Sealed proof · filed Form 990-PF
RALPH L & WINIFRED E POLK FOUNDATION
EIN 38-6080075, tax year January 1, 2024 to December 31, 2024. The return the foundation filed, as the IRS published it, with its arithmetic re-done exactly and sealed September 28, 2026.
Listed in the IRS register as RALPH L AND WINIFRED E POLK FOUNDATION. The name above is as written on the return; the EIN is the same foundation.
This is the latest return the IRS has published for this foundation. Its tax year ended 21 months ago, so a later one may have been filed since and not yet appear in the public file. The IRS received it on November 5, 2025.
The answer
Nothing carried into the next year: the return shows the year’s amount paid within the year.
Every line we re-do agrees with the return as filed.
Keep this record for the foundation, year on year: the Filing Record, the foundation’s own order, cancellable in writing for a full refund until thirty days after the filing deadline.
Qualifying distributions1.04×
the distributable amount (Part XI ÷ Part X)
Carried to next year$0
undistributed income, Part XII: nothing carried into the next year
Distributions as a rate4.9%
of net noncharitable-use assets; the legal test is the distributable amount, not this rate
Assets at fair market value$17.6M
end of the tax year, Part II
Largest listed stock1.2%
TAIWAN SMCNDCTR MFG CO LTD ADR ( TSM)
If that stock halved−0.6%
of total assets, from that one name
Filing Record: $2,600 a year, direct or at cost through the firm that prepares the return. This page stays whether or not the foundation buys anything. Cancel in writing for any reason, any time up to 30 days after your statutory 990-PF filing deadline (or 12 months from invoice, whichever is earlier): the year is refunded in full to the payer, and seals already generated remain checkable. Or write to a person →
Nothing here can be changed quietly. Try it
RALPH L & WINIFRED E POLK FOUNDATION · Form 990-PF, year ended December 31, 2024checking
Recomputing the seal in your browser…
The foundation’s own public return, sealed through the same free action as yours. Your edits stay in this page: nothing is sent and nothing is saved. A sealed copy shows nothing changed; it does not show the original was correct.
This page’s own short link: paretoalphasystems.com/p/500295ab507f — it fits on a printed page, and whoever opens it can run the same check.
The return’s own arithmetic, re-done
| Line | As filed | Recomputed | Result |
|---|---|---|---|
| Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6) | $796,165 | $796,164.6 | recomputes, within the form's whole-dollar rounding (difference $0.4) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $44,556 | $44,556.4083 | recomputes, within the form's whole-dollar rounding (difference −$0.4083) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $751,609 | $751,609 | recomputes exactly |
Where the assets sit, at fair market value
| Part II line | Fair market value | Share of assets |
|---|---|---|
| Cash (line 1) | $7,174 | <0.1% |
| U.S. and state government obligations (line 10a) | $826,623 | 4.7% |
| Corporate stock (line 10b) | $7.1M | 40.5% |
| Corporate bonds (line 10c) | $2.9M | 16.7% |
| Other investments (line 13) | $6.7M | 37.9% |
The ten largest listed stocks, of 316 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 188.8 equal holdings; the ten largest are 13.4% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| TAIWAN SMCNDCTR MFG CO LTD ADR ( TSM) | $214,672 | 1.2% |
| NVIDIA CORPORATION ( NVDA) | $102,060 | 0.6% |
| TENCENT HLDGS LTD UNSPON ADR ( TCEHY) | $101,255 | 0.6% |
| APPLE INC (AAPL) | $100,669 | 0.6% |
| MICROSOFT CORP ( MSFT) | $97,788 | 0.6% |
| AMAZON COM INC (AMZN) | $78,542 | 0.4% |
| ALPHABET INC CL A (GOOGL) | $75,531 | 0.4% |
| SANOFI ADR ( SNY) | $66,027 | 0.4% |
| ALIBABA GROUP HLDG LTD (BABA) | $60,201 | 0.3% |
| U S BANCORP COM NEW ( USB) | $58,974 | 0.3% |
Largest other investments (line 13), as listed
| IRONWOOD INSTIT MS LLC | $1.6M | 9.1% |
| ACAP STRATEGIC FUND-W (XCWPX) | $804,372 | 4.6% |
| TCW EMERG MKTS INCOME I (TGEIX) | $801,132 | 4.6% |
| KOPERNIK GLB ALL CAP INSTL (KGGIX) | $780,341 | 4.4% |
| ACL ALT LTD USD A | $630,683 | 3.6% |
What the foundation answered on the form
- Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes? No
- Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy? No
- Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise? Yes
- Part VI-B 3b: did it have excess business holdings? No
- Part VI-B 2a: did it have undistributed income for prior years? No
Quoted as filed. These are the foundation’s own answers; this page does not test them.
