TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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 01-01-2023 , and ending 12-31-2023

Name of foundation
THE WALT AND LILLY DISNEY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)CO BAKER TILLY 50 FREMONT ST FL 4
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
SAN FRANCISCO, CA94105

A Employer identification number

23-7425637

B Telephone number (see instructions)

(415) 453-0883

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$153,244,358J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	3,844,366		3,848,895
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		2,689,865
b	Gross sales price for all assets on line 6a 53,643,048
7	Capital gain net income (from Part IV, line 2)...			2,590,229
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......	List of Attached Documents: // Content	14,011	293,502
12	Total. Add lines 1 through 11........	6,548,242		6,732,626
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	5,335	534	4,802
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	150,797	15,080	128,814
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	669,681	653,391	16,290
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	155,380	58,292	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	8,855	147,256	885
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	990,048		874,553	150,791
25	Contributions, gifts, grants paid.......	12,759,657			11,693,450
26	Total expenses and disbursements. Add lines 24 and 25	13,749,705		874,553	11,844,241
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-7,201,463
b	Net investment income (if negative, enter -0-)			5,858,073
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	15,673,033	4,018,753	4,018,753
	3	Accounts receivable 61,554
		Less: allowance for doubtful accounts	2,848,629	61,554	61,554
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	0	List of Attached Documents: // Content 1,985,767	1,985,767
	b	Investments—corporate stock (attach schedule).......	62,398,151	List of Attached Documents: // Content 67,573,878	67,573,878
	c	Investments—corporate bonds (attach schedule).......	33,391,918	List of Attached Documents: // Content 33,032,897	33,032,897
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	38,687,418	List of Attached Documents: // Content 46,571,509	46,571,509
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	152,999,149	153,244,358	153,244,358
	17	Accounts payable and accrued expenses..........	9,814	7,670
	18	Grants payable.................		1,066,207
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	List of Attached Documents: // Content 270,967	List of Attached Documents: // Content 367,838
	23	Total liabilities (add lines 17 through 22).........	280,781	1,441,715
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	152,718,368	151,802,643
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		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
	29	Total net assets or fund balances (see instructions).....	152,718,368	151,802,643
	30	Total liabilities and net assets/fund balances (see instructions).	152,999,149	153,244,358

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

152,718,368

Enter amount from Part I, line 27a .....................

-7,201,463

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

6,285,738

Add lines 1, 2, and 3 ..........................

151,802,643

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

151,802,643

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	PUBLICLY TRADED SECURITIES
b	BLACKSTONE REAL ESTATE INCOME TRUST, INC.	P	2023-01-01	2023-12-31
c	BLUE OWL OAK STREET	P	2023-01-01	2023-12-31
d	FORESITE CAPITAL FUND V, LP	P	2023-01-01	2023-12-31
e	FORESITE CAPITAL OPPORTUNITY FUND V, LP	P	2023-01-01	2023-12-31
	SHERPAEVEREST FUND, LP	P	2023-01-01	2023-12-31
	SHERPAVENTURES FUND II, LP	P	2023-01-01	2023-12-31
	FORESITE CAPITAL FUND IV, L.P.	P	2023-01-01	2023-12-31
	FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP	P	2023-01-01	2023-12-31

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	53,643,048	50,891,439	2,751,609
b		47,242	-47,242
c		14,502	-14,502
d	9,319		9,319
e	10,605		10,605
		54,960	-54,960
	204		204
		60,312	-60,312
		4,492	-4,492

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			2,751,609
b			-47,242
c			-14,502
d			9,319
e			10,605
			-54,960
			204
			-60,312
			-4,492

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	2,590,229
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 ...................		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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	81,427
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	81,427
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	81,427
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	138,246
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	138,246
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	56,819
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax56,819	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. right arrow

$ 0(2) On foundation managers. right arrow

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

N/A

The books are in care of right arrow

THE FOUNDATION Telephone no. right arrow

(415) 453-0883

Located at right arrow

C/O BAKER TILLY 50 FREMONT ST FL 40SAN FRANCISCOCA ZIP+4 right arrow

94105

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

Yes

If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment

List of Attached Documents:

