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
JOE AND ARLENE WATT FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 6085
  Room/suite
City or town
SHERIDAN
State or province
WY
Country  
ZIP or foreign postal code
82801
A Employer identification number

83-0330482
B Telephone number (see instructions)

3076721498
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)$32,695,495J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 845,188 845,188  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,548,115
b Gross sales price for all assets on line 6a 7,378,231
7 Capital gain net income (from Part IV, line 2)... 1,548,115
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)....... Click to see attachment
List of Attached Documents:
// Content
19,273 19,273  
12 Total. Add lines 1 through 11........ 2,412,576 2,412,576  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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
18,261 18,261    
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,700 2,000   700
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
153,566 148,960   4,606
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
33,121 13   12
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
382 191   191
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 208,030 169,425   5,509
25 Contributions, gifts, grants paid....... 1,409,671 1,409,671
26 Total expenses and disbursements. Add lines 24 and 25 ................ 1,617,701 169,425   1,415,180
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 794,875
b Net investment income (if negative, enter -0-) 2,243,151
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......... 688,684 1,160,938 1,160,938
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) 395,914 Click to see attachment
List of Attached Documents:
// Content
1,276,592 		1,282,929
b Investments—corporate stock (attach schedule)....... 14,280,089 Click to see attachment
List of Attached Documents:
// Content
14,376,697 		21,946,265
c Investments—corporate bonds (attach schedule)....... 4,698,937 Click to see attachment
List of Attached Documents:
// Content
4,862,596 		4,844,433
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,617,594 Click to see attachment
List of Attached Documents:
// Content
2,796,833 		3,456,025
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
15 Other assets (describe ) Click to see attachment
List of Attached Documents:
// Content
2,468 		Click to see attachment
List of Attached Documents:
// Content
4,905 		Click to see attachment
List of Attached Documents:
// Content
4,905
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 23,683,686 24,478,561 32,695,495
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
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 23,683,686 24,478,561
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)..... 23,683,686 24,478,561
30 Total liabilities and net assets/fund balances (see instructions). 23,683,686 24,478,561
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
23,683,686
2
Enter amount from Part I, line 27a .....................
2
794,875
3
Other increases not included in line 2 (itemize)
3
 
