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
MICHAEL W LOUIS PRIVATE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address) 410 HUNT CLUB WAY
  Room/suite
City or town
LAKE GENEVA
State or province
WI
Country  
ZIP or foreign postal code
53147
A Employer identification number

81-3941498
B Telephone number (see instructions)

2623843700
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)$15,659,400J 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 2,336 2,336  
4 Dividends and interest from securities... 896,014 716,397  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 457,021
b Gross sales price for all assets on line 6a 3,460,335
7 Capital gain net income (from Part IV, line 2)... 457,021
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).......      
12 Total. Add lines 1 through 11........ 1,355,371 1,175,754  
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)......... Click to see attachment
List of Attached Documents:
// Content
11,139 11,139   0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
73,879 73,879   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
70,064 4,061   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
32,306 32,306   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 187,388 121,385   0
25 Contributions, gifts, grants paid....... 775,000 775,000
26 Total expenses and disbursements. Add lines 24 and 25 ................ 962,388 121,385   775,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 392,983
b Net investment income (if negative, enter -0-) 1,054,369
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............. 255,461 215,384 215,384
2 Savings and temporary cash investments.........      
3 Accounts receivable  
Less: allowance for doubtful accounts        
4 Pledges receivable  
Less: allowance for doubtful accounts        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule)  
Less: allowance for doubtful accounts        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 2,260,086 Click to see attachment
List of Attached Documents:
// Content
2,090,021 		3,823,719
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis  
Less: accumulated depreciation (attach schedule)        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 5,380,523 Click to see attachment
List of Attached Documents:
// Content
5,982,195 		11,620,297
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) 7,896,070 8,287,600 15,659,400
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........ 5,952,838 5,952,844
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 1,943,232 2,334,756
29 Total net assets or fund balances (see instructions)..... 7,896,070 8,287,600
30 Total liabilities and net assets/fund balances (see instructions). 7,896,070 8,287,600
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
7,896,070
2
Enter amount from Part I, line 27a .....................
2
392,983
3
Other increases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
3
24,846
4
Add lines 1, 2, and 3 ..........................
4
8,313,899
5
Decreases not included in line 2 (itemize) Click to see attachment
List of Attached Documents:
// Content
5
26,299
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..
6
8,287,600
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 MICHAEL W LOUIS CO SHRT TRM CAP     2025-12-31
b MICHAEL W LOUIS CO LONG TRM CAP LOSS     2025-12-31
c MWL HOLDINGS LP SHRT TRM CAP LOSS     2025-12-31
d MWL HOLDINGS LP LONG TRM CAP LOSS     2025-12-31
e MS 970 PUBLICLY TRADED SECURITIES     2025-12-31
MS 594 PUBLICLY TRADED SECURITIES     2025-12-31
MS 816 PUBLICLY TRADED SECURITIES     2025-12-31
MS 262 PUBLICLY TRADED SECURITIES     2025-12-31
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       0
b     187 -187
c 2     2
d     557 -557
e 2,078,314   1,768,485 313,473
480,054   486,005 -5,951
308,683   248,474 60,209
535,358   509,159 32,108
57,924     57,924
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       0
b       -187
c       2
d       -557
e       313,473
      -5,951
      60,209
      32,108
      57,924
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 2 457,021
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 14,656
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 14,656
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 14,656
6 Credits/Payments:
a 2025 estimated tax payments and 2024 overpayment credited to 2025 6a 39,227
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 39,227
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid... 10 24,571
11 Enter the amount of line 10 to be: Credited to 2026 estimated tax24,571 Refunded 11 0
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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
 
No
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)
WI
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 ofWALTER W BELL Telephone no. (262) 384-3700

Located atBELL ANDERSON LLC 410 HUNT CLUB WAYLAKE GENEVAWI ZIP+453147
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)
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)
 
