TY 2025 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.
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
VAN STRUM FOUNDATION 8833023

Number and street (or P.O. box number if mail is not delivered to street address) 901 SOUTH BOND STREET STE 400
Room/suite

City or town
BALTIMORE

State or province
MD

Country

ZIP or foreign postal code
21231

A Employer identification number

94-2870047

B Telephone number (see instructions)

4438735262

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

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

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

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

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 .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$8,052,827J 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)
2	Check .................
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	104,150		102,783
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		736,381
b	Gross sales price for all assets on line 6a 2,347,716
7	Capital gain net income (from Part IV, line 2)...			736,381
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	840,531		839,164
13	Compensation of officers, directors, trustees, etc.	6,000				6,000
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	1,399	0	0	1,399
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	39,157	39,157		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	9,218	2,121		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	100			100
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	55,874		41,278	0	7,499
25	Contributions, gifts, grants paid.......	395,000				395,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	450,874		41,278	0	402,499
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	389,657
b	Net investment income (if negative, enter -0-)			797,886
c	Adjusted net income (if negative, enter -0-)...				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	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.........	189,871	327,092	327,092
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	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 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).......	3,691,885	List of Attached Documents: // Content 3,942,377	6,732,405
	c	Investments—corporate bonds (attach schedule).......	1,079,218	List of Attached Documents: // Content 1,079,218	993,330
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	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)	4,960,974	5,348,687	8,052,827
	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
		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........	4,960,974	5,348,687
	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).....	4,960,974	5,348,687
	30	Total liabilities and net assets/fund balances (see instructions).	4,960,974	5,348,687

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) ...............

4,960,974

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

389,657

Other increases not included in line 2 (itemize)