Control statement · nine controls
Nine controls, read from the return.
Each control reads one part of the filed return and states a fact in a fixed vocabulary: agrees, differs, reported, not reported, not applicable, not checked. Whether any of it met a requirement is counsel’s question, not this page’s.
Recomputed each time the page is read; not part of the seal. The seal covers the body above (controls v2, kernel@2026-09-15.1).
This return: 4 agree, 4 reported, 1 not checked.
| Control | Reads | Result | Detail |
|---|---|---|---|
| Minimum investment return | Part IX line 6 against 5% of line 5, prorated for a short year | agrees | Filed $796,165; recomputed $796,164.6; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $44,556; recomputed $44,556.40; agrees within the form's whole-dollar rounding. |
| Distributable amount | Part X line 7 against the form's own chain from line 1 | agrees | Filed $751,609; recomputed $751,609; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $778,346 against a distributable amount of $751,609 (1.04×). |
| Payout deadline | Part XII undistributed income and the date it falls due | reported | Part XII reports $0 undistributed income for the year ended 31 December 2024: nothing carried into the next year, so nothing from this year falls due by 31 December 2025. |
| Holdings tie-out | The corporate-stock schedule against Part II line 10b | agrees | 316 listed holdings sum to Part II line 10b exactly; the largest is 1.2% of total assets. |
| The foundation's own answers | Part VI-B 2a, 3a, 3b, 4a and 4b, each answered | reported | All 5 answered; Yes to Part VI-B 3a. |
| Filing timeliness | The e-file timestamp beside the original due date and the extension window, each with its IRC §7503 roll to the next business day | reported | Return timestamped 5 November 2025; the original due date was 15 May 2025; the six-month extension window ended 15 November 2025 (a Saturday, so 17 November 2025 under IRC §7503). Whether an extension was granted is not visible in the e-file; the timestamp is the preparer software's, not the IRS receipt. |
| Year-to-year continuity | This year's opening balances against last year's closing | not checked | Needs the prior year's return; one sealed year cannot check itself. |
A line that differs is the return’s figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding. The page is not indexed. It is read by whoever holds the link: the person who asked for it, and anyone the foundation sends it to, its preparer first.
Year-to-year continuity needs two filed years on record. The years, below, reads this foundation’s filed returns in order and holds each against the one before.
The calendar ahead
A payout is owed on last year’s assets, whatever this year’s market does.
Recomputed each time the page is read; not part of the seal. The seal covers the body above (forward v2, kernel@2026-09-15.1). Read against October 8, 2026.
| By | What | Amount | Basis |
|---|---|---|---|
| May 15, 2026 Passed | Excise tax on the year ending 31 December 2025, due with that return by 15 May 2026. That date has passed; the figure for that year is on its own return, not this one. | $44,556 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $751,608 | Projected under the assumptions below |
If net noncharitable-use assets fell 20% over the year ending December 31, 2025: what is owed now, nothing from Part XII, is unchanged; the following year’s minimum investment return would be $636,931, $159,232 less than the projection.