4
Add lines 1, 2, and 3 ..........................
4
24,478,561
5
Decreases not included in line 2 (itemize)
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
24,478,561
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 FIDELITY EMERGING MARKETS INDEX FUND P 2024-05-21 2025-01-21
b CITIGROUP INC P 2021-03-19 2025-01-21
c STATE STREET SPDR S&P SEMICONDUCTOR P 2022-03-04 2025-01-21
d INTERCONTINENTAL EXCHANGE INC P 2020-07-24 2025-03-21
e ISHARES CURRENCY HEDGED MSCI EAFE ET P 2024-05-20 2025-06-11
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-08-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-11-25
FIDELITY REAL ESTATE INCOME FUND P 2024-06-07 2025-01-21
DFA GLOBAL REAL ESTATE SECURITIES PO P 2019-08-22 2025-01-21
STATE STREET SPDR S&P SEMICONDUCTOR P 2023-03-17 2025-01-21
QUALCOMM INC P 2021-02-08 2025-03-21
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-06-20
PEPSICO INC P 2010-12-17 2025-08-26
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-11-25
GLOBAL X US INFRASTRUCTURE DEVELOPME P 2024-05-20 2025-01-21
DFA GLOBAL REAL ESTATE SECURITIES PO P 2020-04-28 2025-01-21
MATERIALS SELECT SECTOR SPDR FUND P 2023-08-09 2025-01-21
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-03-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-06-25
PEPSICO INC P 2016-10-14 2025-08-26
SOLSTICE ADVANCED MATERIALS INC P 2020-07-24 2025-11-26
STATE STREET SPDR S&P REGIONAL BANKI P 2024-10-18 2025-01-21
DFA GLOBAL REAL ESTATE SECURITIES PO P 2020-11-12 2025-01-21
UNION PACIFIC CORP P 2013-12-10 2025-01-21
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-03-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-06-25
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-09-22
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-12-22
STATE STREET ENERGY SELECT SECTOR SP P 2024-08-20 2025-01-21
EMERSON ELECTRIC CO P 2013-04-10 2025-01-21
UNITEDHEALTH GROUP INC P 2013-12-10 2025-01-21
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-03-25
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-06-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-09-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-12-26
ISHARES IBONDS DEC 2033 TERM CORPORA P 2024-05-20 2025-04-09
EMERSON ELECTRIC CO P 2017-02-23 2025-01-21
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-01-27
GMO RESOURCES FUND P 2023-04-05 2025-04-07
JPMORGAN CHASE & CO P 2017-02-23 2025-06-26
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-09-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-12-26
ISHARES IBONDS DEC 2032 TERM CORPORA P 2024-05-20 2025-04-09
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-01-21
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-01-27
VANGUARD INTERMEDIATE-TERM CORPORATE P 2021-01-04 2025-04-15
LOWE'S COS INC P 2017-06-29 2025-07-18
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-09-25
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-12-26
INVESCO S&P 500 EQUAL WEIGHT ETF P 2025-01-21 2025-06-02
ISHARES CORE S&P 500 ETF P 2020-03-16 2025-01-21
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-01-27
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-04-21
MASCO CORP P 2021-03-24 2025-07-18
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-10-20
LITIGATION PROCEEDS P    
ISHARES CORE S&P 500 ETF P 2025-04-09 2025-06-02
ISHARES CORE S&P 500 ETF P 2020-04-28 2025-01-21
SKYWORKS SOLUTIONS INC P 2013-08-23 2025-01-29
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-04-25
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-07-21
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-10-27
SOLSTICE ADVANCED MATERIALS INC P 2024-11-29 2025-11-06
ISHARES CORE S&P 500 ETF P 2020-11-03 2025-01-21
FEDEX CORP P 2017-02-23 2025-02-20
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-04-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-07-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-10-27
VANGUARD SHORT-TERM INFLATION-PROTEC P 2025-01-21 2025-11-12
ISHARES CORE S&P 500 ETF P 2020-11-12 2025-01-21
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-02-20
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-04-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-07-25
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-10-27
SOLSTICE ADVANCED MATERIALS INC P 2024-11-29 2025-11-26
ISHARES BIOTECHNOLOGY ETF P 2022-02-04 2025-01-21
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-02-25
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-05-20
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-07-25
BRISTOL-MYERS SQUIBB CO P 2013-02-05 2025-11-10
DFA EMERGING MARKETS SMALL CAP PORTF P 2019-08-21 2025-01-08
JPMORGAN CHASE & CO P 2017-02-23 2025-01-21
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-02-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-05-27
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-08-20
ISHARES IBONDS DEC 2032 TERM CORPORA P 2024-05-20 2025-11-12
DFA EMERGING MARKETS SMALL CAP PORTF P 2023-01-30 2025-01-08
LOWE'S COS INC P 2017-06-29 2025-01-21
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-02-25
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-05-27
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-08-25
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-11-20
BERKSHIRE HATHAWAY INC P 2010-03-31 2025-01-21
NORTHERN MULTI-MANAGER GLOBAL LISTED P 2023-04-25 2025-01-21
GOVERNMENT NATIONAL MORTGAGE ASSOCIA P 2011-06-23 2025-03-20
RBSGC MORTGAGE LOAN TRUST 2007-B RBS P 2008-02-15 2025-05-27
FANNIE MAE POOL FN AB4090 3% 01 DEC P 2014-07-25 2025-08-25
FANNIE MAE REMICS FNR 2015-96 EA 3% P 2015-12-11 2025-11-25
(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 172,736   176,155 -3,419
b 45,378   41,418 3,960
c 47,781   34,635 13,146
d 131,330   72,774 58,556
e 470,739   445,134 25,605
3   3  
363   375 -12
201,401   195,175 6,226
93,532   110,298 -16,766
29,096   21,700 7,396
88,354   83,859 4,495
7   7  
2,492   1,122 1,370
3   3  
173,522   157,439 16,083
43,282   38,752 4,530
64,625   60,420 4,205
946   970 -24
954   978 -24
83,544   60,739 22,805
5,586   4,288 1,298
62,013   58,370 3,643
61,814   63,072 -1,258
58,184   20,132 38,052
370   382 -12
369   381 -12
7   7  
7   7  
79,924   77,538 2,386
22,468   10,174 12,294
66,822   9,635 57,187
3   3  
3   3  
962   987 -25
971   995 -24
247,805   252,627 -4,822
37,868   18,223 19,645
940   964 -24
285,251   471,344 -186,093
28,557   9,007 19,550
306   316 -10
321   332 -11
247,754   251,692 -3,938
6   7 -1
588   607 -19
27,285   32,908 -5,623
101,810   35,884 65,926
3   3  
3   3  
375,962   388,690 -12,728
678,648   281,068 397,580
3   3  
6   7 -1
87,666   76,786 10,880
7   7  
78,796     78,796
593,311   500,008 93,303
495,865   239,627 256,238
60,869   17,102 43,767
948   972 -24
7   7  
965   990 -25
12   14 -2
266,633   149,364 117,269
50,633   36,580 14,053
405   418 -13
957   981 -24
289   298 -9
151,751   147,460 4,291
252,759   148,439 104,320
6   7 -1
3   3  
369   381 -12
3   3  
4,872   5,769 -897
41,949   40,864 1,085
943   967 -24
6   7 -1
3   3  
93,609   73,507 20,102
386,837   323,625 63,212
61,673   21,562 40,111
397   410 -13
951   975 -24
7   7  
429,213   412,597 16,616
31,711   29,437 2,274
71,401   20,823 50,578
3   3  
410   423 -13
960   984 -24
7   7  
73,444   12,695 60,749
71,971   73,053 -1,082
6   7 -1
3   3  
322   333 -11
968   993 -25
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       -3,419
b       3,960
c       13,146
d       58,556
e       25,605
       
