TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

Do not enter social security numbers on this form as it may be made public.
right arrow

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 10-01-2024 , and ending 09-30-2025

Name of foundation
THE KNOWLES FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)2 PRUDENTIAL PL 180 N STETSON 1400
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60601

A Employer identification number

36-6051968

B Telephone number (see instructions)

(312) 372-4000

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

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

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

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

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

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

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$28,441,020J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)		0
2	Check .............
3	Interest on savings and temporary cash investments		6,653		6,653
4	Dividends and interest from securities...		653,296		653,296
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10			632,919
b	Gross sales price for all assets on line 6a 5,686,146
7	Capital gain net income (from Part IV, line 2)...				632,919
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances	0
b	Less: Cost of goods sold....	0
c	Gross profit or (loss) (attach schedule).....			0
11	Other income (attach schedule).......			0	0	0
12	Total. Add lines 1 through 11........		1,292,868		1,292,868	0
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		List of Attached Documents: // Content	136,984	68,492	0	68,492
b	Accounting fees (attach schedule).......		List of Attached Documents: // Content	21,844	10,922	0	10,922
c	Other professional fees (attach schedule)....		List of Attached Documents: // Content	125,087	125,087	0	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		List of Attached Documents: // Content	13,400	2,775	0	125
19	Depreciation (attach schedule) and depletion...			0	0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......			0	0	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........		297,315		207,276	0	79,539
25	Contributions, gifts, grants paid.......		1,436,000				1,436,000
26	Total expenses and disbursements. Add lines 24 and 25		1,733,315		207,276	0	1,515,539
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements		-440,447
b	Net investment income (if negative, enter -0-)				1,085,592
c	Adjusted net income (if negative, enter -0-)...					0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	371,195	391,077	391,077
	3	Accounts receivable
		Less: allowance for doubtful accounts	0	0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts	0	0	0
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....	0	0	0
	7	Other notes and loans receivable (attach schedule) 0
		Less: allowance for doubtful accounts 0	0	0	0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	0	0	0
	b	Investments—corporate stock (attach schedule).......	12,095,042	List of Attached Documents: // Content 11,797,235	17,698,125
	c	Investments—corporate bonds (attach schedule).......	10,337,936	List of Attached Documents: // Content 10,128,987	9,693,556
	11	Investments—land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0	0		0
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	548,484	List of Attached Documents: // Content 595,656	658,262
	14	Land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0	0		0
	15	Other assets (describe )	0	0	0
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	23,352,657	22,912,955	28,441,020
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons	0	0
	21	Mortgages and other notes payable (attach schedule)......	0	0
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	23,352,657	22,912,955
	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).....	23,352,657	22,912,955
	30	Total liabilities and net assets/fund balances (see instructions).	23,352,657	22,912,955

Part III

Analysis of Changes in Net Assets or Fund Balances

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

23,352,657

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

-440,447

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

745

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

22,912,955

Decreases not included in line 2 (itemize) right arrow

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

22,912,955

Form 990-PF (2024)

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	TOTAL CAPITAL GAIN DISTRIBUTIONS
b	PUBLICLY TRADED SECURITIES
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	99,012		99,012
b	5,587,133	5,053,226	533,907
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		0	99,012
b		0	533,907
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	632,919
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	15,090
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-) List of Attached Documents: // Content	2	0
3	Add lines 1 and 2...........................	3	15,090
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	15,090
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	8,388
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	16,500
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	24,888
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
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	9,798
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax9,798	Refunded	11	0

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. right arrow

$ (2) On foundation managers. right arrow

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

on foundation managers. right arrow

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.

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

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

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

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

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

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

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

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

Yes

Website address right arrow

N/A

The books are in care of right arrow

MICHAEL POWERS Telephone no. right arrow

(312) 456-3416

Located at right arrow

2 PRUDENTIAL PL 180 N STETSONCHICAGOIL ZIP+4 right arrow

60601

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

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

16 At any time during calendar year 2024, 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 right arrow

Form 990-PF (2024)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

Yes

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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 2024? .............

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

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

At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2024 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 Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2024.) .....................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..