The assumptions, the forward kernel proof, and what was refused
- Net noncharitable-use assets for the year ending 31 December 2025 equal this return's Part IX line 5, $15923292; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $3205497.
- No recoveries, income tax or deduction next year; the rates stay 5% and 1.39%; a full tax year.
- The fall shown is 20% of net noncharitable-use assets, applied to next year's average only; what is already owed was computed on this year's average and is unchanged.
- Forward kernel proof (the projection’s own, recomputed, not sealed)
3caa0951fc3846bb…· kernel@2026-09-15.1 · forward v2, controls v2
- A projection under the stated assumptions, from the foundation's own filed figures; not a forecast, not advice.
- The foundation's preparer computes the actual amounts from the year's monthly values; this page states what the last return implies if nothing changes.
- What is already owed was computed on last year's average assets and does not change with this year's market.
The years · carryover chain
One return is one year. The payout is kept across six.
What a foundation leaves undistributed is due by the end of the next tax year, and what it distributes beyond the year’s amount may be applied in the five years after. So what is owed, and what may be set against it, is only readable across the filed years. The IRS publishes those years; this reads them in order, re-adds each Part XII, and holds each year’s opening lines against the year before’s closing lines.
Sealed under a hash of their own the first time they are opened; not part of the seal above.
Up to six filed returns, read from the IRS and sealed under one hash, at a page of their own. Nothing about you is recorded.
The seal
Recomputed just now: it matches what was sealed on September 28, 2026. Anyone can check it without us.
For your auditor: what this hash is over, and how to check it from the IRS’s own file
proof
500295ab507fe7cd29fc8ee1c4283b42d670ce005242c18401933f7fcb9368b7 · recomputed now, matchesreturn Form 990-PF, IRS object
202513099349102056, schema 2024v5.2 — the file as the IRS published it hashes to c7b4284fb797b727…source file
202513099349102056_public.xml inside 2025_TEOS_XML_11D.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py 500295ab507f --fetcharithmetic
kernel@2026-09-15.1 · kernel proof 07615a87fb1f77a5…rules
b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b · commit 7dd856f88a5e — the digest of the 990-PF rules this proof was sealed under (body v2); a proof of the same return under later rules names this hash as supersededThis page is not listed on this site and asks search engines not to index it. It is reached by its link, which whoever asked for it holds.
This foundation’s finance lead or counsel: to add a note beside this page, ask for a correction, or keep the record, write to us.
11,842 foundation returns re-done by the same code; in 11,827 every line we recompute agrees. The study.
This page stays whether or not the foundation buys anything.
Filing Record: $2,600 a year, direct or carried at cost by the firm that prepares the return.
The program, and the full body that was hashed
