Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
BEAL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)104 S PECOS
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MIDLAND, TX79701
A Employer identification number

75-6034480
B Telephone number (see instructions)

(432) 571-4960
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$56,345,187J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 217,091 30,047  
4 Dividends and interest from securities... 545,149 545,149  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,273,100
b Gross sales price for all assets on line 6a 15,353,115
7 Capital gain net income (from Part IV, line 2)... 1,273,100
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 7,404,557 7,403,408  
12 Total. Add lines 1 through 11........ 9,439,897 9,251,704  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 12,675 9,506   3,169
c Other professional fees (attach schedule).... Click to see attachment 496,790 372,592   124,197
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 560,805 484,724   0
19 Depreciation (attach schedule) and depletion... 62,523 62,523  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 140,073 139,157   916
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,272,866 1,068,502   128,282
25 Contributions, gifts, grants paid....... 6,711,700 6,711,700
26 Total expenses and disbursements. Add lines 24 and 25 7,984,566 1,068,502   6,839,982
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,455,331
b Net investment income (if negative, enter -0-) 8,183,202
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 2    
2 Savings and temporary cash investments......... 6,963,368 5,409,266 5,409,266
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 31,417,355 Click to see attachment34,489,313 35,346,921
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment1,772,096 Click to see attachment1,709,573 Click to see attachment15,589,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 40,152,821 41,608,152 56,345,187
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 0 0
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 40,152,821 41,608,152
30 Total net assets or fund balances (see instructions)..... 40,152,821 41,608,152
31 Total liabilities and net assets/fund balances (see instructions). 40,152,821 41,608,152
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
40,152,821
2
Enter amount from Part I, line 27a .....................
2
1,455,331
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
41,608,152
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
41,608,152
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a RBC MANAGED ACCOUNT 65 P    
b RBC MANAGED ACCOUNT 65 P    
c RBC MANAGED ACCOUNT 74 P    
d RBC MANAGED ACCOUNT 74 P    
e RBC MANAGED ACCOUNT 07 P    
RBC MANAGED ACCOUNT 07 P    
RBC MANAGED ACCOUNT 08 P    
RBC MANAGED ACCOUNT 08 P    
RBC MANAGED ACCOUNT 23 P    
RBC MANAGED ACCOUNT 23 P    
RBC MANAGED ACCOUNT 63 P    
RBC MANAGED ACCOUNT 63 P    
RBC MANAGED ACCOUNT 69 P    
RBC MANAGED ACCOUNT 69 P    
RBC MANAGED ACCOUNT 03 P    
RBC MANAGED ACCOUNT 03 P    
RBC MANAGED ACCOUNT 08 P    
RBC MANAGED ACCOUNT 08 P    
RBC MANAGED ACCOUNT 32 P    
RBC MANAGED ACCOUNT 32 P    
RBC MANAGED ACCOUNT 42 P    
RBC MANAGED ACCOUNT 42 P    
RBC MANAGED ACCOUNT 57 P    
RBC MANAGED ACCOUNT 57 P    
RBC MANAGED ACCOUNT 60 P    
RBC MANAGED ACCOUNT 60 P    
RBC MANAGED ACCOUNT 71 P    
RBC MANAGED ACCOUNT 71 P    
RBC MANAGED ACCOUNT 72 P    
RBC MANAGED ACCOUNT 72 P    
RBC MANAGED ACCOUNT 73 P    
RBC MANAGED ACCOUNT 73 P    
RBC MANAGED ACCOUNT 77 P    
RBC MANAGED ACCOUNT 77 P    
RBC MANAGED ACCOUNT 79 P    
RBC MANAGED ACCOUNT 79 P    
RBC MANAGED ACCOUNT 80 P    
RBC MANAGED ACCOUNT 80 P    
RBC MANAGED ACCOUNT 84 P    
RBC MANAGED ACCOUNT 84 P    
RBC MANAGED ACCOUNT 60 P    
RBC MANAGED ACCOUNT 60 P    
RBC MANAGED ACCOUNT 16 P    
RBC MANAGED ACCOUNT 16 P    
EDGE CAP MANAGED ACCOUNT P    
PARTNERSHIP LT CAPITAL GAINS P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 15,116   13,238 1,878
b 336,822   205,426 131,396
c 297,321   253,784 43,537
d 415,893   353,144 62,749
e 65,701   83,403 -17,702
330,542   278,027 52,515
60,312   56,912 3,400
887,094   662,796 224,298
1,335,838   1,352,382 -16,544
