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
FELBURN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO PKFOD 2 BETHESDA METRO CTR 54
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BETHESDA, MD208146319
A Employer identification number

51-0234331
B Telephone number (see instructions)

(301) 608-3900
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$42,696,281J 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 90,712 90,712  
4 Dividends and interest from securities... 831,602 831,541  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,134,680
b Gross sales price for all assets on line 6a 9,747,319
7 Capital gain net income (from Part IV, line 2)... 1,134,675
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
247 246  
12 Total. Add lines 1 through 11........ 2,057,241 2,057,174  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 180,000 45,000   135,000
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
20,310 0   20,310
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
267,337 239,212   28,125
17 Interest............... 164 164   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
10,544 8,302   1,550
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 12,172 0   12,172
21 Travel, conferences, and meetings....... 338 0   338
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
28,659 11,342   17,317
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 519,524 304,020   214,812
25 Contributions, gifts, grants paid....... 2,215,833 2,215,833
26 Total expenses and disbursements. Add lines 24 and 25 2,735,357 304,020   2,430,645
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -678,116
b Net investment income (if negative, enter -0-) 1,753,154
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............. 169,161 183,569 183,569
2 Savings and temporary cash investments......... 2,382,903 2,202,759 2,202,759
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)....... 3,336,072 Click to see attachment
List of Attached Documents:
// Content
3,504,712 		7,286,012
c Investments—corporate bonds (attach schedule)....... 4,749,185 Click to see attachment
List of Attached Documents:
// Content
5,965,715 		5,922,660
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).......... 23,534,793 Click to see attachment
List of Attached Documents:
// Content
21,651,063 		25,602,059
14 Land, buildings, and equipment: basis right arrow1,501,214
Less: accumulated depreciation (attach schedule) right arrow1,992 1,499,222 Click to see attachment
List of Attached Documents:
// Content
1,499,222 		1,499,222
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
13,820 		Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 35,685,156 35,007,040 42,696,281
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........... 35,685,156 35,007,040
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........    
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)..... 35,685,156 35,007,040
30 Total liabilities and net assets/fund balances (see instructions). 35,685,156 35,007,040
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
35,685,156
2
Enter amount from Part I, line 27a .....................
2
-678,116
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
35,007,040
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
35,007,040
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 THRU SCHEDULE K-1-PETERSHILL II OFFSHORE LP P    
c CAPITAL GAINS DIVIDENDS P    
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 9,596,641   8,612,689 983,952
b       45
c 150,678     150,678
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       983,952
b       45
c       150,678
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 1,134,675
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 24,369
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 24,369
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 24,369
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 25,389
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 26,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 51,389
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 27,020
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow27,020 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 arrowFL, GA, NC, SC, VA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowPKF O'CONNOR DAVIES ADVISORY LLC Telephone no.right arrow (301) 608-3900

Located atright arrowC/O PKFOD 2 BETHESDA METRO CTR STE540BETHESDAMD ZIP+4right arrow208146319
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)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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
LARRY J WHITE DIRECTOR, PRESIDENT, CHAIRMAN
20.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
B KEMP FLOYD JR DIRECTOR, VICE PRESIDENT
10.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
GUY B MARWICK SECRETARY, TREASURER, EXEC DIR
40.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
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
NEUBERGER BERMAN INVESTMENT ADVISERS LLC INVESTMENT MANAGEMENT AND ADVISORY 102,100
1290 AVENUE OF THE AMERICAS
NEW YORK,NY101040001
PNC INSTITUTIONAL ASSET MANAGEMENT INVESTMENT MANAGEMENT AND ADVISORY 85,199
PO BOX 91309
CLEVELAND,OH441013309
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
36,828,151
b
Average of monthly cash balances.......................
1b
2,430,259
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
39,258,410
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
39,258,410
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
588,876
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
38,669,534
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,933,477
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,933,477
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
24,369
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
24,369
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,909,108
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,909,108
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
1,909,108
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
2,430,645
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
2,430,645
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,909,108
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......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022...... 28,152
f Total of lines 3a through e ........ 28,152
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 2,430,645
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..... 1,909,108
e Remaining amount distributed out of corpus 521,537
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 5 549,689
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) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		549,689
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022.... 28,152
e Excess from 2023.... 521,537
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).)
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 e-mail address of the person to whom applications should be addressed:
GUY MARWICK EXECUTIVE DIRECTOR
1515 SILVER SPRINGS BOULEVARD SUITE
102
OCALA,FL344706814
(352) 368-6686
bThe form in which applications should be submitted and information and materials they should include:
IN WRITING, WITH DESCRIPTIONS OF THE APPLICANT AND OF THE PURPOSE OR PROJECT FOR WHICH THE REQUEST IS BEING MADE, A COPY OF THE APPLICANT'S 501(C)(3) LETTER, AND A STATEMENT (IN A FORM PROVIDED BY THE FOUNDATION) THAT GRANT FUNDS WILL BE USED EXCLUSIVELY FOR TAX PERMISSIBLE CHARITABLE PURPOSES.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
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

