Form990-PF
Click to see list of attachments

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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
DAN L DUNCAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4735
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HOUSTON, TX77210
A Employer identification number

20-0265572
B Telephone number (see instructions)

(713) 381-5200
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$817,891,370J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 3,477 3,477  
4 Dividends and interest from securities... 12,222,130 12,222,130  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 7,668,893
b Gross sales price for all assets on line 6a 121,175,383
7 Capital gain net income (from Part IV, line 2)... 7,608,870
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 7,398,314 7,428,855 0
12 Total. Add lines 1 through 11........ 27,292,814 27,263,332 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 11,883 0 0 11,883
b Accounting fees (attach schedule)....... Click to see attachment 9,017 4,508 0 4,509
c Other professional fees (attach schedule).... Click to see attachment 441,641 441,642 0 0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 883,454 99,331 0 0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 64,226 45,626 0 18,600
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,410,221 591,107 0 34,992
25 Contributions, gifts, grants paid....... 30,108,558 30,108,558
26 Total expenses and disbursements. Add lines 24 and 25 31,518,779 591,107 0 30,143,550
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -4,225,965
b Net investment income (if negative, enter -0-) 26,672,225
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 4,524,355 14,571 14,571
2 Savings and temporary cash investments......... 29,595,537 1,204,943 1,204,943
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   584,150    
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) 51,757,408 Click to see attachment59,974,437 58,493,805
b Investments—corporate stock (attach schedule)....... 280,075,378 Click to see attachment274,624,438 347,676,148
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).......... 310,166,311 Click to see attachment337,177,022 410,501,903
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 676,703,139 672,995,411 817,891,370
Liabilities 17 Accounts payable and accrued expenses..........   518,237
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)......... 0 518,237
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 676,703,139 672,477,174
29 Total net assets or fund balances (see instructions)..... 676,703,139 672,477,174
30 Total liabilities and net assets/fund balances (see instructions). 676,703,139 672,995,411
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
676,703,139
2
Enter amount from Part I, line 27a .....................
2
-4,225,965
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
672,477,174
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 29 .
6
672,477,174
Form 990-PF (2020)
Form 990-PF (2020)
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 PASSTHROUGH ST GAIN/LOSS P    
b PASSTHROUGH ST GAIN/LOSS - UBTI P    
c PASSTHROUGH LT GAIN/LOSS P    
d BROKERAGE ACCOUNTS - ST P    
e BROKERAGE ACCOUNTS - LT P    
BROKERAGE ACCOUNTS - CAPITAL GAIN DISTRIBUTION P    
MOORE GLOBAL INVESTMENTS LTD P    
MOORE MACRO MANAGERS FUND, LTD P    
PASSTHROUGH ST 1256 P    
PASSTHROUGH LT 1256 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     5,954,210 -5,954,210
b 60,023   60,023 0
c 10,909,061     10,909,061
d 43,876,014   46,731,752 -2,855,738
e 64,473,499   60,803,341 3,670,158
1,759,775     1,759,775
    17,187 -17,187
69,020     69,020
11,196     11,196
16,795     16,795
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       -5,954,210
b       0
c       10,909,061
d       -2,855,738
e       3,670,158
      1,759,775
      -17,187
      69,020
      11,196
      16,795
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 7,608,870
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 -8,798,752
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 370,744
c All other domestic foundations enter 1.39% 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........................... 3 370,744
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- ..... 5 370,744
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 325,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 100,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 425,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 2,108
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 52,148
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet52,148 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 the instructions
for the 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 instructionsClick to see attachment.................
    12
    Yes
     
    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 ofbulletLAURA LIANG Telephone no.bullet (713) 381-5200

    Located atbulletDUNCAN FAMILY OFFICE1100 LOUISIANASTHOUSTONTX ZIP+4bullet77002
    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 2020, 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
     