205,105   209,484 -4,379
190,385   219,564 -29,179
1,149,717   1,034,262 115,455
210,155   231,652 -21,497
375,743   385,835 -10,092
8,206   8,942 -736
317,435   296,948 20,487
1,067,049   1,030,215 36,834
2,571,638   2,531,947 39,691
514,586   484,942 29,644
1,158,756   1,223,226 -64,470
74,077   75,003 -926
177,952   181,670 -3,718
25,523   25,646 -123
350,591   311,425 39,166
38,680   38,462 218
381,654   334,155 47,499
6,357   7,188 -831
173,336   148,390 24,946
51,767   46,134 5,633
121,961   110,367 11,594
98,431   91,829 6,602
123,857   106,502 17,355
41,744   46,234 -4,490
95,263   87,971 7,292
20,270   22,244 -1,974
108,700   82,008 26,692
13,234   13,658 -424
86,023   84,705 1,318
137,626   142,000 -4,374
351,511   348,923 2,588
25,381   24,462 919
193,669   181,585 12,084
131,208   132,361 -1,153
363,554   349,740 13,814
156,449   171,224 -14,775
4,857     4,857
486,026     486,026
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,878
b       131,396
c       43,537
d       62,749
e       -17,702
      52,515
      3,400
      224,298
      -16,544
      -4,379
      -29,179
      115,455
      -21,497
      -10,092
      -736
      20,487
      36,834
      39,691
      29,644
      -64,470
      -926
      -3,718
      -123
      39,166
      218
      47,499
      -831
      24,946
      5,633
      11,594
      6,602
      17,355
      -4,490
      7,292
      -1,974
      26,692
      -424
      1,318
      -4,374
      2,588
      919
      12,084
      -1,153
      13,814
      -14,775
      4,857
      486,026
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,273,100
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 3,303,606 47,566,349 0.069453
2016 2,902,056 41,187,992 0.070459
2015 2,557,531 31,056,087 0.082352
2014 3,644,810 30,036,648 0.121345
2013 1,813,455 20,046,473 0.090463
2
Total of line 1, column (d) .....................
2
0.434072
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.086814
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
60,003,841
5
Multiply line 4 by line 3......................
5
5,209,173
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
81,832
7
Add lines 5 and 6........................
7
5,291,005
8
Enter qualifying distributions from Part XII, line 4,.............
8
6,839,982
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 81,832
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 81,832
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 81,832
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 73,957
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 30,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 103,957
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 22,125
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet22,125 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletTX
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletMR MARK LOWE PROSPERITY BANK Telephone no.bullet (432) 571-4960

    Located atbullet509 W WALL STMIDLANDTX ZIP+4bullet79701
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    CARLTON BEAL JR CHAIRMAN
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    SPENCER BEAL TRUSTEE
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    KELLY BEAL TRUSTEE
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    BARRY BEAL JR TRUSTEE
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    STUART BEAL TRUSTEE
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    LARRY BELL TRUSTEE
    0.00     		0 0 0
    PO BOX 10649
    MIDLAND,TX79702
    ELIZABETH BEAL DAVENPORT TRUSTEE
    0.00     		0 0 0
    1908 NORTH L STREET
    MIDLAND,TX79705
    MARK LOWE CO PROSPERITY BANK SECRETARY/TREASURER
    0.00     		0 0 0
    509 W WALL ST
    MIDLAND,TX79701
    KARLENE BEAL GARBER TRUSTEE
    0.00     		0 0 0
    415 20TH STREET
    SANTA MONICA,CA90402
    STEVE HOFER CO COTTON BLEDSOE TRUSTEE
    0.00     		0 0 0
    PO BOX 50174
    MIDLAND,TX79710
    STEPHEN BEAL TRUSTEE
    0.00     		0 0 0
    104 S PECOS
    MIDLAND,TX79701
    LAURA BUCKNER TRUSTEE
    0.00     		0 0 0
    705 N LORAINE ST
    MIDLAND,TX79701
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    39,196,919
    b
    Average of monthly cash balances.......................
