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 FOURTEN FOUNDATION
C/O PKF O'CONNOR DAVIES ADVISORY LLC
Number and street (or P.O. box number if mail is not delivered to street address) 20 COMMERCE DRIVE 301
  Room/suite
City or town
CRANFORD
State or province
NJ
Country  
ZIP or foreign postal code
07016
A Employer identification number

86-3735206
B Telephone number (see instructions)

9082726200
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$49,686,512J Accounting method:
modified cash
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments 8,992 8,992  
4 Dividends and interest from securities... 860,857 860,857  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,791,246
b Gross sales price for all assets on line 6a 11,850,217
7 Capital gain net income (from Part IV, line 2)... 1,791,246
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 2,661,095 2,661,095  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
19,520 0   19,520
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
13,455 0   13,455
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
264,801 264,801   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
15,093 9,093   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,031 4,006   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 316,900 277,900   33,000
25 Contributions, gifts, grants paid....... 2,000,000 2,000,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 2,316,900 277,900   2,033,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 344,195
b Net investment income (if negative, enter -0-) 2,383,195
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 745,656 1,032,425 1,032,425
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 10,510,636 Click to see attachment
List of Attached Documents:
// Content
11,242,442 		11,242,442
c Investments—corporate bonds (attach schedule)....... 8,293,850 Click to see attachment
List of Attached Documents:
// Content
9,820,945 		9,820,945
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 25,797,990 Click to see attachment
List of Attached Documents:
// Content
27,590,700 		27,590,700
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) 45,348,132 49,686,512 49,686,512
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 45,348,132 49,686,512
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 45,348,132 49,686,512
30 Total liabilities and net assets/fund balances (see instructions). 45,348,132 49,686,512
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
45,348,132
2
Enter amount from Part I, line 27a .....................
2
344,195
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
3,994,185
4
Add lines 1, 2, and 3 ..........................
4
49,686,512
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
49,686,512
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a SALE OF PUBLICLY TRADED SECURITIES P    
b SALES OF DONATED SECURITIES D    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 11,849,774   10,058,617 1,791,157
b 443   354 89
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       1,791,157
b       89
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,791,246
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 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 33,126
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 33,126
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 33,126
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 22,312
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 22,312
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
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 10,814
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax   Refunded 11  
For Refunded amount, also complete and attach Form 8050. See instructions.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
DE
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofUBS PRIVATE WEALTH MANAGEMENT Telephone no. (704) 362-8248

Located at6100 FAIRVIEW ROAD 9TH FLCHARLOTTENC ZIP+428210
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
GEORGE F OHRSTROM - CO PKFOD LLP PRESIDENT, SEC. & DIRECTOR
0.50 		0 0 0
20 COMMERCE DRIVE STE 301
CRANFORD,NJ07016
CLARKE OHRSTROM - CO PKFOD LLP VP, TREASURER, & DIRECTOR
0.50 		0 0 0
20 COMMERCE DRIVE STE 301
CRANFORD,NJ07016
WRIGHT OHRSTROM - CO PKFOD LLP DIRECTOR
0.50 		0 0 0
20 COMMERCE DRIVE STE 301
CRANFORD,NJ07016
WINIFRED O NICHOLS - CO PKFOD LLP DIRECTOR
0.50 		0 0 0
20 COMMERCE DRIVE STE 301
CRANFORD,NJ07016
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
UBS FINANCIAL SERVICES INC INVESTMENT MANAGEMENT FEES 264,801
6100 FAIRVIEW ROAD 9TH FLOOR
CHARLOTTE,NC28210
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
47,237,493
b
Average of monthly cash balances.......................
1b
383,498
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
47,620,991
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
47,620,991
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
714,315
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
46,906,676
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
2,345,334
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,345,334
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
33,126
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
33,126
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,312,208
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,312,208
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,312,208
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
2,033,000
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,033,000
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 2,312,208
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 1,854,537
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: $ 2,033,000
a Applied to 2024, but not more than line 2a 1,854,537
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..... 178,463
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 .......... 		2,133,745
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ADVENTURERS AND SCIENTISTS FOR CONSERVATION