    No
    ........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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    RANDA DUNCAN WILLIAMS CHAIR/PRES/DIR
    1.00     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    RICHARD H BACHMANN VICE PRES/DIR
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    DANNINE GALE DUNCAN VICE PRES/DIR
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    MILANE DUNCAN FRANTZ VICE PRES/DIR
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    SCOTT D DUNCAN VICE PRES/DIR
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    W RANDALL FOWLER EVP/CFO
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    GREGG HAMMER SVP/CIO
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    LAURA LIANG VP/CGO/ASST SEC
    1.00     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    HARRY P WEITZEL EVP/SEC/GEN COUN
    0.50     		0 0 0
    PO BOX 4735
    HOUSTON,TX77210
    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 (2020)
    Form 990-PF (2020)
    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
    POLEN GROWTH INVESTMENT MANAGEMENT 287,619
    1825 NW CORPORATE BLVD 300
    BOCA RATON,FL33431
    MACQUARIE INVESTMENT MANAGEMENT ADVISERS INVESTMENT MANAGEMENT 146,837
    2005 MARKET STREET
    PHILADELPHIA,PA191037094
    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 (2020)
    Form 990-PF (2020)
    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
    434,911,415
    b
    Average of monthly cash balances.......................
    1b
    4,779,808
    c
    Fair market value of all other assets (see instructions)................
    1c
    296,912,872
    d
    Total (add lines 1a, b, and c).........................
    1d
    736,604,095
    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
    736,604,095
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    11,049,061
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    725,555,034
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    36,277,752
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    36,277,752
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    370,744
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
    5,184
    c
    Add lines 2a and 2b............................
    2c
    375,928
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    35,901,824
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    35,901,824
    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
    35,901,824
    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
    30,143,550
    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
    30,143,550
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    30,143,550
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 35,901,824
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 30,108,558
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 30,143,550
    a Applied to 2019, but not more than line 2a 30,108,558
    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 2020 distributable amount..... 34,992
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 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 0
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		35,866,832
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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).)
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    AID TO VICTIMS OF DOMESTIC ABUSE
    1001 TEXAS AVENUE SUITE 600
    HOUSTON,TX77002     		N/A PC SOCIAL SERVICES 281,000
    AUSTIN COLLEGE
    900 N GRAND AVE
    SHERMAN,TX75090     		N/A PC EDUCATIONAL SERVICES 5,000
    BAYLOR COLLEGE OF MEDICINE
    3200 SOUTHWEST FWY STE 1180
    HOUSTON,TX77027     		N/A SO I MEDICAL PROGRAMS 600,000
    BOYS & GIRLS HARBOR
    PO BOX 848
    HOUSTON,TX770010848     		N/A PC SOCIAL SERVICES 5,000
    BRENDA AND JOHN H DUNCAN RISE SCHOOL OF HOUSTON
    5618 H MARK CROSSWELL JR ST
    HOUSTON,TX770211079     		N/A PC EDUCATIONAL SERVICES 25,000
    CITIZENS FOR ANIMAL PROTECTION
    17555 KATY FWY
