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
Boone Family Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)P O Box 1789
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Addison, TX75001
A Employer identification number

26-1407294
B Telephone number (see instructions)

(512) 657-8631
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$9,852,322J 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 18,152 18,152  
4 Dividends and interest from securities... 504,546 504,546  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 187,589
b Gross sales price for all assets on line 6a 12,891,036
7 Capital gain net income (from Part IV, line 2)... 187,589
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
-27,568 -25,874  
12 Total. Add lines 1 through 11........ 682,719 684,413  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 261,000     261,000
14 Other employee salaries and wages...... 16,000 8,000   8,000
15 Pension plans, employee benefits....... 83,612 1,178   82,434
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
15,263     15,263
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
17,100 12,825   4,275
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
44,247 44,247    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
628 628    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 3,769     3,769
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments
List of Attached Documents:
// Content
33,081 2,487   30,594
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 474,700 69,365   405,335
25 Contributions, gifts, grants paid....... 5,325,666 5,325,666
26 Total expenses and disbursements. Add lines 24 and 25 5,800,366 69,365   5,731,001
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -5,117,647
b Net investment income (if negative, enter -0-) 615,048
c Adjusted net income (if negative, enter -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.............      
2 Savings and temporary cash investments......... 593,337 768,212 768,212
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 2,995,986 Click to see attachment
List of Attached Documents:
// Content
899,665 		902,075
b Investments—corporate stock (attach schedule)....... 2,609,888 Click to see attachment
List of Attached Documents:
// Content
2,302,499 		3,263,461
c Investments—corporate bonds (attach schedule)....... 4,044,934 Click to see attachment
List of Attached Documents:
// Content
1,841,128 		1,844,014
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).......... 2,425,722 Click to see attachment
List of Attached Documents:
// Content
1,747,071 		2,822,588
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
258,327 		Click to see attachment
List of Attached Documents:
// Content
251,972 		Click to see attachment
List of Attached Documents:
// Content
251,972
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 12,928,194 7,810,547 9,852,322
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 12,928,194 7,810,547
29 Total net assets or fund balances (see instructions)..... 12,928,194 7,810,547
30 Total liabilities and net assets/fund balances (see instructions). 12,928,194 7,810,547
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
12,928,194
2
Enter amount from Part I, line 27a .....................
2
-5,117,647
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
7,810,547
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
7,810,547
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 publicly traded securities P 2001-01-01 2024-12-31
b K-1 pass-through capital gains (losses) P 2001-01-01 2024-12-31
c Carlyle Asia Partners III PI Offshore P 2009-03-31 2024-12-31
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 12,891,036   12,433,925 457,111
b     100,442 -100,442
c     169,080 -169,080
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       457,111
b       -100,442
c       -169,080
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 187,589
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 8,549
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  
3 Add lines 1 and 2........................... 3 8,549
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 8,549
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 41,272
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 41,272
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 32,723
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow32,723 Refundedright arrow 11  
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
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
Yes
 
If "Yes," attach the statement required by General Instruction T.Click to see attachment
List of Attached Documents:
// Content
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 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 arrowwww.theboonefamilyfoundation.org
14
The books are in care ofright arrowAimee Cunningham Telephone no.right arrow (512) 657-8631

Located atright arrowP O Box 1789AddisonTX ZIP+4right arrow75001
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 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
Garrett Boone Dir./Chairman
4.00 		0    
P O Box 1789
Addison,TX75001
Cecilia Boone Director
2.00 		0    
P O Box 1789
Addison,TX75001
Daniel Guthrie Boone Director
1.00 		0    
P O Box 1789
Addison,TX75001
Jane Alexandra Boone Dir/Treas/Sec
1.00 		0    
P O Box 1789
Addison,TX75001
Katherine N Boone Dir./Vice Chair
1.00 		0    
P O Box 1789
Addison,TX75001
Aimee Boone Cunningham President & CEO
40.00 		261,000 68,006  
P O Box 1789
Addison,TX75001
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  
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 arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (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
8,448,263
b
Average of monthly cash balances.......................
1b
899,966
c
Fair market value of all other assets (see instructions)................
1c
2,903,440
d
Total (add lines 1a, b, and c).........................
1d
12,251,669
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
 
