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
BEAL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)104 S PECOS STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MIDLAND, TX79701
A Employer identification number

75-6034480
B Telephone number (see instructions)

(432) 682-3753
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$105,779,518J 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 752,899 745,066  
4 Dividends and interest from securities... 2,186,892 1,966,195  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,670,720
b Gross sales price for all assets on line 6a 25,286,558
7 Capital gain net income (from Part IV, line 2)... 3,670,720
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
11,555,640 11,555,640  
12 Total. Add lines 1 through 11........ 18,166,151 17,937,621  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
10,200 7,650   2,550
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
670,126 502,594   167,531
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
950,764 710,764   0
19 Depreciation (attach schedule) and depletion... 120,935 120,935  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
350,642 294,385   10,329
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,102,667 1,636,328   180,410
25 Contributions, gifts, grants paid....... 5,815,000 5,815,000
26 Total expenses and disbursements. Add lines 24 and 25 7,917,667 1,636,328   5,995,410
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 10,248,484
b Net investment income (if negative, enter -0-) 16,301,293
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 -4 -4
2 Savings and temporary cash investments......... 5,867,176 14,147,665 14,147,665
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 60,840,307 Click to see attachment
List of Attached Documents:
// Content
62,912,653 		68,675,696
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 3,030,675 Click to see attachment
List of Attached Documents:
// Content
3,047,261 		3,047,261
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
1,412,323 		Click to see attachment
List of Attached Documents:
// Content
1,291,388 		Click to see attachment
List of Attached Documents:
// Content
19,908,900
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 71,150,479 81,398,963 105,779,518
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 71,150,479 81,398,963
29 Total net assets or fund balances (see instructions)..... 71,150,479 81,398,963
30 Total liabilities and net assets/fund balances (see instructions). 71,150,479 81,398,963
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
71,150,479
2
Enter amount from Part I, line 27a .....................
2
10,248,484
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
81,398,963
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
81,398,963
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 RBC 465 P    
b RBC 465 P    
c RBC 507 P    
d RBC 507 P    
e RBC 323 P    
RBC 323 P    
RBC 463 P    
RBC 463 P    
RBC 608 P    
RBC 608 P    
RBC 060 P    
RBC 060 P    
RBC 767 P    
RBC 560 P    
RBC 560 P    
RBC 286 P    
RBC 286 P    
RBC 825 P    
RBC 825 P    
RBC SECURITIES ADJUSTMENT P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 61,208   66,655 -5,447
b 297,096   291,645 5,451
c 400,352   372,577 27,775
d 1,635,683   1,391,797 243,886
e 390,847   383,055 7,792
1,815,115   1,850,901 -35,786
3,428,066   3,030,865 397,201
14,611,046   11,893,897 2,717,149
772,853   711,028 61,825
1,288,754   1,032,939 255,815
44,766   42,864 1,902
108,995   99,594 9,401
46,025   47,937 -1,912
32,518   29,112 3,406
37,900   35,491 2,409
16,902   16,794 108
137,861   144,818 -6,957
32,968   29,169 3,799
93,566   51,858 41,708
    92,842 -92,842
34,037     34,037
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       -5,447
b       5,451
c       27,775
d       243,886
e       7,792
      -35,786
      397,201
      2,717,149
      61,825
      255,815
      1,902
      9,401
      -1,912
      3,406
      2,409
      108
      -6,957
      3,799
      41,708
      -92,842
      34,037
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 3,670,720
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) 1 226,588
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 226,588
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 226,588
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 253,929
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 35,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 288,929
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 62,341
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow62,341 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right 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 arrowN/A
14
The books are in care ofright arrowBEAL FOUNDATION Telephone no.right arrow (432) 682-3753