      -12
      6,226
      -16,766
      7,396
      4,495
       
      1,370
       
      16,083
      4,530
      4,205
      -24
      -24
      22,805
      1,298
      3,643
      -1,258
      38,052
      -12
      -12
       
       
      2,386
      12,294
      57,187
       
       
      -25
      -24
      -4,822
      19,645
      -24
      -186,093
      19,550
      -10
      -11
      -3,938
      -1
      -19
      -5,623
      65,926
       
       
      -12,728
      397,580
       
      -1
      10,880
       
      78,796
      93,303
      256,238
      43,767
      -24
       
      -25
      -2
      117,269
      14,053
      -13
      -24
      -9
      4,291
      104,320
      -1
       
      -12
       
      -897
      1,085
      -24
      -1
       
      20,102
      63,212
      40,111
      -13
      -24
       
      16,616
      2,274
      50,578
       
      -13
      -24
       
      60,749
      -1,082
      -1
       
      -11
      -25
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 1,548,115
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 3 100,126
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 31,180
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  
3 Add lines 1 and 2........................... 3 31,180
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 31,180
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 31,900
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 31,900
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 22
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 698
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax698 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. $   (2) On foundation managers.$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
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)
WY
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofFIRST INTERSTATE BANK FSG Telephone no. (307) 672-1498

Located at16 S MAIN STSHERIDANWY ZIP+482801
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
 
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
JOHN M PRADERE DIRECTOR
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
ROBERT EBERHART DIRECTOR
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
RICHARD D HAMMER PRESIDENT
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
DEBRA WENDTLAND VICE PRESIDE
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
JOY HART BROWN DIRECTOR
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
PETER PELISSIER SECRETARY
2.00 		0 0 0
PO BOX 6085
SHERIDAN,WY82801
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...................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
29,986,774
b
Average of monthly cash balances.......................
1b
1,286,137
c
Fair market value of all other assets (see instructions)................
1c
178,284
d
Total (add lines 1a, 1b, and 1c).......................
1d
31,451,195
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
31,451,195
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
471,768
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
30,979,427
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
1,548,971
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
1,548,971
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
31,180
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
31,180
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,517,791
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
1,517,791
6
Deduction from distributable amount (see instructions) .................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,517,791
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
1,415,180
b
Program-related investments—total from Part VIII-B..................
1b
 