AMERICAN ASSOCIATION OF ZOO VETERINARIANS

370 ZOO PARKWAY
JACKSONVILLE,FL32218 		N/A PC WILD ANIMAL HEALTH FUND 15,000

AMERICAN BIRD CONSERVANCY

PO BOX 249
THE PLAINS,VA20198 		N/A PC BUILDING BIRD CITIES NETWORK EXPANSION 15,000

AMERICAN CHESTNUT FOUNDATION

50 NORTH MERRIMON AVENUE SUITE 115
ASHEVILLE,NC28804 		N/A PC MEADOWVIEW RESEARCH FARMS INTERNSHIP PROGRAM 25,000

CENTRAL FLORIDA ZOOLOGICAL SOCIETY INC

PO BOX 470309
LAKE MONROE,FL32747 		N/A PC THE ORIANNE CENTER FOR INDIGO CONSERVATION'S PURCHASE OF EQUIPMENT FOR DISEASE PREVENTION IN EASTERN INDIGO SNAKES 20,000

CLEARWATER MARINE AQUARIUM INC

249 WINDWARD PASSAGE
CLEARWATER,FL33767 		N/A PC CLEARWATER MARINE AQUARIUM RESEARCH INSTITUTE RESEARCH AND CONSERVATION EFFORTS 30,000

COASTAL PLAINS INSTITUTE INC

46 KINSEY ROAD
CRAWFORDVILLE,FL32327 		N/A PC STRIPED NEWT REPATRIATION AND EDUCATION INITIATIVE 25,000

COLUMBIA LAND TRUST

850 OFFICERS ROW
VANCOUVER,WA98661 		N/A PC ANNUAL OPERATIONAL SUPPORT 100,000

COLUMBIA LAND TRUST

850 OFFICERS ROW
VANCOUVER,WA98661 		N/A PC CAPITAL CAMPAIGN SUPPORT FOR COLUMBIA RIVER GORGE LAND PROTECTION 350,000

CONSERVATION FISHERIES INC

3424 DIVISION ST
KNOXVILLE,TN37919 		N/A PC CAPITAL CAMPAIGN FUNDING 25,000

CONSERVATION FLORIDA INC

37 NORTH ORANGE AVENUE SUITE 323
ORLANDO,FL32801 		N/A PC OPERATIONAL SUPPORT 100,000

CONSERVATION FOUNDATION OF THE GULF COAST

PO BOX 902
OSPREY,FL34229 		N/A PC OPERATIONAL SUPPORT 100,000

ENDANGERED ANIMAL RESCUE SANCTUARY (EARS)

PO BOX 306
CITRA,FL32113 		N/A PC HOUSING REMOVAL/REPLACEMENT FOR FUTURE STUDENT/CARETAKER HOUSING 25,000

ENDANGERED SPECIES PROTECTION AGENCY USA FOUNDATION

561 RIVER RUN LANE
HOYTSVILLE,UT84017 		N/A PC INVESTIGATION INTO THE COMMERCIAL WHALING INDUSTRY IN THE NORWEGIAN AND BARENTS SEAS 25,000

ENDANGERED SPECIES PROTECTION AGENCY USA FOUNDATION

561 RIVER RUN LANE
HOYTSVILLE,UT84017 		N/A PC RHINO PROTECTION PARK RANGER TRAINING IN THE KINGDOM OF ESWATINI 25,000

FLAMINGO GARDENS INC

3750 SOUTH FLAMINGO ROAD
DAVIE,FL33330 		N/A PC ANIMAL HABITAT REPAIRS 15,000

FLORIDA DEFENDERS OF THE ENVIRONMENT INC

PO BOX 357086
GAINESVILLE,FL32635 		N/A PC OCKLAWAHA SYMPHONY DOCUMENTARY PROJECT 10,000

FOREST ANIMAL RESCUE

640 NE 170TH COURT
SILVER SPRINGS,FL34488 		N/A PC PROGRAM SUPPORT 30,000

FORT WHITE HIGH SCHOOL

17828 SW ST ROAD 47
FORT WHITE,FL32038 		N/A PC PARKNERSHIP PROGRAM COORDINATOR POSITION 7,000

FRIENDS OF DEVIL'S LAKE STATE PARK

PO BOX 209
BARABOO,WI53913 		N/A PC PHASE 1 (EDUCATION CENTER) OF THE CAMPAIGN FOR AMERICA'S STATE PARK 50,000

FRIENDS OF SILVER SPRINGS STATE PARK

1425 NE 58TH AVE
OCALA,FL34470 		N/A PC FLORIDA SPRINGSFEST 2024 5,000

HORSE FARMS FOREVER INC

PO BOX 5279
OCALA,FL34478 		N/A PC 2023 CONSERVATION SUMMIT 5,000

HORSE PROTECTION ASSOCIATION OF FLORIDA (HPAF)

