Sealed proof · filed Form 990-PF

The Terry Foundation

EIN 31-1551093, 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 TERRY 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 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 distributions1.09×

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 rate5.4%

of net noncharitable-use assets; the legal test is the distributable amount, not this rate

Assets at fair market value$491.9M

end of the tax year, Part II

Largest listed stock6.5%

561,882 Pacer US Cash Cows 100 Index

If that stock halved−3.2%

of total assets, from that one name

Keep This Record

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

The Terry Foundation · Form 990-PF, year ended December 31, 2024checking

Minimum investment return (the 5% figure)Excise tax on investment incomeDistributable amount (what had to be paid out)Qualifying distributions (what was paid out)

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/aac675c2a3b0 — it fits on a printed page, and whoever opens it can run the same check.

The return’s own arithmetic, re-done

Each line as filed and as recomputed
Line	As filed	Recomputed	Result
Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)	$24,563,952	$24,563,951.75	recomputes, within the form's whole-dollar rounding (difference $0.25)
Excise tax: 1.39% of net investment income (Part V line 1)	$388,890	$388,890.2524	recomputes, within the form's whole-dollar rounding (difference −$0.2524)
Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)	$24,164,160	$24,164,160	recomputes exactly

Where the assets sit, at fair market value

Assets by Part II line, at fair market value
Part II line	Fair market value	Share of assets
Cash (line 1)	$13,498	<0.1%
Savings and temporary cash investments (line 2)	$24.9M	5.1%
U.S. and state government obligations (line 10a)	$13.7M	2.8%
Corporate stock (line 10b)	$211.6M	43.0%
Corporate bonds (line 10c)	$45.7M	9.3%
Other investments (line 13)	$196M	39.8%

The ten largest listed stocks, of 180 on the schedule

The schedule ties to Part II line 10b exactly. It behaves like 21.6 equal holdings; the ten largest are 54.5% of the listed stock.

The ten largest listed stocks
Stock, as listed	Fair market value	Share of assets
561,882 Pacer US Cash Cows 100 Index	$31.7M	6.5%
332,392 iShares MSCI Pacific ex Japan ETF	$14.6M	3.0%
395,453 iShares MSCI United Kingdom ETF	$13.4M	2.7%
105,690 VanEck MSCI International Value ETF	$11.2M	2.3%
2,219,501 Virtus Newfleet Multi-Sector ST Bond Fund Class I	$10.1M	2.0%
701,979 Kayne Anderson Energy Infrstctr Fund Inc	$8.9M	1.8%
883,711 Neuberger Brmn nrgy nfrstrctr nd ncm Fnd	$7.8M	1.6%
630,401 PGIM Short-Term Corporate Bond Fund- Class Z	$6.7M	1.4%
106,476 iShares MSCI Emerging Markets ex China ETF	$5.9M	1.2%
778,495 Invesco Senior Floating Rate Fund Class Y	$5.1M	1.0%

Largest other investments (line 13), as listed

Largest other investments, line 13
Blackstone Alternatives Solution IV Fund (Offshore), L.P.	$19.8M	4.0%
Kayne Anderson Core Real Estate, L.P.	$16.2M	3.3%
Kayne Anderson Real Estate Partners VI, L.P.	$15.5M	3.2%
Z Capital Partners I, L.P.	$14.8M	3.0%
Kayne Anderson Real Estate Partners V, L.P.	$11.9M	2.4%

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? 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 $24,563,952; recomputed $24,563,951.75; agrees within the form's whole-dollar rounding.
Excise tax	Part V line 1 against 1.39% of net investment income	agrees	Filed $388,890; recomputed $388,890.25; 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 $24,164,160; recomputed $24,164,160; agrees to the dollar.
Payout coverage	Part XI total against Part X line 7	reported	Qualifying distributions $26,308,190 against a distributable amount of $24,164,160 (1.09×).
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	180 listed holdings sum to Part II line 10b exactly; the largest is 6.5% 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 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.	$388,890	Projected under the assumptions below
December 31, 2026	Distributable amount for the year ending 31 December 2025, to be paid out	$24,175,061	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 $19,651,161, $4,912,790 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, $491279035; the thirteen-month average is not observable from a filing.
Net investment income for that year equals this return's, $27977716.
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) ec50cb9a41859ef2… · 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.