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
1,415,180
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 1,517,791
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only....... 1,407,231
b Total for prior years:20 , 20, 20  
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 ........  
4Qualifying distributions for 2025 from Part
XI, line 4: $ 1,415,180
a Applied to 2024, but not more than line 2a 1,407,231
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		 
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		 
d Applied to 2025 distributable amount..... 7,949
e Remaining amount distributed out of corpus  
5 Excess distributions carryover applied to 2025.    
(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  
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		1,509,842
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) ....... 		 
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 ....  
e Excess from 2025 ....  
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
JOE AND ARLENE WATT FOUNDATION
PO BOX 6085
SHERIDAN,WY82801
(307) 672-1498
bThe form in which applications should be submitted and information and materials they should include:
THE APPLICATION SHOULD BE IN WRITTEN FORM AND INCLUDE: 1. NAME, ADDRESS AND TAX ID NUMBER OF THE CHARITY, 2. DOCUMENTARY PROOF OF THE TAX EXEMPT STATUS OF THE CHARITY UNDER SECTION 501(C)(3) OF THE IRC OF 1954, OR AS AMENDED. 3. COPY OF THE MOST RECENT ANNUAL REPORT OF THE CHARITY IN THE FORM REQUIRED OF IT BY APPLICABLE SECTION OF THE INTERNAL REVENUE CODE. 4. DESCRIPTION OF THE CHARITABLE PURPOSE, OR PURPOSES, TO WHICH THE FUNDS FOR WHICH APPLICATION IS BEING MADE SHALL BE PUT.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year
ADVOCACY RESOURCE CENTER