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

5,350,631

Decreases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

1,944

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

5,348,687

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	21. INTUITIVE SURGICAL INC		2014-03-18	2025-01-03
b	33. KKR CO INC A		2018-07-11	2025-01-03
c	10. S&P GLOBAL INC COM		2024-05-08	2025-01-03
d	52. AMER SPORTS INC COM		2024-12-05	2025-01-03
e	15. AMER SPORTS INC COM		2024-12-05	2025-01-06
	19. SERVICENOW INC COM USD0.001		2024-06-17	2025-01-08
	21. AMER SPORTS INC COM		2024-12-05	2025-01-08
	. PROCEEDS FROM SECURITIES LITIGATION			2025-01-09
	8. BERKSHIRE HATHAWAY INC COM USD0.0033		2024-01-03	2025-01-16
	40. BLACKSTONE INC		2024-02-05	2025-01-16
	32. MARVELL TECHNOLOGY INC COM		2024-06-17	2025-01-16
	48. AGILENT TECHNOLOGIES INC		2023-09-22	2025-01-24
	82. BAKER HUGHES COMPANY CL A		2024-10-17	2025-01-27
	27. BAKER HUGHES COMPANY CL A		2022-01-21	2025-01-27
	6. CONSTELLATION ENERGY CORP COM		2024-09-12	2025-01-27
	30. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-01-27
	226. MARVELL TECHNOLOGY INC COM		2024-09-10	2025-01-27
	54. BLACKSTONE INC		2020-03-12	2025-01-29
	48. KKR CO INC A		2022-11-07	2025-01-29
	17. BLACKSTONE INC		2020-03-12	2025-01-30
	28. BLACKSTONE INC		2020-03-12	2025-01-31
	264. DANAHER CORP		2012-06-26	2025-01-31
	317. FLUOR CORP NEW COM		2024-06-25	2025-02-18
	695. FLUOR CORP NEW COM		2024-06-25	2025-02-18
	. PROCEEDS FROM SECURITIES LITIGATION			2025-02-19
	9. APPLE COMPUTER INC.		2007-05-31	2025-02-24
	8. VISA INC COM CL A		2013-07-31	2025-02-24
	241. COGENT COMM HOLDINGS INC COM NEW		2024-10-08	2025-03-03
	30. J P MORGAN CHASE & CO		2024-09-12	2025-03-03
	33. AMER SPORTS INC COM		2024-12-05	2025-03-07
	63. AMER SPORTS INC COM		2024-03-06	2025-03-07
	83. CARMAX INC		2016-06-22	2025-03-10
	56. CARMAX INC		2016-06-22	2025-03-10
	51. T MOBILE US INC COM		2023-01-04	2025-03-10
	3. AMER SPORTS INC COM		2024-03-06	2025-03-10
	29. CARMAX INC		2016-02-16	2025-03-11
	37. AMER SPORTS INC COM		2024-03-06	2025-03-11
	105. ABBVIE INC		2025-01-31	2025-03-12
	71. CARMAX INC		2016-02-24	2025-03-12
	7. AMER SPORTS INC COM		2024-09-19	2025-03-12
	8. AMER SPORTS INC COM		2024-03-06	2025-03-12
	52. CARMAX INC		2016-02-11	2025-03-13
	1. AMER SPORTS INC COM		2024-09-19	2025-03-14
	36. T MOBILE US INC COM		2023-01-04	2025-03-17
	48. AMER SPORTS INC COM		2024-09-19	2025-03-17
	13. ASML HOLDING NV NY REG SHS A D R		2024-07-31	2025-03-17
	9. AMER SPORTS INC COM		2024-09-19	2025-03-18
	39. AMER SPORTS INC COM		2024-09-19	2025-03-19
	226. BAKER HUGHES COMPANY CL A		2022-01-21	2025-03-21
	204. BAKER HUGHES COMPANY CL A		2022-01-24	2025-03-24
	178. MICRON TECHNOLOGY INC		2024-12-17	2025-03-24
	190. BAKER HUGHES COMPANY CL A		2022-01-24	2025-03-25
	443. COGENT COMM HOLDINGS INC COM NEW		2024-12-31	2025-03-26
	9596.662 LAZARD CL LIST INFRASTR INST		2023-08-24	2025-03-26
	651. MARVELL TECHNOLOGY INC COM		2024-05-03	2025-03-26
	452. MICRON TECHNOLOGY INC		2025-02-19	2025-03-26
	32. THERMO ELECTRON CORP		2025-01-31	2025-04-07
	55. IDEXX LABORATORIES CORP		2024-09-12	2025-04-08
	35. THERMO ELECTRON CORP		2025-03-26	2025-04-10
	76. THERMO ELECTRON CORP		2014-11-19	2025-04-10
	41. AMERICAN INTERNATIONAL GROUP		2024-06-13	2025-04-16
	109. APPLE COMPUTER INC.		2007-05-31	2025-04-16
	12. BERKSHIRE HATHAWAY INC COM USD0.0033		2014-03-13	2025-04-16
	39. FERGUSON ENTERPRISES INC COM		2023-11-16	2025-04-16
	11. MASTERCARD INCORPORATED CL A		2014-03-05	2025-04-16
	11. PROGRESSIVE CORP		2023-07-14	2025-04-16
	25. T MOBILE US INC COM		2021-02-04	2025-04-16
	15. VISA INC COM CL A		2013-07-31	2025-04-16
	220. VERALTO CORP COM SHS		2024-11-12	2025-04-17
	72. LOWES COS INC		2018-12-13	2025-04-30
	93. ALPHABET INC CAP STK CL C		2015-02-12	2025-05-01
	43. ALPHABET INC CAP STK CL C		2009-06-05	2025-05-01
	123. LOWES COS INC		2018-12-13	2025-05-05
	56. VISA INC COM CL A		2013-07-31	2025-05-06
	12. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2021-12-30	2025-05-07
	11. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2021-12-29	2025-05-07
	7. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2021-12-28	2025-05-08
	10. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2021-12-28	2025-05-08
	18. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2021-12-29	2025-05-09
	31. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2020-08-10	2025-05-12