    1b
    6,131,686
    c
    Fair market value of all other assets (see instructions)................
    1c
    15,589,000
    d
    Total (add lines 1a, b, and c).........................
    1d
    60,917,605
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    60,917,605
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    913,764
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    60,003,841
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,000,192
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,000,192
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    81,832
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    81,832
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    2,918,360
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    2,918,360
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    2,918,360
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    6,839,982
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    6,839,982
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    81,832
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    6,758,150
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 2,918,360
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 882,255
    b From 2014...... 2,267,306
    c From 2015...... 1,113,475
    d From 2016...... 914,612
    e From 2017...... 1,100,356
    fTotal of lines 3a through e........ 6,278,004
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 6,839,982
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 2,918,360
    e Remaining amount distributed out of corpus 3,921,622
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 10,199,626
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		882,255
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		9,317,371
    10 Analysis of line 9:
    a Excess from 2014.... 2,267,306
    b Excess from 2015.... 1,113,475
    c Excess from 2016.... 914,612
    d Excess from 2017.... 1,100,356
    e Excess from 2018.... 3,921,622
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    CARLTON BEAL JR
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    SPENCER E BEAL
    104 S PECOS
    MIDLAND,TX79701
    (432) 682-3753
    bThe form in which applications should be submitted and information and materials they should include:
    THE BEAL FOUNDATION HAS APPLICATION FORMS WHICH MAY BE OBTAINED FROM MR. BEAL. INFORMATION REQUIRED IS DETAILED IN THE APPLICATION FORM INSTRUCTIONS. REPEAT RECIPIENTS MUST SUBMIT THEIR APPLICATIONS TWO WEEKS PRIOR TO THE SEMI-ANNUAL TRUSTEE MEETINGS HELD ON APRIL 1 AND NOVEMBER 1. FIRST TIME APPLICANTS MUST SUBMIT THEIR APPLICATIONS FOUR WEEKS PRIOR.
    cAny submission deadlines:
    FOUR WEEKS PRIOR TO APRIL 1 AND NOVEMBER 1 FOR NEW APPLICANTS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NO RESTRICTIONS ON GRANTS; HOWEVER, THE BEAL FOUNDATION GIVES FIRST CONSIDERATION TO CHARITABLE ORGANIZATIONS WITHIN THE MIDLAND, TEXAS AREA. GRANTS ARE BASED ON NEED AND AVAILABILITY OF FUNDS WITHIN THE FOUNDATION.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ABILENE REGIONAL MEDICAL CENTER
    6250 HWY 83-84