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
CARRIE L HULBURD PRESIDENT
0.00 		0 0 0
C/O 410 HUNT CLUB WAY
LAKE GENEVA,WI53147
HENRY J LOUIS VICE PRESIDENT
0.00 		0 0 0
C/O 410 HUNT CLUB WAY
LAKE GENEVA,WI53147
STEVEN S LOUIS TREASURER
0.00 		0 0 0
C/O 440 S LASALLE ST 38TH FL
CHICAGO,IL60605
TIMOTHY C LOUIS SECRETARY
0.00 		0 0 0
C/O 410 HUNT CLUB WAY
LAKE GENEVA,WI53147
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
15,247,884
b
Average of monthly cash balances.......................
1b
137,322
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, 1b, and 1c).......................
1d
15,385,206
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
15,385,206
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
230,778
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
15,154,428
6
Minimum investment return. Enter 5% (0.05) of line 5 ................
6
757,721
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
757,721
2a
Tax on investment income for 2025 from Part V, line 5 .......
2a
14,656
b
Income tax for 2025. (This does not include the tax from Part V.) ...
2b
29,686
c
Add lines 2a and 2b............................
2c
44,342
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
713,379
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
713,379
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
713,379
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
775,000
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
775,000
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 7 713,379
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......  
b From 2021......  
c From 2022......  
d From 2023......  
e From 2024...... 15,340
f Total of lines 3a through e ........ 15,340
4Qualifying distributions for 2025 from Part
XI, line 4: $ 775,000
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..... 713,379
e Remaining amount distributed out of corpus 61,621
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 76,961
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 ...... 		76,961
10 Analysis of line 9:
a Excess from 2021 ....  
b Excess from 2022 ....  
c Excess from 2023 ....  
d Excess from 2024 .... 15,340
e Excess from 2025 .... 61,621
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

