	24. ABBOTT LABORATORIES			2025-09-11
	1. ABBOTT LABORATORIES		2024-01-22	2025-09-11
	8. ABBVIE INC		2025-09-02	2025-09-11
	49. ALPHABET INC			2025-09-11
	5. ALPHABET INC		2024-01-22	2025-09-11
	31. AMAZON COM INC		2025-07-09	2025-09-11
	12. AMGEN INC COMMON STOCK		2024-02-08	2025-09-11
	9. ELEVANCE HEALTH INC		2025-09-02	2025-09-11
	28. ELEVANCE HEALTH INC			2025-09-11
	24. APPLE INC		2025-09-02	2025-09-11
	45. ARAMARK HOLDINGS CORP			2025-09-11
	31. ATMOS ENERGY CORP			2025-09-11
	50. BROADCOM INC			2025-09-11
	38. CENTERPOINT ENERGY INC		2025-09-02	2025-09-11
	36. CENTERPOINT ENERGY INC		2021-02-17	2025-09-11
	22. CHURCH & DWIGHT CO INCORPORATED		2025-09-02	2025-09-11
	7. CHURCH & DWIGHT CO INCORPORATED		2023-10-31	2025-09-11
	2. CONOCOPHILLIPS		2025-09-02	2025-09-11
	18. CONOCOPHILLIPS		2016-08-30	2025-09-11
	21. CONSTELLATION ENERGYCORP COM		2025-01-21	2025-09-11
	1. CONSTELLATION ENERGYCORP COM		2024-08-15	2025-09-11
	8. DANAHER CORP COMMON		2025-09-02	2025-09-11
	28. ENTERGY CORP NEW COM		2024-01-16	2025-09-11
	5. GALLAGHER ARTHUR J & CO			2025-09-11
	5. GE VERNOVA INC COM		2024-11-01	2025-09-11
	29. GENERAL ELECTRIC CO		2025-02-10	2025-09-11
	4. HEICO CORP NEW		2025-09-02	2025-09-11
	13. HEICO CORP NEW CL A		2020-02-14	2025-09-11
	38. HILTON WORLDWIDE HOLDINGS INC		2025-09-02	2025-09-11
	4. HOME DEPOT INC		2025-09-02	2025-09-11
	16. J P MORGAN CHASE & CO		2025-09-02	2025-09-11
	2. J P MORGAN CHASE & CO		2002-09-12	2025-09-11
	4. KLA TENCOR CORP		2023-08-23	2025-09-11
	3. ELI LILLY & CO COM		2017-10-03	2025-09-11
	24. MARSH & MCLENNAN COS INC		2025-09-02	2025-09-11
	6. MARSH & MCLENNAN COS INC		2011-09-06	2025-09-11
	39. MICROSOFT CORP COM		2016-01-06	2025-09-11
	14. MICRON TECHNOLOGY		2025-01-17	2025-09-11
	126. MONDELEZ INTERNATIONAL INC			2025-09-11
	7. NORTHROP GRUMMAN CORP		2025-05-02	2025-09-11
	10. PNC FINANCIAL SERVICES GROUP INC/THE		2025-09-02	2025-09-11
	17. PAYCHEX INC COM		2025-02-18	2025-09-11
	8. PROGRESSIVE CORP OHIO		2025-01-14	2025-09-11
	1. PROGRESSIVE CORP OHIO		2023-07-18	2025-09-11
	24. RAYTHEON TECHNOLOGIES CORP		2025-01-13	2025-09-11
	9. SALESFORCE COM INC		2024-01-23	2025-09-11
	15. SEMPRA ENERGY		2025-09-02	2025-09-11
	19. TJX COS INC/THE		2024-01-23	2025-09-11
	36. TRACTOR SUPPLY CO			2025-09-11
	2. TRANSDIGM GROUP INC		2025-09-02	2025-09-11
	52. TRUIST FINL CORP		2024-07-15	2025-09-11
	2. UNITED RENTALS INC		2025-09-05	2025-09-11
	6. UNITED HEALTH GROUP INC		2025-09-02	2025-09-11
	6. VERTEX PHARMACEUTICALS INC			2025-09-11
	17. VISA INC		2009-02-26	2025-09-11
	20. WASTE CONNECTIONS INC		2025-09-02	2025-09-11
	41. WELLTOWER INC			2025-09-11
	8. AON PLC REGISTERED SHS CL A		2025-09-02	2025-09-11
	15. LINDE PLC NEW			2025-09-11
	8. ROYAL CARIBBEAN CRUISES LTD			2025-09-11
	7379.6 AMERICAN HIGH INCOME TRUST		2017-10-02	2025-09-12
	1205.91 AMER FNDS EUROPAC GROW-F3			2025-09-12
	326.1 AMER FNDS NEW WORLD-F3			2025-09-12
	8. MORGAN STANLEY COM		2024-01-22	2025-09-18
	23. CONSTELLATION ENERGYCORP COM		2024-08-15	2025-09-30
	16. ELEVANCE HEALTH INC			2025-10-08
	81.19 AMER FNDS EUROPAC GROW-F3		2018-12-20	2025-10-16
	3.45 AMER FNDS NEW WORLD-F3		2018-07-05	2025-10-16