    ABILENE,TX79606     		  PC OPERATING FUNDS 10,000
    AGAPE COUNSELING SERVICES OF WEST TEXAS
    3500 NORTH A STREET SUITE 2400
    MIDLAND,TX79705     		  PC OPERATING FUNDS 45,000
    AMERICAN DIABETES ASSOCIATION
    8008 SLIDE RD 12A
    LUBBOCK,TX79242     		  PC OPERATING FUNDS 15,000
    APHASIA CENTER OF WEST TEXAS INC
    5214 THOMASON DR
    MIDLAND,TX79703     		  PC OPERATING FUNDS 15,000
    ASPEN COUNTRY DAY SCHOOL
    85 COUNTRY DAY WAY
    ASPEN,CO81611     		  PC OPERATING FUNDS 10,000
    ASPEN VALLEY HOSPITAL FOUNDATION
    401 CASTLE CREEK RD
    ASPEN,CO81611     		  PC OPERATING FUNDS 10,000
    BIG BROTHERS BIG SISTERS OF MIDLAND INC
    714 W LOUISIANA AVE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 25,000
    BOYS & GIRLS CLUB OF MIDLAND
    PO BOX 284
    MIDLAND,TX79702     		  PC OPERATING FUNDS 12,000
    BREAKING BREAD KITCHEN
    PO BOX 9402
    MIDLAND,TX79708     		  PC OPERATING FUNDS 5,000
    BUCKNER CHILDREN AND FAMILY SERVICES
    425 W PECAN ST
    MIDLAND,TX79705     		  PC OPERATING FUNDS 20,000
    BUSH TENNIS CENTER
    5700 BRIARWOOD AVENUE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 20,000
    BYNUM SCHOOL
    PO BOX 80175
    MIDLAND,TX79708     		  PC OPERATING FUNDS AND CAPITAL FUNDS 26,000
    CASA DE AMIGOS OF MIDLAND
    1101 E GARDEN LANE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 18,000
    CASA OF WEST TEXAS
    1611 W TEXAS AVE
    MIDLAND,TX79701     		  PC CAPITAL FUNDS 50,000
    CENTERS FOR CHILDREN AND FAMILIES
    3701 ANDREWS HWY
    MIDLAND,TX79703     		  PC OPERATING FUNDS 22,000
    CHILDREN'S HOSPITAL - LOS ANGELES
    4650 SUNSET BLVD MS 29
    LOS ANGELES,CA90027     		  PC OPERATING FUNDS 15,000
    CHILDREN'S INSTITUTE INC
    2121 W TEMPLE ST
    LOS ANGELES,CA90026     		  PC OPERATING FUNDS 15,000
    CHINA AID ASSOCIATION
    3107 E 21ST STREET
    ODESSA,TX79761     		  PC OPERATING FUNDS 1,000
    CHRISTMAS IN ACTION MIDLAND
    PO BOX 3744
    MIDLAND,TX79702     		  PC OPERATING FUNDS 12,000
    COM AQUATICS INC
    3003 N A ST
    MIDLAND,TX79705     		  PC CAPITAL FUNDS 42,200
    COMMUNITIES IN SCHOOLS OF THE PERMIAN BASIN
    PO BOX 10532
    MIDLAND,TX79702     		  PC OPERATING FUNDS 20,000
    COMMUNITY BIBLE STUDY
    790 STOUT RD
    COLORADO SPRINGS,CO80921     		  PC OPERATING FUNDS 2,000
    COMMUNITY CHILDREN'S CLINIC
    PO BOX 3328
    MIDLAND,TX79702     		  PC OPERATING FUNDS 20,000
    CRIME STOPPERS OF MIDLAND INC
    PO BOX 1882
    MIDLAND,TX79702     		  PC OPERATING FUNDS 9,000
    CRU
    320 CAROL LANE
    MIDLAND,TX79705     		  PC OPERATING FUNDS 2,000
    EAGLES NEST EARLY LEARNING CENTER
    10655 HIGHWAY 119
    BLACK HAWK,CO80422     		  PC OPERATING EXPENSES 15,000
    EAST WEST MINISTRIES
    2001 W PLANO PKWY STE 3000
    PLANO,TX75075     		  PC OPERATING FUNDS 10,000
    EMMANUEL CHAPEL
    P O BOX 301
    SOUTH FORK,CO81154     		  PC OPERATING FUNDS 15,000
    FAIR HAVENS
    2400 WHITMIRE BLVD STE 100
    MIDLAND,TX79705     		  PC OPERATING FUNDS 10,000
    FAMILY PROMISE OF MIDLAND
    3500 NORTH A STREET
    MIDLAND,TX79705     		  PC OPERATING FUNDS 32,000