PO BOX 1834
BOZEMAN,MT59771 		N/A   GENERAL OPERATIONS 82,000

BONEFISH & TARPON TRUST

2937 SW 27TH AVENUE 203
MIAMI,FL33133 		N/A   GENERAL OPERATIONS 25,000

BRIDGER SKI FOUNDATION

PO BOX 1243
BOZEMAN,MT59771 		N/A   GENERAL OPERATIONS 10,000

CLIFTON INSTITUTE

6712 BLANTYRE RD
WARRENTON,VA20187 		N/A   GENERAL OPERATIONS 25,000

GALLATIN VALLEY LAND TRUST

212 S WALLACE AVE 101
BOSEMAN,MT59715 		N/A   THE OUTSIDE KIND PROGRAM 20,000

GALLATIN VALLEY LAND TRUST

212 S WALLACE AVE 101
BOSEMAN,MT59715 		N/A   WHITNEY TILT'S FLORA OF YELLOWSTONE BOOK 6,000

GLENWOOD PARK TRUST

C/O YOUNT HYDE BARBOUR PO BOX 467
MIDDLEBURG,VA20118 		N/A   GENERAL OPERATIONS 100,000

INATURALIST

PO BOX 150357
SAN RAFAEL,CA94915 		N/A   GENERAL OPERATIONS 25,000

JOHNS HOPKINS UNIVERSITY - DEPARTMENT OF NEUROLOGY

550 NORTH BROADWAY SUITE 727
BALTIMORE,MD21205 		N/A   GENERAL OPERATIONS 50,000

MIDDLEBURG HUMANE FOUNDATION

PO BOX 684
MARSHALL,VA20116 		N/A   GENERAL OPERATIONS 15,000

NATIONAL PARK FOUNDATION

1500 K STREET NW SUITE 700
WASHINGTON,DC20005 		N/A   GENERAL OPERATIONS 50,000

NORTH YELLOWSTONE EDUCATION FOUNDATION

PO BOX 1085
GARDINER,MT59030 		N/A   GARDINER SCHOOL-UNRESTRICTED FOR GENERAL OPERATIONS 50,000

PARK COUNTY COMMUNITY FOUNDATION

104 SOUTH MAIN STREET
LIVINGSTON,MT59047 		N/A   GIVE A HOOT CAMPAIGN TO BENEFIT THE NORTH YELLOWSTONE EDUCATION FOUNDATION 50,000

PLAINS VOLUNTEER FIRE CO

PO BOX 93
THE PLAINS,VA20198 		N/A   GENERAL OPERATIONS 5,000

PROPERTY AND ENVIRONMENT RESEARCH CENTER (PERC)

2048 ANALYSIS DRIVE SUITE A
BOZEMAN,MT59718 		N/A   GENERAL OPERATIONS 60,000

THE REASON FOUNDATION

5737 MESMER AVENUE
LOS ANGELES,CA90230 		N/A   GENERAL OPERATIONS 135,000

THEODORE ROOSEVELT CONSERVATION PARTNERSHIP

529 14TH ST NW SUITE 500
WASHINGTON,DC20045 		N/A   GENERAL OPERATIONS 25,000

TOOTHPICK PROJECT

807 S 6TH AVENUE
BOZEMAN,MT59715 		N/A   GENERAL OPERATIONS 50,000

VANGUARD CHARITABLE ENDOWMENT PROGRAM

PO BOX 9509
WARWICK,RI02889 		N/A   THE SALMSON FUND 1,067,000

WAKEFIELD SCHOOL INC

PO BOX 107
THE PLAINS,VA20198 		N/A   GENERAL OPERATIONS 100,000

YELLOWSTONE FOREVER

222 EAST MAIN STREEET SUITE 301
BOZEMAN,MT59715 		N/A   GENERAL OPERATIONS 50,000
Total ................................. 3a 2,000,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 8,992  
4 Dividends and interest from securities ....     14 860,857  
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 1,791,246  
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) .. 0 2,661,095 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,661,095
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING AND TAX PREPARATION FEES 13,455 0   13,455

TY 2025 InvestmentsCorpBondsSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC NTS B/E 04.875% 122000 UNITS 125,805 125,805
AIR LEASE CORP 02.875% 360000 UNITS 359,806 359,806
AMERICAN EXPRESS CO NTS 05.043% 110000 UNITS 111,871 111,871
AMERICAN HONDA FIN NTS 05.650% 330000 UNITS 344,312 344,312
AON CORP B/E 02.800% 350000 UNITS 330,722 330,722
ASBURY AUTO GROUP INC 04.500% 23000 UNITS 22,934 22,934
ASBURY AUTO GROUP INC 04.750% 43000 UNITS 42,383 42,383
BHP BILLITON FIN LTD NTS 05.250% 32000 UNITS 32,292 32,292
BOYD GAMING CORP NTS B/E 04.750% 28000 UNITS 27,964 27,964
BP CPTL MARK AMER INC 04.699% 56000 UNITS 57,127 57,127
BP CPTL MARK AMER INC 04.868% 102000 UNITS 104,708 104,708
BROADCOM INC NTS B/E 04.600% 78000 UNITS 79,310 79,310
BUCKEYE PARTNERS L P B/E 03.950% 29000 UNITS 28,687 28,687
CEDAR FAIR/CAN/MAGNUM/MI 05.375% 38000 UNITS 37,851 37,851
CEDAR FAIR/CAN/MAGNUM/MI 06.500% 15000 UNITS 14,700 14,700
CELANESE US HOLDINGS LLC 06.165% 30000 UNITS 30,923 30,923
CELANESE US HOLDINGS LLC 06.600% 27000 UNITS 28,246 28,246
CENTENE CORP NTS B/E 02.450% 34000 UNITS 31,840 31,840
CENTENE CORP NTS B/E 04.250% 41000 UNITS 40,758 40,758
CHEMOURS CO NTS B/E 05.375% 33000 UNITS 33,083 33,083
CITIGROUP INC NTS B/E 03.070% 90000 UNITS 88,984 88,984
COMCAST CORP NTS B/E 05.100% 330000 UNITS 340,808 340,808
DANA HLDG CORP NTS B/E 05.375% 33000 UNITS 32,946 32,946
DTE ENERGY CO NTS B/E 05.200% 322000 UNITS 332,446 332,446
ELEVANCE HEALTH INC NTS 04.750% 44000 UNITS 44,904 44,904
ELI LILLY & CO NTS B/E 04.750% 138000 UNITS 142,020 142,020
ENCOMPASS HEALTH CORP 04.500% 28000 UNITS 27,951 27,951
FISERV INC B/E 3.500% 78000 UNITS 75,692 75,692
GENL MOTORS FINL CO INC 04.350% 336000 UNITS 336,722 336,722
GENL MOTORS FINL CO INC 05.350% 36000 UNITS 37,202 37,202
GOLDMAN SACHS GROUP INC 03.850% 292000 UNITS 291,769 291,769
GOODYEAR TIRE & RUBBER 04.875% 39000 UNITS 39,064 39,064
GOODYEAR TIRE & RUBBER 5.000% 27000 UNITS 26,379 26,379
HCA INC NTS B/E 05.250% 324000 UNITS 324,253 324,253
HILTON WORLDWIDE FIN LLC 04.875% 10000 UNITS 10,005 10,005
HUNTSMAN INTL LLC B/E 04.500% 19000 UNITS 18,231 18,231
ICAHN ENTERPRISES L P / 05.250% 38000 UNITS 37,478 37,478
ICAHN ENTERPRISES L P / 06.250% 7000 UNITS 6,995 6,995
JOHN DEERE CPTL CORP 04.500% 116000 UNITS 117,915 117,915
JPMORGAN CHASE & CO NTS 01.470% 110000 UNITS 107,999 107,999
JPMORGAN CHASE & CO NTS 03.625% 338000 UNITS 336,327 336,327
JPMORGAN CHASE & CO NTS 05.581% 36000 UNITS 37,580 37,580
L BRANDS INC NTS B/E 06.694% 27000 UNITS 27,507 27,507
LAMAR MEDIA CORP NTS B/E 03.750% 43000 UNITS 42,221 42,221
MARRIOTT OWNERSHIP 04.750% 42000 UNITS 41,371 41,371
MCKESSON CORP NTS B/E 04.650% 46000 UNITS 46,840 46,840
META PLATFORMS INC NTS 04.200% 336000 UNITS 337,152 337,152
MGM RESORTS INTL B/E 04.625% 32000 UNITS 32,009 32,009
MGM RESORTS INTL NTS B/E 05.500% 39000 UNITS 39,311 39,311
MORGAN STANLEY B/E 03.625% 342000 UNITS 341,145 341,145
NATIONAL RURAL UTIL COOP 05.150% 312000 UNITS 322,898 322,898
NAVIENT CORP NTS B/E 04.875% 37000 UNITS 36,586 36,586
NAVIENT CORP NTS B/E 05.000% 20000 UNITS 20,038 20,038
NRG ENERGY INC NTS B/E 05.750% 11000 UNITS 11,042 11,042
NUSTAR LOGISTICS L P B/E 05.625% 37000 UNITS 37,431 37,431
NUSTAR LOGISTICS LP B/E 06.375% 32000 UNITS 33,680 33,680
NVIDIA CORP B/E 02.850% 364000 UNITS 348,009 348,009
OCEANEERING INTL INC NTS 06.000% 38000 UNITS 38,471 38,471
OLIN CORP B/E 05.625% 28000 UNITS 28,150 28,150
ONEMAIN FINL CORP NTS 03.500% 40000 UNITS 39,610 39,610
ORACLE CORP NTS B/E 04.450% 324000 UNITS 317,202 317,202
PACIFIC GAS & ELEC NTS 02.100% 384000 UNITS 372,326 372,326
PACIFIC GAS & ELEC NTS 03.150% 69000 UNITS 69,000 69,000
PAYPAL HOLDINGS INC NTS 02.850% 382000 UNITS 366,139 366,139
PENSKE AUTO GROUP INC 03.750% 32000 UNITS 31,012 31,012
PFIZER INVT ENTER NTS 04.450% 260000 UNITS 263,528 263,528
PG & E CORP NTS B/E 05.000% 34000 UNITS 33,901 33,901
PG&E CORP NTS B/E 05.250% 44000 UNITS 43,688 43,688
ROYAL CARIBBEAN CRUISES 07.500% 27000 UNITS 28,527 28,527
SOUTHERN CAL EDISON NTS 05.850% 192000 UNITS 197,315 197,315
SPRINGLEAF FIN CORP NTS 06.625% 28000 UNITS 28,748 28,748
SVC CORP INTL NTS B/E 05.125% 30000 UNITS 30,198 30,198
TEGNA INC NTS B/E 04.625% 36000 UNITS 35,634 35,634
TENET HEALTHCARE CORP 06.125% 44000 UNITS 45,025 45,025
TENET HEALTHCARE CORP 06.125% 26000 UNITS 26,118 26,118
TEVA PHARMACEUTICAL NE 03.150% 14000 UNITS 13,838 13,838
THERMO FISHER SCIENTIFIC 05.000% 126000 UNITS 127,242 127,242
T-MOBILE USA INC NTS B/E 04.850% 68000 UNITS 69,501 69,501
TOYOTA MOTOR CRDT CORP 04.550% 352000 UNITS 358,090 358,090
TRANSDIGM INC NTS B/E 04.625% 31000 UNITS 30,794 30,794
TRAVEL + LEISURE CO B/E 06.000% 29000 UNITS 29,438 29,438
TRI POINTE GROUP INC NTS 5.250% 39000 UNITS 39,184 39,184
TRUIST FINANCIAL CORP 04.873% 326000 UNITS 331,262 331,262
UNITED RENTALS NORTH AM 04.875% 22000 UNITS 22,000 22,000
VICI PROPERTIES LP NTS 04.750% 33000 UNITS 33,332 33,332
WELLS FARGO & CO B/E 03.000% 354000 UNITS 351,437 351,437
WESTERN DIGITAL CORP NTS 04.750% 4000 UNITS 4,003 4,003

