Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
The Karen Katen Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address) PO Box 2630
  Room/suite
City or town
Westport
State or province
CT
Country  
ZIP or foreign postal code
06880
A Employer identification number

20-7103490
B Telephone number (see instructions)

2032268997
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)$6,446,428J 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 271 271  
4 Dividends and interest from securities... 99,388 99,388  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,071,600
b Gross sales price for all assets on line 6a 1,206,309
7 Capital gain net income (from Part IV, line 2)... 1,071,600
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)..... 0  
11 Other income (attach schedule)....... 0    
12 Total. Add lines 1 through 11........ 1,171,259 1,171,259  
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)......... 0      
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,500 2,500    
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
14,990 14,990    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
31,224      
19 Depreciation (attach schedule) and depletion... 0    
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 0      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 48,714 17,490   0
25 Contributions, gifts, grants paid....... 368,050 368,050
26 Total expenses and disbursements. Add lines 24 and 25 ................ 416,764 17,490   368,050
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 754,495
b Net investment income (if negative, enter -0-) 1,153,769
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............. 134,530 20,025 20,025
2 Savings and temporary cash investments.........      
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).....   0  
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts     0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 284,044 Click to see attachment
List of Attached Documents:
// Content
446,314 		1,330,619
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,846,431 Click to see attachment
List of Attached Documents:
// Content
3,544,433 		5,095,784
14 Land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)     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) 3,265,005 4,010,772 6,446,428
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe ) 0 0
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 3,265,005 4,010,772
29 Total net assets or fund balances (see instructions)..... 3,265,005 4,010,772
30 Total liabilities and net assets/fund balances (see instructions). 3,265,005 4,010,772
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
3,265,005
2
Enter amount from Part I, line 27a .....................
2
754,495
3
Other increases not included in line 2 (itemize)
3
 
4
Add lines 1, 2, and 3 ..........................
4
4,019,500
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
8,728
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
4,010,772
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 IShares Trust Core Divid GWTH P 2021-03-26 2025-06-16
b Vanguard Index FDS Vanguard Growth ETF P 2018-05-08 2025-09-17
c Home Depot Inc P 2008-05-27 2025-05-21
d Home Depot Inc P 2008-05-27 2025-06-16
e L3Harris Technologies P 2012-12-10 2025-06-23
(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 25,061 0 19,204 5,857
b 94,585 0 29,094 65,491
c 998,576 0 72,131 926,445
d 25,134 0 1,907 23,227
e 62,953 0 12,373 50,580
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 0 0 5,857
b 0 0 0 65,491
c 0 0 0 926,445
d 0 0 0 23,227
e 0 0 0 50,580
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 1,071,600
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 16,037
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 16,037
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 16,037
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 5,000
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.............. Part VI Line 7 - Tax Paid with the Original Return: 5000 7 5,000
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
8 496
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed....... 9 11,533
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10  
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax0 Refunded 11  
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)
CT
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
Yes
 
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 ofElwood B Davis Telephone no. (203) 226-8997

Located at518B Riverside DriveWestportCT ZIP+406880
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
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(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
 
No
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
Yes
 
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
Karen L Katen Trustee
0.50 		0 0 0
827 Pembroke Court
Vero Beach,FL32963
Donna Katen-Bahensky Trustee
0.50 		0 0 0
9033 Englewood Court
Vero Beach,FL32963
Elwood B Davis Trustee
0.50 		0 0 0
PO Box 2630
Westport,CT06880
Robert E Williams Jr Trustee
0.50 		0 0 0
827 Pembroke Court
Vero Beach,FL32963
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................  
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
6,111,322
b
Average of monthly cash balances.......................
1b
733
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
6,112,055
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
6,112,055
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
91,681
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
6,020,374
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
301,019
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
301,019
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
16,037
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
16,037
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
284,982
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
284,982
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
284,982
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
368,050
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
368,050
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 7 284,982
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2025:
a From 2020...... 314,957
b From 2021...... 295,722
c From 2022...... 388,455
d From 2023...... 337,600
e From 2024...... 68,811
f Total of lines 3a through e ........ 1,405,545
4Qualifying distributions for 2025 from Part
XI, line 4: $ 368,050
a Applied to 2024, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions) ..... 		 
c Treated as distributions out of corpus (Election
required—see instructions) ........ 		0
d Applied to 2025 distributable amount..... 284,982
e Remaining amount distributed out of corpus 83,068
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 1,488,613
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 2024. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2025. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2026 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2020 not
applied on line 5 or line 7 (see instructions) ... 		314,957
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		1,173,656
10 Analysis of line 9:
a Excess from 2021 .... 295,722
b Excess from 2022 .... 388,455
c Excess from 2023 .... 337,600
d Excess from 2024 .... 68,811
e Excess from 2025 .... 83,068
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).)
Karn L Katen
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 if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

