Sealed proof · filed Form 990-PF

Hildebrand Foundation

EIN 76-0699250, tax year January 1, 2025 to December 31, 2025. 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, for the tax year ended 2025-12-31. The IRS received it on August 11, 2026.

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 distributions1.50×

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 rate7.4%

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

Assets at fair market value$203M

end of the tax year, Part II

Largest listed stock7.5%

Vanguard Index TR

If that stock halved−3.7%

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

Hildebrand Foundation · Form 990-PF, year ended December 31, 2025checking

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/d8d6c5879e46 — 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)	$9,624,793	$9,624,793.2	recomputes, within the form's whole-dollar rounding (difference −$0.2)
Excise tax: 1.39% of net investment income (Part V line 1)	$184,641	$184,640.5388	recomputes, within the form's whole-dollar rounding (difference $0.4612)
Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)	$9,440,152	$9,440,152	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)	$6.7M	3.3%
Savings and temporary cash investments (line 2)	$3.4M	1.7%
U.S. and state government obligations (line 10a)	$14.8M	7.3%
Corporate stock (line 10b)	$123.4M	60.8%
Corporate bonds (line 10c)	$54.8M	27.0%

The ten largest listed stocks, of 73 on the schedule

The schedule ties to Part II line 10b exactly. It behaves like 25.3 equal holdings; the ten largest are 51.5% of the listed stock.

The ten largest listed stocks
Stock, as listed	Fair market value	Share of assets
Vanguard Index TR	$15.2M	7.5%
Nvidia Corp	$7.9M	3.9%
Apple Inc	$7.8M	3.9%
Alphabet, Inc	$6.9M	3.4%
Microsoft Corporation	$5.9M	2.9%
Vanguard FTSE Developed Markets ETF	$5.6M	2.8%
Broadcom Inc	$4.3M	2.1%
Amazon.Com Inc	$3.8M	1.9%
Lam Research Corporation	$3.2M	1.6%
Morgan Stanley	$2.8M	1.4%

What the foundation answered on the form

Part VI-B 4a: did the foundation invest during the year in a manner that would jeopardize its charitable purposes? No
Part VI-B 4b: did it make any investment in a prior year that could jeopardize its charitable purpose and that had not been removed from jeopardy? No
Part VI-B 3a: did it hold more than a 2% direct or indirect interest in any business enterprise? No
Part VI-B 3b: did it have excess business holdings? Not answered (3a is “No”, so the form does not ask 3b. Our note; not part of the seal.)
Part VI-B 2a: did it have undistributed income for prior years? No

Quoted as filed. These are the foundation’s own answers; this page does not test them.

Control statement · nine controls

Nine controls, read from the return.

Each control reads one part of the filed return and states a fact in a fixed vocabulary: agrees, differs, reported, not reported, not applicable, not checked. Whether any of it met a requirement is counsel’s question, not this page’s.

Recomputed each time the page is read; not part of the seal. The seal covers the body above (controls v2, kernel@2026-09-15.1).

This return: 4 agree, 4 reported, 1 not checked.

Control	Reads	Result	Detail
Minimum investment return	Part IX line 6 against 5% of line 5, prorated for a short year	agrees	Filed $9,624,793; recomputed $9,624,793.2; agrees within the form's whole-dollar rounding.
Excise tax	Part V line 1 against 1.39% of net investment income	agrees	Filed $184,641; recomputed $184,640.53; 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 $9,440,152; recomputed $9,440,152; agrees to the dollar.
Payout coverage	Part XI total against Part X line 7	reported	Qualifying distributions $14,184,291 against a distributable amount of $9,440,152 (1.50×).
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 2025: nothing carried into the next year, so nothing from this year falls due by 31 December 2026.
Holdings tie-out	The corporate-stock schedule against Part II line 10b	agrees	73 listed holdings sum to Part II line 10b exactly; the largest is 7.5% 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 August 2026; the original due date was 15 May 2026; the six-month extension window ended 15 November 2026 (a Sunday, so 16 November 2026 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 17, 2027	Excise tax on the year ending 31 December 2026, due with that return by 15 May 2027 (a Saturday, so 17 May 2027 under IRC §7503)	$184,640	Projected under the assumptions below
December 31, 2027	Distributable amount for the year ending 31 December 2026, to be paid out	$9,440,152	Projected under the assumptions below

If net noncharitable-use assets fell 20% over the coming year: what is owed now, nothing from Part XII, is unchanged; the following year’s minimum investment return would be $7,699,834, $1,924,958 less than the projection.