TY 2025 InvestmentsCorpStockSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Name of Stock End of Year Book Value End of Year Fair Market Value
ACI WORLDWIDE INC 376 SHRS 17,977 17,977
ACUITY INC 97 SHRS 34,924 34,924
ADIDAS AG SPON ADR 37 SHRS 3,657 3,657
ADVANTEST CORP ADR 322 SHRS 40,677 40,677
ADYEN N V ADR 2256 SHRS 36,028 36,028
AECOM 252 SHRS 24,023 24,023
AFFILIATED MANAGERS GROUP 145 SHRS 41,801 41,801
AIA GROUP LTD SPON ADR 731 SHRS 29,993 29,993
AIRBUS SE UNSPONSORED ADR 1174 SHRS 67,998 67,998
ALIBABA GROUP HLDG LTD SPON ADR 371 SHRS 54,381 54,381
ALLEGION PLC 806 SHRS 128,331 128,331
ALLISON TRANSMISSION HLDGS INC 609 SHRS 59,621 59,621
ALLSTATE CORP 183 SHRS 38,091 38,091
AMBEV SA SPON ADR 5491 SHRS 13,563 13,563
AMERICAN WATER WORKS CO INC NEW 341 SHRS 44,501 44,501
AMETEK INC (NEW) 400 SHRS 82,124 82,124
AMPHASTAR PHARMACEUTICALS INC 293 SHRS 7,847 7,847
APPLE HOSPITALITY REIT INC 1397 SHRS 16,554 16,554
APPLIED INDL TECH INC 117 SHRS 30,042 30,042
ARCH CAPITAL GROUP LTD (BERMUDA) 395 SHRS 37,888 37,888
ARGENX SE SPON ADR 80 SHRS 67,276 67,276
ARMSTRONG WORLD INDUSTRIES INC NEW 211 SHRS 40,322 40,322
ASML HLDG NV SPON ADR 74 SHRS 79,170 79,170
ASSURANT INC 146 SHRS 35,164 35,164
AUTONATION INC 38 SHRS 7,846 7,846
AVIENT CORP 168 SHRS 5,248 5,248
AXALTA COATING SYS LTD 535 SHRS 17,286 17,286
BAE SYSTEMS PLC SPON ADR 154 SHRS 14,304 14,304
BANCFIRST CORP 57 SHRS 6,043 6,043
BANGKOK BK PLC ADR 289 SHRS 8,049 8,049
BANK OZK 100 SHRS 4,602 4,602
BARRICK MINING CORP 373 SHRS 16,244 16,244
BATH & BODY WKS INC 488 SHRS 9,799 9,799
BEACON FINANCIAL CORP 151 SHRS 3,982 3,982
BELDEN INC NEW 206 SHRS 24,009 24,009
BENTLEY SYSTEMS INC CL B 2690 SHRS 102,664 102,664
BERKELEY GROUP HLDGS PLC ADR 977 SHRS 10,669 10,669
BERKLEY W R CORP 1986 SHRS 139,258 139,258
BJS WHSL CLUB HLDGS INC 1333 SHRS 120,010 120,010
BLACKBAUD INC 77 SHRS 4,876 4,876
BORGWARNER INC 685 SHRS 30,866 30,866
BOYD GAMING CORP 104 SHRS 8,865 8,865
BRENNTAG SE UNSPON ADR 232 SHRS 2,687 2,687
BRIGHT HORIZONS FAMILY SOLUTIONS INC 892 SHRS 90,449 90,449
BRITISH AMER TOBACCO PLC GB SPON ADR 604 SHRS 34,198 34,198
BROADRIDGE FINANCIAL SOLUTIONS INC 113 SHRS 25,218 25,218
BRUNELLO CUCINELLI SPA UNSPONSORED ADR 3642 SHRS 42,575 42,575
BUILD A BEAR WORKSHOP INC 107 SHRS 6,556 6,556
BYD CO LTD ADR 2605 SHRS 31,547 31,547
CACI INTL INC CL A 26 SHRS 13,853 13,853
CADENCE BK 559 SHRS 23,948 23,948
CAPITEC BK HLDGS LTD ADR 216 SHRS 27,087 27,087
CARLISLE COS INC 87 SHRS 27,828 27,828
CBRE GROUP INC CL A 453 SHRS 72,838 72,838
CENCORA INC 317 SHRS 107,067 107,067
CHEMED CORP NEW 152 SHRS 65,035 65,035
CHINA MERCHANTS BK CO LTD UNSPONSORED ADR 800 SHRS 27,056 27,056
CHOICE HOTELS INTL INC NEW 663 SHRS 63,157 63,157
CHORD ENERGY CORP 69 SHRS 6,396 6,396
CIRRUS LOGIC INC 320 SHRS 37,920 37,920
CITIZENS FINANCIAL GROUP INC 1541 SHRS 90,010 90,010
CLEAN HARBORS INC 23 SHRS 5,393 5,393
CLICKS GROUP LTD SPON ADR 236 SHRS 9,591 9,591
COLLEGIUM PHARMACEUTICAL INC 315 SHRS 14,585 14,585
COMFORT SYSTEMS USA INC 60 SHRS 55,997 55,997
COMMERCIAL METALS CO 814 SHRS 56,345 56,345
COMMVAULT SYSTEMS INC 80 SHRS 10,029 10,029
COMPAGNIE FINANCIERE RICHEMONT AG ADR 4027 SHRS 86,701 86,701
COMPANIA CERVECERIAS UNIDAS S A CHILE SPON ADR 766 SHRS 9,774 9,774