	7. CHARTER COMMUNICATIONS INC-A		2025-09-02	2025-11-13
	27. CHARTER COMMUNICATIONS INC-A		2013-06-19	2025-11-13
	59. TEXAS INSTRUMENTS INC			2025-11-13
	35. TEXAS INSTRUMENTS INC		2024-01-23	2025-11-13
	17. CERIDIAN HCM HOLDING INC		2025-02-04	2025-11-25
	21. BROADCOM INC		2023-10-18	2025-11-26
	29. CHIPOTLE MEXICAN GRILL INC		2025-09-02	2025-11-26
	275. CHIPOTLE MEXICAN GRILL INC		2019-01-04	2025-11-26
	30. LENNOX INTERNATIONAL INC			2025-12-04
	29. BROADCOM INC			2025-12-10
	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
	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
	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
	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
	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
	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
	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
	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
	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
	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
	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		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	10,460	8,248	2,212
b	5,705	6,724	-1,019
c	6,359	5,180	1,179
d	10,469	2,611	7,858
e	11,330	6,813	4,517
	20,113	8,582	11,531
	11,871	1,640	10,231
	13,355	5,646	7,709
	6,371	7,513	-1,142
	631	748	-117
	1,116	747	369
	13,895	9,167	4,728
	6,156	9,674	-3,518
	6,409	4,236	2,173
	958	749	209
	9,575	5,784	3,791
	9,052	4,478	4,574
	14,064	10,105	3,959
	9,677	7,037	2,640
	2,245	1,472	773
	6,940	4,448	2,492
	15,085	8,571	6,514
	5,056	3,687	1,369
	3,138	2,230	908
	6,963	4,071	2,892
	12,250	2,969	9,281
	5,133	4,832	301
	5,633	4,930	703
	7,604	4,629	2,975
	3,127	596	2,531
	8,430	336	8,094
	3,994	3,855	139
	645	672	-27
	2,845	2,974	-129
	5,812	5,416	396
	4,426	2,773	1,653
	2,371	2,456	-85
	10,680	4,731	5,949
	10,731	10,740	-9
	1,880	968	912
	11,906	6,555	5,351
	2,966	2,764	202
	7,129	5,781	1,348
	11,003	434	10,569
	3,928	2,463	1,465
	6,028	3,394	2,634
	3,209	2,941	268
	5,281	957	4,324
	2,418	446	1,972
	3,552	2,350	1,202
	6,848	4,253	2,595
	3,585	907	2,678
	2,522	635	1,887
	5,005	2,397	2,608
	2,668	2,872	-204
	5,854	2,796	3,058
	9,133	7,372	1,761
	3,160	4,077	-917
	532	702	-170
	543	702	-159
	428	247	181
	3,470	3,340	130
	3,779	4,500	-721
	13,458	15,072	-1,614
	2,692	737	1,955
	9,657	5,119	4,538
	2,456	2,728	-272
	7,062	7,763	-701
	2,749	3,068	-319
	9,938	11,806	-1,868
	231	255	-24
	1,588	3,394	-1,806
	1,839	3,959	-2,120
	518	1,131	-613
	259	487	-228
	121	74	47
	1,142	3,440	-2,298
	5,757	7,048	-1,291
	3,096	3,266	-170
	3,246	3,484	-238
	5,974	6,285	-311
	2,241	2,420	-179
	1,503	1,614	-111
	1,121	1,210	-89
	5,535	6,285	-750
	6,633	7,730	-1,097
	7,693	8,759	-1,066
	6,963	7,879	-916
	8,693	9,674	-981
	3,642	4,277	-635
	3,581	4,277	-696
	1,454	1,711	-257
	4,971	5,054	-83
	2,907	3,421	-514
	2,425	3,877	-1,452
	3,431	4,490	-1,059
	18,623	27,965	-9,342
	4,253	4,647	-394
	13,292	11,110	2,182
	6,574	3,332	3,242
	7,441	2,309	5,132
	7,469	2,515	4,954
	897	1,462	-565
	6,599	7,410	-811
	9,064	3,348	5,716
	8,258	7,205	1,053
	2,229	2,267	-38
	1,235	1,002	233
	4,230	3,111	1,119
