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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
WILLIAM M HALES FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)408 GREEN BAY ROAD P O BOX 63
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
KENILWORTH, IL60043
A Employer identification number

36-3735095
B Telephone number (see instructions)

(312) 630-6000
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$7,864,759J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 181,904 181,904  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 233,211
b Gross sales price for all assets on line 6a 431,638
7 Capital gain net income (from Part IV, line 2)... 233,211
8 Net short-term capital gain......... 0
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
271 271  
12 Total. Add lines 1 through 11........ 415,386 415,386  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0    
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,500 1,250 0 1,250
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
38,618 23,563   15,055
17 Interest............... 242 242   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
13,671 4,673   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
37 12   25
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 55,068 29,740 0 16,330
25 Contributions, gifts, grants paid....... 353,000 353,000
26 Total expenses and disbursements. Add lines 24 and 25 408,068 29,740 0 369,330
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 7,318
b Net investment income (if negative, enter -0-) 385,646
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
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.............   59,105 59,105
2 Savings and temporary cash investments......... 202,452    
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
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 arrow0      
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)....... 3,212,667 Click to see attachment
List of Attached Documents:
// Content
3,373,468 		6,739,495
c Investments—corporate bonds (attach schedule)....... 940,471 Click to see attachment
List of Attached Documents:
// Content
940,471 		915,331
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).......... 140,446 Click to see attachment
List of Attached Documents:
// Content
140,446 		150,828
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) 4,496,036 4,513,490 7,864,759
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
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........ 4,496,036 4,513,490
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)..... 4,496,036 4,513,490
30 Total liabilities and net assets/fund balances (see instructions). 4,496,036 4,513,490
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
4,496,036
2
Enter amount from Part I, line 27a .....................
2
7,318
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
12,627
4
Add lines 1, 2, and 3 ..........................
4
4,515,981
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
2,491
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
4,513,490
Form 990-PF (2024)
Form 990-PF (2024)
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 250. ALPHABET INC CAP STK USD0.001 CL C   2014-10-22 2024-05-06
b 80. ALPHABET INC CAPITAL STOCK USD0.001 CL A   2011-02-28 2024-05-06
c 250. APPLE COMPUTER INC   2006-07-17 2024-12-02
d 584. ADR ASTRAZENECA PLC SPONSORED ADR UNITEDKINGDOM   2021-07-21 2024-05-06
e 1957. MFO DFA INVESTMENT DIMENSIONS GROUP INC US SMALL CAP   2022-12-12 2024-05-06
50. HOME DEPOT INC   2012-01-23 2024-05-06
250. J P MORGAN CHASE & CO   2014-07-17 2024-12-02
33. LAUDER ESTEE COS INC CL A   2017-04-17 2024-05-06
350. LAUDER ESTEE COS INC CL A   2017-04-17 2024-12-02
40. MONDELEZ INTL INC COM   2014-10-30 2024-05-06
70. MFC SPDR S&P MIDCAP 400 ETF TR UNIT SER 1 STANDARD & POORS DEP RCP   2013-12-19 2024-05-06
510. SCHLUMBERGER LTD ISIN #AN8068571086   2014-12-19 2024-12-02
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS P    
CAPITAL GAIN DIVIDENDS 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 42,076   6,670 35,406
b 13,320   1,227 12,093
c 59,937   473 59,464
d 44,172   30,503 13,669
e 89,004   63,295 25,709
17,067   2,225 14,842
61,501   11,117 50,384
4,314   2,813 1,501
25,244   29,808 -4,564
2,772   1,380 1,392
37,923   16,653 21,270
22,036   32,263 -10,227
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
      12,272
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       35,406
b       12,093
c       59,464
d       13,669
e       25,709
      14,842
      50,384
      1,501
      -4,564
      1,392
      21,270
      -10,227
       
       
       
       
       
       
       
       
       
       
       
       
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 2 233,211
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 5,360
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 5,360
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 5,360
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 7,752
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,752
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 2,392
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow2,392 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowIL
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? 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 arrowTHE NORTHERN TRUST COMPANY Telephone no.right arrow (312) 630-6000

Located atright arrowPO BOX 803878CHICAGOIL ZIP+4right arrow60680
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 2024, 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 (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
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 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 2024 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 2024.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
CATHERINE L HALES PRESIDENT
1 		0    
120 W MADISON STREET SUITE 700-E
CHICAGO,IL60602
ERIK W HALES VICE PRESIDENT
1 		0    
120 W MADISON STREET SUITE 700-E
CHICAGO,IL60602
REBECCA FARRELL SECRETARY
1 		0    
120 W MADISON STREET SUITE 700-E
CHICAGO,IL60602
CLARA HALES TREASURER
1 		0    
120 W MADISON STREET SUITE 700-E
CHICAGO,IL60602
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 (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2024)
Form 990-PF (2024)
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
7,870,989
b
Average of monthly cash balances.......................
1b
0
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
7,870,989
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
7,870,989
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
118,065
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
7,752,924
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
387,646
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
387,646
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
5,360
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
5,360
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
382,286
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
382,286
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
382,286
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
369,330
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
369,330
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 382,286
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 351,589
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 0
b From 2020...... 0
c From 2021...... 0
d From 2022...... 0
e From 2023...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 369,330
a Applied to 2023, but not more than line 2a 351,589
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 2024 distributable amount..... 17,741
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 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 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		364,545
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 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020.... 0
b Excess from 2021.... 0
c Excess from 2022.... 0
d Excess from 2023.... 0
e Excess from 2024.... 0
Form 990-PF (2024)
Form 990-PF (2024)
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 2024, 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
Form 990-PF (2024)
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