Form 990-PF (2024)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
MICHAEL J POWERS	DIR/TREAS/SEC 0.50	0	0
2 PRUDENTIAL PL 180 N STETSON SUITE 1400 CHICAGO,IL60601	DIR/TREAS/SEC 0.50	0	0
DAVID J HILL	DIRECTOR/PRESIDENT 0.50	0	0
1206 HAWTHORNE LANE HINSDALE,IL60521	DIRECTOR/PRESIDENT 0.50	0	0
RONALD LAWLER	DIRECTOR 0.50	0	0
5W455 LEXINGTON ST ELMHURST,IL60126	DIRECTOR 0.50	0	0

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


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










Total number of other employees paid over $50,000...................				0

Form 990-PF (2024)

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
HOWARD & HOWARD ATTORNEYS PLLC	ATTORNEY FEES	136,984
2 PRUDENTIAL PL 180 N STETSON SUITE 1400 CHICAGO,IL60601	ATTORNEY FEES	136,984
BANK OF AMERICA PRIVATE BANK	INVESTMENT MGMT	85,053
110 N WACKER DR CHICAGO,IL60606	INVESTMENT MGMT	85,053

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......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

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

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

purposes:

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

26,913,926

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

745,624

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

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

27,659,550

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

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

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

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

27,659,550

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

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

414,893

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

27,244,657

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

1,362,233

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

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

1,362,233

Tax on investment income for 2024 from Part V, line 5 .......

15,090

Income tax for 2024. (This does not include the tax from Part V.) ...

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

15,090

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

1,347,143

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

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

1,347,143

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

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

1,347,143

Part XI

Qualifying Distributions (see instructions)

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

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

1,515,539

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

1,515,539

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7					1,347,143
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......				0
b Total for prior years:20 , 2021, 2020			0
3 Excess distributions carryover, if any, to 2024:
a From 2019......	86,541
b From 2020......	87,632
c From 2021......	132,416
d From 2022......	0
e From 2023......	236,467
f Total of lines 3a through e ........		543,056
4Qualifying distributions for 2024 from Part
XI, line 4: $ 1,515,539
a Applied to 2023, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2024 distributable amount.....					1,347,143
e Remaining amount distributed out of corpus		168,396
5 Excess distributions carryover applied to 2024.					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		711,452
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2019 not applied on line 5 or line 7 (see instructions) ...		86,541
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		624,911
10 Analysis of line 9:
a Excess from 2020....	87,632
b Excess from 2021....	132,416
c Excess from 2022....	0
d Excess from 2023....	236,467
e Excess from 2024....	168,396

Form 990-PF (2024)

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 2024, enter the date of the ruling ...... right arrow

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2024	(b) 2023	(c) 2022	(d) 2021	(e) Total

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c 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).)

NONE

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.