Walk through it with a person →

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 aac675c2a3b06e9eae969d2791697c2876c216bcf7a5d0380f5ed5d934c11e4a · recomputed now, matches

return Form 990-PF, IRS object 202503219349107970, schema 2024v5.2 — the file as the IRS published it hashes to 77f99909624fe75b…

source file 202503219349107970_public.xml inside 2025_TEOS_XML_11A.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py aac675c2a3b0 --fetch

arithmetic kernel@2026-09-15.1 · kernel proof ddcb814a19f8dfa7…

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 superseded

This 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.

Check It at /verifyKeep This Record

The program, and the full body that was hashed

let total_assets_fmv = 491942070 USD
let mix_cash = share(13498 USD, total_assets_fmv)
let mix_savings = share(24896945 USD, total_assets_fmv)
let mix_government = share(13694130 USD, total_assets_fmv)
let mix_stock = share(211625423 USD, total_assets_fmv)
let mix_bonds = share(45708365 USD, total_assets_fmv)
let mix_other = share(195974264 USD, total_assets_fmv)
let net_noncharitable_assets = 491279035 USD
let mir_filed = 24563952 USD
let mir_recomputed = net_noncharitable_assets * 5%
let mir_difference = mir_filed - mir_recomputed
let net_investment_income = 27977716 USD
let excise_filed = 388890 USD
let excise_recomputed = net_investment_income * 1.39%
let excise_difference = excise_filed - excise_recomputed
let distributable_filed = 24164160 USD
let distributable_recomputed = 24563952 USD - 399792 USD + 0 USD - 0 USD
let distributable_difference = distributable_filed - distributable_recomputed
let qualifying_distributions = 26308190 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 = [31735095 USD, 14562094 USD, 13405857 USD, 11161921 USD, 10054340 USD, 8922153 USD, 7803168 USD, 6688552 USD, 5904094 USD, 5138067 USD, 5004868 USD, 4949995 USD, 4734578 USD, 3302058 USD, 3278749 USD, 3262561 USD, 3179987 USD, 3173473 USD, 2585060 USD, 2579426 USD, 2415757 USD, 2401600 USD, 2221326 USD, 2122351 USD, 2102423 USD, 2086387 USD, 1739478 USD, 1551876 USD, 1434811 USD, 1407577 USD, 1399250 USD, 1286443 USD, 1210655 USD, 1191471 USD, 1186789 USD, 1180472 USD, 1101941 USD, 1032825 USD, 1017475 USD, 954038 USD, 887755 USD, 850332 USD, 840675 USD, 832702 USD, 816350 USD, 813398 USD, 801702 USD, 778732 USD, 764873 USD, 713328 USD, 674252 USD, 662970 USD, 662334 USD, 627489 USD, 619206 USD, 614118 USD, 613456 USD, 611131 USD, 598931 USD, 598516 USD, 582969 USD, 552282 USD, 535989 USD, 533569 USD, 522097 USD, 502661 USD, 494705 USD, 480238 USD, 474840 USD, 473785 USD, 458431 USD, 439524 USD, 431143 USD, 426873 USD, 418809 USD, 396336 USD, 395895 USD, 394630 USD, 390631 USD, 383107 USD, 378224 USD, 370847 USD, 308490 USD, 264108 USD, 242501 USD, 216505 USD, 205729 USD, 201470 USD, 193234 USD, 167228 USD, 160014 USD, 154701 USD, 103824 USD, 67251 USD, 66361 USD, 60014 USD, 59824 USD, 56664 USD, 56254 USD, 54684 USD, 52917 USD, 50410 USD, 50219 USD, 49440 USD, 48082 USD, 43328 USD, 42407 USD, 41819 USD, 41275 USD, 38593 USD, 37797 USD, 37551 USD, 37357 USD, 37270 USD, 35280 USD, 34206 USD, 33773 USD, 33407 USD, 33318 USD, 33118 USD, 31510 USD, 31374 USD, 31289 USD, 31087 USD, 30902 USD, 30714 USD, 30164 USD, 30038 USD, 28632 USD, 28495 USD, 27365 USD, 27284 USD, 26706 USD, 25556 USD, 25487 USD, 25360 USD, 25204 USD, 25143 USD, 24508 USD, 24310 USD, 24117 USD, 23961 USD, 23956 USD, 23503 USD, 22810 USD, 21786 USD, 21540 USD, 21329 USD, 21204 USD, 21119 USD, 21077 