let total_assets_fmv = 17604229 USD let mix_cash = share(7174 USD, total_assets_fmv) let mix_government = share(826623 USD, total_assets_fmv) let mix_stock = share(7137441 USD, total_assets_fmv) let mix_bonds = share(2944043 USD, total_assets_fmv) let mix_other = share(6676581 USD, total_assets_fmv) let net_noncharitable_assets = 15923292 USD let mir_filed = 796165 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 3205497 USD let excise_filed = 44556 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 751609 USD let distributable_recomputed = 796165 USD - 44556 USD + 0 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 778346 USD let payout_coverage = qualifying_distributions / distributable_filed let payout_rate = share(qualifying_distributions, net_noncharitable_assets) let undistributed_to_next_year = 0 USD let stocks = [214672 USD, 102060 USD, 101255 USD, 100669 USD, 97788 USD, 78542 USD, 75531 USD, 66027 USD, 60201 USD, 58974 USD, 56626 USD, 54365 USD, 53184 USD, 50580 USD, 48348 USD, 47624 USD, 46832 USD, 46277 USD, 45921 USD, 45905 USD, 45263 USD, 44745 USD, 44685 USD, 43071 USD, 42557 USD, 42069 USD, 41424 USD, 40511 USD, 40204 USD, 38756 USD, 38345 USD, 38007 USD, 37795 USD, 37774 USD, 37641 USD, 36701 USD, 35890 USD, 35713 USD, 35712 USD, 34713 USD, 34661 USD, 34350 USD, 32797 USD, 32280 USD, 32171 USD, 32106 USD, 31952 USD, 31897 USD, 31873 USD, 31584 USD, 31490 USD, 31250 USD, 30981 USD, 30981 USD, 30851 USD, 30563 USD, 29985 USD, 29976 USD, 29661 USD, 29581 USD, 29564 USD, 29564 USD, 29393 USD, 29346 USD, 28940 USD, 28873 USD, 28539 USD, 28424 USD, 28375 USD, 28301 USD, 28228 USD, 28154 USD, 28116 USD, 27987 USD, 27969 USD, 27955 USD, 27875 USD, 27654 USD, 27262 USD, 27072 USD, 27034 USD, 26995 USD, 26846 USD, 26685 USD, 26588 USD, 26301 USD, 25917 USD, 25889 USD, 25685 USD, 25628 USD, 25546 USD, 25382 USD, 25199 USD, 25097 USD, 24894 USD, 24695 USD, 24665 USD, 24649 USD, 24545 USD, 24491 USD, 24406 USD, 24281 USD, 24117 USD, 24037 USD, 24037 USD, 24028 USD, 24021 USD, 23961 USD, 23793 USD, 23745 USD, 23438 USD, 23318 USD, 23300 USD, 23284 USD, 23207 USD, 23119 USD, 23098 USD, 22993 USD, 22948 USD, 22827 USD, 22527 USD, 22514 USD, 22437 USD, 22407 USD, 22319 USD, 22291 USD, 22274 USD, 21830 USD, 21628 USD, 21516 USD, 21474 USD, 21355 USD, 21292 USD, 21260 USD, 21258 USD, 21228 USD, 21221 USD, 21074 USD, 20973 USD, 20823 USD, 20611 USD, 20605 USD, 20587 USD, 20553 USD, 20468 USD, 20322 USD, 20300 USD, 19964 USD, 19916 USD, 19833 USD, 19759 USD, 19675 USD, 19634 USD, 19588 USD, 19417 USD, 19364 USD, 19297 USD, 19269 USD, 19267 USD, 19243 USD, 19206 USD, 19042 USD, 18947 USD, 18930 USD, 18927 USD, 18917 USD, 18888 USD, 18580 USD, 18529 USD, 18483 USD, 18466 USD, 18354 USD, 18345 USD, 18243 USD, 18161 USD, 18078 USD, 18036 USD, 17943 USD, 17870 USD, 17702 USD, 17673 USD, 17580 USD, 17301 USD, 17201 USD, 17151 USD, 17118 USD, 16918 USD, 16918 USD, 16780 USD, 16720 USD, 16634 USD, 16615 USD, 16582 USD, 16552 USD, 16482 USD, 16266 USD, 16197 USD, 16047 USD, 15811 USD, 15810 USD, 15807 USD, 15759 USD, 15719 USD, 15695 USD, 15370 USD, 15351 USD, 15327 USD, 15258 USD, 15254 USD, 15122 USD, 15005 USD, 14977 USD, 14867 USD, 14834 USD, 14783 USD, 14733 USD, 14709 USD, 14620 USD, 14294 USD, 14241 USD, 14210 USD, 14035 USD, 14019 USD, 13987 USD, 13876 USD, 13850 USD, 13758 USD, 13522 USD, 13453 USD, 13428 USD, 13407 USD, 13269 USD, 12913 USD, 12899 USD, 12766 USD, 12742 USD, 12694 USD, 12631 USD, 12590 USD, 12572 USD, 12360 USD, 12277 USD, 12113 USD, 12037 USD, 11751 USD, 11735 USD, 11661 USD, 11598 USD, 11479 USD, 11463 USD, 11386 USD, 11079 USD, 11005 USD, 10955 USD, 10950 USD, 10718 USD, 10566 USD, 10375 USD, 10321 USD, 10301 USD, 10228 USD, 