THE KAREN TOFFLER CHARITABLE TRUST
EIN 91-2085191, 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 KAREN TOFFLER CHARITABLE TRUST. 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 October 15, 2025.
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.
the distributable amount (Part XI ÷ Part X)
undistributed income, Part XII: nothing carried into the next year
of net noncharitable-use assets; the legal test is the distributable amount, not this rate
end of the tax year, Part II
266793.079 SHARES OVERLAY A PORTFOLIO CLASS 2
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
This page’s own short link: paretoalphasystems.com/p/d17468724792 — 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) | $944,738 | $944,737.5 | recomputes, within the form's whole-dollar rounding (difference $0.5) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $24,800 | $24,799.5599 | recomputes, within the form's whole-dollar rounding (difference $0.4401) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $919,938 | $919,938 | 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) | $559,974 | 2.7% |
| Corporate stock (line 10b) | $18.2M | 89.2% |
| Other investments (line 13) | $1.6M | 7.7% |
The ten largest listed stocks, of 67 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 14.8 equal holdings; the ten largest are 67.6% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| 266793.079 SHARES OVERLAY A PORTFOLIO CLASS 2 | $2.7M | 13.3% |
| 295498.722 SHARES AB BD FD INC | $2.4M | 12.0% |
| 97341.931 SHARES AB SUSTAINABLE INTERNATIONAL THEMATIC FUND ADV CL | $1.9M | 9.4% |
| 14371 SHARES ISHARES TRUST ISHARES 7 10 YEAR TREASURY | $1.3M | 6.5% |
| 129042.957 SHARES AB HIGH INCOME FUND CL ADVISOR | $904,591 | 4.4% |
| 95947.815 SHARES OVERLAY B PORTFOLIO CLASS 2 | $868,328 | 4.3% |
| 53082.951 SHARES AB BOND INFLATION STRATEGY CL 1 | $533,484 | 2.6% |
| 60818.528 SHARES AB ALL MARKET REAL RETURN PORTFOLIO CL 1 | $531,554 | 2.6% |
| 2116 SHARES APPLE INC | $529,889 | 2.6% |
| 1231 SHARES MICROSOFT CORP | $518,867 | 2.5% |
Largest other investments (line 13), as listed
| ANGELES PRIVATE PLACEMENT FUND 4, LP | $465,435 | 2.3% |
| ANGELES PRIVATE PLACEMENT FUND 3, LP | $368,369 | 1.8% |
| ANGELES PRIVATE CREDIT FUND, LP | $334,819 | 1.6% |
| ANGELES ABSOLUTE RETURN FUND LTD | $266,739 | 1.3% |
| ANGELES GLOBAL EQUITY OPPORTUNITIES FUND, LLC | $112,173 | 0.6% |
What the foundation answered on the form
- Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes? No
- Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy? No
- Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise? 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.
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 $944,738; recomputed $944,737.5; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $24,800; recomputed $24,799.55; 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 $919,938; recomputed $919,938; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $864,062 against a distributable amount of $919,938 (0.94×). |
| 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 | 67 listed holdings sum to Part II line 10b exactly; the largest is 13.3% 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 15 October 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.
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. | $24,799 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $919,937 | 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 $755,790, $188,947 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, $18894750; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $1784141.
- 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)
a7cc2397d6850a0e…· 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.
