Sealed proof · filed Form 990-PF
1923 FUND
EIN 36-7070455, 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 11, 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 distributions1.37×
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 rate6.4%
of net noncharitable-use assets; the legal test is the distributable amount, not this rate
Assets at fair market value$97.5M
end of the tax year, Part II
Largest listed stock1.3%
594918104 MICROSOFT CORP
If that stock halved−0.7%
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
1923 FUND · 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/850e5d19ecd9 — 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) | $4,752,386 | $4,752,386.3 | recomputes, within the form's whole-dollar rounding (difference −$0.3) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $351,919 | $351,918.6015 | recomputes, within the form's whole-dollar rounding (difference $0.3985) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $4,400,467 | $4,400,467 | recomputes exactly |
Where the assets sit, at fair market value
| Part II line | Fair market value | Share of assets |
|---|---|---|
| Cash (line 1) | $18,640 | <0.1% |
| Savings and temporary cash investments (line 2) | $3.2M | 3.3% |
| Corporate stock (line 10b) | $39.2M | 40.2% |
| Corporate bonds (line 10c) | $8.9M | 9.1% |
| Other investments (line 13) | $46.2M | 47.4% |
The ten largest listed stocks, of 346 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 148.5 equal holdings; the ten largest are 17.4% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| 594918104 MICROSOFT CORP | $1.3M | 1.3% |
| 037833100 APPLE INC | $969,877 | 1.0% |
| 02079K305 ALPHABET INC CL A | $908,451 | 0.9% |
| 023135106 AMAZON.COM INC | $737,370 | 0.8% |
| 67066G104 NVIDIA CORP | $680,045 | 0.7% |
| 30303M102 FACEBOOK INC A | $513,492 | 0.5% |
| 11135F101 BROADCOM INC | $512,830 | 0.5% |
| 771195104 ROCHE HOLDINGS LTD S | $418,211 | 0.4% |
| 23304Y100 DBS GROUP HLDGS LTD | $400,125 | 0.4% |
| 46625H100 J P MORGAN CHASE CO | $353,093 | 0.4% |
Largest other investments (line 13), as listed
| 464287200 ISHARES CORE S P 500 | $9.7M | 9.9% |
| 46090E103 INVESCO QQQ TRUST ET | $6.8M | 6.9% |
| 04314H568 ARTISAN HIGH INCOME | $4.6M | 4.7% |
| 46432F842 ISHARES CORE MSCI EA | $4.5M | 4.6% |
| 949915482 ALLSPRING SPECIAL MI | $3.6M | 3.7% |
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 $4,752,386; recomputed $4,752,386.3; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $351,919; recomputed $351,918.60; 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 $4,400,467; recomputed $4,400,467; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $6,046,273 against a distributable amount of $4,400,467 (1.37×). |
| 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 | 346 listed holdings sum to Part II line 10b exactly; the largest is 1.3% 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 11 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. | $351,918 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $4,400,467 | 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 $3,801,909, $950,477 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, $95047726; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $25317885.
- 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)
62a9a628a5e32db1…· 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
850e5d19ecd900ebd63e8a7bcdc7bc8ad65ccf73d5485dd0713b73b8dbd219a3 · recomputed now, matchesreturn Form 990-PF, IRS object
202523159349102802, schema 2024v5.2 — the file as the IRS published it hashes to 50ec7c2d54499c68…source file
