Sealed proof · filed Form 990-PF
PIVOTAL PHILANTHROPIES FOUNDATION
EIN 88-2918646, 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.
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 17, 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 distributions11.40×
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 rate22.6%
of net noncharitable-use assets; the legal test is the distributable amount, not this rate
Assets at fair market value$7.36B
end of the tax year, Part II
Largest listed stock11.2%
SIKA AG CHF0.01 (REG)
If that stock halved−5.6%
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
PIVOTAL PHILANTHROPIES 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/81e5e7bd803c — 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) | $107,633,454 | $107,633,454.35 | recomputes, within the form's whole-dollar rounding (difference −$0.35) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $64,925,031 | $64,925,030.9921 | recomputes, within the form's whole-dollar rounding (difference $0.0079) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $42,708,423 | $42,708,423 | recomputes exactly |
Where the assets sit, at fair market value
| Part II line | Fair market value | Share of assets |
|---|---|---|
| Cash (line 1) | $9.7M | 0.1% |
| Savings and temporary cash investments (line 2) | $886.1M | 12.0% |
| U.S. and state government obligations (line 10a) | $1B | 13.6% |
| Corporate stock (line 10b) | $4.14B | 56.3% |
| Corporate bonds (line 10c) | $296.1M | 4.0% |
| Other investments (line 13) | $1.01B | 13.7% |
The ten largest listed stocks, of 1567 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 17.3 equal holdings; the ten largest are 52.9% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| SIKA AG CHF0.01 (REG) | $823.8M | 11.2% |
| MICROSOFT CORP COM | $316.1M | 4.3% |
| GIVAUDAN SA CHF10 | $308.6M | 4.2% |
| APPLE INC COM STK | $176.3M | 2.4% |
| NVIDIA CORP COM | $154.4M | 2.1% |
| MFC ISHARES TRUST RUSSELL 3000 ETF | $141M | 1.9% |
| AMAZON COM INC COM | $93.9M | 1.3% |
| META PLATFORMS INC COM USD0.000006 CL 'A' | $59.6M | 0.8% |
| ALPHABET INC CAPITAL STOCK USD0.001 CL A | $58.2M | 0.8% |
| BROADCOM INC COM | $57.2M | 0.8% |
Largest other investments (line 13), as listed
| HUDSON BAY INTERNATIONAL FUND LTD | $210M | 2.9% |
| ARROWSTREET US EQUITY ALPHA EXTENSION TRUST FUND | $209.9M | 2.9% |
| BIL LTD | $140M | 1.9% |
| COATUE OFFSHORE FUND LTD | $140M | 1.9% |
| ADAGE CAPITAL PARTNERS LP | $100M | 1.4% |
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? No
- Part VI-B 3b: did it have excess business holdings? Not answered (3a is “No”, so the form does not ask 3b. Our note; not part of the seal.)
- 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 $107,633,454; recomputed $107,633,454.35; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $64,925,031; recomputed $64,925,030.99; 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 $42,708,423; recomputed $42,708,423; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $486,775,680 against a distributable amount of $42,708,423 (11.40×). |
| 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 | 1567 listed holdings sum to Part II line 10b exactly; the largest is 11.2% of total assets. |
| The foundation's own answers | Part VI-B 2a, 3a, 3b, 4a and 4b, each answered | reported | All 4 answered No (3b not asked: 3a is No). |
| 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 17 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. | $64,925,030 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $42,708,423 | 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 $86,106,763, $21,526,690 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, $2152669087; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $4670865539.
