Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 06-01-2023 , and ending 05-31-2024
Name of foundation
W Darrell Kilton Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)P O Box 410
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Litchfield, IL62056
A Employer identification number

37-1233371
B Telephone number (see instructions)

(217) 324-3935
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$24,398,235J 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 right arrow.............
3 Interest on savings and temporary cash investments 2,815 2,815  
4 Dividends and interest from securities... 821,037 821,037  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 381,309
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)..... 0  
11 Other income (attach schedule)....... 0    
12 Total. Add lines 1 through 11........ 823,852 1,205,161  
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)......... 0      
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,000 4,000    
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
139,989 139,989    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
11,222      
19 Depreciation (attach schedule) and depletion... 0    
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
15 15    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 155,226 144,004   0
25 Contributions, gifts, grants paid....... 1,106,221 1,106,221
26 Total expenses and disbursements. Add lines 24 and 25 1,261,447 144,004   1,106,221
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -437,595
b Net investment income (if negative, enter -0-) 1,061,157
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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............. 43 492 492
2 Savings and temporary cash investments......... 59,517 53,391 53,391
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....   0  
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow     0  
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 305,916 Click to see attachment
List of Attached Documents:
// Content
306,058 		319,569
b Investments—corporate stock (attach schedule)....... 10,033,980 Click to see attachment
List of Attached Documents:
// Content
9,633,854 		23,219,989
c Investments—corporate bonds (attach schedule)....... 458,481 Click to see attachment
List of Attached Documents:
// Content
808,076 		804,794
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   0  
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow     0  
15 Other assets (describe right arrow) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 10,857,937 10,801,871 24,398,235
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe right arrow) 0 0
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 10,983,628 10,983,628
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds -125,691 -181,757
29 Total net assets or fund balances (see instructions)..... 10,857,937 10,801,871
30 Total liabilities and net assets/fund balances (see instructions). 10,857,937 10,801,871
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
10,857,937
2
Enter amount from Part I, line 27a .....................
2
-437,595
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
381,309
4
Add lines 1, 2, and 3 ..........................
4
10,801,651
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
-220
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
10,801,871
Form 990-PF (2023)
Form 990-PF (2023)
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 Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2015-02-09 2023-11-15
b Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2015-02-09 2023-11-15
c Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2015-02-09 2023-11-15
d Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2015-02-09 2023-11-15
e Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-06-13 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-06-13 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-06-13 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-06-13 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-06-13 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-10-17 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Citigroup Inc Pfd Dep Shs RP Pfd K 6.875% P 2016-12-07 2023-11-15
Lilly Eli & Co Com P 2009-08-25 2024-05-16
Lilly Eli & Co Com P 2009-03-27 2024-05-16
(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 85,525 0 92,025 -6,500
b 2,500 0 2,689 -189
c 21,050 0 22,650 -1,600
d 40,425 0 43,513 -3,088
e 25,000 0 27,839 -2,839
2,500 0 2,783 -283
35,000 0 38,958 -3,958
12,500 0 13,913 -1,413
14,750 0 16,428 -1,678
61,625 0 70,101 -8,476
3,175 0 3,419 -244
1,175 0 1,274 -99
2,500 0 2,691 -191
5,000 0 5,383 -383
2,500 0 2,691 -191
2,500 0 2,692 -192
7,500 0 8,075 -575
2,200 0 2,368 -168
7,500 0 8,078 -578
12,500 0 13,462 -962
307,682 0 13,533 294,149
126,328 0 5,561 120,767
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 0 0 -6,500
b 0 0 0 -189
c 0 0 0 -1,600
d 0 0 0 -3,088
e 0 0 0 -2,839
0 0 0 -283
0 0 0 -3,958
0 0 0 -1,413
0 0 0 -1,678
0 0 0 -8,476
0 0 0 -244
0 0 0 -99
0 0 0 -191
0 0 0 -383
0 0 0 -191
0 0 0 -192
0 0 0 -575
0 0 0 -168
0 0 0 -578
0 0 0 -962
0 0 0 294,149
0 0 0 120,767
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 2 381,309
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 right arrow 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) 1 14,750
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 0
3 Add lines 1 and 2........................... 3 14,750
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 14,750
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 12,000
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Tax Paid with the Original Return: 12000 7 12,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 2,750
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow0 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowIL
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 2023 or the taxable year beginning in 2023? 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
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 addressright arrowN/A
14
The books are in care ofright arrowBank & Trust Company Telephone no.right arrow (217) 324-3935

