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
DAN L DUNCAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4735
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HOUSTON, TX77210
A Employer identification number

20-0265572
B Telephone number (see instructions)

(713) 381-5200
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$828,415,100J 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 736,162 736,162  
4 Dividends and interest from securities... 15,509,405 15,509,405  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,876,056
b Gross sales price for all assets on line 6a 90,112,286
7 Capital gain net income (from Part IV, line 2)... 2,802,661
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
3,971,361 4,039,272  
12 Total. Add lines 1 through 11........ 23,092,984 23,087,500  
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)......... Click to see attachment
List of Attached Documents:
// Content
12,461 0   12,461
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
538,008 538,008   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
517,481 117,305   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
23,931 6,921   17,010
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,091,881 662,234   29,471
25 Contributions, gifts, grants paid....... 40,536,108 40,536,108
26 Total expenses and disbursements. Add lines 24 and 25 41,627,989 662,234   40,565,579
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -18,535,005
b Net investment income (if negative, enter -0-) 22,425,266
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............. 735,024 1,260,734 1,260,734
2 Savings and temporary cash investments......... 1,709,884 6,605,343 6,605,343
3 Accounts receivable right arrow985,980
Less: allowance for doubtful accounts right arrow   540,793 985,980 985,980
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) 52,146,465 Click to see attachment
List of Attached Documents:
// Content
51,304,863 		40,794,287
b Investments—corporate stock (attach schedule)....... 192,383,729 Click to see attachment
List of Attached Documents:
// Content
187,571,432 		209,463,424
c Investments—corporate bonds (attach schedule).......      
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).......... 461,706,054 Click to see attachment
List of Attached Documents:
// Content
442,958,592 		569,305,332
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) 709,221,949 690,686,944 828,415,100
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 709,221,949 690,686,944
29 Total net assets or fund balances (see instructions)..... 709,221,949 690,686,944
30 Total liabilities and net assets/fund balances (see instructions). 709,221,949 690,686,944
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
709,221,949
2
Enter amount from Part I, line 27a .....................
2
-18,535,005
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
690,686,944
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
690,686,944
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 PASSTHROUGH ST GAIN/LOSS P    
b PASSTHROUGH ST GAIN/LOSS - UBTI P    
c PASSTHROUGH LT GAIN/LOSS P    
d PASSTHROUGH LT GAIN/LOSS - UBTI P    
e BROKERAGE ACCOUNTS - ST P    
BROKERAGE ACCOUNTS - LT P    
BROKERAGE ACCOUNTS - CAPITAL GAIN DISTRIBUTIONS P    
ALTERNATIVE INVESTMENT 15 P    
ALTERNATIVE INVESTMENT 22 P    
PASSTHROUGH ST 1256 P    
PASSTHROUGH LT 1256 P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 56,080     56,080
b 21,423   21,423 0
c 11,155,815     11,155,815
d 51,972   51,972 0
e 5,179,859   6,413,181 -1,233,322
44,584,259   49,873,049 -5,288,790
283,049     283,049
26,576,455   30,000,000 -3,423,545
1,657,198   950,000 707,198
218,470     218,470
327,706     327,706
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       56,080
b       0
c       11,155,815
d       0
e       -1,233,322
      -5,288,790
      283,049
      -3,423,545
      707,198
      218,470
      327,706
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 2,802,661
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) 1 311,711
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........................... 3 311,711
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- ..... 5 311,711
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 382,253
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 215,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 597,253
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
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 10 285,542
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow285,542 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
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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 arrowTX
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
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 arrowLAURA LIANG Telephone no.right arrow (713) 381-5200

Located atright arrowDUNCAN FAMILY OFFICE1100 LOUISIANASTHOUSTONTX ZIP+4right arrow77002
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)
Yes
 
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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
Yes
 