// Content

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part 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
WALTER ED MILLER	PRESIDENT 3.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	PRESIDENT 3.00	0	0	0
CHRISTOPHER D MILLER	VICE PRESIDENT/TREASURER 3.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	VICE PRESIDENT/TREASURER 3.00	0	0	0
TAMARA D MILLER	SECRETARY 3.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	SECRETARY 3.00	0	0	0

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...................				0

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
SEILER LLP	ACCOUNTING SERVICES	95,227
220 MONTGOMERY ST SUITE 300 SAN FRANCISCO,CA941013436	ACCOUNTING SERVICES	95,227

Total number of others receiving over $50,000 for professional services............. right arrow

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)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

101,967,741

Average of monthly cash balances.......................

3,633,896

Fair market value of all other assets (see instructions)................

46,633,063

Total (add lines 1a, b, and c).........................

152,234,700

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

152,234,700

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

2,283,521

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

149,951,179

Minimum investment return. Enter 5% (0.05) of line 5................

7,497,559

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.)

Minimum investment return from Part IX, line 6..................

7,497,559

Tax on investment income for 2022 from Part V, line 5.......

81,427

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

81,427

Distributable amount before adjustments. Subtract line 2c from line 1............

7,416,132

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

7,416,132

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

7,416,132

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

11,844,241

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

11,844,241

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					7,416,132
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2022:
a From 2018......	1,696,253
b From 2019......	409,396
c From 2020......
d From 2021......
e From 2022......	914,079
f Total of lines 3a through e ........		3,019,728
4Qualifying distributions for 2023 from Part
XI, line 4: $ 11,844,241
a Applied to 2022, 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 2023 distributable amount.....					7,416,132
e Remaining amount distributed out of corpus		4,428,109
5 Excess distributions carryover applied to 2023.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		7,447,837
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 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 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		1,696,253
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		5,751,584
10 Analysis of line 9:
a Excess from 2019....	409,396
b Excess from 2020....
c Excess from 2021....
d Excess from 2022....	914,079
e Excess from 2023....	4,428,109

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

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 right arrow

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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 (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
WALT DISNEY FAMILY FOUNDATION 104 MONTGOMERY ST SAN FRANCISCO,CA94129	N/A	POF	EDUCATION - ARTS	1,300,000
THE WALT DISNEY FAMILY MUSEUM 104 MONTGOMERY ST SAN FRANCISCO,CA94129	N/A	PC	EDUCATION - ARTS	9,458,450
RESEARCH TO PREVENT BLINDNESS 645 MADISON AVENUE 21ST FLOOR NEW YORK,NY10022	N/A	PC	AMBLYOPIA RESEARCH	250,000
WALT DISNEY MAGNET SCHOOL 4140 NORTH MARINE DRIVE CHICAGO,IL60613	N/A	GOV	EDUCATION - ARTS	100,000
JOHN TRACY CLINIC 806 WEST ADAMS BOULEVARD LOS ANGELES,CA90007	N/A	PC	MEDICAL/HEARING LOSS	25,000
LA PHILHARMONIC ASSOCIATION 135 N GRAND AVENUE LOS ANGELES,CA90012	N/A	PC	ARTS	250,000
WALT DISNEY ELEMENTARY SCHOOL 200 LAKESIDE DRIVE NORTH LEVITTOWN,PA19054	N/A	GOV	EDUCATION	10,000
CALIFORNIA INSTITUTE OF THE ARTS 24700 MCBEAN PARKWAY SANTA CLARITA,CA91355	N/A	PC	ARTS	300,000
Total ................................. 3a				11,693,450

bApproved for future payment
CALIFORNIA INSTITUTE OF THE ARTS 24700 MCBEAN PARKWAY SANTA CLARITA,CA91355	N/A	PC	ARTS	1,200,000
Total ................................. 3b				1,200,000

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	(e) Related or exempt function income (See instructions.)
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 ....			14	3,844,366
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 .....			18	14,011
8 Gain or (loss) from sales of assets other than inventory ............			18	2,689,865
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		6,548,242	0

13Total. Add line 12, columns (b), (d), and (e)..................