136 COFFEEN AVE
SHERIDAN,WY82801 		    LSH FUNDRAISER 10,000
BIG BROTHERS BIG SISTERS


1056 LONG DRIVE
SHERIDAN,WY82801 		    UNRESTRICTED 20,000
BLACK MOUNTAIN NORDIC


PO BOX 593
SHERIDAN,WY82801 		    UNRESTRICTED 15,000
CHAPS


501 US-14
SHERIDAN,WY82801 		    UNRESTRICTED 40,000
HABITAT FOR HUMANITY OF THE EASTERN


PO BOX 6196
SHERIDAN,WY82801 		    WESTON VILLAGE DEVELOPMENT 33,333
SALVATION ARMY


956 COFFEEN AVE
SHERIDAN,WY82801 		    UNRESTRICTED 50,000
SENIOR CITIZENS COUNCIL


211 SMITH STREET
SHERIDAN,WY82801 		    UNRESTRICTED 250,000
SHERIDAN CNTY HOSPITAL FOUNDATION


PO BOX 391
SHERIDAN,WY82801 		    EMPATH AND CRISIS STABILIZATION UNIT 200,000
SHERIDAN COLLEGE FOUNDATION


PO BOX 6328
SHERIDAN,WY82801 		    HOUSING SCHOLARSHIP CAMPAIGN 200,000
SHERIDAN COUNTY LAND TRUST


14 LANE LN
SHERIDAN,WY82801 		    UNRESTRICTED 33,838
SHERIDAN HIGH SCHOOL BOOSTER CLUB


1056 LONG DR
SHERIDAN,WY82801 		    WE THE PEOPLE SUPPORT 2,500
UNIVERSITY OF WYOMING FOUNDATION


222 S 22ND ST
LARAMIE,WY82070 		    IMAGINE PROJECT 200,000
THE FOOD GROUP


1141 CROOK STREET
SHERIDAN,WY82801 		    DFAC FUNDRAISER 15,000
TONGUE RIVER CHILDS PLACE


84 DAYTON STREET
RANCHESTER,WY82839 		    SUPPORT OPERATIONS 10,000
MUSEUM AT THE BIGHORNS


171 NORTH MAIN STREET
SHERIDAN,WY82801 		    UNRESTRICTED 25,000
JOHNSON COUNTY FAMILY YMCA


101 KLONDIKE DRIVE
BUFFALO,WY82834 		    UNRESTRICTED 15,000
HOLY NAME CATHOLIC SCHOOL


121 S CONNOR STREET
SHERIDAN,WY82801 		    UNRESTRICTED 40,000
THE BIG HORN BASEBALL CLUB


2 CARDIFF COURT
SHERIDAN,WY82801 		    UNRESTRICTED 200,000
SHERIDAN COUNTY LIBRARY FOUNDATION


335 WEST ALGER STREET
SHERIDAN,WY82801 		    UNRESTRICTED 50,000
Total ................................. 3a 1,409,671
bApproved for future payment
Total ................................. 3b  
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 845,188  
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 .....     15 19,273  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,548,115  
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) ..   2,412,576  
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,412,576
(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:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MOHATT, JOHNSON & GODWIN 2,700 2,000   700

TY 2025 InvestmentsCorpBondsSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Name of Bond End of Year Book Value End of Year Fair Market Value
CLOROX CO/THE 3.1% 285,559 281,268
DOUBLELINE TOTAL RETURN BOND FUND 1,036,922 1,059,388
FANNIE MAE POOL FN AB4090 2,554 2,459
FANNIE MAE REMICS FNR 2015-96 10,477 10,152
GOVERNMENT NATIONAL MORTGAGE GNR 201 191 182
INTERNATIONAL BUSINESS MACHINES GROU 141,252 147,200
ISHARES IBONDS DEC 2032 TERM    
ISHARES IBONDS DEC 2033 TERM 411,660 427,703
ISHARES PREFERRED AND INCOME SECURIT 681,252 671,491
RBSGC MTG LOAN TRUST 2007-B 484 502
RTX CORP 7.5% 173,887 166,849
VANGUARD INTERMEDIATE-TERM CORPORATE 624,212 539,434
VANGUARD MORTGAGE-BACKED SECURITIES 531,892 555,120
VANGUARD HIGH-YIELD CORPORATE FUND 292,070 303,513
WASTE MANAGEMENT INC 167,162 160,828
ARTISAN HIGH INCOME FUND 503,022 518,344