NONE

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

Check here right arrow

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, b, c, and d. 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 (2024)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ADLER PLANETARIUM 1300 S LAKE SHORE DRIVE CHICAGO,IL60605	N/A	PC	SCHOOL EXPERIENCES PROGRAM	70,000
ALLIANCE FOR THE GREAT LAKES 150 N MICHIGAN AVE SUITE 700 CHICAGO,IL60601	N/A	PC	GENERAL FUND	40,000
CHICAGO ARCHITECTURE CENTER 111 E WACKER DR SUITE 1321 CHICAGO,IL60601	N/A	PC	GENERAL FUND	75,000
ELMHURST MEMORIAL HOSPITAL 155 E BRUSH HILL RD ELMHURST,IL60126	N/A	PC	BREAST HEALTH PROGRAM	75,000
FOUNDATION FOR HEARING AND SPEECH RESEARCH PO BOX 180018 CHICAGO,IL60618	N/A	PC	MUSIC TO MY EARS PROGRAM	32,000
FOUNDATION FOR HEARING AND SPEECH RESEARCH PO BOX 180018 CHICAGO,IL60618	N/A	PC	MUSIC THERAPY PROGRAM	15,000
FOUNDATION FOR HEARING AND SPEECH RESEARCH PO BOX 180018 CHICAGO,IL60618	N/A	PC	GENERAL FUND	28,000
RAY GRAHAM ASSOCIATION 901 WARRENVILLE RD 500 LISLE,IL60532	N/A	PC	HANSON CENTER	78,500
RAY GRAHAM ASSOCIATION 901 WARRENVILLE RD 500 LISLE,IL60532	N/A	PC	ABLE CAMPAIGN	50,000
FRIENDS OF THE CHICAGO RIVER 411 S WELLS ST SUITE 800 CHICAGO,IL60607	N/A	PC	GENERAL FUND	80,000
GIGI'S PLAYHOUSE INC 2350 W HIGGINS ROAD HOFFMAN ESTATES,IL60169	N/A	PC	GENERAL FUND	100,000
GREATER CHICAGO FOOD DEPOSITORY 4100 W ANN LURIE PLACE HOFFMAN ESTATES,IL60632	N/A	PC	GENERAL FUND	60,000
HINSDALE JUNIOR WOMANS CLUB PO BOX 152 HINSDALE,IL60521	N/A	PC	GENERAL FUND	50,000
LINCOLN PARK ZOO 2001 N CLARK ST CHICAGO,IL60614	N/A	PC	GENERAL FUND	30,000
LOYOLA UNIVERSITY MEDICAL CENTER 2160 S 1ST AVE MAYHOOD,IL60153	N/A	PC	NURSING FUND	75,000
LYRIC OPERA OF CHICAGO 20 N WACKER DR SUITE 860 CHICAGO,IL60606	N/A	PC	STUDENT AND FAMILY PERFORMANCES FUND	100,000
MERIT SCHOOL OF MUSIC 38 SOUTH PEORIA STREET CHICAGO,IL60607	N/A	PC	MUSIC TO MY EARS PROGRAM	32,000
MERIT SCHOOL OF MUSIC 38 SOUTH PEORIA STREET CHICAGO,IL60607	N/A	PC	CAPITAL CAMPAIGN	187,500
MERIT SCHOOL OF MUSIC 38 SOUTH PEORIA STREET CHICAGO,IL60607	N/A	PC	SOUTH SHORE PROGRAM	5,000
MERIT SCHOOL OF MUSIC 38 SOUTH PEORIA STREET CHICAGO,IL60607	N/A	PC	GENERAL FUND	68,000
MUSEUM OF SCIENCE AND INDUSTRY 5700 SOUTH LAKE SHORE DRIVE CHICAGO,IL60637	N/A	PC	GENERAL FUND	50,000
NORTHWESTERN UNIVERSITY 633 CLARK STREET EVANSTON,IL60208	N/A	PC	GENERAL FUND	10,000
SHEDD AQUARIUM SOCIETY 1200 S LAKE SHORE DRIVE CHICAGO,IL60605	N/A	PC	GENERAL FUND	50,000
SHIRLEY RYAN ABILITY LAB 355 E ERIE ST CHICAGO,IL60611	N/A	PC	GENERAL FUND	25,000
THE FIELD MUSEUM 1400 S LAKE SHORE DR CHICAGO,IL60605	N/A	PC	GENERAL FUND	50,000
Total ................................. 3a				1,436,000

bApproved for future payment

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

Form 990-PF (2024)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	6,653
4 Dividends and interest from securities ....			14	653,296
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	632,919
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		1,292,868	0

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

1,292,868

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2024)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

Paid Preparer Use Only	Print/Type 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 (2024)

Additional Data

Software ID:	24020961
Software Version:	2024v5.1

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2024 AccountingFeesSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ERNST & YOUNG, LLP	21,844	10,922		10,922

