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
Winston Family Foundation
 
% Mary M Winston
Number and street (or P.O. box number if mail is not delivered to street address)40 E Adams Street STE Suite 100
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Jacksonville, FL32202
A Employer identification number

59-2678732
B Telephone number (see instructions)

(904) 358-7269
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$121,526,222J 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... 2,641,257 2,652,310  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 25,386,060
b Gross sales price for all assets on line 6a 102,684,697
7 Capital gain net income (from Part IV, line 2)... 25,386,060
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
233,069 72,269  
12 Total. Add lines 1 through 11........ 28,260,386 28,110,639  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 59,900     59,900
14 Other employee salaries and wages...... 461,025     461,025
15 Pension plans, employee benefits....... 84,706     84,706
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
17,078     17,078
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
44,925     44,925
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
285,839 235,011   89,946
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
388,518 12,959   25,570
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
266 266  
20 Occupancy.............. 6,325     6,325
21 Travel, conferences, and meetings....... 75,391     75,391
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
155,320     155,320
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,579,293 248,236   1,020,186
25 Contributions, gifts, grants paid....... 26,711,176 3,315,634
26 Total expenses and disbursements. Add lines 24 and 25 28,290,469 248,236   4,335,820
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -30,083
b Net investment income (if negative, enter -0-) 27,862,403
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............. 1,553,672 692,931 692,931
2 Savings and temporary cash investments......... 23,685,144    
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 arrow3,000,000
Less: allowance for doubtful accounts right arrow     Click to see attachment
List of Attached Documents:
// Content
3,000,000 		3,000,000
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)....... 65,506,541 Click to see attachment
List of Attached Documents:
// Content
65,317,617 		74,484,309
c Investments—corporate bonds (attach schedule)....... 479,970 Click to see attachment
List of Attached Documents:
// Content
30,409,174 		30,473,626
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)..........      
14 Land, buildings, and equipment: basis right arrow19,957
Less: accumulated depreciation (attach schedule) right arrow16,265 3,958 Click to see attachment
List of Attached Documents:
// Content
3,692 		3,692
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
20,043,023 		Click to see attachment
List of Attached Documents:
// Content
11,539,658 		Click to see attachment
List of Attached Documents:
// Content
12,871,664
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 111,272,308 110,963,072 121,526,222
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) Click to see attachment
List of Attached Documents:
// Content
27,128 		Click to see attachment
List of Attached Documents:
// Content
25,890
23 Total liabilities (add lines 17 through 22)......... 27,128 25,890
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........ 111,245,180 110,937,182
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)..... 111,245,180 110,937,182
30 Total liabilities and net assets/fund balances (see instructions). 111,272,308 110,963,072
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
111,245,180
2
Enter amount from Part I, line 27a .....................
2
-30,083
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
111,215,097
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
277,915
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
110,937,182
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 UBS 161 LTCG   2021-01-01 2024-12-31
b UBS 071 LTCG   2021-01-01 2024-12-31
c GS 77774 STCG - Covered   2021-01-01 2024-12-31
d GS 77774 STCG - Non-Covered   2023-10-02 2024-01-31
e GS 77774 LTCG - Covered   2020-11-30 2024-02-08
GS 7774 LTCG - Non-Covered   2020-11-01 2024-12-31
GS 77775 STCG   2024-01-01 2024-12-31
GS 77782 STCG   2021-01-01 2024-12-31
GS 83467 LTCG   2024-01-01 2024-12-31
GS 83467 STCG   2024-01-01 2024-12-31
Morgan Creek Partners   2020-01-01 2024-12-31
Third Point   2020-01-01 2024-12-31
Morgan Creek Bric   2020-01-01 2024-12-31
(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 3,000   3,000  
b 1,094   1,116 -22
c 29,320,206   27,261,914 2,058,292
d 9,379   7,879 1,500
e 59,805,163   38,144,592 21,660,571
423,480   299,531 123,949
12,265,344   11,469,312 818,420
119,021   118,426 -128
117,855   4,925 112,930
11,848   9,607 2,241
7,219     7,219
37,152     37,152
13     13
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        
b       -22
c       2,058,292
d       1,500
e       21,660,571
      123,949
      818,420
      -128
      112,930
      2,241
      7,219
      37,152
      13
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 25,386,060
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 1,500
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: 1987-02-03(attach copy of letter if necessary–see instructions) 1 387,287
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........................... 3 387,287
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- ..... 5 387,287
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 365,447
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 50,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Tax Paid with the Original Return: 415447 7 415,447
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 637
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 27,523
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow27,523 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
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowFL
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowWinston Family Foundation Telephone no.right arrow (904) 358-7269