202523159349102802_public.xml inside 2025_TEOS_XML_11C.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py 850e5d19ecd9 --fetcharithmetic
kernel@2026-09-15.1 · kernel proof 263b930d58d00b25…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 = 97526924 USD let mix_cash = share(18640 USD, total_assets_fmv) let mix_savings = share(3201987 USD, total_assets_fmv) let mix_stock = share(39184354 USD, total_assets_fmv) let mix_bonds = share(8890758 USD, total_assets_fmv) let mix_other = share(46186931 USD, total_assets_fmv) let net_noncharitable_assets = 95047726 USD let mir_filed = 4752386 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 25317885 USD let excise_filed = 351919 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 4400467 USD let distributable_recomputed = 4752386 USD - 351919 USD + 0 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 6046273 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 = [1312551 USD, 969877 USD, 908451 USD, 737370 USD, 680045 USD, 513492 USD, 512830 USD, 418211 USD, 400125 USD, 353093 USD, 349702 USD, 341493 USD, 331844 USD, 310482 USD, 284419 USD, 281901 USD, 271154 USD, 271060 USD, 269333 USD, 265734 USD, 262235 USD, 259941 USD, 258586 USD, 258565 USD, 256492 USD, 256292 USD, 252960 USD, 251578 USD, 250819 USD, 245001 USD, 238410 USD, 237004 USD, 234128 USD, 229956 USD, 229069 USD, 221171 USD, 218073 USD, 217071 USD, 208739 USD, 208184 USD, 206690 USD, 200223 USD, 199676 USD, 198951 USD, 198716 USD, 194340 USD, 193911 USD, 193182 USD, 191945 USD, 190581 USD, 190299 USD, 189721 USD, 187253 USD, 187181 USD, 183271 USD, 182528 USD, 182133 USD, 177311 USD, 175049 USD, 174253 USD, 170480 USD, 169980 USD, 169211 USD, 167290 USD, 162847 USD, 162786 USD, 161140 USD, 159287 USD, 159120 USD, 156553 USD, 156521 USD, 156391 USD, 155677 USD, 154434 USD, 150537 USD, 149299 USD, 148763 USD, 148712 USD, 148041 USD, 147505 USD, 145808 USD, 145179 USD, 144307 USD, 143428 USD, 143392 USD, 142419 USD, 140903 USD, 139630 USD, 138310 USD, 137399 USD, 136744 USD, 135981 USD, 135876 USD, 135113 USD, 132209 USD, 131864 USD, 131703 USD, 130913 USD, 130310 USD, 130194 USD, 128381 USD, 128253 USD, 127688 USD, 126796 USD, 126547 USD, 125160 USD, 124405 USD, 123314 USD, 122576 USD, 122444 USD, 122010 USD, 120109 USD, 118657 USD, 116948 USD, 116617 USD, 116215 USD, 115727 USD, 115342 USD, 114402 USD, 114362 USD, 113778 USD, 113383 USD, 112605 USD, 112413 USD, 110882 USD, 110670 USD, 110367 USD, 108428 USD, 108334 USD, 107578 USD, 106712 USD, 106645 USD, 106037 USD, 105978 USD, 105688 USD, 104908 USD, 104218 USD, 103194 USD, 102052 USD, 101812 USD, 101573 USD, 100868 USD, 99329 USD, 99012 USD, 97742 USD, 97624 USD, 96910 USD, 96796 USD, 95106 USD, 94953 USD, 94444 USD, 94023 USD, 93912 USD, 93870 USD, 93826 USD, 93192 USD, 92287 USD, 91918 USD, 91808 USD, 91181 USD, 89927 USD, 89789 USD, 89768 USD, 89559 USD, 88354 USD, 88276 USD, 88168 USD, 88005 USD, 86425 USD, 84388 USD, 84084 USD, 83749 USD, 82780 USD, 82140 USD, 81815 USD, 81698 USD, 81208 USD, 81092 USD, 79839 USD, 79195 USD, 78572 USD, 78259 USD, 78232 USD, 78070 USD, 77140 USD, 76199 USD, 75739 USD, 75638 USD, 75528 USD, 75276 USD, 75034 USD, 74829 USD, 74549 USD, 73021 USD, 72588 USD, 71930 USD, 71378 USD, 70774 USD, 70363 USD, 69816 USD, 69463 USD, 69071 USD, 68854 USD, 68716 USD, 68095 USD, 67682 USD, 67370 USD, 67116 USD, 65945 USD, 65529 USD, 65230 USD, 64386 USD, 64054 USD, 63625 USD, 62797 USD, 61177 USD, 61102 USD, 60491 USD, 60328 USD, 60035 USD, 59787 USD, 59494 USD, 59486 USD, 59231 USD, 59079 USD, 58958 USD, 58081 USD, 57986 USD, 57382 USD, 56947 USD, 56744 USD, 56626 USD, 56483 USD, 56256 USD, 55982 USD, 55308 USD, 54976 USD, 