BARROW NEUROLOGICAL FOUNDATION

124 WEST THOMAS ROAD SUITE 250
PHOENIX,AZ85013 		N/A   GENERAL CONTRIBUTION 10,000

CHEQUAMEGON AREA MOUNTAIN BIKE ASSOCIATION

PO BOX 141
CABLE,WI54821 		N/A   GENERAL CONTRIBUTION 10,000

COLORADO COLLEGE

14 E CASHE LA POUDRE STREE
COLORADO SPRINGS,CO80903 		N/A   GENERAL CONTRIBUTION 90,000

DENVER ZOOLOGICAL FOUNDATION

2300 STEELE STREET
DENVER,CO80205 		N/A   GENERAL CONTRIBUTIONS 10,000

DESERT BOTANICAL GARDENS

1201 GALVIN PARKWAY
PHOENIX,AZ85008 		N/A   GENERAL CONTRIBUTION 10,000

DESERT VOICES

3426 E SHEA BLVD
PHOENIX,AZ85028 		N/A   GENERAL CONTRIBUTION 50,000

FOUNDATION FIGHTING BLINDNESS

6925 OAKLAND MILLS ROAD 701
COLUMBIA,MD21045 		N/A   GENERAL CONTRIBUTION 40,000

GRALAND COUNTRY DAY SCHOOL

55 CLERMONT STREET
DENVER,CO80220 		N/A   GENERAL CONTRIBUTIONS 10,000

LAKE OWEN ASSOCIATION

PO BOX 132
CABLE,WI54821 		N/A   GENERAL CONTRIBUTION 29,000

NATIONAL LOUIS UNVERSITY

122 S MICHIGAN AVE
CHICAGO,IL60603 		N/A   GENERAL CONTRIBUTION 100,000

NEW CANAAN COMMUNITY FUND

111 CHERRY STREET
NEW CANAAN,CT06840 		N/A   GENERAL CONTRIBUTIONS 11,250

NEW CANAAN LIBRARY

151 MAIN STREET
NEW CANAAN,CT06840 		N/A   GENERAL CONTRIBUTION 11,250

PARK CITY COMMUNITY FOUNDATION

PO BOX 681499
PARK CITY,UT84068 		N/A   GENERAL CONTRIBUTION 50,000

PHOENIX COUNTRY DAY SCHOOL

3901 E STANFORD DRIVE
PARADISE VALLEY,AZ85253 		N/A   GENERAL CONTRIBUTION 22,500

RYE NATURE CENTER

873 BOSTON POST RD
RYE,NY10580 		N/A   GENERAL CONTRIBUTION 15,000

STEP - STUDENT EXPEDITION PROGRAM

5021 N 20TH STREET 10782
PHOENIX,AZ85016 		N/A   GENERAL CONTRIBUTION 5,000

THE FIRST TEE OF PHOENIX

3837 E WEIR AVE 7
PHOENIX,AZ85040 		N/A   GENERAL CONTRIBUTION 45,000

THERE WITH CARE

2401 SOUTH COLORADO BLVD SUITE A
DENVER,CO80222 		N/A   GENERAL CONTRIBUTION 5,000

TRANSLATION GENOMICS

445 N FIFTH STREET
PHOENIX,AZ85004 		N/A   GENERAL CONTRIBUTION 10,000

UC SAN DIEGO FOUNDATION

9500 GILMAN DRIVE 0940
LA JOLLA,CA920930940 		N/A   GENERAL CONTRIBUTION 30,000

VALLEYWISE HEALTH FOUNDATION

5050 N 40TH ST SUITE 110
PHOENIX,AZ85018 		N/A   GENERAL CONTRIBUTION 88,500

WINTER SPORTS SCHOOL

4251 SHADOW MOUNTAIN DR
PARK CITY,UT84098 		N/A   GENERAL CONTRIBUTION 15,000

HONOR HEALTH FOUNDATION

8125 HAYDEN ROAD
SCOTTSDALE,AZ85258 		N/A   GENERAL CONTRIBUTION 50,000

UNIVERSITY OF COLORADO

1800 GRANT STREET
DENVER,CO80203 		N/A   GENERAL CONTRIBUTION 15,000

CHRIST CHURCH SCHOOL

4015 E LINCOLN RD
PARADISE VALLEY,AZ85253 		N/A   GENERAL CONTRIBUTION 10,000

UTAH OUTDOOR PARTNERS

3502 S LITTLE FARM LANE
SALT LAKE CITY,UT84109 		N/A   GENERAL CONTRIBUTION 10,000

WASHINGTON & LEE UNIVERSITY

204 W WASHINGTON STREET
LEXINGTON,VA24450 		N/A   GENERAL CONTRIBUTION 7,500

US SKI & SNOWBOARD TEAM

1 VICTORY LANE
PARK CITY,UT840600100 		N/A   GENERAL CONTRIBUTION 5,000

FOOD BANK OF THE ROCKIES

10700 E 45TH AVE
DENVER,CO80239 		N/A   GENERAL CONTRIBUTION 5,000

PARK CITY SKI TEAM

