TY 2025 Form 990PF

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.........	3,210,002	3,988,655	3,988,655
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	32,431,584	List of Attached Documents: // Content 29,950,115	92,616,022
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	35,641,586	33,938,770	96,604,677
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	35,641,586	33,938,770
	29	Total net assets or fund balances (see instructions).....	35,641,586	33,938,770
	30	Total liabilities and net assets/fund balances (see instructions).	35,641,586	33,938,770

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	3,205,450
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

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	58,852
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	58,852
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	58,852
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	49,988
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............	7	49,988
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content	8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......	9	8,864
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...	10
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax	Refunded	11
	For Refunded amount, also complete and attach Form 8050. See instructions.

(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
ELIZABETH P KENAN	PRESIDENT 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522
ANGELA L THOMAS	TREASURER 15.00	50,000	0	0
PO BOX 22828 LEXINGTON,KY40522
JAMES GRAHAM KENAN IV	VICE-PRESIDENT 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522
EMMA KENAN THOMSON	DIRECTOR 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522
ANNE CLAY KENAN	SECRETARY 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522
ELIZABETH KENAN MORTON	DIRECTOR 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522
GEORGE BRANCH	DIRECTOR 0.50	0	0	0
PO BOX 22828 LEXINGTON,KY40522

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
AMERICAN SPIRITUAL ENSEMBLE 146 EAST BELL COURT LEXINGTON,KY40508	NONE		UNRESTRICTED	50,000
APPALACHIAN COMMUNITY FUND 1405 E MAGNOLIA AVE KNOXVILLE,TN37917	NONE		UNRESTRICTED	50,000
ASHLEY HALL 172 RUTLEDGE AVENUE CHARLESTON,SC29403	NONE		FINANCIAL AID/DIVERSITY	80,000
BABY HEALTH SERVICES 1401 HARRODSBURG RD SUITE A-420 LEXINGTON,KY40504	NONE		UNRESTRICTED	20,000
BARRIER ISLANDS FREE CLINIC 3226 MAYBANK HIGHWAY BLD C JOHNS ISLAND,SC29455	NONE		UNRESTRICTED	30,000
BEYOND BASIC LIFE SKILLS 406 NORTH GUM STREET SUMMERVILLE,SC29485	NONE		UNRESTRICTED	10,000