10224 USD, 10115 USD, 10099 USD, 9981 USD, 9938 USD, 9818 USD, 9817 USD, 9815 USD, 9743 USD, 9633 USD, 9456 USD, 9254 USD, 9218 USD, 9065 USD, 9054 USD, 8980 USD, 8697 USD, 8644 USD, 8527 USD, 8473 USD, 8230 USD, 8229 USD, 8085 USD, 8000 USD, 7793 USD, 7649 USD, 7176 USD, 6990 USD, 6962 USD, 6854 USD, 6683 USD, 6520 USD, 6472 USD, 6406 USD, 6372 USD, 6169 USD, 5936 USD, 5597 USD, 5433 USD, 5073 USD, 4476 USD, 4474 USD, 4207 USD, 4133 USD, 3540 USD, 3414 USD, 3133 USD, 2840 USD, 2662 USD, 2568 USD, 2527 USD, 2387 USD, 2171 USD, 2029 USD, 1393 USD] let stock_count = count(stocks) let largest_stock = max(stocks) let largest_stock_share_of_assets = share(largest_stock, total_assets_fmv) let top10_share_of_stock = share(sum([214672 USD, 102060 USD, 101255 USD, 100669 USD, 97788 USD, 78542 USD, 75531 USD, 66027 USD, 60201 USD, 58974 USD]), sum(stocks)) let stock_concentration = hhi(stocks) let effective_stock_holdings = 1 / stock_concentration let largest_stock_halved_share_of_assets = share(largest_stock * 50%, total_assets_fmv)
{
"mix": [
{
"fmv": "7174",
"line": "cash",
"label": "Cash (line 1)",
"share": "0.000407515716820089082004102536953"
},
{
"fmv": "826623",
"line": "government",
"label": "U.S. and state government obligations (line 10a)",
"share": "0.0469559331453822828594197451078"
},
{
"fmv": "7137441",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.405438999913032260600563648655"
},
{
"fmv": "2944043",
"line": "bonds",
"label": "Corporate bonds (line 10c)",
"share": "0.167234986547834614057792590633"
},
{
"fmv": "6676581",
"line": "other",
"label": "Other investments (line 13)",
"share": "0.379260063022356730306109969372"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "386080075",
"name": "RALPH L & WINIFRED E POLK FOUNDATION"
},
"scope": [
"Every figure here is the foundation's own filed return or exact arithmetic on it; nothing is estimated.",
"A 990-PF is a year-end snapshot. Prudence is judged at the time of each decision, which a filing cannot show.",
"This page neither establishes nor rules out any tax consequence, and no return is prepared or amended here.",
"A line that differs is the return's figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding."
],
"checks": [
{
"id": "minimum_investment_return",
"note": null,
"filed": "796165",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "0.4",
"recomputed": "796164.6"
},
{
"id": "excise_tax",
"note": null,
"filed": "44556",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "-0.4083",
"recomputed": "44556.4083"
},
{
"id": "distributable_amount",
"note": null,
"filed": "751609",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "751609"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "3205497",
"grossInvestmentIncome": "3330776",
"netNoncharitableAssets": "15923292",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202513099349102056",
"returnTs": "2025-11-05T13:24:11-06:00",
"operating": false,
"sourceSha256": "c7b4284fb797b727e056ae887e0679dbb9818d5ed64b579c83c8a9abe16c88ff",
"returnVersion": "2024v5.2",
"partXBoxChecked": false
},
"answers": [
{
"answer": "No",
"question": "Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes?"
},
{
"answer": "No",
"question": "Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy?"
},
{
"answer": "Yes",
"question": "Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise?"
},
{
"answer": "No",
"question": "Part VI-B 3b: did it have excess business holdings?"