54268 USD, 53475 USD, 53273 USD, 52873 USD, 52384 USD, 51808 USD, 51169 USD, 50887 USD, 50562 USD, 48668 USD, 48428 USD, 48344 USD, 46789 USD, 46462 USD, 46404 USD, 46311 USD, 46249 USD, 46089 USD, 45774 USD, 44547 USD, 43567 USD, 42442 USD, 41746 USD, 41543 USD, 41117 USD, 41033 USD, 40750 USD, 39474 USD, 38263 USD, 38211 USD, 38048 USD, 37759 USD, 37276 USD, 36133 USD, 36079 USD, 34769 USD, 34338 USD, 33831 USD, 31723 USD, 31296 USD, 30579 USD, 29782 USD, 29722 USD, 29682 USD, 29393 USD, 28783 USD, 28670 USD, 28399 USD, 28374 USD, 27934 USD, 26792 USD, 26159 USD, 25662 USD, 25306 USD, 24077 USD, 23796 USD, 23736 USD, 22932 USD, 22412 USD, 22289 USD, 22071 USD, 21948 USD, 20864 USD, 20646 USD, 20507 USD, 20478 USD, 20381 USD, 19718 USD, 19024 USD, 18116 USD, 17990 USD, 17800 USD, 17569 USD, 17217 USD, 17195 USD, 16857 USD, 16191 USD, 15213 USD, 15160 USD, 14788 USD, 14657 USD, 14606 USD, 14103 USD, 13891 USD, 13830 USD, 13742 USD, 13696 USD, 13644 USD, 12863 USD, 11568 USD, 10179 USD, 9934 USD, 9773 USD, 9612 USD, 9535 USD, 9432 USD, 9278 USD, 9154 USD, 9142 USD, 9019 USD, 8542 USD, 8173 USD, 7556 USD, 7513 USD, 7274 USD, 7145 USD, 6753 USD, 5002 USD, 378 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([1312551 USD, 969877 USD, 908451 USD, 737370 USD, 680045 USD, 513492 USD, 512830 USD, 418211 USD, 400125 USD, 353093 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": "18640",
"line": "cash",
"label": "Cash (line 1)",
"share": "0.000191126708764033201744371636288"
},
{
"fmv": "3201987",
"line": "savings",
"label": "Savings and temporary cash investments (line 2)",
"share": "0.0328318260094002349546059711675"
},
{
"fmv": "39184354",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.401779861323217781379016936902"
},
{
"fmv": "8890758",
"line": "bonds",
"label": "Corporate bonds (line 10c)",
"share": "0.0911620877123121405941194249088"
},
{
"fmv": "46186931",
"line": "other",
"label": "Other investments (line 13)",
"share": "0.473581336370251972675771051694"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "367070455",
"name": "1923 FUND"
},
"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": "4752386",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "-0.3",
"recomputed": "4752386.3"
},
{
"id": "excise_tax",
"note": null,
"filed": "351919",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "0.3985",
"recomputed": "351918.6015"
},
{
"id": "distributable_amount",
"note": null,
"filed": "4400467",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "4400467"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "25317885",
"grossInvestmentIncome": "25773505",
"netNoncharitableAssets": "95047726",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202523159349102802",
"returnTs": "2025-11-11T16:01:37-05:00",
"operating": false,
"sourceSha256": "50ec7c2d54499c68bde7b35d5462c7e4e97932e773ca04ac96a66aa74e100655",
"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 = 97526924 USD\nlet mix_cash = share(18640 USD, total_assets_fmv)\nlet mix_savings = share(3201987 USD, total_assets_fmv)\nlet mix_stock = share(39184354 USD, total_assets_fmv)\nlet mix_bonds = share(8890758 USD, total_assets_fmv)\nlet mix_other = share(46186931 USD, total_assets_fmv)\nlet net_noncharitable_assets = 95047726 USD\nlet mir_filed = 4752386 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 25317885 USD\nlet excise_filed = 351919 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 4400467 USD\nlet distributable_recomputed = 4752386 USD - 351919 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 6046273 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 = [1312551 USD, 969877 USD, 