    HOUSTON,TX770941309     		N/A PC ANIMAL PROTECTION AND WELFARE 5,000
    EPISCOPAL HIGH SCHOOL
    4650 BISSONNET
    BELLAIRE,TX77401     		N/A PC EDUCATIONAL SERVICES 10,000
    GALVESTON BAY FOUNDATION
    1725 TX-146
    KEMAH,TX77565     		N/A PC ENVIRONMENTAL SERVICES 710,000
    GALVESTON HISTORICAL FOUNDATION
    2228 BROADWAY AVENUE J
    GALVESTON,TX77550     		N/A PC HISTORICAL PRESERVATION 450,000
    GENESYS WORKS
    14400 MEMORIAL DR STE 200
    HOUSTON,TX77079     		N/A PC SOCIAL SERVICES 50,000
    GRACEWOOD INC
    1617 ELMVIEW DRIVE
    HOUSTON,TX77080     		N/A PC SOCIAL SERVICES 100,000
    GREATER HOUSTON COMMUNITY FOUNDATION
    5120 WOODWAY DRIVE SUITE 6000
    HOUSTON,TX77056     		N/A PC EDUCATION AND SUPPORT OF THE HOUSTON COMMUNITY 15,054,279
    HELPING PAWS IN CHAMBERS COUNTY
    PO BOX E
    ANAHUAC,TX775141705     		N/A PC ANIMAL RESCUE 5,000
    HEROES FOR CHILDREN
    1701 GATEWAY BLVD SUITE 410
    RICHARDSON,TX75080     		N/A PC SOCIAL SERVICES 5,000
    HOLOCAUST MUSEUM HOUSTON
    5401 CAROLINE STREET
    HOUSTON,TX77004     		N/A PC EDUCATION AND HISTORICAL PRESERVATION 100,000
    HOUSTON ARBORETUM AND NATURE CENTER
    4501 WOODWAY DR
    HOUSTON,TX77024     		N/A PC ENVIRONMENTAL SERVICES 600,000
    HOUSTON FOOD BANK
    535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC SOCIAL SERVICES 15,000
    HOUSTON MUSEUM OF NATURAL SCIENCE
    ONE HERMANN CIRCLE DRIVE
    HOUSTON,TX77030     		N/A PC EDUCATION AND HISTORICAL PRESERVATION 1,032,372
    HOUSTON SPCA
    7007 OLD KATY ROAD
    HOUSTON,TX77024     		N/A PC ANIMAL RESCUE 350,000
    HOUSTON ZOO INC
    1513 CAMBRIDGE
    HOUSTON,TX77030     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 1,203,952
    JACINTO CITY DOG POUND RESCUE
    21320 PLAZA CIRCLE
    CROSBY,TX77532     		N/A PC ANIMAL RESCUE 5,000
    K-9 ANGELS RESCUE
    9415 WINSOME LANE
    HOUSTON,TX77063     		N/A PC ANIMAL PROTECTION AND WELFARE 10,000
    KIPP INC
    10711 KIPP WAY ST
    HOUSTON,TX77009     		N/A PC EDUCATIONAL SERVICES 325,000
    MD ANDERSON CANCER CENTER
    PO BOX 4486
    HOUSTON,TX77210     		N/A GOV MEDICAL PROGRAMS 5,000
    MEMORIAL HERMANN FOUNDATION
    929 GESSNER SUITE 2650
    HOUSTON,TX77024     		N/A SO I MEDICAL PROGRAMS 600,000
    MOTHER'S MILK BANK AUSTIN
    5925 DILLARD CIRCLE
    AUSTIN,TX78752     		N/A PC SOCIAL SERVICES 5,000
    MUSTARD SEED - A COMMUNITY CAFE
    201 E SUNSET RD
    EL PASO,TX79922     		N/A PC SOCIAL SERVICES 5,000
    PARTNERSHIP FOR THE ADVANCEMENT AND IMMERSION OF REFUGEES
    3300 CHIMNEY ROCK SUITE 105
    HOUSTON,TX77056     		N/A PC SOCIAL SERVICES 5,000
    PEARLAND NEIGHBORHOOD CENTER
    2335 N TEXAS AVE
    PEARLAND,TX77581     		N/A PC SOCIAL SERVICES 5,000
    PEREGRINE FUND
    5668 WEST FLYING HAWK LANE
    BOISE,ID83709     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 100,000
    PRO-VISION INC
    4590 WILMINGTON ST
    HOUSTON,TX77051     		N/A PC EDUCATIONAL SERVICES 185,000
    RICE UNIVERSITY
    6100 MAIN ST
    HOUSTON,TX77005     		N/A PC EDUCATIONAL SERVICES 350,000
    RIVER OAKS CHAMBER ORCHESTRA
    1934 WEST GRAY 311
    HOUSTON,TX77019     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 100,000
    RONALD MCDONALD HOUSE OF HOUSTON
    1907 HOLCOMBE BOULEVARD
    HOUSTON,TX77030     		N/A PC SOCIAL SERVICES 375,000
    SAN ANTONIO AREA FOUNDATION
    303 PEARL PARKWAY SUITE 114
    SAN ANTONIO,TX78215     		N/A PC EDUCATIONAL SERVICES 145,000
    SETON HAYS FOUNDATION
    6001 KYLE PARKWAY
    KYLE,TX78640     		N/A PC MEDICAL PROGRAMS 250,000
    SMALL STEPS NURTURNG CENTER
    2902 JENSEN DRIVE
    HOUSTON,TX77026     		N/A PC SOCIAL SERVICES 233,000
    SOUTHWESTERN UNIVERSITY
    PO BOX 770
    GEORGETOWN,TX786270770     		N/A PC EDUCATIONAL SERVICES 265,000
    SPRINGSPIRIT
    8526 PITNER RD
    HOUSTON,TX77080     		N/A PC SOCIAL SERVICES 50,000
    STAR OF HOPE
    4848 LOOP CENTRAL DR SUITE 500
    HOUSTON,TX77081     		N/A PC SOCIAL SERVICES 650,000
    SUMMER INSTITUTE INC
    40 OAKDALE ST