Located atright arrow104 S PECOS STREETMIDLANDTX ZIP+4right arrow79701
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
SPENCER BEAL TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
BARRY BEAL JR TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
STUART BEAL SECRETARY/TREASURER
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
STEVE SCHORR TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
ELIZABETH BEAL DAVENPORT CHAIRMAN/PRESIDENT
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
KARLENE BEAL GARBER TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
STEVE HOFER CO COTTON BLEDSOE TRUSTEE
0.00 		0 0 0
PO BOX 50174
MIDLAND,TX79710
LAURA BUCKNER TRUSTEE
0.00 		0 0 0
6 DESTA DRIVE SUITE 5800
MIDLAND,TX797055546
ALEX BEAL TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
MICHAEL BEAL TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
HILL DAVENPORT TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
CALLIE FUQUA TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
ASHLEY LAFEVERS TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
ADAM DAVENPORT TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
PHILLIP BEAL TRUSTEE
0.00 		0 0 0
104 S PECOS
MIDLAND,TX79701
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
RBC CAPITAL MARKETS INVESTMENT MANAGEMENT SERVICES 521,305
PO BOX 1510
MINNEAPOLIS,MN554401550
PROSPERITY BANK INVESTMENT MANAGEMENT SERVICES 148,821
4200 WEST WADLEY
MIDLAND,TX79707
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (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
71,651,585
b
Average of monthly cash balances.......................
1b
12,589,200
c
Fair market value of all other assets (see instructions)................
1c
19,908,900
d
Total (add lines 1a, b, and c).........................
1d
104,149,685
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
104,149,685
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,562,245
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
102,587,440
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
5,129,372
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
5,129,372
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
226,588
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
226,588
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
4,902,784
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
4,902,784
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
4,902,784
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
5,995,410
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
5,995,410
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 4,902,784
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 2,695,823
b From 2020...... 1,615,490
c From 2021...... 657,129
d From 2022...... 3,766,601
e From 2023...... 3,083,320
f Total of lines 3a through e ........ 11,818,363
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 5,995,410
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 4,902,784
e Remaining amount distributed out of corpus 1,092,626
5 Excess distributions carryover applied to 2024. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 12,910,989
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		2,695,823
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		10,215,166
10 Analysis of line 9:
a Excess from 2020.... 1,615,490
b Excess from 2021.... 657,129
c Excess from 2022.... 3,766,601
d Excess from 2023.... 3,083,320
e Excess from 2024.... 1,092,626
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 e-mail address of the person to whom applications should be addressed:
ELIZABETH DAVENPORT
104 S PECOS
MIDLAND,TX79701
(432) 682-3753
bThe form in which applications should be submitted and information and materials they should include:
THE BEAL FOUNDATION GRANT APPLICATION IS ONLY AVAILABLE AT WWW.THEBEALFOUNDATION.ORG INFORMATION REQUIRED FOR A GRANT APPLICATION IS DETAILED ON THE WEBSITE, INCLUDING THE CRITERIA FOR QUALIFIED ORGANIZATIONS THAT CAN APPLY. APPLICANTS MUST SUBMIT A GRANT APPLICATION ONLINE BY FEBRUARY 15 FOR THE APRIL MEETING AND BY SEPTEMBER 15 FOR THE NOVEMBER MEETING.
cAny submission deadlines:
FEBRUARY 15 FOR APRIL GRANTS AND SEPTEMBER 15 FOR NOVEMBER GRANTS.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
GRANTS WILL BE CONSIDERED FOR AGENCIES INVOLVING EDUCATION, HEALTH, HUMANITIES, AND WELFARE IN THE MIDLAND, TEXAS GEOGRAPHIC AREA. QUALIFIED ORGANIZATIONS: ARE TAX-EXEMPT UNDER INTERNAL REVENUE CODE SECTION 501(C)(3), ARE FURTHER CLASSIFIED AS A PUBLIC CHARITY UNDER INTERNAL REVENUE CODE SECTION 509(A), AND PROVIDE A COPY OF THE IRS LETTER OF DETERMINATION RULING. APPLICANTS CLAIMING EXEMPTION AS A GOVERNMENT ENTITY MUST ALSO PROVIDE EVIDENCE OF THEIR TAX-EXEMPT STATUS. INCOMPLETE ONLINE APPLICATIONS WILL NOT BE CONSIDERED. ALL REQUIRED INFORMATION MUST BE SUBMITTED BY THE DEADLINE. ONLY ONLINE GRANT APPLICATIONS WILL BE ACCEPTED.
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

