Sealed proof · filed Form 990-PF
EWING MARION KAUFFMAN FOUNDATION
EIN 43-6064859, 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 12, 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 distributions0.92×
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 rate4.6%
of net noncharitable-use assets; the legal test is the distributable amount, not this rate
Assets at fair market value$3.03B
end of the tax year, Part II
Largest listed stock0.9%
VISA INC
If that stock halved−0.4%
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
EWING MARION KAUFFMAN 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/a3fc39fec5f0 — 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) | $148,162,958 | $148,162,957.55 | recomputes, within the form's whole-dollar rounding (difference $0.45) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $2,491,177 | $2,491,176.6955 | recomputes, within the form's whole-dollar rounding (difference $0.3045) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $147,531,242 | $147,531,242 | recomputes exactly |
Where the assets sit, at fair market value
| Part II line | Fair market value | Share of assets |
|---|---|---|
| Savings and temporary cash investments (line 2) | $87.5M | 2.9% |
| Corporate stock (line 10b) | $1.17B | 38.7% |
| Other investments (line 13) | $1.76B | 58.0% |
The ten largest listed stocks, of 298 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 142.1 equal holdings; the ten largest are 17.4% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| VISA INC | $26.3M | 0.9% |
| ALPHABET INC | $25.5M | 0.8% |
| ST JAMES S | $23.7M | 0.8% |
| DSV A/S | $23.1M | 0.8% |
| YUM CHINA HOLDINGS | $20.1M | 0.7% |
| BROADCOM INC | $18M | 0.6% |
| NVIDIA CORP | $17.5M | 0.6% |
| S+P GLOBAL INC | $16.7M | 0.6% |
| ANHEUSER BUSCH INBEV SA/NV | $16.3M | 0.5% |
| AMAZON.COM INC | $16.3M | 0.5% |
Largest other investments (line 13), as listed
| ATALAN PARTNERS, L.P. | $120.7M | 4.0% |
| MILLSTREET CREDIT | $111.7M | 3.7% |
| SOLEL CAPITAL PARTNERS (OFFSHORE) L.P. | $102.4M | 3.4% |
| BESSEMER VENTURE PARTNERS VIII | $93.8M | 3.1% |
| HEARD HIGH CONVICTION LONG ONLY FUND | $92.1M | 3.0% |
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 $148,162,958; recomputed $148,162,957.55; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $2,491,177; recomputed $2,491,176.69; 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 $147,531,242; recomputed $147,531,242; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $136,382,818 against a distributable amount of $147,531,242 (0.92×). |
| 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 | 298 listed holdings sum to Part II line 10b exactly; the largest is 0.9% 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 12 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. | $2,491,176 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $145,671,780 | 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 $118,530,366, $29,632,591 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, $2963259151; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $179221345.
- 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)
26acfce4b7e35064…· 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
a3fc39fec5f0fdd52dcb1f23ca36509c163bd6ea9f2cedd29bac6a412a206720 · recomputed now, matchesreturn Form 990-PF, IRS object
202523169349103332, schema 2024v5.2 — the file as the IRS published it hashes to c739946dcb30fe13…source file