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BAIRD CORE PLUS BOND FUND	820,442	827,978
DODGE & COX INCOME FUND CL I	810,024	831,936
TCW EMERGING MARKETS INCOME FD CL I	0	0
VANGUARD INTERMEDIATE TERM TREAS INDEX FD ADM	289,028	295,241
FEDERATED HERMES INSTITUTIONAL HIGH YIELD BOND FD	294,935	309,191
MFS EMERGING MARKETS DEBT FUND	161,510	161,252
VANGUARD TOTAL BD MKT IDX INSTL CL	1,278,948	1,305,299
HARTFORD FLOATING RATE	0	0
U.S. TREASURY NOTE 0.50%	0	0
U.S TREASURY NOTE 0.75%	0	0
U.S TREASURY NOTE 1.875%	227,407	206,770
GOLDMAN SACHS GROUP INC GLB 3.85%	107,926	94,726
HYUNDAI AUTO ABS 4.85%	32,918	33,388
AMERICAN EXPRESS ABS 2022	0	0
NATIONAL RURAL UTIL COOP GLB 4.8%	0	0
SYNCHRONY CARD ABS 2022	0	0
UNITED TECHNOLOGIES CORP GLB 4.125%	56,742	49,962
TARGA RESOURCES PARTNERS	50,053	52,676
U.S TREASURY NOTE 2.375%	170,694	153,026
CAPITAL ONE FINANCIAL CO GLB VAR	0	0
U.S TREASURY NOTE 3.125%	53,644	53,874
U.S TREASURY NOTE 0.625%	596,063	534,533
MICRON TECHNOLOGY INC GLB	0	0
U.S TREASURY NOTE 2.75%	217,899	218,468
CONSTELLATION BRANDS INC. 4.9%	40,050	40,374
U.S TREASURY NOTE 3.375%	336,724	336,193
CARRIER GLOBAL CORP GLB 5.9%	36,460	37,556
T-MOBILE USA INC 5.15%	34,978	35,804
CHARLES SCHWAB CORP GLB	20,515	21,405
HOME DEPOT INC	0	0
MORGAN STANLEY SER MTN GLB VAR	73,860	78,143
CHARLES SCHWAB CORP GLB VAR	25,963	27,232
KROGER CO	0	0
FNMA PFM7754 2.0%	126,976	112,921
JPMORGAN CHASE & CO GLB VAR	175,309	130,554
U.S TREASURY BOND 2.75%	314,199	198,451
FNMA PBC0830 3.0%	126,825	108,571
U. S. TREASURY BOND 2.875%	195,953	160,981
CVS HEALTH CORP GLB 5.05%	39,537	40,038
ENERGY TRANSFER PARTNERS 6.0%	36,387	34,494
LOUISVILLE GAS & ELEC 4.25%	124,093	82,052
U.S. TREASURY BOND 2.875%	114,784	76,601
FNMA PCA4978 3.0%	72,139	60,359
FNMA PFM4226 2.5%	272,707	219,972
FNMA PCA7737 2.5%	324,340	262,206
FNMA PCB1808 2.5%	203,914	172,623
FHLMC RA 7128 3.5%	0	0
FNMA PCB3515 3.5%	0	0
FHLMC QE 4358 3.5%	201,330	202,661
FNMA PMA4784 4.5%	180,267	177,818
FNMA PFS7280	171,827	176,386
META PLATFORMS INC 5.6%	0	0
U.S. TREASURY BOND 3.625%	205,830	194,096
HCA INC 6%	71,810	75,147
ROYAL BANK OF CANADA GLB 1.2%	134,996	132,876
TORONTO-DOMINION BANK 1.95%	143,438	141,459
ROYALTY PHARMA PLC	34,361	34,970
FIDELITY ADVISOR FLOATING RATE HIGH INCOME FUND CLASS Z	152,591	153,254
U.S TREASURY NOTE 3.125%	350,438	356,666
MERCEDES-BENZ A ABS 2023	103,090	103,073
WELLS FARGO & COMPANY GLB	35,880	36,211
DELL INT LLC / EMC CORP COMPANY GUARNT GLB	50,012	51,619
AT&T INC GLB	36,957	36,836
RIO TINTO FIN USA PLC	39,987	41,219
DIAMONDBACK ENERGY INC	40,056	41,064
U.S TREASURY NOTE 4.250%	49,621	50,461
BAT CAPITAL CORP	35,540	36,365
PNC FINANCIAL SERVICES	35,504	36,017
ELI LILLY & CO	37,028	37,844
HP ENTERPRISE CO	38,264	38,254
SOUTHERN CO	76,113	79,920
COMCAST CORP	40,101	41,339
BOA ACCRUED INTEREST	0	53,151

