TY 2024 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
The Gerald D and Helen M Stephens
Foundation
% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

37-1224611

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$51,579,109J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	4,900,000
2	Check .............
3	Interest on savings and temporary cash investments	210,259		210,259
4	Dividends and interest from securities...	1,288,435		1,288,435
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		194,904
b	Gross sales price for all assets on line 6a 2,301,076
7	Capital gain net income (from Part IV, line 2)...			194,904
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).......
12	Total. Add lines 1 through 11........	6,593,598		1,693,598
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	63,308	63,308
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	21,300	833
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	67,457	96		67,361
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	152,065		64,237		67,361
25	Contributions, gifts, grants paid.......	1,447,825				1,447,825
26	Total expenses and disbursements. Add lines 24 and 25	1,599,890		64,237		1,515,186
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	4,993,708
b	Net investment income (if negative, enter -0-)			1,629,361
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	4,904,859	4,695,836	4,695,836
	3	Accounts receivable 12,003
		Less: allowance for doubtful accounts	2,031	12,003	12,003
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	739,630	List of Attached Documents: // Content 1,236,950	1,213,972
	b	Investments—corporate stock (attach schedule).......	23,239,392	List of Attached Documents: // Content 26,394,065	42,481,815
	c	Investments—corporate bonds (attach schedule).......	1,585,435	List of Attached Documents: // Content 3,126,201	3,175,483
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	30,471,347	35,465,055	51,579,109
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	30,471,347	35,465,055
	29	Total net assets or fund balances (see instructions).....	30,471,347	35,465,055
	30	Total liabilities and net assets/fund balances (see instructions).	30,471,347	35,465,055

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

30,471,347

Enter amount from Part I, line 27a .....................

4,993,708

Other increases not included in line 2 (itemize) right arrow

Add lines 1, 2, and 3 ..........................

35,465,055

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

35,465,055

Form 990-PF (2024)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,301,076	2,106,172	194,904
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			194,904
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	194,904
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 ...................		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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	22,648
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	22,648
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	22,648
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	10,000
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	10,000
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 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.......		9	12,648
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax	Refunded	11

Form 990-PF (2024)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

The books are in care of right arrow

Foundation Source Telephone no. right arrow

(800) 839-1754

Located at right arrow

501 Silverside Road Suite 123WilmingtonDE ZIP+4 right arrow

198091377

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2024)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
Jenni Krupiarz	Dir, Sec 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Sec 1.0	0	0	0
Angela M Larson	Dir, VP, Treas 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, VP, Treas 1.0	0	0	0
Jeffrey Stephens	Dir, Pres 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Pres 1.0	0	0	0
Jo Lee Stephens	Dir 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir 1.0	0	0	0

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










Total number of other employees paid over $50,000...................

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
Foundation Source	Administrative	67,035
55 Walls Drive 3rd Fl Fairfield,CT06824	Administrative	67,035
The Kwon Gallop Group	Investment MGMT	63,308
211 Fulton St PEORIA,IL61602	Investment MGMT	63,308

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2024)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

40,148,415

Average of monthly cash balances.......................

4,801,983

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

44,950,398

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

44,950,398

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

674,256

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

44,276,142

Minimum investment return. Enter 5% (0.05) of line 5................

2,213,807

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.)

Minimum investment return from Part IX, line 6..................

2,213,807

Tax on investment income for 2024 from Part V, line 5 .......

22,648

Income tax for 2024. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

22,648

Distributable amount before adjustments. Subtract line 2c from line 1............