BEYOND OUR WALLS 2615 HARVEY AVE STE 4 NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	120,000
BISSELL PET FOUNDATION 2345 WALKER AVENUE NW GRAND RAPIDS,MI49544	NONE		UNRESTRICTED	10,000
BLUE GRASS COMMUNITY FOUNDATION 499 E HIGH ST STE 112 LEXINGTON,KY40507	NONE		BLACK PROSPERITY INIT.	50,000
BLUEGRASS LAND CONSERVANCY 450 OLD VINE STREET STE 105 LEXINGTON,KY40507	NONE		UNRESTRICTED	30,000
CASA OF LEXINGTON 3245 LOCH NESS DRIVE LEXINGTON,KY40517	NONE		UNRESTRICTED	5,000
CARNEGIE CENTER FOR LITERACY & LEARNING 251 WEST 2ND STREET LEXINGTON,KY40507	NONE		UNRESTRICTED	25,000
CENTRAL KENTUCKY YOUTH ORCHESTRAS 161 N MILL ST LEXINGTON,KY40507	NONE		UNRESTRICTED	10,000
CHARLESTON AREA JUSTICE MINISTRY PO BOX 71416 NORTH CHARLESTON,SC29415	NONE		UNRESTRICTED	15,000
CHARLOTTESVILLE FREE CLINIC 901 PRESTON AVE STE 301 CHARLOTTESVILLE,VA22903	NONE		UNRESTRICTED	60,000
CHARLESTON PROMISE NEIGHBORHOOD 1834 SUMMERVILLE AVE STE200 CHARLESTON,SC29405	NONE		UNRESTRICTED	100,000
CHRIST EPISCOPAL CHURCH 100 W JEFFERSON ST CHARLOTTESVILLE,VA22902	NONE		UNRESTRICTED	75,000
CHRYSALIS HOUSE INC 1589 HILL RISE DRIVE LEXINGTON,KY40504	NONE		UNRESTRICTED	20,000
CITY OF PROMISE PO BOX 5628 CHARLOTTESVILLE,VA22905	NONE		UNRESTRICTED	50,000
CLIENT EARTH 1000 N WEST ST STE 1200 WILMINGTON,DE19801	NONE		UNRESTRICTED	100,000
COMMON GOOD 1015 N LIMESTONE LEXINGTON,KY40505	NONE		UNRESTRICTED	50,000
COMMONWEALTH FUND FOR KET 560 COOPER DRIVE LEXINGTON,KY40502	NONE		UNRESTRICTED	15,000
COMMUNITIES IN SCHOOLS SOUTH CAROLINA 1691 TURNBULL AVE SUITE 200 NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	60,000
DEE NORTON CHILD ADVOCACY CENTER 1061 KING STREET CHARLESTON,SC29403	NONE		UNRESTRICTED	25,000
DREAM CENTER CLINIC 1220 SUMMER AVE NORTH CHARLESTON,SC29406	NONE		UNRESTRICTED	35,000
EIGHT MILLION STORIES PO BOX 10557 HOUSTON,TX77206	NONE		UNRESTRICTED	60,000
ENVIRONMENTAL DEFENSE FUND 257 PARK AVENUE SOUTH NEW YORK,NY100107304	NONE		METHANE SAT	30,000
ENVIRONMENTAL DEFENSE FUND 257 PARK AVENUE SOUTH NEW YORK,NY100107304	NONE		CLIMATE INITIATIVE	30,000
EQUAL JUSTICE INITIATIVE 122 COMMERCE STREET MONTGOMERY,AL36104	NONE		UNRESTRICTED	10,000
FAYETTE COUNTY PUBLIC SCHOOLS 450 PARK PLACE LEXINGTON,KY40511	NONE		CARTER G WOODSEN ACADEMY	50,000
FETTER HEALTH CARE NETWORK 51 NASSAU STREET CHARLESTON,SC29403	NONE		UNRESTRICTED	40,000
FLORENCE CRITTENTON PROGRAMS OF SC 19 SAINT MARGARET STREET CHARLESTON,SC29403	NONE		UNRESTRICTED	10,000
FOCUSED ULTRASOUND 1230 CEDARS COURT SUITE 206 CHARLOTTESVILLE,VA22903	NONE		UNRESTRICTED	20,000
FOOD CHAIN 501 W SIXTH ST STE 105 LEXINGTON,KY40508	NONE		UNRESTRICTED	50,000
