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 01-01-2023 , and ending 12-31-2023
Name of foundation
THE PENNELL FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2486
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GREENVILLE, SC29602
A Employer identification number

83-4694955
B Telephone number (see instructions)

(864) 421-9245
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$13,951,731J 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      
4 Dividends and interest from securities... 351,043 351,043  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -104,089
b Gross sales price for all assets on line 6a 7,114,071
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,330 2,330  
12 Total. Add lines 1 through 11........ 249,284 353,373  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,950 0   4,950
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
72,803 72,803   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
6,131 2,631   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,402 4,402   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 88,286 79,836   4,950
25 Contributions, gifts, grants paid....... 600,000 600,000
26 Total expenses and disbursements. Add lines 24 and 25 688,286 79,836   604,950
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -439,002
b Net investment income (if negative, enter -0-) 273,537
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.............      
2 Savings and temporary cash investments......... 1,240,538 1,276,728 1,276,728
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).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 3,175,156 Click to see attachment
List of Attached Documents:
// Content
2,847,046 		3,896,898
c Investments—corporate bonds (attach schedule)....... 2,018,005 Click to see attachment
List of Attached Documents:
// Content
2,143,431 		2,078,217
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 6,220,855 Click to see attachment
List of Attached Documents:
// Content
5,948,347 		6,699,888
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 12,654,554 12,215,552 13,951,731
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 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........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 12,654,554 12,215,552
29 Total net assets or fund balances (see instructions)..... 12,654,554 12,215,552
30 Total liabilities and net assets/fund balances (see instructions). 12,654,554 12,215,552
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
12,654,554
2
Enter amount from Part I, line 27a .....................
2
-439,002
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
12,215,552
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
12,215,552
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 PUBLICLY TRADED SECURITIES      
b BAY AVENUE      
c
d
e
(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 7,110,472   7,218,160 -107,688
b 3,599     3,599
c
d
e
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       -107,688
b       3,599
c
d
e
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 -104,089
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 3,802
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 3,802
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 3,802
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,372
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 4,372
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.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 570
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow570 Refundedright arrow 11 0
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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 arrowSC
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 .Click to see attachment
List of Attached Documents:
// Content
8b
 
No
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 arrowRICHARD H PENNELL JR Telephone no.right arrow (864) 420-9797

Located atright arrowPO BOX 2486GREENVILLESC ZIP+4right arrow29602
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
 
 
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
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
RICHARD H PENNELL JR CHAIRPERSON
1.00 		0 0 0
PO BOX 2486
GREENVILLE,SC29602
NANCY N PENNELL TRUSTEE
1.00 		0 0 0
PO BOX 2486
GREENVILLE,SC29602
ALLEN N PENNELL ALBERGOTTI TRUSTEE
1.00 		0 0 0
PO BOX 2486
GREENVILLE,SC29602
RICHARD H PENNELL III TRUSTEE
1.00 		0 0 0
PO BOX 2486
GREENVILLE,SC29602
JAMES D PENNELL TRUSTEE
1.00 		0 0 0
PO BOX 2486
GREENVILLE,SC29602
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 arrow0
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
10,098,356
b
Average of monthly cash balances.......................
1b
1,074,321
c
Fair market value of all other assets (see instructions)................
1c
2,068,049
d
Total (add lines 1a, b, and c).........................
1d
13,240,726
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
13,240,726
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
198,611
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
13,042,115
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
652,106
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
652,106
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
3,802
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
3,802
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
648,304
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
648,304
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
648,304
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
604,950
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
604,950
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 7 648,304
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 477,425
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 604,950
a Applied to 2022, but not more than line 2a 477,425
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..... 127,525
e Remaining amount distributed out of corpus 0
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 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 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 .......... 		520,779
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) ... 		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....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
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).)
RICHARD H PENNELL JR
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
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)
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