202523169349103332_public.xml inside 2025_TEOS_XML_11C.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py a3fc39fec5f0 --fetcharithmetic
kernel@2026-09-15.1 · kernel proof db6ac9942b3c3072…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 = 3030814487 USD let mix_savings = share(87494427 USD, total_assets_fmv) let mix_stock = share(1172234878 USD, total_assets_fmv) let mix_other = share(1757456817 USD, total_assets_fmv) let net_noncharitable_assets = 2963259151 USD let mir_filed = 148162958 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 179221345 USD let excise_filed = 2491177 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 147531242 USD let distributable_recomputed = 148162958 USD - 2491177 USD + 1859461 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 136382818 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 = [26326764 USD, 25540887 USD, 23742560 USD, 23125021 USD, 20105050 USD, 18041789 USD, 17461729 USD, 16725341 USD, 16282102 USD, 16253289 USD, 14673319 USD, 13977272 USD, 12898726 USD, 12398349 USD, 12326567 USD, 10747537 USD, 10621955 USD, 10397246 USD, 10368507 USD, 10180065 USD, 9649414 USD, 9103286 USD, 8873803 USD, 8868277 USD, 8707953 USD, 8609420 USD, 8457228 USD, 8369634 USD, 8277082 USD, 7953697 USD, 7846905 USD, 7703446 USD, 7629438 USD, 7539593 USD, 7398383 USD, 7321760 USD, 7320018 USD, 7223752 USD, 6914396 USD, 6869578 USD, 6587696 USD, 6582093 USD, 6334150 USD, 6279985 USD, 6255365 USD, 6064225 USD, 6052395 USD, 5978556 USD, 5925136 USD, 5922949 USD, 5917104 USD, 5883647 USD, 5874764 USD, 5845743 USD, 5728378 USD, 5636817 USD, 5616427 USD, 5599248 USD, 5588548 USD, 5566582 USD, 5544432 USD, 5543591 USD, 5530272 USD, 5519571 USD, 5439786 USD, 5428052 USD, 5424915 USD, 5415669 USD, 5378421 USD, 5292560 USD, 5245427 USD, 5238572 USD, 5181019 USD, 5179137 USD, 5158924 USD, 5105537 USD, 5033025 USD, 5017825 USD, 4997850 USD, 4944971 USD, 4937974 USD, 4885714 USD, 4874055 USD, 4866207 USD, 4766847 USD, 4763904 USD, 4711431 USD, 4704318 USD, 4675369 USD, 4640808 USD, 4532069 USD, 4366693 USD, 4353877 USD, 4321955 USD, 4317911 USD, 4263618 USD, 4108068 USD, 4105594 USD, 4103902 USD, 4089085 USD, 4077701 USD, 4071092 USD, 4045546 USD, 4038439 USD, 3992883 USD, 3912193 USD, 3871305 USD, 3870307 USD, 3869503 USD, 3817865 USD, 3814712 USD, 3811280 USD, 3771643 USD, 3771321 USD, 3744569 USD, 3738268 USD, 3663481 USD, 3658013 USD, 3650033 USD, 3628248 USD, 3626907 USD, 3624582 USD, 3549928 USD, 3533628 USD, 3427885 USD, 3418285 USD, 3409727 USD, 3398737 USD, 3388974 USD, 3385363 USD, 3374094 USD, 3312103 USD, 3263309 USD, 3231061 USD, 3182892 USD, 3181786 USD, 3112501 USD, 3098172 USD, 3082831 USD, 3037765 USD, 2988817 USD, 2981940 USD, 2976134 USD, 2974823 USD, 2972389 USD, 2914559 USD, 2885973 USD, 2874872 USD, 2870730 USD, 2860448 USD, 2846457 USD, 2835236 USD, 2774851 USD, 2772324 USD, 2761214 USD, 2697668 USD, 2687832 USD, 2686108 USD, 2663613 USD, 2623073 USD, 2576026 USD, 2571233 USD, 2556908 USD, 2550488 USD, 2525897 USD, 2509151 USD, 2499402 USD, 2448997 USD, 2434948 USD, 2432002 USD, 2392098 USD, 2391870 USD, 2377468 USD, 2355115 USD, 2303158 USD, 2250761 USD, 2225044 USD, 2219619 USD, 2205515 USD, 2170028 USD, 2142793 USD, 2107462 USD, 2099160 USD, 2064867 USD, 2034097 USD, 1999438 USD, 1998635 USD, 1982130 USD, 1935566 USD, 1895240 USD, 1893224 USD, 1869929 USD, 1855536 USD, 1845858 USD, 1818650 USD, 1804438 USD, 1750360 USD, 1740837 USD, 1732396 USD, 1719631 USD, 1657709 USD, 1645751 USD, 1643222 