PO BOX 981763
PARK CITY,UT84098 		N/A   GENERAL CONTRIBUTION 5,000
Total ................................. 3a 775,000
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 ........... 		    14 2,336  
4 Dividends and interest from securities ....     14 896,014  
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 ............ 		    18 457,021  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,355,371 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,355,371
(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.)
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 InvestmentsCorpStockSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Name of Stock End of Year Book Value End of Year Fair Market Value
ALAMO GROUP INC 5,542 5,676
ANTERO RES CORP COM 7,148 8,718
ARCHROCK INC 8,592 8,847
ARTISAN PARTNERS ASSET MGMT 14,023 13,444
ATI INC 5,779 6,189
BATH & BODY WORKS INC 8,242 6,205
BOOZ ALLEN HAMILTON HLDG CL-A 5,972 6,205
BRUKER CORPORATION 9,459 10,882
CARLISLE CO INC 10,774 10,431
CCC INTELLIGENT SOLUTIONS HLD 7,680 6,638
CHURCHILL DOWNS INC 5,841 6,683
CIRRUS LOGIC INC 7,057 6,663
CLEAN HARBORS 11,020 11,788
COCA COLA CONSOLIDATED INC 9,507 12,774
COHERENT CORP 3,105 10,168
COMMERCIAL METALS CO 7,838 9,691
CSW INDUSTRIALS INC 7,164 7,798
CULLEN FROST BANKERS INC 12,408 13,423
CUSHMAN & WAKEFIELD LTD 8,973 14,474
EAGLE MATLS INC 10,229 9,369
ELEMENT SOLUTIONS INC 12,937 14,194
FIRSTCASH HLDGS INC 6,902 10,080
FTI CONSULTING INC 6,085 6,279
GATX CORP 9,875 11,905
GILDAN ACTIVEWEAR INC 4,427 7,808
GXO LOGISTICS INCORPORATED 3,530 4,568
HAMILTON LANE CL A 6,123 5,926
HANOVER INSURANCE GROUP INC 10,452 11,485
HAWKINS INC 6,115 7,304
HERC HLDGS INC 5,043 5,942
HEXCEL CORP NEW 4,486 5,952
HUNTINGTON INGALLS INDUSTRIES 6,076 10,920
INSTALLED BLDG PRODS INC 3,075 4,398
INTERNATIONAL FLAVORS&FRAGRANC 5,627 5,527
ISHARES RUSSELL 2000 VALUE ETF 25,558 27,725
JBT MAREL CORPORATION 7,869 9,827
LINCOLN ELEC HLDGS INC 7,713 9,756
LUMEN TECHNOLOGIES INC 4,573 5,369
MATADOR RES CO 5,760 6,706
MERITAGE HOME CORPORATION 6,481 5,586
MUELLER INDUS INC 7,824 9,820
MURPHY OIL CORP 8,384 9,094
NOBLE CORP NEW A 4,620 4,405
NORTHWEST NAT HLDG CO 8,533 9,348
PERMIAN RESOURCES CP CL A 7,878 7,717
PROSPERITY BANCSHARES 12,610 13,200
PVH CORPORATION 7,202 5,821
RED ROCK RESORTS INC CL A 4,278 5,366
RUSH ENTERPRISES INC CL A 5,369 5,987
RXO INC 1,830 1,593
SANMINA CORP 8,343 10,491
SCHNEIDER NATIONAL INC CL B 3,671 4,192
SELECTIVE INSURANCE GROUP 10,537 12,300
SPIRE INC 9,191 10,420
STAG INDL INC COM 8,505 8,455
TAYLOR MORRISON HOME CORP CL A 6,450 5,612
TETRA TECHNOLOGIES INC DEL 3,042 3,692
VALMONT INDUSTRIES 6,427 10,773
VALVOLINE INC COM 15,044 11,333
WARBY PARKER INC CL A 5,146 6,733
WATTS WTR TECH INC A 2,872 4,001
WERNER ENTERPRISES INC 4,618 4,922
WESCO INTL INC 6,930 10,495
ZIONS BANCORPORATION N A 10,036 14,050
ABBOTT LABORATORIES 10,340 15,035
ABBVIE INC COM 11,808 31,532
ABERCROMBIE & FITCH CO 2,786 5,035