6,548,242

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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.)

Form 990-PF (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADMINISTRATION	119,797	11,980		100,914
AUDITING	31,000	3,100		27,900

- TIN:

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

TY 2023 ExpenditureResponsibilityStmt

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

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
WALT DISNEY FAMILY FOUNDATION	104 MONTGOMERY ST SAN FRANCISCO,CA94129	2023-01-01	1,300,000	GENERAL OPERATING SUPPORT	1,300,000	NO	1/31, 2/28, 3/31, 4/30, 5/31, 6/30, 7/31, 8/31, 9/30, 10/31, 11/30, 12/31	2023-12-31	ALL EXPENDITURES WERE MADE FOR PROPER PURPOSES.

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	196,036	196,036
AMAZON.COM INC	206,286	206,286
AMERICAN EXPRESS CO	840,869	840,869
AMERICAN HONDA FINANCE CORP	733,864	733,864
AMERICAN TOWER CORP	192,808	192,808
AMGEN INC	187,653	187,653
ANHEUSER-BUSCH INBEV WORLDWIDE INC	207,659	207,659
APPLE INC	193,946	193,946
AT&T INC	846,306	846,306
BANK OF AMERICA CORP	1,498,987	1,498,987
BANK OF MONTREAL	330,175	330,175
BANK OF NEW YORK MELLON	319,951	319,951
BP CAPITAL MARKETS	626,106	626,106
CAPITAL ONE FINANCIAL CORP	473,772	473,772
CATERPILLAR FINANCIAL SERVICES CORP	485,164	485,164
CENTERPOINT ENERGY INC	191,352	191,352
CHARLES SCHWAB CORP	830,057	830,057
CHARTER COMMUNICATIONS OPERATING LLC	662,377	662,377
CITIGROUP INC	907,875	907,875
COCA-COLA CO	132,835	132,835
COMCAST CORP	845,015	845,015
CSX CORP	193,533	193,533
CVS HEALTH CORP	178,784	178,784
DUKE ENERGY CORP	191,643	191,643
ENBRIDGE INC	329,274	329,274
ENTERPRISE PRODUCTS OPERATING LLC	200,014	200,014
FISERV INC	215,989	215,989
GENERAL MILLS INC	198,976	198,976
GENERAL MOTORS FINANCIAL CO INC	852,550	852,550
GEORGIA POWER CO	698,198	698,198
GOLDMAN SACHS GROUP INC	1,156,725	1,156,725
HSBC HOLDINGS	220,317	220,317
INTEL CORP	200,076	200,076
INVESCO SR FLOATING RATE Y	5,149,278	5,149,278
JOHN DEERE CAPITAL CORP	1,021,832	1,021,832
JPMORGAN CHASE & CO	853,605	853,605
KEURIG DR PEPPER INC	198,461	198,461
LAM RESEARCH CORP	180,076	180,076
LOWE'S COS INC	133,361	133,361
MARSH & MCLENNAN COS INC	201,555	201,555
MERCK & CO INC	183,841	183,841
MITSUBISHI UFJ FINL GRP INC	227,611	227,611
MIZUHO FINANCIAL GROUP INC	214,688	214,688
MORGAN STANLEY	642,270	642,270
MPLX LP	124,223	124,223
NEXTERA ENERGY CAPITAL HOLDINGS INC	185,821	185,821
NISOURCE INC	187,809	187,809
NORTHROP GRUMMAN CORP	194,324	194,324
NVIDIA CORP	163,188	163,188
ORACLE CORP	201,096	201,096
PAYPAL HOLDINGS INC	184,578	184,578
PEPSICO INC	330,006	330,006
PUBLIC STORAGE OPERATING CO	413,440	413,440
ROYAL BANK OF CANADA	828,304	828,304
RTX CORP	245,568	245,568
SHELL INTERNATIONAL FINANCE	193,538	193,538
SHIRE ACQUISITIONS INVESTMENTS IRELAND	218,275	218,275
SOUTHERN CALIFORNIA EDISON CO	655,059	655,059
T-MOBILE USA INC	180,928	180,928
TORONTO-DOMINION BANK	183,593	183,593
TOYOTA MOTOR CREDIT CORP	1,020,582	1,020,582
TRANSCANADA PIPELINES LTD	195,970	195,970
TRUIST FINANCIAL CORP	323,131	323,131
UNION PACIFIC CORP	198,224	198,224
UNITEDHEALTH GROUP INC	187,804	187,804
VERIZON COMMUNICATIONS	1,021,394	1,021,394
VIRGINIA ELECTRIC AND POWER CO	180,902	180,902
WELLS FARGO & CO	863,390	863,390

