Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2025
Open to Public Inspection
For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25
Name of foundation
THE KANGESSER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 912 DEDHAM STREET
  Room/suite
City or town
NEWTON
State or province
MA
Country  
ZIP or foreign postal code
02459
A Employer identification number

34-6529478
B Telephone number (see instructions)

6179285353
C
G Check all that apply:

D 1. Foreign organizations, check here.............
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
H Check type of organization:
F
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$3,711,844J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check .................
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 59,967 59,967  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 334,421
b Gross sales price for all assets on line 6a 1,050,482
7 Capital gain net income (from Part IV, line 2)... 334,421
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
385 210  
12 Total. Add lines 1 through 11........ 394,773 394,598  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,250 163   3,087
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
8,993 1,021   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
29,509 29,039   470
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 41,752 30,223   3,557
25 Contributions, gifts, grants paid....... 203,000 203,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 244,752 30,223   206,557
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 150,021
b Net investment income (if negative, enter -0-) 364,375
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2025)
Form 990-PF (2025)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 62,644 33,742 33,742
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) 132,317 Click to see attachment
List of Attached Documents:
// Content
172,239 		172,239
b Investments—corporate stock (attach schedule)....... 2,970,296 Click to see attachment
List of Attached Documents:
// Content
3,284,627 		3,284,627
c Investments—corporate bonds (attach schedule)....... 105,866 Click to see attachment
List of Attached Documents:
// Content
141,014 		141,014
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 80,143 Click to see attachment
List of Attached Documents:
// Content
80,222 		80,222
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) 3,351,266 3,711,844 3,711,844
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe )    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 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 3,351,266 3,711,844
29 Total net assets or fund balances (see instructions)..... 3,351,266 3,711,844
30 Total liabilities and net assets/fund balances (see instructions). 3,351,266 3,711,844
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,351,266
2
Enter amount from Part I, line 27a .....................
2
150,021
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
210,557
4
Add lines 1, 2, and 3 ..........................
4
3,711,844
5
Decreases not included in line 2 (itemize)
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
3,711,844
Form 990-PF (2025)
Form 990-PF (2025)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PRIVATE TRUST ST TRANSACTIONS   2024-10-07 2025-01-29
b PRIVATE TRUST LT TRANSACTIONS   2020-02-07 2025-01-29
c MERRILL LYNCH ST TRANSACTIONS   2025-04-09 2025-12-11
d MERRILL LYNCH LT TRANSACTIONS   2019-09-10 2025-12-11
e CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 83,758   93,020 -9,262
b 311,813   175,569 136,244
c 152,707   162,971 -10,264
d 502,204   284,576 217,628
e 75     75
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       -9,262
b       136,244
c       -10,264
d       217,628
e       75
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 334,421
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ......................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 5,065
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 5,065
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 5,065
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 4,400
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 4,400
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....... 9 665
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.
Form 990-PF (2025)
Form 990-PF (2025)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. $ 0(2) On foundation managers.$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
OH, MA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressN/A
14
The books are in care ofHEDY KANGESSER ADLER Telephone no. (617) 928-5353

Located at912 DEDHAM STREETNEWTONMA ZIP+402459
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........
and enter the amount of tax-exempt interest received or accrued during the year ........
15
 
16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
Form 990-PF (2025)
Form 990-PF (2025)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2025? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2025?....................
2a
 
No
If "Yes," list the years 20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine
if the foundation had excess business holdings in 2025.).....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..
4b
 
No
Form 990-PF (2025)
Form 990-PF (2025)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
HEDY KANGESSER ADLER PRESIDENT/TREASURER
2.00 		0 0 0
912 DEDHAM STREET
NEWTON,MA02459
DAVID F ADLER SECRETARY
2.00 		0 0 0
912 DEDHAM STREET
NEWTON,MA02459
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000................... 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................0
Form 990-PF (2025)
Form 990-PF (2025)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
3,407,112
b
Average of monthly cash balances.......................
1b
188,881
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
3,595,993
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
3,595,993
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
53,940
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
3,542,053
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
177,103
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
177,103
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
5,065
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
5,065
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
172,038
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
172,038
6
Deduction from distributable amount (see instructions) .................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
172,038
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........
1a
206,557
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
206,557
Form 990-PF (2025)
Form 990-PF (2025)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2024 		(c)
2024 		(d)
2025
1 Distributable amount for 2025 from Part X, line 7 172,038
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...... 43,330
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024...... 74,014
f Total of lines 3a through e ........ 117,344
4Qualifying distributions for 2025 from Part
XI, line 4: $ 206,557
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..... 172,038
e Remaining amount distributed out of corpus 34,519
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 5 151,863
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) ... 		43,330
9 Excess distributions carryover to 2026.
Subtract lines 7 and 8 from line 6a ...... 		108,533
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 .... 74,014
e Excess from 2025 .... 34,519
Form 990-PF (2025)
Form 990-PF (2025)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2025 (b) 2024 (c) 2023 (d) 2022
         
b 85% (0.85) of line 2a .......          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, 3b, or 3c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2025)
Form 990-PF (2025)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