	12. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2020-08-04	2025-05-13
	5. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2020-08-04	2025-05-14
	14. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2020-08-04	2025-05-15
	26. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2022-06-29	2025-05-15
	29. BRIGHT HORIZONS FAMILY SOLUTIONS INC		2022-06-29	2025-05-16
	54. AGILENT TECHNOLOGIES INC		2023-10-30	2025-05-19
	21. AGILENT TECHNOLOGIES INC		2023-10-30	2025-05-19
	43. EDWARDS LIFESCIENCES CORP		2024-08-06	2025-05-19
	25. EDWARDS LIFESCIENCES CORP		2023-09-22	2025-05-19
	72. AGILENT TECHNOLOGIES INC		2020-03-20	2025-05-20
	52. ALPHABET INC CAP STK CL C		2025-03-26	2025-05-20
	11. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-05-20
	8. AGILENT TECHNOLOGIES INC		2020-03-20	2025-05-21
	10. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-05-29
	144. UBER TECHNOLOGIES INC		2023-08-24	2025-05-29
	2. BOOKING HOLDINGS INC COM		2025-01-16	2025-06-17
	19. APPLE COMPUTER INC.		2007-05-31	2025-06-20
	10. GE AEROSPACE COM NEW		2023-09-28	2025-06-20
	9. ALPHABET INC CAP STK CL C		2025-03-26	2025-06-23
	50. ALPHABET INC CAP STK CL C		2014-04-30	2025-06-23
	1. BOOKING HOLDINGS INC COM		2025-01-16	2025-06-23
	2. BOOKING HOLDINGS INC COM		2014-11-05	2025-06-23
	32. HEICO CORP NEW COM		2025-04-10	2025-06-23
	15. ACCENTURE PLC		2025-03-17	2025-06-23
	40. ACCENTURE PLC		2024-02-05	2025-06-23
	18. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-06-30
	27. HEICO CORP NEW COM		2025-04-10	2025-06-30
	17. MICROSOFT CORP.		2025-03-26	2025-06-30
	43. NVIDIA CORP COM		2024-11-12	2025-06-30
	13. ASML HOLDING NV NY REG SHS A D R		2024-08-27	2025-06-30
	27. ALPHABET INC CAP STK CL C		2014-04-30	2025-07-01
	22. ALPHABET INC CAP STK CL C		2009-06-25	2025-07-01
	20. BERKSHIRE HATHAWAY INC COM USD0.0033		2025-06-23	2025-07-01
	44. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-07-01
	61. NVIDIA CORP COM		2024-11-12	2025-07-01
	20. S&P GLOBAL INC COM		2025-06-23	2025-07-01
	46. APPLE COMPUTER INC.		2007-05-31	2025-07-16
	9. GE AEROSPACE COM NEW		2023-09-28	2025-07-16
	80. ASML HOLDING NV NY REG SHS A D R		2025-01-27	2025-07-22
	17. AUTODESK INC		2024-06-18	2025-07-25
	20. CARRIER GLOBAL CORPORATION COM		2024-05-06	2025-07-25
	15. CARRIER GLOBAL CORPORATION COM		2024-05-03	2025-07-25
	10. GE AEROSPACE COM NEW		2023-09-28	2025-07-25
	23. BLACKSTONE INC		2025-06-30	2025-07-30
	26. HEICO CORP NEW COM		2025-02-19	2025-07-30
	18. HEICO CORP NEW COM		2014-07-08	2025-07-30
	13. J P MORGAN CHASE & CO		2024-09-12	2025-07-30
	25. KKR CO INC A		2025-04-16	2025-07-30
	4. MICROSOFT CORP.		2025-03-26	2025-07-30
	27. MICROSOFT CORP.		2016-09-02	2025-07-30
	36. ILLUMINA INC COM		2024-10-04	2025-07-31
	33. BERKSHIRE HATHAWAY INC COM USD0.0033		2025-06-23	2025-08-11
	40. BERKSHIRE HATHAWAY INC COM USD0.0033		2024-01-03	2025-08-11
	6. MICROSOFT CORP.		2016-06-27	2025-08-11
	17. NVIDIA CORP COM		2024-11-12	2025-08-11
	16. FERGUSON ENTERPRISES INC COM		2023-11-15	2025-08-14
	27. ALPHABET INC CAP STK CL C		2009-06-25	2025-08-18
	16. CONSTELLATION ENERGY CORP COM		2023-12-11	2025-08-18
	11. MICROSOFT CORP.		2016-06-27	2025-08-18
	31. NVIDIA CORP COM		2024-11-12	2025-08-18
	198. FISERV INC		2025-07-01	2025-08-26
	27. ABBVIE INC		2025-04-30	2025-09-08
	17. ALPHABET INC CAP STK CL C		2009-06-25	2025-09-08
	23. BLACKSTONE INC		2025-06-30	2025-09-08
	7. J P MORGAN CHASE & CO		2024-09-12	2025-09-08
	13. J P MORGAN CHASE & CO		2017-04-13	2025-09-08
	292. MARVELL TECHNOLOGY INC COM		2025-06-20	2025-09-08
	7. S&P GLOBAL INC COM		2025-06-23	2025-09-08
	156. ACCENTURE PLC		2025-08-18	2025-09-11
	120. ACCENTURE PLC		2024-05-08	2025-09-11
	197. AMER SPORTS INC COM		2024-09-19	2025-09-22
	207. FISERV INC		2025-07-30	2025-09-24
	17. AMER SPORTS INC COM		2024-02-01	2025-09-29
	24. AMER SPORTS INC COM		2024-02-01	2025-10-01
	11. AMER SPORTS INC COM		2024-02-01	2025-10-02
	6. AMER SPORTS INC COM		2024-02-01	2025-10-03
	26. ABBVIE INC		2025-04-10	2025-10-13
	49. NVIDIA CORP COM		2024-10-08	2025-10-13
	125. UBER TECHNOLOGIES INC		2023-08-24	2025-10-13
	701. DRAFTKINGS INC NEW		2025-06-17	2025-10-30
	56. FISERV INC		2025-05-19	2025-10-30
	49. FISERV INC		2024-06-14	2025-10-30
	34. FISERV INC		2025-07-25	2025-10-30
	199. FISERV INC		2024-06-14	2025-10-30
	33. FISERV INC		2022-12-16	2025-10-30
	41. ALPHABET INC CAP STK CL C		2009-06-25	2025-11-11
	17. IDEXX LABORATORIES CORP		2025-02-19	2025-11-11