THE FAMILY EFFECT

1400 CLEVELAND ST
GREENVILLE,SC29607 		N/A PC FOR WOMEN AND CHILDREN TRANSITIONAL HOUSING 500,000

EMORY UNIVERSITY

201 DOWMAN DR NE
ATLANTA,GA30322 		N/A PC BRIAN WARONKER ENDOWED FUND FOR ADDICTION & RECOVERY 100,000
Total .................................right arrow 3a 600,000
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
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 ....     14 351,043  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 2,330  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -104,089  
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) .. 0 249,284 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
249,284
(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.)
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:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEES 4,950 0   4,950

TY 2023 ExplnOfNonFilingWithAGStmt
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Statement:
THE SOUTH CAROLINA ATTORNEY GENERAL'S OFFICE DOES NOT REQUIRE THAT A COPY BE FILED WITH THEIR OFFICE. INSTEAD, THEY MAINTAIN THE RIGHT TO RECEIVE THE FILING IF THEY SO CHOOSE. THE FOUNDATION WILL COMPLY WITH ANY SUCH REQUEST AS APPLICABLE.

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Name of Bond End of Year Book Value End of Year Fair Market Value
OLD REP INTL CORP SR GLBL NT 153,450 148,826
VMWARE INC SR NT 154,161 148,494
PENSKE TRUCK LEASING CO L P SR 144A 149,580 151,188
GOLDMAN SACHS BDC INC SR NT 149,569 142,842
ALLY FINL INC SR GLBL 156,423 150,129
CONAGRA BRANDS INC SR GLBL NT 148,194 149,750
L3HARRIS TECHNOLOGIES INC GLBL NT 150,246 153,113
BLACKROCK TCP CAPITAL CORP SR GLBL 148,215 140,003
F N B CORP GLBL NT 148,806 148,856
SYNCHRONY FINANCIAL SR GLBL 152,632 141,165
T MOBILE USA INC SR SEC GLBL NT 152,205 146,829
DISNEY WALT CO SR GLBL NT 175,865 163,602
KEURIG DR PEPPER INC SR GLBL 152,591 145,745
LABORATORY CORP AMER HLDGS SR GLBL 151,494 147,675

