THE MAX STENBECK FOUNDATION
EIN 85-1187751, 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 MAX STENBECK 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 May 8, 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
9EQ5HD4I3 KINNEVIK AB CMN CLA
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/f7312d74b394 — 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) | $563,467 | $563,467.05 | recomputes, within the form's whole-dollar rounding (difference −$0.05) |
| Excise tax: 1.39% of net investment income (Part V line 1) | $28,218 | $28,217.6255 | recomputes, within the form's whole-dollar rounding (difference $0.3745) |
| Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7) | $535,249 | $535,249 | 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) | $3.4M | 31.5% |
| Corporate stock (line 10b) | $6.2M | 58.2% |
| Corporate bonds (line 10c) | $1.1M | 10.3% |
The ten largest listed stocks, of 104 on the schedule
The schedule ties to Part II line 10b exactly. It behaves like 2.7 equal holdings; the ten largest are 90.7% of the listed stock.
| Stock, as listed | Fair market value | Share of assets |
|---|---|---|
| 9EQ5HD4I3 KINNEVIK AB CMN CLA | $3.5M | 33.4% |
| 78462F103 SPDR S&P 500 ETF TRU | $1.2M | 11.2% |
| 46434V803 ISHARES TRUST-ISHARE | $269,313 | 2.5% |
| 969251719 WILLIAM BLAIR INTERN | $240,849 | 2.3% |
| 70472Q807 PEAR TREE POLARIS FO | $191,665 | 1.8% |
| 67066G104 NVIDIA CORPORATION C | $45,659 | 0.4% |
| 23135106_1 AMAZON.COM INC CMN | $36,419 | 0.3% |
| 594918104_1 MICROSOFT CORPORAT | $29,084 | 0.3% |
| 37833100 APPLE INC. CMN | $28,798 | 0.3% |
| 30303M102 META PLATFORMS INC-C | $27,519 | 0.3% |
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 $563,467; recomputed $563,467.05; agrees within the form's whole-dollar rounding. |
| Excise tax | Part V line 1 against 1.39% of net investment income | agrees | Filed $28,218; recomputed $28,217.62; 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 $535,249; recomputed $535,249; agrees to the dollar. |
| Payout coverage | Part XI total against Part X line 7 | reported | Qualifying distributions $154,652 against a distributable amount of $535,249 (0.29×). |
| 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 | 104 listed holdings sum to Part II line 10b exactly; the largest is 33.4% 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 8 May 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. | $28,217 | Projected under the assumptions below |
| December 31, 2026 | Distributable amount for the year ending 31 December 2025, to be paid out | $535,249 | 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 $450,773, $112,693 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, $11269341; the thirteen-month average is not observable from a filing.
- Net investment income for that year equals this return's, $2030045.
- 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)
6383c0bfb66f750c…· 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
f7312d74b394a72e4a4a0b3a65e52c2ca6b71a71d64ecf03fb1ba3d90428b628 · recomputed now, matches202501289349102505, schema 2024v5.1 — the file as the IRS published it hashes to 3e47c037c60815fc…202501289349102505_public.xml inside 2025_TEOS_XML_05A.zip at irs.gov — not part of the seal; fetch it yourself with verify_proof.py f7312d74b394 --fetchkernel@2026-09-15.1 · kernel proof 0e423f20fef29f45…b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b · commit f80886675d1e — 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 = 10626968 USD let mix_savings = share(3352615 USD, total_assets_fmv) let mix_stock = share(6184905 USD, total_assets_fmv) let mix_bonds = share(1089448 USD, total_assets_fmv) let net_noncharitable_assets = 11269341 USD let mir_filed = 563467 USD let mir_recomputed = net_noncharitable_assets * 5% let mir_difference = mir_filed - mir_recomputed let net_investment_income = 2030045 USD let excise_filed = 28218 USD let excise_recomputed = net_investment_income * 1.39% let excise_difference = excise_filed - excise_recomputed let distributable_filed = 535249 USD