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Name of Stock	End of Year Book Value	End of Year Fair Market Value
DFA US SMALL CAP VALUE PORTFOLIO INSTL	182,539	199,091
VANGUARD EXPLORER FD-ADMIN	164,780	199,631
JOHN HANCOCK DISC VALUE MID CAP FD	0	0
T ROWE PRICE MID-CAP GROWTH FD CL I	0	0
VANGUARD MID CAP INDEX FD CLASS I	515,647	655,703
COLUMBIA FUNDS INTEGRATED LG CAP GROWTH FD	0	0
DODGE & COX STOCK FUND CL I	322,279	359,045
HARBOR CAPITAL APPRCIATION FUND	238,049	391,224
JPMORGAN EQUITY INCOME FUND CLASS I	0	0
VANGUARD INSTITUTIONAL INDEX FD	1,588,354	2,358,304
DODGE & COX INTL STOCK FD CL I	229,576	311,634
MFS INTL INTRINSIC VALUE FD CLASS I	259,911	309,596
NYLI CANDRIAM EMERGING MKTS EQUITY FD CLASS	0	0
VANGUARD DEVELOP. MARKETS INDEX FD	222,716	305,981
VANGUARD FTSE ALL-WORLD EX U.S. SMALL CAP INDEX FUND	87,406	111,438
VANGUARD EMERGING MARKETS STOCK INDEX FUND ADM	143,877	188,479
VANGUARD 500 INDEX FUND SHS ETF	1,163,356	2,254,783
BLACKROCK SYSTEMATIC MULTI-STRATEGY FUND	326,986	331,016
NEUBERGER BERMAN LONG SHORT FUND INS	105,023	116,685
ABBOTT LABS	30,106	40,450
ADOBE INC	0	0
ALPHABET INC CL A	61,089	156,070
AMAZON COM INC COM	85,953	123,618
APPLE INC	93,771	221,783
AT&T INC	23,078	35,074
BECTON DICKISON CO	0	0
BERSKIRE HATHAWAY INC CL B NEW	33,940	81,947
BLACKROCK INC	18,333	36,142
BLACKSTONE INC	24,742	36,904
BOSTON SCIENTIFIC CORP	15,430	37,685
BOEING COMPANY	7,589	7,122
BROADCOM INC	21,182	195,307
CHEVRON CORP	12,955	26,555
CISCO SYSTEMS INC COM	15,070	22,921
COCA COLA COM	19,985	28,053
CONOCOPHILIPS	0	0
CONSTELLATION ENERGY CORP REG SHS	6,808	10,530
COSTCO WHOLESOLE CRP	13,384	38,876
DEERE CO	4,630	13,261
DISNEY (WALT) CO COM	9,120	11,679
ELI LILLY & CO	22,206	21,364
EQUINX INC	9,287	10,182
EXXON MOBIL CORP COM	31,706	35,967
FREEPORT-MCCORAN INC	0	0
GE AEROSPACE	20,203	33,090
HOME DEPOT INC	28,641	44,976
JOHNSON AND JOHNSON COM	22,674	27,813
JPMORGAN CHASE & CO	24,686	79,804
KKR & CO INC CL A	15,547	31,578
MARVELL TECH INC	0	0
MERCK AND CO INC	12,416	14,688
META PLATFORMS INC CLASS A COM STCK	55,782	91,063
MICROSOFT CORP	97,425	232,042
MONDELEZ INTERNATIONAL INC.	20,143	22,989
MORGAN STANLEY	14,650	49,278
NEXTERA ENERGY INC	26,294	25,063
NIKE INC CL B	0	0
NORTHROP GRUMMAN CORP	0	0
NVIDIA	14,867	274,832
PALO ALTO NETWORKS INC.	15,173	77,986
PNC FINANCIAL SERVICES GROUP	21,035	20,093
PROCTER & GAMBLE CO	22,025	22,894
PROLOGIS INC	17,748	19,583
RTX CORP	20,898	39,323
SALESFORCE INC	30,372	35,076
TARGET CORP COM	0	0
TESLA INC	37,958	68,932
THERMO FISHER SCIENTIFIC, INC	35,435	33,466
UNION PACIFIC CORP	11,872	14,182
UNITEDHEALTH GROUP INC	19,675	19,337
VISA INC CL A	36,254	63,155
WALMART INC	17,078	39,060
WASTE MANAGEMENT INC NEW	23,395	32,241
WELLS FARGO & CO	28,158	30,091
CHENIERE ENERGY	13,357	18,563
CHIPOTLE MEXICAN GRILL	15,072	10,464
DUPONT DE NEMOURS INC	18,393	22,825
ELECTRONIC ARTS INC	0	0
GENERAL MOTORS CO COM SHARES	12,024	18,596
HERSHEY COMPANY	0	0
HESS CORP	0	0
HILTON WORLDWIDE HOLDINGS INC REG	11,802	22,052
L3HARRIS TECHNOLOGIES INC	0	0
MGM RESORTS INTERNATIONAL	0	0
NUTANIX INC	12,013	15,696
QUANTA SERVICES INC	18,755	55,532
SEMPRA	27,197	29,244
SYSCO CORPORATION	27,465	29,231
VALERO ENERGY CORP NEW	18,926	26,731
VERTIV HLDG CO	26,132	52,499
VISTRA CORP	10,482	18,416
PRINCIPAL MIDCAP FUND CL R6	701,617	1,064,292
VANGUARD MID-CAP ETF	590,860	935,856
FULLER & THALER BEHVRL SMALL-CAP EQ FD CL R6	462,767	938,191
SPDR S P BIOTECH	32,474	34,669
ASML HLDG NV NY REG	22,964	40,660
ASTRAZENECA PLC SPND ADR	27,087	26,468
EATON CORP PLC	8,281	35,180
LVMH MOET HENNESSY ADR	0	0
VANGUARD FTSE DEVELOPED MARKETS ETF	883,410	1,218,773
VANGUARD FTSE EMERGING MARKETS ETF	387,118	515,523
MFS BLENDED RESEARCH MID CAP	406,865	440,652
JPMORGAN EQUITY INCOME FUND - R6	363,779	372,952
JPMORGAN LARGE CAP GROWTH FUND R6	339,045	388,468
AVANTIS EMERGING MARKETS EQUITY FUND	153,206	185,313
CAPITAL ONE	19,070	20,408
MASTERCARD INC	14,331	15,927
MCDONALDS CORP	21,803	22,184
UBER TECHNOLOGIES INC	14,982	18,712
3M COMPANY	21,173	24,674
BECKTON DICKINSON CO	24,082	19,091
FREEPORT-MCMORAN INC	23,411	24,944
MARVELL TECH INC	15,501	33,460
ISHARES CORE HIGH DIVIDEND ETF	250,524	266,451
MIDWEST INSTITUTIONAL TRUST CO. - ACCRUED DIVIDENDS	0	7,859
BOA ACCRUED DIVIDENDS	0	834