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
d1746872479262292586f9a8930a4d4c76e013a3be86d289b308a6dff7e44eaa · recomputed now, matches202522889349100042, schema 2024v5.2 — the file as the IRS published it hashes to 973aa0da4094d905…202522889349100042_public.xml inside 2025_TEOS_XML_11D.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py d17468724792 --fetchkernel@2026-09-15.1 · kernel proof 6200658e6b5e5428…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 = 20375190 USD let mix_savings = share(559974 USD, total_assets_fmv) let mix_stock = share(18174778 USD, total_assets_fmv) let mix_other = share(1571275 USD, total_assets_fmv) let net_noncharitable_assets = 18894750 USD let mir_filed = 944738 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 1784141 USD let excise_filed = 24800 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 919938 USD let distributable_recomputed = 944738 USD - 24800 USD + 0 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 864062 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 = [2705282 USD, 2443774 USD, 1914716 USD, 1328599 USD, 904591 USD, 868328 USD, 533484 USD, 531554 USD, 529889 USD, 518867 USD, 355505 USD, 340888 USD, 333711 USD, 288324 USD, 277744 USD, 220633 USD, 216977 USD, 189850 USD, 155402 USD, 128962 USD, 122923 USD, 109370 USD, 101394 USD, 100612 USD, 100245 USD, 99893 USD, 98971 USD, 97239 USD, 96553 USD, 92317 USD, 92187 USD, 91443 USD, 91378 USD, 86129 USD, 85452 USD, 83917 USD, 82550 USD, 79735 USD, 77012 USD, 76474 USD, 73783 USD, 73691 USD, 71973 USD, 71149 USD, 71075 USD, 69247 USD, 67342 USD, 66587 USD, 66097 USD, 64840 USD, 61684 USD, 53655 USD, 53170 USD, 53025 USD, 51370 USD, 51365 USD, 51301 USD, 50337 USD, 49436 USD, 49377 USD, 49116 USD, 46253 USD, 45892 USD, 45290 USD, 40659 USD, 38448 USD, 35742 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([2705282 USD, 2443774 USD, 1914716 USD, 1328599 USD, 904591 USD, 868328 USD, 533484 USD, 531554 USD, 529889 USD, 518867 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": "559974",
"line": "savings",
"label": "Savings and temporary cash investments (line 2)",
"share": "0.0274831302186629916089126040052"
},
{
"fmv": "18174778",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.892005326085302762820862038587"
},
{
"fmv": "1571275",
"line": "other",
"label": "Other investments (line 13)",
"share": "0.0771170722825161384998127624822"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "912085191",
"name": "THE KAREN TOFFLER CHARITABLE TRUST"
},
"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": "944738",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "0.5",
"recomputed": "944737.5"
},
{
"id": "excise_tax",
"note": null,
"filed": "24800",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "0.4401",
"recomputed": "24799.5599"
},
{
"id": "distributable_amount",
"note": null,
"filed": "919938",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "919938"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "1784141",
"grossInvestmentIncome": "1983980",
"netNoncharitableAssets": "18894750",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202522889349100042",
"returnTs": "2025-10-15T20:36:04-05:00",
"operating": false,
"sourceSha256": "973aa0da4094d9055bb09fcbc3ed8de03ed4bff906f411ee42ed5b5c7a263ff4",
"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 = 20375190 USD\nlet mix_savings = share(559974 USD, total_assets_fmv)\nlet mix_stock = share(18174778 USD, total_assets_fmv)\nlet mix_other = share(1571275 USD, total_assets_fmv)\nlet net_noncharitable_assets = 18894750 USD\nlet mir_filed = 944738 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 1784141 USD\nlet excise_filed = 24800 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 919938 USD\nlet distributable_recomputed = 944738 USD - 24800 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 864062 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 = [2705282 USD, 2443774 USD, 1914716 USD, 1328599 USD, 904591 USD, 868328 USD, 533484 USD, 531554 USD, 529889 USD, 518867 USD, 355505 USD, 340888 USD, 333711 USD, 