311 MINISTRIES

PO BOX 8402
MIDLAND,TX79708 		  PC OPERATING FUNDS 15,000

ADDY'S HOPE ADOPTION AGENCY

4500 W ILLINOIS AVE STE 202
MIDLAND,TX79703 		  PC OPERATING FUNDS 10,000

AMERICAN DIABETES ASSOCIATION

8008 SLIDE RD 12A
LUBBOCK,TX79242 		  PC OPERATING FUNDS 20,000

AMY BELL CHARITIES INC FOUNDATION

PO BOX 10649
MIDLAND,TX79702 		  PC OPERATING FUNDS 10,000

APHASIA CENTER OF WEST TEXAS INC

5214 THOMASON DR
MIDLAND,TX79703 		  PC OPERATING FUNDS 20,000

ARCHWAY OUTREACH INC

114 N MIDKIFF ROAD
MIDLAND,TX79701 		  PC OPERATING FUNDS 50,000

ASPEN VALLEY HOSPITAL FOUNDATION

401 CASTLE CREEK RD
ASPEN,CO81611 		  PC OPERATING FUNDS 20,000

BASIN DREAM CENTER FOR ORPHANS

PO BOX 52473
MIDLAND,TX79710 		  PC OPERATING FUNDS 405,000

BOYS & GIRLS CLUB OF MIDLAND

PO BOX 284
MIDLAND,TX79702 		  PC OPERATING FUNDS 20,000

BREAKING BREAD KITCHEN

PO BOX 9402
MIDLAND,TX79701 		  PC OPERATING FUNDS 20,000

BRONTE INDEPENDENT SCHOOL DISTRICT

210 JEFFERSON STREET
BRONTE,TX76933 		  PC OPERATING FUNDS 30,000

BUCKNER CHILDREN AND FAMILY SERVICES

425 W PECAN ST
MIDLAND,TX79705 		  PC OPERATING FUNDS 75,000

BYNUM SCHOOL

PO BOX 80175
MIDLAND,TX79708 		  PC OPERATING FUNDS AND CAPITAL FUNDS 190,000

CASA DE AMIGOS OF MIDLAND

1101 E GARDEN LANE
MIDLAND,TX79701 		  PC OPERATING FUNDS 20,000

CASA OF WEST TEXAS

1611 W TEXAS AVE
MIDLAND,TX79701 		  PC CAPITAL FUNDS 50,000

CENTERS FOR CHILDREN AND FAMILIES

3701 ANDREWS HWY
MIDLAND,TX79703 		  PC OPERATING FUNDS 30,000

CHRISTMAS IN ACTION MIDLAND

PO BOX 3744
MIDLAND,TX79702 		  PC OPERATING FUNDS 5,000

COM AQUATICS INC

3003 N A ST
MIDLAND,TX79705 		  PC CAPITAL FUNDS 15,000

COMMUNITIES IN SCHOOLS OF THE PERMIAN BASIN

PO BOX 10532
MIDLAND,TX79702 		  PC OPERATING FUNDS 45,000

COMMUNITY BIBLE STUDY

790 STOUT RD
COLORADO SPRINGS,CO80921 		  PC OPERATING FUNDS 5,000

COMMUNITY CHILDREN'S CLINIC

PO BOX 3328
MIDLAND,TX79702 		  PC OPERATING FUNDS 30,000

CRIME STOPPERS OF MIDLAND INC

PO BOX 1882
MIDLAND,TX79702 		  PC OPERATING FUNDS 10,000

EAST WEST MINISTRIES

2001 W PLANO PKWY STE 3000
PLANO,TX75075 		  PC OPERATING FUNDS 20,000

EMMANUEL CHAPEL

P O BOX 301
SOUTH FORK,CO81154 		  PC OPERATING FUNDS 5,000

FAMILY PROMISE OF MIDLAND

2908 W OHIO AVE
MIDLAND,TX79701 		  PC OPERATING FUNDS 50,000

FIRST BAPTIST CHURCH FORT DAVIS

111 S AGAVE ST
FORT DAVIS,TX79734 		  PC OPERATING FUNDS 20,000

FIRST PRESBYTERIAN CHURCH MIDLAND

800 W TEXAS AVE
MIDLAND,TX79701 		  PC OPERATING FUNDS 550,000

FIRST TEE WEST TEXAS

PO BOX 53035
MIDLAND,TX79710 		  PC OPERATING FUNDS 65,000

FOCUS ON THE FAMILY

8605 EXPLORER DRIVE