908451 USD, 737370 USD, 680045 USD, 513492 USD, 512830 USD, 418211 USD, 400125 USD, 353093 USD, 349702 USD, 341493 USD, 331844 USD, 310482 USD, 284419 USD, 281901 USD, 271154 USD, 271060 USD, 269333 USD, 265734 USD, 262235 USD, 259941 USD, 258586 USD, 258565 USD, 256492 USD, 256292 USD, 252960 USD, 251578 USD, 250819 USD, 245001 USD, 238410 USD, 237004 USD, 234128 USD, 229956 USD, 229069 USD, 221171 USD, 218073 USD, 217071 USD, 208739 USD, 208184 USD, 206690 USD, 200223 USD, 199676 USD, 198951 USD, 198716 USD, 194340 USD, 193911 USD, 193182 USD, 191945 USD, 190581 USD, 190299 USD, 189721 USD, 187253 USD, 187181 USD, 183271 USD, 182528 USD, 182133 USD, 177311 USD, 175049 USD, 174253 USD, 170480 USD, 169980 USD, 169211 USD, 167290 USD, 162847 USD, 162786 USD, 161140 USD, 159287 USD, 159120 USD, 156553 USD, 156521 USD, 156391 USD, 155677 USD, 154434 USD, 150537 USD, 149299 USD, 148763 USD, 148712 USD, 148041 USD, 147505 USD, 145808 USD, 145179 USD, 144307 USD, 143428 USD, 143392 USD, 142419 USD, 140903 USD, 139630 USD, 138310 USD, 137399 USD, 136744 USD, 135981 USD, 135876 USD, 135113 USD, 132209 USD, 131864 USD, 131703 USD, 130913 USD, 130310 USD, 130194 USD, 128381 USD, 128253 USD, 127688 USD, 126796 USD, 126547 USD, 125160 USD, 124405 USD, 123314 USD, 122576 USD, 122444 USD, 122010 USD, 120109 USD, 118657 USD, 116948 USD, 116617 USD, 116215 USD, 115727 USD, 115342 USD, 114402 USD, 114362 USD, 113778 USD, 113383 USD, 112605 USD, 112413 USD, 110882 USD, 110670 USD, 110367 USD, 108428 USD, 108334 USD, 107578 USD, 106712 USD, 106645 USD, 106037 USD, 105978 USD, 105688 USD, 104908 USD, 104218 USD, 103194 USD, 102052 USD, 101812 USD, 101573 USD, 100868 USD, 99329 USD, 99012 USD, 97742 USD, 97624 USD, 96910 USD, 96796 USD, 95106 USD, 94953 USD, 94444 USD, 94023 USD, 93912 USD, 93870 USD, 93826 USD, 93192 USD, 92287 USD, 91918 USD, 91808 USD, 91181 USD, 89927 USD, 89789 USD, 89768 USD, 89559 USD, 88354 USD, 88276 USD, 88168 USD, 88005 USD, 86425 USD, 84388 USD, 84084 USD, 83749 USD, 82780 USD, 82140 USD, 81815 USD, 81698 USD, 81208 USD, 81092 USD, 79839 USD, 79195 USD, 78572 USD, 78259 USD, 78232 USD, 78070 USD, 77140 USD, 76199 USD, 75739 USD, 75638 USD, 75528 USD, 75276 USD, 75034 USD, 74829 USD, 74549 USD, 73021 USD, 72588 USD, 71930 USD, 71378 USD, 70774 USD, 70363 USD, 69816 USD, 69463 USD, 69071 USD, 68854 USD, 68716 USD, 68095 USD, 67682 USD, 67370 USD, 67116 USD, 65945 USD, 65529 USD, 65230 USD, 64386 USD, 64054 USD, 63625 USD, 62797 USD, 61177 USD, 61102 USD, 60491 USD, 60328 USD, 60035 USD, 59787 USD, 59494 USD, 59486 USD, 59231 USD, 59079 USD, 58958 USD, 58081 USD, 57986 USD, 57382 USD, 56947 USD, 56744 USD, 56626 USD, 56483 USD, 56256 USD, 55982 USD, 55308 USD, 54976 USD, 54268 USD, 53475 USD, 53273 USD, 52873 USD, 52384 USD, 51808 USD, 51169 USD, 50887 USD, 50562 USD, 48668 USD, 48428 USD, 48344 USD, 46789 USD, 46462 USD, 46404 USD, 46311 USD, 46249 USD, 46089 USD, 45774 USD, 44547 USD, 43567 USD, 42442 USD, 41746 USD, 41543 USD, 41117 USD, 41033 USD, 40750 USD, 39474 USD, 38263 USD, 38211 USD, 38048 USD, 37759 USD, 37276 USD, 36133 USD, 36079 USD, 34769 USD, 34338 USD, 33831 USD, 31723 USD, 31296 USD, 30579 USD, 29782 USD, 29722 USD, 29682 USD, 29393 USD, 28783 USD, 28670 USD, 28399 USD, 28374 USD, 27934 USD, 26792 USD, 26159 USD, 25662 USD, 25306 USD, 24077 USD, 23796 USD, 23736 USD, 22932 USD, 22412 USD, 22289 USD, 22071 USD, 21948 USD, 20864 USD, 20646 USD, 20507 USD, 20478 USD, 20381 USD, 19718 USD, 19024 USD, 18116 USD, 17990 USD, 17800 USD, 17569 USD, 17217 USD, 17195 USD, 16857 USD, 16191 USD, 15213 USD, 15160 USD, 14788 USD, 14657 USD, 14606 USD, 14103 USD, 13891 USD, 13830 USD, 13742 USD, 13696 USD, 13644 USD, 12863 USD, 11568 USD, 10179 USD, 9934 USD, 9773 USD, 9612 USD, 9535 USD, 9432 USD, 9278 USD, 9154 USD, 9142 USD, 9019 USD, 8542 USD, 8173 USD, 7556 USD, 7513 USD, 7274 USD, 7145 USD, 6753 USD, 5002 USD, 378 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([1312551 USD, 969877 USD, 908451 USD, 737370 USD, 680045 USD, 513492 USD, 512830 USD, 418211 USD, 400125 USD, 353093 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": "0.000191126708764033201744371636288",