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
 
No
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
RANDA DUNCAN WILLIAMS CHAIR/PRES/DIR
1.00 		0 0 0
PO BOX 4735
HOUSTON,TX77210
RICHARD H BACHMANN VICE CHAIRMAN/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
DANNINE GALE DUNCAN VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
MILANE DUNCAN FRANTZ VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
SCOTT D DUNCAN VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
W RANDALL FOWLER CFO/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
GREGG HAMMER CIO
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
LAURA LIANG CGO/SECRETARY
1.00 		0 0 0
PO BOX 4735
HOUSTON,TX77210
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
POLEN GROWTH INVESTMENT MANAGEMENT 258,304
1825 NW CORPORATE BLVD 300
BOCA RATON,FL33431
DODGE & COX INVESTMENT MANAGEMENT 190,327
555 CALIFORNIA STREET 40TH FLOOR
SAN FANCISCO,CA94104
LOOMIS SAYLES INVESTMENT MANAGEMENT 68,211
PO BOX 7247-6804
PHILADELPHIA,PA19170
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
256,590,536
b
Average of monthly cash balances.......................
1b
11,483,039
c
Fair market value of all other assets (see instructions)................
1c
541,353,524
d
Total (add lines 1a, b, and c).........................
1d
809,427,099
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
809,427,099
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
12,141,406
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
797,285,693
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
39,864,285
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
39,864,285
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
311,711
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
3,559
c
Add lines 2a and 2b............................
2c
315,270
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
39,549,015
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
39,549,015
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
39,549,015
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
40,565,579
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
40,565,579
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 39,549,015
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 40,536,108
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$ 40,565,579
a Applied to 2022, but not more than line 2a 40,536,108
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..... 29,471
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 .......... 		39,519,544
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).)
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