    FELLOWSHIP OF CHRISTIAN ATHLETES
    3500 NORTH A STREET STE 2600
    MIDLAND,TX79705     		  PC OPERATING FUNDS 22,000
    FIRST PRESBYTERIAN CHURCH MIDLAND
    800 W TEXAS AVE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 346,000
    FOCUS ON THE FAMILY
    8605 EXPLORER DRIVE
    COLORADO SPRINGS,CO80902     		  PC OPERATING FUNDS 10,000
    FORT CHADBOURNE FOUNDATION
    651 FORT CHADBOURNE ROAD
    BRONTE,TX76933     		  PC OPERATING FUNDS 10,000
    FREE WHEELCHAIR MISSION
    PO BOX 52001 DEPT 921
    PHOENIX,AZ85072     		  PC OPERATING FUNDS 5,000
    GEORGE W BUSH CHILDHOOD HOME INC
    PO BOX 8586
    MIDLAND,TX79708     		  PC CAPITAL FUNDS 5,000
    GLADNEY CENTER FOR ADOPTION
    410 W OHIO AVE STE 203
    MIDLAND,TX79701     		  PC OPERATING FUNDS 5,000
    GUADALUPE RADIO NETWORK LA PROMESA FOUNDATION
    1406 E GARDEN LN
    MIDLAND,TX79701     		  PC OPERATING FUNDS 5,000
    HELPING HANDS OF MIDLAND CO ST STEPHENS
    4601 NEELY AVE
    MIDLAND,TX79707     		  PC OPERATING FUNDS 30,000
    HERITAGE SCHOOL
    310 SMOKEHOUSE RD
    FREDERICKSBURG,TX78624     		  PC OPERATING FUNDS 70,000
    HIGH SKY CHILDREN'S RANCH
    8613 WEST COUNTRY ROAD 60
    MIDLAND,TX79707     		  PC OPERATING FUNDS AND CAPITAL FUNDS 2,250,000
    HILLCREST SCHOOL
    2800 N A ST
    MIDLAND,TX79705     		  PC OPERATING FUNDS AND CAPITAL FUNDS 31,000
    HOSPICE OF MIDLAND
    911 W TEXAS AVE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 5,000
    HOUSTON METHODIST HOSPITAL FOUNDATION
    PO BOX 4384
    HOUSTON,TX77210     		  PC OPERATING FUNDS 10,000
    JUNIOR ACHIEVEMENT OF WEST TEXAS INC
    306 W WALL SUITE 827
    MIDLAND,TX79701     		  PC OPERATING FUNDS 25,000
    KBC MINISTRIES
    16010 UNIVERSITY OAKS SUITE 104
    SAN ANTONIO,TX78249     		  PC OPERATING FUNDS 5,000
    MAKE-A-WISH NORTH TEXAS
    407 N BIG SPRING ST SUITE 208
    MIDLAND,TX79701     		  PC OPERATING FUNDS 20,000
    MANNA HOUSE
    1238 FM 359 NORTH
    BROOKSHIRE,TX77423     		  PC OPERATING EXPENSES 70,000
    MANOR PARKINC
    2208 NORTH LOOP 250 WEST
    MIDLAND,TX79705     		  PC CAPITAL FUNDS 80,000
    MARC INC
    2701 NORTH A ST
    MIDLAND,TX79705     		  PC OPERATING FUNDS AND CAPITAL FUNDS 103,000
    MIDLAND CHILDREN'S REHABILITATION CENTER
    802 VENTURA
    MIDLAND,TX79705     		  PC OPERATING FUNDS 160,000
    MIDLAND COLLEGE
    3600 N GARFIELD ST
    MIDLAND,TX79705     		  PC OPERATING FUNDS AND CAPITAL FUNDS 1,000,000
    MIDLAND COMMUNITY THEATRE INC
    2000 W WADLEY
    MIDLAND,TX79705     		  PC OPERATING FUNDS 10,000
    MIDLAND COUNTY PUBLIC LIBRARY FOUNDATION
    301 W MISSOURI AVE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 15,000
    MIDLAND HABITAT FOR HUMANITY
    PO BOX 2555
    MIDLAND,TX79702     		  PC OPERATING FUNDS 12,000
    MIDLAND ISD EDUCATION FOUNDATION
    PO BOX 73
    MIDLAND,TX79702     		  PC OPERATING FUNDS 15,000
    MIDLAND MEMORIAL FOUNDATION
    400 ROSALIND REDFERN GROVER PARKWAY
    MIDLAND,TX79701     		  PC CAPITAL FUNDS 310,000
    MIDLAND RAPE CRISIS CENTER & CAC
    PO BOX 10081
    MIDLAND,TX79702     		  PC OPERATING FUNDS 65,000