TY 2023 InvestmentsCorpStockSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Name of Stock End of Year Book Value End of Year Fair Market Value
3M CO COM 8,358 9,074
MUNICH RE GROUP UNSPONSORED ADR 15,874 27,431
MSCI INC COM 21,442 23,192
MONOTARO CO LTD UNSPONSORD ADR 16,460 21,327
MONOLITHIC PWR SYS INC COM 4,448 16,400
MONDELEZ INTL INC CL A 2,120 2,970
MODINE MFG CO COM 3,844 6,806
MODEL N INC COM 3,170 3,393
MITSUBISHI UFJ FINL GROUP INC 9,294 14,663
MICROSOFT CORP COM 61,171 181,251
MICROCHIP TECHNOLOGY INC COM 25,321 29,579
MICHELIN COMPAGNIE GENERALE DES 17,999 19,220
METTLER TOLEDO INTERNATIONAL COM 8,785 12,130
METLIFE INC COM 1,886 2,050
META PLATFORM, INC. 11,970 13,450
MERCK & CO INC NEW COM 4,196 5,342
MERCADOLIBRE INC COM 9,787 17,287
MEDTRONIC PLC SHS 41,646 34,023
MEDPACE HLDGS INC COM 2,175 3,372
MAXIMUS INC COM 3,150 3,606
NATERA INC COM 8,759 13,530
MATERION CORP COM 2,344 3,644
NESTLE S A SPONSORED ADR REPSTG REG 14,143 13,671
NIDEC CORP SPONSORED ADR 10,947 7,524
PAYPAL HLDGS INC COM 15,853 10,317
PAYCHEX INC COM 2,472 3,454
PAN PAC INTL HLDGS CORP UNSPONSORED 8,950 12,599
PACCAR INC COM 2,322 3,711
OTSUKA HLDGS CO LTD UNSPONSORED ADR 16,398 17,539
OSHKOSH CORP COM 22,716 21,465
ONTO INNOVATION INC COM 2,485 4,434
ONEOK INC NEW COM 2,211 2,458
OLD REPUBLIC INTL CORP COM 1,479 2,234
OLD DOMINION FREIGHT LINE INC COM 3,799 4,053
OGE ENERGY CORP COM 3,065 2,794
OCCIDENTAL PETE CORP COM 44,330 46,032
O REILLY AUTOMOTIVE INC NEW COM 8,155 24,702
NVIDIA CORP COM 20,180 40,113
NOVO-NORDISK A S ADR 9,188 26,483
NORWEGIAN CRUISE LINE HLDG LTD SHS 9,990 11,864
NETFLIX INC COM 3,492 5,356
PEPSICO INC COM 3,559 5,095
MATADOR RES CO COM 5,091 5,288
MARTIN MARIETTA MATLS INC COM 24,485 31,930
JAZZ PHARMACEUTICALS PLC SHS USD 18,679 16,482
J P MORGAN CHASE & CO COM 5,774 9,526
J & J SNACK FOODS CORP COM 2,200 2,340
ITT INC COM 3,535 6,801
INTUIT INC COM 19,263 25,626
INTER PARFUMS INC COM 1,274 3,024
INTEL CORP COM 4,946 6,834
INTEGRA LIFESCIENCES HLDGS CP COM 1,664 1,394
INSULET CORP COM 2,151 3,472
INSTALLED BLDG PRODS INC COM 3,290 4,388
INGEVITY CORP COM 2,799 2,361
INFOSYS LTD SPONSORED ADR 17,648 21,578
ZEBRA TECHNOLOGIES CORP CL A 7,373 9,840
ICON PLC SHS 22,972 23,495
ICF INTL INC COM 8,578 14,616
HUNTSMAN CORP COM 1,885 1,860
HUBSPOT INC COM 1,611 2,322
HUB GROUP INC CL A 3,250 5,792
JOHNSON & JOHNSON COM 2,577 6,426
MASTERCARD INC CL A 881 3,839
KDDI CORP ADR 12,589 14,749
MARRIOTT INTERNATIONAL CL A 2,342 3,834
MARATHON PETE CORP COM 1,769 2,225
MADDEN STEVEN LTD COM 3,422 4,074
LVMH MOET HENNESSY LOU VUITTON ADR 19,941 20,584
LULULEMON ATHLETICA INC COM 2,812 5,113
LONZA GROUP AG UNSPONSORED ADR 18,905 19,332
LKQ CORP COM 2,555 2,676
LITTELFUSE INC COM 3,941 4,281
LINDE PLC SHS 15,356 23,410
LILLY ELI & CO COM 1,661 7,578
LIBERTY BROADBAND CORP COM SER C 2,721 1,451
LENNAR CORP CL A 34,748 48,736
LANTHEUS HLDGS INC COM 11,288 13,206
LANDSTAR SYS INC COM 2,991 3,486
LAM RESH CORP COM 2,107 7,049
LABORATORY CORP AMER HLDGS COM NEW 1,607 1,591