Located atright arrow40 E Adams Street Suite 100JacksonvilleFL ZIP+4right arrow32202
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)
Yes
 
(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
 
No
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
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
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
James H Winston Jr Trustee
010.00 		0    
40 E Adams Street Suite 100
Jacksonville,FL32202
Mary M Winston Trustee
010.00 		29,900    
40 E Adams Street Suite 100
Jacksonville,FL32202
Charles Winston Trustee
010.00 		0    
40 E Adams Street Suite 100
Jacksonville,FL32202
Franklin Beard Trustee
010.00 		30,000    
40 E Adams Street Suite 100
Jacksonville,FL32202
Robert WWinston Trustee
010.00 		0    
40 E Adams Street Suite 100
Jacksonville,FL32202
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
Sylia Obagi Executive Director
040.00 		330,400 33,040  
40 E Adams Street Suite 100
Jacksonville,FL32202
Mary Ross Office Manager
040.00 		130,625 13,598  
40 E Adams Street Suite 100
Jacksonville,FL32202
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
Goldman Sachs & Co LLC Investment Advisory 187,991
3550 Peachtree Road NE Suite 1000
Atlanta,GA30326
Roger Lee Still Consulting Services 66,000
2405 Llyod Court
Columbia,MO65203
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 Project One Health Jax: This program invests to improve the health of children and the environment in the Jacksonville, FL urban core neighborhoods. The program will focus on connecting residents to the nearby Emerald Trail (30 miles of planned trails, greenways and parks encircling urban core). Itemized Expenses: 36,405
2  
3 Project One Health NC: THis program will address the disconnect between young people and nature in North Carolina by engaging children in outdoor experiences along the Neuse River to improve physical and mental well- being and nurture deeper connections to the environment and healthier ecosystems. Itemized Expenses: 86,338
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 Zero interest credit facility granted to Triangle Land Conservancy, Inc. for the acquisiton of the Rose Dairy Farm in Johnston County, North Carolina, which was made as part of the Project One Health North Carolina direct charitable activity described in Part VIII-A above). 3,000,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow3,000,000
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
95,327,737
b
Average of monthly cash balances.......................
1b
2,760,224
c
Fair market value of all other assets (see instructions)................
1c
12,819,742
d
Total (add lines 1a, b, and c).........................
1d
110,907,703
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
110,907,703
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,663,616
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
109,244,087
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
5,462,204
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
5,462,204
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
387,287
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
387,287
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
5,074,917
4
Recoveries of amounts treated as qualifying distributions................
4
151,734
5
Add lines 3 and 4............................
5
5,226,651
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
5,226,651
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 Click to see attachment
List of Attached Documents:
// Content
..........
1a
4,335,820
b
Program-related investments—total from Part VIII-B..................
1b
3,000,000
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
7,335,820
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 5,226,651
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 6,446,289
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........  
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 7,335,820
a Applied to 2023, but not more than line 2a 6,446,289
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2024 distributable amount..... 889,531
e Remaining amount distributed out of corpus  
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  
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 .......... 		4,337,120
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) ... 		 
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		 
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
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

Cathedral Arts Project

207 N Laura St Suite 300
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Children and Nature Network

1611 County Rd B West Ste 315
Roseville,MN55113 		  PC To provide a restricted program or project grant for the Project One Health Jacksonville initiative 870,000

Children's Home Society of Florida

3027 SAN DIEGO ROAD PO BOX 5616
Jacksonville,FL32247 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Cummer Museum Foundation Inc

829 Riverside Ave
Jacksonville,FL32204 		  PC To provide unrestricted general operating support to fulfill their mission 5,000

Douglas Anderson School of the Arts Foundation

1478 Riverplace Blvd Ste 1606
Jacksonville,FL32207 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Duke University

PO Box 90581
Durham,NC27708 		  PC To provide a restricted program or project grant for the Duke Childrens Fund 7,500

Environmental Grantmakers Association

475 Riverside Drive Ste 960
New York,NY10115 		  PC To provide a restricted project grant for Environmental Grantmakers Assoc. 4,400

Episcopal School of Jacksonville Inc

4455 Atlantic Blvd
Jacksonville,FL32207 		  PC To provide a restricted program or project grant for the Science and Student Life Center 250,000

Episcopal School of Jacksonville Inc

4455 Atlantic Blvd
Jacksonville,FL32207 		  PC To provide a restricted program or project grant for the Haskell Center for Science and Student Life 25,000