20690 NW 130TH AVENUE
MICANOPY,FL32667 		N/A PC OPERATIONAL EXPENSES 40,000

HOWARD T ODUM FLORIDA SPRINGS INSTITUTE INC

18645 HIGH SPRINGS MAIN STREET
HIGH SPRINGS,FL32643 		N/A PC SILVER SPRINGS ECOSYSTEM HEALTH ASSESSMENT 75,000

INSIDE CLIMATE NEWS

26 COURT STREET SUITE 1617
BROOKLYN,NY11242 		N/A PC 2024 OPERATING EXPENSES FOR THE FLORIDA BUREAU 25,000

INTERNATIONAL CRANE FOUNDATION INC

PO BOX 447
BARABOO,WI53913 		N/A PC WHOOPING CRANE REINTRODUCTION, MONITORING AND PROTECTION 50,000

KEY WEST WILDLIFE CENTER INC

PO BOX 2297
KEY WEST,FL33045 		N/A PC VISITOR RECEPTION PORCH FOR NEW FACILITY 30,000

LANIER LIBRARY ASSOCIATION

72 CHESTNUT STREET
TRYON,NC28782 		N/A PC LIBRARY'S ENDOWMENT FUND 20,000

LORIS HISTORICAL SOCIETY ARCHIVES LIBRARIES AND MUSEUM INC

4242 MAIN STREET
LORIS,SC29569 		N/A PC PHASE 1 OF THE STATE THEATER RENOVATION PROJECT 50,000

MCCARTHY'S WILDLIFE SANCTUARY

12943 61ST STREET NORTH
WEST PALM BEACH,FL33412 		N/A PC ANIMAL FOOD AND SUPPLIES 10,000

NATIONAL AUDUBON SOCIETY INC

4500 BISCAYNE BOULEVARD SUITE 350
MIAMI,FL33137 		N/A PC RAPTOR REHAB CLINIC PUBLIC EDUCATION AND OUTREACH EXHIBIT AT THE CENTER FOR BIRDS OF PREY 20,000

ONE RACK AT A TIME INC

12163 PALMETTO WAY
DUNNELLON,FL34432 		N/A PC RAINBOW RIVER CLEANING AND PRESERVATION 11,733

PANTHERA CORP

8 WEST 40TH STREET 18TH FLOOR
NEW YORK,NY10018 		N/A PC TIGER POPULATION RECOVERY STRATEGIES IN TAMAN NEGARA 50,000

PELICAN HARBOR SEABIRD STATION

1279 NE 79TH STREET CAUSEWAY
MIAMI,FL33138 		N/A PC ENVIRONMENTAL EDUCATION SUPPORT 10,000

PRIMATES INCORPORATED

PO BOX 7384
MADISON,WI53707 		N/A PC NEW SANCTUARY BUILDING CONSTRUCTION 15,000

PUBLIC EDUCATION FOUNDATION OF MARION COUNTY INC

PO BOX 670
OCALA,FL34478 		N/A PC THE SCHOOL BOARD OF MARION COUNTY AND MANAGED BY THE PUBLIC EDUCATION FOUNDATION OF MARION COUNTY BIG SPRINGS STEM FAIR 19,600

PUTNAM LAND CONSERVANCY INC

PO BOX 667
INTERLACHEN,FL32148 		N/A PC OPERATIONAL FUNDING 20,000

RAINFOREST TRUST

PO BOX 841
WARRENTON,VA20188 		N/A PC CREATE A CORRIDOR FOR MEXICAN WOLVES AND JAGUARS PROJECT 35,000

REEF RELIEF INC

PO BOX 430
KEY WEST,FL33041 		N/A PC CORAL REEF CONSERVATION PROGRAM 10,000

SAVE THE CHIMPS

PO BOX 12220
FORT PIERCE,FL34979 		N/A PC BEHAVIORAL, NUTRITIONAL, AND VETERINARY SERVICES 30,000

SEA TURTLE CONSERVANCY

4581 NW 6TH STREET SUITE A
GAINESVILLE,FL32609 		N/A PC SEA TURTLE RESEARCH AND CONSERVATION PROGRAMS 15,000

SHEPHERD CENTER FOUNDATION INC

2020 PEACHTREE ROAD NW
ATLANTA,GA30309 		N/A PC RECREATION THERAPY PROGRAM 100,000

SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS TAMPA BAY

9099 130TH AVENUE NORTH
LARGO,FL33773 		N/A PC WILDLIFE REHABILITATION AND RELEASE PROGRAM 10,000

SOUTH CAROLINA RESEARCH FOUNDATION

1321 PENDLETON STREET
COLUMBIA,SC29208 		N/A PC TOPPER SITE LAB MANAGER FOR ARTIFACT ANALYSIS AND CURATION 30,000

SOUTHERN APPALACHIAN HIGHLANDS CONSERVANCY

372 MERRIMON AVENUE
ASHEVILLE,NC28801 		N/A PC TOM'S BRANCH ACQUISITION TRANSACTION COSTS 50,000

SOUTHERN CONSERVATION PARTNERS

PO BOX 33222
RALEIGH,NC27636 		N/A PC OPERATIONAL SUPPORT, VENUS FLYTRAP PRESERVATION, AND BLACK RIVER GORGE LAND PROTECTION 10,000

THE CONSERVATION FUND

7204 SE COUNTY ROAD 234
GAINESVILLE,FL32641 		N/A PC FLORIDA WILDLIFE CORRIDOR LAND CONSERVATION 100,000

THE NATURE CONSERVANCY

1035 S SERMORAN BOULEVARD SUITE
2-1021B
WINTER PARK,FL32792 		N/A PC 758 ACRES COLA RIVER LAND AND TIMBER LAND ACQUISITION 150,000