GOD'S PANTRY FOOD BANK 1685 JAGGIE FOX WAY LEXINGTON,KY40511	NONE		UNRESTRICTED	25,000
GOOD SHEPHERD EPISCOPAL CHURCH 533 E MAIN STREET LEXINGTON,KY40508	NONE		OUTREACH PROGRAMS	30,000
HALOS 4995 LACROSS RD STE 1250 NORTH CHARLESTON,SC29406	NONE		GENERAL OPERATIONS	25,000
HEART MATH TUTORING PO BOX 30623 CHARLOTTE,NC28230	NONE		PROGRAMS IN CHARLESTON	20,000
HIGHER GROUND RECOVERY PO BOX 3 PENNINGTON GAP,VA24277	NONE		UNRESTRICTED	35,000
HOPE CENTER PO BOX 6 LEXINGTON,KY40588	NONE		UNRESTRICTED	25,000
INSTITUTE FOR SHELTER CARE 208 N SECOND AVENUE LAGRANGE,KY40031	NONE		UNRESTRICTED	10,000
INTERNATIONAL RESCUE COMMITTEE 375 GREENBRIER DR SUITE 200 CHARLOTTESVILLE,VA22901	NONE		UNRESTRICTED	10,000
JEFFERSON SCHOOL AFRICAN AMERICAN HERITAGE CTR 233 4TH STREET NW CHARLOTTESVILLE,VA22903	NONE		UNRESTRICTED	25,000
JOSHUA COMMUNITY CONNECTORS PO BOX 3133 LOUISVILLE,KY40201	NONE		UNRESTRICTED	75,000
JUNIOR ACHIEVEMENT OF GREATER SC 2711 MIDDLEBURG DR STE 301 COLUMBIA,SC29204	NONE		UNRESTRICTED	20,000
KENTUCKY CENTER FOR ECONOMIC POLICY 433 CHESTNUT STREET BEREA,KY40403	NONE		UNRESTRICTED	25,000
KENTUCKY NATURAL LANDS TRUST 433 CHESTNUT STREET BEREA,KY40403	NONE		UNRESTRICTED	35,000
KENTUCKY RESOURCE COUNCIL PO BOX 1070 FRANKFORT,KY40602	NONE		UNRESTRICTED	165,000
KENTUCKY REFUGEE MINISTRIES 1710 ALEXANDRIA DR STE 2 LEXINGTON,KY40504	NONE		UNRESTRICTED	25,000
KENTUCKY VOICES FOR HEALTH 1640 LYNDON FARM CT STE 108 LOUISVILLE,KY40223	NONE		UNRESTRICTED	25,000
KENTUCKY WATERWAYS ALLIANCE 120 WEBSTER ST STE 217 LOUISVILLE,KY40206	NONE		UNRESTRICTED	35,000
KIDS CANCER ALLIANCE PO BOX 24337 LOUISVILLE,KY40224	NONE		UNRESTRICTED	5,000
KIDS ON POINT PO BOX 22731 CHARLESTON,SC29413	NONE		UNRESTRICTED	120,000
LEARNING OUTSIDE PO BOX 718 CARLBORO,NC27510	NONE		UNRESTRICTED	10,000
LEXINGTON HABITAT FOR HUMANITY 700 E LOUDON AVENUE LEXINGTON,KY40505	NONE		UNRESTRICTED	20,000
LEXINGTON PHILHARMONIC 161 N MILL ST LEXINGTON,KY40507	NONE		UNRESTRICTED	10,000
LEXINGTON PUBLIC LIBRARY FOUNDATION 140 E MAIN ST LEXINGTON,KY40507	NONE		UNRESTRICTED	10,000
LEXINGTON RESCUE MISSION PO BOX 1050 LEXINGTON,KY40588	NONE		PROJECT PEACE	15,000
LITTLE TRAVERSE CONSERVANCY 3264 POWELL RD HARBOR SPRINGS,MI49740	NONE		UNRESTRICTED	20,000
LOW COUNTRY LAND TRUST 635 RUTLEDGE AVE STE 107 CHARLESTON,SC29403	NONE		UNRESTRICTED	40,000
LOWCOUNTRY LITERACY PROJECT 1121 PARK WEST BLVD STE B92 MOUNT PLEASANT,SC29466	NONE		UNRESTRICTED	60,000
MEETING STREET SCHOOLS 200 MEETING ST STE 206 CHARLESTON,SC29401	NONE		UNRESTRICTED	35,000
METANOIA 2005 REYNOLDS AVE NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	30,000