	4,571	3,403	1,168
	368	163	205
	622	807	-185
	4,392	65	4,327
	1,103	739	364
	714	491	223
	332	323	9
	1,485	1,333	152
	279	121	158
	268	156	112
	380	216	164
	262	289	-27
	265	130	135
	907	191	716
	562	683	-121
	3,151	3,227	-76
	1,058	90	968
	1,063	620	443
	248	249	-1
	321	289	32
	3,772	3,901	-129
	891	589	302
	1,211	723	488
	4,023	1,840	2,183
	305	70	235
	239	103	136
	477	99	378
	541	289	252
	407	385	22
	716	757	-41
	2,031	155	1,876
	3,525	1,982	1,543
	978	485	493
	613	618	-5
	2,130	2,429	-299
	566	162	404
	3,984	538	3,446
	12,245	1,301	10,944
	1,108	616	492
	2,674	2,926	-252
	576	385	191
	1,761	659	1,102
	769	599	170
	1,102	1,188	-86
	1,749	1,862	-113
	1,546	822	724
	473	387	86
	274	250	24
	556	445	111
	594	327	267
	1,953	2,205	-252
	741	441	300
	1,769	1,513	256
	733	180	553
	701	618	83
	1,613	1,142	471
	258	242	16
	710	626	84
	1,178	1,051	127
	462	244	218
	1,675	1,290	385
	1,017	1,091	-74
	919	867	52
	601	514	87
	1,575	1,843	-268
	3,765	154	3,611
	2,041	480	1,561
	2,114	1,505	609
	304	102	202
	370	49	321
	1,010	1,335	-325
	3,362	2,321	1,041
	589	556	33
	2,646	1,054	1,592
	2,899	2,151	748
	636	524	112
	1,577	1,549	28
	1,435	1,467	-32
	1,727	1,614	113
	12,526	5,357	7,169
	4,308	4,472	-164
	307	323	-16
	5,161	4,333	828
	16,907	15,479	1,428
	551	410	141
	701	765	-64
	5,924	5,364	560
	2,539	1,487	1,052
	3,676	3,933	-257
	2,206	259	1,947
	6,093	1,781	4,312
	8,878	5,674	3,204
	505	54	451
	592	527	65
	3,274	1,958	1,316
	10,927	8,294	2,633
	4,714	4,010	704
	4,425	4,405	20
	1,738	1,290	448
	5,724	5,207	517
	1,770	1,946	-176
	3,198	2,843	355
	7,759	7,011	748
	1,386	952	434
	6,141	5,796	345
	2,135	2,182	-47
	3,109	2,774	335
	23,010	18,276	4,734
	1,677	1,519	158
	5,090	1,791	3,299
	7,130	7,035	95
	18,626	10,649	7,977
	3,183	3,157	26
	133	115	18
	1,762	1,695	67
	11,798	8,318	3,480
	1,204	741	463
	7,128	6,861	267
	3,393	3,522	-129
	2,834	2,901	-67
	8,817	10,301	-1,484
	5,520	5,514	6
	1,749	1,744	5
	5,158	4,766	392
	17,981	5,126	12,855
	1,453	1,442	11
	1,376	776	600
	2,077	2,052	25
	661	636	25
	188	198	-10
	1,694	763	931
	6,678	6,776	-98
	318	191	127
	1,561	1,630	-69
	2,516	1,447	1,069
	1,503	950	553
	3,171	1,518	1,653
	8,165	5,949	2,216
	1,283	1,264	19
	3,293	1,334	1,959
	10,572	10,489	83
	1,694	1,625	69
	4,889	4,795	94
	611	44	567
	3,837	1,982	1,855
	2,269	259	2,010
	4,883	4,931	-48
	1,221	170	1,051
	19,539	2,113	17,426
	2,108	1,475	633
	7,817	8,461	-644
	4,081	3,418	663
	2,027	2,054	-27
	2,303	2,525	-222
	1,990	1,909	81
	249	122	127
	3,783	2,816	967
	2,216	2,502	-286
	1,252	1,244	8
	2,676	1,808	868
	2,160	2,160
	2,587	2,610	-23
	2,355	2,153	202
	1,919	1,950	-31
	2,122	1,853	269
	2,384	2,761	-377
	5,839	238	5,601
	3,563	3,657	-94
	6,907	6,211	696
	2,978	2,976	2
	7,254	6,453	801
	2,802	2,013	789
	73,427	77,338	-3,911
	76,973	70,117	6,856
	30,679	24,745	5,934
	1,274	690	584
	7,568	4,403	3,165
	5,797	3,969	1,828
	5,342	3,617	1,725
	331	223	108
	1,434	1,851	-417
	5,529	3,520	2,009
	9,571	10,881	-1,310
	5,678	6,131	-453
	1,174	1,226	-52
	8,349	1,857	6,492
	987	1,211	-224
	9,356	2,501	6,855
	15,142	17,802	-2,660
	11,976	695	11,281
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662
			104,662