COMPASS GROUP PLC SPON ADR 2048 SHRS 65,516 65,516
CRANE CO 27 SHRS 4,980 4,980
CROCS INC 188 SHRS 16,078 16,078
CROWN HOLDINGS INC 248 SHRS 25,537 25,537
CSG SYSTEMS INTL INC 300 SHRS 23,007 23,007
CURTISS WRIGHT CORP 162 SHRS 89,306 89,306
CYBER-ARK SOFTWARE LTD ILS 100 SHRS 44,606 44,606
DANONE SPON ADR 937 SHRS 16,903 16,903
DARDEN RESTAURANTS INC 349 SHRS 64,223 64,223
DECKERS OUTDOOR CORP 59 SHRS 6,117 6,117
DEXCOM INC 769 SHRS 51,039 51,039
DIAGEO PLC NEW GB SPON ADR 58 SHRS 5,004 5,004
DIAMONDBACK ENERGY INC 343 SHRS 51,563 51,563
DINO POLSKA S A ADR 748 SHRS 8,692 8,692
DONALDSON CO INC 431 SHRS 38,212 38,212
DONNELLEY FINL SOLUTIONS INC 48 SHRS 2,241 2,241
DORMAN PRODUCTS INC 187 SHRS 23,037 23,037
EAGLE MATERIALS INC 74 SHRS 15,294 15,294
EAST WEST BANCORP INC 820 SHRS 92,160 92,160
EMBRAER S A SPON ADR 1233 SHRS 79,368 79,368
EMCOR GROUP INC 178 SHRS 108,899 108,899
ENCOMPASS HEALTH CORP 436 SHRS 46,277 46,277
ENTEGRIS INC 490 SHRS 41,283 41,283
EPAM SYSTEMS INC 317 SHRS 64,947 64,947
EQUIFAX INC 405 SHRS 87,877 87,877
EQUITY RESIDENTIAL SBI 456 SHRS 28,746 28,746
ESCO TECHNOLOGIES INC 40 SHRS 7,816 7,816
ESSILORLUXOTTICA ADR 249 SHRS 39,447 39,447
EVERCORE INC CL A 57 SHRS 19,394 19,394
EVERTEC INC 247 SHRS 7,185 7,185
EXELIXIS INC 1469 SHRS 64,386 64,386
EXLSERVICE HOLDINGS INC 454 SHRS 19,268 19,268
EXPONENT INC 705 SHRS 48,969 48,969
FANUC CORP ADR 1332 SHRS 25,934 25,934
FEDERATED HERMES INC CL B 581 SHRS 30,253 30,253
FERRARI N V EUR 47 SHRS 17,369 17,369
FIRST COMWLTH FINCL CORP PENN 424 SHRS 7,149 7,149
FIRST FINCL BANCORP OHIO MONROE 382 SHRS 9,558 9,558
FIRST FINCL BANKSHARES INC 180 SHRS 5,377 5,377
FNB CORP PA 659 SHRS 11,269 11,269
FOMENTO ECONOMICO MEXICANO S.A.B. DE CV SPON ADR 191 SHRS 19,304 19,304
FORTINET INC 218 SHRS 17,311 17,311
FRANCO NEV CORP CAD 35 SHRS 7,255 7,255
FRONTDOOR INC 510 SHRS 29,422 29,422
FUCHS SE ADR 633 SHRS 7,118 7,118
FULTON FINCL CORP PA 892 SHRS 17,242 17,242
GALDERMA GROUP AG SPON ADR 1904 SHRS 78,921 78,921
GARRETT MOTION INC 1403 SHRS 24,454 24,454
GENPACT LTD 654 SHRS 30,594 30,594
GLOBANT S A 40 SHRS 2,615 2,615
GRIFFON CORP 208 SHRS 15,319 15,319
GRUPO FINANCIERO BANORTE SPON ADR 281 SHRS 13,044 13,044
H & R BLOCK INC 902 SHRS 39,309 39,309
HALEON PLC SPON ADR 1301 SHRS 13,153 13,153
HAMILTON LANE INC CL A 403 SHRS 54,127 54,127
HANCOCK WHITNEY CORP 455 SHRS 28,974 28,974
HANOVER INSURANCE GROUP INC (THE) 204 SHRS 37,285 37,285
HASBRO INC 204 SHRS 16,728 16,728
HAWKINS INC 57 SHRS 8,097 8,097
HDFC BANK LTD SPON ADR 1341 SHRS 49,000 49,000
HEINEKEN NV SPON ADR 262 SHRS 10,690 10,690
HENKEL AG & CO KGAA SPON ADR 534 SHRS 10,215 10,215
HENRY JACK & ASSOC INC 529 SHRS 96,532 96,532
HERMES INTL SCA ADR 269 SHRS 66,712 66,712
HF SINCLAIR CORP 526 SHRS 24,238 24,238
HONGKONG LAND HLDGS LTD ADR 476 SHRS 16,593 16,593
HOULIHAN LOKEY INC 471 SHRS 110,262 110,262
HOWMET AEROSPACE INC 453 SHRS 92,874 92,874
HUB GROUP INC CL A 235 SHRS 11,036 11,036
HUNT J B TRANS SVCS INC 51 SHRS 9,911 9,911
ICICI BANK LTD SPON ADR 1169 SHRS 34,836 34,836
IMPERIAL OIL LTD NEW CANADA CAD 433 SHRS 37,372 37,372
INDIVIOR PLC ***US LINE*** 706 SHRS 25,331 25,331
INDUSTRIA DE DISENO TEXTIL IND ADR 3768 SHRS 62,172 62,172
INSTALLED BLDG PRODUCTS 30 SHRS 7,782 7,782