KROGER CO COM 1,857 2,560
KLA CORPORATION 12,948 23,252
KIMBERLY CLARK CORP COM 3,190 2,916
KBR INC COM 5,598 7,536
HONEYWELL INTERNATIONAL INC COM 15,025 19,084
PFIZER INC COM 4,326 3,685
UNITEDHEALTH GROUP INC COM 25,087 31,588
UNITED CMNTY BKS BLAIRSVLE GA COM 3,868 3,745
UNITED BANKSHARES INC WEST VA COM 2,611 3,455
ULTA BEAUTY, INC 2,731 3,430
UFP INDUSTRIES INC COM 2,789 5,775
UBER TECHNOLOGIES INC COM 2,182 2,955
TYLER TECHNOLOGIES INC COM 14,771 19,234
TRAVELERS COS INC COM 1,782 2,095
TRANE TECHNOLOGIES PLC SHS 1,877 2,683
TRADEWEB MKTS INC CL A 11,895 16,449
TOTALENERGIES SE 22,811 32,006
TIMKEN CO COM 2,721 2,725
THE CIGNA GROUP 2,021 3,294
TEXTRON INC COM 1,487 2,654
TEXAS ROADHOUSE INC COM 3,566 5,134
TESLA, INC 1,246 12,424
TENABLE HLDGS INC COM 1,560 1,704
UNIVERSAL DISPLAY CORP COM 5,316 6,885
TARGET CORP COM 1,779 1,851
UNIVERSAL ELECTRS INC COM 2,438 629
VAIL RESORTS INC COM 2,579 2,562
YUM BRANDS INC COM 21,791 21,820
WORKDAY INC CL A 21,956 26,226
WNS HLDGS LTD SPON ADR 4,407 4,803
WILLIAMS SONOMA INC COM 811 3,228
WESTROCK CO COM 2,880 2,740
WESTLAKE CORPORATION 1,500 2,239
WELLS FARGO & CO NEW COM 4,382 5,119
WALMART INC. 3,820 4,572
WALGREENS BOOTS ALLIANCE INC COM 2,233 1,984
WABTEC CORP COM 1,361 3,299
VISA INC COM CL A 45,974 67,170
VICOR CORP COM 2,882 2,517
VERTEX PHARMACEUTICALS INC COM 23,146 25,634
VERIZON COMMUNICATIONS INC COM 4,916 3,695
VERISK ANALYTICS INC COM 4,940 20,542
VERICEL CORP COM 2,112 2,279
VERACYTE INC COM 2,600 2,503
VEEVA SYS INC CL A COM 16,537 16,942
VALERO ENERGY COM 2,500 2,470
UNIVERSAL MUSIC GROUP NV UNSPONSORED 16,973 19,317
SYNCHRONY FINL COM 1,465 1,719
RYAN SPECIALTY HOLDINGS, INC 12,469 14,369
RPM INTL INC COM 15,349 20,428
ROYALTY PHARMA PLC SHS CL A 19,506 18,596
ROCKET PHARMACEUTICALS INC COM 7,855 14,535
RENTOKIL INITIAL PLC SPONSORED ADR 19,846 16,451
REGENERON PHARMACEUTICALS COM 2,711 3,513
REGAL REXNORD CORPORATION 132 3,404
RBC BEARINGS INC COM 6,891 21,367
RAMBUS INC DEL COM 2,272 2,662
QUANTA SVCS INC COM 2,615 2,805
QUALYS INC COM 5,835 14,721
QUALCOMM INC COM 20,301 20,827
PURE STORAGE INC CL A 983 2,639
PULTE HOMES, INC 2,443 8,980
PUBLIC STORAGE COM 2,081 2,135
PROCTER & GAMBLE CO COM 8,826 19,197
PRICE T ROWE GROUP INC COM 4,637 4,738
POOL CORPORATION COM 4,067 15,151
PINNACLE WEST CAP CORP COM 3,412 3,233
S&P GLOBAL INC COM 21,832 29,515
SYNOPSYS INC COM 4,683 6,694
SALESFORCE INC 23,965 28,945
SAPIENS INTL CORP N V SHS 9,037 10,013
SYMRISE AG ADR 24,124 28,040
STRYKER CORP COM 3,884 4,192
STERIS PLC SHS USD 19,502 20,446
STATE STREET CORP COM 3,078 3,253
STANDEX INTL CORP COM 1,895 3,801
STAG INDL INC COM 3,529 3,926
SPX TECHNOLOGIES INC COM 2,484 5,556
SOUTHSTATE CORP 4,604 5,743
SONY CORP SPONSORED ADR 16,553 25,188
SNOWFLAKE INC CL A 2,002 2,587
SNAP-ON INC COM 2,519 5,199
SMUCKER J M CO COM NEW 1,549 1,643
SKYWORKS SOLUTIONS INC COM 1,989 2,698
SILICON LABORATORIES INC COM 3,189 3,968
SILGAN HOLDINGS INC COM 4,878 5,023
SHERWIN WILLIAMS CO COM 14,657 25,576