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			2,212
b			-1,019
c			1,179
d			7,858
e			4,517
			11,531
			10,231
			7,709
			-1,142
			-117
			369
			4,728
			-3,518
			2,173
			209
			3,791
			4,574
			3,959
			2,640
			773
			2,492
			6,514
			1,369
			908
			2,892
			9,281
			301
			703
			2,975
			2,531
			8,094
			139
			-27
			-129
			396
			1,653
			-85
			5,949
			-9
			912
			5,351
			202
			1,348
			10,569
			1,465
			2,634
			268
			4,324
			1,972
			1,202
			2,595
			2,678
			1,887
			2,608
			-204
			3,058
			1,761
			-917
			-170
			-159
			181
			130
			-721
			-1,614
			1,955
			4,538
			-272
			-701
			-319
			-1,868
			-24
			-1,806
			-2,120
			-613
			-228
			47
			-2,298
			-1,291
			-170
			-238
			-311
			-179
			-111
			-89
			-750
			-1,097
			-1,066
			-916
			-981
			-635
			-696
			-257
			-83
			-514
			-1,452
			-1,059
			-9,342
			-394
			2,182
			3,242
			5,132
			4,954
			-565
			-811
			5,716
			1,053
			-38
			233
			1,119
			1,168
			205
			-185
			4,327
			364
			223
			9
			152
			158
			112
			164
			-27
			135
			716
			-121
			-76
			968
			443
			-1
			32
			-129
			302
			488
			2,183
			235
			136
			378
			252
			22
			-41
			1,876
			1,543
			493
			-5
			-299
			404
			3,446
			10,944
			492
			-252
			191
			1,102
			170
			-86
			-113
			724
			86
			24
			111
			267
			-252
			300
			256
			553
			83
			471
			16
			84
			127
			218
			385
			-74
			52
			87
			-268
			3,611
			1,561
			609
			202
			321
			-325
			1,041
			33
			1,592
			748
			112
			28
			-32
			113
			7,169
			-164
			-16
			828
			1,428
			141
			-64
			560
			1,052
			-257
			1,947
			4,312
			3,204
			451
			65
			1,316
			2,633
			704
			20
			448
			517
			-176
			355
			748
			434
			345
			-47
			335
			4,734
			158
			3,299
			95
			7,977
			26
			18
			67
			3,480
			463
			267
			-129
			-67
			-1,484
			6
			5
			392
			12,855
			11
			600
			25
			25
			-10
			931
			-98
			127
			-69
			1,069
			553
			1,653
			2,216
			19
			1,959
			83
			69
			94
			567
			1,855
			2,010
			-48
			1,051
			17,426
			633
			-644
			663
			-27
			-222
			81
			127
			967
			-286
			8
			868