ACCENTURE PLC IRELAND CL A 9,111 13,415
ADOBE INC 11,452 12,600
ADVANCED MICRO DEVICES 9,211 30,411
AECOM 3,451 2,955
AFLAC INCORPORATED 6,236 18,195
ALBEMARLE CORPORATION 1,310 3,112
ALPHABET INC CL A 37,519 194,060
AMAZON COM INC 40,936 90,020
AMERICAN EXPRESS CO 15,837 32,926
AMERICAN TOWER CORP 1,447 1,580
AMERICAN WATER WORKS CO 3,341 3,654
AMPHENOL CORP NEW CL A 1,136 2,433
ANALOG DEVICES INC 100 271
APPLE INC 52,784 205,254
APPLIED MATERIALS INC 5,316 15,933
APTARGROUP INC 3,247 3,293
AT&T INC 2,612 4,397
AUTODESK INC DELAWARE 2,314 3,552
BAKER HUGHES COMPANY CL A 10,691 23,863
BANK OF AMERICA CORP 14,759 32,835
BANK OF NEW YORK MELLON CORP 8,213 21,941
BLOCK INC CL A 1,025 1,172
BOOKING HOLDINGS INC 21,416 21,421
BOSTON SCIENTIFIC CORP 1,154 1,430
BROADCOM INC 38,537 74,412
BRUKER CORPORATION 8,777 11,495
BWX TECHNOLOGIES INC COM 1,288 1,728
BXP INC 2,999 2,834
CADENCE DESIGN SYSTEM 10,158 11,253
CAPITAL ONE FINANCIAL CORP 13,095 16,723
CATERPILLAR INC 3,653 10,312
CENCORA INC 1,838 7,093
CHIPOTLE MEXICAN GRILL INC COM 1,540 3,700
CHUBB LTD 3,254 8,427
CHURCH & DWIGHT CO INC 21,895 22,975
CISCO SYS INC 16,449 26,883
CITIGROUP INC NEW 5,039 9,685
CNH INDUSTRIAL N V 19,951 16,218
CONSTELLATION ENERGY CORP 1,060 1,766
CUMMINS INC 7,650 23,481
CVS HEALTH CORP COM 5,482 5,793
DANAHER CORPORATION 2,929 4,349
DECKERS OUTDOOR CORP 1,169 1,140
DEERE & CO 3,367 10,708
DELL TECHNOLOGIES INC CL C 4,057 9,819
EBAY INC 1,309 1,916
ECOLAB INC 7,465 12,076
ELEVANCE HEALTH INC 3,895 5,609
ELI LILLY & CO 28,641 35,464
EMBECTA CORP 55 24
EMCOR GROUP INC 883 8,565
ESTEE LAUDER CO INC CL A 7,567 11,519
ETSY INC 820 998
EVERSOURCE ENERGY COM 19,947 20,603
EXPEDIA GROUP INC 1,869 3,116
FLUOR CORP NEW 652 872
FORD MOTOR CO NEW 1,312 1,771
GAP INC 1,011 2,278
GE AEROSPACE 3,904 15,710
GEN DIGITAL INC 860 1,360
GENERAL MILLS INC 24,117 21,669
GOLDMAN SACHS GRP INC 17,933 65,925
GUIDEWIRE SOFTWARE INC 5,579 4,824
HARTFORD INSURANCE GROUP INC 17,946 38,446
HASBRO INC 4,848 7,708
HERSHEY COMPANY 14,875 16,378
HEWLETT PACKARD ENTERPRISE 3,501 8,167
HOME DEPOT INC 9,021 14,452
HP INC COM 2,903 4,033
ILLUMINA INC 10,836 17,051
INTEL CORP 5,613 8,635
INTL BUSINESS MACHINES CORP 8,830 18,661
INTUIT INC 7,325 18,548
IRIDIUM COMMUNICATIONS INC COM 1,330 939
JOHNSON & JOHNSON 32,920 47,185
JOHNSON CTLS INTL PLC 1,752 2,635
JPMORGAN CHASE & CO 23,837 45,433
KB HOME 792 1,185
KLA CORPORATION 2,003 15,796
KOHLS CORPORATION WISC 1,201 3,000
KROGER CO 39 62
L3HARRIS TECHNOLOGIES INC 2,123 3,523
LAS VEGAS SANDS CORPORATION 7,240 11,586
LIBERTY GLOBAL LTD CL C 1,227 1,380
LINCOLN ELEC HLDGS INC 702 2,157
LYFT INC CL A 2,247 3,119
MARSH & MCLENNAN COS INC 2,696 5,195
MASTERCARD INC CL A 25,751 42,816
MCKESSON CORP 1,583 9,843
MEDTRONIC PLC SHS 2,659 2,978
MERCK & CO INC NEW COM 13,875 19,473
META PLATFORMS INC CL A 17,368 81,191
MGM RESORTS INTERNATIONAL 5,133 6,203
MICROSOFT CORP 66,478 175,554
MOODYS CORP 7,192 8,684