SERVICENOW INC COM 22,148 36,737
SEMPRA ENERGY COM 2,784 2,391
SEACOAST BKG CORP FLA COM NEW 4,167 4,838
SBA COMMUNICATIONS CORP NEW CL A 16,407 16,744
ILLUMINA INC COM 4,532 3,620
HENRY JACK & ASSOC INC COM 7,355 12,746
CARLISLE COS INC COM 1,727 4,999
CARDINAL HEALTH INC COM 2,615 3,024
CAPITAL ONE FINL CORP COM 2,246 2,229
CANADIAN PACIFIC KANSAS CITY COM 23,384 23,955
CAMECO CORP COM 9,301 29,049
CAESARS ENTERTAINMENT INC COM 3,015 2,485
CADENCE DESIGN SYSTEM INC COM 3,136 5,720
CACI INTL INC CL A 5,513 5,829
BWX TECHNOLOGIES INC COM 6,654 6,599
CARLYLE GROUP INC COM 2,676 3,662
BROOKFIELD CORP CL A LTD VT SH 19,306 19,538
BROADCOM INC COM 23,483 34,604
BRISTOL MYERS SQUIBB CO COM 5,002 4,618
BOSTON SCIENTIFIC CORP COM 2,726 3,006
BLUEPRINT MEDICINES CORP COM 7,878 16,142
BLOCK,INC. 2,224 3,017
BIOMARIN PHARMACEUTICAL INC COM 11,164 12,824
BIOGEN, INC. 2,387 2,846
BIO TECHNE CORP COM 2,831 3,318
BUNGE GLOBAL SA COM SHS 1,444 2,827
CARTERS INC COM 2,915 3,145
CASELLA WASTE SYS INC CL A 3,775 6,324
CASEYS GEN STORES INC COM 2,223 3,297
COMCAST CORP CL A 3,986 4,473
COLUMBIA SPORTSWEAR CO COM 1,272 1,511
HOLOGIC INC COM 3,967 3,430
COCA COLA CONS INC COM 1,666 2,785
COCA COLA CO COM 70,438 75,136
CLEVELAND CLIFFS INC NEW COM 2,677 3,083
CIVITAS RESOURCES INC COM NEW 4,517 4,308
CITIGROUP INC COM NEW 4,460 4,012
CISCO SYS INC COM 3,430 5,001
CIENA CORP COM NEW 2,754 2,701
CHURCHILL DOWNS INC COM 1,224 2,834
CHURCH & DWIGHT INC COM 7,360 9,834
CHUBB LIMITED COM 2,026 2,486
CHORD ENERGY CORPORATION COM NEW 3,801 3,990
CHOICE HOTELS INTL INC COM 1,817 1,813
CHINA MENGNIU DAIRY CO LTD 22,705 10,919
CHEVRON CORPORATION 1,490 4,475
CENTENE CORP DEL COM 1,706 2,078
CENCORA INC COM 1,825 2,259
CCC INTELLIGENT SOLUTIONS HLD COM 3,864 4,795
CBRE GROUP INC CL A 4,626 5,492
CATERPILLAR INC COM 1,824 4,435
BERRY GLOBAL GROUP INC COM 2,671 4,246
BANK OF AMERICA CORP COM 8,529 6,902
AMAZON.COM INC COM 50,772 103,015
ALTERYX INC COM CL A 2,253 2,028
ALPHABET INC CAP STK CL C 19,760 22,126
ALPHABET INC CAP STK CL A 18,874 67,051
ALLEGIANT TRAVEL CO COM 4,845 3,387
ALCON INC ORD SHS 33,978 41,794
ALBERTSONS COS INC COMMON STOCK 1,216 1,449
AIRBNB INC COM CL A 3,180 4,220
AMDOCS LTD SHS 2,441 2,812
AIR PRODS & CHEMS INC COM 2,223 2,190
AGILYSYS INC COM 3,428 5,174
ADVANCED MICRO DEVICES INC COM 3,578 5,454
ADVANCED ENERGY INDS COM 3,790 3,921
ADOBE INC. 29,099 64,433
ACCENTURE PLC CLASS A ORDINARY 12,815 25,967
ABBVIE INC COM 1,044 4,959
ABBOTT LABORATORIES COM 8,239 8,035
AAR CORP COM 1,762 3,557
AIA GROUP LTD SPONSORED ADR 38,059 29,456
AMERICAN AIRLS GROUP INC COM 2,729 2,693
BANK NEW YORK MELLON CORP COM 2,376 2,550
BADGER METER INC COM 1,326 2,624
AZEK CO INC CL A 2,219 3,825
AXONICS INC COM 2,482 2,738
AVNET INC COM 1,543 2,671
AUTODESK INC COM 19,695 20,696
ATLASSIAN CORPORATION CL A 12,578 18,791
AT&T INC COM 4,413 4,262
ASSA ABLOY AB ADR 10,481 14,072
ASPEN TECHNOLOGY INC COM 7,915 12,769
ARROW ELECTRS INC COM 1,884 2,201
ARISTA NETWORKS INC COM 3,002 6,123