The assumptions, the forward kernel proof, and what was refused

Net noncharitable-use assets for the year ending 31 December 2026 equal this return's Part IX line 5, $192495864; the thirteen-month average is not observable from a filing.
Net investment income for that year equals this return's, $13283492.
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) 66a8aa46c10be693… · 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 d8d6c5879e46a2247e654e27a6eb692338bdf53754100b4c64b06ee1dc885e36 · recomputed now, matches

return Form 990-PF, IRS object 202612239349100831, schema 2025v4.2 — the file as the IRS published it hashes to c05541cb96b07875…

source file 202612239349100831_public.xml inside 2026_TEOS_XML_08A.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py d8d6c5879e46 --fetch

arithmetic kernel@2026-09-15.1 · kernel proof c6d460ba8b7d950b…

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 = 203028746 USD
let mix_cash = share(6720459 USD, total_assets_fmv)
let mix_savings = share(3364922 USD, total_assets_fmv)
let mix_government = share(14784517 USD, total_assets_fmv)
let mix_stock = share(123356283 USD, total_assets_fmv)
let mix_bonds = share(54802565 USD, total_assets_fmv)
let net_noncharitable_assets = 192495864 USD
let mir_filed = 9624793 USD
let mir_recomputed = net_noncharitable_assets * 5%
let mir_difference = mir_filed - mir_recomputed
let net_investment_income = 13283492 USD
let excise_filed = 184641 USD
let excise_recomputed = net_investment_income * 1.39%
let excise_difference = excise_filed - excise_recomputed
let distributable_filed = 9440152 USD
let distributable_recomputed = 9624793 USD - 184641 USD + 0 USD - 0 USD
let distributable_difference = distributable_filed - distributable_recomputed
let qualifying_distributions = 14184291 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 = [15220445 USD, 7860416 USD, 7824675 USD, 6874106 USD, 5946108 USD, 5628235 USD, 4321405 USD, 3796989 USD, 3187714 USD, 2818466 USD, 2670724 USD, 2583197 USD, 2518149 USD, 2337024 USD, 2015093 USD, 1749433 USD, 1738123 USD, 1604058 USD, 1542575 USD, 1534643 USD, 1509184 USD, 1482558 USD, 1424034 USD, 1338054 USD, 1312444 USD, 1211407 USD, 1210279 USD, 1133294 USD, 1130647 USD, 1116474 USD, 1112331 USD, 1093617 USD, 1049138 USD, 1044300 USD, 1037116 USD, 1001641 USD, 989929 USD, 981804 USD, 946924 USD, 944262 USD, 927221 USD, 912421 USD, 909199 USD, 890615 USD, 887382 USD, 878996 USD, 858187 USD, 853377 USD, 851966 USD, 815763 USD, 789733 USD, 765623 USD, 715827 USD, 448216 USD, 396306 USD, 361399 USD, 320863 USD, 309493 USD, 308806 USD, 289024 USD, 286227 USD, 284130 USD, 263513 USD, 262785 USD, 258937 USD, 239244 USD, 237305 USD, 230940 USD, 214074 USD, 212872 USD, 212264 USD, 197891 USD, 124669 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([15220445 USD, 7860416 USD, 7824675 USD, 6874106 USD, 5946108 USD, 5628235 USD, 4321405 USD, 3796989 USD, 3187714 USD, 2818466 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": "6720459",
      "line": "cash",
      "label": "Cash (line 1)",
      "share": "0.0331010220592112606556708969675"
    },
    {
      "fmv": "3364922",
      "line": "savings",
      "label": "Savings and temporary cash investments (line 2)",
      "share": "0.0165736235202871222974504309848"
    },
    {
      "fmv": "14784517",
      "line": "government",
      "label": "U.S. and state government obligations (line 10a)",
      "share": "0.0728198212877697624158108133121"
    },
    {