TRUMPETER SWAN SOCIETY

12615 ROCKFORD ROAD
PLYMOUTH,MN55441 		N/A PC OPERATIONAL EXPENSES AND PROGRAM SUPPORT 15,000

TUCSON WILDLIFE CENTER INC

PO BOX 18320
TUCSON,AZ85731 		N/A PC FOOD AND NUTRITION FOR WILDLIFE RECOVERY 15,000

TURTLE SURVIVAL ALLIANCE FOUNDATION

5900 CORE ROAD SUITE 504
NORTH CHARLESTON,SC29406 		N/A PC TURTLE SURVIVAL CENTER CARE FOR TURTLES AND TORTOISES 20,000

UNIVERSITY OF FLORIDA FOUNDATION INC

PO BOX 112710
GAINESVILLE,FL32611 		N/A PC FLORIDA MUSEUM OF NATURAL HISTORY - MARION COUNTY SCIENTIST IN RESIDENCE PROGRAM EXPANSION AT THE SILVER RIVER MUSEUM AND ENVIRONMENTAL EDUCATION CENTER 65,000

UNIVERSITY OF FLORIDA FOUNDATION INC

PO BOX 112710
GAINESVILLE,FL32611 		N/A PC FLORIDA MUSEUM OF NATURAL HISTORY - 1 YEAR PROJECT COORDINATOR SUPPORT, FIELD ASSISTANT SUPPORT, AND EQUIPMENT AND SUPPLIES 40,000

UNIVERSITY OF NORTH FLORIDA ENVIRONMENTAL CENTER

1 UNF DRIVE BUILDING 16 ROOM 3111
JACKSONVILLE,FL32224 		N/A PC THIRTY (30) ENVIRONMENTAL LEADERSHIP PROGRAM STUDENT SCHOLARSHIPS 52,500

WILD EARTH ALLIES

2 WISCONSIN CIRCLE SUITE 900
CHEVY CHASE,MD20815 		N/A PC NATIVE TREE RESTORATION EFFORTS 20,000
Total .................................right arrow 3a 2,215,833
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 ........... 		    14 90,712  
4 Dividends and interest from securities .... 901101 61 14 831,541  
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 22  
8 Gain or (loss) from sales of assets other than
inventory ............ 		901101 5 18 1,134,675  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aTHRU SCHEDULE K-1-OTHER PORTFOLIO INCOME (LOSS) 		901101 1 14 224  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 67 2,057,174 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,057,241
(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:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ANNUAL BOOKKEEPING AND TAX RETURN PREPARATION 20,310 0   20,310

TY 2023 InvestmentsCorpBondsSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC NOTE 3.600% 05/14/2025 (00287YAQ2) 120,000 QTY 124,114 117,827
ADOBE INC NOTE 3.250% 02/01/2025 (00724FAC5) 80,000 QTY 80,993 78,597
AMERICAN TOWER CORP NOTE 5.800% 11/15/2028 (03027XCE8) 95,000 QTY 94,837 98,688
BALL CORP NOTE 5.250% 07/01/2025 (058498AT3) 70,000 QTY 68,250 69,913
BANK AMERICA CORP SER N MTN 5.202% 04/25/2029 (06051GLG2) 60,000 QTY 60,101 60,371
BANK MONTREAL MEDIUM SER E MTN 3.300% 02/05/2024 (06367WHH9) 90,000 QTY 90,073 89,685
BANK NEW YORK MELLON CORP MTN 5.802% 10/25/2028 (06406RBL0) 115,000 QTY 115,000 119,230
CANADIAN IMPERIAL BK COMM TORO 3.945% 08/04/2025 (13607H6M9) 125,000 QTY 123,971 122,830
CANADIAN PAC RY CO NEW NOTE 1.350% 12/02/2024 (13645RBD5) 140,000 QTY 140,002 134,768
CNH INDUSTRIAL CAPITAL LLC NOTE 4.550% 04/10/2028 (12592BAQ7) 130,000 QTY 128,514 128,242
COMCAST CORP NEW NOTE 4.550% 01/15/2029 (20030NED9) 150,000 QTY 149,676 150,642
CROWN CASTLE INC NOTE 3.700% 06/15/2026 (22822VAC5) 145,000 QTY 152,648 139,922
DTE ENERGY CO SER 2019 F NOTE 4.220% 11/01/2024 (233331BD8) 125,000 QTY 125,169 123,543
DUKE ENERGY CORP NEW NOTE 5.000% 12/08/2027 (26441CBW4) 120,000 QTY 120,455 121,304
EASTMAN CHEM CO NOTE 3.800% 03/15/2025 (277432AR1) 55,000 QTY 55,574 54,035
ENBRIDGE INC NOTE 6.000% 11/15/2028 (29250NBX2) 150,000 QTY 150,317 157,623
ENTERGY LA LLC BOND 0.950% 10/01/2024 (29364WBK3) 145,000 QTY 145,006 140,273
FIDELITY NATL INFORMATION SVCS 4.700% 07/15/2027 (31620MBW5) 115,000 QTY 114,817 114,992
FISERV INC NOTE 2.750% 07/01/2024 (337738AS7) 105,000 QTY 105,817 103,429
GENERAL MILLS INC NOTE 5.500% 10/17/2028 (370334CW2) 150,000 QTY 149,199 155,460
GOLDMAN SACHS GROUP INC MTN 4.000% 03/03/2024 (38141GVM3) 90,000 QTY 90,210 89,737
GOLDMAN SACHS GROUP INC NOTE 6.050% 01/24/2025 (38141GZJ6) 140,000 QTY 140,000 139,926
HOME DEPOT INC NOTE 4.000% 09/15/2025 (437076CR1) 125,000 QTY 124,625 123,843
INTEL CORP NOTE 4.875% 02/10/2028 (458140CE8) 125,000 QTY 125,714 127,085
INTERNATIONAL BUSINESS MACHS NOTE 3.000% 05/15/2024 (459200JY8) 120,000 QTY 121,050 118,908
INTUIT NOTE 5.125% 09/15/2028 (46124HAF3) 150,000 QTY 149,693 155,026
JOHN DEERE CAP CORP SER H 4.150% 09/15/2027 (24422EWK1) 125,000 QTY 124,786 124,190
JPMORGAN CHASE & CO NOTE 6.087% 10/23/2029 (46647PDX1) 150,000 QTY 150,000 157,711
LABORATORY CORP AMER HLDGS NOTE 3.600% 02/01/2025 (50540RAQ5) 110,000 QTY 112,443 108,117
M & T BK CORP NOTE 4.553% 08/16/2028 (55261FAQ7) 125,000 QTY 125,379 120,420
MCCORMICK &CO INC NOTE 3.150% 08/15/2024 (579780AM9) 110,000 QTY 111,282 108,264
MEDTRONIC GLOBAL HLDGS S C A NOTE 4.250% 03/30/2028 (58507LBB) 145,000 QTY 144,555 144,368
MERCK &CO INC NOTE 4.050% 05/17/2028 (58933YBH7) 150,000 QTY 149,878 149,342
META PLATFORMS INC NOTE 4.600% 05/15/2028 (30303M8L9) 150,000 QTY 149,964 152,188
NEXTERA ENERGY CAP HLDGS INC 4.900% 02/28/2028 (65339KCM0) 125,000 QTY 124,741 126,180
ORACLE CORP NOTE 2.950% 11/15/2024 (68389XBS3) 145,000 QTY 147,553 141,752
PARKER-HANNIFIN CORP NOTE 3.650% 06/15/2024 (701094AQ7) 125,000 QTY 124,914 123,803
PHILLIPS 66 CO NOTE 4.950% 12/01/2027 (718547AT9) 145,000 QTY 144,664 146,218
QUEST DIAGNOSTICS INC NOTE 3.450% 06/01/2026 (74834LAZ3) 120,000 QTY 127,021 116,666
ROYAL BK CDA SER I MTN 3.970% 07/26/2024 (78016EZH3) 125,000 QTY 125,000 123,700
RYDER SYS INC MTN 5.250% 06/01/2028 (78355HKW8) 150,000 QTY 149,806 151,950
SCHLUMBERGER INVT SA NOTE 4.500% 05/15/2028 (806854AK1) 150,000 QTY 150,024 151,410
STATE STR CORP NOTE 3.300% 12/16/2024 (857477AN3) 90,000 QTY 90,854 88,544
US BANCORP MTN 5.727% 10/21/2026 (91159HJH4) 115,000 QTY 115,000 115,744
VALERO ENERGY CORP NOTE 3.400% 09/15/2026 (91913YAU4) 145,000 QTY 151,291 139,136
WALMART INC NOTE 3.900% 09/09/2025 (931142EW9) 125,000 QTY 124,912 123,758
WELLS FARGO & CO SER W MTN 6.303% 10/23/2029 (95000U3G6) 150,000 QTY 150,000 158,088
WESTPAC BANKING CORPORATION NOTE 2.850% 05/13/2026 (961214CX9) 120,000 QTY 125,823 115,212