- 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)
d1c5ee2794da23fb…· 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
81e5e7bd803c03d3caf97df80fb9453458d24d67df20c45d8f45b88c939338c4 · recomputed now, matchesreturn Form 990-PF, IRS object
202543219349106604, schema 2024v5.2 — the file as the IRS published it hashes to d4165f2133dcdcaf…source file
202543219349106604_public.xml inside 2025_TEOS_XML_11B.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py 81e5e7bd803c --fetcharithmetic
kernel@2026-09-15.1 · kernel proof 50a0da23140ba6db…rules
b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b · commit bb0c3ac309b9 — 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 = 7358421363 USD let mix_cash = share(9663193 USD, total_assets_fmv) let mix_savings = share(886111826 USD, total_assets_fmv) let mix_government = share(1001828017 USD, total_assets_fmv) let mix_stock = share(4139681249 USD, total_assets_fmv) let mix_bonds = share(296119946 USD, total_assets_fmv) let mix_other = share(1009896113 USD, total_assets_fmv) let net_noncharitable_assets = 2152669087 USD let mir_filed = 107633454 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 4670865539 USD let excise_filed = 64925031 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 42708423 USD let distributable_recomputed = 107633454 USD - 64925031 USD + 0 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 486775680 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 = [823816887 USD, 316125000 USD, 308641231 USD, 176290922 USD, 154365818 USD, 141024420 USD, 93940165 USD, 59604332 USD, 58235116 USD, 57214403 USD, 56990708 USD, 56525309 USD, 49091052 USD, 42866049 USD, 34942600 USD, 33479637 USD, 28601687 USD, 26105761 USD, 22689031 USD, 22040233 USD, 17982360 USD, 17479034 USD, 16693431 USD, 16622054 USD, 15104739 USD, 14950110 USD, 13943522 USD, 13308018 USD, 12015656 USD, 11665185 USD, 11149134 USD, 10954373 USD, 10738676 USD, 10398645 USD, 10325254 USD, 10213164 USD, 10105131 USD, 9655332 USD, 9495486 USD, 9485196 USD, 9169353 USD, 8974247 USD, 8951139 USD, 8935453 USD, 8932772 USD, 8925674 USD, 8691006 USD, 8667890 USD, 8554222 USD, 8549619 USD, 8363502 USD, 8316734 USD, 8298397 USD, 8232737 USD, 8125602 USD, 8125472 USD, 8120258 USD, 7920392 USD, 7768930 USD, 7594057 USD, 7586238 USD, 7529034 USD, 7492180 USD, 7481859 USD, 7478643 USD, 7424728 USD, 7408236 USD, 7341348 USD, 7313024 USD, 7297873 USD, 7270645 USD, 7260922 USD, 7232191 USD, 7117188 USD, 7045137 USD, 6937445 USD, 6851912 USD, 6817877 USD, 6795021 USD, 6737970 USD, 6688538 USD, 6635540 USD, 6545142 USD, 6538262 USD, 6514541 USD, 6509616 USD, 6476202 USD, 6338644 USD, 6162222 USD, 6040809 USD, 5989997 USD, 5924710 USD, 5863674 USD, 5837910 USD, 5689342 USD, 5656094 USD, 5564364 USD, 5442167 USD, 5415670 USD, 5365791 USD, 5293436 USD, 5284664 USD, 5278097 USD, 5095200 USD, 4934488 USD, 4923426 USD, 4915820 USD, 4886177 USD, 4878663 USD, 4765446 USD, 4719430 USD, 4714594 USD, 4693926 USD, 4676574 USD, 4672319 USD, 4623701 USD, 4611727 USD, 4558937 USD, 4489409 USD, 4447639 USD, 4447298 USD, 4369571 USD, 4331393 USD, 4323099 USD, 4322457 USD, 4316422 USD, 4312798 USD, 4293672 USD, 4227941 USD, 4218132 USD, 4188863 USD, 4120974 USD, 4075364 USD, 4052048 USD, 3958547 USD, 3924353 USD, 3910197 USD, 3905547 USD, 3691322 USD, 3677158 USD, 3634348 USD, 3628479 USD, 3609015 USD, 3602117 USD, 3590520 USD, 3572365 USD, 3569905 USD, 3532894 USD, 3521065 USD, 3488621 USD, 3413573 USD, 3394765 USD, 3391723 USD, 3322800 USD, 3287934 USD, 3182058 USD, 3162679 USD, 3138998 USD, 3137699 USD, 3137100 USD, 3046130 USD, 3032882 USD, 3028445 USD, 3017606 USD, 3008749 USD, 3007383 USD, 2956732 USD, 2947289 USD, 2904038 USD, 2853967 USD, 2828474 USD, 2801135 USD, 2778776 USD, 2774562 USD, 2757630 USD, 2729236 USD, 2703036 USD, 2686471 USD, 2617846 USD, 2579379 USD, 2575571 USD, 2533360 USD, 2508427 USD, 2466124 USD, 2464779 USD, 2366316 USD, 2336377 USD, 2328592 USD, 2317893 USD, 2316423 USD, 2314905 USD, 2295827 USD, 2281752 USD, 2245326 USD, 2241755 USD, 2238140 USD, 2236141 USD, 2220310 USD, 2211729 USD, 2206897 USD, 2143290 USD, 2136098 USD, 