288324 USD, 277744 USD, 220633 USD, 216977 USD, 189850 USD, 155402 USD, 128962 USD, 122923 USD, 109370 USD, 101394 USD, 100612 USD, 100245 USD, 99893 USD, 98971 USD, 97239 USD, 96553 USD, 92317 USD, 92187 USD, 91443 USD, 91378 USD, 86129 USD, 85452 USD, 83917 USD, 82550 USD, 79735 USD, 77012 USD, 76474 USD, 73783 USD, 73691 USD, 71973 USD, 71149 USD, 71075 USD, 69247 USD, 67342 USD, 66587 USD, 66097 USD, 64840 USD, 61684 USD, 53655 USD, 53170 USD, 53025 USD, 51370 USD, 51365 USD, 51301 USD, 50337 USD, 49436 USD, 49377 USD, 49116 USD, 46253 USD, 45892 USD, 45290 USD, 40659 USD, 38448 USD, 35742 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([2705282 USD, 2443774 USD, 1914716 USD, 1328599 USD, 904591 USD, 868328 USD, 533484 USD, 531554 USD, 529889 USD, 518867 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": "944738 USD",
"mix_other": "0.0771170722825161384998127624822",
"mix_stock": "0.892005326085302762820862038587",
"mix_savings": "0.0274831302186629916089126040052",
"payout_rate": "0.0457302689900633773931912303682",
"stock_count": "67",
"excise_filed": "24800 USD",
"largest_stock": "2705282 USD",
"mir_difference": "0.5 USD",
"mir_recomputed": "944737.5 USD",
"payout_coverage": "0.939261124119234122299546273771",
"total_assets_fmv": "20375190 USD",
"excise_difference": "0.4401 USD",
"excise_recomputed": "24799.5599 USD",
"distributable_filed": "919938 USD",
"stock_concentration": "0.0677033149160169076340365266125",
"top10_share_of_stock": "0.675611223421821163372669531369",
"net_investment_income": "1784141 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "919938 USD",
"effective_stock_holdings": "14.770325518631659503033049475",
"net_noncharitable_assets": "18894750 USD",
"qualifying_distributions": "864062 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.132773338555370526606132261834",
"largest_stock_halved_share_of_assets": "0.0663866692776852633030661309171"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "2705282",
"name": "266793.079 SHARES OVERLAY A PORTFOLIO CLASS 2",
"shareOfAssets": "0.132773338555370526606132261834"
},
{
"fmv": "2443774",
"name": "295498.722 SHARES AB BD FD INC",
"shareOfAssets": "0.119938709773994745570470753892"
},
{
"fmv": "1914716",
"name": "97341.931 SHARES AB SUSTAINABLE INTERNATIONAL THEMATIC FUND ADV CL",
"shareOfAssets": "0.0939729150991966209885650146085"
},
{
"fmv": "1328599",
"name": "14371 SHARES ISHARES TRUST ISHARES 7 10 YEAR TREASURY",
"shareOfAssets": "0.065206704820912099469992672461"
},
{
"fmv": "904591",
"name": "129042.957 SHARES AB HIGH INCOME FUND CL ADVISOR",
"shareOfAssets": "0.0443966902885322787174009174884"
},
{
"fmv": "868328",
"name": "95947.815 SHARES OVERLAY B PORTFOLIO CLASS 2",
"shareOfAssets": "0.0426169277439866818419852771925"
},
{
"fmv": "533484",
"name": "53082.951 SHARES AB BOND INFLATION STRATEGY CL 1",
"shareOfAssets": "0.0261830196430070099959804055815"
},
{
"fmv": "531554",
"name": "60818.528 SHARES AB ALL MARKET REAL RETURN PORTFOLIO CL 1",
"shareOfAssets": "0.0260882965999335466319577878783"
},
{
"fmv": "529889",
"name": "2116 SHARES APPLE INC",
"shareOfAssets": "0.0260065795705463360096273948856"
},
{
"fmv": "518867",
"name": "1231 SHARES MICROSOFT CORP",
"shareOfAssets": "0.0254656275597920804664889014532"
}
],
"count": 67,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "6200658e6b5e54284e37ce267202e2a931389b60a532455a1bc1223b9690b8c9",
"otherInvestments": [
{
"fmv": "465435",
"name": "ANGELES PRIVATE PLACEMENT FUND 4, LP",
"shareOfAssets": "0.0228432225662680936963041817033"
},
{
"fmv": "368369",
"name": "ANGELES PRIVATE PLACEMENT FUND 3, LP",
"shareOfAssets": "0.0180792915305329668091438656523"
},
{
"fmv": "334819",
"name": "ANGELES PRIVATE CREDIT FUND, LP",
"shareOfAssets": "0.0164326811185564404552791900345"
},
{
"fmv": "266739",
"name": "ANGELES ABSOLUTE RETURN FUND LTD",
"shareOfAssets": "0.0130913625836127172311031210016"
},
{
"fmv": "112173",
"name": "ANGELES GLOBAL EQUITY OPPORTUNITIES FUND, LLC",
"shareOfAssets": "0.00550537197444539167487517907808"
}
]
}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.