ARCHER DANIELS MIDLAND CO COM 2,700 3,178
ARCH CAP GROUP LTD ORD 1,482 1,634
APPLE INC COM 25,021 87,409
AON PLC SHS CL A 23,421 22,700
ANSYS INC COM 10,506 17,781
AMPHENOL CORP CL A 5,744 23,097
AMGEN INC COM 19,277 25,058
AMETEK INC NEW COM 3,236 3,957
AMERIS BANCORP COM 2,124 3,501
AMERICAN TOWER CORPORATION 21,829 31,087
BERKSHIRE HATHAWAY INC DEL CL B NEW 6,060 10,343
CONOCOPHILLIPS COM 2,489 4,875
COGNIZANT TECH SOLUTIONS CRP COM 1,017 2,568
FIDELITY NATL INFORMATION SVCS INC 3,540 2,763
GENERAL DYNAMICS CORP COM 14,994 19,216
GALLAGHER ARTHUR J & CO COM 14,519 17,316
FTI CONSULTING INC COM 1,888 2,589
FREEPORT-MCMORAN INC CL B 2,029 2,724
FOX FACTORY HLDG CORP COM 3,416 3,374
FORWARD AIR CORP COM 1,499 1,635
FORTINET INC COM 902 2,809
FORD MOTOR COMPANY 2,219 1,658
FLEETCOR TECHNOLOGIES INC COM 11,782 14,696
FIVE9 INC COM 3,289 3,226
FIVE BELOW INC COM 2,434 3,837
FISERV INC COM 24,508 33,874
FIRSTCASH HOLDINGS INC COM 15,831 22,545
FIRST INDL RLTY TR INC COM 4,856 4,898
CONSOLIDATED EDISON INC COM 2,679 2,638
FEDEX CORP COM 1,856 2,024
FASTENAL CO COM 3,643 4,663
FANUC CORPORATION ADR 28,734 21,738
F M C CORP COM NEW 21,760 12,421
GENERAL ELECTRIC CO COM NEW 4,555 5,616
EXXON MOBIL CORP COM 4,178 8,598
GENERAL MILLS INC COM 2,271 2,540
GENMAB A S SPONSORED ADR 9,543 15,793
HEINEKEN N V SPONSORED ADR L 30,734 32,551
HEALTHPEAK PROPERTIES INC COM 2,745 2,138
HDFC BANK LTD ADR REPS 3 SHS 31,778 35,703
HARTFORD FINL SVCS GROUP INC COM 1,546 1,929
HALOZYME THERAPEUTICS INC COM 14,010 17,186
HALLIBURTON CO COM 43,387 45,214
HAIN CELESTIAL GROUP INC COM 2,453 1,215
GSK PLC SPONSORED ADR 15,500 13,749
GRIFFON CORP COM 3,093 3,474
GRAPHIC PACKAGING HLDG CO COM 2,642 3,229
GRAND CANYON ED INC COM 1,340 1,717
GOLDMAN SACHS GROUP INC COM 3,552 3,858
GLOBUS MED INC CL A 3,476 3,784
GLACIER BANCORP INC NEW 3,740 4,380
GILEAD SCIENCES INC COM 3,732 3,483
GILDAN ACTIVEWEAR INC COM 3,952 4,595
GENUINE PARTS CO COM 2,331 1,801
GENTEX CORP COM 3,474 3,985
GENERAL MTRS CO COM 2,240 2,730
EMCOR GROUP INC COM 2,873 5,170
CVS HEALTH CORPORATION 2,438 3,158
ELEMENT SOLUTIONS INC COM 3,155 5,160
ELECTRONIC ARTS INC COM 3,338 3,283
EAGLE MATERIALS INC COM 2,909 3,854
DYNATRACE INC COM NEW 11,109 15,477
DUKE ENERGY CORP NEW COM 2,396 2,329
DOLBY LABORATORIES INC COM CL A 15,949 17,839
DANAHER CORP COM 52,312 63,850
DISCOVER FINL SVCS COM 1,756 2,922
DEVON ENERGY CORP NEW COM 2,487 2,356
DESCARTES SYS GROUP INC COM 4,728 5,212
DATADOG INC CL A COM 2,554 2,792
DBS GROUP HOLDINGS-SPON ADR 14,460 19,655
ENCOMPASS HEALTH CORP COM 1,622 2,135
ENERSYS COM 2,547 3,736
EVERGY INC COM 3,501 2,767
COOPER COS INC COM NEW 10,230 13,245
COPART INC COM 14,751 38,269
EVEREST GROUP LTD 3,327 4,950
COSTCO WHSL CORP NEW COM 2,147 3,300
ERSTE GROUP BK A G SPONSORED ADR 8,754 10,874
EQUITY RESIDENTIAL COM 3,815 3,058
EQUINIX INC COM PAR 24,264 24,162
ENTEGRIS INC COM 9,042 13,060
ENSIGN GROUP INC COM 3,699 5,049
ENPRO INC 4,744 8,464
CRANE NXT CO COM 3,442 3,697
EQUITY COMWLTH COM SH BEN INT 3,444 2,669