ADDI'S FAITH FOUNDATION INC

2410 RIVERWAY OAK DR
KINGWOOD,TX773452125 		N/A PC SOCIAL SERVICES 10,000

ARROW CHILD AND FAMILY MINISTRIES

2929 FM 2920 ROAD
SPRING,TX773883248 		N/A PC SOCIAL SERVICES 5,000

BAYLOR COLLEGE OF MEDICINE

ONE BAYLOR PLAZA MSBCM 160
HOUSTON,TX77030 		N/A SO I MEDICAL PROGRAMS 930,065

BAYSIDE HEALTHCARE FOUNDATION

200 HOSPITAL DRIVE
ANAHUAC,TX77514 		N/A PC MEDICAL PROGRAMS 490,485

BEL INIZIO

9801 W HEIMER RD NUM 300
HOUSTON,TX77042 		N/A PC SOCIAL SERVICES 5,000

BOYS AND GIRLS CLUBS OF GREATER HOUSTON INC

815 CROSBY ST
HOUSTON,TX770193054 		N/A PC SOCIAL SERVICES 7,500

BRAZOS EMPLOYMENT ENTERPRISES

3829 OLD COLLEGE RD
HOUSTON,TX77801 		N/A PC EDUCATIONAL SERVICES 5,000

BRENDA AND JOHN H DUNCAN RISE SCHOOL OF HOUSTON

5618 H MARK CROSSWELL JR ST
HOUSTON,TX770211079 		N/A PC EDUCATIONAL SERVICES 15,000

CAMP ARANZAZU FOUNDATION

8945 LONG POINT RD STE 200
HOUSTON,TX770553036 		N/A PC SOCIAL SERVICES 1,671,667

CAMP CHO-YEH

2200 S WASHINGTON AVE LIVINGSTON
LIVINGSTON,TX77351 		N/A PC SCHOLARSHIP FUND 10,000

CHAMBERS COUNTY CHILDREN'S MUSEUM

10955 EAGLE DRIVE
MONT BELVIEU,TX77523 		N/A PC EDUCATIONAL SERVICES 699,869

CITIZENS FOR ANIMALS OF MIDLAND ODESSA INC

PO BOX 921
PINEHURST,TX773620921 		N/A SO I ANIMAL PROTECTION AND WELFARE 5,000

COASTAL PRAIRIE CONSERVANCY

5615 KIRBY DRIVE SUITE 867
HOUSTON,TX770052458 		N/A PC WILDLIFE PRESERVATION 275,000

DISABILITY RIGHTS TEXAS

2222 W BRAKER LN
AUSTIN,TX78758 		N/A PC SOCIAL SERVICES 5,000

GALVESTON BAY FOUNDATION

1725 HIGHWAY 146
KEMAH,TX77565 		N/A PC ENVIRONMENT SERVICES 500,000

GALVESTON ISLAND HUMANE SOCIETY INC

6814 BROADWAY ST
GALVESTON,TX775548908 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

GALVESTON URBAN MINISTRIES

3727 BALL STREET
GALVESTON,TX77550 		N/A PC SOCIAL SERVICES 250,000

GOLDEN BEGINNINGS GOLDEN RETRIEVER RESCUE INC

PO BOX 940325
HOUSTON,TX770947325 		N/A PC ANIMAL PROTECTION AND WELFARE 7,500

GREATER HOUSTON COMMUNITY FOUNDATION

515 POST OAK BLVD SUITE 1000
HOUSTON,TX77027 		N/A PC EDUCATION AND SUPPORT OF THE HOUSTON COMMUNITY 20,268,054

HELPING PAWS IN CHAMBERS COUNTY

PO BOX E
ANAHUAC,TX77514 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

HEROES FOR CHILDREN

6010 W SPRING CREEK PKWY
PLANO,TX75024 		N/A PC SOCIAL SERVICES 5,000

HIS GRACE FOUNDATION

2449 SOUTH BOULEVARD SUITE 105
HOUSTON,TX77098 		N/A PC SOCIAL SERVICES 36,000

HOLOCAUST MUSEUM HOUSTON

5401 CAROLINE ST
HOUSTON,TX77004 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 54,250

HOUSTON AREA WOMEN'S CENTER

1010 WAUGH DRIVE
HOUSTON,TX77019 		N/A PC SOCIAL SERVICES 200,000

HOUSTON FOOD BANK

535 PORTWALL ST
HOUSTON,TX77029 		N/A PC SOCIAL SERVICES 400,000

HOUSTON HOSPICE

1905 HOLCOMBE BLVD
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 125,000

HOUSTON METHODIST HOSPITAL FOUNDATION

1701 SUNSET BOULEVARD
HOUSTON,TX77005 		N/A SO I MEDICAL PROGRAMS 125,000

HOUSTON MUSEUM OF NATURAL SCIENCE

5555 HERMANN PARK DR
HOUSTON,TX770301718 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 3,091,158

HOUSTON SPCA

7007 OLD KATY ROAD
HOUSTON,TX77024 		N/A PC ANIMAL PROTECTION AND WELFARE 80,000

HOUSTON WELCOMES REFUGEES

946 W 17TH ST
HOUSTON,TX770083434 		N/A PC SOCIAL SERVICES 5,000

HOUSTON ZOO INC

1513 CAMBRIDGE STREET
HOUSTON,TX77030 		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 1,919,757

JACINTO CITY DOG POUND RESCUE

21320 PLAZA CIR
CROSBY,TX775326835 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

K-9 ANGELS RESCUE

9415 WINSOME LN
HOUSTON,TX770633903 		N/A PC ANIMAL PROTECTION AND WELFARE 10,000

KIDS' MEALS

330 GARDEN OAKS
HOUSTON,TX77018 		N/A PC SOCIAL SERVICES 410,000

MD ANDERSON CANCER CENTER DEPARTMENT OF PEDIATRICS RESEARCH LABORATORY OF

1515 HOLCOMBE BLVD SUSHMITA GUPTA
DEVELOPMENT OFFICE REPRESENTATIVE