	12. IDEXX LABORATORIES CORP		2024-08-27	2025-11-11
	16. INTUITIVE SURGICAL INC		2025-03-26	2025-11-11
	23. S&P GLOBAL INC COM		2025-06-23	2025-11-11
	87. T MOBILE US INC COM		2025-05-20	2025-11-11
	780. DRAFTKINGS INC NEW		2025-05-05	2025-11-14
	29. ABBVIE INC		2025-04-10	2025-11-19
	6. ABBVIE INC		2024-04-18	2025-11-19
	5. ADOBE SYS INCORP		2024-04-17	2025-11-19
	10. ALIGN TECHNOLOGY INC		2025-01-24	2025-11-19
	26. ALPHABET INC CAP STK CL C		2009-06-05	2025-11-19
	9. ALPHABET INC CAP STK CL C		2009-06-25	2025-11-19
	28. ALPHABET INC CAP STK CL A		2009-05-06	2025-11-19
	48. AMAZON.COM INC		2025-03-26	2025-11-19
	37. AMAZON.COM INC		2025-10-28	2025-11-19
	35. AMERICAN INTERNATIONAL GROUP		2024-06-13	2025-11-19
	12. ANALOG DEVICES INC		2025-08-22	2025-11-19
	9. ELEVANCE HEALTH INC COM		2024-10-22	2025-11-19
	10. APPLE COMPUTER INC.		2007-05-31	2025-11-19
	8. AUTODESK INC		2024-04-26	2025-11-19
	69. BANK OF AMERICA CORPORATION		2025-04-16	2025-11-19
	14. BERKSHIRE HATHAWAY INC COM USD0.0033		2014-03-13	2025-11-19
	77. BLACKSTONE INC		2025-06-30	2025-11-19
	20. CANADIAN NATL RAILWAY CO		2024-05-06	2025-11-19
	59. CARRIER GLOBAL CORPORATION COM		2024-05-03	2025-11-19
	8. CINTAS CORP.		2025-07-01	2025-11-19
	8. COSTCO WHOLESALE CORPORATION		2025-03-26	2025-11-19
	8. DANAHER CORP		2024-01-04	2025-11-19
	47. EDWARDS LIFESCIENCES CORP		2024-08-06	2025-11-19
	15. META PLATFORMS INC CLASS A COMMON STOCK		2025-10-31	2025-11-19
	10. FERGUSON ENTERPRISES INC COM		2023-07-25	2025-11-19
	2. FIRST CTZNS BANCSHARES INC CL A		2021-02-11	2025-11-19
	32. AUTHUR J. GALLAGHER & CO.		2025-09-24	2025-11-19
	9. GE AEROSPACE COM NEW		2023-09-28	2025-11-19
	2. HEICO CORP NEW COM		2014-07-08	2025-11-19
	5. IDEXX LABORATORIES CORP		2025-02-19	2025-11-19
	18. ILLUMINA INC COM		2024-10-04	2025-11-19
	7. INTUIT INC.		2025-01-29	2025-11-19
	5. INTUITIVE SURGICAL INC		2025-03-26	2025-11-19
	26. J P MORGAN CHASE & CO		2017-04-13	2025-11-19
	3. KLA INSTRUMENTS CORP.		2024-11-25	2025-11-19
	28. KKR CO INC A		2025-04-16	2025-11-19
	30. KKR CO INC A		2022-11-09	2025-11-19
	8. LOWES COS INC		2014-03-13	2025-11-19
	21. MARVELL TECHNOLOGY INC COM		2025-03-11	2025-11-19
	15. MASTERCARD INCORPORATED CL A		2014-03-05	2025-11-19
	28. MICROSOFT CORP.		2008-11-05	2025-11-19
	42. MONDELEZ INTL INC CL A		2025-07-30	2025-11-19
	48. NVIDIA CORP COM		2025-01-31	2025-11-19
	2. NVIDIA CORP COM		2024-10-08	2025-11-19
	11. OLD DOMINION FREIGHT LINE INC COM		2025-03-28	2025-11-19
	12. PROGRESSIVE CORP		2023-07-14	2025-11-19
	1. S&P GLOBAL INC COM		2025-06-23	2025-11-19
	2. S&P GLOBAL INC COM		2024-05-08	2025-11-19
	35. CHARLES SCHWAB CORP.		2025-10-28	2025-11-19
	18. SERVICENOW INC COM USD0.001		2025-08-18	2025-11-19
	28. SUNCOR ENERGY INC NEW COM		2025-01-27	2025-11-19
	69. SUNCOR ENERGY INC NEW COM		2024-10-17	2025-11-19
	24. TJX COS INC		2021-10-28	2025-11-19
	10. T MOBILE US INC COM		2021-02-04	2025-11-19
	9. T MOBILE US INC COM		2025-05-20	2025-11-19
	34. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2025-04-16	2025-11-19
	2. TAIWAN SEMICONDUCTOR MFG CO LTD SPONSORED ADR		2024-01-25	2025-11-19
	66. UBER TECHNOLOGIES INC		2023-08-24	2025-11-19
	32. UBER TECHNOLOGIES INC		2024-07-12	2025-11-19
	6. UNITED RENTALS INC		2015-07-24	2025-11-19
	17. UNITEDHEALTH GROUP INC		2024-12-18	2025-11-19
	13. VISA INC COM CL A		2025-10-30	2025-11-19
	25. VISA INC COM CL A		2013-07-31	2025-11-19
	92. WASTE CONNECTIONS INC		2025-07-30	2025-11-19
	8. WORKDAY INC COM USD0.001 CL A		2024-09-10	2025-11-19
	94. AMER SPORTS INC COM		2025-11-18	2025-11-19
	25. LINDE PLC SHS		2025-07-22	2025-11-19
	16. LINDE PLC SHS		2024-11-12	2025-11-19
	103. NOMAD FOODS LIMITED ORD NPV (DI)		2023-01-26	2025-11-19
	10. SPOTIFY TECHNOLOGY S.A. COM EUR0.000625		2025-07-30	2025-11-19
	10. ASML HOLDING NV NY REG SHS A D R		2025-09-11	2025-11-19
	31. ADOBE SYS INCORP		2024-04-17	2025-11-25
	32. ADOBE SYS INCORP		2022-11-04	2025-11-26
	51. TJX COS INC		2021-10-28	2025-11-26
	57. KKR CO INC A		2018-09-04	2025-11-28
	13. NVIDIA CORP COM		2025-01-31	2025-11-28
	253. HEALTHEQUITY INC COM		2025-09-08	2025-12-08
	68. AMERICAN INTERNATIONAL GROUP		2024-01-05	2025-12-18
	2. FIRST CTZNS BANCSHARES INC CL A		2021-02-11	2025-12-18
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	11,195	1,000	10,195
b	4,986	866	4,120
c	4,975	4,291	684
d	1,523	1,196	327
e	456	345	111
	20,175	14,012	6,163
	639	483	156
	68		68
	3,677	2,899	778
	7,044	4,870	2,174
	3,816	2,301	1,515