    HOUSTON,TX77006     		N/A PC EDUCATIONAL SERVICES 5,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		N/A PC EDUCATIONAL SERVICES 316,667
    TEXAS A&M UNIVERSITY - KINGSVILLE FOUNDATION INC (CKWRI)
    700 UNIVERSITY BLVD
    KINGSVILLE,TX78363     		N/A PC EDUCATIONAL SERVICES 510,000
    TEXAS CHILDREN'S HOSPITAL
    PO BOX 300630
    HOUSTON,TX772300630     		N/A SO I MEDICAL PROGRAMS 5,000
    THE FOUNDATION FOR THE COUNCIL ON RECOVERY
    PO BOX 2768
    HOUSTON,TX77252     		N/A PC SOCIAL SERVICES 375,000
    THE UNIVERSITY OF TEXAS AT SAN ANTONIO
    1 UTSA CIRCLE
    SAN ANTONIO,TX78249     		N/A PC EDUCATIONAL SERVICES 10,000
    THE WOMEN'S HOME
    607 WESTHEIMER ROAD
    HOUSTON,TX77006     		N/A PC SOCIAL SERVICES 100,000
    THEATER UNDER THE STARS INC
    800 BAGBY SUITE 200
    HOUSTON,TX77002     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 125,000
    TODAY'S HARBOR FOR CHILDREN
    514 BAYBRIDGE ROAD
    LA PORTE,TX77571     		N/A PC EDUCATIONAL SERVICES 301,888
    TRINITY OAKS ENTERPRISES
    9385 MILLER LANE
    SAN ANTONIO,TX78266     		N/A PC SOCIAL SERVICES 5,000
    TRINITY UNIVERSITY
    1 TRINITY PLACE
    SAN ANTONIO,TX78212     		N/A PC EDUCATIONAL SERVICES 510,000
    UNIVERSITY OF HOUSTON
    4800 CALHOUN ROAD
    HOUSTON,TX77004     		N/A PC EDUCATIONAL SERVICES 1,110,000
    UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON
    700 FANNIN ST 1200
    HOUSTON,TX77030     		N/A PC MEDICAL PROGRAMS 1,125,000
    WEST UNIVERSITY METHODIST CHURCH
    3611 UNIVERSITY BOULEVARD
    HOUSTON,TX77005     		N/A PC CAPITAL CAMPAIGN 20,000
    WONDERLAND EDUCATIONAL ESTATE ASSOCIATION DBA BEATRICE MAYES INSTITUTE
    5807 CALHOUN ROAD
    HOUSTON,TX77021     		N/A PC SOCIAL SERVICES 86,400
    YELLOWSTONE ACADEMY
    300 TRULLEY STREET
    HOUSTON,TX77004     		N/A PC EDUCATIONAL SERVICES 1,229,000
    Total .................................bullet 3a 30,108,558
    bApproved for future payment
    AID TO VICTIMS OF DOMESTIC ABUSE
    1001 TEXAS AVENUE SUITE 600
    HOUSTON,TX77002     		N/A PC SOCIAL SERVICES 904,000
    BAYLOR COLLEGE OF MEDICINE
    3200 SOUTHWEST FWY STE 1180
    HOUSTON,TX77027     		N/A SO I MEDICAL PROGRAMS 4,000,000
    CAMP ARANZAZU FOUNDATION
    5420 LOOP 1781
    ROCKPORT,TX783827622     		N/A PC SOCIAL SERVICES 1,000,000
    CONCORDIA UNIVERSITY TEXAS
    11400 CONCORDIA UNIVERSITY DRIVE
    AUSTIN,TX78726     		N/A PC EDUCATIONAL SERVICES 25,000
    HOUSTON SPCA
    7007 OLD KATY ROAD
    HOUSTON,TX77024     		N/A PC ANIMAL RESCUE 250,000
    KIPP INC
    10711 KIPP WAY ST
    HOUSTON,TX77009     		N/A PC EDUCATIONAL SERVICES 325,000
    MEMORIAL HERMANN FOUNDATION
    929 GESSNER SUITE 2650
    HOUSTON,TX77024     		N/A SO I MEDICAL PROGRAMS 1,700,000
    PEREGRINE FUND
    5668 WEST FLYING HAWK LANE
    BOISE,ID83709     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 200,000
    RIVER OAKS CHAMBER ORCHESTRA
    1934 WEST GRAY 311
    HOUSTON,TX77019     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 150,000
    SAN ANTONIO AREA FOUNDATION
    303 PEARL PARKWAY SUITE 114
    SAN ANTONIO,TX78215     		N/A PC EDUCATIONAL SERVICES 280,000
    SOUTHWESTERN UNIVERSITY
    PO BOX 770
    GEORGETOWN,TX786270770     		N/A PC EDUCATIONAL SERVICES 200,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		N/A PC EDUCATIONAL SERVICES 633,333
    THE FOUNDATION FOR THE COUNCIL ON RECOVERY
    PO BOX 2768
    HOUSTON,TX77252     		N/A PC SOCIAL SERVICES 125,000
    Total .................................bullet 3b 9,792,333
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 3,477  
    4 Dividends and interest from securities....     14 12,222,130  
    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 7,409,626  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		525990 60,023 18 7,608,870  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aPASSTHROUGH K-1 INCOME - UBTI     		525990 -11,312      
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 48,711 27,244,103 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    27,292,814