Alzheimers Assn

225 N Michigan Ave
Chicago,IL60601 		    unrestricted grant 25,000

Camp Haven

3256 US Hwy 1
Vero beach,FL32960 		    unrestrictedgrant 250

ASPCA

424 E 92nd Street
New York,NY10128 		    unrestrictedgrant 1,000

Essex Library Assn

33 West Avenue
Essex,CT06426 		    unrestrictedgrant 500

The Learning Alliance

197 E Broadway
New York,NY10002 		    unrestrictedgrant 2,000

Brady United

840 First Street NE Suite 400
Washington,DC20002 		    unrestrictedgrant 500

Capitol Squash

300 Summit Street
Hartfod,CT06106 		    unrestrictedgrant 1,000

Valley Shore YMCA

201 Spencer Plains Road
Westbrook,CT06498 		    unresricted grant 250

Boys and Girls Club

42-600 Caocxh street
Palm Desert,CA92211 		    unrestrictedgrant 500

Court Appt Special Advocate

157 Church street
New Haven,CT06510 		    unrestrictedgrant 1,500

Connecticut River Museum

67 Main Street
Essex,CT06426 		    unrestrictedgrant 25,000

Child and Family of SE CT

7 Vauxhall Street
New London,CT06320 		    unrestrictedgrant 1,500

Community Foundation of Middlesex County

49 Main St
Middletown,CT06457 		    unrestrictedgrant 500

Cleveland Clinic Indian River

1000 36th Street
Vero Beach,FL32960 		    unrestrictedgrant 73,200

Deep River Volunteer Fire

57 Union Street
Deep River,CT06417 		    unrestrictedgrant 500

Environmental Learning Center

501 Wolcott Road
Bristol,CT06010 		    unrestrictedgrant 2,500

First Congregation Church

PO Box 246
Deep River,CT06417 		    unrestrictedgrant 0

Florence Griswold Museum

96 Lyme Street
Old Lyme,CT06371 		    unrestrictedgrant 2,500

Essex Historical Soc

22 Prospect Street
Essex,CT06426 		    unrestrictedgrant 500

Gifford Youth Center

4875 43rd Ave
Vero Beach,FL32967 		    unrestrictedgrant 2,000

Deep River Library

150 Main Street
Deep River,CT06417 		    unrestrictedgrant 250

Deep River Land Trust

PO Box 101
Deep River,CT06417 		    unrestrictedgrant 500

Canine Campanions

PO Box 446
Santa Rosa,CA95402 		    unrestrictedGrant 250

Indian River Historical Society

2336 14th Ave
Vero Beach,FL32960 		    unrestrictedgrant 250

Help Me See

20 West 36th Street
New York,NY10018 		    unrestricted Grant 5,000

Global Kids

102 Madison Avenue 2nd floor
New York,NY10016 		    unrestrictedgrant 1,000

Indian River Habitat For Humanity

4568 N US 1
Vero Beach,FL32967 		    unrestrictedgrant 2,000

Indian River Land Trust

80 Royal Palm Pointe
Vero beach,FL32960 		    unrestrictedgrant 5,000

Habitat Scholarship Fund

322 West Lamar Street
Atlanta,GA31709 		    unrestrictedgrant 0

Johns Island Community Service

660 Beachland Blvd 208
Vero Beach,FL32963 		    unrestictedgrant 5,000

Johns Island Foundation

4445 Hwy A1A suite 232
Vero Beach,FL32963 		    unrestrictedgrant 3,000

McKee Botanical Gardens

350 US 1
Vero Beach,FL32962 		    unrestrictedgrant 25,000

Macular Degeneration Research

22512 Gateway Center Drive
Clarksburg,MD20871 		    unrestrictedgrant 300

NY Botanical Garden Center

2900 Southern Blvd
Bronx,NY10458 		    unrestictedgrant 25,000

Pelican Island Audobon

195 Oslo Road
Vero Beach,FL32962 		    unrestrictedgrant 0

Humane Society of Vero Beach

6230 77th Street
Vero Beach,FL32967 		    unrestrictedgrant 500

Indian River State College

3209 Virginia Avenue
Fort Pierce,FL34981 		    unrestrictedgrant 2,000

Salvation Army

615 Slaters Lane
Alexandria,VA23314 		    unrestrictedgrant 350

Middlesex Health Philanthropy

28 Crescent Street
Middlesex,CT06457 		    unrestrictedgrant 25,000

Senior Resource Assn

694 14th Street
Vero Beach,FL32960 		    unrestrictedgrant 2,000

St Judes Childrens Hospital

501 St Jude Place
Memphis,TN38105 		    unrestrictedgrant 2,000

St Theresa Academy

5600 Main Street
Kansas City,MO64113 		    unrestrictedgrant 500

Wheels & Keels Fdtn

PO Box 612
Vero Beach,FL32961 		    unrestrictedgrant 0

Shoreline Soup Kitchen

PO Box 804
Essex,CT06426 		    unrestrictedgrant 350

Treasure Coast Food Bank

401 Angle Road
Fort Pierce,FL34947 		    unrestrictedgrant 300

