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
Vermont Foundation for Children &
Families

Number and street (or P.O. box number if mail is not delivered to street address) 102 S Winooski Ave
Room/suite

City or town
Burlington

State or province
VT

Country

ZIP or foreign postal code
05401

A Employer identification number

22-3030227

B Telephone number (see instructions)

8024886906

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)$6,868,851J 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	(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	1,698		1,698
4	Dividends and interest from securities...	211,149		205,511
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		0
b	Gross sales price for all assets on line 6a 804,447
7	Capital gain net income (from Part IV, line 2)...			31,820
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	0	435
12	Total. Add lines 1 through 11........	212,847		239,464
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	3,950	3,160	3,102
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	47,930	44,495	3,099
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	2,500	1,018	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	1,817	2,802	1,850
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	56,197		51,475	8,051
25	Contributions, gifts, grants paid.......	293,990			293,990
26	Total expenses and disbursements. Add lines 24 and 25 ................	350,187		51,475	302,041
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-137,340
b	Net investment income (if negative, enter -0-)			187,989
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2025)

Page 2

Part II		Balance Sheets	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.............	42,269	48,872	48,872
	2	Savings and temporary cash investments.........	412,036	130,750	130,750
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	1,298	1,331	1,331
	10a	Investments—U.S. and state government obligations (attach schedule)	689,879	List of Attached Documents: // Content 1,172,377	1,172,377
	b	Investments—corporate stock (attach schedule).......	4,239,956	List of Attached Documents: // Content 4,627,996	4,627,996
	c	Investments—corporate bonds (attach schedule).......	242,197	List of Attached Documents: // Content 281,554	281,554
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	985,199	List of Attached Documents: // Content 605,971	605,971
	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)	6,612,834	6,868,851	6,868,851
	17	Accounts payable and accrued expenses..........	3,750	1,439
	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).........	3,750	1,439
		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........	6,609,084	6,867,412
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	6,609,084	6,867,412
	30	Total liabilities and net assets/fund balances (see instructions).	6,612,834	6,868,851

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

6,609,084

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

-137,340

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

List of Attached Documents:

// Content

395,668

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

6,867,412

Decreases not included in line 2 (itemize)

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

6,867,412

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	Publicly Traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	804,447	772,627	31,820
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			31,820
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	31,820
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	2,613
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	2,613
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	2,613
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	1,650
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	963
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	2,613
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	0
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax	Refunded	11
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

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. $ 0(2) On foundation managers.$ 0

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

on foundation managers.$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

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

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

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

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

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

Yes

Website addressN/A

The books are in care ofSteven Maneely Telephone no. (802) 488-6906

Located at102 S Winooski AveBurlingtonVT ZIP+405401

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

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

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

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

16 No

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

Form 990-PF (2025)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2025)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Sandra L McGuire	President 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	President 1.00	0	0	0
John McSoley	Chair 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Chair 1.00	0	0	0
Steven Maneely	Treasurer 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Treasurer 1.00	0	0	0
Jessica Lake	Secretary 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Secretary 1.00	0	0	0
Geraldine Bloomberg	Director 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Director 1.00	0	0	0
Matthew Frazee	Director 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Director 1.00	0	0	0
Walter McCarthy	Director 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Director 1.00	0	0	0
Mat Robitaille	Director 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Director 1.00	0	0	0
Kelsi Cross	Past Secretary 1.00	0	0	0
102 S Winooski Ave Burlington,VT05401	Past Secretary 1.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				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	No Direct Charitable Activities	0
2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3.........................0

Form 990-PF (2025)

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

6,454,476

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

131,622

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

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

6,586,098

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

6,586,098

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

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

98,791

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

6,487,307

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

324,365

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

324,365

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

2,613

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

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

2,613

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

321,752

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

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

321,752

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

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

321,752

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) ..........

302,041

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. .......