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3I GROUP	54,657	54,657
ABB LTD	39,753	39,753
ACCELLERON INDS LTD	31	31
ACV AUCTIONS	70,145	70,145
AENA SME	29,003	29,003
AGNC INVESTMENT CORP	186,567	186,567
AGRICULTURAL BK CHINA LTD	101,054	101,054
AIR LIQUIDE	22,451	22,451
AJINOMOTO INC	25,429	25,429
ALARM COM HLDGS INC	119,224	119,224
ALCON INC	3,750	3,750
ALIBABA GROUP HLDG LTD	2,325	2,325
ALIGN TECHNOLOGY	152,344	152,344
AMBEV	24,010	24,010
AMERICAN EXPRESS CO	263,400	263,400
AMN HEALTHCARE SVCS INC	290,609	290,609
ANHUI CONCH CEMENT	16,148	16,148
ANSYS INC	342,922	342,922
AP MOLLAR-MAERSK	14,392	14,392
ARGENX	32,717	32,717
ASGN INC	225,038	225,038
ASSOC BRITISH FDS	25,588	25,588
ASTELLAS PHARMA INC	16,097	16,097
ASTRAZENECA	10,641	10,641
AT&T INC	414,567	414,567
ATOS ORIGIN	989	989
AUTO TRADER GROUP	36,269	36,269
AUTOHOME INC	17,790	17,790
AUTOZONE INC	620,546	620,546
AVANTOR INC	282,293	282,293
BAE SYS	35,051	35,051
BANCO BILBAO VIZ ARG	3,289	3,289
BANCO SANTANDER	3,291	3,291
BANK OF CHINA	149,355	149,355
BANK OF NOVA SCOTIA	16,068	16,068
BANK RAKYAT INDONESIA	9,649	9,649
BARRICK GOLD CORP	158,179	158,179
BCE INC	22,722	22,722
BERKSHIRE HATHAWAY	831,018	831,018
BIO-TECHNE CORP	213,270	213,270
BLACKLINE INC	116,638	116,638
BOC HONG KONG LTD	70,373	70,373
BOOKING HOLDINGS INC	429,214	429,214
BRIDGESTONE	19,179	19,179
BROOKFIELD CORP	753,855	753,855
BROOKFIELD RENEWABLE CORP	157,337	157,337
CAMECO CORP	16,594	16,594
CANADIAN NATL RAILWAY CO	81,785	81,785
CANADIAN NATURAL RESOURCES LTD	5,700	5,700
CANADIAN PACIFIC KANSAS CITY	372,214	372,214
CANON INC	69,944	69,944
CARLSBERG	502	502
CCC INTELLIGENT SOLUTIONS HLD	94,799	94,799
CDN IMPL BK COMMERCE	34,853	34,853
CENCORA INC	205,380	205,380
CENOVUS ENERGY INC	3,347	3,347
CENTENE CORPORATION	626,258	626,258
CERTARA INC	78,451	78,451
CGI INC	438,596	438,596
CHARLES RIVER LABS INTL INC	167,844	167,844
CHARLES SCHWAB CORP	291,230	291,230
CHECK POINT SOFTWARE TECH LTD	50,115	50,115
CHINA CONSTRUCTION BANK CORP	65,231	65,231
CHUNGHWA TELECOM LTD	139,949	139,949
CISCO SYS INC	142,264	142,264
CLP HOLDINGS LTD	41,972	41,972
COGNEX CORP	104,433	104,433
COMCAST CORP	857,004	857,004
COMMERCIAL INTL BNK LTD	27,943	27,943
COMMERZ BANK	7,334	7,334
COMPASS GROUP	297,188	297,188
COSTAR GROUP INC	315,128	315,128
COTERRA ENERGY INC	214,368	214,368
CREDICORP LTD	89,358	89,358
CVS HEALTH CORP	637,049	637,049
DAI NIPPPN PRGT LTD JAPAN	38,894	38,894
DANONE	54,838	54,838
DBS GROUP HOLDINGS LTD	133,124	133,124
DENSO CORP LTD	29,208	29,208