Located atright arrowP O Box 410LitchfieldIL ZIP+4right arrow62056
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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
 
No
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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)
 
No
(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
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
 
 
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? .............................
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
 
 
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
Bank & Trust Company Trustee
20.00 		139,989 0 0
PO Box 410
Litchfield,IL62056
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...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
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.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
23,410,441
b
Average of monthly cash balances.......................
1b
118,626
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
23,529,067
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
23,529,067
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
352,936
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
23,176,131
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,158,807
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
1,158,807
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
14,750
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
14,750
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,144,057
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
1,144,057
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
1,144,057
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
1,106,221
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
1,106,221
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,144,057
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 1,106,193
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 1
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 1
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,106,221
a Applied to 2022, but not more than line 2a 1,106,193
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 28
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 1 1
(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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		1,144,028
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) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
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).)
NA
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.
NA
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Advisory Committee WDKilton Foundat
P O Box 410
Litchfield,IL62056
(217) 324-3935
bThe form in which applications should be submitted and information and materials they should include:
Petition to the advisory committee stating facts as to eligibility and merits supporting request for funds.
cAny submission deadlines:
N/A
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Organizations exempt under IRS Code Sec-501 primarily for Litchfield, IL and surrounding area.
Form 990-PF (2023)
Form 990-PF (2023)
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

Litchfield Unlimited Corporation

PO Box 92
Litchfield,IL62056 		  NC recreation and wellness facility 500,000

HSHS St Francis Hospital

1215 Francis Drive
Litchfield,IL62056 		  NC expanding Cancer Center 150,000

Litchfield CUSD #12

PO Box 448
Litchfield,IL62056 		  NC sound and electrical costs at the WD Kilton Fine Arts Center 120,000

Litchfield CUSD #12

PO Box 448
Litchfield,IL62056 		  NC College NOW program 80,000

City of Litchfield

120 East Ryder
Litchfield,IL62056 		  NC wayfinding and lake signage 60,000

Litchfield Police Department

120 East Ryder
Litchfield,IL62056 		  NC purchase 9 Panasonic Toughbook FZ-55 units for police vehicles 40,000

Litchfield Fire Department

120 East Ryder
Litchfield,IL62056 		  NC purchase 6 first responders with turnout gear 18,000

Litchfield Park District

1100 S State Street
Litchfield,IL62056 		  NC purchase of pickup truck and purchase and installation of fence slats at Memorial Pool 35,000

Litchfield Chamber of Commerce

PO Box 334
Litchfield,IL62056 		  NC purchase of laptop, onitor, printer, conference table, and stage lighting 21,000

The Next Network

622 N Franklin
Litchfield,IL62056 		  NC Hope in Motion and general fund 52,000

Hearts United Association

110 N Jackson St
Litchfield,IL62056 		  PC Emerency AssistanceProgram 13,000

Zion Lutheran School

1301 N State Street
Litchfield,IL62056 		  NC purchase of VEX123 classroom bundle 3,000

Litchfield Community Partners

1205 S State Street
Litchfield,IL62056 		  NC purchase equipment to be used for community events 5,000

Operation Elf

1205 S State Street
Litchfield,IL62056 		  NC Christmas gifts for needy families 4,000

Litchfield Christmas Basket Association

607 E Hauser Street
Litchfield,IL62056 		  NC purchase different items to fill Christmas baskets for struggling families 2,000

Montgomery County Sharks Swim Team

121 Horseshoe Lane
Litchfield,IL62056 		  NC purchase starting system and tripod stand for home swim meets 2,221

Fellowship of Christian Athletes Power Camp

1931 North Monroe Street
Litchfield,IL62056 		  NC sports camp students lunch 1,000
Total .................................right arrow 3a 1,106,221
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
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
aNone         0
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 ............ 		         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..     0
13Total. Add line 12, columns (b), (d), and (e)..................
13
0
(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.)
1 N/A
Form 990-PF (2023)
Form 990-PF (2023)
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.
right arrow right arrow
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 Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  
Part VI Line 7 - Tax Paid with the Original Return: 12,000