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    Form 990PF Part XV Line 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
    AID TO VICTIMS OF DOMESTIC ABUSE1001 TEXAS AVENUE SUITE 600
    HOUSTON,TX77002     		N/A PC SOCIAL SERVICES 281,000
    AUSTIN COLLEGE900 N GRAND AVE
    SHERMAN,TX75090     		N/A PC EDUCATIONAL SERVICES 5,000
    BAYLOR COLLEGE OF MEDICINE3200 SOUTHWEST FWY STE 1180
    HOUSTON,TX77027     		N/A SO I MEDICAL PROGRAMS 600,000
    BOYS & GIRLS HARBORPO BOX 848
    HOUSTON,TX770010848     		N/A PC SOCIAL SERVICES 5,000
    BRENDA AND JOHN H DUNCAN RISE SCHOOL OF HOUSTON5618 H MARK CROSSWELL JR ST
    HOUSTON,TX770211079     		N/A PC EDUCATIONAL SERVICES 25,000
    CITIZENS FOR ANIMAL PROTECTION17555 KATY FWY
    HOUSTON,TX770941309     		N/A PC ANIMAL PROTECTION AND WELFARE 5,000
    EPISCOPAL HIGH SCHOOL4650 BISSONNET
    BELLAIRE,TX77401     		N/A PC EDUCATIONAL SERVICES 10,000
    GALVESTON BAY FOUNDATION1725 TX-146
    KEMAH,TX77565     		N/A PC ENVIRONMENTAL SERVICES 710,000
    GALVESTON HISTORICAL FOUNDATION2228 BROADWAY AVENUE J
    GALVESTON,TX77550     		N/A PC HISTORICAL PRESERVATION 450,000
    GENESYS WORKS14400 MEMORIAL DR STE 200
    HOUSTON,TX77079     		N/A PC SOCIAL SERVICES 50,000
    GRACEWOOD INC1617 ELMVIEW DRIVE
    HOUSTON,TX77080     		N/A PC SOCIAL SERVICES 100,000
    GREATER HOUSTON COMMUNITY FOUNDATION5120 WOODWAY DRIVE SUITE 6000
    HOUSTON,TX77056     		N/A PC EDUCATION AND SUPPORT OF THE HOUSTON COMMUNITY 15,054,279
    HELPING PAWS IN CHAMBERS COUNTYPO BOX E
    ANAHUAC,TX775141705     		N/A PC ANIMAL RESCUE 5,000
    HEROES FOR CHILDREN1701 GATEWAY BLVD SUITE 410
    RICHARDSON,TX75080     		N/A PC SOCIAL SERVICES 5,000
    HOLOCAUST MUSEUM HOUSTON5401 CAROLINE STREET
    HOUSTON,TX77004     		N/A PC EDUCATION AND HISTORICAL PRESERVATION 100,000
    HOUSTON ARBORETUM AND NATURE CENTER4501 WOODWAY DR
    HOUSTON,TX77024     		N/A PC ENVIRONMENTAL SERVICES 600,000
    HOUSTON FOOD BANK535 PORTWALL ST
    HOUSTON,TX77029     		N/A PC SOCIAL SERVICES 15,000
    HOUSTON MUSEUM OF NATURAL SCIENCEONE HERMANN CIRCLE DRIVE
    HOUSTON,TX77030     		N/A PC EDUCATION AND HISTORICAL PRESERVATION 1,032,372
    HOUSTON SPCA7007 OLD KATY ROAD
    HOUSTON,TX77024     		N/A PC ANIMAL RESCUE 350,000
    HOUSTON ZOO INC1513 CAMBRIDGE
    HOUSTON,TX77030     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 1,203,952
    JACINTO CITY DOG POUND RESCUE21320 PLAZA CIRCLE
    CROSBY,TX77532     		N/A PC ANIMAL RESCUE 5,000
    K-9 ANGELS RESCUE9415 WINSOME LANE
    HOUSTON,TX77063     		N/A PC ANIMAL PROTECTION AND WELFARE 10,000
    KIPP INC10711 KIPP WAY ST
    HOUSTON,TX77009     		N/A PC EDUCATIONAL SERVICES 325,000
    MD ANDERSON CANCER CENTERPO BOX 4486
    HOUSTON,TX77210     		N/A GOV MEDICAL PROGRAMS 5,000
    MEMORIAL HERMANN FOUNDATION929 GESSNER SUITE 2650
    HOUSTON,TX77024     		N/A SO I MEDICAL PROGRAMS 600,000
    MOTHER'S MILK BANK AUSTIN5925 DILLARD CIRCLE
    AUSTIN,TX78752     		N/A PC SOCIAL SERVICES 5,000
    MUSTARD SEED - A COMMUNITY CAFE201 E SUNSET RD
    EL PASO,TX79922     		N/A PC SOCIAL SERVICES 5,000
    PARTNERSHIP FOR THE ADVANCEMENT AND IMMERSION OF REFUGEES3300 CHIMNEY ROCK SUITE 105
    HOUSTON,TX77056     		N/A PC SOCIAL SERVICES 5,000
    PEARLAND NEIGHBORHOOD CENTER2335 N TEXAS AVE
    PEARLAND,TX77581     		N/A PC SOCIAL SERVICES 5,000
    PEREGRINE FUND5668 WEST FLYING HAWK LANE
    BOISE,ID83709     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 100,000
    PRO-VISION INC4590 WILMINGTON ST
    HOUSTON,TX77051     		N/A PC EDUCATIONAL SERVICES 185,000
    RICE UNIVERSITY6100 MAIN ST
    HOUSTON,TX77005     		N/A PC EDUCATIONAL SERVICES 350,000
    RIVER OAKS CHAMBER ORCHESTRA1934 WEST GRAY 311
    HOUSTON,TX77019     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 100,000
    RONALD MCDONALD HOUSE OF HOUSTON1907 HOLCOMBE BOULEVARD
    HOUSTON,TX77030     		N/A PC SOCIAL SERVICES 375,000
    SAN ANTONIO AREA FOUNDATION303 PEARL PARKWAY SUITE 114