USD, 19803 USD, 19602 USD, 19254 USD, 18912 USD, 18840 USD, 18713 USD, 18565 USD, 18497 USD, 18360 USD, 18250 USD, 18120 USD, 18065 USD, 17205 USD, 17156 USD, 17096 USD, 16997 USD, 16963 USD, 16917 USD, 16245 USD, 16221 USD, 14798 USD, 14059 USD, 13604 USD, 13459 USD, 13074 USD, 12930 USD, 12605 USD, 12525 USD, 9759 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([31735095 USD, 14562094 USD, 13405857 USD, 11161921 USD, 10054340 USD, 8922153 USD, 7803168 USD, 6688552 USD, 5904094 USD, 5138067 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": "13498",
      "line": "cash",
      "label": "Cash (line 1)",
      "share": "0.0000274381900291633931613126724454"
    },
    {
      "fmv": "24896945",
      "line": "savings",
      "label": "Savings and temporary cash investments (line 2)",
      "share": "0.0506095057086701285783506988943"
    },
    {
      "fmv": "13694130",
      "line": "government",
      "label": "U.S. and state government obligations (line 10a)",
      "share": "0.0278368751832913985177157139661"
    },
    {
      "fmv": "211625423",
      "line": "stock",
      "label": "Corporate stock (line 10b)",
      "share": "0.430183625076017588818943661395"
    },
    {
      "fmv": "45708365",
      "line": "bonds",
      "label": "Corporate bonds (line 10c)",
      "share": "0.0929141209655031129986504305273"
    },
    {
      "fmv": "195974264",
      "line": "other",
      "label": "Other investments (line 13)",
      "share": "0.398368580267997815271216791847"
    }
  ],
  "kind": "public-filing-990pf",
  "lens": "AXIOM",
  "build": {
    "commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
    "digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
  },
  "filer": {
    "ein": "311551093",
    "name": "The Terry 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": "24563952",
      "label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
      "verdict": "rounding",
      "difference": "0.25",
      "recomputed": "24563951.75"
    },
    {
      "id": "excise_tax",
      "note": null,
      "filed": "388890",
      "label": "Excise tax: 1.39% of net investment income (Part V line 1)",
      "verdict": "rounding",
      "difference": "-0.2524",
      "recomputed": "388890.2524"
    },
    {
      "id": "distributable_amount",
      "note": null,
      "filed": "24164160",
      "label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
      "verdict": "exact",
      "difference": "0",
      "recomputed": "24164160"
    }
  ],
  "engine": "kernel@2026-09-15.1",
  "source": {
    "form": "990-PF",
    "lines": {
      "netInvestmentIncome": "27977716",
      "grossInvestmentIncome": "29736764",
      "netNoncharitableAssets": "491279035",
      "undistributedCurrentYear": "0"
    },
    "period": {
      "end": "2024-12-31",
      "days": 366,
      "begin": "2024-01-01"
    },
    "amended": false,
    "foreign": {
      "organization": false,
      "meets85PctTest": false
    },
    "objectId": "202503219349107970",
    "returnTs": "2025-11-17T17:53:58-06:00",
    "operating": false,
    "sourceSha256": "77f99909624fe75b0f67919c09a669b4f9658e3e608f9242dbc12dc250814083",