MORNINGSTAR INC COMMON 3,127 3,260
MOTOROLA SOLUTIONS INC 2,657 6,900
NASDAQ INC COM 10,007 17,678
NETFLIX INC 15,152 19,690
NEWMONT CORPORATION 11,250 24,863
NIKE INC B 3,758 3,759
NVIDIA CORPORATION 8,684 246,367
ONE GAS INC 10,425 13,210
ORGANON & CO 39 7
PALANTIR TECHNOLOGIES INC CL A 2,898 4,799
PALO ALTO NETWORKS INC 1,094 1,105
PARSONS CORP 4,252 3,770
PAYPAL HLDGS INC COM 6,505 6,305
PFIZER INC 1,099 1,170
PHILIP MORRIS INTL INC 18,688 35,448
PINTEREST INC CL A 1,406 1,424
PNC FINL SVCS GP 625 1,252
POTLATCHDELTIC CORP 485 477
QUALCOMM INC 6,838 13,684
RTX CORPORATION 8,720 23,292
S&P GLOBAL INC COM 19,392 38,672
SALESFORCE INC 14,211 24,372
SBA COMMUNICATNS CORP NEW CL A 5,631 5,223
SERVICENOW INC 2,842 7,660
SIMON PPTY GROUP INC 5,175 10,181
SPIRE INC 40,839 45,237
STARBUCKS CORP WASHINGTON 10,179 9,600
SYNOPSYS INC 7,226 8,925
SYSCO CORP 4,670 4,716
TE CONNECTIVITY PLC 1,212 3,868
TESLA INC 28,711 59,363
TETRA TECH INC 16,332 15,294
THE CIGNA GROUP 31,744 34,129
THERMO FISHER SCIENTIFIC 3,121 5,795
TJX COS INC NEW 4,525 13,979
T-MOBILE US INC COM 2,521 3,858
TRANE TECHNOLOGIES PLC 18,651 17,514
TRAVELERS COMPANIES INC COM 620 1,740
UBER TECHNOLOGIES INC 7,760 8,906
UNITEDHEALTH GP INC 10,036 12,544
VALVOLINE INC COM 863 1,773
VERIZON COMMUNICATIONS 856 1,100
VISA INC CL A 51,682 76,455
VOYA FINL INC 3,506 3,948
W W GRAINGER INC 2,502 9,081
WALMART INC 13,177 33,757
WEATHERFORD INTL INC 4,641 7,356
WELLS FARGO & CO NEW 5,394 16,590
WESTERN DIGITAL CORPORATION 1,216 1,378
WILLIAMS SONOMA 4,455 13,930
XYLEM INC COM 12,104 21,108
YUM BRANDS INC 4,663 4,841
ACCENTURE PLC IRELAND CL A 7,525 8,523
AIA GROUP LTD SPON ADR 6,730 6,652
AKZO NOBEL NV ADR 7,909 6,814
ALCON INC 6,659 8,275
ASHTEAD GROUP PLC ADR 6,364 10,752
ASSA ABLOY AB UNSP ADR 6,127 10,473
BROOKFIELD CORP CL A 7,085 17,805
CAMECO CORP 1,644 16,102
COCA-COLA EUROPACIFIC PARTNERS 4,443 11,428
CREDICORP LTD 6,282 14,976
DAIKIN INDS LTD UNSPON ADR 7,549 6,406
DBS GROUP HOLDINGS LTD SP 5,225 14,751
DIAGEO PLC SPON ADR NEW 9,266 6,024
DSM FIRMENICH AG ADR 9,299 6,621
ERSTE GROUP BANK AG SPONS ADR 3,277 18,551
EXPERIAN GP LTD ADR 5,887 8,187
FANUC CORPORATION UNSP ADR 7,224 9,005
FAST RETAILING LTD UNSPON ADR 9,220 10,426
GSK PLC ADR 7,112 9,710
HALEON PLC ADR 6,992 9,746
HEINEKEN NV SPN ADR 7,074 6,020
ING GROEP NV ADR 4,595 17,948
ISHARES 0-3 MONTH TREASURY B 5,842 5,831
LVMH MOET HENNESSY LOUIS VUITT 5,920 8,603
MAGNUM ICE CREAM CO NV 283 368
MICHELIN COMPAGNIE GENERALE DE 9,254 9,027
MONOTARO CO LTD ADR 9,199 10,306
MUENCHENER RUECK-UNSPONS ADR 4,177 11,833
OTSUKA HOLDINGS CO LTD UNS ADR 5,993 10,529
PAN PAC INTL HLDGS CORP ADR 7,171 12,693
RENTOKIL INITIAL PLC ADR 6,859 6,452
ROCHE HOLDINGS ADR 8,948 14,388
SAFRAN SA 5,723 18,774
SONY GROUP CORPORATION ADR 10,403 14,925
SYMRISE AG UNSPONS ADR 7,208 5,602
TOTALENERGIES SE ACT 4,034 8,025
UNILEVER PLC NEW ADR 5,241 6,802
WAL-MART DE MEXICO SA SPON ADR 10,308 10,436