TY 2023 InvestmentsCorpStockSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Name of Stock End of Year Book Value End of Year Fair Market Value
ADOBE INC (ADBE) 175.000 SHARES 89,117 104,405
AGILENT TECHNOLOGIES (A) 38.000 SHARES 5,033 5,283
ALPHABET INC CAP STK CL C (GOOG) 2,485.000 SHARES 116,175 350,211
AMAZON.COM (AMZN) 2,000.000 SHARES 191,545 303,880
ANSYS INC (ANSS) 9.000 SHARES 3,304 3,266
AON PLC/IRELAND-A (AON) 12.000 SHARES 3,358 3,492
APPLE INC (AAPL) 2,000.000 SHARES 50,790 385,060
ARCH CAPITAL GROUP LTD (ACGL) 73.000 SHARES 3,082 5,422
ARES MANAGEMENT CORP - A (ARES) 28.000 SHARES 2,003 3,330
ASML HOLDING NV (ASML) 550.000 SHARES 45,377 416,306
AUTODESK INC (ADSK) 27.000 SHARES 9,097 6,574
BROOKFIELD ASSET MGMT-A (BAM) 128.000 SHARES 5,382 5,142
BROOKFIELD CORP (BN) 504.000 SHARES 21,310 20,220
BROOKFIELD INFRASTRUCTURE-A (BIPC) 269.000 SHARES 10,408 9,490
BROOKFIELD RENEWABLE COR CL-A (BEPC) 175.000 SHARES 7,175 5,038
BROWN & BROWN INC (BRO) 153.000 SHARES 8,879 10,880
BROWN FORMAN CORP CLASS B (BFB) 29.000 SHARES 1,760 1,656
CARMAX INC (KMX) 113.000 SHARES 13,877 8,672
CBRE GROUP INC (CBRE) 85.000 SHARES 7,760 7,913
CDW CORP (CDW) 850.000 SHARES 94,160 193,222
CHURCH &DWIGHT CO INC (CHD) 1,800.000 SHARES 59,556 170,208
COGNEX CORP (CGNX) 23.000 SHARES 1,980 960
COPART INC (CPRT) 395.000 SHARES 13,876 19,355
COSTAR GROUP INC (CSGP) 200.000 SHARES 16,724 17,478
COSTCO WHOLESALE CORP (COST) 300.000 SHARES 34,819 198,024
DANAHER CORPORATION (DHR) 600.000 SHARES 32,000 138,804
DOMINO'S PIZZA, INC (DPZ) 20.000 SHARES 10,140 8,245
EDWARDS LIFESCIENCES CORP (EW) 2,500.000 SHARES 49,219 190,625
ELI LILLY & CO (LLY) 575.000 SHARES 179,278 335,179
ENOVIS CORP (ENOV) 11.000 SHARES 918 616
ESTEE LAUDER COMPANIES INC (EL) 500.000 SHARES 34,019 73,125
FASTENAL CO (FAST) 93.000 SHARES 5,150 6,024
FISERV INC (FI) 1,700.000 SHARES 60,629 225,828
GARTNER INC (IT) 20.000 SHARES 6,660 9,022
HEICO CORP NEW CL A (HEIA) 113.000 SHARES 13,487 16,096
HILTON WORLDWIDE HLDGS (HLT) 89.000 SHARES 11,488 16,206
HOME DEPOT INC (HD) 825.000 SHARES 182,662 285,904
HOWARD HUGHES HOLDINGS INC (HHH) 21.000 SHARES 1,908 1,797
HUMANA INC (HUM) 300.000 SHARES 146,910 137,343
HYATT HOTELS CORP CL A (H) 29.000 SHARES 2,175 3,782
IDEXX LABS INC (IDXX) 7.000 SHARES 4,700 3,885
INTUIT INC (INTU) 450.000 SHARES 42,292 281,264
JOHNSON &JOHNSON (JNJ) 700.000 SHARES 75,126 109,718
JPMORGAN CHASE & CO (JPM) 1,600.000 SHARES 116,642 272,160
KKR & CO INC (KKR) 204.000 SHARES 13,177 16,901
LENNAR CORP CLASS A (LEN) 56.000 SHARES 6,093 8,346
LENNAR CORP CLASS B (LENB) 30.000 SHARES 1,099 4,021
LIBERTY MEDIA CORP-LIB-NEW-A (FWONA) 7.000 SHARES 301 406
LIBERTY MEDIA CORP-LIB-NEW-C (FWONK) 68.000 SHARES 3,252 4,293
LIVE NATION ENTERTAINMENT INC (LYV) 90.000 SHARES 7,842 8,424
MARKEL GROUP INC (MKL) 7.000 SHARES 8,889 9,939
MARTIN MARIETTA MATLS INC (MLM) 11.000 SHARES 4,287 5,488
MASTERCARD INCORPORATED CL A (MA) 725.000 SHARES 250,103 309,220
MICROCHIP TECHNOLOGY INC (MCHP) 73.000 SHARES 5,473 6,583
MICROSOFT CORP (MSFT) 1,500.000 SHARES 229,652 564,060
MOODY'S CORP (MCO) 10.000 SHARES 3,747 3,906
MOODYS CORP (MCO) 500.000 SHARES 38,851 195,280
MOTOROLA SOLUTIONS INC (MSI) 475.000 SHARES 50,695 148,718
MSCI INC (MSCI) 9.000 SHARES 5,077 5,091
NEXTERA ENERGY INC (NEE) 2,500.000 SHARES 184,588 151,850
NIKE INC CLASS B (NKE) 1,700.000 SHARES 62,943 184,569
O REILLY AUTOMOTIVE INC (ORLY) 18.000 SHARES 11,211 17,101
PERIMETER SOLUTIONS SA (PRM) 194.000 SHARES 2,355 892
PIONEER NATURAL RESOURCES CO (PXD) 300.000 SHARES 66,341 67,464
PROGRESSIVE CORP OHIO (PGR) 40.000 SHARES 3,867 6,371
REGENERON PHARMACEUTICALS INC (REGN) 250.000 SHARES 123,569 219,572
ROPER TECHNOLOGIES INC (ROP) 25.000 SHARES 11,579 13,629
ROPER TECHNOLOGIES INC (ROP) 600.000 SHARES 94,806 327,102
ROSS STORES INC (ROST) 14.000 SHARES 1,733 1,937
SBA COMMUNICATIONS CORP (SBAC) 32.000 SHARES 10,877 8,118
SCHLUMBERGER LIMITED (SLB) 650.000 SHARES 62,407 33,826
SHERWIN-WILLIAMS CO (SHW) 7.000 SHARES 1,793 2,183
SUMMIT MATERIALS INC - CL A (SUM) 61.000 SHARES 2,089 2,346
THERMO FISHER SCIENTIFIC INC (TMO) 225.000 SHARES 113,398 119,428
TRANSDIGN GROUP INC (TDG) 20.000 SHARES 12,047 20,232
TRANSUNION (TRU) 1,875.000 SHARES 70,796 128,831
TYLER TECHNOLOGIES INC (TYL) 19.000 SHARES 9,011 7,944
UNITEDHEALTH GROUP INC (UNH) 375.000 SHARES 181,461 197,426
VAIL RESORTS INC (MTN) 20.000 SHARES 5,925 4,269
VERISIGN INC (VRSN) 32.000 SHARES 6,789 6,591
VERISK ANALYTICS INC (VRSK) 17.000 SHARES 3,414 4,060
VERTEX PHARMACEUTICALS INC (VRTX) 200.000 SHARES 25,089 81,378
VULCAN MATERIALS CO (VMC) 54.000 SHARES 10,342 12,259
WATERS CORP (WAT) 8.000 SHARES 2,135 2,634
WIX LTD (WIX) 18.000 SHARES 3,659 2,214