2125506 USD, 2108313 USD, 2106753 USD, 2106663 USD, 2086495 USD, 2085528 USD, 2079458 USD, 2060190 USD, 2059019 USD, 2058759 USD, 2050784 USD, 2042541 USD, 2033116 USD, 2003164 USD, 2001180 USD, 1994212 USD, 1986897 USD, 1975308 USD, 1954367 USD, 1952096 USD, 1951389 USD, 1942450 USD, 1940446 USD, 1927766 USD, 1920392 USD, 1919264 USD, 1906493 USD, 1901993 USD, 1853190 USD, 1851708 USD, 1850614 USD, 1844018 USD, 1841436 USD, 1828703 USD, 1818761 USD, 1806955 USD, 1798172 USD, 1793522 USD, 1791033 USD, 1789502 USD, 1778283 USD, 1749995 USD, 1726610 USD, 1724941 USD, 1721786 USD, 1720036 USD, 1710583 USD, 1706902 USD, 1703706 USD, 1698395 USD, 1694004 USD, 1677462 USD, 1670814 USD, 1662910 USD, 1657529 USD, 1652281 USD, 1647822 USD, 1645683 USD, 1635336 USD, 1626647 USD, 1616631 USD, 1614877 USD, 1614848 USD, 1593876 USD, 1585196 USD, 1584828 USD, 1570160 USD, 1560174 USD, 1546090 USD, 1534229 USD, 1525239 USD, 1523404 USD, 1496597 USD, 1487829 USD, 1484929 USD, 1479800 USD, 1475052 USD, 1470354 USD, 1456768 USD, 1453001 USD, 1450354 USD, 1435815 USD, 1424222 USD, 1419393 USD, 1412993 USD, 1409987 USD, 1382396 USD, 1377397 USD, 1373720 USD, 1361521 USD, 1352804 USD, 1345843 USD, 1343197 USD, 1335147 USD, 1332149 USD, 1331158 USD, 1323810 USD, 1317729 USD, 1314807 USD, 1311814 USD, 1303897 USD, 1303429 USD, 1300841 USD, 1297226 USD, 1296954 USD, 1290715 USD, 1288394 USD, 1288033 USD, 1284322 USD, 1281880 USD, 1276218 USD, 1276139 USD, 1258021 USD, 1257455 USD, 1255395 USD, 1253961 USD, 1253273 USD, 1251322 USD, 1233581 USD, 1233390 USD, 1231096 USD, 1226795 USD, 1224404 USD, 1223229 USD, 1218212 USD, 1213628 USD, 1209875 USD, 1206179 USD, 1204818 USD, 1202264 USD, 1194913 USD, 1184347 USD, 1179437 USD, 1177736 USD, 1174197 USD, 1173699 USD, 1172150 USD, 1166506 USD, 1161247 USD, 1157561 USD, 1154357 USD, 1129980 USD, 1128205 USD, 1127549 USD, 1124666 USD, 1108056 USD, 1101215 USD, 1101189 USD, 1081206 USD, 1078995 USD, 1077785 USD, 1076855 USD, 1072654 USD, 1070068 USD, 1064903 USD, 1051969 USD, 1042113 USD, 1028764 USD, 1024478 USD, 1014692 USD, 1011272 USD, 1010900 USD, 1008190 USD, 1003860 USD, 1000171 USD, 994230 USD, 98 … (20297 characters; the full program is in the body below)
{
"mix": [
{
"fmv": "9663193",
"line": "cash",
"label": "Cash (line 1)",
"share": "0.00131321550143743786584242117965"
},
{
"fmv": "886111826",
"line": "savings",
"label": "Savings and temporary cash investments (line 2)",
"share": "0.120421457577245294807127505346"
},
{
"fmv": "1001828017",
"line": "government",
"label": "U.S. and state government obligations (line 10a)",
"share": "0.136147139118377230662538236056"
},
{
"fmv": "4139681249",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.562577357939212647396202119338"
},
{
"fmv": "296119946",
"line": "bonds",
"label": "Corporate bonds (line 10c)",
"share": "0.0402423198390032180058509650204"
},
{
"fmv": "1009896113",
"line": "other",
"label": "Other investments (line 13)",
"share": "0.137243582988874838098884770266"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "bb0c3ac309b908a3322a65d096f5a7ca733df4c2",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "882918646",
"name": "PIVOTAL PHILANTHROPIES 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": "107633454",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "-0.35",
"recomputed": "107633454.35"
},
{
"id": "excise_tax",
"note": null,
"filed": "64925031",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "0.0079",
"recomputed": "64925030.9921"
},
{
"id": "distributable_amount",
"note": null,
"filed": "42708423",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "42708423"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "4670865539",
"grossInvestmentIncome": "4675207897",
"netNoncharitableAssets": "2152669087",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202543219349106604",
"returnTs": "2025-11-17T15:33:28-06:00",
"operating": false,
"sourceSha256": "d4165f2133dcdcaf922d502d24edaabfd9f73e651c2bfdc21068b315a0fd70bf",
"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": "No",
"question": "Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise?"