},
{
"answer": "No",
"question": "Part VI-B 2a: did it have undistributed income for prior years?"
}
],
"program": "let total_assets_fmv = 17604229 USD\nlet mix_cash = share(7174 USD, total_assets_fmv)\nlet mix_government = share(826623 USD, total_assets_fmv)\nlet mix_stock = share(7137441 USD, total_assets_fmv)\nlet mix_bonds = share(2944043 USD, total_assets_fmv)\nlet mix_other = share(6676581 USD, total_assets_fmv)\nlet net_noncharitable_assets = 15923292 USD\nlet mir_filed = 796165 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 3205497 USD\nlet excise_filed = 44556 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 751609 USD\nlet distributable_recomputed = 796165 USD - 44556 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 778346 USD\nlet payout_coverage = qualifying_distributions / distributable_filed\nlet payout_rate = share(qualifying_distributions, net_noncharitable_assets)\nlet undistributed_to_next_year = 0 USD\nlet stocks = [214672 USD, 102060 USD, 101255 USD, 100669 USD, 97788 USD, 78542 USD, 75531 USD, 66027 USD, 60201 USD, 58974 USD, 56626 USD, 54365 USD, 53184 USD, 50580 USD, 48348 USD, 47624 USD, 46832 USD, 46277 USD, 45921 USD, 45905 USD, 45263 USD, 44745 USD, 44685 USD, 43071 USD, 42557 USD, 42069 USD, 41424 USD, 40511 USD, 40204 USD, 38756 USD, 38345 USD, 38007 USD, 37795 USD, 37774 USD, 37641 USD, 36701 USD, 35890 USD, 35713 USD, 35712 USD, 34713 USD, 34661 USD, 34350 USD, 32797 USD, 32280 USD, 32171 USD, 32106 USD, 31952 USD, 31897 USD, 31873 USD, 31584 USD, 31490 USD, 31250 USD, 30981 USD, 30981 USD, 30851 USD, 30563 USD, 29985 USD, 29976 USD, 29661 USD, 29581 USD, 29564 USD, 29564 USD, 29393 USD, 29346 USD, 28940 USD, 28873 USD, 28539 USD, 28424 USD, 28375 USD, 28301 USD, 28228 USD, 28154 USD, 28116 USD, 27987 USD, 27969 USD, 27955 USD, 27875 USD, 27654 USD, 27262 USD, 27072 USD, 27034 USD, 26995 USD, 26846 USD, 26685 USD, 26588 USD, 26301 USD, 25917 USD, 25889 USD, 25685 USD, 25628 USD, 25546 USD, 25382 USD, 25199 USD, 25097 USD, 24894 USD, 24695 USD, 24665 USD, 24649 USD, 24545 USD, 24491 USD, 24406 USD, 24281 USD, 24117 USD, 24037 USD, 24037 USD, 24028 USD, 24021 USD, 23961 USD, 23793 USD, 23745 USD, 23438 USD, 23318 USD, 23300 USD, 23284 USD, 23207 USD, 23119 USD, 23098 USD, 22993 USD, 22948 USD, 22827 USD, 22527 USD, 22514 USD, 22437 USD, 22407 USD, 22319 USD, 22291 USD, 22274 USD, 21830 USD, 21628 USD, 21516 USD, 21474 USD, 21355 USD, 21292 USD, 21260 USD, 21258 USD, 21228 USD, 21221 USD, 21074 USD, 20973 USD, 20823 USD, 20611 USD, 20605 USD, 20587 USD, 20553 USD, 20468 USD, 20322 USD, 20300 USD, 19964 USD, 19916 USD, 19833 USD, 19759 USD, 19675 USD, 19634 USD, 19588 USD, 19417 USD, 19364 USD, 19297 USD, 19269 USD, 19267 USD, 19243 USD, 19206 USD, 19042 USD, 18947 USD, 18930 USD, 18927 USD, 18917 USD, 18888 USD, 18580 USD, 18529 USD, 18483 USD, 18466 USD, 18354 USD, 18345 USD, 18243 USD, 18161 USD, 18078 USD, 