HOUSTON,TX77030 		N/A SO I MEDICAL PROGRAMS 25,000

MUSTARD SEED - A COMMUNITY CAFE

201 E SUNSET RD
HOUSTON,TX799221019 		N/A PC SOCIAL SERVICES 7,500

NATIONAL BLACK MBA ASSOCIATION HOUSTON CHAPTER INC

PO BOX 56509
HOUSTON,TX772566509 		N/A PC EDUCATIONAL SERVICES 7,500

PANOLA COLLEGE

1109 W PANOLA ST
CARTHAGE,TX75633 		N/A PC EDUCATIONAL SERVICES 590,000

PARTNERSHIP FOR THE ADVANCEMENT & IMMERSION OF REFUGEES

3300 CHIMNEY ROCK RD STE 105
HOUSTON,TX770566617 		N/A PC SOCIAL SERVICES 5,000

PEARLAND NEIGHBORHOOD CENTER

2335 N TEXAS AVE
PEARLAND,TX775814121 		N/A PC SOCIAL SERVICES 5,000

PEARLAND ROBOTICS BOOSTER CLUB

PO BOX 841507
PEARLAND,TX77584 		N/A PC EDUCATIONAL SERVICES 5,000

REMEMBER THE ALAMO FOUNDATION

300 ALAMO PLAZA
SAN ANTONIO,TX78205 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 400,000

RIVER OAKS BAPTIST SCHOOL

2300 WILLOWICK RD
HOUSTON,TX77027 		N/A PC EDUCATIONAL SERVICES 1,000,000

RIVER OAKS CHAMBER ORCHESTRA

1934 W GRAY SUITE 311
HOUSTON,TX77019 		N/A PC PERFORMING ARTS AND ARTS EDUCATION 50,000

RONALD MCDONALD HOUSE OF HOUSTON

1907 HOLCOMBE BOULEVARD
HOUSTON,TX77030 		N/A PC SOCIAL SERVICES 30,000

SAN ANTONIO AREA FOUNDATION

151 CONCORD PLAZA DRIVE SUITE 301
SAN ANTONIO,TX78216 		N/A PC EDUCATIONAL SERVICES 1,211,500

SMALL PLACES

257 N GREENWOOD ST
HOUSTON,TX77011 		N/A PC CAPITAL CAMPAIGN 50,000

SMALL STEPS NURTURING CENTER

2902 JENSEN DRIVE
HOUSTON,TX77026 		N/A PC SOCIAL SERVICES 25,000

SOUTHWESTERN UNIVERSITY

PO BOX 770
GEORGETOWN,TX78627 		N/A PC EDUCATIONAL SERVICES 200,000

SPRINGSPIRIT

8526 PITNER RD
HOUSTON,TX77080 		N/A PC EDUCATIONAL SERVICES 80,000

ST MARK LUTHERAN CHURCH

1515 HILLENDAHL BLVD
HOUSTON,TX77055 		N/A PC SOCIAL SERVICES 5,000

ST JOSEPH CATHOLIC CHURCH

1505 KANE ST
HOUSTON,TX770077711 		N/A PC SOCIAL SERVICES 5,000

TEXAS A&M FOUNDATION

401 GEORGE BUSH DRIVE
COLLEGE STATION,TX77840 		N/A PC EDUCATIONAL SERVICES 125,000

TEXAS CHRISTIAN UNIVERSITY

PO BOX 297044
FT WORTH,TX76129 		N/A PC EDUCATIONAL SERVICES 5,000

THE ROSE

12700 N FEATHERWOOD SUITE 2600
HOUSTON,TX77034 		N/A PC SOCIAL SERVICES 510,000

THE SALVATION ARMY

1500 AUSTIN ST
HOUSTON,TX77002 		N/A PC SOCIAL SERVICES 250,000

THE WOMEN'S HOME

607 WESTHEIMER ROAD
HOUSTON,TX77006 		N/A PC SOCIAL SERVICES 250,000

TRINITY UNIVERSITY

1 TRINITY PL
SAN ANTONIO,TX782124674 		N/A PC EDUCATIONAL SERVICES 20,000

UNDIES FOR EVERYONE

3610 WILLOWBEND 1000
HOUSTON,TX77054 		N/A PC SOCIAL SERVICES 150,000

UNIVERSITY OF HOUSTON

PO BOX 867 OFFICE OF GIFT PROCESSIN
AND RECORDS
HOUSTON,TX77001 		N/A PC EDUCATIONAL SERVICES 1,000,000

UNIVERSITY OF TEXAS FOUNDATION

9011 MOUNTAIN RIDGE DR SUITE 150
AUSTIN,TX78759 		N/A PC EDUCATIONAL SERVICES 200,000

UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON

700 FANIN SUITE 1200
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 2,011,303

WILLIAM MARSH RICE UNIVERSITY

6100 MAIN ST
HOUSTON,TX77251 		N/A PC EDUCATIONAL SERVICES 525,000

WONDERWORKS HOUSTON

PO BOX 667550
HOUSTON,TX772667550 		N/A PC EDUCATIONAL SERVICES 47,000

YELLOWSTONE SCHOOLS

3000 TRULLEY ST
HOUSTON,TX77004 		N/A PC EDUCATIONAL SERVICES 105,000
Total .................................right arrow 3a 40,536,108
bApproved for future payment

BAYLOR COLLEGE OF MEDICINE
ONE BAYLOR PLAZA MSBCM 160
HOUSTON,TX77030 		N/A SO I MEDICAL PROGRAMS 1,146,086

EPISCOPAL HIGH SCHOOL
4650 BISSONNET
BELLAIRE,TX77401 		N/A PC EDUCATIONAL SERVICES 5,000,000

HOUSTON HOSPICE
1905 HOLCOMBE BLVD
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 125,000

HOUSTON METHODIST HOSPITAL FOUNDATION
1701 SUNSET BOULEVARD
HOUSTON,TX77005 		N/A SO I MEDICAL PROGRAMS 125,000

HOUSTON MUSEUM OF NATURAL SCIENCE
5555 HERMANN PARK DR
HOUSTON,TX770301718 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 16,921,342