},
{
"answer": "Not answered",
"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 = 7358421363 USD\nlet mix_cash = share(9663193 USD, total_assets_fmv)\nlet mix_savings = share(886111826 USD, total_assets_fmv)\nlet mix_government = share(1001828017 USD, total_assets_fmv)\nlet mix_stock = share(4139681249 USD, total_assets_fmv)\nlet mix_bonds = share(296119946 USD, total_assets_fmv)\nlet mix_other = share(1009896113 USD, total_assets_fmv)\nlet net_noncharitable_assets = 2152669087 USD\nlet mir_filed = 107633454 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 4670865539 USD\nlet excise_filed = 64925031 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 42708423 USD\nlet distributable_recomputed = 107633454 USD - 64925031 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 486775680 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 = [823816887 USD, 316125000 USD, 308641231 USD, 176290922 USD, 154365818 USD, 141024420 USD, 93940165 USD, 59604332 USD, 58235116 USD, 57214403 USD, 56990708 USD, 56525309 USD, 49091052 USD, 42866049 USD, 34942600 USD, 33479637 USD, 28601687 USD, 26105761 USD, 22689031 USD, 22040233 USD, 17982360 USD, 17479034 USD, 16693431 USD, 16622054 USD, 15104739 USD, 14950110 USD, 13943522 USD, 13308018 USD, 12015656 USD, 11665185 USD, 11149134 USD, 10954373 USD, 10738676 USD, 10398645 USD, 10325254 USD, 10213164 USD, 10105131 USD, 9655332 USD, 9495486 USD, 9485196 USD, 9169353 USD, 8974247 USD, 8951139 USD, 8935453 USD, 8932772 USD, 8925674 USD, 8691006 USD, 8667890 USD, 8554222 USD, 8549619 USD, 8363502 USD, 8316734 USD, 8298397 USD, 8232737 USD, 8125602 USD, 8125472 USD, 8120258 USD, 7920392 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26303 USD, 26201 USD, 26196 USD, 26128 USD, 26093 USD, 26089 USD, 26041 USD, 26006 USD, 25996 USD, 25934 USD, 25854 USD, 25848 USD, 25615 USD, 25547 USD, 25467 USD, 25441 USD, 25346 USD, 25320 USD, 25145 USD, 25126 USD, 25038 USD, 25037 USD, 24929 USD, 24910 USD, 24865 USD, 24818 USD, 24785 USD, 24471 USD, 24450 USD, 24440 USD, 24305 USD, 24210 USD, 24206 USD, 24167 USD, 24154 USD, 24103 USD, 24096 USD, 24087 USD, 24051 USD, 24013 USD, 23886 USD, 23736 USD, 23616 USD, 23543 USD, 23498 USD, 23290 USD, 23175 USD, 23067 USD, 22942 USD, 22889 USD, 22677 USD, 22668 USD, 22666 USD, 22610 USD, 22553 USD, 22462 USD, 22434 USD, 22413 USD, 22318 USD, 22245 USD, 22185 USD, 22130 USD, 22128 USD, 22017 USD, 21939 USD, 21845 USD, 21756 USD, 21583 USD, 21559 USD, 21167 USD, 21020 USD, 21002 USD, 20690 USD, 20690 USD, 20597 USD, 20597 USD, 20460 USD, 20455 USD, 20437 USD, 20429 USD, 20407 USD, 20089 USD, 20077 USD, 19950 USD, 19859 USD, 19854 USD, 19825 USD, 19773 USD, 19741 USD, 19693 USD, 19676 USD, 19658 USD, 19580 USD, 19579 USD, 19518 USD, 19480 USD, 19459 USD, 19454 USD, 19404 USD, 19250 USD, 19157 USD, 19006 USD, 18954 USD, 18910 USD, 18876 USD, 18817 USD, 18720 USD, 18667 USD, 18662 USD, 18485 USD, 18331 USD, 18199 USD, 18178 USD, 18078 USD, 17926 USD, 17664 USD, 17659 USD, 17500 USD, 17499 USD, 17333 USD, 17333 USD, 17310 USD, 17097 USD, 17028 USD, 16958 USD, 16890 USD, 16689 USD, 16655 USD, 16627 USD, 16135 USD, 15949 USD, 15943 USD, 15691 USD, 15601 USD, 15564 USD, 15302 USD, 15123 USD, 15117 USD, 14565 USD, 14374 USD, 13835 USD, 13825 USD, 13786 USD, 12797 USD, 12645 USD, 12127 USD, 12106 USD, 11850 USD, 10761 USD, 10296 USD, 8906 USD, 8284 USD, 7821 USD, 7583 USD, 7438 USD, 7366 USD, 7253 USD, 6037 USD, 5975 USD, 5557 USD, 4450 USD, 4155 USD, 3850 USD, 3555 USD, 2831 USD, 2175 USD, 1716 USD, 599 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([823816887 USD, 316125000 USD, 308641231 USD, 176290922 USD, 154365818 USD, 141024420 USD, 93940165 USD, 59604332 USD, 58235116 USD, 57214403 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": {