2,191,159

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

2,191,159

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

2,191,159

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

1,515,186

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

1,515,186

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7				2,191,159
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......			1,438,596
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: $ 1,515,186
a Applied to 2023, but not more than line 2a			1,438,596
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.....				76,590
e Remaining amount distributed out of corpus		0
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		0
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 ..........				2,114,569
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 ......		0
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....	0

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

JEFFREY STEPHENS

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
CLEVELAND CLINIC FOUNDATION PO BOX 931517 CLEVELAND,OH44193	N/A	PC	Dr. Eric Roselli's aorta and high-risk surgery research	250,000
EASTERSEALS CENTRAL ILLINOIS 507 E ARMSTRONG AVE PEORIA,IL61603	N/A	PC	EasterSeals Centennial Campaign Fund	50,000
JOHNS HOPKINS UNIVERSITY 600 N WOLFE ST MARBURG 135 BALTIMORE,MD21287	N/A	PC	Brady Urology - SLICE Fund	500,000
SAVANNAH BOOK FESTIVAL INC 37 W FAIRMONT AVE STE 216 SAVANNAH,GA31406	N/A	PC	General & Unrestricted	10,000
UNIVERSITY OF WISCONSIN FOUNDATION US BANK LOCKBOX 78807 MILWAUKEE,WI53278	N/A	PC	Football Indoor Practice Facility Fund	600,000
UNIVERSITY OF WISCONSIN STEVENS POINT FOUNDATION I 2100 MAIN ST 134 STEVENS POINT,WI54481	N/A	PC	Stephens Family Black Bear Research Endowment Fund	37,825
Total ................................. 3a				1,447,825

bApproved for future payment

Total ................................. 3b

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	(e) Related or exempt function income (See instructions.)
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	210,259
4 Dividends and interest from securities ....			14	1,288,435
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	194,904
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) ..				1,693,598

13Total. Add line 12, columns (b), (d), and (e)..................

1,693,598

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

The Gerald D and Helen M Stephens
Foundation

Employer identification number

37-1224611

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization The Gerald D and Helen M Stephens Foundation

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	Gerald D Stephens Marital Trust c/o Angie Larson PO Box 469 Morton, IL61550	$ 3,400,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	Helen M Stephens Irrevocable Trust c/o Angie Larson PO Box 469 Morton, IL61550	$ 1,500,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization The Gerald D and Helen M Stephens Foundation		Employer identification number 37-1224611

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization The Gerald D and Helen M Stephens Foundation			Employer identification number 37-1224611
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