DESCARTES SYSTEMS GROUP INC	81,538	81,538
DIGITALBRIDGE GROUP INC	345,538	345,538
DOLLAR GEN CORP	240,224	240,224
DOLLAR TREE INC	192,336	192,336
DOUBLEVERIFY HLDGS INC	144,472	144,472
DR REDDY'S LABORATORIES LTD	135,820	135,820
ELBIT SYSTEMS LTD	25,590	25,590
ELEMENT SOLUTIONS INC	241,235	241,235
ENERSYS	394,754	394,754
ENI SPA AMER DEP RCPT	8,162	8,162
ENTEGRIS INC	131,922	131,922
EURONET WORLDWIDE INC	297,366	297,366
EXPEDIA GROUP INC	298,571	298,571
EXPONENT INC	126,513	126,513
FAST RETAILING LTD	6,701	6,701
FASTENAL CO	299,950	299,950
FERRARI	39,258	39,258
FIDELITY NATL INFORMATION	216,312	216,312
FIRST EAGLE OVERSEAS I	7,799,088	7,799,088
FISERV INC	1,180,549	1,180,549
FIVE BELOW	318,887	318,887
FIVE9 INC	78,297	78,297
FLOOR & DECOR HLDGS INC	95,718	95,718
FLUTTER ENTMT	88	88
FMC CORP	193,564	193,564
FRANCO-NEVADA CORP	5,097	5,097
FRESHPET INC	82,075	82,075
FUCHS	46,240	46,240
FUJIFILM HLDGS CORP	27,767	27,767
FUJITSU LTD	7,847	7,847
GENL DYNAMICS CORP	293,167	293,167
GENMAB	30,248	30,248
GENTING BERHAD	3,871	3,871
GLOBANT	338,646	338,646
GLOBE LIFE INC	270,462	270,462
GODADDY INC	169,219	169,219
GOLDMAN SACHS GQG INTL OPP I	5,963,915	5,963,915
GRAND CANYON ED INC	269,626	269,626
GREEK ORGANISATION OF FOOTBALL	11,545	11,545
GRID DYNAMICS HLDGS	74,728	74,728
GSK	352,552	352,552
GUIDEWIRE SOFTWARE INC	182,097	182,097
HALEON	18,600	18,600
HANESBRANDS INC	154,940	154,940
HANG SENG BANK LTD	105,919	105,919
HARTFORD FIN SERS GRP INC	326,182	326,182
HEICO CORP	343,073	343,073
HEIDELBERG MATERIALS	4,649	4,649
HEINEKEN	679,955	679,955
HENKEL AG & CO	137,889	137,889
HONDA MOTOR COMPANY LTD	180,143	180,143
HONG KONG & CHINA GAS LTD	46,490	46,490
HOWARD HUGHES HOLDINGS INC	205,748	205,748
ICICI BANK LTD	9,012	9,012
ICL GROUP LTD	56,382	56,382
IMPERIAL OIL LTD	44,437	44,437
INDUSTRIA DE DISENO TEXTIL IND	111,242	111,242
INDUSTRIAL & COML BK CHINA	99,787	99,787
INFOSYS LIMITED	100,851	100,851
INGREDION INC	299,326	299,326
INPEX CORPORATION	22,425	22,425
INTERNATIONAL DISTRIBUTIONS	26,014	26,014
ISHARES 0-3 MONTH TREASURY B	385,839	385,839
ISUZU MOTORS LTD	20,532	20,532
ITOCHU CORP	20,208	20,208
J SAINSBURY	4,860	4,860
JACK HENRY & ASSOC INC	85,954	85,954
JARDINE MATHESON HLDGS LTD	67,667	67,667
JOHNSON & JOHNSON	108,934	108,934
JONES LANG LASALLE INC	234,388	234,388
JOYY INC	10,957	10,957
KAO CORP	41,099	41,099
KBC GROUP	24,000	24,000
KDDI CORP	40,634	40,634
KEMPER CORP	325,602	325,602
KENVUE INC	323,660	323,660
KERRY	35,626	35,626
KFORCE.COM	149,308	149,308