let distributable_recomputed = 563467 USD - 28218 USD + 0 USD - 0 USD let distributable_difference = distributable_filed - distributable_recomputed let qualifying_distributions = 154652 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 = [3546721 USD, 1190792 USD, 269313 USD, 240849 USD, 191665 USD, 45659 USD, 36419 USD, 29084 USD, 28798 USD, 27519 USD, 22952 USD, 17826 USD, 15870 USD, 13731 USD, 13388 USD, 12702 USD, 12692 USD, 12555 USD, 11580 USD, 11063 USD, 11058 USD, 9481 USD, 9216 USD, 9163 USD, 9099 USD, 8861 USD, 7931 USD, 7864 USD, 7572 USD, 7542 USD, 7427 USD, 7421 USD, 7338 USD, 7260 USD, 7245 USD, 7211 USD, 7158 USD, 7063 USD, 7020 USD, 6972 USD, 6802 USD, 6603 USD, 6546 USD, 6530 USD, 6353 USD, 6262 USD, 6157 USD, 6119 USD, 6041 USD, 6005 USD, 5929 USD, 5789 USD, 5753 USD, 5708 USD, 5706 USD, 5664 USD, 5505 USD, 5406 USD, 5386 USD, 5386 USD, 5356 USD, 5132 USD, 5127 USD, 5104 USD, 4836 USD, 4819 USD, 4698 USD, 4684 USD, 4668 USD, 4649 USD, 4288 USD, 4260 USD, 4255 USD, 4206 USD, 4177 USD, 4144 USD, 4074 USD, 4062 USD, 3982 USD, 3890 USD, 3875 USD, 3858 USD, 3706 USD, 3554 USD, 3518 USD, 3460 USD, 3373 USD, 3181 USD, 3180 USD, 3113 USD, 2911 USD, 2779 USD, 2550 USD, 2537 USD, 2522 USD, 2333 USD, 2232 USD, 2221 USD, 2156 USD, 2084 USD, 1671 USD, 1619 USD, 1292 USD, 39 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([3546721 USD, 1190792 USD, 269313 USD, 240849 USD, 191665 USD, 45659 USD, 36419 USD, 29084 USD, 28798 USD, 27519 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": "3352615",
"line": "savings",
"label": "Savings and temporary cash investments (line 2)",
"share": "0.315481800641537642721799858624"
},
{
"fmv": "6184905",
"line": "stock",
"label": "Corporate stock (line 10b)",
"share": "0.582000905620493070083583577178"
},
{
"fmv": "1089448",
"line": "bonds",
"label": "Corporate bonds (line 10c)",
"share": "0.102517293737969287194616564198"
}
],
"kind": "public-filing-990pf",
"lens": "AXIOM",
"build": {
"commit": "f80886675d1e9841aaf04d9ad7d91262ed5fee38",
"digest": "b839212b6742304a91af2ff9e04e24acdb32ac9fd48760e6b89289b532c4c45b"
},
"filer": {
"ein": "851187751",
"name": "THE MAX STENBECK 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": "563467",
"label": "Minimum investment return: 5% of net noncharitable-use assets (Part IX line 6)",
"verdict": "rounding",
"difference": "-0.05",
"recomputed": "563467.05"
},
{
"id": "excise_tax",
"note": null,
"filed": "28218",
"label": "Excise tax: 1.39% of net investment income (Part V line 1)",
"verdict": "rounding",
"difference": "0.3745",
"recomputed": "28217.6255"
},
{
"id": "distributable_amount",
"note": null,
"filed": "535249",
"label": "Distributable amount: minimum investment return − taxes + recoveries − deduction (Part X line 7)",
"verdict": "exact",
"difference": "0",
"recomputed": "535249"
}
],
"engine": "kernel@2026-09-15.1",
"source": {
"form": "990-PF",
"lines": {
"netInvestmentIncome": "2030045",
"grossInvestmentIncome": "2255356",
"netNoncharitableAssets": "11269341",
"undistributedCurrentYear": "0"
},
"period": {
"end": "2024-12-31",
"days": 366,
"begin": "2024-01-01"
},
"amended": false,
"foreign": {
"organization": false,
"meets85PctTest": false
},
"objectId": "202501289349102505",
"returnTs": "2025-05-08T13:01:32-05:00",
"operating": false,
"sourceSha256": "3e47c037c60815fc32de38cd4e2a9f81ee610206f58ad5af6d65fdb8d03632b7",
"returnVersion": "2024v5.1",
"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 = 10626968 USD\nlet mix_savings = share(3352615 USD, total_assets_fmv)\nlet mix_stock = share(6184905 USD, total_assets_fmv)\nlet mix_bonds = share(1089448 USD, total_assets_fmv)\nlet net_noncharitable_assets = 11269341 USD\nlet mir_filed = 563467 USD\nlet mir_recomputed = net_noncharitable_assets * 5%\nlet mir_difference = mir_filed - mir_recomputed\nlet net_investment_income = 2030045 USD\nlet excise_filed = 28218 USD\nlet excise_recomputed = net_investment_income * 1.39%\nlet excise_difference = excise_filed - excise_recomputed\nlet distributable_filed = 535249 USD\nlet distributable_recomputed = 