COLORADO SPRINGS,CO80902 		  PC OPERATING FUNDS 10,000

FOOD PANTRY OF JEFF DAVIS COUNTY

PO BOX 244
FORT DAVIS,TX79734 		  PC OPERATING FUNDS 15,000

FRIENDSHIP HOUSE

PO BOX 52621
MIDLAND,TX79705 		  PC OPERATING FUNDS 25,000

GLADNEY CENTER FOR ADOPTION

410 W OHIO AVE STE 203
MIDLAND,TX79701 		  PC OPERATING FUNDS 10,000

HIGH SKY CHILDREN'S RANCH

8613 WEST COUNTRY ROAD 60
MIDLAND,TX79707 		  PC OPERATING FUNDS AND CAPITAL FUNDS 120,000

HIGHLAND COUNCIL FOR THE DEAF

PO BOX 1935
BIG SPRING,TX79721 		  PC OPERATING FUNDS 45,000

HILLCREST SCHOOL

2800 N A ST
MIDLAND,TX79705 		  PC OPERATING FUNDS AND CAPITAL FUNDS 35,000

HOSPICE OF MIDLAND

911 W TEXAS AVE
MIDLAND,TX79701 		  PC OPERATING FUNDS 10,000

IDLE HANDS MINISTRIES

402 SUNSET STREET
MIDLAND,TX79701 		  PC OPERATING FUNDS 25,000

JUNIOR ACHIEVEMENT OF WEST TEXAS INC

306 W WALL SUITE 827
MIDLAND,TX79701 		  PC OPERATING FUNDS 35,000

MANOR PARKINC

2208 NORTH LOOP 250 WEST
MIDLAND,TX79705 		  PC CAPITAL FUNDS 70,000

MARC INC

2701 NORTH A ST
MIDLAND,TX79705 		  PC OPERATING FUNDS AND CAPITAL FUNDS 25,000

MIDLAND ATHLETIC SYNDICATE

300 N MARIENFELD ST STE 700
MIDLAND,TX79701 		  PC OPERATING FUNDS AND CAPITAL FUNDS 1,000,000

MIDLAND CHILDREN'S REHABILITATION CENTER

802 VENTURA
MIDLAND,TX79705 		  PC OPERATING FUNDS 95,000

MIDLAND COMMUNITY THEATRE INC

2000 W WADLEY
MIDLAND,TX79705 		  PC OPERATING FUNDS 20,000

MIDLAND COUNTY PUBLIC LIBRARY FOUNDATION

301 W MISSOURI AVE
MIDLAND,TX79701 		  PC OPERATING FUNDS 20,000

MIDLAND FAIR HAVENS

2400 WHITMIRE BLVD STE 100
MIDLAND,TX79705 		  PC OPERATING FUNDS 10,000

MIDLAND HABITAT FOR HUMANITY

PO BOX 2555
MIDLAND,TX79702 		  PC OPERATING FUNDS 95,000

MIDLAND ISD EDUCATION FOUNDATION

PO BOX 73
MIDLAND,TX79702 		  PC OPERATING FUNDS 20,000

MIDLAND MEMORIAL FOUNDATION

400 ROSALIND REDFERN GROVER PARKWAY
MIDLAND,TX79701 		  PC CAPITAL FUNDS 50,000

MIDLAND RAPE CRISIS CENTER & CAC

PO BOX 10081
MIDLAND,TX79702 		  PC OPERATING FUNDS 185,000

MIDLAND SHARED SPACES

3500 NORTH A STREET STE 1100
MIDLAND,TX79705 		  PC OPERATING FUNDS 15,000

MIDLAND-ODESSA SYMPHONY & CHORALE INC

PO BOX 60658
MIDLAND,TX79711 		  PC OPERATING FUNDS 50,000

MISSION AGAPE

PO BOX 3419
MIDLAND,TX79702 		  PC OPERATING EXPENSES 391,000

MISSION HEALTH CARE INC

3500 NORTH A STREET SUITE 1300
MIDLAND,TX79705 		  PC OPERATING FUNDS 50,000

MUSEUM OF THE SOUTHWEST

1705 W MISSOURI AVE
MIDLAND,TX79701 		  PC OPERATING FUNDS 50,000

NONPROFIT MANAGEMENT CENTER OF THE PERMIAN BASIN

3500 NORTH A STREET STE 2300
MIDLAND,TX79705 		  PC OPERATING FUNDS 10,000

ODESSA CHRISTMAS IN ACTION INC

PO BOX 15075