KINGFISHER	6,203	6,203
KINSALE CAP GROUP INC	89,086	89,086
KIRIN BREWERY CO LTD	43,276	43,276
KOMATSU LTD	23,361	23,361
KONINKLIJKE	144,036	144,036
KORNIT DIGITAL LTD	47,593	47,593
KYOCERA	97,469	97,469
LOREAL CO	67,205	67,205
LENOVO GROUP LTD	19,075	19,075
LIBERTY MEDIA	296,290	296,290
LKQ CORPORATION	335,247	335,247
LOCKHEED MARTIN CORP	364,405	364,405
LOGITECH INTL	22,175	22,175
MARKEL GROUP INC	685,812	685,812
MARRIOTT VACATIONS WORLDWIDE	186,758	186,758
MARUBENI CORP	3,161	3,161
MATCH GROUP INC	145,599	145,599
MCKESSON CORP	930,590	930,590
MEDPACE HOLDINGS, INC	146,521	146,521
MEDTRONIC	325,978	325,978
META PLATFORMS INC	164,945	164,945
MICHELIN COMPAGNIE GENERALE DE	21,873	21,873
MICROSOFT CORP	727,637	727,637
MILLERKNOLL INC	443,582	443,582
MITSUBISHI ELECTRIC	46,707	46,707
MITSUI & CO LTD	3,006	3,006
MSC INDL DIRECT CO	258,719	258,719
MUENCHENER RUECK	6,630	6,630
MURATA MANUFACTURING CO LTD	49,615	49,615
NATL FUEL GAS CO	180,512	180,512
NEOGEN CORP	75,191	75,191
NESTLE	68,703	68,703
NETEASE.COM INC	4,099	4,099
NICE LTD	4,788	4,788
NINTENDO CO LTD	77,265	77,265
NIPPON TELEGRAPH & TELEPHONE	69,216	69,216
NIPPON YUSEN KABUHIKI	10,480	10,480
NITTO DENKO CORPORATION	21,852	21,852
NNN REIT INC	165,633	165,633
NOKIA	34,525	34,525
NOVARTIS	599,863	599,863
NOVO NORDISK	68,484	68,484
NUTRIEN LTD	18,476	18,476
ONO PHARMACEUTICAL CO LTD	44,421	44,421
OPEN TEXT CORP	612,442	612,442
OPTION CARE HEALTH INC	88,942	88,942
ORACLE CORP	563,840	563,840
ORANGE	35,136	35,136
OSHKOSH CORP	248,909	248,909
OTSUKA HOLDINGS CO LTD	80,509	80,509
PAYCOM SOFTWARE INC	177,779	177,779
PAYLOCITY HOLDING CORPORATION	184,797	184,797
PAYPAL HLDGS INC	264,063	264,063
PEARSON	36,796	36,796
PEMBINA PIPELINE CORP	10,946	10,946
PERNOD RICARD	12,176	12,176
PNC FINL SVCS	297,931	297,931
PORSCHE AUTOMOBIL HLDG	18,975	18,975
PPG INDUSTRIES INC	198,004	198,004
PPL CORPORATION	175,364	175,364
PRIVIA HEALTH GROUP INC	92,074	92,074
PROGYNY INC	112,098	112,098
PT BK CENT ASIA TBK	76,040	76,040
PT TELEKOMUNIKASI INDONESIA	58,965	58,965
PT UNITED TRACTORS	6,759	6,759
RB GLOBAL INC	221,740	221,740
REALTY INCOME CORP	651,143	651,143
REMY COINTREAU	1,397	1,397
REPLIGEN CP	122,084	122,084
REPSOL	35,942	35,942
ROCHE HOLDINGS	80,865	80,865
ROLLINS INC	186,253	186,253
SALOMON BROS MTG	2,844	2,844
SAMPO OYJ	5,601	5,601
SANDOZ GROUP	5,659	5,659
SANOFI	339,457	339,457
SANTEN PHARMACEUTICAL CO	28,991	28,991
SAP	62,300	62,300
SECOM LTD	68,142	68,142
SEKISUI HOUSE LTD	20,061	20,061
SEVEN & I HLDGS CO LTD	18,414	18,414