TY 2023 InvestmentsOtherSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ABBEY CAPITAL FUTURES STRATEGY FUND CLASS I (ABYIX) 10,875.411 SHARES AT COST 124,860 120,935
ALLSPRING CORE BOND FUND (WTRIX) 94,428.706 SHARES AT COST 1,000,000 1,056,657
ALLSPRING SPECIAL SMALL CAP VALUE FUND CL R6 (ESPRX) 10,207.062 SHARES AT COST 282,949 421,348
AQR DIVERSIFIED ARBITRAGE FUND CL R6 (QDARX) 15,439.840 SHARES AT COST 148,786 183,580
BAIRD MIDCAP FUND INSTITUTIONAL CL (BMDIX) 26,999.409 SHARES AT COST 536,646 666,616
BLACKROCK EVENT DRIVEN EQUITY FUND CL INSTL (BILPX) 21,143.397 SHARES AT COST 203,368 211,223
BLACKROCK GLOBAL EQUITY MRKT NTRAL FD CL CLASS K (BGCKX) 4,352.881 SHARES AT COST 48,707 55,107
BLACKROCK GLOBAL LONG SHRT CRED FD CL CLASS K (BDMKX) 6,639.261 SHARES AT COST 67,807 59,023
BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORT (BSIIX) 92,385.748 SHARES AT COST 903,375 871,198
BRANDYWINEGLBL GLBL UNCONSTRAIND BD FD CL IS (LROSX) 5,340.556 SHARES AT COST 64,169 61,897
CONESTOGA SMALL CAP FUND INSTL CLASS (CCALX) 5,925.418 SHARES AT COST 277,536 432,318
CREDIT SUISSE COMMODITY RETURN STRTGY FD CL I (CRSOX) 5,544.346 SHARES AT COST 137,655 122,974
DODGE & COX INCOME FUND (DODIX) 121,382.774 SHARES AT COST 1,686,391 1,531,851
EATON VANCE GLB MACRO ABSLT RTRN ADV FD CL R6 (EGRSX) 6,312.348 SHARES AT COST 62,807 63,250
FIDELITY EMG MKTS INDEX-FAI (FPADX) 84,671.540 SHARES AT COST 817,081 850,949
GOTHAM ABSOLUTE RETURN FUND INSTL CLASS (GARIX) 7,208.024 SHARES AT COST 104,998 140,340
HARDING LOEVNER INTL EQUITY PT FD INSTL CL (HLMIX) 16,266.331 SHARES AT COST 317,812 422,111
HARTFORD SCHRODERS EMERG MKTS EQUITY FD CL F (HHHFX) 46,735.059 SHARES AT COST 788,437 729,534
ISHARES 3-7 YEAR TREASURY BOND ETF (IEI) 2,785.000 SHARES AT COST 343,110 326,207
ISHARES CORE MSCI EAFE ETF (IEFA) 13,584.000 SHARES AT COST 820,754 955,634
ISHARES CORE S&P ETF (IVV) 3,273.000 SHARES AT COST 759,383 1,563,283
ISHARES CORE U.S. AGGREGATE BOND ETF (AGG) 14,253.000 SHARES AT COST 1,521,152 1,414,610
ISHARES MBS ETF (MBB) 3,469.000 SHARES AT COST 365,679 326,364
ISHARES MSCI EAFE VALUE (EFV) 10,496.000 SHARES AT COST 501,286 546,842
ISHARES MSCI USA MIN VOL FACTOR (USMV) 4,809.000 SHARES AT COST 348,388 375,246
ISHARES MSCI USA QUALITY FACTOR (QUAL) 2,851.000 SHARES AT COST 340,244 419,496
ISHARES RUSSELL MIDCAP (IWR) 9,154.000 SHARES AT COST 438,858 711,540
ISHARES S&P 500 INDEX FUND CLASS K (WFSPX) 6,404.092 SHARES AT COST 2,551,157 3,578,927
ISHARES TR RUSSELL 2000 (IWM) 2,106.000 SHARES AT COST 294,917 422,695
JOHN HANCOCK SEAPORT LONG/SHORT FUND CL R6 (JSFRX) 10,930.678 SHARES AT COST 141,711 125,156
LOOMIS SAYLES GROWTH FUND CL Y (LSGRX) 29,652.663 SHARES AT COST 402,827 688,831
MFS MID CAP VALUE FUND CL R6 (MVCKX) 22,174.852 SHARES AT COST 495,625 682,764
MFS VALUE FD CL R6 (MEIKX) 13,483.296 SHARES AT COST 483,943 636,816
NEUBERGER BERMAN HIGH INCOME BOND FUND CL INST (NHILX) 16,209.808 SHARES AT COST 135,290 122,708
NEUBERGER BERMAN LONG SHORT FUND INSTL CL (NLSIX) 11,112.237 SHARES AT COST 160,631 193,909
OAKMARK INTL FD CL R6 (OAZIX) 15,662.928 SHARES AT COST 314,332 419,453
PETERSHILL II OFFSHORE LP AT COST 366,569 375,721
PIMCO DYNAMIC BOND FUND INSTL CLASS (PFIUX) 6,239.589 SHARES AT COST 66,772 60,960
PIMCO INCOME FUND CLASS INS (PIMIX) 33,524.904 SHARES AT COST 350,000 356,034
TRIBUTARY SMALL COMPANY FD INST (FOSBX) 14,579.153 SHARES AT COST 412,745 434,168
VANGAURD FTSE DEVELOPED MARKETS ETF (VEA) 18,100.000 SHARES AT COST 722,023 866,990
VANGAURD FTSE EMERGING MARKETS ETF (VWO) 4,800.000 SHARES AT COST 184,128 197,280
VANGUARD MID CAP INDX #5859 (VIMAX) 1,187.784 SHARES AT COST 335,040 342,166
VANGUARD SCOTTSDALE FDS VANGUARD INTERME (VCIT) 6,191.000 SHARES AT COST 532,209 503,204
WCM FOCUSED INTL GROWTH-INS (WCMIX) 23,126.054 SHARES AT COST 407,085 526,350
WISDOMTREE U.S. QUALITY DIVI (DGRW) 6,087.000 SHARES AT COST 281,821 427,794