MG Car Club

139 Crecent Circle
Cheshire,CT06410 		    unrestrictedgrant 0

Trickle Up

104 W 27th St 12th floor
New York,NY10001 		    unrestrictedgrant 3,000

United Way of Indian River

1836 14th Avenue
Vero Beach,FL32960 		    unrestrictedgrant 2,000

University of Chicago

5801 S Ellis Avenue
Chicago,IL60637 		    unrestrictedgraant 50,000

Simpson College

40 De Biasi Dr
New London,CT06320 		    unrestrictedgrant 30,000

Miss Stacie's Foundation

90 Main Street
Centerbrook,CT06426 		    unrestrictedgrant 7,000

Vero Beach Dog Park

3449 Indian River Dr E
Vero Beach,FL32963 		    unrestrictedgrant 0

Old Lyme Lions Club

PO Box 32
Old Lyme,CT06371 		    unrestrictedgrant 500

Visiting Nurse of Lower valley

61 Main Street
Centerbrook,CT06409 		    unrestrictedgrant 5,500

Old Lyme Ambulance

14 Cross Lane
Old Lyme,CT06371 		    unrestrictedgrant 0

Essex Fire Dept

11 Saybrook Road
Essex,CT06426 		    unrestrictedgrant 250

Senior Resources Association

694 14th Street
Vero Beach,FL32960 		    unrestrictedgrant 0

Wounded Warrior Project

370 7th Avenue Ste 1802
New York,NY10001 		    unrestrictedgrant 1,000

The Kate

300 Main Street
Old Saybrook,CT06475 		    unrestricted grant 0

Covenant Shelter of New London

42 Jay St
New London,CT06320 		    unrestrictedgrant 2,500

Red Door Community

195 W Houston Street
New York,NY10014 		    unrestricted grant 2,500

Susan Komen Annual Fund

13770 Noel Road
Dallas,TX75380 		    unrestrictedgrant 2,000

Vets Council of Indian River

1790 14th Avenue
Vero Beach,FL32960 		    unrestrictedgrant 0

Youth Guidance

1 N LaSalle St 900
Chicago,IL60602 		    unrestrictedgrant 6,300

Deep River Chester Lions Club

PO Box 232
Deep River,CT06417 		    unrestrictedgrant 250

The Gaylord Foundation

PO Box 400
Wallingford,CT06492 		    unrestrictedgrant 500

Historical Society of Santuit and Cotuit

1148 Main St
Cotuit,MA02635 		    unrestrictedgrant 500

Ocean Research & Conservation Association

1235 16th Street
Vero Beach,FL32960 		    unrestrictedgrant 1,000

One Love Learning

261 Walker St
Atlanta,GA30313 		    unrestrictedgrant 2,000

Planned Parenthood

PO Box 96771
Washington,DC200907166 		    unrestrictedgrant 5,000
Total ................................. 3a 368,050
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 ........... 		    14 271  
4 Dividends and interest from securities ....     14 99,388  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,071,600  
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) ..   1,171,259  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,171,259
(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.)
1 None
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:  
Part V Line 7 - Tax Paid with the Original Return: 5,000


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
The Karen Katen Foundation
EIN:
20-7103490
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
NFC accounting 2,500 2,500    

TY 2025 InvestmentsCorpStockSchedule
Name:
The Karen Katen Foundation
EIN:
20-7103490
Name of Stock End of Year Book Value End of Year Fair Market Value
Home Depot common 13,239 169,641
BXSL 248,681 206,875
L3Harris Technologies 184,394 954,103

TY 2025 InvestmentsOtherSchedule2
Name:
The Karen Katen Foundation
EIN:
20-7103490
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
DGRO   449,427 591,458
VOO   1,562,425 2,036,291
IJR   315,174 364,145
QQQ   320,181 453,975
VUG   648,187 1,365,520
ACWI   249,039 284,395

TY 2025 OtherDecreasesSchedule
Name:
The Karen Katen Foundation
EIN:
20-7103490
Description Amount
Difference between book and market 8,728


TY 2025 OtherProfessionalFeesSchedule
Name:
The Karen Katen Foundation
EIN:
20-7103490
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Northeast Financial Investment management 14,990 14,990    


TY 2025 TaxesSchedule
Name:
The Karen Katen Foundation
EIN:
20-7103490
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Excise tax 31,224      
Bank fees