SHELL	174,633	174,633
SHIN ETSU CHEM CO LTD	11,500	11,500
SINGAPORE AIRLS LTD	3,143	3,143
SINGAPORE TELECOM LTD	126,132	126,132
SK TELECOM LTD	43	43
SMITH & NEPHEW	384,375	384,375
SMITHS GROUP	27,449	27,449
SOFTBANK CORP	16,587	16,587
SOUTHERN COPPER CORP	33,481	33,481
SPARK NEW ZEALAND LTD	19,859	19,859
SPDR BLOOMBERG 1-3 MONTH T-B	388,773	388,773
SPS COMMERCE INC	160,112	160,112
SQUARESPACE INC	105,302	105,302
SS&C TECHNOLOGIES HLDGS INC	225,801	225,801
STANTEC INC	9,462	9,462
STELLANTIS	25,349	25,349
SUN HUNG KAI PPTYS LTD	35,365	35,365
SUNTORY BEVERAGE AND FOOD LTD	86,616	86,616
SWATCH GROUP	20,915	20,915
SWIRE PACIFIC	7,449	7,449
SWISSCOM	143,086	143,086
TAIWAN SMCNDCTR MFG CO LTD	177,840	177,840
TARO PHARMACEUTICAL IND LTD	22,185	22,185
TELEFONICA BRASIL	103,492	103,492
TENARIS	12,896	12,896
TENCENT HLDGS LTD	28,116	28,116
TESCO	21,098	21,098
TFI INTL INC	13,326	13,326
THE ENSIGN GROUP INC	167,417	167,417
THERMO FISHER SCIENTIFIC	350,321	350,321
THOMSON REUTERS CORP	72,525	72,525
TIM	36,183	36,183
TOAST INC	96,504	96,504
TORONTO DOM BK	48,336	48,336
TOSHIBA CORP	29,484	29,484
TOTALENERGIES	349,163	349,163
TRAVELERS COMPANIES INC	214,492	214,492
TREEHOUSE FOODS INC	149,220	149,220
TREND MICRO INC	5,033	5,033
TRUIST FINL CORP	232,522	232,522
TURKCELL ILETISM HIZM	24,517	24,517
TYLER TECHNOLOGIES INC	295,193	295,193
U HAUL HOLDING COMPANY	423,405	423,405
U S BANCORP	300,753	300,753
UNICREDIT	12,455	12,455
UNILEVER	673,096	673,096
UNION PACIFIC CORP	567,873	567,873
UNITED PARCEL SER INC	129,243	129,243
UOL GRP LTD	27,746	27,746
UTD MICROELECTR	76,529	76,529
UTD OVERSEAS BK LTD	42,273	42,273
VALVOLINE INC	413,192	413,192
VERISK ANALYTICS INC	106,770	106,770
VERIZON COMMUNICATIONS	393,362	393,362
VERTIV HOLDINGS LLC	852,773	852,773
VIPSHOP HLDGS LTD	14,634	14,634
VISA INC	598,284	598,284
VIVENDI	20,149	20,149
VODAFONE GROUP	11,354	11,354
WAL-MART DE MEXICO	46,752	46,752
WALT DISNEY CO HLDG CO	4,705,734	4,705,734
WARNER BROS DISCOVERY INC	316,705	316,705
WATSCO INC	178,672	178,672
WELLS FARGO & CO	339,126	339,126
WESCO INTL INC	580,759	580,759
WEST FRASER TIMBER CO	15,832	15,832
WEST PHARMACEUTICAL SVCS INC	289,443	289,443
WEX INC COM	222,760	222,760
WH GROUP	63,202	63,202
WHARF HOLDING LTD	20,183	20,183
WILLIAMS CO INC	310,927	310,927
WIPRO LTD	156,060	156,060
WOORI FINANCIAL GROUP INC	30	30
WORKIVA INC	219,102	219,102
ZEBRA TECH	519,327	519,327
ZOOMINFO TECHNO INC	58,724	58,724
ZTO EXPRESS CAYMAN INC	22,174	22,174
ZURICH INSURANCE GRP LTD	3,659	3,659