    SAN ANTONIO,TX78215     		N/A PC EDUCATIONAL SERVICES 145,000
    SETON HAYS FOUNDATION6001 KYLE PARKWAY
    KYLE,TX78640     		N/A PC MEDICAL PROGRAMS 250,000
    SMALL STEPS NURTURNG CENTER2902 JENSEN DRIVE
    HOUSTON,TX77026     		N/A PC SOCIAL SERVICES 233,000
    SOUTHWESTERN UNIVERSITYPO BOX 770
    GEORGETOWN,TX786270770     		N/A PC EDUCATIONAL SERVICES 265,000
    SPRINGSPIRIT8526 PITNER RD
    HOUSTON,TX77080     		N/A PC SOCIAL SERVICES 50,000
    STAR OF HOPE4848 LOOP CENTRAL DR SUITE 500
    HOUSTON,TX77081     		N/A PC SOCIAL SERVICES 650,000
    SUMMER INSTITUTE INC40 OAKDALE ST
    HOUSTON,TX77006     		N/A PC EDUCATIONAL SERVICES 5,000
    TEACH FOR AMERICA25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		N/A PC EDUCATIONAL SERVICES 316,667
    TEXAS A&M UNIVERSITY - KINGSVILLE FOUNDATION INC (CKWRI)700 UNIVERSITY BLVD
    KINGSVILLE,TX78363     		N/A PC EDUCATIONAL SERVICES 510,000
    TEXAS CHILDREN'S HOSPITALPO BOX 300630
    HOUSTON,TX772300630     		N/A SO I MEDICAL PROGRAMS 5,000
    THE FOUNDATION FOR THE COUNCIL ON RECOVERYPO BOX 2768
    HOUSTON,TX77252     		N/A PC SOCIAL SERVICES 375,000
    THE UNIVERSITY OF TEXAS AT SAN ANTONIO1 UTSA CIRCLE
    SAN ANTONIO,TX78249     		N/A PC EDUCATIONAL SERVICES 10,000
    THE WOMEN'S HOME607 WESTHEIMER ROAD
    HOUSTON,TX77006     		N/A PC SOCIAL SERVICES 100,000
    THEATER UNDER THE STARS INC800 BAGBY SUITE 200
    HOUSTON,TX77002     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 125,000
    TODAY'S HARBOR FOR CHILDREN514 BAYBRIDGE ROAD
    LA PORTE,TX77571     		N/A PC EDUCATIONAL SERVICES 301,888
    TRINITY OAKS ENTERPRISES9385 MILLER LANE
    SAN ANTONIO,TX78266     		N/A PC SOCIAL SERVICES 5,000
    TRINITY UNIVERSITY1 TRINITY PLACE
    SAN ANTONIO,TX78212     		N/A PC EDUCATIONAL SERVICES 510,000
    UNIVERSITY OF HOUSTON4800 CALHOUN ROAD
    HOUSTON,TX77004     		N/A PC EDUCATIONAL SERVICES 1,110,000
    UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON700 FANNIN ST 1200
    HOUSTON,TX77030     		N/A PC MEDICAL PROGRAMS 1,125,000
    WEST UNIVERSITY METHODIST CHURCH3611 UNIVERSITY BOULEVARD
    HOUSTON,TX77005     		N/A PC CAPITAL CAMPAIGN 20,000
    WONDERLAND EDUCATIONAL ESTATE ASSOCIATION DBA BEATRICE MAYES INSTITUTE5807 CALHOUN ROAD
    HOUSTON,TX77021     		N/A PC SOCIAL SERVICES 86,400
    YELLOWSTONE ACADEMY300 TRULLEY STREET
    HOUSTON,TX77004     		N/A PC EDUCATIONAL SERVICES 1,229,000
    Total ...............................bullet 3a 30,108,558
    bApproved for future payment
    AID TO VICTIMS OF DOMESTIC ABUSE1001 TEXAS AVENUE SUITE 600
    HOUSTON,TX77002     		N/A PC SOCIAL SERVICES 904,000
    BAYLOR COLLEGE OF MEDICINE3200 SOUTHWEST FWY STE 1180
    HOUSTON,TX77027     		N/A SO I MEDICAL PROGRAMS 4,000,000
    CAMP ARANZAZU FOUNDATION5420 LOOP 1781
    ROCKPORT,TX783827622     		N/A PC SOCIAL SERVICES 1,000,000
    CONCORDIA UNIVERSITY TEXAS11400 CONCORDIA UNIVERSITY DRIVE
    AUSTIN,TX78726     		N/A PC EDUCATIONAL SERVICES 25,000
    HOUSTON SPCA7007 OLD KATY ROAD
    HOUSTON,TX77024     		N/A PC ANIMAL RESCUE 250,000
    KIPP INC10711 KIPP WAY ST
    HOUSTON,TX77009     		N/A PC EDUCATIONAL SERVICES 325,000
    MEMORIAL HERMANN FOUNDATION929 GESSNER SUITE 2650
    HOUSTON,TX77024     		N/A SO I MEDICAL PROGRAMS 1,700,000
    PEREGRINE FUND5668 WEST FLYING HAWK LANE
    BOISE,ID83709     		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 200,000
    RIVER OAKS CHAMBER ORCHESTRA1934 WEST GRAY 311
    HOUSTON,TX77019     		N/A PC PERFORMING ARTS AND ARTS EDUCATION 150,000
    SAN ANTONIO AREA FOUNDATION303 PEARL PARKWAY SUITE 114
    SAN ANTONIO,TX78215     		N/A PC EDUCATIONAL SERVICES 280,000
    SOUTHWESTERN UNIVERSITYPO BOX 770
    GEORGETOWN,TX786270770     		N/A PC EDUCATIONAL SERVICES 200,000
    TEACH FOR AMERICA25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		N/A PC EDUCATIONAL SERVICES 633,333
    THE FOUNDATION FOR THE COUNCIL ON RECOVERYPO BOX 2768
    HOUSTON,TX77252     		N/A PC SOCIAL SERVICES 125,000
    Total ................................bullet 3b 9,792,333

    TY 2020 AccountingFeesSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PLANNING AND COMPLIANCE 9,017 4,508 0 4,509

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 1,806,025 2,489,803
    ACCENTURE LTD CL A 954,984 2,136,959
    ADOBE SYSTEMS INC 888,837 3,340,301
    ALIGN TECHNOLOGY INC COM 480,786 1,441,223
    ALLSTATE CORP 792,827 1,176,251
    ALPHACENTRIC IOFIX 21,207,073 19,045,679
    AMERICAN INTERNATIONAL GROUP INC COM 1,379,056 1,298,598
    API GROUP CORP COM 204,639 257,730
    ARCHER-DANIELS-MIDLAND CO COM 930,827 1,073,733
    ARTISAN PARTNERS ASSET MANAGEMENT INC 416,999 560,033
    ARTISAN US SMALL CAP GROWTH 21,451,381 29,897,579
    AT&T INC 1,252,381 980,716
    AUTODESK INC 1,250,119 2,148,678
    AVAGO TECHNOLOGIES LTD 782,011 1,313,550
    BLACKROCK RUSSELL 3000 COMMON TRUST FUND (FOU) 63,428,819 84,625,029
    BLACKROCK SIO 10,299,204 11,215,912
    BOTTOMLINE TECHNOLOGIES INC 382,816 417,965
    BRIGHTVIEW HOLDINGS INC 495,990 611,226
    CALLAWAY GOLF CO 336,743 422,576
    CARDINAL HEALTH INC 1,245,075 1,049,776
    CATERPILLAR INC COM 753,728 1,272,138
    CERENCE INC 130,009 256,626
    CIGNA CORP NEW COM 936,358 1,202,031
    CISCO SYSTEMS INC 853,572 1,159,025
    COGNIZANT TECH SOLUTIONS CORP CL A 828,342 1,234,167
    COMCAST CORP NEW-CL A 927,604 1,211,645
    COMPASS MINERALS INTERNATIONAL INC 464,509 532,335
    CONAGRA FOODS INC 937,294 1,172,721
    CONOCOPHILLIPS 1,270,900 1,249,927
    CORNERSTONE ONDEMAND 297,477 365,532
    CVS HEALTH CORP COM 1,237,336 1,161,100
    DISCOVER FINANCIAL 1,051,218 1,311,780
    DOLLAR GENERAL CORPORATION 635,908 1,425,834
    DOLLAR TREE INC COM STK 992,440 1,350,500
    DOUGLAS DYNAMICS INC 256,705 290,836
    DU PONT E I DENEMOURS & CO. COM 635,809 1,371,925
    EDISON INTERNATIONAL 1,177,924 1,099,350
    ENCORE CAPITAL GROUP 241,359 247,527
    EQUITY RESIDENTIAL 1,173,167 1,158,094
    EVERCORE INC CLASS A 249,316 397,445
    EXLSERVICE HOLDINGS INC 261,731 343,500
    FACEBOOK INC CL A 2,044,799 3,828,064
    FRONTDOOR INC COM 314,205 372,809
    GARTNER INC COM 789,671 1,133,184
    GENTEX CORP COM 381,876 476,717
    GOOGLE INC (CLASS A) 486,263 1,020,036
    GOOGLE INC (CLASS C) 1,565,100 3,247,986
    HILLENBRAND INC 505,922 667,645
    HONEYWELL 986,776 1,157,513
    HOSTESS BRANDS INC 501,532 565,836
    ILLUMINA INC 913,255 1,015,650
    INOVALON HOLDINGS INC. CL A 465,347 344,776
    INTEL CORP 803,968 1,001,382
    INTUITIVE SURGICAL INC NEW 869,916 983,356
    JOHNSON & JOHNSON 849,906 1,133,136
    KNOWLES CORP 206,013 241,433
    LENDINGTREE INC 593,656 485,977
    LOWES COMPANIES INC 502,047 1,171,723
    MASTERCARD INC 1,085,506 2,291,555
    MEDPACE HLDGS INC 261,212 292,320
    MERCK & CO INC 732,507 1,014,320
    MICROSOFT CORP 1,560,444 3,724,868
    MONDELEZ INTERNATIONAL, INC. 798,722 1,099,236
    MOTOROLA SOLUTIONS 1,016,896 1,122,396
    MSCI EAFE CORE ETF 50,275,934 56,275,372
    MSCI INC COMMON 482,153 929,675
    NIKE INC-CL B 442,560 1,110,822
    NORTHROP GRUMMAN CORP COM 1,019,054 1,188,408
    ORACLE CORP COM 754,582 1,216,172
    PAYPAL HLDGS INC COM 777,572 1,971,261
    QUOTIENT TECHNOLOGY INC 381,743 378,684
    RAYTHEON TECHNOLOGIES CORP 1,015,175 1,195,433
    REGENERON PHARMACEUTICALS INC 864,387 1,133,859
    RWC EMERGING MARKETS EQUITY (FOU) 30,000,000 35,943,560
    SALESFORCE.COM INC 1,376,094 1,824,301
    SERVICENOW INC 1,049,455 2,074,571
    SHUTTERSTOCK INC 414,354 548,505
    SP PLUS CORP 178,754 295,508
    SPS COMMERCE INC COM 98,793 143,882
    STARBUCKS CORP 877,736 1,557,308
    STERICYCLE INC COM 497,764 561,573
    TERMINIX GLOBAL HOLDINGS INC 494,773 610,845
    TRUIST FINL CORP COM 946,323 1,207,309
    UNITEDHEALTH GROUP INC 1,307,708 1,424,111
    UST IEF 11,868,681 12,581,097
    VERINT SYSTEMS INC 271,461 403,080
    VERIZON COMMUNICATIONS COM STK 963,644 1,128,000
    VIATRIS INC COM 1,052,299 1,205,844
    VISA INC 905,055 2,321,600
    WALT DISNEY CO HOLDING CO 747,924 1,367,728
    WILLSCOT MOBILE MINI HOLDINGS CORP 427,714 650,498
    WORLD FUEL SERVICES 239,192 244,450
    ZOETIS INC COM USD0.01 CL -A- 987,067 2,113,104
    STONE POINT CREDIT CORPORATION 371,650 360,315

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    US Government Securities - End of Year Book Value:

    34,042,364
    US Government Securities - End of Year Fair Market Value:

    34,563,923
    State & Local Government Securities - End of Year Book Value:


    25,932,073
    State & Local Government Securities - End of Year Fair Market Value:


    23,929,882


    TY 2020 InvestmentsOtherSchedule2
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BLACKSTONE REAL ESTATE PARTNERS ASIA II LP AT COST 6,420,413 6,543,831
    BRIDGEWATER PURE ALPHA MAJOR MARKETS II, LTD AT COST 22,074,309 22,805,169
    DYAL III OFFSHORE AT COST 4,637,385 9,154,496
    ELLIOTT INTERNATIONAL LIMITED AT COST 20,000,000 22,932,778
    GENERAL ATLANTIC AT COST 7,700,010 11,598,047
    GSO CAPITAL OPPORTUNITIES III AT COST 10,152,755 9,720,176
    HBK MULTI-STRATEGY OFFSHORE FUND LTD. AT COST 20,000,000 23,692,926
    KAYNE ANDERSON CORE REAL ESTATE LP AT COST 18,988,319 19,936,637
    KAYNE ANDERSON REAL ESTATE DEBT II AT COST 7,045,687 7,316,676
    KKR ASIAN FUND III AT COST 6,337,481 9,048,747
    KKR REPA II EEA FEEDER I LP AT COST 11,080,661 11,337,417
    MADISON PARK FUNDING XXVII LTD AT COST 20,000,000 15,400,000
    MADISON PARK FUNDING XXXV LTD AT COST 10,000,000 7,574,750
    MILLENNIUM INTERNATIONAL LTD AT COST 20,000,000 27,441,826
    NB SECONDARY OPPORTUNITIES OFFSHORE FUND IV LP AT COST 3,168,700 4,239,365
    NB STRATEGIC CAPITAL OFFSHORE LP AT COST 1,920,522 3,148,011
    RENAISSANCE INSTITUTIONAL EQUITIES AT COST 18,676,131 23,150,420
    SELWOOD AM CREDIT FUND LIMITED AT COST 20,000,000 19,336,697
    SILVER LAKE PARTNERS V AT COST 8,689,359 11,325,013
    STRATEGIC PARTNERS OFFSHORE FUND VII, L.P. AT COST 3,231,805 4,537,581
    THE CHILDREN'S INVESTMENT FUND AT COST 17,565,400 28,789,200
    THE VERITAS CAPITAL FUND VI LP AT COST 7,813,949 18,393,234
    VIKING GLOBAL EQUITIES III LTD AT COST 20,000,000 28,236,828
    WARBURG PINCUS PE XII AT COST 10,062,821 15,222,631
    WCM FOCUSED INTERNATIONAL GROWTH FUND LP AT COST 41,611,315 49,619,447

    TY 2020 LegalFeesSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 11,883 0 0 11,883


    TY 2020 OtherExpensesSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TRUST EXPENSES - COMMON TRUST FUND 45,626 45,626 0 0
    SOFTWARE SUBSCRIPTION 18,600 0 0 18,600


    TY 2020 OtherIncomeSchedule2
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASSTHROUGH K-1 INCOME 3,461,285 3,480,514 11,312
    PFIC ORDINARY INCOME INCLUSION 3,711,970 3,711,970 0
    BROKERAGE ACCOUNTS 1,566 1,566 0
    ROYALTY INCOME 198,397 198,397 0
    ENVERVEST INTEREST 36,408 36,408 0
    PASSTHROUGH K-1 INCOME - UBTI -11,312 0 -11,312


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 441,641 441,642 0 0


    TY 2020 TaxesSchedule
    Name:
    DAN L DUNCAN FOUNDATION
    EIN:
    20-0265572
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 99,331 99,331 0 0
    EXCISE TAX 784,123 0 0 0