302,041

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				321,752
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......			289,967
b Total for prior years:20 , 20, 20		0
3 Excess distributions carryover, if any, to 2025:
a From 2020......
b From 2021......
c From 2022......
d From 2023......
e From 2024......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 302,041
a Applied to 2024, but not more than line 2a			289,967
b Applied to undistributed income of prior years (Election required—see instructions) .....		List of Attached Documents: // Content 0
c Treated as distributions out of corpus (Election required—see instructions) ........	0
d Applied to 2025 distributable amount.....				12,074
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2025.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........		0
e Undistributed income for 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2025. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2026 ..........				309,678
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......	0
8 Excess distributions carryover from 2020 not applied on line 5 or line 7 (see instructions) ...	0
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2021 ....
b Excess from 2022 ....
c Excess from 2023 ....
d Excess from 2024 ....
e Excess from 2025 ....

Form 990-PF (2025)

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
Howard Center Inc 102 South Winooski Avenue Burlington,VT05401			Program Funding	293,990
Total ................................. 3a				293,990

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2025)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	1,698
4 Dividends and interest from securities ....			14	211,149
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 .....			14
8 Gain or (loss) from sales of assets other than inventory ............			18
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		212,847	0

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

212,847

(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

- TIN:

TY 2025 AccountingFeesSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Accounting Fees	3,950	3,160		3,102

- TIN:

TY 2025 AppliedToPriorYearElection

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Election:

Vermont Foundation for Children & Families is electing to apply current year excess qualifying distributions to prior years under Section 53.4942(a)-3.

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Name of Bond	End of Year Book Value	End of Year Fair Market Value
50000 Shrs of BANK OF AMERICA CORP FXD TO 032026 VAR THRAFTR 6.3000%	51,014	51,014
50000 Shrs of BANK OF AMERICA CORP FXD TO 032028 VAR THRAFTR 5.8750%	51,641	51,641
100000 Shrs of CITIGROUP INC FXD TO 082026 VAR THRAFTR 6.2500%	102,758	102,758
50000 Shrs of PNC FIN SERVICES GROUP INC FXD TO 092027 VAR THRAFTR 6.2%	50,954	50,954
25000 Shrs of WALT DISNEY CO/THE	25,187	25,187