ODESSA,TX79768 		  PC CAPITAL FUNDS 10,000

OILFIELD CHRISTIAN FELLOWSHIP

4816 RANGEWOOD COURT
MIDLAND,TX79707 		  PC OPERATING FUNDS 2,000

PARTNERS RELIEF AND DEVELOPMENT

PO BOX 1992
GRAND RAPIDS,MI495011992 		  PC OPERATING FUNDS 20,000

PERMIAN BASIN BE THE CHANGE

PO BOX 52643
MIDLAND,TX79710 		  PC OPERATING FUNDS 15,000

PERMIAN BASIN FELLOWSHIP OF CHRISTIAN ATHLETES

3500 NORTH A STREET STE 2600
MIDLAND,TX79705 		  PC OPERATING FUNDS 20,000

PERMIAN BASIN GIFTS OF HOPE

PO BOX 1323
MIDLAND,TX79702 		  PC OPERATING FUNDS 45,000

PERMIAN BASIN HONOR FLIGHT

PO BOX 52890
MIDLAND,TX797102890 		  PC OPERATING FUNDS 30,000

PERMIAN BASIN PETROLEUM MUSEUM

1500 INTERSTATE 20 WEST
MIDLAND,TX79701 		  PC OPERATING FUNDS 16,000

POLWARTH MINISTRIES

3512 STURGIS LANE
WACO,TX76708 		  PC OPERATING FUNDS 30,000

RECORDING LIBRARY OF WEST TEXAS

3500 NORTH A STREET SUITE 2800
MIDLAND,TX79705 		  PC OPERATING FUNDS 40,000

REDEEMER CHURCH OF MIDLAND

1901 NORTHRUP DR
MIDLAND,TX79705 		  PC OPERATING FUNDS 4,000

REFLECTION MINISTRIES OF TEXAS INC

PO BOX 52371
MIDLAND,TX79710 		  PC OPERATING EXPENSE 50,000

ROPE YOUTH

3500 W GOLF COURSE ROAD
MIDLAND,TX79703 		  PC OPERATING FUNDS 35,000

SAFE PLACE OF THE PERMIAN BASIN

PO BOX 11331
MIDLAND,TX79702 		  PC OPERATING FUNDS AND CAPITAL PROJECTS 70,000

SAINT JOHN'S HEALTH CENTER FOUNDATION

2121 SANTA MONICA BLVD
SANTA MONICA,CA90404 		  PC OPERATING EXPENSE 35,000

SAMARITAN COUNSELING CENTER

PO BOX 60312
MIDLAND,TX79711 		  PC OPERATING FUNDS 82,000

SENIOR LIFE MIDLAND

3301 SINCLAIR AVE
MIDLAND,TX79707 		  PC OPERATING FUNDS 55,000

SHARING HANDS A RESPITE EXPERIENCE

3500 NORTH A STREET STE 2500
MIDLAND,TX79705 		  PC OPERATING FUNDS 20,000

SIBLEY ENVIRONMENTAL LEARNING CENTER FOUNDATION

1307 E WADLEY AVE
MIDLAND,TX79705 		  PC OPERATING FUNDS 10,000

SPECIAL OLYMPICS TEXAS INC

15 SMITH RD STE 3002
MIDLAND,TX79705 		  PC OPERATING FUNDS 15,000

SPECTRUM SOLUTIONS

2701 NORTH A ST
MIDLAND,TX79705 		  PC OPERATING FUNDS 20,000

STEPHEN SILLER TUNNEL TO TOWERS FOUDNATION

2361 HYLAN BLVD
STATEN ISLAND,NY10306 		  PC OPERATING FUNDS 10,000

STICK HORSES AND CAPES

PO BOX 4079
ABILENE,TX79608 		  PC OPERATING FUNDS 100,000

TEEN CHALLENGE

PO BOX 251
MIDLAND,TX79702 		  PC OPERATING FUNDS 40,000

TEEN FLOW YOUTH MINISTRY

PO BOX 733
MIDLAND,TX79702 		  PC OPERATING FUNDS 35,000

THE FIELD'S EDGE

6003 MEADOWVIEW LANE
MIDLAND,TX79707 		  PC OPERATING FUNDS 75,000

THE JUNIOR LEAGUE OF MIDLAND INC

902 W DENGAR AVE
MIDLAND,TX79705 		  PC OPERATING FUNDS 15,000

THE SPRINGBOARD CENTER

200 CORPORATE DR
MIDLAND,TX79705 		  PC CAPITAL FUNDS 75,000