BRIGHAM AND WOMEN'S HOSPITAL

116 HUNTINGTON AVENUE
BOSTON,MA02116 		    CHARITABLE, CARDIOVASCULAR MEDICINE SUPPORT 7,500

COMBINED JEWISH PHILANTHROPIES OF GREATER BOSTON INC

126 HIGH STREET
BOSTON,MA02110 		    CHARITABLE SUPPORT 55,000

HATHAWAY BROWN SCHOOL

19600 NORTH PARK BOULEVARD
SHAKER HEIGHTS,OH44122 		    CHARITABLE ANNUAL FUND AND BUILDING FUND GENERAL SUPPORT 5,000

HEBREW ACADEMY OF CLEVELAND

1800 WARRENSVILLE CENTER ROAD
CLEVELAND HEIGHTS,OH44121 		    CHARITABLE SUPPORT 57,500

JEWISH FAMILY & CHILDREN'S SERVICES

1430 MAIN STREET
WALTHAM,MA02451 		    GENERAL CHARITABLE SUPPORT 23,000

JEWISH FEDERATION OF CLEVELAND

25701 SCIENCE PARK DRIVE
CLEVELAND,OH44122 		    CHARITABLE CAMPAIGN FOR JEWISH NEEDS 5,000

JOSEPH AND FLORENCE MANDEL JEWISH DAY SCHOOL

26500 SHAKER BLVD
BEACHWOOD,OH44122 		    CAPITAL FUND AND ANNUAL FUND SUPPORT 50,000
Total ................................. 3a 203,000
bApproved for future payment
Total ................................. 3b 0
Form 990-PF (2025)
Form 990-PF (2025)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 59,967  
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 .....     14 210  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 334,421  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aTAX REFUND 		        175
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 394,598 175
13Total. Add line 12, columns (b), (d), and (e)..................
13
394,773
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
11A TAX REFUND RECEIVED IN THE NORMAL COURSE OF FOUNDATION BUSINESS
Form 990-PF (2025)
Form 990-PF (2025)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Preparer's name Preparer's Signature Date Check if self-
employed 		PTIN
Firm's name
Firm's EIN
Firm's address


Phone no.
Form 990-PF (2025)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2025 AccountingFeesSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 3,250 163   3,087

TY 2025 InvestmentsCorpBondsSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Name of Bond End of Year Book Value End of Year Fair Market Value
PTC - DOUBLELINE TOTAL RETURN BOND FUND CLASS I 18,408 18,408
PTC - FEDERATED HIGH YIELD BOND FUND 11,895 11,895
PTC - VANGUARD INTER-TERM INV GRADE ADM 46,176 46,176
PTC - INVESCO EXCHANGE TAXABLE MUNICIPAL BOND 18,659 18,659
PTC - ISHARES TRUST LEHMAN AGENCY BOND FUND 27,563 27,563
PTC - SPDR BARCLAYS INTERMEDIATE TERM ETF 18,313 18,313