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Name of Stock	End of Year Book Value	End of Year Fair Market Value
1500 Shrs of INTACT FINL CORP CL A	23,571	23,571
1500 Shrs of STATE STREET SPDR S&P DIVIDEND (SDY)	208,740	208,740
3012 Shrs of VANGUARD INTERMEDIATE TERM COR (VCIT)	252,255	252,255
220 Shrs of VANGUARD MID-CAP ETF INDEX (VO)	63,848	63,848
390 Shrs of VANGUARD SMALL CAP ETF (VB)	100,600	100,601
1000 Shrs of ALPHABET INC CL A (GOOGL)	204,047	204,047
1100 Shrs of AMAZON COM INC (AMZN)	253,902	253,902
306 Shrs of AMGEN INC (AMGN)	90,646	90,646
1140 Shrs of APPLE INC (AAPL)	268,027	268,027
500 Shrs of BERKSHIRE HATHAWAY CL-B NEW (BRK'B)	220,015	220,015
37 Shrs of BLACKROCK INC (BLK)	39,603	39,603
400 Shrs of BROADCOM INC (AVGO)	113,707	113,707
290 Shrs of CARRIER GLOBAL CORPORATION (CARR)	15,324	15,324
459 Shrs of CATERPILLAR INC (CAT)	180,520	180,520
43 Shrs of CHEVRON CORP (CVX)	6,554	6,554
403 Shrs of CITIGROUP INC NEW (C)	47,026	47,026
100 Shrs of ELI LILLY & CO (LLY)	104,569	104,569
200 Shrs of GENL DYNAMICS CORP (GD)	59,932	59,932
329 Shrs of HOME DEPOT INC (HD)	113,208	113,208
300 Shrs of HONEYWELL INTL INC (HON)	58,445	58,444
200 Shrs of JPMORGAN CHASE & CO (JPM)	39,670	39,670
200 Shrs of LOCKHEED MARTIN CORP (LMT)	94,909	94,909
59 Shrs of LOWES COMPANIES INC (LOW)	14,228	14,228
100 Shrs of MASTERCARD INC CL A (MA)	57,088	57,088
200 Shrs of MICROSOFT CORP (MSFT)	92,793	92,793
1600 Shrs of NEXTERA ENERGY INC (NEE)	123,648	123,648
376 Shrs of NVIDIA CORPORATION (NVDA)	57,309	57,309
145 Shrs of OTIS WORLDWIDE CORP (OTIS)	12,666	12,666
200 Shrs of PALO ALTO NETWORKS INC (PANW)	36,840	36,840
1044 Shrs of PROCTER & GAMBLE (PG)	149,616	149,616
264 Shrs of PROLOGIS INC COM (PLD)	31,154	31,154
334 Shrs of PRUDENTIAL FINANCIAL INC (PRU)	37,702	37,702
290 Shrs of RTX CORPORATION (RTX)	53,186	53,186
200 Shrs of SALESFORCE INC (CRM)	52,982	52,982
75 Shrs of SOLSTICE ADVANCED MATLS INC (SOLS)	3,644	3,644
571 Shrs of STARWOOD PROPERTY TRUST INC (STWD)	10,284	10,284
269 Shrs of THERMO FISHER SCIENTIFIC (TMO)	155,038	155,038
1100 Shrs of UBER TECHNOLOGIES INC (UBER)	89,881	89,881
440 Shrs of VISA INC CL A (V)	133,135	133,135
1486 Shrs of GOLDMAN SACHS ACCESS TRE 0-1 Y (GBIL)	148,511	148,511
415 Shrs of VANGUARD INFO TECH ETF (VGT)	312,819	312,819
694 Shrs of VANGUARD SM CAP GROWTH ETF (VBK)	209,664	209,664
314 Shrs of 3I GROUP PLC UNSPONS ADR (TGOPY)	3,445	3,445
244 Shrs of ADYEN N V UNSPONSRED ADR (ADYEY)	3,940	3,940
40.447 Shrs of AGNICO EAGLE MINES LTD (AEM)	6,857	6,857
114 Shrs of AIRBUS SE UNSPONSORED ADR (EADSY)	6,641	6,641
52.564 Shrs of ALCON INC (ALC)	4,143	4,143
5.791 Shrs of ARGENX SE ADR (ARGX)	4,870	4,870
10.956 Shrs of ASML HOLDING NV NY REG NEW (ASML)	11,721	11,721
101 Shrs of ASTRAZENECA PLC ADR (AZN)	9,285	9,285
100 Shrs of AXA ADS (AXAHY)	4,811	4,811
47.933 Shrs of BAE SYS PLC SPON ADR (BAESY)	4,420	4,420
585 Shrs of BANCO SANTANDER S.A. (SAN)	6,862	6,862
159 Shrs of BRAMBLES LTD SPONSORED ADR (BXBLY)	4,869	4,869
213.602 Shrs of BYD COMPANY LTD UNSPON ADR (BYDDY)	2,617	2,617
12.913 Shrs of CELESTICA INC (CLS)	3,817	3,817
20.827 Shrs of CHECK POINT SOFTWARE TECH LTD (CHKP)	3,865	3,865
267 Shrs of COMPAGNIE FIN RICHEMONTAG ADR (CFRUY)	5,798	5,798
405 Shrs of DANONE SPONSORED ADR (DANOY)	7,304	7,304
268 Shrs of E.ON SE (EONGY)	5,075	5,075
23.833 Shrs of ESSILORLUXOTTICA ADR (ESLOY)	3,777	3,777
9.329 Shrs of FERRARI N V (RACE)	3,448	3,448
24 Shrs of GALDERMA GROUP AG ADR (GALDY)	995	995
27.74 Shrs of GIVAUDAN SA ADR (GVDNY)	2,203	2,203
16.812 Shrs of HERMES INTL SCA UNSPON ADR (HESAY)	4,190	4,190
27.807 Shrs of HOYA CORP SPONS ADR (HOCPY)	4,202	4,202
94.574 Shrs of HSBC HOLDINGS PLC SPON ADR NEW (HSBC)	7,440	7,440
440 Shrs of INDUSTRIA DE DISENO TEXTIL IND (IDEXY)	7,278	7,278
179 Shrs of INTESA SANPAOLO S.P.A. ADR (ISNPY)	7,469	7,469
57.887 Shrs of L OREAL CO ADR (LRLCY)	4,985	4,985
72.022 Shrs of LENOVO GROUP LTD SPONS ADR (LNVGY)	1,714	1,714
95.968 Shrs of LONDON STOCK EXCHANGE GRP ADR (LSEGY)	2,889	2,889
86 Shrs of MITSUBISHI HEAVY INDS LTD ADR (MHVIY)	2,107	2,107
404 Shrs of MITSUBISHI UFJ FINCL GRP ADS (MUFG)	6,407	6,407
466 Shrs of NATWEST GROUP PLC ADR (NWG)	8,155	8,155
74.773 Shrs of NOMURA RESH INST LTD ADR (NRILY)	2,872	2,872
55.078 Shrs of NOVONESIS (NOVOZYMES) B ADR (NVZMY)	3,532	3,532
115 Shrs of PRYSMIAN S P A MILANO ADR (PRYMY)	5,833	5,833
106 Shrs of RELX PLC SPONSORED ADR (RELX)	4,284	4,284
57.722 Shrs of ROCHE HOLDINGS ADR (RHHBY)	2,977	2,977
47.974 Shrs of RYANAIR HLDGS PLC ADR (RYAAY)	3,463	3,463
76.519 Shrs of SAFRAN SA (SAFRY)	6,682	6,682
36.295 Shrs of SAP AG (SAP)	8,816	8,816
123 Shrs of SCHNEIDER ELEC SA UNSP ADR (SBGSY)	6,787	6,787
53.581 Shrs of SEA LIMITED ADR (SE)	6,835	6,835
17.437 Shrs of SHOPIFY INC CL A (SHOP)	2,807	2,807
66.838 Shrs of SIEMENS ENERGY AG ADR (SMNEY)	9,451	9,451
51.392 Shrs of SOFTBANK CORP UNSPONS ADR (SFTBY)	2,914	2,914
342.534 Shrs of SONY GROUP CORPORATION ADR (SONY)	8,769	8,769
24.532 Shrs of TAIWAN SMCNDCTR MFG CO LTD ADR (TSM)	7,455	7,455
89.399 Shrs of TENCENT HLDGS LTD UNSPON ADR (TCEHY)	6,843	6,843
256 Shrs of TERUMO CORP ADR UNSPONS ADR (TRUMY)	3,707	3,707
400 Shrs of TESCO PLC ADR (TSCDY)	7,131	7,131
41.515 Shrs of TOKYO ELECTRON LTD UNSPON ADR (TOELY)	4,545	4,545
39.22 Shrs of UCB SA UNSPON ADR (UCBJY)	5,495	5,495
105 Shrs of UNILEVER PLC NEW ADR (UL)	6,867	6,867
58.171 Shrs of ZAI LAB LTD-ADR (ZLAB)	1,026	1,026