USD, 1640520 USD, 1638350 USD, 1623723 USD, 1620404 USD, 1614183 USD, 1612075 USD, 1600296 USD, 1579869 USD, 1579457 USD, 1559638 USD, 1558373 USD, 1515674 USD, 1512943 USD, 1511960 USD, 1499192 USD, 1465866 USD, 1451001 USD, 1434831 USD, 1425931 USD, 1392792 USD, 1363373 USD, 1343018 USD, 1337609 USD, 1320199 USD, 1319213 USD, 1267823 USD, 1257088 USD, 1242616 USD, 1171800 USD, 1171066 USD, 1166841 USD, 1160522 USD, 1148446 USD, 1144129 USD, 1134459 USD, 1115093 USD, 1080883 USD, 1059984 USD, 1025000 USD, 949464 USD, 939369 USD, 920532 USD, 917843 USD, 909368 USD, 907591 USD, 904806 USD, 898710 USD, 873648 USD, 852727 USD, 793471 USD, 792019 USD, 780188 USD, 776075 USD, 775127 USD, 774248 USD, 770081 USD, 762266 USD, 750947 USD, 740900 USD, 664126 USD, 655567 USD, 603972 USD, 601915 USD, 586431 USD, 585511 USD, 551206 USD, 550744 USD, 540844 USD, 537744 USD, 439443 USD, 415543 USD, 407540 USD, 396739 USD, 389811 USD, 384238 USD, 370767 USD, 345543 USD, 336665 USD, 193046 USD, 192334 USD, 192204 USD, 191958 USD, 190942 USD, 186858 USD, 186304 USD, 184955 USD, 183431 USD, 177278 USD, 175004 USD, 174556 USD, 170853 USD, 166267 USD, 163468 USD, 148471 USD, 116429 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([26326764 USD, 25540887 USD, 23742560 USD, 23125021 USD, 20105050 USD, 18041789 USD, 17461729 USD, 16725341 USD, 16282102 USD, 16253289 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": "87494427",
"line": "savings",
"label": "Savings and temporary cash investments (line 2)",
"share": "0.0288682884997705238961397375688"
},
{
"fmv": "1172234878",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.38677223004840414701370008332"
},
{
"fmv": "1757456817",
"line": "other",
"label": "Other investments (line 13)",
"share": "0.579862879941420842231839312176"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "436064859",
"name": "EWING MARION KAUFFMAN 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": "148162958",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "0.45",
"recomputed": "148162957.55"
},
{
"id": "excise_tax",
"note": null,
"filed": "2491177",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "0.3045",
"recomputed": "2491176.6955"
},
{
"id": "distributable_amount",
"note": null,
"filed": "147531242",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "147531242"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "179221345",
"grossInvestmentIncome": "217252579",
"netNoncharitableAssets": "2963259151",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202523169349103332",
"returnTs": "2025-11-12T17:44:38-06:00",
"operating": false,
"sourceSha256": "c739946dcb30fe133108ca9b8f492f6347768fc86f7b9aef1ebfeab4fa6707da",
"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 = 3030814487 USD\nlet mix_savings = share(87494427 USD, total_assets_fmv)\nlet mix_stock = share(1172234878 USD, total_assets_fmv)\nlet mix_other = share(1757456817 USD, total_assets_fmv)\nlet net_noncharitable_assets = 2963259151 USD\nlet mir_filed = 148162958 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 179221345 USD\nlet excise_filed = 2491177 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 147531242 USD\nlet distributable_recomputed = 148162958 USD - 2491177 USD + 1859461 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 136382818 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 = [26326764 USD, 25540887 USD, 23742560 USD, 23125021 USD, 20105050 USD, 18041789 USD, 17461729 USD, 16725341 USD, 16282102 