3
Subtract line 2 from line 1d.........................
3
12,251,669
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
183,775
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
12,067,894
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
603,395
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
603,395
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
8,549
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
8,549
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
594,846
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
594,846
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
594,846
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
5,731,001
b
Program-related investments—total from Part VIII-B..................
1b
 
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
5,731,001
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 7 594,846
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 4,144,610
b From 2020...... 2,827,311
c From 2021...... 4,565,026
d From 2022...... 7,446,639
e From 2023...... 5,676,400
f Total of lines 3a through e ........ 24,659,986
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 5,731,001
a Applied to 2023, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 594,846
e Remaining amount distributed out of corpus 5,136,155
5 Excess distributions carryover applied to 2024.    
(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 29,796,141
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		4,144,610
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		25,651,531
10 Analysis of line 9:
a Excess from 2020.... 2,827,311
b Excess from 2021.... 4,565,026
c Excess from 2022.... 7,446,639
d Excess from 2023.... 5,676,400
e Excess from 2024.... 5,136,155
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).)
Garrett Boone
Cecilia Boone
Daniel Guthrie Boone
Katherine N Boone
Aimee Boone Cunningham
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
Abide Women's Health Services


2612 MLK Jr Blvd
Dallas,TX75215 		N/A PC Operating support for Abide's midwifery and maternal support programming 166,666
ACLU Foundation Inc


125 Broad Street 18th Floor
New York,NY10004 		N/A PC Operating support for the ACLU's mission to protect democracy and civil rights in the United States 250,000
Aspen Prep Academy


5859 South University Blvd
Greenwood Village,CO80121 		N/A PC Platinum Scholarship Fund for low income students at Aspen Prep Academy, a private secular school serving preK to 8th grade students 20,000
Big Thought


1409 Botham Jean Blvd Ste 1015
Dallas,TX75215 		N/A PC Operating support for Big Thought's work to provide high quality out of school time programming by sparking students' creativity 100,000
Center for Reproductive Rights Inc


199 Water Street 22nd Floor
New York,NY10038 		N/A PC Operating support for litigation and policy efforts to protect and expand reproductive rights in the United States 250,000
Child Poverty Action Lab


1808 S Good Latimer Expy Ste 102
Dallas,TX75226 		N/A PC Operating support for comprehensive programming to reduce child poverty, increase secure housing, and improve neighborhood safety in Dallas County 75,000
Commit


3000 Pegasus Park Dr Ste 900
Dallas,TX75247 		N/A PC Operating support for The Commit Partnership's mission to reduce child poverty and improve educational outcomes for every child in Dallas County 100,000
Commit


3000 Pegasus Park Dr Ste 900
Dallas,TX75247 		N/A PC Operating support for a fund to reduce childhood poverty by 50% and increase living wage attainment by 50% in Dallas by 2040 250,000
Dallas Afterschool


3900 Willow Street 110
Dallas,TX75226 		N/A PC Operating support for programming to train and equip out of school time providers to operate high quality programming for low income children in Dallas 75,000
DC Prep


2330 Pomeroy Rd SE
Washington,DC20020 		N/A PC Operating support for DC Prep, a charter school in Washington, DC 75,000
Delighted to Doula Birth Services


P O Box 1533
Prosper,TX75078 		N/A PC Operating support to provide postpartum doula support to Black women in South Dallas 50,000
Education is Freedom Foundation


3000 Pegasus Park Dr Ste 704
Dallas,TX75247 		N/A PC Operating support for a program supporting 8th grade students and their families in planning for post high school education and vocational training 75,000
For Oak Cliff


4478 S Marsalis Ave
Dallas,TX75216 		N/A PC Operating support for a community center and programming for people living in South Dallas 100,000
Greenspace Dallas


111 S Nursery Rd
Irving,TX75060 		N/A PC Operating support to develop and maintain trails and parks in North Texas 150,000
Greenspace Dallas


111 S Nursery Rd
Irving,TX75060 		N/A PC Purchase of a small truck and dump trailer for Trinity River watershed restoration 50,000
Honored Foundation


1645 31st Street NW
Washington,DC20007 		N/A PC Operating support for Honored's mission to recognize and provide support to excellent teachers across the country 250,000
Hopewell Fund