      "fmv": "123356283",
      "line": "stock",
      "label": "Corporate stock (line 10b)",
      "share": "0.607580381745548485040635575812"
    },
    {
      "fmv": "54802565",
      "line": "bonds",
      "label": "Corporate bonds (line 10c)",
      "share": "0.269925151387183369590432282924"
    }
  ],
  "kind": "public-filing-990pf",
  "lens": "AXIOM",
  "build": {
    "commit": "7dd856f88a5ecf553ea48f52397c50a503af0e0d",
    "digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
  },
  "filer": {
    "ein": "760699250",
    "name": "Hildebrand 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": "9624793",
      "label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
      "verdict": "rounding",
      "difference": "-0.2",
      "recomputed": "9624793.2"
    },
    {
      "id": "excise_tax",
      "note": null,
      "filed": "184641",
      "label": "Excise tax: 1.39% of net investment income (Part V line 1)",
      "verdict": "rounding",
      "difference": "0.4612",
      "recomputed": "184640.5388"
    },
    {
      "id": "distributable_amount",
      "note": null,
      "filed": "9440152",
      "label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
      "verdict": "exact",
      "difference": "0",
      "recomputed": "9440152"
    }
  ],
  "engine": "kernel@2026-09-15.1",
  "source": {
    "form": "990-PF",
    "lines": {
      "netInvestmentIncome": "13283492",
      "grossInvestmentIncome": "13752962",
      "netNoncharitableAssets": "192495864",
      "undistributedCurrentYear": "0"
    },
    "period": {
      "end": "2025-12-31",
      "days": 365,
      "begin": "2025-01-01"
    },
    "amended": false,
    "foreign": {
      "organization": false,
      "meets85PctTest": false
    },
    "objectId": "202612239349100831",
    "returnTs": "2026-08-11T15:21:22-05:00",
    "operating": false,
    "sourceSha256": "c05541cb96b078757776c44cfcf9be0e1b58c51c581a73fcc52d6fa4fd8c4118",
    "returnVersion": "2025v4.2",
    "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 = 203028746 USD\nlet mix_cash = share(6720459 USD, total_assets_fmv)\nlet mix_savings = share(3364922 USD, total_assets_fmv)\nlet mix_government = share(14784517 USD, total_assets_fmv)\nlet mix_stock = share(123356283 USD, total_assets_fmv)\nlet mix_bonds = share(54802565 USD, total_assets_fmv)\nlet net_noncharitable_assets = 192495864 USD\nlet mir_filed = 9624793 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 13283492 USD\nlet excise_filed = 184641 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 9440152 USD\nlet distributable_recomputed = 9624793 USD - 184641 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 14184291 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 = [15220445 USD, 7860416 USD, 7824675 USD, 6874106 USD, 5946108 USD, 5628235 USD, 4321405 USD, 3796989 USD, 3187714 USD, 2818466 USD, 2670724 USD, 2583197 USD, 2518149 USD, 2337024 USD, 2015093 USD, 1749433 USD, 1738123 USD, 1604058 USD, 1542575 USD, 1534643 USD, 1509184 USD, 1482558 USD, 1424034 USD, 1338054 USD, 1312444 USD, 1211407 USD, 1210279 USD, 1133294 USD, 1130647 USD, 1116474 USD, 1112331 USD, 1093617 USD, 1049138 USD, 1044300 USD, 1037116 USD, 1001641 USD, 989929 USD, 981804 USD, 946924 USD, 944262 USD, 927221 USD, 912421 USD, 909199 USD, 890615 USD, 887382 USD, 878996 USD, 858187 USD, 853377 USD, 851966 USD, 815763 USD, 789733 USD, 765623 USD, 715827 USD, 448216 USD, 396306 USD, 361399 USD, 320863 USD, 309493 USD, 308806 USD, 289024 USD, 286227 USD, 284130 USD, 263513 USD, 262785 USD, 258937 USD, 239244 USD, 237305 USD, 230940 USD, 214074 USD, 212872 USD, 212264 USD, 197891 USD, 124669 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([15220445 USD, 7860416 USD, 7824675 USD, 6874106 USD, 5946108 USD, 5628235 USD, 4321405 USD, 3796989 USD, 3187714 USD, 2818466 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": "0.0331010220592112606556708969675",