THRIVING UNITED

301 EAST ILLINOIS AVENUE
MIDLAND,TX79701 		  PC OPERATING FUNDS 50,000

TRINITY SCHOOL OF MIDLAND

3500 WEST WADLEY
MIDLAND,TX79707 		  PC OPERATING FUNDS AND CAPITAL FUNDS 150,000

WEST TEXAS FOOD BANK

411 PAGEWOOD AVE
ODESSA,TX79761 		  PC OPERATING FUNDS 100,000

YMCA OF MIDLAND

PO BOX 954
MIDLAND,TX79702 		  PC OPERATING FUNDS 200,000

YOUNG LIFE MIDLAND

925 W WADLEY AVE
MIDLAND,TX79705 		  PC OPERATING FUNDS AND CAPITAL FUNDS 50,000
Total .................................right arrow 3a 5,815,000
bApproved for future payment
Total ................................. right arrow 3b 0
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 ........... 		    14 752,899  
4 Dividends and interest from securities ....     14 2,186,892  
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 .....     15 11,555,640  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 3,670,720  
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) .. 0 18,166,151 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
18,166,151
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 10,200 7,650   2,550

TY 2024 InvestmentsCorpStockSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Name of Stock End of Year Book Value End of Year Fair Market Value
INVESTMENT SECURITIES 62,912,653 68,675,696

TY 2024 InvestmentsOtherSchedule2
Name:
BEAL FOUNDATION
EIN:
75-6034480
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
VELOCIS FUND III AT COST 3,047,261 3,047,261

TY 2024 OtherAssetsSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
OIL & GAS PRODUCING ROYALTY 3,632,329 3,632,329 19,908,900
ACCUMULATED DEPLETION -2,220,006 -2,340,941 0


TY 2024 OtherExpensesSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MEETINGS AND ADMINISTRATIVE 1,160 870   290
ROYALTY PRODUCTION EXPENSES 263,398 263,398   0
OIL AND GAS EVALUATION 40,156 30,117   10,039
VELOCIS FUND NONDEDUCTIBLE EXPENSE 45,928 0   0


TY 2024 OtherIncomeSchedule2
Name:
BEAL FOUNDATION
EIN:
75-6034480
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
CLASS ACTION SETTLEMENT 10,690 10,690 10,690
OIL & GAS ROYALTY INCOME 11,535,352 11,535,352 11,535,352
OTHER INVESTMENT INCOME 9,598 9,598 9,598


TY 2024 OtherProfessionalFeesSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 148,821 111,615   37,205
INVESTMENT MANAGEMENT FEES 521,305 390,979   130,326


TY 2024 TaxesSchedule
Name:
BEAL FOUNDATION
EIN:
75-6034480
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AD VALOREM TAX 314,718 314,718   0
ROYALTY PRODUCTION TAX 343,664 343,664   0
FOREIGN TAX ON DIVIDENDS 52,382 52,382   0
FEDERAL EXCISE TAX 240,000 0   0