563467 USD - 28218 USD + 0 USD - 0 USD\nlet distributable_difference = distributable_filed - distributable_recomputed\nlet qualifying_distributions = 154652 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 = [3546721 USD, 1190792 USD, 269313 USD, 240849 USD, 191665 USD, 45659 USD, 36419 USD, 29084 USD, 28798 USD, 27519 USD, 22952 USD, 17826 USD, 15870 USD, 13731 USD, 13388 USD, 12702 USD, 12692 USD, 12555 USD, 11580 USD, 11063 USD, 11058 USD, 9481 USD, 9216 USD, 9163 USD, 9099 USD, 8861 USD, 7931 USD, 7864 USD, 7572 USD, 7542 USD, 7427 USD, 7421 USD, 7338 USD, 7260 USD, 7245 USD, 7211 USD, 7158 USD, 7063 USD, 7020 USD, 6972 USD, 6802 USD, 6603 USD, 6546 USD, 6530 USD, 6353 USD, 6262 USD, 6157 USD, 6119 USD, 6041 USD, 6005 USD, 5929 USD, 5789 USD, 5753 USD, 5708 USD, 5706 USD, 5664 USD, 5505 USD, 5406 USD, 5386 USD, 5386 USD, 5356 USD, 5132 USD, 5127 USD, 5104 USD, 4836 USD, 4819 USD, 4698 USD, 4684 USD, 4668 USD, 4649 USD, 4288 USD, 4260 USD, 4255 USD, 4206 USD, 4177 USD, 4144 USD, 4074 USD, 4062 USD, 3982 USD, 3890 USD, 3875 USD, 3858 USD, 3706 USD, 3554 USD, 3518 USD, 3460 USD, 3373 USD, 3181 USD, 3180 USD, 3113 USD, 2911 USD, 2779 USD, 2550 USD, 2537 USD, 2522 USD, 2333 USD, 2232 USD, 2221 USD, 2156 USD, 2084 USD, 1671 USD, 1619 USD, 1292 USD, 39 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([3546721 USD, 1190792 USD, 269313 USD, 240849 USD, 191665 USD, 45659 USD, 36419 USD, 29084 USD, 28798 USD, 27519 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": "563467 USD",
"mix_bonds": "0.102517293737969287194616564198",
"mix_stock": "0.582000905620493070083583577178",
"mix_savings": "0.315481800641537642721799858624",
"payout_rate": "0.0137232514305849827421142017089",
"stock_count": "104",
"excise_filed": "28218 USD",
"largest_stock": "3546721 USD",
"mir_difference": "-0.05 USD",
"mir_recomputed": "563467.05 USD",
"payout_coverage": "0.288934682736446027923452449234",
"total_assets_fmv": "10626968 USD",
"excise_difference": "0.3745 USD",
"excise_recomputed": "28217.6255 USD",
"distributable_filed": "535249 USD",
"stock_concentration": "0.370562746506620601200971929148",
"top10_share_of_stock": "0.906532760001972544444902549029",
"net_investment_income": "2030045 USD",
"distributable_difference": "0 USD",
"distributable_recomputed": "535249 USD",
"effective_stock_holdings": "2.69859830602840606054868907673",
"net_noncharitable_assets": "11269341 USD",
"qualifying_distributions": "154652 USD",
"undistributed_to_next_year": "0 USD",
"largest_stock_share_of_assets": "0.33374721745656898562223957012",
"largest_stock_halved_share_of_assets": "0.16687360872828449281111978506"
},
"version": 2,
"holdings": {
"tie": "exact",
"top": [
{
"fmv": "3546721",
"name": "9EQ5HD4I3 KINNEVIK AB CMN CLA",
"shareOfAssets": "0.33374721745656898562223957012"
},
{
"fmv": "1190792",
"name": "78462F103 SPDR S&P 500 ETF TRU",
"shareOfAssets": "0.112053786178710616235976244588"
},
{
"fmv": "269313",
"name": "46434V803 ISHARES TRUST-ISHARE",
"shareOfAssets": "0.0253424118713823171388113712208"
},
{
"fmv": "240849",
"name": "969251719 WILLIAM BLAIR INTERN",
"shareOfAssets": "0.0226639432809057108292788686293"
},
{
"fmv": "191665",
"name": "70472Q807 PEAR TREE POLARIS FO",
"shareOfAssets": "0.0180357181841518672117954999018"
},
{
"fmv": "45659",
"name": "67066G104 NVIDIA CORPORATION C",
"shareOfAssets": "0.00429652183012125377624172764988"
},
{
"fmv": "36419",
"name": "23135106_1 AMAZON.COM INC CMN",
"shareOfAssets": "0.00342703582056518849026363869732"
},
{
"fmv": "29084",
"name": "594918104_1 MICROSOFT CORPORAT",
"shareOfAssets": "0.00273681072531694835253103236972"
},
{
"fmv": "28798",
"name": "37833100 APPLE INC. CMN",
"shareOfAssets": "0.00270989806311640347463171056881"
},
{
"fmv": "27519",
"name": "30303M102 META PLATFORMS INC-C",
"shareOfAssets": "0.0025895438849538269052847434941"
}
],
"count": 104,
"schedule": "Corporate stock (line 10b)"
},
"refusals": [],
"blankLines": [],
"kernelProof": "0e423f20fef29f45ea5c7b023a55dc631c3d917f7aa4cd618c28e0108e3a626a",
"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.