KIDS' MEALS
330 GARDEN OAKS
HOUSTON,TX77018 		N/A PC SOCIAL SERVICES 1,600,000

REMEMBER THE ALAMO FOUNDATION
300 ALAMO PLAZA
SAN ANTONIO,TX78205 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 400,000

RIVER OAKS BAPTIST SCHOOL
2300 WILLOWICK RD
HOUSTON,TX77027 		N/A PC EDUCATIONAL SERVICES 3,950,000

SMALL PLACES
257 N GREENWOOD ST
HOUSTON,TX77011 		N/A PC CAPITAL CAMPAIGN 50,000

SMALL STEPS NURTURING CENTER
2902 JENSEN DRIVE
HOUSTON,TX77026 		N/A PC SOCIAL SERVICES 450,000

TEXAS A&M FOUNDATION
401 GEORGE BUSH DRIVE
COLLEGE STATION,TX77840 		N/A PC EDUCATIONAL SERVICES 145,000

WILLIAM MARSH RICE UNIVERSITY
6100 MAIN ST
HOUSTON,TX77251 		N/A PC EDUCATIONAL SERVICES 1,500,000

YELLOWSTONE SCHOOLS
3000 TRULLEY ST
HOUSTON,TX77004 		N/A PC EDUCATIONAL SERVICES 200,000
Total ................................. right arrow 3b 31,612,428
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 ........... 		    14 736,162  
4 Dividends and interest from securities ....     14 15,509,405  
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 4,017,804  
8 Gain or (loss) from sales of assets other than
inventory ............ 		525990 73,395 18 2,802,661  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPASSTHROUGH K-1 INCOME - UBTI 		525990 -46,443      
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 26,952 23,066,032 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
23,092,984
(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 InvestmentsCorpStockSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Name of Stock End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED SECURITY 1 358,927 365,807
PUBLICLY TRADED SECURITY 2 1,822,827 1,592,974
PUBLICLY TRADED SECURITY 3 936,696 1,395,908
PUBLICLY TRADED SECURITY 4 549,734 1,645,066
PUBLICLY TRADED SECURITY 5 985,756 2,602,369
PUBLICLY TRADED SECURITY 6 1,177,813 1,288,009
PUBLICLY TRADED SECURITY 7 253,652 299,520
PUBLICLY TRADED SECURITY 8 124,852 147,085
PUBLICLY TRADED SECURITY 9 230,583 376,750
PUBLICLY TRADED SECURITY 10 211,471 248,833
PUBLICLY TRADED SECURITY 11 295,427 335,693
PUBLICLY TRADED SECURITY 12 658,079 896,446
PUBLICLY TRADED SECURITY 13 5,352,300 6,284,694
PUBLICLY TRADED SECURITY 14 15,483,707 16,099,223
PUBLICLY TRADED SECURITY 15 24,421,675 21,150,397
PUBLICLY TRADED SECURITY 16 491,463 600,889
PUBLICLY TRADED SECURITY 17 292,542 292,812
PUBLICLY TRADED SECURITY 18 254,344 329,294
PUBLICLY TRADED SECURITY 19 440,744 509,109
PUBLICLY TRADED SECURITY 21 179,089 182,451
PUBLICLY TRADED SECURITY 22 881,109 824,915
PUBLICLY TRADED SECURITY 23 337,415 355,672
PUBLICLY TRADED SECURITY 24 455,040 431,335
PUBLICLY TRADED SECURITY 25 1,015,770 1,030,590
PUBLICLY TRADED SECURITY 26 457,800 709,444
PUBLICLY TRADED SECURITY 27 434,644 560,552
PUBLICLY TRADED SECURITY 28 381,413 443,532
PUBLICLY TRADED SECURITY 29 395,042 318,122
PUBLICLY TRADED SECURITY 30 691,224 775,440