USD, 16253289 USD, 14673319 USD, 13977272 USD, 12898726 USD, 12398349 USD, 12326567 USD, 10747537 USD, 10621955 USD, 10397246 USD, 10368507 USD, 10180065 USD, 9649414 USD, 9103286 USD, 8873803 USD, 8868277 USD, 8707953 USD, 8609420 USD, 8457228 USD, 8369634 USD, 8277082 USD, 7953697 USD, 7846905 USD, 7703446 USD, 7629438 USD, 7539593 USD, 7398383 USD, 7321760 USD, 7320018 USD, 7223752 USD, 6914396 USD, 6869578 USD, 6587696 USD, 6582093 USD, 6334150 USD, 6279985 USD, 6255365 USD, 6064225 USD, 6052395 USD, 5978556 USD, 5925136 USD, 5922949 USD, 5917104 USD, 5883647 USD, 5874764 USD, 5845743 USD, 5728378 USD, 5636817 USD, 5616427 USD, 5599248 USD, 5588548 USD, 5566582 USD, 5544432 USD, 5543591 USD, 5530272 USD, 5519571 USD, 5439786 USD, 5428052 USD, 5424915 USD, 5415669 USD, 5378421 USD, 5292560 USD, 5245427 USD, 5238572 USD, 5181019 USD, 5179137 USD, 5158924 USD, 5105537 USD, 5033025 USD, 5017825 USD, 4997850 USD, 4944971 USD, 4937974 USD, 4885714 USD, 4874055 USD, 4866207 USD, 4766847 USD, 4763904 USD, 4711431 USD, 4704318 USD, 4675369 USD, 4640808 USD, 4532069 USD, 4366693 USD, 4353877 USD, 4321955 USD, 4317911 USD, 4263618 USD, 4108068 USD, 4105594 USD, 4103902 USD, 4089085 USD, 4077701 USD, 4071092 USD, 4045546 USD, 4038439 USD, 3992883 USD, 3912193 USD, 3871305 USD, 3870307 USD, 3869503 USD, 3817865 USD, 3814712 USD, 3811280 USD, 3771643 USD, 3771321 USD, 3744569 USD, 3738268 USD, 3663481 USD, 3658013 USD, 3650033 USD, 3628248 USD, 3626907 USD, 3624582 USD, 3549928 USD, 3533628 USD, 3427885 USD, 3418285 USD, 3409727 USD, 3398737 USD, 3388974 USD, 3385363 USD, 3374094 USD, 3312103 USD, 3263309 USD, 3231061 USD, 3182892 USD, 3181786 USD, 3112501 USD, 3098172 USD, 3082831 USD, 3037765 USD, 2988817 USD, 2981940 USD, 2976134 USD, 2974823 USD, 2972389 USD, 2914559 USD, 2885973 USD, 2874872 USD, 2870730 USD, 2860448 USD, 2846457 USD, 2835236 USD, 2774851 USD, 2772324 USD, 2761214 USD, 2697668 USD, 2687832 USD, 2686108 USD, 2663613 USD, 2623073 USD, 2576026 USD, 2571233 USD, 2556908 USD, 2550488 USD, 2525897 USD, 2509151 USD, 2499402 USD, 2448997 USD, 2434948 USD, 2432002 USD, 2392098 USD, 2391870 USD, 2377468 USD, 2355115 USD, 2303158 USD, 2250761 USD, 2225044 USD, 2219619 USD, 2205515 USD, 2170028 USD, 2142793 USD, 2107462 USD, 2099160 USD, 2064867 USD, 2034097 USD, 1999438 USD, 1998635 USD, 1982130 USD, 1935566 USD, 1895240 USD, 1893224 USD, 1869929 USD, 1855536 USD, 1845858 USD, 1818650 USD, 1804438 USD, 1750360 USD, 1740837 USD, 1732396 USD, 1719631 USD, 1657709 USD, 1645751 USD, 1643222 USD, 1640520 USD, 1638350 USD, 1623723 USD, 1620404 USD, 1614183 USD, 1612075 USD, 1600296 USD, 1579869 USD, 1579457 USD, 1559638 USD, 1558373 USD, 1515674 USD, 1512943 USD, 1511960 USD, 1499192 USD, 1465866 USD, 1451001 USD, 1434831 USD, 1425931 USD, 1392792 USD, 1363373 USD, 1343018 USD, 1337609 USD, 1320199 USD, 1319213 USD, 1267823 USD, 1257088 USD, 1242616 USD, 1171800 USD, 1171066 USD, 1166841 USD, 1160522 USD, 1148446 USD, 1144129 USD, 1134459 USD, 1115093 USD, 1080883 USD, 1059984 USD, 1025000 USD, 949464 USD, 939369 USD, 920532 USD, 917843 USD, 909368 USD, 907591 USD, 904806 USD, 898710 USD, 873648 USD, 852727 USD, 793471 USD, 792019 USD, 780188 USD, 776075 USD, 775127 USD, 774248 USD, 770081 USD, 762266 USD, 750947 USD, 740900 USD, 664126 USD, 655567 USD, 603972 USD, 601915 USD, 586431 USD, 585511 USD, 551206 USD, 550744 USD, 540844 USD, 537744 USD, 439443 USD, 415543 USD, 407540 USD, 396739 USD, 389811 USD, 384238 USD, 370767 USD, 345543 USD, 336665 USD, 193046 USD, 192334 USD, 192204 USD, 191958 USD, 190942 USD, 186858 USD, 186304 USD, 184955 USD, 183431 USD, 177278 USD, 175004 USD, 174556 USD, 170853 USD, 166267 USD, 163468 USD, 148471 USD, 116429 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([26326764 USD, 25540887 USD, 23742560 USD, 23125021 USD, 20105050 USD, 18041789 USD, 17461729 USD, 16725341 USD, 16282102 USD, 16253289 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": {