TY 2023 LandEtcSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
LAND-KINGSTON SALTPETER CAVE - BARTOW CO, GA - 39.991 ACRES, 12/15/1983 50,998 0 50,998 50,998
LAND-ESTATOE FALLS - PICKENS CO, SC - 25.86 ACRES, 12/15/1984 100,000 0 100,000 100,000
LAND-CAVE AND SPRING PROPERTY - LYON CO, KY - 4.35 ACRES, 10/15/1986 51,790 0 51,790 51,790
LAND-TRULL FALLS PROPERTY - CHEROKEE CO, NC - 6.96 ACRES, 11/15/1988 22,334 0 22,334 22,334
LAND-SAUNDERS PROPERTY, MITCHELL CO, NC - 35.58 ACRES, 03/15/1989 85,000 0 85,000 85,000
LAND-LYNCH PROPERTY - LEVY CO, FL - 10 PARCELS, 05/28/2003 372,600 0 372,600 372,600
LAND-MEYER'S TRACT - CITRUS CO, FL - 135.42 ACRES, 04/24/2001 765,919 0 765,919 765,919
LAND-SAUNDERS PROPERTY ADJACENT, MITCHELL CO, NC - 13 ACRES, 02/13/2014 50,581 0 50,581 50,581
OFFICE FURNITURE, 03/31/2009 1,992 1,992 0  


TY 2023 OtherAssetsSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DIVIDEND RECEIVABLE 13,820    


TY 2023 OtherExpensesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 155 0   155
FILING FEES 743 0   743
INSURANCE 11,487 0   11,487
OFFICE AND OTHER EXPENSES 1,932 0   1,932
PROPERTY CUSTODIAL SERVICES 3,000 0   3,000
OTHER INVESTMENT EXPENSES 11,342 11,342   0


TY 2023 OtherIncomeSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
SECURITIES LITIGATION PROCEEDS 22 22 22
THRU SCHEDULE K-1-OTHER PORTFOLIO INCOME (LOSS) 225 224 225


TY 2023 OtherProfessionalFeesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT AND ADVISORY 229,837 229,837   0
OFFICE MANAGER 37,500 9,375   28,125


TY 2023 TaxesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL UNRELATED BUSINESS INCOME TAX 692 0   0
FOREIGN TAXES WITHHELD 8,302 8,302   0
PROPERTY TAXES ON REAL ESTATE - CHARITABLE-USE ASSETS 1,550 0   1,550