Exponent

1720 N Street NW
Washington,DC20036 		  PC To provide a restricted program or project grant for 2024 Exponent Signature Plus Membership 3,880

Florida State College at Jacksonville Foundation Inc

501 W State Street
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 12,500

Friends of Johnston County Parks Inc

65 Glen Rd PMB 158
Garner,NC27529 		  PC To provide unrestricted general operating support to fulfill their mission 50,000

Historic Oakwood Cemetery Foundation

701 Oakwood Avenue
Raleigh,NC27601 		  PC To provide a restricted program or project grant for development of a strategic plan for Oakwood Cemetery 30,000

Jacksonville Public Education Fund

40 East Adams Street Ste 110
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 5,000

Jacksonville Symphony Assoc

300 W Water St Ste 200
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 50,000

Jacksonville Zoological Society Inc

370 Zoo Parkway
Jacksonville,FL32218 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Johnston County 4-H Development Fund

2736 NC 210 Hwy
Smithfield,NC27577 		  GOV To provide a restricted grant for 4-H summer camp and other children and nature activities 30,000

Junior Achievement Inc

4049 Woodcock Dr Suite 200
Jacksonville,FL32207 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Lead The Way Fund

300 Garden City Plaza Suite 149
New York,NY11530 		  PC To provide unrestricted general operating support to fulfill the mission of Ranger Support 7,500

Leadership Jacksonville Inc

40 East Adams St Ste 230
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

Museum of Contemporary Art

333 N Laura St
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

National Center for Family Philanthropy Inc

1667 K Street NW Ste 350
Washington,DC20006 		  PC To provide a restricted program or project grant for the 2024 Leadership Circle Support 10,000

Nonprofit Center of Northeast Florida

40 East Adams Street Ste 100
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for 2024-2025 Membership Dues 5,000

Nonprofit Center of Northeast Florida

40 East Adams Street Ste 100
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 5,000

North Carolina Community Foundation Inc

3737 Glenwood Avenue Suite 460
Raleigh,NC27612 		  PC To provide a restricted program or project grant for NCNG Membership Renewal 2,380

North Carolina Community Foundation Inc

3737 Glenwood Avenue Suite 460
Raleigh,NC27612 		  PC To provide a restricted program or project grant for NCNG 2025 Annual Meeting Conference Sponsorship 2,500

North Carolina Community Foundation Inc

3737 Glenwood Avenue Suite 460
Raleigh,NC27612 		  PC To provide a restricted program grant for Project One Health NC 65,712

Philanthropy Southeast

100 Peachtree St NW Ste 2080
Atlanta,GA30303 		  PC To provide a restricted program or project grant for Philanthropy Southeast Membership 4,550

Philanthropy Southeast

100 Peachtree St NW Ste 2080
Atlanta,GA30303 		  PC To provide a restricted program or project grant for 2025 CEO Forum Sponsorship 2,500

Ravenscroft School

7409 Falls of Neuse Road
Raleigh,NC27615 		  PC To provide a restricted program or project grant for Dare To Dream 100,000

Sound Rivers Inc

PO Box 1854
Washington,NC27889 		  PC To provide a restricted program or project grant for Neuse River clean up in Johnston County, NC 50,000

St Mark's Episcopal Church

4129 Oxford Avenue
Jacksonville,FL32210 		  PC To provide unrestricted general operating support to fulfill their mission 12,500

St Mark's Episcopal Church

4129 Oxford Avenue
Jacksonville,FL32210 		  PC To provide a restricted program or project grant for the sound video system 75,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for Kimmie Winston Donor Advised Fund 50,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for Kimmie Winston Donor Advised Fund 20,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 50,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for the One Health Initiative 105,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program grant for Project One Health Jacksonville Fund 600,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for Kimmie Winston Donor Advised Fund 15,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC To provide a restricted program or project grant for Project One Health Jacksonville Fund Donor Advised Fund 216,000

The Community Foundation for Northeast Florida

245 Riverside Ave Suite 310
Jacksonville,FL32202 		  PC DAF Replenishment Grant for Project One Health Jacksonville Fund 114,712

The Community Foundation of Western North Carolina

4 Vanderbilt Park Drive Suite 300
Asheville,NC28803 		  PC To provide a restricted program grant for Emergency and Disaster Response Fund - North Carolina Recovery 19,000

The Nantucket Project Academy

PO Box 568
Durham,NC27702 		  PC To provide unrestricted general operating support to fulfill their mission 250,000