- TIN:

TY 2025 InvestmentsGovtObligationsSch

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

US Government Securities - End of Year Book Value:

1,141,804

US Government Securities - End of Year Fair Market Value:

1,141,804

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

30,573

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

30,573

- TIN:

TY 2025 InvestmentsOtherSchedule2

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
117455.34 Shrs of INVESCO PREM US GOVT MNY INST (IUGXX)	FMV	117,455	117,455
388516.24 Shrs of MSILF GOVERNMENT INST (MVRXX)	FMV	388,516	388,516
100000 Shrs of MSILF GOVERNMENT INST (MVRXX)	FMV	100,000	100,000

- TIN:

TY 2025 OtherExpensesSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Insurance	1,742	0	1,775
Accrued Interest	0	2,802	0
Miscellaneous Expenses	75	0	75

- TIN:

TY 2025 OtherIncomeSchedule2

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
Other Income	0	435	0

- TIN:

TY 2025 OtherIncreasesSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Description	Amount
Unrealized Gain on Investments	395,668

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Consulting Fee	15,494	12,395		3,099
Investment Management Fees	32,436	32,100		0

- TIN:

TY 2025 TaxesSchedule

Name:

Vermont Foundation for Children &

Families

EIN:

22-3030227

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Foreign Taxes	0	1,018		0
Excise Taxes	2,500	0		0