"mir_filed": "148162958 USD",
"mix_other": "0.579862879941420842231839312176",
"mix_stock": "0.38677223004840414701370008332",
"mix_savings": "0.0288682884997705238961397375688",
"payout_rate": "0.0460246002965941739194176878119",
"stock_count": "298",
"excise_filed": "2491177 USD",
"largest_stock": "26326764 USD",
"mir_difference": "0.45 USD",
"mir_recomputed": "148162957.55 USD",
"payout_coverage": "0.924433470166271629435614728981",
"total_assets_fmv": "3030814487 USD",
"excise_difference": "0.3045 USD",
"excise_recomputed": "2491176.6955 USD",
"distributable_filed": "147531242 USD",
"stock_concentration": "0.00703866100690613213419959417325",
"top10_share_of_stock": "0.173689194734913867662620425802",
"net_investment_income": "179221345 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "147531242 USD",
"effective_stock_holdings": "142.072476429654547241847320435",
"net_noncharitable_assets": "2963259151 USD",
"qualifying_distributions": "136382818 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.00868636602897430983541421880501",
"largest_stock_halved_share_of_assets": "0.0043431830144871549177071094025"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "26326764",
"name": "VISA INC",
"shareOfAssets": "0.00868636602897430983541421880501"
},
{
"fmv": "25540887",
"name": "ALPHABET INC",
"shareOfAssets": "0.00842707038307752420347989447894"
},
{
"fmv": "23742560",
"name": "ST JAMES S",
"shareOfAssets": "0.00783372261873446693736883936176"
},
{
"fmv": "23125021",
"name": "DSV A/S",
"shareOfAssets": "0.00762996913839154418691413625937"
},
{
"fmv": "20105050",
"name": "YUM CHINA HOLDINGS",
"shareOfAssets": "0.00663354688524688974142415071543"
},
{
"fmv": "18041789",
"name": "BROADCOM INC",
"shareOfAssets": "0.00595278565461073698503804201989"
},
{
"fmv": "17461729",
"name": "NVIDIA CORP",
"shareOfAssets": "0.00576139815712844716912559749158"
},
{
"fmv": "16725341",
"name": "S+P GLOBAL INC",
"shareOfAssets": "0.00551843112527658971824097658802"
},
{
"fmv": "16282102",
"name": "ANHEUSER BUSCH INBEV SA/NV",
"shareOfAssets": "0.00537218693847427158612496100293"
},
{
"fmv": "16253289",
"name": "AMAZON.COM INC",
"shareOfAssets": "0.00536268025301939240730572633032"
}
],
"count": 298,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "db6ac9942b3c3072a7afb07bb1b297cb132eb4ef03b20c021d4bac7c8fe06010",
"otherInvestments": [
{
"fmv": "120666487",
"name": "ATALAN PARTNERS, L.P.",
"shareOfAssets": "0.0398132210062911712616477275008"
},
{
"fmv": "111728484",
"name": "MILLSTREET CREDIT",
"shareOfAssets": "0.0368641777579044546780272797343"
},
{
"fmv": "102447840",
"name": "SOLEL CAPITAL PARTNERS (OFFSHORE) L.P.",
"shareOfAssets": "0.033802082060590335300188896055"
},
{
"fmv": "93822211",
"name": "BESSEMER VENTURE PARTNERS VIII",
"shareOfAssets": "0.0309561048366468363129478468802"
},
{
"fmv": "92090673",
"name": "HEARD HIGH CONVICTION LONG ONLY FUND",
"shareOfAssets": "0.0303847937229422382657365198215"
}
]
}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.