INTEGER HLDGS CORP COM 34 SHRS 2,667 2,667
INTER & CO INC COM CL A 703 SHRS 5,961 5,961
INTERACTIVE BROKERS GROUP INC CL A 2662 SHRS 171,193 171,193
INTERDIGITAL INC (PA) 61 SHRS 19,421 19,421
INTERFACE INC 420 SHRS 11,726 11,726
IQVIA HLDGS INC 344 SHRS 77,541 77,541
ITAU UNIBANCO HLDG SA ADR 1155 SHRS 8,270 8,270
ITT INC COM 450 SHRS 78,080 78,080
JABIL INC 55 SHRS 12,541 12,541
JARDINE MATHESON HD-UNSP ADR 279 SHRS 19,070 19,070
JAZZ PHARMACEUTICALS PLC 347 SHRS 58,990 58,990
JD COM INC CL A SPON ADR 274 SHRS 7,864 7,864
JOHNSON CTLS INTL PLC 654 SHRS 78,317 78,317
KONTOOR BRANDS INC 222 SHRS 13,562 13,562
LAKELAND FINCL CORP 82 SHRS 4,679 4,679
LA-Z-BOY INC 182 SHRS 6,783 6,783
LEGRAND S A UNSPONSORED ADR 319 SHRS 9,458 9,458
LENNOX INTL INC 176 SHRS 85,462 85,462
LIVERAMP HOLDINGS INC 387 SHRS 11,366 11,366
LLOYDS BANKING GROUP PLC SPON ADR 2873 SHRS 15,227 15,227
LOREAL CO ADR FRANCE ADR 609 SHRS 52,161 52,161
LPL FINL HLDGS INC COM 553 SHRS 197,515 197,515
LVMH MOET HENNESSY LOUIS ADR 163 SHRS 24,582 24,582
MAGNUM ICE CREAM CO EUR 298 SHRS 4,723 4,723
MAKEMYTRIP LIMITED, MAURITIU SHS 197 SHRS 16,178 16,178
MANHATTAN ASSOC INC 305 SHRS 52,860 52,860
MARTIN MARIETTA MATERIALS INC 132 SHRS 82,191 82,191
MASIMO CORP 493 SHRS 64,120 64,120
MATCH GROUP INC 1480 SHRS 47,789 47,789
MATTEL INC 658 SHRS 13,055 13,055
MEDPACE HOLDINGS INC 15 SHRS 8,425 8,425
MERCK KGAA SPON ADR 785 SHRS 22,514 22,514
MERIT MEDICAL SYSTEM INC 275 SHRS 24,239 24,239
MICROCHIP TECHNOLOGY INC 604 SHRS 38,487 38,487
MITSUBISHI ELEC CORP ADR JAPAN ADR 365 SHRS 21,170 21,170
MONARCH CASINO & RESORT INC 63 SHRS 6,029 6,029
MS&AD INS GROUP HLDGS ADR 961 SHRS 22,516 22,516
MSC INDL DIRECT CO INC 266 SHRS 22,371 22,371
MUELLER INDS INC 66 SHRS 7,577 7,577
MUELLER WATER PRODUCTS INC SER A 1067 SHRS 25,416 25,416
MURPHY USA INC 67 SHRS 27,036 27,036
NBT BANCORP INC 96 SHRS 3,986 3,986
NESTLE S A SPONSORED ADR REPSTG REG SHS SWITZ ADR 181 SHRS 17,879 17,879
NEWMONT CORP 187 SHRS 18,672 18,672
NEXSTAR MEDIA GROUP INC 181 SHRS 36,752 36,752
NIHON KOHDEN CORP UNSPONSORED ADR 757 SHRS 7,994 7,994
NINTENDO LTD ADR NEW JAPAN ADR 3696 SHRS 62,315 62,315
NORDSON CORP 429 SHRS 103,144 103,144
NU HLDGS LTD CL A 4333 SHRS 72,534 72,534
NUTRIEN LTD CAD 242 SHRS 14,936 14,936
NVENT ELEC PLC 702 SHRS 71,583 71,583
OLLIE'S BARGAIN OUTLET HOLDI 663 SHRS 72,671 72,671
ON HLDG AG CL A CHF 277 SHRS 12,875 12,875
OPTION CARE HEALTH INC 1450 SHRS 46,197 46,197
ORKLA ASA A SHS SPON ADR 952 SHRS 10,681 10,681
PEDIATRIX MEDICAL GROUP INC 254 SHRS 5,433 5,433
PERNOD RICARD SA SPON ADR 260 SHRS 4,459 4,459
PHILIP MORRIS INTL INC 63 SHRS 10,105 10,105
PING AN INSURANCE (GROUP) CO OF CHINA LTD REPSTG 20 H SHS SPON 1178 SHRS 19,767 19,767
PKO BANK POLSKI SA ADR 719 SHRS 17,105 17,105
PLEXUS CORP 93 SHRS 13,671 13,671
POOL CORP 325 SHRS 74,344 74,344
POWER CORP CANADA LTD CANADA ORD CAD 366 SHRS 19,486 19,486
PRIMERICA INC 58 SHRS 14,985 14,985
PRIMORIS SERVICES CORP 498 SHRS 61,822 61,822
PROGRESS SOFTWARE CORP 120 SHRS 5,155 5,155
PROSUS N V SPON ADR 3231 SHRS 39,935 39,935
PT BK CENT ASIA TBK ADR 981 SHRS 11,743 11,743
RALPH LAUREN CORP CL A 354 SHRS 125,178 125,178
RECKITT BENCKISER PLC SPON ADR 1249 SHRS 20,259 20,259
REV GROUP INC 400 SHRS 24,324 24,324