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
ABBEY CAPITAL FUTURES	FMV	69,123	56,455
ABBEY CAPITAL MULTI	FMV	30,962	32,569
AQR DIVERSIFIED ARBITRAGE FUND	FMV	75,339	84,023
BLACKROCK EVENT DRIVEN EQUITY FUND	FMV	77,013	81,492
BLACKROCK GLOBAL EQUITY MRKT	FMV	27,288	34,089
BLACKROCK GLOBAL LONG SHRT CRED	FMV	0	0
CALAMOS MARKET NEUTRAL	FMV	30,701	33,069
CATALYST MILLBURN HEDGE	FMV	31,689	31,973
EATON VANCE GLB MACRO	FMV	59,995	70,468
GOTHAM ABSOLUTE RETURN FUND	FMV	27,650	35,038
GOTHAM INDEX PLUS FIND CL INST	FMV	12,733	18,751
JPMORGAN HEDGED	FMV	26,399	33,697
NEUBERGER BERMAN LONG SHORT FUND	FMV	79,378	97,600
VICTORY MARKET NEUTRAL	FMV	15,659	15,550
BLACKROCK CREDIT RELATIVE VALUE FUND	FMV	31,727	33,488

- TIN:

TY 2024 LegalFeesSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
HOWARD & HOWARD ATTORNEYS PLLC	136,984	68,492		68,492

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Description	Amount
RETURN OF CAPITAL	128
ADJUSTMENT OF CARRYING VALUE	512
OTHER FUND BALANCE ADJUSTMENT	105

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MIDWEST INSTITUTIONAL TRUST CO. CUSTODIAN SERVICE	40,000	40,000	0	0
BOA CUSTODIAN SERVICE	85,087	85,087	0	0

- TIN:

TY 2024 TaxesSchedule

Name:

THE KNOWLES FOUNDATION

EIN:

36-6051968

Software ID:

24020961

Software Version:

2024v5.1

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
FEDERAL TAXES	5,000	0	0
FOREIGN TAXES	2,775	2,775	0
IL ATTORNEY GENERAL FEES	15	0	125
IL SECRETARY OF STATE	110	0	0
IRS EST	5,500	0	0