PUBLICLY TRADED SECURITY 31 285,565 350,445
PUBLICLY TRADED SECURITY 32 336,833 349,583
PUBLICLY TRADED SECURITY 33 59,483 54,474
PUBLICLY TRADED SECURITY 34 1,544,076 1,059,153
PUBLICLY TRADED SECURITY 36 1,146,205 1,437,360
PUBLICLY TRADED SECURITY 37 1,309,619 1,052,400
PUBLICLY TRADED SECURITY 38 474,585 497,785
PUBLICLY TRADED SECURITY 39 1,259,224 1,127,632
PUBLICLY TRADED SECURITY 40 192,657 230,640
PUBLICLY TRADED SECURITY 41 318,819 243,768
PUBLICLY TRADED SECURITY 42 288,254 475,887
PUBLICLY TRADED SECURITY 43 1,461,579 2,119,593
PUBLICLY TRADED SECURITY 44 487,663 449,628
PUBLICLY TRADED SECURITY 45 190,708 187,732
PUBLICLY TRADED SECURITY 46 537,810 543,816
PUBLICLY TRADED SECURITY 47 868,020 868,560
PUBLICLY TRADED SECURITY 48 466,200 418,300
PUBLICLY TRADED SECURITY 49 17,540 58,176
PUBLICLY TRADED SECURITY 51 278,971 241,941
PUBLICLY TRADED SECURITY 52 101,195 103,021
PUBLICLY TRADED SECURITY 53 464,153 72,125
PUBLICLY TRADED SECURITY 56 259,806 270,018
PUBLICLY TRADED SECURITY 57 585,264 400,810
PUBLICLY TRADED SECURITY 58 429,430 424,532
PUBLICLY TRADED SECURITY 59 77,151 73,145
PUBLICLY TRADED SECURITY 60 142,781 155,593
PUBLICLY TRADED SECURITY 61 1,162,843 1,125,717
PUBLICLY TRADED SECURITY 62 1,287,166 1,607,364
PUBLICLY TRADED SECURITY 63 942,650 780,910
PUBLICLY TRADED SECURITY 65 158,663 123,043
PUBLICLY TRADED SECURITY 66 421,441 330,821
PUBLICLY TRADED SECURITY 67 421,593 765,780
PUBLICLY TRADED SECURITY 68 141,452 448,456
PUBLICLY TRADED SECURITY 69 867,435 1,028,827
PUBLICLY TRADED SECURITY 70 179,689 186,566
PUBLICLY TRADED SECURITY 71 116,766 126,731
PUBLICLY TRADED SECURITY 72 156,840 147,739
PUBLICLY TRADED SECURITY 73 1,134,754 1,268,370
PUBLICLY TRADED SECURITY 74 902,237 2,930,076
PUBLICLY TRADED SECURITY 75 500,204 684,481
PUBLICLY TRADED SECURITY 76 310,106 269,739
PUBLICLY TRADED SECURITY 77 673,907 732,963
PUBLICLY TRADED SECURITY 78 1,239,826 982,090
PUBLICLY TRADED SECURITY 79 280,921 316,054
PUBLICLY TRADED SECURITY 80 136,173 366,235
PUBLICLY TRADED SECURITY 81 357,319 358,556
PUBLICLY TRADED SECURITY 82 320,365 354,882
PUBLICLY TRADED SECURITY 83 419,370 409,224
PUBLICLY TRADED SECURITY 84 42,094,404 46,377,093
PUBLICLY TRADED SECURITY 85 287,139 323,880
PUBLICLY TRADED SECURITY 87 421,683 332,787
PUBLICLY TRADED SECURITY 88 165,549 246,527
PUBLICLY TRADED SECURITY 89 236,341 961,315
PUBLICLY TRADED SECURITY 90 1,148,211 979,880
PUBLICLY TRADED SECURITY 91 307,567 297,493
PUBLICLY TRADED SECURITY 92 396,566 406,824
PUBLICLY TRADED SECURITY 93 367,327 434,946
PUBLICLY TRADED SECURITY 94 291,767 287,225
PUBLICLY TRADED SECURITY 95 401,186 440,692
PUBLICLY TRADED SECURITY 96 409,144 398,717
PUBLICLY TRADED SECURITY 98 455,150 532,448
PUBLICLY TRADED SECURITY 99 143,007 156,103
PUBLICLY TRADED SECURITY 100 843,827 2,008,862
PUBLICLY TRADED SECURITY 101 420,321 514,026
PUBLICLY TRADED SECURITY 102 308,945 311,521