TY 2025 InvestmentsCorpStockSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Name of Stock End of Year Book Value End of Year Fair Market Value
ML 2560 - ABBVIE INC 19,650 19,650
ML 2560 - AGNICO EAGLE MINES LTD 6,951 6,951
ML 2560 - ALPHABET INC 61,974 61,974
ML 2560 - AMAZON COM INC 29,545 29,545
ML 2560 - AMPHENOL CORP 22,433 22,433
ML 2560 - APPLE INC 79,927 79,927
ML 2560 - BANK NEW YORK MELLON 17,181 17,181
ML 2560 - BLACKROCK INC 22,477 22,477
ML 2560 - BOSTON SCIENTIFIC 14,398 14,398
ML 2560 - BROADCOM INC 31,495 31,495
ML 2560 - CENCORA INC 11,484 11,484
ML 2560 - CONOCOPHILLIPS 8,706 8,706
ML 2560 - COSTCO WHOLESALE CORP 17,247 17,247
ML 2560 - DELL TECHNOLOGIES INC 16,742 16,742
ML 2560 - DICKS SPORTING GOODS INC 8,711 8,711
ML 2560 - ELI LILLY & CO 30,091 30,091
ML 2560 - ENTERGY CORP 12,755 12,755
ML 2560 - EXXON MOBIL CORP 27,437 27,437
ML 2560 - FERRARI NV 11,087 11,087
ML 2560 - GOLDMAN SACHS GROUP INC 21,975 21,975
ML 2560 - HILTON WORLDWIDE 10,054 10,054
ML 2560 - HOME DEPOT INC 15,140 15,140
ML 2560 - HOWMET AEROSPACE INC 16,812 16,812
ML 2560 - JOHNSON CONTROLS INTER 15,568 15,568
ML 2560 - JP MORGAN CHASE & CO 37,055 37,055
ML 2560 - LIVE NATION ENT INC 8,550 8,550
ML 2560 - MARTIN MARIETTA MATLS 14,944 14,944
ML 2560 - META PLATFORMS INC 22,443 22,443
ML 2560 - MICROSOFT CORP 73,994 73,994
ML 2560 - NETFLIX COM INC 17,439 17,439
ML 2560 - NVIDIA 72,922 72,922
ML 2560 - PALO ALTO NETWORKS INC 17,683 17,683
ML 2560 - PARKER HANNIFIN CORP 30,764 30,764
ML 2560 - PROCTER & GAMBLE CO 14,044 14,044
ML 2560 - PROGRESSIVE CRP OHIO 11,386 11,386
ML 2560 - ROSS STORES INC 20,536 20,536
ML 2560 - S&P GLOBAL INC 16,200 16,200
ML 2560 - TESLA INC 17,089 17,089
ML 2560 - THERMO FISHER SCIENTIFIC 16,225 16,225
ML 2560 - UNION PACIFIC CORP 12,260 12,260
ML 2560 - VERIZON COMMUNICATIONS COM 13,889 13,889
ML 2560 - VISA INC 26,654 26,654
ML 2560 - WALMART INC 27,184 27,184
ML 2560 - WELLTOWER INC 17,447 17,447
ML 2560 - WSTN DIGITAL CORP 17,571 17,571
ML 2561 - ALPHABET INC 46,637 46,637
ML 2561 - AMAZON COM INC 37,393 37,393
ML 2561 - APPLE INC 59,538 59,538
ML 2561 - APPLOVIN CORP 10,781 10,781
ML 2561 - ASTRAZENECA PLC 3,861 3,861
ML 2561 - AXON ENTERPRISES INC 5,679 5,679
ML 2561 - BOEING COMPANY 5,862 5,862
ML 2561 - BOSTON SCIENTIFIC GROUP 9,154 9,154
ML 2561 - BROADCOM INC 37,379 37,379
ML 2561 - CLOUDFLARE INC 5,717 5,717
ML 2561 - COCA COLA COM 9,717 9,717
ML 2561 - CONSTELLATION ENERGY 6,006 6,006
ML 2561 - COSTCO WHOLESALE CORP 10,348 10,348
ML 2561 - DELL TECHNOLOGIES INC 5,413 5,413
ML 2561 - DOLLAR GENERAL CORP 7,701 7,701
ML 2561 - ELI LILLY & CO 20,419 20,419
ML 2561 - EMERSON ELEC CO 1,725 1,725
ML 2561 - FERRARI NV 5,174 5,174
ML 2561 - GE AEROSPACE 4,312 4,312
ML 2561 - GENL DYNAMICS CORP 3,367 3,367
ML 2561 - INTUITIVE SURGICAL INC 7,929 7,929
ML 2561 - LAM RESH CORP 10,784 10,784
ML 2561 - LINDE PLC 4,690 4,690
ML 2561 - MASTERCARD INC 6,851 6,851
ML 2561 - META PLATFORMS INC 23,763 23,763
ML 2561 - MICROSOFT CORP 73,510 73,510
ML 2561 - NETFLIX COM INC 3,188 3,188
ML 2561 - NVIDIA 87,842 87,842
ML 2561 - ORACLE CORP 5,847 5,847
ML 2561 - PROGRESSIVE CRP OHIO 6,832 6,832
ML 2561 - QUANTA SERVICES INC 5,909 5,909
ML 2561 - SAP SE SHS 3,158 3,158
ML 2561 - SERVICENOW INC 6,587 6,587
ML 2561 - SHOPIFY INC 6,278 6,278
ML 2561 - SNOWFLAKE INC 5,703 5,703
ML 2561 - SPOTIFY TECH 5,807 5,807
ML 2561 - TAKE TWO INTER SOFTWARE 7,169 7,169
ML 2561 - TESLA INC 16,190 16,190
ML 2561 - TJX COS INC 7,066 7,066