	7,274	5,681	1,593
	3,579	3,023	556
	1,178	740	438
	1,740	1,144	596
	8,698	3,446	5,252
	24,244	15,904	8,340
	10,031	1,817	8,214
	8,002	2,508	5,494
	3,045	572	2,473
	5,007	942	4,065
	58,841	8,946	49,895
	12,610	14,058	-1,448
	27,743	30,821	-3,078
	155		155
	2,231	39	2,192
	2,802	352	2,450
	17,289	18,839	-1,550
	7,927	6,178	1,749
	873	759	114
	1,667	1,004	663
	6,149	3,906	2,243
	4,162	2,596	1,566
	13,756	7,078	6,678
	78	48	30
	2,121	1,335	786
	978	586	392
	22,270	19,080	3,190
	5,188	3,171	2,017
	194	105	89
	222	127	95
	3,617	2,220	1,397
	28	15	13
	9,380	4,540	4,840
	1,356	719	637
	9,524	12,187	-2,663
	259	135	124
	1,123	584	539
	9,950	6,192	3,758
	9,130	5,534	3,596
	17,416	19,259	-1,843
	8,547	5,054	3,493
	27,975	34,080	-6,105
	157,193	138,000	19,193
	43,047	44,552	-1,505
	41,251	46,830	-5,579
	14,029	19,408	-5,379
	21,241	27,048	-5,807
	14,695	18,746	-4,051
	31,910	9,489	22,421
	3,321	3,037	284
	21,150	473	20,677
	6,188	1,498	4,690
	6,314	6,495	-181
	5,643	860	4,783
	3,033	1,287	1,746
	6,506	3,241	3,265
	4,965	660	4,305
	19,690	22,840	-3,150
	15,982	6,672	9,310
	15,164	2,526	12,638
	7,011	433	6,578
	27,593	11,398	16,195
	19,502	2,463	17,039
	1,490	1,508	-18
	1,354	1,375	-21
	868	875	-7
	1,230	1,249	-19
	2,207	2,235	-28
	3,800	3,613	187
	1,472	1,333	139
	601	555	46
	1,686	1,555	131
	3,146	2,819	327
	3,603	2,445	1,158
	6,106	5,855	251
	2,376	1,829	547
	3,347	2,689	658
	1,946	1,742	204
	8,170	5,312	2,858
	8,603	8,763	-160
	3,211	1,264	1,947
	879	554	325
	3,035	1,149	1,886
	12,127	6,507	5,620
	10,761	9,770	991
	3,813	82	3,731
	2,392	889	1,503
	1,483	1,517	-34
	8,240	1,309	6,931
	5,336	4,885	451
	10,673	2,209	8,464
	10,170	7,942	2,228
	4,392	4,880	-488
	11,712	14,797	-3,085
	5,830	2,068	3,762
	8,813	6,014	2,799
	8,477	6,643	1,834
	6,784	6,367	417
	10,377	12,142	-1,765
	4,767	707	4,060
	3,884	228	3,656
	9,801	9,712	89
	13,554	5,054	8,500
	9,374	9,033	341
	10,589	10,277	312
	9,677	199	9,478
	2,391	801	1,590
	56,621	58,500	-1,879
	5,159	4,111	1,048
	1,614	1,265	349
	1,211	932	279
	2,714	889	1,825
	4,030	3,449	581
	8,477	5,766	2,711
	5,868	480	5,388
	3,889	2,677	1,212
	3,754	2,543	1,211
	2,051	1,563	488
	13,845	1,487	12,358
	3,711	5,087	-1,376
	15,332	16,024	-692
	18,584	14,373	4,211
	3,153	294	2,859
	3,113	2,517	596
	3,653	2,581	1,072
	5,503	279	5,224
	5,131	1,743	3,388
	5,674	539	5,135
	5,626	4,324	1,302
	27,286	34,155	-6,869
	5,619	5,105	514
	3,991	176	3,815
	3,969	3,438	531
	2,047	1,441	606
	3,802	1,101	2,701
	18,909	20,832	-1,923
	3,789	3,597	192
	37,896	44,180	-6,284
	29,151	35,461	-6,310
	6,985	2,801	4,184
	26,970	32,584	-5,614
	600	221	379
	839	312	527
	386	143	243
	213	78	135
	6,001	4,357	1,644
	9,190	6,487	2,703
	11,759	5,648	6,111
	21,039	25,573	-4,534
	3,684	9,812	-6,128
	3,223	7,249	-4,026
	2,210	4,794	-2,584
	12,934	21,461	-8,527
	2,178	3,255	-1,077
	11,937	424	11,513
	12,071	7,640	4,431
	8,520	5,816	2,704
	9,156	8,172	984
	11,450	11,818	-368
	18,441	21,826	-3,385
	22,709	26,560	-3,851
	6,708	4,860	1,848
	1,388	989	399
	1,596	2,371	-775
	1,337	2,331	-994
	7,688	262	7,426
	2,661	93	2,568
	8,267	283	7,984
	10,691	9,677	1,014
	8,231	8,549	-318
	2,643	2,450	193
	2,790	3,054	-264
	2,864	3,778	-914
	2,701	43	2,658
	2,340	1,747	593
	3,586	2,573	1,013
	7,012	1,748	5,264
	10,620	11,459	-839
	1,867	2,494	-627
	3,028	3,668	-640
	1,469	1,796	-327
	7,119	7,443	-324
	1,774	1,856	-82
	4,023	2,898	1,125
	8,809	9,037	-228
	2,383	1,605	778
	3,636	1,438	2,198
	7,937	9,765	-1,828
	2,711	801	1,910
	615	53	562
	3,487	2,247	1,240
	2,169	2,543	-374
	4,564	4,155	409
	2,830	2,554	276
	7,892	2,202	5,690
	3,509	1,917	1,592
	3,274	2,848	426
	3,508	1,566	1,942
	1,835	394	1,441
	1,710	1,419	291
	7,939	1,173	6,766
	13,648	654	12,994
	2,345	2,740	-395
	8,963	6,075	2,888
	373	265	108
	1,411	1,825	-414
	2,677	1,404	1,273
	492	514	-22
	984	858	126
	3,235	3,292	-57
	14,598	16,945	-2,347
	1,257	1,087	170
	3,096	2,680	416
	3,506	1,563	1,943
	2,116	1,296	820
	1,906	2,165	-259
	9,594	5,118	4,476
	564	234	330
	5,901	2,982	2,919
	2,862	2,330	532
	4,777	386	4,391
	5,235	8,512	-3,277
	4,203	4,472	-269
	8,082	1,099	6,983
	16,076	17,194	-1,118
	1,794	2,040	-246
	3,294	3,155	139
	10,338	11,608	-1,270
	6,616	7,300	-684
	1,255	1,929	-674
	6,184	6,519	-335
	10,348	8,063	2,285
	9,909	11,296	-1,387
	10,169	9,417	752
	7,821	3,322	4,499
	6,978	1,495	5,483
	2,301	1,612	689
	23,308	23,389	-81
	5,868	4,691	1,177
	4,210	1,436	2,774
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656
			283,656