TY 2025 InvestmentsCorpStockSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 151,519 181,420
ALPHABET INC CAP STK CL A 24,815 478,577
AMAZON.COM INC 189,414 470,411
AMERICAN EXPRESS CO 40,504 251,566
APPLE INC 39,746 450,744
BERKSHIRE HATHAWAY INC CL B 121,437 308,124
BLACKSTONE INC 113,294 207,475
BRISTOL-MYERS SQUIBB CO    
CISCO SYSTEMS INC 118,936 319,520
CITIGROUP INC 89,238 142,128
COMMUNICATIONS SERVICES SELECT SECTO    
CONSUMER DISCRETIONARY SELECT SECTOR 44,150 72,601
CONSUMER STAPLES SELECT SECTOR SPDR 108,440 134,619
COSTCO WHOLESALE CORP 62,202 157,808
DFA EMERGING MARKETS SMALL CAP    
EMERSON ELECTRIC CO 33,780 85,604
ENERGY SELECT SECTOR SPDR FUND    
FEDEX CORP    
FIDELITY EMERGING MARKETS INDEX FUND 849,946 1,178,654
FIDELITY INTERNATIONAL INDEX FUND 1,452,799 1,953,435
FINANCIAL SELECT SECTOR SPDR FUND 178,711 232,170
GOLDMAN SACHS EMERGING MARKETS 1,289,620 1,750,865
HEALTH CARE SELECT SECTOR SPDR FUND    
HONEYWELL INTERNATIONAL INC 160,930 177,337
INDUSTRIAL SELECT SECTOR SPDR FUND    
INTERCONTINENTAL EXCHANGE INC    
INVESCO S&P 500 EQUAL WEIGHT 2,257,144 2,498,709
ISHARES BIOTECHNOLOGY ETF 131,051 169,951
ISHARES CORE S&P 500 ETF    
ISHARES CORE S&P MID-CAP ETF 1,188,661 1,737,846
ISHARES CORE S&P SMALL-CAP ETF 1,438,747 1,530,853
ISHARES CURRENCY HEDGED MSCI 564,567 767,352
ISHARES SEMICONDUCTOR ETF 183,432 236,102
ISHARES U.S. MEDICAL DEVICES ETF 93,648 94,530
JP MORGAN CHASE & CO 45,762 162,077
KKR & CO INC 112,667 109,378
LOWE'S COS INC 43,755 137,461
MASCO CORP    
MATERIALS SELECT SECTOR SPDR FUND 119,483 167,704
MCDONALD'S CORP 176,255 230,445
META PLATFORMS INC 129,590 145,220
MICROSOFT CORP 93,951 517,473
MONDELEZ INTERNATIONAL INC 116,356 124,293
NVIDIA CORP 88,270 140,994
PALO ALTO NETWORKS INC 122,357 339,112
PEPSICO INC    
PFIZER INC 131,263 126,691
QUALCOMM INC    
REAL ESTATE SELECT SECTOR SPDR FUND    
SALESFORCE.COM INC 92,352 107,289
SKYWORKS SOLUTIONS INC    
SPDR S&P REGIONAL BANKING ETF    
SPDR S&P SEMICONDUCTOR ETF    
STATE STREET COMMUNICATION SERVICES 209,645 401,896
STATE STREET ENERGY SELECT SECTOR SP 152,802 348,738
STATE STREET HEALTH CARE SELECT SECT 230,327 391,334
STATE STREET INDUSTRIAL SELECT SECTO 301,507 372,908
STATE STREET REAL ESTATE SELECT SECT 221,508 228,099
STATE STREET SPDR S&P REGIONAL BANKI 142,935 154,896
STATE STREET SPDR S&P SEMICONDUCTOR 140,911 239,270
STATE STREET UTILITIES SELECT SECTOR 219,960 266,898
TECHNOLOGY SELECT SECTOR SPDR FUND 299,170 913,346
UNION PACIFIC CORP 33,823 97,848
UNITED HEALTH GROUP INC 15,743 86,489
UTILITIES SELECT SECTOR SPDR FUND    
WAL-MART STORES INC 72,769 323,423
WALT DISNEY CO 136,805 224,582

TY 2025 InvestmentsGovtObligationsSch
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
US Government Securities - End of Year Book Value:

1,276,592
US Government Securities - End of Year Fair Market Value:

1,282,929
State & Local Government Securities - End of Year Book Value:


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


 


TY 2025 InvestmentsOtherSchedule2
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
MINERAL INTERESTS AT COST 2 178,284
DFA GLOBAL REAL ESTATE SECURITIES AT COST 504,442 585,543
FIDELITY REAL ESTATE INCOME FUND AT COST 551,295 576,483
FLEXSHARES GLOBAL UPSTREAM NATURAL AT COST 648,098 838,276
GLOBAL X US INFRASTRUCTURE DEVELOPME AT COST 517,636 628,821
GMO RESOURCES FUN AT COST    
NORTHERN MULTI-MANAGER GLOBAL LISTED AT COST 575,360 648,618

TY 2025 LegalFeesSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
  18,261 18,261    


TY 2025 OtherAssetsSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ACCRUED DIVIDENDS AND INTEREST 2,468 4,905 4,905


TY 2025 OtherExpensesSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
POST OFFICE BOX 382 191   191


TY 2025 OtherIncomeSchedule2
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OIL & GAS ROYALTIES - GROSS 22,121 22,121  
O&G PRODUCTION TAXES -2,848 -2,848  


TY 2025 OtherProfessionalFeesSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT 153,566 148,960   4,606


TY 2025 TaxesSchedule
Name:
JOE AND ARLENE WATT FOUNDATION INC
EIN:
83-0330482
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SECRETARY OF STATE 25 13   12
EXCISE TAXES 33,096