    "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 = 491942070 USD\nlet mix_cash = share(13498 USD, total_assets_fmv)\nlet mix_savings = share(24896945 USD, total_assets_fmv)\nlet mix_government = share(13694130 USD, total_assets_fmv)\nlet mix_stock = share(211625423 USD, total_assets_fmv)\nlet mix_bonds = share(45708365 USD, total_assets_fmv)\nlet mix_other = share(195974264 USD, total_assets_fmv)\nlet net_noncharitable_assets = 491279035 USD\nlet mir_filed = 24563952 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 27977716 USD\nlet excise_filed = 388890 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 24164160 USD\nlet distributable_recomputed = 24563952 USD - 399792 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 26308190 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 = [31735095 USD, 14562094 USD, 13405857 USD, 11161921 USD, 10054340 USD, 8922153 USD, 7803168 USD, 6688552 USD, 5904094 USD, 5138067 USD, 5004868 USD, 4949995 USD, 4734578 USD, 3302058 USD, 3278749 USD, 3262561 USD, 3179987 USD, 3173473 USD, 2585060 USD, 2579426 USD, 2415757 USD, 2401600 USD, 2221326 USD, 2122351 USD, 2102423 USD, 2086387 USD, 1739478 USD, 1551876 USD, 1434811 USD, 1407577 USD, 1399250 USD, 1286443 USD, 1210655 USD, 1191471 USD, 1186789 USD, 1180472 USD, 1101941 USD, 1032825 USD, 1017475 USD, 954038 USD, 887755 USD, 850332 USD, 840675 USD, 832702 USD, 816350 USD, 813398 USD, 801702 USD, 778732 USD, 764873 USD, 713328 USD, 674252 USD, 662970 USD, 662334 USD, 627489 USD, 619206 USD, 614118 USD, 613456 USD, 611131 USD, 598931 USD, 598516 USD, 582969 USD, 552282 USD, 535989 USD, 533569 USD, 522097 USD, 502661 USD, 494705 USD, 480238 USD, 474840 USD, 473785 USD, 458431 USD, 439524 USD, 431143 USD, 426873 USD, 418809 USD, 396336 USD, 395895 USD, 394630 USD, 390631 USD, 383107 USD, 378224 USD, 370847 USD, 308490 USD, 264108 USD, 242501 USD, 216505 USD, 205729 USD, 201470 USD, 193234 USD, 167228 USD, 160014 USD, 154701 USD, 103824 USD, 67251 USD, 66361 USD, 60014 USD, 59824 USD, 56664 USD, 56254 USD, 54684 USD, 52917 USD, 50410 USD, 50219 USD, 49440 USD, 48082 USD, 43328 USD, 42407 USD, 41819 USD, 41275 USD, 38593 USD, 37797 USD, 37551 USD, 37357 USD, 37270 USD, 35280 USD, 34206 USD, 33773 USD, 33407 USD, 33318 USD, 33118 USD, 31510 USD, 31374 USD, 31289 USD, 31087 USD, 30902 USD, 30714 USD, 30164 USD, 30038 USD, 28632 USD, 28495 USD, 27365 USD, 27284 USD, 26706 USD, 25556 USD, 25487 USD, 25360 USD, 25204 USD, 25143 USD, 24508 USD, 24310 USD, 24117 USD, 23961 USD, 23956 USD, 23503 USD, 22810 USD, 21786 USD, 21540 USD, 21329 USD, 21204 USD, 21119 USD, 21077 USD, 19803 USD, 19602 USD, 19254 USD, 18912 USD, 18840 USD, 18713 USD, 18565 USD, 18497 USD, 18360 USD, 18250 USD, 18120 USD, 18065 USD, 17205 USD, 17156 USD, 17096 USD, 16997 USD, 16963 USD, 16917 USD, 16245 USD, 16221 USD, 14798 USD, 14059 USD, 13604 USD, 13459 USD, 13074 USD, 12930 USD, 12605 USD, 12525 USD, 9759 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([31735095 USD, 14562094 USD, 13405857 USD, 11161921 USD, 10054340 USD, 8922153 USD, 7803168 USD, 6688552 USD, 5904094 USD, 5138067 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": "0.0000274381900291633931613126724454",
    "mir_filed": "24563952 USD",
    "mix_bonds": "0.0929141209655031129986504305273",
    "mix_other": "0.398368580267997815271216791847",
    "mix_stock": "0.430183625076017588818943661395",
    "mix_savings": "0.0506095057086701285783506988943",
    "payout_rate": "0.0535504023696024398842910119297",
    "stock_count": "180",
    "excise_filed": "388890 USD",
    "largest_stock": "31735095 USD",
    "mir_difference": "0.25 USD",
    "mir_recomputed": "24563951.75 USD",
    "mix_government": "0.0278368751832913985177157139661",
    "payout_coverage": "1.08872768596135764702766411082",
    "total_assets_fmv": "491942070 USD",
    "excise_difference": "-0.2524 USD",