MICAH LEGAL SERVICES 219 E SHORT STREET LEXINGTON,KY40507	NONE		UNRESTRICTED	45,000
MISSION HEALTH LEXINGTON 230 S MARTIN LUTHER KING BLVD LEXINGTON,KY40508	NONE		UNRESTRICTED	5,000
MOUNTAIN ASSOCIATION 433 CHESTNUT STREET BEREA,KY40403	NONE		UNRESTRICTED	25,000
MOUNTAIN EMPIRE OLDER CITIZENS PO BOX 888 BIG STONE GAP,VA24219	NONE		UNRESTRICTED	15,000
MY SISTER'S HOUSE PO BOX 71171 NORTH CHARLESTON,SC29415	NONE		UNRESTRICTED	85,000
NEIGHBORS TOGETHER 2105 COSGROVE AVENUE NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	10,000
NEW MORNING FOUNDATION 1501 MAIN STREET SUITE 150 COLUMBIA,SC29201	NONE		UNRESTRICTED	20,000
NORTHSIDE COMMON MARKET 101 W LOUDON AVENUE SUITE 150 LEXINGTON,KY40508	NONE		JULIETTA MARKET	45,000
NORTHERN HOMES CDC PO BOX 86 BOYNE CITY,MI49712	NONE		HARBOR AREA RESIDENTIAL TRUST	35,000
NRDC- CHINA DISPERSED COAL GOVERNANCE 40 W 20TH STREET NEW YORK,NY10011	NONE		UNRESTRICTED	70,000
ONE PARENT SCHOLAR HOUSE PO BOX 1457 LEXINGTON,KY40588	NONE		UNRESTRICTED	40,000
ONE-EIGHTY PLACE PO BOX 20038 CHARLESTON,SC29413	NONE		UNRESTRICTED	20,000
OPEN SPACES INSTITUTE 328 EAST BAY STREET CHARLESTON,SC29401	NONE		SC SEA ISLANDS	40,000
OPERATION HOME 2120 NOISETTE BLVD STE 124 NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	20,000
PARK COUNTY ENVIROMENTAL COUNCIL PO BOX 164 LIVINGSTON,MT59047	NONE		UNRESTRICTED	15,000
PATRIOT FOUNDATION PO BOX 5070 PINEHURST,NC28375	NONE		UNRESTRICTED	50,000
PLANNED PARENTHOOD SOUTH ATLANTIC 100 SOUTH BOYLAN AVENUE RALEIGH,NC27603	NONE		UNRESTRICTED	10,000
PORTER-GAUD SCHOOL 300 ALBEMARLE ROAD CHARLESTON,SC29403	NONE		UNRESTRICTED	120,000
READY KIDS 1000 E HIGH ST CHARLOTTESVILLE,VA22902	NONE		UNRESTRICTED	40,000
SALISBURY SCHOOL 251 CANAAN RD SALISBURY,CT06068	NONE		UNRESTRICTED	20,000
SAYRE SCHOOL 194 S LIMESTONE LEXINGTON,KY40507	NONE		UNRESTRICTED	20,000
SC APPLESEED LEGAL JUSTICE CENTER PO BOX 7187 COLUMBIA,SC29202	NONE		UNRESTRICTED	15,000
SEEDLEAF INC 714 NORTH LIMESTONE LEXINGTON,KY40508	NONE		UNRESTRICTED	25,000
SELC 201 WEST MAIN ST STE 14 CHARLOTTESVILLE,VA22902	NONE		UNRESTRICTED	30,000
SIN BARRERAS PO BOX 6433 CHARLOTTESVILLE,VA22906	NONE		UNRESTRICTED	15,000
SLAVE DWELLING PROJECT PO BOX 1469 LADSON,SC29456	NONE		UNRESTRICTED	5,000
SMOKETOWN FAMILY WELLNESS CENTER PO BOX 4692 LOUISVILLE,KY40204	NONE		UNRESTRICTED	20,000
SOUTH CAROLINA CHILDRENS FUND 145 RIVER LANDING DR 202 CHARLESTON,SC29492	NONE		UNRESTRICTED	100,000
SPEAK UP FOR KIDS PBC PO BOX 1896 WEST PALM BEACH,FL33402	NONE		UNRESTRICTED	60,000