"mir_filed": "4752386 USD",
"mix_bonds": "0.0911620877123121405941194249088",
"mix_other": "0.473581336370251972675771051694",
"mix_stock": "0.401779861323217781379016936902",
"mix_savings": "0.0328318260094002349546059711675",
"payout_rate": "0.0636130211047868730704825068619",
"stock_count": "346",
"excise_filed": "351919 USD",
"largest_stock": "1312551 USD",
"mir_difference": "-0.3 USD",
"mir_recomputed": "4752386.3 USD",
"payout_coverage": "1.37400712242586979972807431575",
"total_assets_fmv": "97526924 USD",
"excise_difference": "0.3985 USD",
"excise_recomputed": "351918.6015 USD",
"distributable_filed": "4400467 USD",
"stock_concentration": "0.00673616021640809759681286885101",
"top10_share_of_stock": "0.173692923456132516565157613674",
"net_investment_income": "25317885 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "4400467 USD",
"effective_stock_holdings": "148.45252604951058974016465363",
"net_noncharitable_assets": "95047726 USD",
"qualifying_distributions": "6046273 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.0134583451027328617480030437544",
"largest_stock_halved_share_of_assets": "0.00672917255136643087400152187718"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "1312551",
"name": "594918104 MICROSOFT CORP",
"shareOfAssets": "0.0134583451027328617480030437544"
},
{
"fmv": "969877",
"name": "037833100 APPLE INC",
"shareOfAssets": "0.00994471024227114965709366574506"
},
{
"fmv": "908451",
"name": "02079K305 ALPHABET INC CL A",
"shareOfAssets": "0.00931487391112632651061567367797"
},
{
"fmv": "737370",
"name": "023135106 AMAZON.COM INC",
"shareOfAssets": "0.00756068139706733701557120780309"
},
{
"fmv": "680045",
"name": "67066G104 NVIDIA CORP",
"shareOfAssets": "0.0069728949925663604442194854828"
},
{
"fmv": "513492",
"name": "30303M102 FACEBOOK INC A",
"shareOfAssets": "0.0052651306832972605595558412157"
},
{
"fmv": "512830",
"name": "11135F101 BROADCOM INC",
"shareOfAssets": "0.00525834281413407440185440484107"
},
{
"fmv": "418211",
"name": "771195104 ROCHE HOLDINGS LTD S",
"shareOfAssets": "0.00428815944200188247503838017079"
},
{
"fmv": "400125",
"name": "23304Y100 DBS GROUP HLDGS LTD",
"shareOfAssets": "0.00410271321589102923004113202627"
},
{
"fmv": "353093",
"name": "46625H100 J P MORGAN CHASE CO",
"shareOfAssets": "0.00362046689794092142186295140407"
}
],
"count": 346,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "263b930d58d00b25f3b460c9bc5c089b30f797967562ddfad381a208f571efe6",
"otherInvestments": [
{
"fmv": "9689673",
"name": "464287200 ISHARES CORE S P 500",
"shareOfAssets": "0.0993538256164010668479608769369"
},
{
"fmv": "6765618",
"name": "46090E103 INVESCO QQQ TRUST ET",
"shareOfAssets": "0.0693717972690290119270038702338"
},
{
"fmv": "4613613",
"name": "04314H568 ARTISAN HIGH INCOME",
"shareOfAssets": "0.0473060444313818407725029859447"
},
{
"fmv": "4455049",
"name": "46432F842 ISHARES CORE MSCI EA",
"shareOfAssets": "0.0456801959631168106973208752078"
},
{
"fmv": "3632333",
"name": "949915482 ALLSPRING SPECIAL MI",
"shareOfAssets": "0.0372444126300958697313164516498"
}
]
}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.