    "mir_filed": "9624793 USD",
    "mix_bonds": "0.269925151387183369590432282924",
    "mix_stock": "0.607580381745548485040635575812",
    "mix_savings": "0.0165736235202871222974504309848",
    "payout_rate": "0.0736862117723215081649754303292",
    "stock_count": "73",
    "excise_filed": "184641 USD",
    "largest_stock": "15220445 USD",
    "mir_difference": "-0.2 USD",
    "mir_recomputed": "9624793.2 USD",
    "mix_government": "0.0728198212877697624158108133121",
    "payout_coverage": "1.50254900556685951666879940069",
    "total_assets_fmv": "203028746 USD",
    "excise_difference": "0.4612 USD",
    "excise_recomputed": "184640.5388 USD",
    "distributable_filed": "9440152 USD",
    "stock_concentration": "0.0395255695742943142222391167766",
    "top10_share_of_stock": "0.514595263866697410135161092686",
    "net_investment_income": "13283492 USD",
    "distributable_difference": "0 USD",
    "distributable_recomputed": "9440152 USD",
    "effective_stock_holdings": "25.3000781714314841810048165801",
    "net_noncharitable_assets": "192495864 USD",
    "qualifying_distributions": "14184291 USD",
    "undistributed_to_next_year": "0 USD",
    "largest_stock_share_of_assets": "0.0749669458136731042017074764378",
    "largest_stock_halved_share_of_assets": "0.0374834729068365521008537382189"
  },
  "version": 2,
  "holdings": {
    "tie": "exact",
    "top": [
      {
        "fmv": "15220445",
        "name": "Vanguard Index TR",
        "shareOfAssets": "0.0749669458136731042017074764378"
      },
      {
        "fmv": "7860416",
        "name": "Nvidia Corp",
        "shareOfAssets": "0.0387157787006180888296477977557"
      },
      {
        "fmv": "7824675",
        "name": "Apple Inc",
        "shareOfAssets": "0.0385397395893879973035936497386"
      },
      {
        "fmv": "6874106",
        "name": "Alphabet, Inc",
        "shareOfAssets": "0.0338577966688520058139944380093"
      },
      {
        "fmv": "5946108",
        "name": "Microsoft Corporation",
        "shareOfAssets": "0.0292870251978998087295480808417"
      },
      {
        "fmv": "5628235",
        "name": "Vanguard FTSE Developed Markets ETF",
        "shareOfAssets": "0.0277213700566322761014344244632"
      },
      {
        "fmv": "4321405",
        "name": "Broadcom Inc",
        "shareOfAssets": "0.0212846953209276089406571028124"
      },
      {
        "fmv": "3796989",
        "name": "Amazon.Com Inc",
        "shareOfAssets": "0.0187017310346782125128231841613"
      },
      {
        "fmv": "3187714",
        "name": "Lam Research Corporation",
        "shareOfAssets": "0.0157008013042645695107627764198"
      },
      {
        "fmv": "2818466",
        "name": "Morgan Stanley",
        "shareOfAssets": "0.0138821031776455931023678784875"
      }
    ],
    "count": 73,
    "schedule": "Corporate stock (line 10b)"
  },
  "refusals": [],
  "blankLines": [],
  "kernelProof": "c6d460ba8b7d950b34a9a43e4f30dae49f99f38c6d151835cf92638d328ae886",
  "otherInvestments": []
}

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.