TY 2025 InvestmentsOtherSchedule2
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ARTISAN DEVELOPING WORLD ADV FMV 131,812 277,427
CCM COMMUNITY IMPACT BD INST FMV 583,606 531,447
GQG PARTNERS GLB QUALITY EQ I FMV 626,896 678,262
ISHARES CORE MSCI EAFE ETF FMV 555,680 667,819
LORD ABBETT SHT DURATION INC I FMV 384,260 387,102
NUVEEN CORE IMPACT BD R6 FMV 1,054,155 1,050,659
SC JOHNSON & SON 8 1/2 3RD RST FMV 377,064 408,700
SPDR S&P 500 ETF TRUST FMV 829,673 1,504,316
T ROWE INT US SMCP GRW EQ INV FMV 435,023 444,378
MICHAEL W. LOUIS COMPANY FMV 395,284 1,339,569
MICHAEL W. LOUIS LIMITED PARTNERSHIP FMV 3,361 3,683,305
BLUE OWL/OAK STREET NET LEASE TRUST FMV 205,381 255,518
APOLLO DEBT SOLUTIONS BDC CL I FMV 400,000 391,795

TY 2025 LegalFeesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BELL & ANDERSON LLC 11,139 11,139   0


TY 2025 OtherDecreasesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Description Amount
MORGAN STANLEY 2025 DIVIDENDS REC'D IN 2026 12,738
ROUNDING ADJUSTMENT 3
2024 NON-DIVIDEND DISTRIBUTIONS - BASIS ADJUSTMENTS 487
COST BASIS ADJUSTMENTS - 2025 SALES 784
ADJUST BLUE OWL/OAK STREET NET LEASE TRUST FOR NONDIV DISTRIBUTIONS 11,947
2025 NON-DIV DISTRIB BASIS ADJUSTMENTS 340


TY 2025 OtherExpensesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MWL HOLDINGS LP 3,963 3,963   0
MWL COMPANY - OTHER EXPENSES 27,658 27,658   0
MORGAN STANLEY 816 ADR FEES 684 684   0
MORGAN STANLEY 594 ADR FEES 1 1   0


TY 2025 OtherIncreasesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Description Amount
MORGAN STANLEY 2024 INCOME REC'D IN 2025 11,251
MICHAEL W. LOUIS COMPANY - NONDIVIDEND DISTRIBUTIONS 6
MWL HOLDINGS LIMITED PARTNERSHIP - NONDIVIDEND DISTRIBUTIONS 20
MORGAN STANLEY #262 - NONDIVIDEND DISTRIBUTIONS 650
MORGAN STANLEY #594 - NONDIVIDEND DISTRIBUTIONS 86
BLUE OWL REAL ESTATE NLT I - NONDIVIDEND DISTRIBUTION 11,947
TAX VS BOOK BASIS ADJUSTMENT ON SALES 13
2024 NUVEEN WASH SALE BASIS ADJUSTMENT 873


TY 2025 OtherProfessionalFeesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES 73,879 73,879   0


TY 2025 TaxesSchedule
Name:
MICHAEL W LOUIS PRIVATE FOUNDATION
EIN:
81-3941498
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES - MORGAN STANLEY 4,061 4,061   0
2025 990-T ESTIMATED TAXES 36,000 0   0
2025 990PF ESTIMATED TAXES 30,000 0   0
2024 990T TAXES 3 0   0