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			10,195
b			4,120
c			684
d			327
e			111
			6,163
			156
			68
			778
			2,174
			1,515
			1,593
			556
			438
			596
			5,252
			8,340
			8,214
			5,494
			2,473
			4,065
			49,895
			-1,448
			-3,078
			155
			2,192
			2,450
			-1,550
			1,749
			114
			663
			2,243
			1,566
			6,678
			30
			786
			392
			3,190
			2,017
			89
			95
			1,397
			13
			4,840
			637
			-2,663
			124
			539
			3,758
			3,596
			-1,843
			3,493
			-6,105
			19,193
			-1,505
			-5,579
			-5,379
			-5,807
			-4,051
			22,421
			284
			20,677
			4,690
			-181
			4,783
			1,746
			3,265
			4,305
			-3,150
			9,310
			12,638
			6,578
			16,195
			17,039
			-18
			-21
			-7
			-19
			-28
			187
			139
			46
			131
			327
			1,158
			251
			547
			658
			204
			2,858
			-160
			1,947
			325
			1,886
			5,620
			991
			3,731
			1,503
			-34
			6,931
			451
			8,464
			2,228
			-488
			-3,085
			3,762
			2,799
			1,834
			417
			-1,765
			4,060
			3,656
			89
			8,500
			341
			312
			9,478
			1,590
			-1,879
			1,048
			349
			279
			1,825
			581
			2,711
			5,388
			1,212
			1,211
			488
			12,358
			-1,376
			-692
			4,211
			2,859
			596
			1,072
			5,224
			3,388
			5,135
			1,302
			-6,869
			514
			3,815
			531
			606
			2,701
			-1,923
			192
			-6,284
			-6,310
			4,184
			-5,614
			379
			527
			243
			135
			1,644
			2,703
			6,111
			-4,534
			-6,128
			-4,026
			-2,584
			-8,527
			-1,077
			11,513
			4,431
			2,704
			984
			-368
			-3,385
			-3,851
			1,848
			399
			-775
			-994
			7,426
			2,568
			7,984
			1,014
			-318
			193
			-264
			-914
			2,658
			593
			1,013
			5,264
			-839
			-627
			-640
			-327
			-324
			-82
			1,125
			-228
			778
			2,198
			-1,828
			1,910
			562
			1,240
			-374
			409
			276
			5,690
			1,592
			426
			1,942
			1,441
			291
			6,766
			12,994
			-395
			2,888
			108
			-414
			1,273
			-22
			126
			-57
			-2,347
			170
			416
			1,943
			820
			-259
			4,476
			330
			2,919
			532
			4,391
			-3,277
			-269
			6,983
			-1,118
			-246
			139
			-1,270
			-684
			-674
			-335
			2,285
			-1,387
			752
			4,499
			5,483
			689
			-81
			1,177
			2,774