    "excise_recomputed": "388890.2524 USD",
    "distributable_filed": "24164160 USD",
    "stock_concentration": "0.0463862626050057251744890272353",
    "top10_share_of_stock": "0.545186581859779673068863753671",
    "net_investment_income": "27977716 USD",
    "distributable_difference": "0 USD",
    "distributable_recomputed": "24164160 USD",
    "effective_stock_holdings": "21.5581067290402060206532384554",
    "net_noncharitable_assets": "491279035 USD",
    "qualifying_distributions": "26308190 USD",
    "undistributed_to_next_year": "0 USD",
    "largest_stock_share_of_assets": "0.06450982124785546395737205399",
    "largest_stock_halved_share_of_assets": "0.032254910623927731978686026995"
  },
  "version": 2,
  "holdings": {
    "tie": "exact",
    "top": [
      {
        "fmv": "31735095",
        "name": "561,882 Pacer US Cash Cows 100 Index",
        "shareOfAssets": "0.06450982124785546395737205399"
      },
      {
        "fmv": "14562094",
        "name": "332,392 iShares MSCI Pacific ex Japan ETF",
        "shareOfAssets": "0.0296012373977285577547779152127"
      },
      {
        "fmv": "13405857",
        "name": "395,453 iShares MSCI United Kingdom ETF",
        "shareOfAssets": "0.0272508854548666675326222861972"
      },
      {
        "fmv": "11161921",
        "name": "105,690 VanEck MSCI International Value ETF",
        "shareOfAssets": "0.0226895028514231360615285454241"
      },
      {
        "fmv": "10054340",
        "name": "2,219,501 Virtus Newfleet Multi-Sector ST Bond Fund Class I",
        "shareOfAssets": "0.0204380568630773944582539972644"
      },
      {
        "fmv": "8922153",
        "name": "701,979 Kayne Anderson Energy Infrstctr Fund Inc",
        "shareOfAssets": "0.0181365927902852463909012701435"
      },
      {
        "fmv": "7803168",
        "name": "883,711 Neuberger Brmn nrgy nfrstrctr nd ncm Fnd",
        "shareOfAssets": "0.0158619652106598648901892045948"
      },
      {
        "fmv": "6688552",
        "name": "630,401 PGIM Short-Term Corporate Bond Fund- Class Z",
        "shareOfAssets": "0.0135962187580338473593039115358"
      },
      {
        "fmv": "5904094",
        "name": "106,476 iShares MSCI Emerging Markets ex China ETF",
        "shareOfAssets": "0.0120016041726213820257332331833"
      },
      {
        "fmv": "5138067",
        "name": "778,495 Invesco Senior Floating Rate Fund Class Y",
        "shareOfAssets": "0.0104444553806914704408183670894"
      }
    ],
    "count": 180,
    "schedule": "Corporate stock (line 10b)"
  },
  "refusals": [],
  "blankLines": [],
  "kernelProof": "ddcb814a19f8dfa7e94af4e5b52635bfe9472801e86e30cb52bd1e72d434b5d4",
  "otherInvestments": [
    {
      "fmv": "19771416",
      "name": "Blackstone Alternatives Solution IV Fund (Offshore), L.P.",
      "shareOfAssets": "0.0401905370687243723635996409089"
    },
    {
      "fmv": "16221249",
      "name": "Kayne Anderson Core Real Estate, L.P.",
      "shareOfAssets": "0.0329739007684380398692065510884"
    },
    {
      "fmv": "15529695",
      "name": "Kayne Anderson Real Estate Partners VI, L.P.",
      "shareOfAssets": "0.0315681376874313676811580680628"
    },
    {
      "fmv": "14780958",
      "name": "Z Capital Partners I, L.P.",
      "shareOfAssets": "0.0300461353102002436994258287363"
    },
    {
      "fmv": "11936479",
      "name": "Kayne Anderson Real Estate Partners V, L.P.",
      "shareOfAssets": "0.0242639931161000318594423119779"
    }
  ]
}

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.