1828 L Street NW
Washington,DC20036 		N/A PC Operating funds for Charley Chatbot, a bot providing abortion seekers with information on how to seek care 200,000
Hopewell Fund


1828 L Street NW
Washington,DC20036 		N/A PC Operating funds for Charley Chatbot, a bot providing abortion seekers with information on how to seek care 50,000
Hostage US Inc


8001 Forbes Place Suite 211 202
Springfield,VA22151 		N/A PC Operating support to provide support to U.S. citizens being detained unlawfully overseas and their families 5,000
Meadows Mental Health Policy Instit


3003 Swiss Avenue
Dallass,TX75204 		N/A PC Operating support to create systems change to improve mental health outcomes for children K-12 and for those exiting the foster care system in Texas 100,000
Media Matters for America


P O Box 52155
Washington,DC20091 		N/A PC General operating support for Media Matters's work to combat mis and disinformation in the United States 100,000
Parkland Foundation


1341 W Mockingbird Ln Suite 110E
Dallas,TX75247 		N/A PC Operating funds for Parkland Hospital to provide contraceptive care, particularly long acting reversible contraception, for low income residents of Dallas County 100,000
Planned Parenthood Advocates of Tex


P O Box 41646
Austin,TX78704 		N/A PC Operating support for advocacy and organizing to protect and expand reproductive rights, health, and access in Texas 200,000
Planned Parenthood Federation of Am


123 Wiliam Street
New York,NY10038 		N/A PC Support for a national program to offer EPIC electronic health records to Planned Parenthood affiliates 250,000
Rappahannock Pantry


P O Box 55
Sperryville,VA22740 		N/A PC Operating support to provide access to high quality food for residents of Rappahannock, Virginia 5,000
Sidwell Friends School


3825 Wisconsin Ave NW
Washington,DC20016 		N/A PC Scholarship support for low income students attending Sidwell Friend's School,a private school serving children in grades K-12 50,000
Texas Appleseed


1609 Shoal Creek Ste 201
Austin,TX78701 		N/A PC Operating support for programming to increase social, economic, and racial justice through policy change 50,000
The 19th News


1201 Barbara Jordan Blvd Ste 700
Austin,TX78723 		N/A PC Operating support for a non-profit newsroom focused on the intersection of gender and policy 100,000
The Cobalt Foundation


P O Box 22485
Denver,CO80222 		N/A PC Operating support for an abortion fund providing resources to patients seeking abortion care in Colorado 35,000
The Film Collaborative Inc


3405 Cazador Street
Los Angeles,CA90065 		N/A PC Support for production costs for the documentary "Texas v. Zurwaski" 50,000
The Growhaus


3840 York Street Ste 245
Denver,CO80205 		N/A PC Operating support for an organization working to increase food security and well being for low income families in Denver 25,000
The PENFaulkner Foundation


6218 Georgia Ave NW Unit 1062
Washington,DC20011 		N/A PC Operating support to the PEN/Faulkner Foundation's mission of promoting fiction as a way of promoting empathy and civil discourse 40,000
The Trust for Public Land


P O Box 889336
Los Angeles,CA90088 		N/A PC Operating support for development and construction of Five Mile Creek's system of parks and trails 1,000,000
Trinity Park Conservancy


1444 Oak Lawn Avenue Suite 200
Dallas,TX75207 		N/A PC Operating support for the development and construction of Harold Simmons Park 250,000
United to Learn


3000 Pegasus Park Dr Ste 940
Dallas,TX75247 		N/A PC Operating support to improve teacher trainings and student outcomes in low income elementary schools in Dallas County 75,000
United Way of Metropolitan Dallas


1800 N Lamar
Dallas,TX75202 		N/A PC Operating support for Once Upon a Month, which provides children in Dallas County with one book every month from birth to 5 years old 434,000
Viola's House


1828 South Blvd
Dallas,TX75215 		N/A PC Operating support for maternity home and parenting support organization for low income and unhoused teens and adults who are parenting in Dallas County 150,000
Warren Village Inc


1323 Gilpin Street
Denver,CO80218 		N/A PC Operating support for Warren Village, a comprehensive housing and support organization for housing insecure families and children in Denver 20,000
Total .................................right arrow 3a 5,325,666
bApproved for future payment
ACLU Foundation Inc