PUBLICLY TRADED SECURITY 103 284,375 222,426
PUBLICLY TRADED SECURITY 104 1,229,266 1,322,600
PUBLICLY TRADED SECURITY 105 186,210 216,973
PUBLICLY TRADED SECURITY 106 336,023 530,940
PUBLICLY TRADED SECURITY 108 338,354 330,767
PUBLICLY TRADED SECURITY 109 981,048 1,391,348
PUBLICLY TRADED SECURITY 110 754,760 853,987
PUBLICLY TRADED SECURITY 111 2,071,824 4,028,517
PUBLICLY TRADED SECURITY 112 48,309 59,292
PUBLICLY TRADED SECURITY 113 1,268,210 2,178,301
PUBLICLY TRADED SECURITY 114 357,593 701,579
PUBLICLY TRADED SECURITY 115 201,057 208,322
PUBLICLY TRADED SECURITY 116 1,296,004 2,919,217
PUBLICLY TRADED SECURITY 117 631,662 709,140
PUBLICLY TRADED SECURITY 118 319,305 312,317
PUBLICLY TRADED SECURITY 119 791,034 860,704
PUBLICLY TRADED SECURITY 120 421,749 474,559
PUBLICLY TRADED SECURITY 121 110,659 110,475
PUBLICLY TRADED SECURITY 122 270,683 248,288
PUBLICLY TRADED SECURITY 123 172,169 187,887
PUBLICLY TRADED SECURITY 124 944,690 1,797,271
PUBLICLY TRADED SECURITY 125 186,154 148,758
PUBLICLY TRADED SECURITY 126 263,044 259,522
PUBLICLY TRADED SECURITY 127 151,158 186,130
PUBLICLY TRADED SECURITY 128 274,099 280,257
PUBLICLY TRADED SECURITY 129 200,979 223,565
PUBLICLY TRADED SECURITY 130 236,027 249,842
PUBLICLY TRADED SECURITY 132 2,031,798 1,475,191
PUBLICLY TRADED SECURITY 133 479,618 680,675
PUBLICLY TRADED SECURITY 134 514,479 423,891
PUBLICLY TRADED SECURITY 135 1,315,891 1,287,342
PUBLICLY TRADED SECURITY 136 296,249 266,976
PUBLICLY TRADED SECURITY 137 239,833 275,789
PUBLICLY TRADED SECURITY 138 2,198,505 2,064,000
PUBLICLY TRADED SECURITY 139 1,511,828 1,496,873
PUBLICLY TRADED SECURITY 140 477,598 489,631
PUBLICLY TRADED SECURITY 141 655,316 604,188
PUBLICLY TRADED SECURITY 142 286,298 336,655
PUBLICLY TRADED SECURITY 143 602,504 618,200
PUBLICLY TRADED SECURITY 144 694,092 664,560
PUBLICLY TRADED SECURITY 145 1,153,451 1,097,674
PUBLICLY TRADED SECURITY 146 457,626 609,254
PUBLICLY TRADED SECURITY 147 250,989 284,425
PUBLICLY TRADED SECURITY 148 340,302 379,647
PUBLICLY TRADED SECURITY 149 108,207 104,662
PUBLICLY TRADED SECURITY 150 186,716 339,900
PUBLICLY TRADED SECURITY 151 517,563 658,088
PUBLICLY TRADED SECURITY 152 298,082 332,729
PUBLICLY TRADED SECURITY 153 847,547 1,385,669
PUBLICLY TRADED SECURITY 154 262,164 313,166
PUBLICLY TRADED SECURITY 155 199,582 176,255
PUBLICLY TRADED SECURITY 156 327,905 363,188
PUBLICLY TRADED SECURITY 157 605,645 1,921,643
PUBLICLY TRADED SECURITY 158 201,876 206,800
PUBLICLY TRADED SECURITY 159 16,996,439 17,519,729
PUBLICLY TRADED SECURITY 160 384,287 392,500
PUBLICLY TRADED SECURITY 163 778,710 966,762
PUBLICLY TRADED SECURITY 164 1,867,305 2,027,864
PUBLICLY TRADED SECURITY 165 223,586 237,845
PUBLICLY TRADED SECURITY 166 380,666 470,205
PUBLICLY TRADED SECURITY 167 435,395 463,901
PUBLICLY TRADED SECURITY 168 171,455 154,869
PUBLICLY TRADED SECURITY 169 547,026 571,990
PUBLICLY TRADED SECURITY 170 413,871 1,073,693