ST ANNE'S-BELFIELD SCHOOL 2132 IVY ROAD CHARLOTTESVILLE,VA22903	NONE		UNRESTRICTED	170,000
ST ANDREWS SCHOOL 350 NOXONTOWN ROAD MIDDLETOWN,DE19709	NONE		UNRESTRICTED	20,000
STAR GOSPEL MISSION 474 MEETING STREET CHARLESTON,SC29403	NONE		UNRESTRICTED	160,000
STEP BY STEP INC PO BOX 593 LEXINGTON,KY40588	NONE		UNRESTRICTED	25,000
SURFRIDER FOUNDATION PO BOX 73550 SAN CLEMENTE,CA92673	NONE		PROJECTS IN THE CAROLINAS	25,000
SURGERY ON SUNDAY 533 WALLER AVENUE LEXINGTON,KY40504	NONE		UNRESTRICTED	20,000
TETON REGIONAL LAND TRUST PO BOX 247 DRIGGS,ID83422	NONE		UNRESTRICTED	15,000
THE BERRY CENTER PO BOX 581 NEW CASTLE,KY40049	NONE		UNRESTRICTED	30,000
THE BLACK SOIL CHARITABLE FUND 820 LANE ALLEN ROAD STE176 LEXINGTON,KY40504	NONE		UNRESTRICTED	50,000
THE BLUEGRASS TRUST FOR HISTORIC PRESERVATION 253 MARKET ST LEXINGTON,KY40507	NONE		UNRESTRICTED	10,000
THE BRIGID ALLIANCE PO BOX 58 NEW YORK,NY10024	NONE		UNRESTRICTED	15,000
THE FORMATION PROJECT PO BOX 71863 NORTH CHARLESTON,SC29415	NONE		UNRESTRICTED	30,000
THE EVERGLADES FOUNDATION 18001 OLD CUTLER RD STE625 PALMETTO BAY,FL33157	NONE		UNRESTRICTED	10,000
THE LYRIC 300 E THIRD ST LEXINGTON,KY40508	NONE		UNRESTRICTED	25,000
THE NATURE CONSERVANCY OF KENTUCKY 114 WOODLAND AVE LEXINGTON,KY40502	NONE		UNRESTRICTED	20,000
THE SALVATION ARMY 736 WEST MAIN ST LEXINGTON,KY40508	NONE		UNRESTRICTED	30,000
THE WOMEN'S INITIATIVE 1101 E HIGH ST STE A CHARLOTTESVILLE,VA22902	NONE		UNRESTRICTED	160,000
TURN 90 3765 LEEDS AVENUE NORTH CHARLESTON,SC29405	NONE		UNRESTRICTED	115,000
UNC-CHAPEL HILL PO BOX 309 CHAPEL HILL,NC27514	NONE		WINSTON CENTER	200,000
UK INSTITUTE FOR BLACK STUDIES PO BOX 910628 LEXINGTON,KY40591	NONE		UNRESTRICTED	60,000
UNITING VOICES 78 E WASHINGTON ST CHICAGO,IL60602	NONE		UNRESTRICTED	55,000
URBAN LEAGUE OF LEXINGTON 148 DEWEESE STREET LEXINGTON,KY40507	NONE		MADE PROGRAM	75,000
VANDERBILT UNIVERSITY PO BOX 290369 NASHVILLE,TN37229	NONE		WADDELL WALKER HANCOCK CANCER DISCOVERY FUND	25,000
VERMONT WILDERNESS SCHOOL PO BOX 2585 BRATTLEBORO,VT05303	NONE		UNRESTRICTED	35,000
VIRGINIA DISCOVERY MUSEUM PO BOX 1128 CHARLOTTESVILLE,VA22902	NONE		UNRESTRICTED	20,000
VISION TO LEARN 101 ASHLEY AVENUE CHARLESTON,SC29401	NONE		UNRESTRICTED	25,000
WEST END COMMUNITY EMPOWERMENT PROJECT 498 GEORGETOWN STREET LEXINGTON,KY40508	NONE		UNRESTRICTED	15,000
WESTMINSTER SCHOOL 995 HOPMEADOW ST SIMSBURY,CT06070	NONE		UNRESTRICTED	100,000
WINGS FOR KIDS 476 MEETING STREET STE E CHARLESTON,SC29403	NONE		UNRESTRICTED	75,000
WORLDWIDE HEARTS & HANDS 1604 HARMONY LN LEXINGTON,KY40502	NONE		UNRESTRICTED	10,000
Total ................................. 3a				5,025,000