125 Broad Street 18th Floor
New York,NY10004 		N/A PC Operating support for ACLU's mission to protect democracy and civil rights in the United States 250,000
Big Thought

1409 Bothan Jean Blvd Ste 1015
Dallas,TX75215 		M/A PC Operating support for Big Thought's work to provide high quality out of school time programming by sparking students' creativity 100,000
Center for Reproductive Rights Inc

199 Water Street 22nd Floor
New York,NY10038 		N/A PC Operating support for litigation and legal efforts to protect and expand reproductive rights in the United States 250,000
Honored Foundation

1645 31st Street NW
Washington,DC20007 		N/A PC Operating support for Honored's mission to recognize and provide support to excellent teachers across the country 500,000
The Trust for Public Land

P O Box 889336
Los Angeles,CA90088 		N/A PC Operating support for development and construction of Five Mile Creek's network of parks and trails 1,000,000
Trinity Park Conservancy

1444 Oak Lawn Ave Ste 200
Dallas,TX75207 		N/A PC Operating support for the development and construction of Harold Simmons Park 250,000
Total ................................. right arrow 3b 2,350,000
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 ........... 		    14 18,152  
4 Dividends and interest from securities ....     14 504,546  
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 ............ 		    18 187,589  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aGSouth K-1 income/(loss) 		    14 -9,870  
bOther misc. income     14 141  
cOV,LP K-1 income/(loss)     14 -11,655  
dRethink Ed. K-1 income/(loss) 901101 -1,681 14 -4,490 -13
e
12 Subtotal. Add columns (b), (d), and (e) .. -1,681 684,413 -13
13Total. Add line 12, columns (b), (d), and (e)..................
13
682,719
(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: 24020490
Software Version: 2024v5.2


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting & tax prep. services 17,100 12,825 0 4,275

TY 2024 InvestmentsCorpBondsSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Name of Bond End of Year Book Value End of Year Fair Market Value
Corporate bonds 1,841,128 1,844,014

TY 2024 InvestmentsCorpStockSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Name of Stock End of Year Book Value End of Year Fair Market Value
Corporate stocks 2,302,499 3,263,461

TY 2024 InvestmentsGovtObligationsSch
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
US Government Securities - End of Year Book Value:

899,665
US Government Securities - End of Year Fair Market Value:

902,075
State & Local Government Securities - End of Year Book Value:


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


 


TY 2024 InvestmentsOtherSchedule2
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Alternative investments AT COST 1,242,996 876,294
Owl Ventures, LP AT COST 188,686 1,478,175
Rethink Education, LP AT COST 315,389 468,119

TY 2024 LiquidationExplanationStmt
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Statement:
The Boone Family Foundation is in the early stages of a planned acceleration of qualifying distributions in order to start planning for a termination sometime in the next five to ten years.


TY 2024 LegalFeesSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal services 15,263 0 0 15,263


TY 2024 OtherAssetsSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Income receivable 8,327 1,972 1,972
Program related investments 250,000 250,000 250,000


TY 2024 OtherExpensesSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Bank service charges 73 73    
Computer/internet/software 2,048     2,048
Grants software licenses 11,286     11,286
Insurance 4,818 2,409   2,409
Meals & entertainment 4,471     4,471
Memberships 5,350     5,350
Office supplies and expenses 436     436
Other investment expenses 5 5    
Professional development 4,594     4,594


TY 2024 OtherIncomeSchedule2
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
GSouth K-1 income/(loss) -9,870 -9,870  
Other misc. income 141 141  
OV,LP K-1 income/(loss) -11,655 -11,655  
Rethink Ed. K-1 income/(loss) -6,184 -4,490  


TY 2024 OtherProfessionalFeesSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Kayne SCV investment mgmt 2,511 2,511 0 0
Parametric investment mgmt 2,113 2,113 0 0
Reinhart Corp FI investment mgmt 117 117 0 0
Seix High Yield investment mgmt 1,546 1,546 0 0
UBS investment management/custody 31,511 31,511 0 0
Vaughn Nelson SMID investment mgmt 3,420 3,420 0 0
Yacktman LCV investment mgmt 3,029 3,029 0 0


TY 2024 TaxesSchedule
Name:
Boone Family Foundation
EIN:
26-1407294
Software ID:
24020490
Software Version:
2024v5.2
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Foreign tax paid 628 628