Triangle Land Conservancy Inc

PO Box 1848
Durham,NC27702 		  PC To provide unrestricted general operating support to fulfill their mission 105,000

UNFOneJax

112 W Adams St 4th Floor
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 5,000

United Way of Northeast Florida

40 E Adams Street Suite 200
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 10,000

Virginia Episcopal School

400 VES Rd
Lyncburg,VA24503 		  PC To provide unrestricted general operating support to fulfill their mission 25,000

Winston Family Initiative in Tech & Adolescent Brain Development Inc

1455 Ocean Drive Unit 802
Miami Beach,FL33139 		  PF To effectuate a severance of a portion of the Foundations assets as described in item 3 of the General Explanation returned herewith. 23,395,542

WJCT Inc

100 Festival Park Ave
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 2,500

YMCA of Floridas First Coast

40 East Adam Street Suite 210
Jacksonville,FL32202 		  PC To provide unrestricted general operating support to fulfill their mission 25,000
Total .................................right arrow 3a 26,711,176
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 2,641,257  
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 .....     18 233,069  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 25,386,060  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   28,260,386  
13Total. Add line 12, columns (b), (d), and (e)..................
13
28,260,386
(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: 24019898
Software Version: 24.0.1.0
Part VI Line 7 - Tax Paid with the Original Return: 415,447


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 44,925     44,925

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 DepreciationSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
Office furniture 2019-12-31 20,040 13,158 MACRS 0000000007.000000000000        
EDP equipment 2019-12-31 4,252 3,010 MACRS 0000000007.000000000000        
Leasehold/Tenant Improvements 2023-11-30 19,957 15,999 MACRS 0000000015.000000000000 266 266    

TY 2024 GeneralExplanationAttachment
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Identifier Return Reference Explanation
  EXPENDITURE RESPONSIBILITY EXPLANATION TO PART VI-B LINE 5a4 STATEMENT PURSUANT TO SECTION 53.4945-c EXPENDITURE RESPONSIBILITY EXPLANATION TO PART VI-B LINE 5a4 STATEMENT PURSUANT TO SECTION 53.4945-c -- i GRANTEE NAME/ADDRESS/EIN Robert and Tracy Winston Foundation EIN 26-0341648, 2745 Lakeview Drive, Raleigh, NC 27609 ii GRANT AMOUNT/DATE 126,089.49 11/1/2024 iii GRANT PURPOSE to provide funds for grantmaking exclusively for charitable and educational purposes within the meaning of IRC section 170c2b iv AMOUNT EXPENDED BY GRANTEE 100,000.00 v DATE OF GRANTEE REPORT RESULTS 9/30/2025 - showing a single grant of 100,000 to the University of North Carolina at Chapel Hill vi HAS GRANTEE DIVERTED FUNDS No. The Foundation treated this grant as a qualified distribution within the meaning of section 4942g for the tax year ending December 31, 2023 and relied on the flow-through exemption in IRC section 4942g3 however, the Foundation has recaptured 26,089.49 on line 4 of Part X as the undistributed amount of the grant as of December 31, 2024. EXPENDITURE RESPONSIBILITY EXPLANATION TO PART VI-B LINE 5a4 STATEMENT PURSUANT TO SECTION 53.4945-c -- i GRANTEE NAME/ADDRESS/EIN Winston Family Initiative in Tech Adolescent Brain Development Inc. EIN 93-2086971, 1455 Ocean Drive, Apt. 802, Miami Beach, FL 33139 ii GRANT AMOUNT/DATE 231,042.18 8/9/2023 iii GRANT PURPOSE to provide funds for grantmaking exclusively for charitable and educational purposes within the meaning of IRC section 170c2b iv AMOUNT EXPENDED BY GRANTEE 105,396.74 v DATE OF GRANTEE REPORT RESULTS 9/30/2025 - showing qualified charitable distributions totaling 105,396.74 vi HAS GRANTEE DIVERTED FUNDS No. The Foundation treated this grant as a qualified distribution within the meaning of section 4942g for the tax year ending December 31, 2023 and relied on the flow-through exemption in IRC section 4942g3 however, the Foundation has recaptured 125,645.44 on line 4 of Part X as the undistributed amount of the grant as of December 31, 2024. EXPENDITURE RESPONSIBILITY EXPLANATION TO PART VI-B LINE 5a4 STATEMENT PURSUANT TO SECTION 53.4945-c -- i GRANTEE NAME/ADDRESS/EIN Winston Family Initiative in Tech Adolescent Brain Development Inc. EIN 93-2086971, 1455 Ocean Drive, Apt. 802, Miami Beach, FL 33139 ii GRANT AMOUNT/DATE 23,395,541.69.18 1/4/2024 iii GRANT PURPOSE to resolve and reform governance of the Foundation by severing and disbursing 20 of the Foundations assets in favor of the recipient foundation, which would be controlled by a trustee of the Foundation who resigned as a trustee of the Foundation effective as of 1/4/2024, and will provide the recipient foundation funds for grantmaking exclusively for charitable and educational purposes within the meaning of IRC section 170c2b iv AMOUNT EXPENDED BY GRANTEE 0.00 v DATE OF GRANTEE REPORT RESULTS 9/30/2025 - None of these specific grant funds have been expended by the Grantee vi HAS GRANTEE DIVERTED FUNDS No. This grant is not treated as a qualified distribution within the meaning of section 4942g. Therefore, this amount has been reported on Form 990-PF, Part I, line 25 Contributions, gifts, grants paid, but has not been included in the calculation of qualifying distributions on Part XII and does not reduce undistributed income for purposes of section 4942.

TY 2024 InvestmentsCorpBondsSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Name of Bond End of Year Book Value End of Year Fair Market Value
Corporate Bonds 30,409,174 30,473,626

TY 2024 InvestmentsCorpStockSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Name of Stock End of Year Book Value End of Year Fair Market Value
Corporate Stocks 65,317,617 74,484,309

TY 2024 LandEtcSchedule2
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Leasehold Improvements 19,957 16,265 3,692 3,692


TY 2024 LegalFeesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal Fees 17,078     17,078


TY 2024 OtherAssetsSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Private Investments 1,808,297 3,559,721 3,044,941
Hedge Funds 13,572,367 4,014,225 4,849,323
Real Estate Investments 4,558,629 3,883,697 4,895,385
Artwork, sculptures, and rugs 103,730 82,015 82,015


TY 2024 OtherDecreasesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description Amount
Adjustment re difference between fair market value and book value of in-kind grants. 277,915


TY 2024 OtherExpensesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DCA - Project One Health Jax - See Part VIII-A 36,405     36,405
DCA - Project One Health NC - See Part VIII-A 86,338     86,338
--Equipment 407     407
--Fees - Payroll 8,634     8,634
--Fees - Bank Credit Card 71     71
--Fees - Permits and Business Licenses 340     340
--Fees - Website Licenses 138     138
--Insurance - Property, Casualty Umbrella 1,306     1,306
--Insurance - Directors, Officers Trustees 1,561     1,561
--Insurance - Workers Compensation 895     895
--Repairs and Maintenance 5,461     5,461
--Subscriptions - Software 6,414     6,414
--Subscriptions - Periodicals 2,191     2,191
--Supplies 1,415     1,415
--Utilities - Phone, Internet Fax 1,980     1,980
--Utilities - Cell Phones 1,764     1,764


TY 2024 OtherIncomeSchedule2
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Ridgewood Energy T Fund, LLC 790 713  
Morgan Creek Partners II, LP 9,000 571  
Merchants Plaza at Ponte Vedra, LLLP 83,736 65,588  
Third Point   5,397  
Trumbull Prop. Growth Income Fund 126,891    
Tiger Global 12,652    


TY 2024 OtherLiabilitiesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Description Beginning of Year - Book Value End of Year - Book Value
Other liabilities adjustment for cash payables and credit card balance 27,128 25,890


TY 2024 OtherNotesLoansRcvblShortSch2
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Name of 501(c)(3) Organization Balance Due
PRI - Triangle Land Conservancy Inc
  		3,000,000


TY 2024 OtherProfessionalFeesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Consulting Staff Development Admin 7,675     7,675
Consulting Grant Management 34,800     34,800
Consulting Administration 44,221     44,221
Consulting Information Technology 3,250     3,250
UBS Investment Advisory Fees 7,328 7,328    
UBS ADR and Misc Fees 562 562    
Goldman Sachs Advisory Fees 187,991 187,991    
Goldman Sachs ADR and Misc Fees 12 12    
Portfolio Expenses from Sch. K-1   39,118    


TY 2024 TaxesSchedule
Name:
Winston Family Foundation
EIN:
59-2678732
Software ID:
24019898
Software Version:
24.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Employers Social Security Taxes Payroll 18,272     18,272
Employers Medicare Taxes Payroll 6,648     6,648
Employers State Reemployment Taxes Payroll 650     650
Net Investment Income Excise Tax Paid in 2024 350,000      
Foreign Tax Paid UBS Investments 12,948 12,948    
Foreign Tax Allocated from Sch. K-1   11