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

TY 2024 DepreciationSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

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

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AIR LEASE CORP MTN - 3.250% -	49,955	51,685
AMERICAN ELEC PWP - 5.625% - 0	51,322	51,557
AMERICAN TOWER CORP - 2.400% -	28,466	29,842
AMGEN INC - 2.600% - 08/19/202	43,606	44,488
ANTHEM INC NOTE - 2.250% - 05/	870	869
ANTHEM INC NOTE - 4.101% - 03/	10,524	10,757
ARES CAPITAL CORP - 2.875% - 0	35,355	38,040
B A T INTL FIN PLC - 1.668% -	1,855	1,924
BANK AMER CORP - 3.559% - 04/2	49,971	51,170
BANK NEW YORK MELLON CORP - 4.	3,947	3,969
BAT CAPITAL CORP MTN CALL MAKE	50,396	53,287
BK OF AMERICA CORP SER - 3.593	1,874	1,936
BK OF AMERICA CORP SER N MTN -	49,420	51,421
BOEING CO - 2.750% - 02/01/202	18,744	19,509
BOEING CO NOTE CALL MAKE WHOLE	49,746	51,397
BP CAP MARKETS - 3.119% - 05/0	51,972	53,036
BP CAP MKTS AMER INC - 0.000%	24,026	23,693
BRIXMOR OPERATING PARTNERSHIP	33,971	34,046
BROADCOM INC - 4.350% - 02/15/	51,744	51,570
CANADIAN NATL RY CO - 2.750% -	37,249	37,238
CAPITAL ONE FINANCIAL CORP FXD	2,040	1,994
CAPITAL ONE FINL CORP - 7.149%	76,080	76,793
CAPITAL ONE FINL CORP NOTE - 5	27,783	28,192
CHARLES SCHWAB CORP - 4.000% -	24,639	25,173
CHENIERE CORPUS CHRISTI HLDGS	51,146	51,278
CIGNA CORP - 4.375% - 10/15/20	23,426	23,519
CIGNA CORP NEW SER C NOTE - 3.	15,127	15,557
CITIGROUP - 3.520% - 10/27/202	49,663	51,005
CITIGROUP INC - 3.070% - 02/24	25,002	25,001
CITIGROUP INC - 5.610% - 09/29	39,991	40,217
COREBRIDGE FINL INC - 3.850% -	14,075	14,329
CROWN CASTLE INC - 3.100% - 11	16,359	16,371
CROWN CASTLE INT - 1.350% - 07	25,822	27,463
DELL INTL LLC - 5.400% - 04/15	51,365	50,890
DISCOVER FINL SVCS NOTE - 4.50	30,781	31,865
DISNEY WALT CO - 1.750% - 01/1	41,458	42,823
DISNEY WALT CO - 2.000% - 09/0	9,506	9,785
DTE ENERGY CO - 1.050% - 06/01	29,493	31,506
DUKE ENERGY - 6.100% - 09/15/2	49,214	50,852
EDISON CO - 5.850% - 11/01/202	3,079	3,085
EDISON INTL - 5.750% - 06/15/2	25,028	25,415
EDISON INTL NOTE - 6.950% - 11	25,434	25,625
ELEVANCE HEALTH INC - 5.350% -	28,942	29,116
ENABLE MIDSTREAM PARTNERS LP N	50,294	51,497
ENTERPRISE PRODUCTS OPER LLC -	2,009	2,010
EQUINIX INC - 2.150% - 07/15/2	1,771	1,721
EQUITABLE HLDGS INC SER B NOTE	55,771	56,828
ESSEX PORTFOLIO - 3.500% - 04/	19,319	19,931
ESSEX PORTFOLIO - 4.000% - 03/	21,123	21,150
EVERSOURCE ENERGY - 4.600% - 0	19,692	19,861
EXTRA SPACE - 4.000% - 06/15/2	50,412	51,672
FHLMC 30 YR GOLD SD8349 - 5.50	21,925	21,922
FOX CORP SER B - 4.709% - 01/2	25,003	25,698
GLOBAL PAYMENTS INC - 3.200% -	45,264	45,824
GLOBAL PAYMENTS INC NOTE - 2.6	28,622	29,906
GOLDMAN SACHS GROUP INC - 6.75	51,527	51,592
HCA INC - 5.500% - 06/15/2047	51,392	51,006
HEWLETT PACKARD ENTERPRISE CO	52,615	51,685
HOME DEPOT - 1.500% - 09/15/20	33,252	34,872
HOME DEPOT INC - 3.350% - 09/1	5,794	5,949
HOWMET AEROSPACE INC NOTE - 3.	9,472	9,281
JEFFERIES FINALNCIAL - 5.875%	20,536	20,455
JOHN DEERE CAPITAL CORP - 3.35	3,743	3,795
JOHN DEERE CAPTAL CORP - 3.400	4,830	4,959
JPMORGAN CHASE & CO - 2.005% -	54,744	55,676
JPMORGAN CHASE & CO NOTE - 4.0	3,925	3,990
KENVUE INC - 5.050% - 03/22/20	7,160	7,082
KILROY RLTY - 4.750% - 12/15/2	15,176	15,614
LAZARD LLC - 4.375% - 03/11/20	28,121	29,222
MICRON TECHNOLOGY INC - 4.663%	35,086	35,140
MICRON TECHNOLOGY INC - 4.975%	9,842	10,011
MICRON TECHNOLOGY INC - 5.327%	29,336	30,144
MPLX LP - 2.650% - 08/15/2030	27,997	28,001
MYLAN NV SER B - 5.250% - 06/1	49,707	51,415
NISOURCE INC - 3.600% - 05/01/	1,840	1,865
NXP B V / NXP FDG LLC / NXP US	41,147	42,719
NXP BV/NXP - 3.400% - 05/01/20	33,061	33,068
OHIO PWR CO SER P - 2.600% - 0	23,090	23,033
ORACLE CORP - 3.600% - 04/01/2	51,053	51,189
PACCAR FINANCIAL CORP - 4.000%	27,428	27,087
PACIFICORP BOND - 3.500% - 06/	1,863	1,882
PHILIP MORRIS INTL INC - 2.100	6,797	6,915
PNC FINL SVCS GROUP INC - 4.75	3,956	3,994
REINSURANCE GROUP - 3.900% - 0	22,606	22,925
RELX CAPITAL INC - 4.000% - 03	1,938	1,930
RELX CAPITAL INC NOTE 3.0% 05/	9,054	9,082
SABINE PAS - 5.000% - 03/15/20	43,078	43,088
SABINE PASS LIQUEFACTION - 5.6	997	1,000
SAN DIEGO GAS &ELEC CO SER VVV	840	839
SANTANDER HOLDINGS USA INC - 2	54,198	56,896
SCHWAB CHARLES CORP - 5.643% -	25,898	26,528
SEMPRA NOTE - 3.300% - 04/01/2	19,270	19,922
SEMPRA NOTE CALL - 3.700% - 04	22,017	22,798
SERVICENOW INC - 1.400% - 09/0	8,323	8,310
SOUTHERN CALIF - 2.850% - 08/0	5,433	5,476
SOUTHWEST AIRLS CO - 5.125% -	34,734	35,159
T MOBILE USA INC NOTE - 3.375%	30,580	30,801
TRUIST FINL CORP - 7.161% - 10	51,064	51,340
UNIFORM MBS - 5.000% - 07/01/2	71,215	71,196
UNIFORM MBS POOL - 5.000% - 11	36,016	35,537
US BANCORP - 5.830% - 06/12/20	51,899	50,997
US BANCORP SER CC - 6.787% - 1	40,220	40,324
VALERO ENERGY CORP BD - 6.625%	52,476	51,401
VALERO ENERGY PARTNERS LP - 4.	55,187	55,203
VENTAS RLTY - 4.400% - 01/15/2	1,966	1,947
VMWARE INC - 3.900% - 08/21/20	20,700	21,504
WEC ENERGY GROUP INC - 5.000%	1,982	2,003
WELLS FARGO &CO - 2.879% - 10/	51,611	51,438
WELLS FARGO - 2.393% - 06/02/2	24,379	25,326
WRKCO INC SER B - 4.900% - 03/	9,609	9,937
ZIMMER BIOMET HOLDINGS INC - 3	22,750	23,627