    MIDLAND-ODESSA SYMPHONY & CHORALE INC
    PO BOX 60658
    MIDLAND,TX79711     		  PC OPERATING FUNDS 40,000
    MISSION AGAPE
    PO BOX 3419
    MIDLAND,TX79702     		  PC OPERATING EXPENSES 5,000
    MISSION HEALTH CARE INC
    3500 NORTH A STREET SUITE 1300
    MIDLAND,TX79705     		  PC OPERATING FUNDS 25,000
    MISSION MESSIAH
    1213 W 2ND STREET
    ODESSA,TX79762     		  PC OPERATING FUNDS 5,000
    MUSEUM OF THE SOUTHWEST
    1705 W MISSOURI AVE
    MIDLAND,TX79701     		  PC OPERATING FUNDS 45,000
    ODESSA CHRISTMAS IN ACTION INC
    PO BOX 15075
    ODESSA,TX79768     		  PC CAPITAL FUNDS 8,000
    OILFIELD CHRISTIAN FELLOWSHIP
    4816 RANGEWOOD COURT
    MIDLAND,TX79707     		  PC OPERATING FUNDS 1,000
    OPERATION WALK USA
    9400 W HIGGINS ROAD SUITE 500
    ROSEMONT,IL60018     		  PC OPERATING FUNDS 50,000
    PARTNERS RELIEF AND DEVELOPMENT
    PO BOX 1992
    GRAND RAPIDS,MI495011992     		  PC OPERATING FUNDS 25,000
    PERMIAN BASIN AREA FOUNDATION - AMY BELL FUND
    200 N LORAINE STE 500
    MIDLAND,TX79701     		  PC OPERATING FUNDS 10,000
    PERMIAN BASIN BE THE CHANGE
    PO BOX 52643
    MIDLAND,TX79710     		  PC OPERATING FUNDS 10,000
    PERMIAN BASIN GIFTS OF HOPE
    PO BOX 1323
    MIDLAND,TX79702     		  PC OPERATING FUNDS 20,000
    PERMIAN BASIN PETROLEUM MUSEUM
    1500 INTERSTATE 20 WEST
    MIDLAND,TX79701     		  PC OPERATING FUNDS 10,000
    POLWARTH MINISTRIES
    3512 STURGIS LANE
    WACO,TX76708     		  PC OPERATING FUNDS 20,000
    RECORDING LIBRARY OF WEST TEXAS
    3500 NORTH A STREET SUITE 2800
    MIDLAND,TX79705     		  PC OPERATING FUNDS 15,000
    RED RIVER MINISTRIES
    3112 WINDSOR ROAD SUITE A112
    AUSTIN,TX78703     		  PC OPERATING FUNDS 1,000
    ROCK THE DESERT MINISTRIES INC
    PO BOX 61377
    MIDLAND,TX79711     		  PC OPERATING FUNDS 15,000
    ROPE YOUTH
    3500 W GOLF COURSE ROAD
    MIDLAND,TX79703     		  PC OPERATING FUNDS 25,000
    SAFE PLACE OF THE PERMIAN BASIN
    PO BOX 11331
    MIDLAND,TX79702     		  PC OPERATING FUNDS 47,500
    SALVATION ARMY
    PO BOX 594
    MIDLAND,TX79702     		  PC OPERATING FUNDS 10,000
    SAMARITAN COUNSELING CENTER
    PO BOX 60312
    MIDLAND,TX79711     		  PC OPERATING FUNDS 35,000
    SENIOR LINK MIDLAND
    PO BOX 80519
    MIDLAND,TX79708     		  PC OPERATING FUNDS 30,000
    SIBLEY ENVIRONMENTAL LEARNING CENTER FOUNDATION
    1307 E WADLEY AVE
    MIDLAND,TX79705     		  PC OPERATING FUNDS 10,000
    SOUTHWEST TEXAS PRISON MINISTRY & FAMILY OUTREACH
    PO BOX 683
    IRAAN,TX79744     		  PC OPERATING FUNDS 15,000
    ST JUDE CHILDREN'S RESEARCH HOSPITAL
    262 DANNY THOMAS PLACE
    MEMPHIS,TN38105     		  PC OPERATING EXPENSES 100,000
    ST MARY'S CATHOLIC CHURCH
    533 E MAIN ST
    ASPEN,CO81611     		  PC OPERATING FUNDS 330,000
    STUDENT MOBILIZATION
    PO BOX 567
    CONWAY,AR72033     		  PC OPERATING FUNDSOPERATING FUNDS 3,000
    TEEN CHALLENGE
    PO BOX 251
    MIDLAND,TX79702     		  PC OPERATING FUNDS 40,000
    TEXAS TECH UNIVERSITY HEALTH SCIENCES
    800 WEST 4TH STREET
    ODESSA,TX79763     		  PC OPERATING EXPENSES 40,000
    THE FIELD'S EDGE
    6003 MEADOWVIEW LANE