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"mir_filed": "107633454 USD",
"mix_bonds": "0.0402423198390032180058509650204",
"mix_other": "0.137243582988874838098884770266",
"mix_stock": "0.562577357939212647396202119338",
"mix_savings": "0.120421457577245294807127505346",
"payout_rate": "0.22612657139903454190309557783",
"stock_count": "1567",
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"largest_stock": "823816887 USD",
"mir_difference": "-0.35 USD",
"mir_recomputed": "107633454.35 USD",
"mix_government": "0.136147139118377230662538236056",
"payout_coverage": "11.3976505290303039285716543549",
"total_assets_fmv": "7358421363 USD",
"excise_difference": "0.0079 USD",
"excise_recomputed": "64925030.9921 USD",
"distributable_filed": "42708423 USD",
"stock_concentration": "0.0578668037970793265445471052122",
"top10_share_of_stock": "0.528847068727537191112851307359",
"net_investment_income": "4670865539 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "42708423 USD",
"effective_stock_holdings": "17.2810650387169361501962824316",
"net_noncharitable_assets": "2152669087 USD",
"qualifying_distributions": "486775680 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.11195565548099205799720931257",
"largest_stock_halved_share_of_assets": "0.0559778277404960289986046562852"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "823816887",
"name": "SIKA AG CHF0.01 (REG)",
"shareOfAssets": "0.11195565548099205799720931257"
},
{
"fmv": "316125000",
"name": "MICROSOFT CORP COM",
"shareOfAssets": "0.042960980950283208183820337172"
},
{
"fmv": "308641231",
"name": "GIVAUDAN SA CHF10",
"shareOfAssets": "0.0419439463676171108659029913724"
},
{
"fmv": "176290922",
"name": "APPLE INC COM STK",
"shareOfAssets": "0.0239577095824432200295567662235"
},
{
"fmv": "154365818",
"name": "NVIDIA CORP COM",
"shareOfAssets": "0.0209781161454262863201572818113"
},
{
"fmv": "141024420",
"name": "MFC ISHARES TRUST RUSSELL 3000 ETF",
"shareOfAssets": "0.0191650373148113507943456431281"
},
{
"fmv": "93940165",
"name": "AMAZON COM INC COM",
"shareOfAssets": "0.0127663476125945792756581504288"
},
{
"fmv": "59604332",
"name": "META PLATFORMS INC COM USD0.000006 CL 'A'",
"shareOfAssets": "0.00810015206518420192839397202103"
},
{
"fmv": "58235116",
"name": "ALPHABET INC CAPITAL STOCK USD0.001 CL A",
"shareOfAssets": "0.00791407737165214032878426780029"
},
{
"fmv": "57214403",
"name": "BROADCOM INC COM",
"shareOfAssets": "0.00777536378763092585895451119194"
}
],
"count": 1567,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "50a0da23140ba6dbed1bb9e4dbc1cc421544e1bbfe664ba0857ce8ecabfc3cdc",
"otherInvestments": [
{
"fmv": "210000000",
"name": "HUDSON BAY INTERNATIONAL FUND LTD",
"shareOfAssets": "0.0285387299313862355669506391652"
},
{
"fmv": "209896113",
"name": "ARROWSTREET US EQUITY ALPHA EXTENSION TRUST FUND",
"shareOfAssets": "0.028524611821689178796215668684"
},
{
"fmv": "140000000",
"name": "BIL LTD",
"shareOfAssets": "0.0190258199542574903779670927768"
},
{
"fmv": "140000000",
"name": "COATUE OFFSHORE FUND LTD",
"shareOfAssets": "0.0190258199542574903779670927768"
},
{
"fmv": "100000000",
"name": "ADAGE CAPITAL PARTNERS LP",
"shareOfAssets": "0.0135898713958982074128336376977"
}
]
}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.