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Fleming,Tawfall Form 990 prep 4,000      

TY 2023 InvestmentsCorpBondsSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Name of Bond End of Year Book Value End of Year Fair Market Value
Aflac, Inc. 103,731 106,346
CitiGroup Inc. 100,870 101,640
Credit Suisse Ag 150,000 148,380
Loews Corp 103,475 104,728
Wells Fargo 350,000 343,700

TY 2023 InvestmentsCorpStockSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Name of Stock End of Year Book Value End of Year Fair Market Value
ADM Co 4425 shs 129,749 276,297
ADP 1995 shs 62,661 488,615
Alliant Energy Corp 7690 shs 99,676 395,958
Allstate Corp 4517 shs 129,879 756,688
Ameren Corp 9754 shs 277,126 715,651
American Electric 3313 shs 131,857 298,998
AT&T Inc 14036 shs 339,237 255,736
Bristol Myers Squibb Co 5683 shs 129,893 233,514
Chevron Corp 4349 shs 370,864 705,843
Cisco Sytems 8650 shs 249,216 402,225
Citigroup, Inc. 5599 shs 246,068 348,874
CocaCola Inc. 3126 shs 79,835 196,719
Country Bancorp Inc 500 shs 112,500 322,500
Country Bancorp Inc Class A 1623 shs 365,175 1,046,835
Duke Energy 4914 shs 280,081 508,944
Exxon Mobil Corp 2948 shs 239,513 345,681
Illinois Tool Works Inc. 3375 shs 130,001 819,283
Johnson & Johnson 1660 shs 99,976 243,472
Keycorp New 20740 shs 130,194 298,034
Kimberly Clark Corp. 1885 shs 95,519 251,271
Lilly Eli & Co. 3198 shs 113,315 2,623,447
McDonalds 2440 shs 135,739 631,692
Merck & Co Inc. 3110 shs 98,446 390,429
Mercury Genl Corp. 6651 shs 299,115 371,325
Microsoft Corp. 4266 shs 108,868 1,770,945
OGE Energy Corp. 4438 shs 89,914 161,099
Old Rep Intl Corp. 32436 shs 376,178 1,030,816
Otter Tail Corp. 6685 shs 167,655 604,792
Pepsico Inc. 1680 shs 100,065 290,472
Pfizer Inc. 8150 shs 122,945 233,579
PPL Corp. 6540 shs 181,652 191,818
Regions Finl Corp. 21875 shs 130,249 423,281
Spire Inc 2890 shs 99,884 177,128
Sysco Corp 4795 shs 129,726 349,172
The Travelers Companies Inc. 2553 shs 129,955 550,682
Truist Financial Corp 7663 shs 130,213 289,278
UPS Inc. 1325 shs 74,593 184,082
Valero Energy 2250 shs 140,191 353,565
Verizon Communications 7817 shs 265,192 321,670
Walmart Stores Inc. 5895 shs 99,487 387,655
WEC Energy Company 5110 shs 159,748 414,063
AGNC Invt Corp Cum 1/1000 7% pfd c 420,828 423,280
Bank Amer Corp 7.25% Cnv Pfd L 108,499 148,625
Franklin BSP Realty Trust 971,044 856,945
MFA Finl Inc Pfd Ser B 7.5% 920,087 793,108
Mogan Stanley 6.375% pfd ser I 325,763 300,147
Regions Finl Corp New Dep Shs pfd B 6.375% 35,483 35,756

TY 2023 InvestmentsGovtObligationsSch
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
US Government Securities - End of Year Book Value:

 
US Government Securities - End of Year Fair Market Value:

 
State & Local Government Securities - End of Year Book Value:


306,058
State & Local Government Securities - End of Year Fair Market Value:


319,569


TY 2023 OtherDecreasesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Description Amount
Other - Misc -220


TY 2023 OtherExpensesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AG-990 IL fee 15 15    


TY 2023 OtherIncreasesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Description Amount
Net capital gain from Pg 3 Part IV, Line 2 381,309


TY 2023 OtherProfessionalFeesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Bank & Trust Company Fiduciary Fees 139,989      


TY 2023 TaxesSchedule
Name:
W Darrell Kilton Foundation
EIN:
37-1233371
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal Fiduciary tax 11,222