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

US Government Securities - End of Year Book Value:

1,985,767

US Government Securities - End of Year Fair Market Value:

1,985,767

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

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

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
SHERPAVENTURES FUND II, LP	FMV	665,077	665,077
SHERPAEVEREST FUND, LP	FMV	662,963	662,963
BRIDGE MULTIFAMILY III INTERNATIONAL FUNDS	FMV	58,673	58,673
BLUE OWL OAK STREET	FMV	3,165,444	3,165,444
OAKTREE STRATEGIC CREDIT FUND	FMV	8,796,848	8,796,848
KKR OPPORTUNITIES (OFFSHORE) FUND PRIVATE INVESTORS II-A L.P.	FMV	404,918	404,918
FORESITE CAPITAL FUND IV, L.P.	FMV	1,487,816	1,487,816
DOUBLELINE OPPORTUNISTIC INCOME FUND II LTD	FMV	2,004,936	2,004,936
TRIAN PARTNERS, LTD.	FMV	5,813,322	5,813,322
FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP	FMV	5,559,603	5,559,603
BRIDGE SENIORS I INTERNATIONAL FUNDS	FMV	2,599,643	2,599,643
STEADFAST INTERNATIONAL LTD.	FMV	2,848,832	2,848,832
BRIDGE MULTIFAMILY IV INTERNATIONAL FUNDS	FMV	3,944,785	3,944,785
PE PREMIER BLACKSTONE LIFE SCIENCES V OFFSHORE FEEDER LP	FMV	528,171	528,171
TVM LIFE SCIENCE INNOVATION II SCSP	FMV	1,002,067	1,002,067
KKR DISLOCATION OPPORTUNITIES (TE) FEEDER L.P.	FMV	1,352,386	1,352,386
FORESITE CAPITAL FUND V, LP	FMV	2,154,470	2,154,470
MAKENA PERPETUAL VENTURE CAPITAL FUND (CAYMAN), L.P.	FMV	2,404,782	2,404,782
BRIDGE MULTIFAMILY V INTERNATIONAL FUNDS	FMV	1,063,418	1,063,418
BLACKSTONE REAL ESTATE INCOME TRUST, INC.	FMV	53,355	53,355

- TIN:

TY 2023 LegalFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	5,335	534		4,802

- TIN:

TY 2023 OtherExpensesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
INSURANCE	8,781	7,903	878
OFFICE/ADMIN	74	67	7
PASSTHROUGH DEDUCTIONS	0	139,286	0

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER PASSTHROUGH INCOME	0	279,491	0
OTHER INVESTMENT INCOME	14,011	14,011	14,011

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Amount
UNREALIZED GAINS OR LOSSES ON INVESTMENTS	6,285,738

- TIN:

TY 2023 OtherLiabilitiesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Beginning of Year - Book Value	End of Year - Book Value
DEFERRED EXCISE TAX LIABILITY	270,967	367,838

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	651,581	651,581		0
CONSULTING FEES	18,100	1,810		16,290

- TIN:

TY 2023 TaxesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX ON INVESTMENTS	58,292	58,292		0
FEDERAL EXCISE TAX	97,088	0		0