			-23
			202
			-31
			269
			-377
			5,601
			-94
			696
			2
			801
			789
			-3,911
			6,856
			5,934
			584
			3,165
			1,828
			1,725
			108
			-417
			2,009
			-1,310
			-453
			-52
			6,492
			-224
			6,855
			-2,660
			11,281

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	437,246
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 .........................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	7,804
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	7,804
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	7,804
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	6,168
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	6,168
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	1,636
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 tax0	Refunded	11	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

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

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

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

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

on foundation managers.$

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

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

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

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

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

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

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

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

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation . Click to see attachment

List of Attached Documents:

// Content

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

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

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

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

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

Yes

Website address

The books are in care ofCAPITAL BANK & TRUST Telephone no. (800) 421-9865

Located at6455 IRVINE CENTER DRIVEIRVINECA ZIP+4926184518

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........

and enter the amount of tax-exempt interest received or accrued during the year ........

16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country

Form 990-PF (2025)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

Yes

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

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

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2025? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

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

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine

if the foundation had excess business holdings in 2025.).....................

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

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..

Form 990-PF (2025)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

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

5a(3)

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

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

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

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

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

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

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

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

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

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

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

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

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
CAPITAL BANK TRUST	Trustee 5	12,847
50 WEST LIBERTY STREET SUITE 650 RENO,NV89502	Trustee 5	12,847

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)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2025)

Page 8

Part IX

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

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

purposes:

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

5,659,036

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

186,014

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

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

5,845,050

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

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

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

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

5,845,050

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

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

87,676

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

5,757,374

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

287,869

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)

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

287,869

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

7,804

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

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

7,804

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

280,065

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

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

280,065

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

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

280,065

Part XI

Qualifying Distributions (see instructions)

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

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

313,337

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

313,337

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					280,065
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......	78,150
b From 2021......	39,153
c From 2022......	17,709
d From 2023......	24,141
e From 2024......	25,550
f Total of lines 3a through e ........		184,703
4Qualifying distributions for 2025 from Part
XI, line 4: $ 313,337
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.....					280,065
e Remaining amount distributed out of corpus		33,272
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		217,975
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) ...		78,150
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		139,825
10 Analysis of line 9:
a Excess from 2021 ....	39,153
b Excess from 2022 ....	17,709
c Excess from 2023 ....	24,141
d Excess from 2024 ....	25,550
e Excess from 2025 ....	33,272

Form 990-PF (2025)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2025	(b) 2024	(c) 2023	(d) 2022	(e) Total