18036 USD, 17943 USD, 17870 USD, 17702 USD, 17673 USD, 17580 USD, 17301 USD, 17201 USD, 17151 USD, 17118 USD, 16918 USD, 16918 USD, 16780 USD, 16720 USD, 16634 USD, 16615 USD, 16582 USD, 16552 USD, 16482 USD, 16266 USD, 16197 USD, 16047 USD, 15811 USD, 15810 USD, 15807 USD, 15759 USD, 15719 USD, 15695 USD, 15370 USD, 15351 USD, 15327 USD, 15258 USD, 15254 USD, 15122 USD, 15005 USD, 14977 USD, 14867 USD, 14834 USD, 14783 USD, 14733 USD, 14709 USD, 14620 USD, 14294 USD, 14241 USD, 14210 USD, 14035 USD, 14019 USD, 13987 USD, 13876 USD, 13850 USD, 13758 USD, 13522 USD, 13453 USD, 13428 USD, 13407 USD, 13269 USD, 12913 USD, 12899 USD, 12766 USD, 12742 USD, 12694 USD, 12631 USD, 12590 USD, 12572 USD, 12360 USD, 12277 USD, 12113 USD, 12037 USD, 11751 USD, 11735 USD, 11661 USD, 11598 USD, 11479 USD, 11463 USD, 11386 USD, 11079 USD, 11005 USD, 10955 USD, 10950 USD, 10718 USD, 10566 USD, 10375 USD, 10321 USD, 10301 USD, 10228 USD, 10224 USD, 10115 USD, 10099 USD, 9981 USD, 9938 USD, 9818 USD, 9817 USD, 9815 USD, 9743 USD, 9633 USD, 9456 USD, 9254 USD, 9218 USD, 9065 USD, 9054 USD, 8980 USD, 8697 USD, 8644 USD, 8527 USD, 8473 USD, 8230 USD, 8229 USD, 8085 USD, 8000 USD, 7793 USD, 7649 USD, 7176 USD, 6990 USD, 6962 USD, 6854 USD, 6683 USD, 6520 USD, 6472 USD, 6406 USD, 6372 USD, 6169 USD, 5936 USD, 5597 USD, 5433 USD, 5073 USD, 4476 USD, 4474 USD, 4207 USD, 4133 USD, 3540 USD, 3414 USD, 3133 USD, 2840 USD, 2662 USD, 2568 USD, 2527 USD, 2387 USD, 2171 USD, 2029 USD, 1393 USD]\nlet stock_count = count(stocks)\nlet largest_stock = max(stocks)\nlet largest_stock_share_of_assets = share(largest_stock, total_assets_fmv)\nlet top10_share_of_stock = share(sum([214672 USD, 102060 USD, 101255 USD, 100669 USD, 97788 USD, 78542 USD, 75531 USD, 66027 USD, 60201 USD, 58974 USD]), sum(stocks))\nlet stock_concentration = hhi(stocks)\nlet effective_stock_holdings = 1 / stock_concentration\nlet largest_stock_halved_share_of_assets = share(largest_stock * 50%, total_assets_fmv)",
"results": {
"mix_cash": "0.000407515716820089082004102536953",
"mir_filed": "796165 USD",
"mix_bonds": "0.167234986547834614057792590633",
"mix_other": "0.379260063022356730306109969372",
"mix_stock": "0.405438999913032260600563648655",
"payout_rate": "0.0488809726029014603261687344552",
"stock_count": "316",
"excise_filed": "44556 USD",
"largest_stock": "214672 USD",
"mir_difference": "0.4 USD",
"mir_recomputed": "796164.6 USD",
"mix_government": "0.0469559331453822828594197451078",
"payout_coverage": "1.03557301735343775819608333588",
"total_assets_fmv": "17604229 USD",
"excise_difference": "-0.4083 USD",
"excise_recomputed": "44556.4083 USD",
"distributable_filed": "751609 USD",
"stock_concentration": "0.00529641693032348327944029579215",
"top10_share_of_stock": "0.133902192676618973102544735571",
"net_investment_income": "3205497 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "751609 USD",