RHEINMETALL AG ADR 241 SHRS 88,086 88,086
ROLLINS INC 2027 SHRS 121,661 121,661
RPM INTL INC (DELA) 400 SHRS 41,600 41,600
RYDER SYSTEM INC 146 SHRS 27,943 27,943
SAFRAN SA ADR 1259 SHRS 109,596 109,596
SAIA INC 254 SHRS 82,936 82,936
SANMINA CORPORATION COM 154 SHRS 23,111 23,111
SAP SE SPON ADR 203 SHRS 49,311 49,311
SCIENCE APPLICATIONS INTE 240 SHRS 24,158 24,158
SEA LTD ADR 139 SHRS 17,732 17,732
SECOM LTD ADR JAPAN ADR 2269 SHRS 20,081 20,081
SERVICE CORP INTL 1038 SHRS 80,933 80,933
SERVICETITAN INC CL A 843 SHRS 89,780 89,780
SGS SA ADR UNSPONSORED 740 SHRS 8,429 8,429
SHARKNINJA INC 683 SHRS 76,428 76,428
SHELL PLC SPON ADR 446 SHRS 32,772 32,772
SHIMANO INC UNSPONSORED ADR 1541 SHRS 16,103 16,103
SHOPIFY INC CL A 727 SHRS 117,025 117,025
SIEMENS ENERGY AG ADR 501 SHRS 70,215 70,215
SIMPLY GOOD FOODS CO 354 SHRS 7,108 7,108
SITEONE LANDSCAPE SUPPLY INC 473 SHRS 58,917 58,917
SKYWEST INC 246 SHRS 24,701 24,701
SMC CORP SPON ADR 1180 SHRS 20,361 20,361
SODEXO AMERN DEPO SHS SPON ADR 288 SHRS 2,964 2,964
SOFTBANK GROUP CORP ADR 556 SHRS 31,525 31,525
SOMPO HOLDINGS INC UNSPON ADR 911 SHRS 15,405 15,405
SONOCO PRODUCTS CO 193 SHRS 8,422 8,422
SPOTIFY TECHNOLOGY SA EUR 89 SHRS 51,683 51,683
SPROUTS FARMERS MARKETS INC 39 SHRS 3,107 3,107
STERLING INFRASTRUCTURE INC 139 SHRS 42,566 42,566
STIFEL FINANCIAL CORP 122 SHRS 15,277 15,277
SUZUKI MOTOR CORP LTD ADR 151 SHRS 8,929 8,929
SVENSKA HANDELBANKEN AB ADR 843 SHRS 6,103 6,103
TAIWAN SEMICONDUCTOR MFG CO LTD ADR 1207 SHRS 366,795 366,795
TAKE-TWO INTERACTIVE SOFTWRE 344 SHRS 88,074 88,074
TAYLOR MORRISON HOME CORP CL A 491 SHRS 28,905 28,905
TEEKAY TANKERS LTD CL A 69 SHRS 3,686 3,686
TELEDYNE TECHNOLOGIES INC 208 SHRS 106,232 106,232
TENCENT HLDGS LTD ADR 2069 SHRS 158,381 158,381
TENNANT CO 45 SHRS 3,316 3,316
THE COOPER COMPANIES INC 1264 SHRS 103,597 103,597
THOR INDUSTRIES INC 920 SHRS 94,456 94,456
TOPBUILD CORP 25 SHRS 10,430 10,430
TRADEWEB MARKETS INC CL A 361 SHRS 38,822 38,822
TRIMBLE INC COM 1005 SHRS 78,742 78,742
TRIP COM GROUP LTD SPON ADR 261 SHRS 18,768 18,768
TYLER TECHNOLOGIES INC 101 SHRS 45,849 45,849
UCB SA ADR 308 SHRS 43,046 43,046
UL SOLUTIONS INC CL A 1384 SHRS 109,142 109,142
UNILEVER PLC SPON ADR 274 SHRS 17,919 17,919
UNITED THERAPEUTICS CORP 60 SHRS 29,235 29,235
UNIVERSAL DISPLAY CORP 768 SHRS 89,687 89,687
UOL GROUP LTD SPON ADR 223 SHRS 6,072 6,072
US FOODS HLDG CORP 1034 SHRS 77,881 77,881
VICTORY CAPITAL HOLDINGS INC CL A 71 SHRS 4,479 4,479
VIKING HLDGS LTD 656 SHRS 46,845 46,845
VISTRA CORP 261 SHRS 42,107 42,107
VONTIER CORP COM 794 SHRS 29,521 29,521
WAL MART DE MEXICO SAB DE CV CL V SPON ADR 504 SHRS 15,710 15,710
WATSCO INC 237 SHRS 79,857 79,857
WEATHERFORD INTL PLC 409 SHRS 32,008 32,008
WEG SA BRAZIL SPON ADR 1745 SHRS 15,775 15,775
WHEATON PRECIOUS METALS CORP 166 SHRS 19,508 19,508
WILLIS TOWERS WATSON PUB LTD CO 51 SHRS 16,759 16,759
WINTRUST FINANCIAL CORP 137 SHRS 19,155 19,155
XIAOMI CORP ADR 754 SHRS 18,993 18,993
YUM! BRANDS INC 318 SHRS 48,107 48,107
ZEBRA TECHNOLOGIES CORP CL A 304 SHRS 73,817 73,817
ZIFF DAVIS INC 179 SHRS 6,292 6,292
ZIONS BANCORP NA 482 SHRS 28,216 28,216
ZSCALER INC 234 SHRS 52,631 52,631
ZURN ELKAY WATER SOLUTION CORP 2775 SHRS 129,010 129,010