b 85% (0.85) of line 2a .......
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, 3b, or 3c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2025)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
APPALACHIAN SUSTAINABLE AGRICULTURE PROJ 306 WEST HAYWOOD STREET SUITE 200 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	2,000
ASHEVILLE AREA HABITAT FOR HUMANITY 33 MEADOW ROAD ASHEVILLE,NC288032652	NONE		GENERAL SUPPORT	10,000
ARTSAVL (ASHEVILLE AREA ARTS COUNCIL) PO BOX 507 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	5,000
ASHEVILLE ART MUSEUM PO BOX 1717 ASHEVILLE,NC288021717	NONE		GENERAL SUPPORT	5,000
ASHEVILLE CITY SCHOOLS FOUNDATION PO BOX 3196 ASHEVILLE,NC28802	NONE		GENERAL SUPPORT	5,000
ASHEVILLE GREENWORKS 2 SULPHUR SPRINGS RD ASHEVILLE,NC28806	NONE		GENERAL SUPPORT	5,000
BLACK MOUNTAIN COLLEGE MUS & ARTS CENTE PO BOX 18912 ASHEVILLE,NC28814	NONE		GENERAL SUPPORT	2,000
CHILDREN FIRST OF BUNCOMBE COUNTY INC PO BOX 16695 ASHEVILLE,NC28816	NONE		GENERAL SUPPORT	5,000
CONSERVING CAROLINA 847 CASE ST HENDERSONVILLE,NC28792	NONE		GENERAL SUPPORT	5,000
DOROTHEA DIX PARK CONSERVANCY PO BOX 28575 RALEIGH,NC27611	NONE		GENERAL SUPPORT	4,000
EAST COAST GREENWAY ALLIANCE 123 WEST MAIN STREET SUITE 220 DURHAM,NC27701	NONE		GENERAL SUPPORT	6,000
ENVIRONMENTAL DEFENSE FUND OF NC 4000 WESTCHASE BOULEVARD STE 510 RALEIGH,NC27607	NONE		GENERAL SUPPORT	10,000
GO GLOBAL NC - TEACHER SCHOLARSHIPS PO BOX 2162 WAKE FOREST,NC27588	NONE		TEACHER'S SCHOLARSHIP	13,000
GO GLOBAL NC - OPERATING SUPPORT PO BOX 2162 WAKE FOREST,NC27588	NONE		GENERAL SUPPORT	7,000
HELPMATE PO BOX 2263 ASHEVILLE,NC28802	NONE		GENERAL SUPPORT	8,000
HOMEWARD BOUND PO BOX 1166 ASHEVILLE,NC28802	NONE		GENERAL SUPPORT	10,000
LEAF GLOBAL ARTS 19 EAGLE STREET SUITE 120 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	4,000
LITERACY TOGETHER (COUNCIL) 31 COLLEGE PLACE SUITE B-221 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	3,000
MANNA FOOD BANK 627 SWANNANOA RIVER ROAD ASHEVILLE,NC288052445	NONE		GENERAL SUPPORT	7,000
MOUNTAIN HOUSING OPPORTUNITIES 53 SOUTH FRENCH BROAD AVE STE 100 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	5,000
MOUNTAIN TRUE 29 NORTH MARKET STREET SUITE 610 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	5,000
NC ARBORETUM SOCIETY 100 FREDERICK LAW OLMSTED WAY ASHEVILLE,NC288069315	NONE		GENERAL SUPPORT	10,000
NORTH CAROLINA ARTS FOUNDATION (NCAF) PO BOX 26263 RALEIGH,NC27611	NONE		GENERAL SUPPORT	10,000
NC CHAPTER OF THE NATURE CONSERVANCY 320 BLACKWELL STREET SUITE 200 DURHAM,NC27701	NONE		GENERAL SUPPORT	20,000
NC CONSERVATION NETWORK 234 FAYETTEVILLE ST 5TH FLOOR RALEIGH,NC27601	NONE		GENERAL SUPPORT	5,000
OPEN DOORS OF ASHEVILLE 290 HAYWOOD RD SUITE 204 ASHEVILLE,NC28806	NONE		GENERAL SUPPORT	10,000
PARTNERSHIP FOR APPALACHIAN GIRLS' EDU 177 BAILEYS BRANCH RD OFFICE 10 MARSHALL,NC28753	NONE		GENERAL SUPPORT	6,000
PENLAND SCHOOL OF CRAFT PO BOX 37 PENLAND,NC28765	NONE		GENERAL SUPPORT	5,000
PISGAH LEGAL SERVICES PO BOX 2276 ASHEVILLE,NC28802	NONE		GENERAL SUPPORT	25,000
SOUTHERN APPALACHIAN HIGHLAND CONSERVANCY 372 MERRIMON AVENUE ASHEVILLE,NC288012710	NONE		GENERAL SUPPORT	5,000
SOUTHERN ENVIRONMENTAL LAW CENTER 136 EAST ROSEMARY ST SUITE 500 CHAPEL HILL,NC27514	NONE		GENERAL SUPPORT	10,000
SOUTHERN ENVIRONMENTAL LAW CENTER ASHEVILLE OFFICE 48 PATTON AVE SUITE 304 ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	10,000
RIVERLINK 170 LYMAN STREET ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	5,000
WARREN WILSON COLLEGE PO BOX 9000 ASHEVILLE,NC288159000	NONE		GENERAL SUPPORT	15,000
VERNER CENTER 2586 RICEVILLE ROAD ASHEVILLE,NC28805	NONE		GENERAL SUPPORT	7,500
SCIENCE ON THE FLY WOODWELL CLIM RES CEN 149 WOODS HOLE ROAD FALMOUTH,MA02540	NONE		GENERAL SUPPORT	5,000
YWCA 185 S FRENCH BROAD AVE ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	10,000
WORTHAM CENTER (PACK PL PERFORMING ARTS) 18 BILTMORE AVENUE ASHEVILLE,NC28801	NONE		GENERAL SUPPORT	8,000
TRIANGLE LAND CONSERVANCY INC PO BOX 1848 DURHAM,NC27702	NONE		GENERAL SUPPORT	7,000
Total ................................. 3a				299,500

bApproved for future payment

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

Form 990-PF (2025)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....			14	165,108
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	437,246
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) ..				602,354

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

602,354

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2025)

Page 13

Part XVI

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

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2025)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADR FEE	17	17		0
OTHER EXPENSES	990	0		990

Category	Amount	Net Investment Income
FEDERAL TAX PAYMENT - PY	3,307	0
FOREIGN TAXES QUALIFIED	2,137	2,137
FOREIGN TAXES NONQUALIFIED	1,319	1,319
FEDERAL ESTIMATE PAYMENTS	6,168	0