2025-06-23T10:42:44-05:00 2024-08-31 450250958 EIDE BAILLY LLP 2355 E CAMELBACK RD STE 900 PHOENIX AZ 850169065 990PF 2023-09-01 876155073 EMMA ECCLES JONES FOUNDATION EMMA 8015320934 79 SOUTH MAIN 13TH FLOOR SALT LAKE CITY UT 84111 SPENCER F ECCLES TRUSTEE 8015320934 2025-04-22 1 1 KAREN L PECK CPA P00487608 4803151040 2025-06-23 2023 2025-03-06 01:10:19Z X 122045050 X 267961 1155544 1155544 2589243 16806837 2584742 4891508 4487318 8904256 8227604 73000 0 73000 21000 0 21000 2508 0 2508 55863 27932 13966 1108964 827598 281366 103052 17085 0 3900 0 3900 1722036 1702621 14085 3090323 2575236 409825 4989994 4989994 8080317 2575236 5399819 823939 5652368 2771909 1595482 1595482 5113146 5054614 5054614 30721488 31221117 31221117 105156343 122282597 84173837 143762886 160153810 122045050 0 0 X 143762886 160153810 0 0 0 0 143762886 160153810 143762886 160153810 143762886 823939 15566985 160153810 0 160153810 PUBLICLY TRADED SECURITIES 9603276 7425940 2177336 2177336 FULL LIQUIDATION OF OWL 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EUR0.01 8321 8321 ZOETIS INC 125507 125507 5054614 5054614 0 0 CARLYLE GFSP I FMV 3028 3028 CP 2020 CO-INVESTMENT FMV 8706867 6008000 CYNOSURE FERNWEH, LLC FMV 8603619 5593000 CYNOSURE PARTNERS 2020, LP FMV 20941051 14449000 CYNOSURE PARTNERS III FMV 5613881 3874000 CYNOSURE WEALTH PARTNERS, LLC FMV 1961875 1295000 PELION VENTURES V, L.P. FMV 481881 481881 CYNOSURE INVESTMENT PARTNERS, LLC FMV 73077467 49577000 COVARIANCE OFFSHORE FEEDER FMV 2892928 2892928 LEGAL FEES 2508 0 2508 INSURANCE 7027 0 7027 OFFICE EXPENSES 1675 0 1675 PASSTHROUGH DEDUCTIONS 1707946 1702616 0 DUES AND SUBSCRIPTIONS 4903 0 4903 MISCELLANEOUS 485 5 480 PASSTHROUGH INVESTMENT INCOME 4487318 4487318 4487318 PASSTHROUGH NET UNRELATED BUSINESS INCOME 402196 0 402196 TAX REFUND 1994 1994 UNREALIZED GAINS / (LOSSES) 15566985 INVESTMENT MANAGEMENT 55971 41978 13993 INVESTMENT ADVISORY FEES 1047493 785620 261873 INVESTMENT VALUATION 5500 0 5500 THE FOLLOWING DETAILS ARE FOR THE ASSET GROUP OF NON-CONTROLLING INTERESTS IN 6 PRIVATE INVESTMENT HOLDING ENTITIES INCLUDED IN 'INVESTMENTS - OTHER' ON PART II OF THE 990-PF. THE CUMULATIVE INVESTORS' CAPITAL ACCOUNT STATEMENTS AT AUGUST 31, 2024 FOR THE ASSET GROUP NOTED ABOVE WAS $118,915,313 AND WAS NOT A CLEAR REFLECTION OF FAIR MARKET VALUE. THE DISCOUNT BEING CLAIMED FOR LACK OF MARKETABILITY AND LACK OF CONTROL IS $38,119,313. FAIR MARKET VALUE OF $80,796,000 IS SUPPORTED BY AN INDEPENDENT VALUATION REPORT DATED JUNE 30, 2024.A VALUATION REPORT WAS OBTAINED FOR THE PURPOSE OF DETERMINING FAIR MARKET VALUE IN COMPLIANCE WITH THE FIVE PERCENT DISTRIBUTION RULE UNDER SECTION 4942. THE ADJUSTMENTS CONFORM TO USPAP AND HAVE APPLIED APPROPRIATE ADJUSTMENTS FOR LACK OF CONTROL AND LACK OF MARKETABILITY IN ARRIVING AT FAIR MARKET VALUE. ADDITIONAL HOLDINGS NOT SUBJECT TO DISCOUNT ARE INCLUDED ON FORM 990-PF PART II AND IN THE MINIMUM INVESTMENT RETURN CALCULATION. FOREIGN TAXES WITHHELD 17085 17085 0 STATE TAXES 60349 0 0 FEDERAL EXCISE TAX 25618 0 0