TY 2023 InvestmentsOtherSchedule2
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
SPDR S&P 500 ETF TRUST AT COST 517,000 570,372
BAY AVENUE ABSOLUTE RET FD I (TAX EXEMPT), LLC AT COST 2,045,979 2,114,816
ISHARES CORE S&P SMALL-CAP ETF AT COST 157,334 168,221
ISHARES RUSSELL 2000 ETF AT COST 219,656 332,777
ISHARES RUSSELL 1000 VALUE ETF AT COST 1,039,142 1,245,489
GQG PARTNERS EMERGING MARKETS EQUITY AT COST 303,863 317,533
ISHARES RUSSELL 1000 GROWTH ETF AT COST 408,604 629,987
ISHARES MSCI USA QUALITY FACTOR ETF AT COST 197,932 243,811
ISHARES MSCI SOUTH KOREA ETF AT COST 26,644 24,508
ISHARES MSCI EAFE ETF AT COST 276,877 300,044
ISHARES GOLD TR ISHARES NEW AT COST 41,170 46,494
INVESCO EXCHANGE-TRADED FD TR AT COST 292,616 323,963
JOHCM EMERGING MARKETS OPPORTUNITIES AT COST 421,530 381,873

TY 2023 OtherExpensesSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN CONVERSION FEES 728 728   0
BAY AVENUE 3,674 3,674   0


TY 2023 OtherIncomeSchedule2
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
BAY AVENUE 2,330 2,330 2,330


TY 2023 OtherProfessionalFeesSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 72,803 72,803   0


TY 2023 TaxesSchedule
Name:
THE PENNELL FAMILY FOUNDATION
EIN:
83-4694955
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 3,500 0   0
FOREIGN TAX 2,631 2,631   0