WTTW CHANNEL 11

5400 N SAINT LOUIS AVE
Chicago,IL60625 		NONE PC GENERAL SUPPORT 5,000

ST JUDE'S CHILDREN'S RESEARCH HOSPITAL

262 DANNY THOMAS PLACE
MEMPHIS,TN38105 		NONE PC GENERAL SUPPORT 5,000

BIG CITY MOUNTAINEERS

5394 MARSHALL ST
ARVADA,CO80002 		NONE PC GENERAL SUPPORT 10,000

COUNSELING CENTER OF THE NORTH SHORE

992 1/2 GREEN BAY RD
WINNETKA,IL60093 		NONE PC GENERAL SUPPORT 2,000

GREATER CHICAGO FOOD DEPOSITORY

4100 W ANN LURIE PL
CHICAGO,IL60632 		NONE PC GENERAL SUPPORT 20,000

LIVING LANDS AND WATERS

17624 RTE 84 N
EAST MOLINE,IL61244 		NONE PC GENERAL SUPPORT 15,000

ONE SPIRIT

1801 CHARLES ST
ROCKFORD,IL61104 		NONE PC GENERAL SUPPORT 10,000

SIERRA CLUB FOUNDATION

2101 WEBSTER ST
OAKLAND,CA94612 		NONE PC GENERAL SUPPORT 10,000

CENTER OF HOPE

395 N SCHUYLER AVE
KANKAKEE,IL60901 		NONE PC GENERAL SUPPORT 12,000

WELLNESS CENTER

C/O PO BOX 803878
CHICAGO,IL60680 		NONE PC GENERAL SUPPORT 10,000

OGLALA LAKOTA COLLEGE

PO BOX 537 PIYA WICONI RD
KYLE,SD57752 		NONE PC GENERAL SUPPORT 20,000

NORTHSHORE UNIVERSITY HEALTH SYSTEM FOUN

1301 CENTRAL STREET
EVANSTON,IL60201 		NONE PC GENERAL SUPPORT 2,000

COMMUNITY RENEWAL SOCIETY

111 W JACKSON BLVD
CHICAGO,IL606044128 		NONE PC GENERAL SUPPORT 10,000

CHICAGO SYMPHONY ORCHESTRA

220 SOUTH MICHIGAN AVE
CHICAGO,IL606042559 		NONE PC GENERAL SUPPORT 10,000

UNION LEAGUE BOYS & GIRLS CLUB

65 WEST JACKSON
CHICAGO,IL60604 		NONE PC GENERAL SUPPORT 10,000

MERCY HOME FOR BOYS & GIRLS

1140 WEST JACKSON
CHICAGO,IL60610 		NONE PC GENERAL SUPPORT 10,000

HADLEY SCHOOL FOR THE BLIND

PO BOX 299
WINNETKA,IL60093 		NONE PC GENERAL SUPPORT 10,000

JOSSELYN CENTER

405 CENTRAL STREET
NORTHFIELD,IL60093 		NONE PC GENERAL SUPPORT 3,000

CHICAGO HORTICULTURAL SOCIETY

1000 LAKE COOK ROAD
GLENCOE,IL60022 		NONE PC GENERAL SUPPORT 10,000

NORTHSHORE SENIOR CENTER

161 NORTHFIELD RD
NORTHFIELD,IL60093 		NONE PC GENERAL SUPPORT 2,000

GOOD NEWS PARTNERS

1600 W JONQUIL
CHICAGO,IL60626 		NONE PC GENERAL SUPPORT 10,000

ADLER PLANETARIUM

1300 SOUTH LAKE SHORE DRIVE
CHICAGO,IL606052403 		NONE PC GENERAL SUPPORT 2,000

BELOIT COLLEGE

700 COLLEGE STREET
BELOIT,WI54511 		NONE PC GENERAL SUPPORT 25,000

CLEARWATER CAMP FOUNDATION

PO BOX 152
MINOCQUA,WI545480152 		NONE PC GENERAL SUPPORT 130,000
Total .................................right arrow 3a 353,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 181,904  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 233,211  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aMFO DFA INVESTMENT 		    14 18  
bMFO DOUBLELINE FUN     14 24  
cMFO NEUBERGER BERM     14 229  
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   415,386  
13Total. Add line 12, columns (b), (d), and (e)..................
13
415,386
(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 (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 2,500 1,250   1,250

TY 2024 InvestmentsCorpBondsSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Name of Bond End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE    
C258620301 MFO DOUBLELINE FUND 162,320 156,170
C665162699 MFB NORTHERN HIGH Y 326,659 300,193
C665162806 MFB NORTHERN FUNDS 345,487 353,120
C33939L506 MFC FLEXSHARES TR T 106,005 105,848

TY 2024 InvestmentsCorpStockSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Name of Stock End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE    
C002824100 ABBOTT LAB COM 33,342 92,863
C020002101 ALLSTATE CORP COM 33,668 96,395
C02079K107 ALPHABET INC CAP ST 29,350 285,660
C02079K305 ALPHABET INC CAPITA 12,270 151,440
C037833100 APPLE INC COM STK 3,314 438,235
C075887109 BECTON DICKINSON & 59,132 56,718
C097023105 BOEING CO COM 45,439 44,250
C110122108 BRISTOL MYERS SQUIB 73,730 84,840
C126650100 CVS HEALTH CORP COM 41,920 32,276
C149123101 CATERPILLAR INC COM 59,699 63,483
C166764100 CHEVRON CORP COM 27,733 38,962
C191216100 COCA COLA CO COM 39,987 56,594
C22160K105 COSTCO WHOLESALE CO 10,733 131,943
C254687106 WALT DISNEY CO 12,421 51,666
C26441C204 DUKE ENERGY CORP NE 15,025 22,518
C26875P101 EOG RESOURCES INC C 26,061 41,187
C30231G102 EXXON MOBIL CORP CO 52,428 74,654
C375558103 GILEAD SCIENCES INC 34,791 46,185
C384802104 GRAINGER W W INC CO 31,073 143,351
C437076102 HOME DEPOT INC COM 11,125 97,248
C458140100 INTEL CORP COM 36,493 20,551
C45866F104 INTERCONTINENTAL EX 33,322 154,970
C46625H100 JPMORGAN CHASE & CO 30,113 179,783
C574599106 MASCO CORP COM 31,902 84,979
C580135101 MC DONALDS CORP COM 23,098 79,140
C609207105 MONDELEZ INTL INC C 32,300 59,730
C617446448 MORGAN STANLEY COM 19,262 70,026
C65339F101 NEXTERA ENERGY INC 60,260 60,937
C654106103 NIKE INC CL B 30,325 68,103
C655844108 NORFOLK SOUTHN CORP 18,361 63,838
C670346105 NUCOR CORP COM 20,673 54,620
C68389X105 ORACLE CORP COM 47,308 222,464
C697435105 PALO ALTO NETWORKS 22,963 221,627
C747525103 QUALCOMM INC COM 32,015 96,166
C79466L302 SALESFORCE INC COM 24,214 141,422
C808513105 SCHWAB CHARLES CORP 18,928 56,248
C855244109 STARBUCKS CORP COM 18,314 67,799
C98956P102 ZIMMER BIOMET HLDGS 60,063 52,815
C00143W859 MFO INVESCO DEVELOP 339,738 345,709
C233203843 MFO DFA INVESTMENT 161,275 338,191
C33939L407 MFC FLEXSHARES TR M 226,201 243,467
C552966806 MFO MFS INSTL INTL 419,555 549,186
C641224811 MFO NEUBERGER BERMA 684,812 893,266
C665162384 MFB NORTHERN MULTI 167,104 173,446
C78467Y107 SPDR S&P MIDCAP 400 136,075 325,800
C03027X100 AMERICAN TOWER CORP 25,553 64,744

TY 2024 InvestmentsOtherSchedule2
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
C665162541 MFB NORTHERN FDS GL AT COST 140,446 150,828

TY 2024 OtherDecreasesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Description Amount
CHECK WRITTEN IN 2023 CLEARED IN 2024 426
2024 TRANSACTIONS POSTED IN 2025 2,035
ADJUSTMENT TO INCOME 30


TY 2024 OtherExpensesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
STATE FILING FEES 25 0   25
ADR FEES 12 12   0


TY 2024 OtherIncomeSchedule2
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MFO DFA INVESTMENT DIMENSIONS GROUP INC 18 18  
MFO DOUBLELINE FUNDS TRUST CORE FIXED IN 24 24  
MFO NEUBERGER BERMAN EQUITY FDS INTL INS 229 229  


TY 2024 OtherIncreasesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Description Amount
ROUNDING ADJUSTMENT 10
2023 TRANSACTIONS POSTED IN 2024 2,617
CHECK WRITTEN IN 2024 CLEARED IN 2025 10,000


TY 2024 OtherProfessionalFeesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
NT ADVISORY FEES 20,074 5,019   15,055
NT INVESTMENT MANAGEMENT FEES 18,544 18,544    


TY 2024 TaxesSchedule
Name:
WILLIAM M HALES FOUNDATION
EIN:
36-3735095
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAX PAYMENT - PRIOR YE 1,250 0   0
ESTIMATED TAX PAYMENTS 7,748 0   0
FOREIGN TAXES ON QUALIFIED FOR 3,849 3,849   0
FOREIGN TAXES ON NONQUALIFIED 824 824   0