TY 2025 InvestmentsOtherSchedule2
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
CLEARBRIDGE SMASH SERIES EM FUND CLASS NL 47982.05 SHRS FMV 628,085 628,085
ISHARES CORE MSCI EAFE ETF 27571 SHRS FMV 2,466,502 2,466,502
ISHARES CORE S&P SMALL-CAP ETF 12160 SHRS FMV 1,461,389 1,461,389
SPDR GOLD SHARES ETF 236 SHRS FMV 93,529 93,529
STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF 195 SHRS FMV 17,819 17,819
VANGUARD FTSE EMERGING MARKETS ETF 27050 SHRS FMV 1,454,208 1,454,208
VANGUARD S&P 500 ETF 34234 SHRS FMV 21,469,168 21,469,168

TY 2025 LegalFeesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL SERVICES 19,520 0   19,520


TY 2025 OtherExpensesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADR FEES 4,006 4,006   0
BANK FEES 25 0   25


TY 2025 OtherIncreasesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Description Amount
UNREALIZED GAIN ON INVESTMENTS 3,994,185


TY 2025 OtherProfessionalFeesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
UBS INVESTMENT MANAGEMENT FEES 264,801 264,801   0


TY 2025 TaxesSchedule
Name:
THE FOURTEN FOUNDATION
 
C/O PKF O'CONNOR DAVIES ADVISORY LLC
EIN:
86-3735206
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES PAID 9,093 9,093   0
EXCISE TAX PAID 6,000 0   0