    MIDLAND,TX79707     		  PC OPERATING FUNDS 15,000
    THE JUNIOR LEAGUE OF MIDLAND INC
    902 W DENGAR AVE
    MIDLAND,TX79705     		  PC OPERATING FUNDS 10,000
    THE MD ANDERSON CANCER CENTER
    PO BOX 4464
    HOUSTON,TX77210     		  PC OPERATING FUNDS 20,000
    THE NAVIGATORS
    6372 MAPLEWOOD DR
    LITTLETON,CO80123     		  PC OPERATING FUNDS 2,000
    THE PERRY INITIATIVE
    130 ACADEMY STREET SPENCER LAB ROOM
    126
    NEWARK,DE19716     		  PC OPERATING EXPENSES 50,000
    THE SPRINGBOARD CENTER
    200 CORPORATE DR
    MIDLAND,TX79705     		  PC CAPITAL FUNDS 34,000
    TRINITY SCHOOL OF MIDLAND
    3500 WEST WADLEY
    MIDLAND,TX79707     		  PC OPERATING FUNDS AND CAPITAL FUNDS 150,000
    WEST TEXAS FOOD BANK
    411 PAGEWOOD AVE
    ODESSA,TX79761     		  PC OPERATING FUNDS 60,000
    WOGO
    2018 ELECTRIC ROAD 280
    ROANOAKE,VA24018     		  PC OPERATING EXPENSES 100,000
    YMCA OF MIDLAND
    PO BOX 954
    MIDLAND,TX79702     		  PC OPERATING FUNDS 10,000
    YOUNG LIFE BAYLOR
    3512 STURGIS LANE
    WACO,TX76708     		  PC OPERATING FUNDS 3,000
    YOUNG LIFE MIDLAND
    925 W WADLEY AVE
    MIDLAND,TX79705     		  PC OPERATING FUNDS AND CAPITAL FUNDS 50,000
    Total .................................bullet 3a 6,711,700
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 217,091  
    4 Dividends and interest from securities....     14 545,149  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 7,404,557  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 1,273,100  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 9,439,897 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    9,439,897
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 12,675 9,506   3,169

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Name of Stock End of Year Book Value End of Year Fair Market Value
    INVESTMENT SECURITIES 34,489,313 35,346,921

    TY 2018 OtherAssetsSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    OIL & GAS PRODUCING ROYALTY 3,632,329 3,632,329 15,589,000
    ACCUMULATED DEPLETION -1,860,233 -1,922,756 0


    TY 2018 OtherExpensesSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MEETINGS AND ADMINISTRATIVE 3,646 2,734   912
    ROYALTY PRODUCTION EXPENSES 35,378 35,378   0
    PTP EXPENSES 101,032 101,032   0
    POSTAGE 17 13   4


    TY 2018 OtherIncomeSchedule2
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OIL & GAS ROYALTY INCOME 7,196,419 7,196,419 7,196,419
    OTHER INVESTMENT INCOME 92,801 92,801 92,801
    STATE TAX REFUND 1,149 0 1,149
    MISC. INCOME 585 585 585
    GRANT REFUND 82,909 82,909 82,909
    RELEASE OF ESCROW 28,968 28,968 28,968
    RBC T BILL INCOME 1,704 1,704 1,704
    XTO SETTLEMENT 22 22 22


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 496,790 372,592   124,197


    TY 2018 TaxesSchedule
    Name:
    BEAL FOUNDATION
    EIN:
    75-6034480
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AD VALOREM TAX 118,730 118,730   0
    ROYALTY PRODUCTION TAX 349,994 349,994   0
    FOREIGN TAX ON DIVIDENDS 16,000 16,000   0
    STATE TAX WITHHELD ROYALTY 81 0   0
    FEDERAL EXCISE TAX 76,000 0   0