"effective_stock_holdings": "188.806888346481463379953815238",
"net_noncharitable_assets": "15923292 USD",
"qualifying_distributions": "778346 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.0121943426207418683317514217748",
"largest_stock_halved_share_of_assets": "0.00609717131037093416587571088742"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "214672",
"name": "TAIWAN SMCNDCTR MFG CO LTD ADR ( TSM)",
"shareOfAssets": "0.0121943426207418683317514217748"
},
{
"fmv": "102060",
"name": "NVIDIA CORPORATION ( NVDA)",
"shareOfAssets": "0.00579747059641180536790336003923"
},
{
"fmv": "101255",
"name": "TENCENT HLDGS LTD UNSPON ADR ( TCEHY)",
"shareOfAssets": "0.00575174294767467521582456124605"
},
{
"fmv": "100669",
"name": "APPLE INC (AAPL)",
"shareOfAssets": "0.00571845549157534817344173380158"
},
{
"fmv": "97788",
"name": "MICROSOFT CORP ( MSFT)",
"shareOfAssets": "0.00555480163317575566643674085358"
},
{
"fmv": "78542",
"name": "AMAZON COM INC (AMZN)",
"shareOfAssets": "0.00446154159889649242804101219088"
},
{
"fmv": "75531",
"name": "ALPHABET INC CL A (GOOGL)",
"shareOfAssets": "0.00429050315125984784678726912721"
},
{
"fmv": "66027",
"name": "SANOFI ADR ( SNY)",
"shareOfAssets": "0.00375063287349874851094018374789"
},
{
"fmv": "60201",
"name": "ALIBABA GROUP HLDG LTD (BABA)",
"shareOfAssets": "0.00341968966661363016806927471802"
},
{
"fmv": "58974",
"name": "U S BANCORP COM NEW ( USB)",
"shareOfAssets": "0.00334999050512237712881376401091"
}
],
"count": 316,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "07615a87fb1f77a5e7a3f7e24dfa6266f70c68612c56963786a283ba1c60c293",
"otherInvestments": [
{
"fmv": "1607149",
"name": "IRONWOOD INSTIT MS LLC",
"shareOfAssets": "0.0912933477518384928984961511237"
},
{
"fmv": "804372",
"name": "ACAP STRATEGIC FUND-W (XCWPX)",
"shareOfAssets": "0.0456919754906619312893509849253"
},
{
"fmv": "801132",
"name": "TCW EMERG MKTS INCOME I (TGEIX)",
"shareOfAssets": "0.0455079288050615565157667512732"
},
{
"fmv": "780341",
"name": "KOPERNIK GLB ALL CAP INSTL (KGGIX)",
"shareOfAssets": "0.044326905767926559010337800082"
},
{
"fmv": "630683",
"name": "ACL ALT LTD USD A",
"shareOfAssets": "0.0358256530291670257186497630768"
}
]
}The seal’s own scope:
- Every figure here is the foundation's own filed return or exact arithmetic on it; nothing is estimated.
- A 990-PF is a year-end snapshot. Prudence is judged at the time of each decision, which a filing cannot show.
- This page neither establishes nor rules out any tax consequence, and no return is prepared or amended here.
- A line that differs is the return's figure beside the recomputed one, as filed and as recomputed. The return may carry a reason this page cannot read: a schedule filed on paper, an election, a later amendment. It is not a finding.
We don’t prepare or file a 990-PF. We read the one the foundation filed, re-do its arithmetic exactly, and seal what it says.