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	736,381
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	11,091
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	11,091
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	11,091
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	7,312
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	7,312
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	3,779
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	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

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. $ (2) On foundation managers.$

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

on foundation managers.$

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 2025 or the taxable year beginning in 2025? 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

The books are in care ofLAURA BLEWETT Telephone no. (919) 388-5353

Located at713 ALLFORTH PLACECARYNC ZIP+427519

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 ........

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)

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)

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

1a(4)

Yes

(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 ........

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? .............

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 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

If "Yes," list the years 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 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.).....................

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 2025? ..

Form 990-PF (2025)

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 .........

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-)
STEVENS VAN STRUM	PRESIDENT 1	0
PO BOX 5876 EUGENE,OR04843	PRESIDENT 1	0
LAURA H BLEWETT	SECRETARY 1	1,000
713 ALLFORTH PLACE CARY,NC27519	SECRETARY 1	1,000
CECILIA VAN STRUM NOBEL	TRUSTEE 1	1,000
7718 BLOOMFIELD ROAD EASTON,MD21601	TRUSTEE 1	1,000
ROBERT NOEL	TRUSTEE 1	4,000
7718 BLOOMFIELD ROAD EASTON,MD21601	TRUSTEE 1	4,000

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)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3.........................

Form 990-PF (2025)

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...................

7,851,510

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

184,981

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

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

8,036,491

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.........................

8,036,491

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

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

120,547

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

7,915,944

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

395,797

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.)

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

395,797

Tax on investment income for 2025 from Part V, line 5 .......