TY 2023 InvestmentsGovtObligationsSch
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
US Government Securities - End of Year Book Value:

20,512,953
US Government Securities - End of Year Fair Market Value:

17,521,406
State & Local Government Securities - End of Year Book Value:


30,791,910
State & Local Government Securities - End of Year Fair Market Value:


23,272,881


TY 2023 InvestmentsOtherSchedule2
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
NON-MARKETABLE CORPORATE EQUITY SECURITY 1 AT COST 7,531,852 7,431,940
ALTERNATIVE INVESTMENT 1 AT COST 34,418,253 41,162,633
ALTERNATIVE INVESTMENT 2 AT COST 20,598,325 31,560,719
ALTERNATIVE INVESTMENT 3 AT COST 29,765,873 38,997,258
ALTERNATIVE INVESTMENT 4 AT COST 6,452,605 7,144,446
ALTERNATIVE INVESTMENT 5 AT COST 8,402,516 12,773,569
ALTERNATIVE INVESTMENT 6 AT COST 16,296,483 20,931,384
ALTERNATIVE INVESTMENT 7 AT COST 4,687,020 4,666,608
ALTERNATIVE INVESTMENT 8 AT COST 28,183,499 27,777,183
ALTERNATIVE INVESTMENT 9 AT COST 77,047 85,525
ALTERNATIVE INVESTMENT 10 AT COST 243,655 231,018
ALTERNATIVE INVESTMENT 11 AT COST 8,383,229 9,867,307
ALTERNATIVE INVESTMENT 12 AT COST 4,162,164 9,134,526
ALTERNATIVE INVESTMENT 13 AT COST 7,851,425 8,252,047
ALTERNATIVE INVESTMENT 14 AT COST 6,217,201 9,817,403
ALTERNATIVE INVESTMENT 16 AT COST 20,000,000 11,200,000
ALTERNATIVE INVESTMENT 17 AT COST 10,000,000 6,281,500
ALTERNATIVE INVESTMENT 18 AT COST 8,550,000 7,182,000
ALTERNATIVE INVESTMENT 19 AT COST 19,797,984 21,942,166
ALTERNATIVE INVESTMENT 20 AT COST 32,874,420 43,012,728
ALTERNATIVE INVESTMENT 21 AT COST 20,000,000 28,804,772
ALTERNATIVE INVESTMENT 22 AT COST 18,050,000 34,473,137
ALTERNATIVE INVESTMENT 23 AT COST 17,100,000 36,409,320
ALTERNATIVE INVESTMENT 24 AT COST 20,000,000 29,934,548
ALTERNATIVE INVESTMENT 25 AT COST 10,662,336 12,035,216
ALTERNATIVE INVESTMENT 26 AT COST 5,195,374 12,138,268
ALTERNATIVE INVESTMENT 27 AT COST 6,724,823 3,050,465
ALTERNATIVE INVESTMENT 28 AT COST 7,146,515 12,138,907
ALTERNATIVE INVESTMENT 29 AT COST 8,731,891 4,410,978
ALTERNATIVE INVESTMENT 30 AT COST 2,064,970 4,982,233
ALTERNATIVE INVESTMENT 31 AT COST 4,637,383 6,348,159
ALTERNATIVE INVESTMENT 32 AT COST 25,000,000 28,145,156
ALTERNATIVE INVESTMENT 33 AT COST 7,837,066 9,485,288
ALTERNATIVE INVESTMENT 34 AT COST 4,138,594 10,133,326
ALTERNATIVE INVESTMENT 35 AT COST 3,372,257 4,144,811
ALTERNATIVE INVESTMENT 36 AT COST 350,050 3,466,638
ALTERNATIVE INVESTMENT 37 AT COST 5,439,692 7,683,191
ALTERNATIVE INVESTMENT 38 AT COST 1,638,854 1,693,723
ANTICIPATORY RIGHT TO ASSETS FROM THE ESTATE OF DAN L. DUNCAN AT COST 375,236 375,236

TY 2023 LegalFeesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 12,461 0   12,461


TY 2023 OtherExpensesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TRUST EXPENSES - COMMON TRUST FUND 6,921 6,921   0
SOFTWARE SUBSCRIPTION 17,010 0   17,010


TY 2023 OtherIncomeSchedule2
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PASSTHROUGH K-1 INCOME 1,956,055 1,977,523 0
PFIC ORDINARY INCOME INCLUSION 1,993,384 1,993,384 0
ROYALTY INCOME 68,365 68,365 0
PASSTHROUGH K-1 INCOME - UBTI -46,443 0 -46,443


TY 2023 OtherProfessionalFeesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 538,008 538,008   0


TY 2023 TaxesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAX 117,305 117,305   0
EXCISE TAX 400,176 0   0