ML 2561 - TOPBUILD CORP 7,092 7,092
ML 2561 - UBER TECHNOLOGIES INC 5,148 5,148
ML 2561 - WELLTOWER INC 10,023 10,023
ML 2561 - WORKDAY INC 4,296 4,296
ML 2561 - WSTN DIGITAL CORP 10,336 10,336
PTC - ABBVIE INC 24,905 24,905
PTC - ALPHABET INC CLASS A 56,027 56,027
PTC - AMAZON.COM INC 33,700 33,700
PTC - APPLE INC 51,653 51,653
PTC - ARISTA NETWORKS INC 26,730 26,730
PTC - BANK OF AMERICA CORP 9,075 9,075
PTC - BLACKROCK INC 13,915 13,915
PTC - BOOKING HOLDINGS IND 10,711 10,711
PTC - BROADCOM INC 49,146 49,146
PTC - COSTCO WHOLESALE CORP 18,971 18,971
PTC - CROWDSTRIKE HOLDINGS INC 18,750 18,750
PTC - DANAHER CORP 13,735 13,735
PTC - ELI LILLY & CO 23,643 23,643
PTC - EQUIFAX INC 9,547 9,547
PTC - EXXON MOBIL CORP 15,283 15,283
PTC - HOME DEPOT INC 14,452 14,452
PTC - JPMORGAN CHASE & CO 27,389 27,389
PTC - MASTERCARD INC 15,414 15,414
PTC - META PLATFORMS INC 26,404 26,404
PTC - MICROSOFT CORP 46,428 46,428
PTC - NASDAQ OMX GROUP INC 21,563 21,563
PTC - NETFLIX INC 6,563 6,563
PTC - NVIDIA CORP 54,831 54,831
PTC - O'REILLY AUTOMOTIVE INC 9,303 9,303
PTC - ORACLE CORP 20,271 20,271
PTC - PARKER HANNIFIN CORP 17,579 17,579
PTC - SHERWIN WILLIAMS CO 11,341 11,341
PTC - SIMON PROPERTY GROUP INC 12,402 12,402
PTC - THE BLACKSTONE GROUP 13,410 13,410
PTC - TRANSDIGM GROUP INC 14,628 14,628
PTC - UBER TECHNOLOGIES INC 14,953 14,953
PTC - WAL-MART STORES INC 14,818 14,818
PTC - WELLS FARGO 18,361 18,361
PTC - DRIEHAUS EMERGING MARKET GROWTH INSTL 51,414 51,414
PTC - COMMUNICATION SERVICES SELECT 4,002 4,002
PTC - ETF SCHWAB EMERGING MARKET 72,410 72,410
PTC - IQ HEDGE MULTIIQ HEDGE MULTI-ST 65,311 65,311
PTC - ISHARES MSCI CANADA INDEX 32,088 32,088
PTC - ISHARES S&P 500 INDEX FD 83,563 83,563
PTC - ISHARES TR S&P 500 VALUE INDEX FUND 5,302 5,302
PTC - ISHARES TR S&P MIDCAP 400 GROWTH INDEX FUND 29,452 29,452
PTC - ISHARES TR S&P MIDCAP 400 INDEX FUND 10,296 10,296
PTC - ISHARES TR S&P SMALLCAP 600 GROWTH INDEX FUND 17,222 17,222
PTC - ISHARES TR S&P SMALLCAP 600 INDEX 82,083 82,083
PTC - JP MORGAN INVESTMENT MANAGEMENT 1,521 1,521
PTC - JP MORGAN EXCHANGE - TRADED FD BETABUILDERS 8,277 8,277
PTC - SCHWAB U.S. MID-CAP ETF 113,484 113,484
PTC - SELECT SECTOR SPDR TR FIN 7,449 7,449
PTC - SELECT SECTOR SPDR TR TECHNOLOGY 2,879 2,879
PTC - VANGUARD MSCI EUROPEAN ETF 182,771 182,771
PTC - VANGUARD PACIFIC ETF 98,807 98,807
PTC - CARNIVAL CORP 16,095 16,095

TY 2025 InvestmentsGovtObligationsSch
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
US Government Securities - End of Year Book Value:

172,239
US Government Securities - End of Year Fair Market Value:

172,239
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2025 InvestmentsOtherSchedule2
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ML 2559 - CD WELLS FARGO BANK FMV 40,008 40,008
ML 2559 - CD WELLS FARGO BANK FMV 40,214 40,214

TY 2025 OtherExpensesSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT AND BROKERAGE FEES 29,039 29,039   0
STATE FILING FEES 470 0   470


TY 2025 OtherIncomeSchedule2
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
SETTLEMENT PROCEEDS 210 210 210
TAX REFUND 175   175


TY 2025 OtherIncreasesSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Description Amount
UNREALIZED APPRECIATION/DEPRECIATION NOT BOOKED TO P/L 210,557


TY 2025 TaxesSchedule
Name:
THE KANGESSER FOUNDATION
EIN:
34-6529478
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES PAID 1,021 1,021   0
FEDERAL TAXES 7,972 0   0