11,091

Income tax for 2025. (This does not include the tax from Part V.) ...

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

11,091

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

384,706

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

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

384,706

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

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

384,706

Part XI

Qualifying Distributions (see instructions)

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

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

402,499

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. .......

402,499

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					384,706
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2025:
a From 2020......	0
b From 2021......	0
c From 2022......	0
d From 2023......	0
e From 2024......	13,042
f Total of lines 3a through e ........		13,042
4Qualifying distributions for 2025 from Part
XI, line 4: $ 402,499
a Applied to 2024, 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 2025 distributable amount.....					384,706
e Remaining amount distributed out of corpus		17,793
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		30,835
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 ..........					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 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 ......		30,835
10 Analysis of line 9:
a Excess from 2021 ....	0
b Excess from 2022 ....	0
c Excess from 2023 ....	0
d Excess from 2024 ....	13,042
e Excess from 2025 ....	17,793

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 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) 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

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 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)

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
YMCA OF THE CHESAPEAKE 202 PEACH BLOSSOM LANE EASTON,MD21601	NONE		PROGRAM SUPPORT	25,000
MID-SHORE COMMUNITY FOUNDATION 102 E DOVER STREET EASTON,MD21601	NONE		PROGRAM SUPPORT	5,000
THE BERRY CENTER PO BOX 582 New Castle,KY40050	NONE		PROGRAM SUPPORT	10,000
CHANNEL MARKER INC 8865 GLEBE PARK DR UNIT 1 EASTON,MD21601	NONE		PROGRAM SUPPORT	25,000
HISTORICAL SOCIETY OF TALBOT COUNTY 30 S WASHINGTON ST EASTON,MD21601	NONE		PROGRAM SUPPORT	10,000
FOR ALL SEASONS 300 TALBOT STREET EASTON,MD21601	NONE		PROGRAM SUPPORT	50,000
MCKENZIE RIVER TRUST 725 W 1ST AVE EUGENE,OR97402	NONE		PROGRAM SUPPORT	10,000
CARPE DIEM ARTS 9207 LONG BRANCH SILVER SPRING,MD20901	NONE		PROGRAM SUPPORT	10,000
TALBOT INTERFAITH SHELTER 107 GOLDSBOROUGH ST EASTON,MD21601	NONE		PROGRAM SUPPORT	20,000
ALLEGRO ACADEMY 114 N WASHINGTON ST EASTON,MD21601	NONE		PROGRAM SUPPORT	22,000
MACULAR DEGENERATION ASSOCIATION 5969 CATTLERIDGE ROAD STE 100 Sarasota,FL34242	NONE		PROGRAM SUPPORT	7,500
ON THIS SPOT 24 WEST 90TH ST 2 New York,NY10024	NONE		PROGRAM SUPPORT	25,000
MODERN WARRIORS LIVE PO BOX 5683 Cleveland,OH44101	NONE		PROGRAM SUPPORT	25,000
CHESAPEAKE BAY MARITIME MUSEUM 213 N TALBOT ST ST MICHAELS,MD21663	NONE		PROGRAM SUPPORT	30,000
TALBOT HOSPICE FOUNDATION INC 586 CYNWOOD DR EASTON,MD21601	NONE		PROGRAM SUPPORT	5,000
CRITCHLOW ADKINS CHILDREN CENTER 11 MAGNOLIA ST PO BOX 2950 EASTON,MD21601	NONE		PROGRAM SUPPORT	45,000
MID ATLANTIC SYMPHONY ORCHESTRA 1810 N PHILADELPHIA AVENUE OCEAN CITY,MD21842	NONE		PROGRAM SUPPORT	32,500
ACADEMY OF THE ARTS MUSEUM 106 SOUTH STREET EASTON,MD21601	NONE		ENDOWMENT CIRCLE PLEDGE	20,000
CHESAPEAKE MUSIC PO BOX 461 EASTON,MD21601	NONE		PROGRAM SUPPORT	18,000
Total ................................. 3a				395,000

bApproved for future payment

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

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	(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 ...........
4 Dividends and interest from securities ....			14	104,150
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	736,381
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) ..				840,531

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

840,531

(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 (2025)

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	Preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2025)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Stock	End of Year Book Value	End of Year Fair Market Value
COMMON STOCK	1,695,403	3,839,104
MUTUAL FUNDS	1,849,332	2,293,211
FOREIGN STOCK	397,642	600,090

Category	Amount	Net Investment Income
FOREIGN TAXES	1,165	1,165
QUARTERLY TAX DEPOSIT	7,097	0
FOREIGN TAXES ON QUALIFIED FOR	724	724
FOREIGN TAXES ON NONQUALIFIED	232	232