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


1	Contributions, gifts, grants, etc., received (attach schedule)	1,066,540
2	Check .................
3	Interest on savings and temporary cash investments	304		304
4	Dividends and interest from securities...	1,097,354		1,114,767
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		1,308,190
b	Gross sales price for all assets on line 6a 3,789,660
7	Capital gain net income (from Part IV, line 2)...			3,205,450
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	248	0
12	Total. Add lines 1 through 11........	3,472,636		4,320,521
13	Compensation of officers, directors, trustees, etc.	50,000		25,000	25,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	16,550	8,275	8,275
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	1,819	0	1,819
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	46,378	17,647	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	35,705	35,611	94
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	150,452		86,533	35,188
25	Contributions, gifts, grants paid.......	5,025,000			5,025,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	5,175,452		86,533	5,060,188
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,702,816
b	Net investment income (if negative, enter -0-)			4,233,988
c	Adjusted net income (if negative, enter -0-)...

(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
1 a	PUBLICLY TRADED SECURITIES	P
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	3,789,660	584,210	3,205,450
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			3,205,450
b
c
d
e

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


(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

	(a) Corpus	(b) Years prior to 2024	(c) 2024	(d) 2025
1 Distributable amount for 2025 from Part X, line 7				4,472,673
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......			1,576,885
b Total for prior years:20 , 20, 20		0
3 Excess distributions carryover, if any, to 2025:
a From 2020......
b From 2021......
c From 2022......
d From 2023......
e From 2024......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 5,060,188
a Applied to 2024, but not more than line 2a			1,576,885
b Applied to undistributed income of prior years (Election required—see instructions) .....		0
c Treated as distributions out of corpus (Election required—see instructions) ........	0
d Applied to 2025 distributable amount.....				3,483,303
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2025.	0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5	0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........		0
e Undistributed income for 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2025. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2026 ..........				989,370
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......	0
8 Excess distributions carryover from 2020 not applied on line 5 or line 7 (see instructions) ...	0
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2021 ....
b Excess from 2022 ....
c Excess from 2023 ....
d Excess from 2024 ....
e Excess from 2025 ....

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2025	(b) 2024	(c) 2023	(d) 2022	(e) Total

b 85% (0.85) of line 2a .......
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, 3b, or 3c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

bApproved for future payment

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

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	304
4 Dividends and interest from securities ....			14	1,097,354
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	1,308,190
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INCOME			01	248
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		2,406,096	0

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.

Name of organization ELHAPA FOUNDATION INC

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	ELKHORN CHARITABLE TRUST PO BOX 22828 LEXINGTON, KY40522	$ 1,066,540	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Name of organization ELHAPA FOUNDATION INC		Employer identification number 47-5371533

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)


Name of organization ELHAPA FOUNDATION INC			Employer identification number 47-5371533
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ALPHABET INC CAP STK - 50,000 SHS	2,550,921	15,650,000
AMERICAN EXPRESS CO - 8,750 SHS	737,100	3,237,063
BERKSHIRE HATHAWAY INC CLS A - 10 SHS	2,547,000	7,548,000
BERKSHIRE HATHAWAY INC CLS B - 17,750 SHS	3,145,212	8,922,038
ILLINOIS TOOL WKS INC - 11,500 SHS	1,745,953	2,832,450
INTUIT - 13,500 SHS	1,922,942	8,942,670
JOHNSON & JOHNSON - 27,250 SHS	3,658,480	5,639,388
MICROSOFT CORP - 41,500 SHS	3,042,559	20,070,230
NORDSON CORP - 16,667 SHS	2,022,040	4,007,247
NORTHERN TR CORP - 13,334 SHS	1,296,198	1,821,291
PHILLIP MORRIS INTL COM STK - 7,734 SHS	908,358	1,240,534
PROCTER & GAMBLE - 17,000 SHS	1,481,550	2,436,270
SANOFI SPONSORED ADR - 19,334 SHS	926,292	936,926
T ROWE PRICE GROUP - 17,500 SHS	1,629,897	1,791,650
VISA INC - 21,500 SHS	2,335,613	7,540,265

Software ID:
Software Version: