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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
Alice L Walton Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 1860
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Bentonville, AR72712
A Employer identification number

82-3700633
B Telephone number (see instructions)

(479) 464-1570
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$4,006,200,344J 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) 135,000,000
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 86,058,914 86,047,310  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 226,569,530
b Gross sales price for all assets on line 6a 1,218,612,292
7 Capital gain net income (from Part IV, line 2)... 405,167,736
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment 1,699,551 2,199,759 0
12 Total. Add lines 1 through 11........ 449,327,995 493,414,805 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 498,859 0 0 498,859
b Accounting fees (attach schedule)....... Click to see attachment 57,683 0 0 57,683
c Other professional fees (attach schedule).... Click to see attachment 4,975,543 2,653,360 0 2,322,183
17 Interest............... 217,997 199,960    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 23,466,910 5,966,311 0 599
19 Depreciation (attach schedule) and depletion... 0 0 0
20 Occupancy..............        
21 Travel, conferences, and meetings....... 1,294     1,294
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 4,757,627 4,755,496 0 1,571
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 33,975,913 13,575,127 0 2,882,189
25 Contributions, gifts, grants paid....... 37,402,494 27,402,494
26 Total expenses and disbursements. Add lines 24 and 25 71,378,407 13,575,127 0 30,284,683
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 377,949,588
b Net investment income (if negative, enter -0-) 479,839,678
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 221,508,682 241,071 241,071
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet0
Less: allowance for doubtful accounts bullet   0 0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)..... 0 0 0
7 Other notes and loans receivable (attach schedule) bullet644,000
Less: allowance for doubtful accounts bullet0 644,000 Click to see attachment644,000 644,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 0 0 0
b Investments—corporate stock (attach schedule)....... 0 Click to see attachment0 0
c Investments—corporate bonds (attach schedule)....... 0   0
11 Investments—land, buildings, and equipment: basis bullet0
Less: accumulated depreciation (attach schedule) bullet0 0   0
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,954,745,469 Click to see attachment3,541,543,321 3,991,769,603
14 Land, buildings, and equipment: basis bullet13,545,670
Less: accumulated depreciation (attach schedule) bullet0 1,560,000 Click to see attachment13,545,670 13,545,670
15 Other assets (describe bullet) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,178,458,151 3,555,974,062 4,006,200,344
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)...... 0 0
22 Other liabilities (describe bullet) Click to see attachment433,677 Click to see attachment0
23 Total liabilities (add lines 17 through 22)......... 433,677 0
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 3,178,024,474 3,555,974,062
29 Total net assets or fund balances (see instructions)..... 3,178,024,474 3,555,974,062
30 Total liabilities and net assets/fund balances (see instructions). 3,178,458,151 3,555,974,062
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
3,178,024,474
2
Enter amount from Part I, line 27a .....................
2
377,949,588
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
3,555,974,062
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
3,555,974,062
Form 990-PF (2021)
Form 990-PF (2021)
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 GS COVERED PUTS - VARIOUS STOCKS P    
b GS COVERED PUTS - CAPITAL GAIN DISTRIBUTION P    
c GS COVERED CALLS - VARIOUS STOCKS P    
d GS COVERED CALLS - CAPITAL GAIN DISTRIBUTION P    
e NT CASH - VARIOUS STOCKS P    
NT CASH - VARIOUS STOCKS P    
NT CASH - CAPITAL GAIN DISTRIBUTION P    
NT WALTER SCOTT - VARIOUS STOCKS P    
NT WALTER SCOTT - VARIOUS STOCKS P    
NT WALTER SCOTT - CAPITAL GAIN DISTRIBUTION P    
NT EAFE - CAPITAL GAIN DISTRIBUTION P    
NT EAFE - VARIOUS STOCKS P    
NT R1000 - CAPITAL GAIN DISTRIBUTION P    
NT R1000 - VARIOUS STOCKS P    
NT R1000 - VARIOUS STOCKS P    
NT R1000 - VARIOUS STOCKS P    
NT EQUITIZATION - VARIOUS STOCKS P    
NT EQUITIZATION - SECTION 1256 GAINS P    
NT EQUITIZATION - CAPITAL GAIN DISTRIBUTION P    
PASS-THROUGH - CAPITAL GAINS 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 815,154   0 815,154
b 89   0 89
c 212,131   0 212,131
d 1   0 1
e 428,272,631   380,454,397 47,818,234
67,686,132   65,119,377 2,566,755
14,169,624   0 14,169,624
4,656,764   4,922,870 -266,106
1,049,188   1,098,693 -49,505
1   0 1
4,310,511   0 4,310,511
70,082,298   66,643,595 3,438,703
200,633   0 200,633
197,298,531   176,289,278 21,009,253
270,802,284   86,329,365 184,472,919
49,258   45,701 3,557
32,392,542   32,392,691 -149
37,617,868   0 37,617,868
21   0 21
89,052,164   204,122 88,848,042
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     0 815,154
b     0 89
c     0 212,131
d     0 1
e     0 47,818,234
    0 2,566,755
    0 14,169,624
    0 -266,106
    0 -49,505
    0 1
    0 4,310,511
    0 3,438,703
    0 200,633
    0 21,009,253
    0 184,472,919
    0 3,557
    0 -149
    0 37,617,868
    0 21
    0 88,848,042
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 2 405,167,736
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 0
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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  
3 Add lines 1 and 2........................... 3 6,669,772
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 6,669,772
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 7,329,578
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,110,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,439,578
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 1,769,806
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet1,769,806 RefundedBullet 11 0
Part VI-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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
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 XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDE, AR
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 ofbulletColleen Reilly Telephone no.bullet (479) 464-1570

    Located atbulletPO Box 2030BentonvilleAR ZIP+4bullet72712
    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 2021, 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? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletJA, NL, UK, CA, DA, FR, GM
    Part VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
    No
    c
    .........bullet
    d
    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? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    Alice L Walton Director, President
    2.000     		0 0 0
    PO Box 1860
    Bentonville,AR72712
    Buddy D Philpot Secretary
    1.000     		0 0 0
    PO Box 1860
    Bentonville,AR72712
    Robert A Smith Treasurer
    1.000     		0 0 0
    PO Box 1860
    Bentonville,AR72712
    Drew Petty Assistant Secretary
    1.000     		0 0 0
    PO Box 1860
    Bentonville,AR72712
    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
     
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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
    Baldwin and Shell Construction Construction Services 10,720,924
    6514 A Lynchs Prairie Cove
    Springdale,AR72762
    WALTON ENTERPRISES LLC Management Services 2,355,306
    PO BOX 1860
    BENTONVILLE,AR72712
    NORTHERN TRUST Investment Fees 1,086,226
    50 S LASALLE STREET
    Chicago,IL60603
    Marlon Blackwell Architects Architecture Services 919,619
    412 E Center Street
    Fayetteville,AR72701
    Alliance Support Company LLC Management Services 788,121
    PO Box 1860
    Bentonville,AR72712
    Total number of others receiving over $50,000 for professional services.............bullet6
    Part VIII-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 VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    3,489,323,577
    b
    Average of monthly cash balances.......................
    1b
    234,463,017
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,723,786,594
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    3,723,786,594
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    55,856,799
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    3,667,929,795
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    183,396,490
    Part X
    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 IX, line 6..................
    1
    183,396,490
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    6,669,772
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,669,772
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    176,726,718
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    5,000
    5
    Add lines 3 and 4............................
    5
    176,731,718
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    176,731,718
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 176,731,718
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 2018, 2017 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 0
    b From 2017...... 0
    c From 2018...... 2,859,715
    d From 2019...... 15,841,699
    e From 2020...... 6,207,199
    f Total of lines 3a through e ........ 24,908,613
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 42,270,353
    a Applied to 2020, 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 2021 distributable amount..... 42,270,353
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 24,908,613 24,908,613
    (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......     		 
    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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		109,552,752
    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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017.... 0
    b Excess from 2018.... 0
    c Excess from 2019.... 0
    d Excess from 2020.... 0
    e Excess from 2021.... 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    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).)
    Alice L Walton
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    American Academy in Rome
    7 E 60th Street
    New York,NY10022     		  PC 2021 New York Gala 10,000
    American Alliance of Museums
    2451 Crystal Drive Suite 1005
    Arlington,VA22202     		  PC Advancing Diversity, Equity, Accessibility and Inclusion Among Museum Leadership and Across the Field 439,950
    American Federation of Arts Inc
    305 East 47th Street 10th Floor
    New York,NY10017     		  PC 2021 AFA Virtual Benefit 5,000
    Americans for the Arts Inc
    1000 Vermont Ave NW 6th Floor
    Washington,DC20005     		  PC General Operating Support - Arts/Culture 20,000
    Area Agency on Aging of Northwest Arkansas Inc
    PO Box 1795
    Harrison,AR72602     		  PC COVID Winter Relief Food Access 37,500
    Arkansas Arts Center Foundation
    PO Box 2137 9th Commerce Street Mac
    Arthur Park
    Little Rock,AR72203     		  PC General Operating Support - Arts/Culture 100,000
    Arkansas Black Hall of Fame Foundation
    PO Box 1042
    Little Rock,AR72203     		  PC General Operating Support - Community Development 2,000
    Arkansas Children's Hospital Foundation Inc
    1 Childrens Way Slot 661 PO Box 222
    2
    Little Rock,AR72202     		  PC General Operating Support - Health 40,000
    Arkansas Committee of the National Museum of Women in the Arts
    6402 Trinity Drive
    Pine Bluff,AR71603     		  PC General Operating Support - Arts/Culture 10,000
    Arkansas Community Foundation Inc
    5 Allied Drive Suite 51110 Building
    5 11th floor
    Little Rock,AR72202     		  PC General Operating Support - Health 125,000
    Arkansas Community Foundation Inc
    5 Allied Drive Suite 51110 Building
    5 11th floor
    Little Rock,AR72202     		  PC General Operating Support - Diversity/Culture 500,000
    Arkansas Immigrant Defense
    4024 Wagon Wheel Rd
    Springdale,AR72762     		  PC Mental Health Support for Domestic Violence Victims in Immigrant Communities 40,000
    Arkansas State Library
    900 West Capitol Avenue Suite 100
    Little Rock,AR72762     		  GOV Arkansas Public Library Art Distribution Project 299
    Best Friends Animal Society
    5001 Angel Canyon Road
    Kanab,UT84741     		  PC Capital Campaign and Front-Loaded Operations Support 1,000,000
    Bill Hillary and Chelsea Clinton Foundation
    1633 Broadway 5th Floor
    New York,NY10019     		  PC Clinton Foundation Endowment 1,000,000
    Boys and Girls Clubs of America
    1275 Peachtree Street NE
    Atlanta,GA303093506     		  PC General Operating Support - Community Youth Programs 25,000
    Camp War Eagle Inc
    PO Box 506 14323 Camp War Eagle Roa
    d
    Rogers,AR72756     		  POF 2021-2022 Camp War Eagle Operations 3,294,233
    Canopy NWA
    2925 Old Missouri Road
    Fayetteville,AR72703     		  PC General Operating Support - Immigration/Integration 50,000
    Center for Curatorial Leadership
    174 East 80th Street
    New York,NY70075     		  PC General Operating Support - Arts/Culture 20,000
    Center for Independent Documentary Inc
    1300 Soldiers Field Road Suite 5
    Boston,MA02135     		  PC Edward Hopper Documentary 20,000
    City of Fort Worth - Animal Adoption Center
    Code Compliance Department 818 Miss
    ouri Avenue
    Fort Worth,TX76104     		  GOV Animal Adoption Center 20,000
    Civic Symphony of Benton County Guild Inc
    P O Box 1723 1901 SE J Street
    Bentonville,AR72712     		  PC General Operating Support - Arts/Culture 50,000
    Community Development Corp of Bentonville Bella Vista
    808 N Main
    Bentonville,AR72712     		  PC General Operating Support - Community Development 98,500
    Compassion Center of NWA Inc
    1709 Johnson Rd
    Springdale,AR72762     		  PC Covid Relief - Food Access 56,250
    Cowboy Artists of America Joe Beeler Foundation
    PO Box 186
    Clifton,TX76634     		  PC CAA 2021 Art Sale 5,000
    Crystal Bridges Museum of American Art Inc
    600 Museum Way
    Bentonville,AR72712     		  PC 2021 - End of Year Endowment Support 10,000,000
    Fort Worth Art Association dba Modern Art Museum of Fort Worth
    3200 Darnell Street
    Fort Worth,TX76107     		  PC General Operating Support - Arts/Culture 7,500
    Fort Worth Symphony Orchestra Association Inc
    330 E 4th St Ste 200
    Fort Worth,TX76107     		  PC General Operating Support - Arts/Culture 5,000
    Fort Worth Zoological Association Inc
    1989 Colonial Parkway
    Fort Worth,TX76110     		  PC Zoo 2020: A Perfect Vision Endowment 500,000
    Girl Scouts - Diamonds of Arkansas Oklahoma and Texas
    Fayetteville Regional Office 2080 E
    ast Joyce Boulevard
    Fayetteville,AR72703     		  PC General Operating Support - Community Youth Programs 20,000
    Hispanic Womens Organization of Arkansas
    PO Box 6132
    Springdale,AR72766     		  PC Covid Relief Housing/Financial Assistance 50,000
    Hope Women's Shelter Inc
    PO Box 1650
    Mineral Wells,TX76068     		  PC General Operating Support - Community Development 20,000
    Horses for Healing Inc
    14673 Daniels Road
    Bentonville,AR72712     		  PC General Operating Support - Health 20,000
    Jewish Community Relations Council of New York Inc
    225 W 34th St Ste 1607
    New York,NY10122     		  PC 2021 JCRC-NY Gala 5,400
    Kimbell Art Museum
    3333 Camp Bowie Boulevard
    Fort Worth,TX761072792     		  POF General Operating Support - Arts/Culture 7,500
    Lincoln Center for the Performing Arts Inc
    70 Lincoln Center Plaza
    New York,NY10023     		  PC 2021 Annual/Lincoln Center Education Pre-K-12 Programs 25,000
    Mascarade Opera Limited
    22 Chancery Lane
    London   WC2A1LS
    UK     		  NC 2021 New Generation Festival 17,656
    Massachusetts Museum of Contemporary Art Foundation Inc
    1040 Mass Moca Way
    North Adams,MA01247     		  PC Programming Partnership for The Plant 150,000
    Mercy Health Foundation Northwest Arkansas
    2710 S Rife Medical Lane
    Rogers,AR72758     		  PC General Operating Support - Health 20,000
    Mercy Health Foundation Northwest Arkansas
    2710 S Rife Medical Lane
    Rogers,AR72758     		  PC COVID Clinical Health Support 73,000
    Metropolitan Museum of Art
    1000 5th Ave
    New York,NY10028     		  PC General Operating Support - Arts/Culture 25,000
    Morehouse College
    830 Westview Drive SW
    Atlanta,GA303143773     		  PC Scholarship Support for Morehouse Students 20,500
    Museum of Craft and Design
    2569 Third Street
    San Francisco,CA94107     		  PC Robyn Horn: Material Illusions Exhibition 20,000
    Museum of Modern Art
    11 West 53 Street
    New York,NY10019     		  PC General Operating Support - Arts/Culture 38,000
    National Museum of Women in the Arts Inc
    1250 New York Avenue NW
    Washington,DC200053970     		  PC General Operating Support - Arts/Culture 75,000
    New Haven Home Inc
    PO Box D
    Mineral Wells,TX76068     		  PC General Operating Support - Housing/Shelter/Food 140,000
    New Life Ranch Inc
    160 New Life Ranch Drive
    Colcord,OK743389779     		  PC General Support to include Right Lead Program 25,000
    New York and Presbyterian Hospital
    525 E 8th St
    New York,NY10065     		  PC General Operating Support - Health 50,000
    Northwest Arkansas Children's Shelter
    14100 Vaughn Rd
    Bentonville,AR72712     		  PC General Operating Support - Human Services 100,000
    Northwest Arkansas Community College Foundation Inc
    One College Drive
    Bentonville,AR72712     		  PC General Operating Support - Education 50,000
    Northwest Arkansas Council Foundation
    4100 Corporate Center Drive Suite 2
    05
    Springdale,AR72762     		  PC Regional Branding Phase III 500,000
    Northwest Arkansas Council Foundation
    4100 Corporate Center Drive Suite 2
    05
    Springdale,AR72762     		  PC Healthcare Transformation Division Capacity Building Grant 250,000
    Northwest Arkansas Crisis Intervention Center
    614 E Emma Street Ste 410
    Springdale,AR72764     		  PC COVID Relief - Mental Health 30,000
    Northwest Arkansas Food Bank Inc
    1378 June Self Drive
    Bethel Heights,AR72764     		  PC Foods to Encourage 83,051
    Our Healthy Communities Inc
    506 E Spruce Street PO Box 778
    Rogers,AR72757     		  PC COVID Winter Relief Food Access; Fayetteville Shelter Renovation 37,500
    Peace at Home Family Shelter
    PO Box 10946
    Fayetteville,AR72703     		  PC General Operating Support - Housing/Shelter/Food 50,000
    Presbyterian Children's Homes and Services
    5920 W William Cannon Drive Buildin
    g 3 Suite 100
    Austin,TX78749     		  PC Texas Facilities - Community Youth Programs 25,000
    Presbyterian Night Shelter of Tarrant County
    PO Box 2645
    Fort Worth,TX76113     		  PC Food Programs 10,000
    Robin Hood Foundation
    826 Broadway 9th Floor
    New York,NY10003     		  PC General Operating Support - Housing/Shelter/Food 1,000,000
    Rockefeller Philanthropy Advisors Inc
    6 West 48th Street 10th Floor
    New York,NY10036     		  PC America's Cultural Treasures 2,500,000
    Salvation Army
    Northwest Area Command 219 W 15th S
    treet
    Fayetteville,AR72701     		  PC Covid Winter Relief Food Access 18,750
    Salvation Army
    Northwest Area Command 219 W 15th S
    treet
    Fayetteville,AR72701     		  PC Fayetteville Shelter Renovation 138,951
    Samaritan House Community Center
    1211 W Hudson Road
    Rogers,AR72757     		  PC COVID Relief Winter Food Access 75,000
    Shelburne Museum Inc
    PO Box 10
    Shelburne,VT05482     		  PC John Wilmerding Fund for Shelburne Museum 1,000,000
    Silk Road Project Inc
    175 North Harvard Street
    Allston,MA02134     		  PC Silkroad Music Commissioning and Learning Programs Development 250,000
    Smarthistory Inc
    10 Woodbrook Rd
    Pleasantville,NY10570     		  PC Teacher Training Course and Seeing America Expansion 189,100
    SOAR After School Program
    922 E Emma Ave
    Springdale,AR72764     		  PC SOAR After School Program 2021-2022 200,000
    Spelman College
    350 Spelman Ln SW
    Atlanta,GA303144399     		  PC Program Director Endowment 2,500,000
    Spelman College
    350 Spelman Ln SW
    Atlanta,GA303144399     		  PC Building an Art History Major & Curatorial Studies Minor at the Atlanta University Center 822,652
    St Francis House NWA Inc
    614 E Emma Ave Suite 300
    Springdale,AR72764     		  PC COVID Clinical Health Support 30,000
    Symphony Orchestra of Northwest Arkansas
    PO Box 1243
    Fayetteville,AR72702     		  PC General Operating Support - Arts/Culture 25,000
    Tarleton State University
    Dept of Animal Science and Veterina
    ry Technology Box T-0070
    Stephenville,TX76402     		  GOV Equine Programs and TREAT Program 17,275
    Teen Action and Support Center
    2525 W New Hope Road
    Rogers,AR72758     		  PC Mental Health support for Adolescents in NWA 30,000
    The Aspen Institute Inc
    2300 N St NW 700
    Washington,DC200371122     		  PC General Operating Support - Community Development 25,000
    The Crystal Charity Ball
    3838 Oak Lawn Avenue Suite L152
    Dallas,TX75219     		  PC 2021 Gala 25,000
    The National Cowgirl Museum and Hall of Fame Inc
    1720 Gendy Street
    Fort Worth,TX76107     		  PC General Operating Support - Arts/Culture 15,000
    The National Cowgirl Museum and Hall of Fame Inc
    1720 Gendy Street
    Fort Worth,TX76107     		  PC Annual Banquet Support 10,000
    The Olana Partnership
    PO Box 199
    Hudson,NY12534     		  PC Protecting and Preserving the Historic Olana Property 150,000
    The University of Arkansas Foundation Inc
    4301 W Markham Street 716
    Little Rock,AR72205     		  PC UALR Nutrition Plan 37,500
    The University of Arkansas Foundation Inc
    4301 W Markham Street 716
    Little Rock,AR72205     		  PC UALR Nutrition Plan; UofA Fay Jones School: Affordable Housing Design 120,000
    The University of Arkansas Foundation Inc
    4301 W Markham Street 716
    Little Rock,AR72205     		  PC Comprehensive School Nutrition Enrichment Program 177,480
    United Way of Northwest Arkansas Inc
    100 Parkwood Street Suite C
    Lowell,AR72745     		  PC General Operating Support - Community Development 150,000
    University of Central Arkansas Foundation Inc
    Buffalo Alumni Hall 201 Donaghey Bo
    x 4986
    Conway,AR72764     		  PC Windgate Center for Fine & Performing Arts Maintenance and Support for the Arts Education programming budget at UCA 666,667
    University of the Ozarks
    415 North College Avenue
    Clarksville,AR72830     		  PC General Operating Support - Education 75,000
    Van Cliburn Foundation Inc
    201 Main Street Suite 100
    Fort Worth,TX76102     		  PC General Operating Support - Arts/Culture 50,000
    Vincent Price Art Museum Foundation
    1301 Avenida Cesar Chavez
    Monterey Park,CA91754     		  PC Museum Studies Certificate Program 66,138
    Washington Regional Medical Foundation
    3215 N Northhills Blvd
    Fayetteville,AR72703     		  PC COVID Clinical Health Support 82,000
    Whitney Museum of American Art
    99 Gansevoort St
    New York,NY10014     		  PC General Operating Support - Arts/Culture 40,000
    Whole Health School of Medicine and Health Sciences Inc
    900 McClain Rd
    Bentonville,AR72712     		  POF Whole Health School of Medicine and Health Sciences FY20-21 Startup Costs 1,260,544
    Whole Health School of Medicine and Health Sciences Inc
    900 McClain Rd
    Bentonville,AR72712     		  POF Whole Health School of Medicine and Health Sciences FY20-21 Startup Costs 500,000
    Whole Health School of Medicine and Health Sciences Inc
    900 McClain Rd
    Bentonville,AR72712     		  POF FY21-22 Annual Operating Budget 5,736,599
    Crystal Bridges Museum of American Art Inc
    600 Museum Way
    Bentonville,AR72712     		  PC Endowment grant to a related public tax-exempt organization not treated as a qualifying distribution under IRC Section 4942 (G)(3) by the grantee -10,000,000
    Total .................................bullet 3a 27,402,495
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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 ...........     		         
    4 Dividends and interest from securities ....          
    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 .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		523000 204,122 18 226,365,408  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aRecoveries of Prior Year Grants     		        5,000
    bNorthern Trust     18 148,196  
    cPass-through - Other Income/(Loss) 523000 -505,208 18 2,051,563  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. -289,482 314,612,477 5,000
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    314,327,995
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    11a Amount represents refunds of unused grant funds treated as qualifying distributions in prior years.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID: 21014044
    Software Version: 2021v4.2


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    Alice L Walton Foundation
     
    Employer identification number

    82-3700633
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    Alice L Walton Foundation
          		Employer identification number
    82-3700633
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Walton Family Foundation
     
    PO Box 1860
     
    Bentonville, AR72712

    		$ 135,000,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    Alice L Walton Foundation
          		Employer identification number

    82-3700633
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    Alice L Walton Foundation
          		Employer identification number

    82-3700633
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID: 21014044
    Software Version: 2021v4.2

    TY 2021 AccountingFeesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 57,683     57,683

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    Camp War Eagle Inc
          		PO Box 506 14323 Camp War Eagle Roa
    d
    Rogers,AR72756     		2021-09-29 3,294,233 2021-2022 Camp War Eagle Operations 2,297,161 NONE 11/08/22 2022-11-08 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.
    Kimbell Art Museum
          		3333 Camp Bowie Boulevard
    Fort Worth,TX761072792     		2021-05-21 7,500 Support costs associated with art exhibitions and education programs in 2021. 7,500 No 12/14/21 2021-12-14 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.
    Mascarade Opera Limited
          		22 Chancery Lane
    London   WC2A1LS
    UK     		2021-06-08 17,656 2021 New Generation Festival 17,656 No 10/18/2022 2022-10-18 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.
    Whole Health School of Medicine and Health Sciences Inc
          		PO Box 1860
    Bentonville,AR72712     		2021-02-26 1,260,544 Whole Health School of Medicine and Health Sciences FY20-21 Startup Costs 1,260,544 No 09/15/21 2021-09-15 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.
    Whole Health School of Medicine and Health Sciences Inc
          		PO Box 1860
    Bentonville,AR72712     		2021-07-19 500,000 Whole Health School of Medicine and Health Sciences FY20-21 Startup Costs 500,000 No 10/12/21 2021-10-12 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.
    Whole Health School of Medicine and Health Sciences Inc
          		PO Box 1860
    Bentonville,AR72712     		2021-10-01 5,736,599 FY21-22 Annual Operating Budget 5,736,599 NONE 11/11/22 2022-11-11 THE GRANTEE HAS PROVIDED THE FOUNDATION WITH THE REQUIRED REPORTS. THE FOUNDATION HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT, THEREFORE, NO FURTHER VERIFICATION BY THE FOUNDATION IS DEEMED NECESSARY.

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 GainLossSaleOtherAssetsSch
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    GS COVERED PUTS - VARIOUS STOCKS   P     815,154 0     815,154  
    GS COVERED PUTS - CAPITAL GAIN DISTRIBUTION   P     89 0     89  
    GS COVERED CALLS - VARIOUS STOCKS   P     212,131 0     212,131  
    GS COVERED CALLS - CAPITAL GAIN DISTRIBUTION   P     1 0     1  
    NT CASH - VARIOUS STOCKS   P     428,272,631 380,454,397     47,818,234  
    NT CASH - VARIOUS STOCKS   P     67,686,132 65,119,377     2,566,755  
    NT CASH - CAPITAL GAIN DISTRIBUTION   P     14,169,624 0     14,169,624  
    NT WALTER SCOTT - VARIOUS STOCKS   P     4,656,764 4,922,870     -266,106  
    NT WALTER SCOTT - VARIOUS STOCKS   P     1,049,188 1,098,693     -49,505  
    NT WALTER SCOTT - CAPITAL GAIN DISTRIBUTION   P     1 0     1  
    NT EAFE - CAPITAL GAIN DISTRIBUTION   P     4,310,511 0     4,310,511  
    NT EAFE - VARIOUS STOCKS   P     70,082,298 66,643,595     3,438,703  
    NT R1000 - CAPITAL GAIN DISTRIBUTION   P     200,633 0     200,633  
    NT R1000 - VARIOUS STOCKS   P     197,298,531 355,090,544     -157,792,013  
    NT R1000 - VARIOUS STOCKS   P     270,802,284 86,329,365     184,472,919  
    NT R1000 - VARIOUS STOCKS   P     49,258 46,763     2,495  
    NT EQUITIZATION - VARIOUS STOCKS   P     32,392,542 32,392,691     -149  
    NT EQUITIZATION - SECTION 1256 GAINS   P     37,617,868 0     37,617,868  
    NT EQUITIZATION - CAPITAL GAIN DISTRIBUTION   P     21 0     21  
    PASS-THROUGH - CAPITAL GAINS   P     89,052,164 0     89,052,164  

    TY 2021 InvestmentsOtherSchedule2
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    NT - Investment Account AT COST 2,148,397,550 2,301,146,637
    NT - R1000 Account AT COST 990,853,690 1,249,206,683
    NT - EAFE Account AT COST 270,685,287 294,473,910
    NT - Cash Equitization Account AT COST 33,342,679 33,344,155
    NT - Walter Scott International AT COST 70,252,231 83,633,168
    Goldman Sachs Managed Income Accounts AT COST 19,494,882 21,448,048
    Alice L. Walton 2021 Charitable Trust AT COST 8,517,002 8,517,002

    TY 2021 LandEtcSchedule2
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Land 1,560,000   1,560,000 1,560,000
    Parking Garage - Construction in Progress 11,985,670   11,985,670 11,985,670


    TY 2021 LegalFeesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 498,859     498,859


    TY 2021 OtherExpensesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Miscellaneous 1,571     1,571
    Pass-through - Other Deductions 4,755,696 4,755,496    
    Pass-through - Nondeductible Expenses 360      


    TY 2021 OtherIncomeSchedule2
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Recoveries of Prior Year Grants 5,000    
    Northern Trust 148,196 148,196  
    Pass-through - Other income/(loss) 1,546,355 2,051,563  


    TY 2021 OtherLiabilitiesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Description Beginning of Year - Book Value End of Year - Book Value
    Book/Tax Investment Income Timing Differences 433,677 0


    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 OtherNotesLoansRcvblLongSch
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2

    Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
    Partners for Better Housing None 644,000 644,000 2020-05 2023-05 Principal and Unpaid Interest due at Maturity 200 % None Provide capital for affordable housing project in Fayetteville, AR Cash 644,000

    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrator & Management Fees 2,322,183     2,322,183
    Investment Management Fees 2,653,360 2,653,360    


    TY 2021 TaxesSchedule
    Name:
    Alice L Walton Foundation
    EIN:
    82-3700633
    Software ID:
    21014044
    Software Version:
    2021v4.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Excise Tax 17,500,000      
    Northern Trust - Foreign Taxes 2,702,203 2,702,203    
    Property Taxes 599     599
    Pass-through - Foreign Taxes 3,264,108 3,264,108