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABS	18,949	21,152
ABBVIE INC	36,407	37,672
ACCENTURE PLC	11,629	12,987
ACI WORLDWIDE INC	3,286	4,941
ADOBE SYSTEMS, INC	9,358	8,231
AIA GROUP LTD ADR	4,588	4,092
AIRBNB	8,364	8,087
AKZO NOBEL NV-ADR	19,317	17,017
ALCON INC	9,852	9,847
ALIBABA GROUP HOLDING LTD	8,464	8,173
ALLEGION PLC	8,157	9,045
ALLIANZ SE	4,252	4,947
ALPHABET INC CL A	56,692	67,391
ALSTOM	27,773	29,306
AMADEUS IT HLDS SA	2,439	2,479
AMAZON COM	41,305	60,113
AMDOCS LIMITED	8,961	9,706
AMER FIN GRP HLD	8,885	9,908
AMERICAN EXPRESS CO	22,366	30,866
AMERICOLD REALTY TRUST	12,271	9,865
AMGEN INC	20,451	19,731
AMICUS THERAPEUTICS INC	3,941	3,193
ANHEUSER BUSCH COS INC	13,482	12,367
AON PLC CL A	22,542	24,034
APPLE INC	31,488	39,316
APPLIED IDNS TECH	3,111	3,281
APPLIED MATERIALS INC	14,680	13,698
ARCELORMITTAL	9,137	9,113
ARGENX SE	8,944	10,582
ASML HOLDING NV NY REG SHS	13,409	13,675
ASTRAZENECA	33,803	32,826
ATMOS ENERGY CORP	8,618	9,949
AUTONATION INC	15,117	16,246
AUTOZONE INC	19,744	23,647
AVIDITY BIOSCIENCES, INC.	2,032	1,562
AVIENT	2,395	2,479
AXA ADS	7,518	8,361
BANCO BRADESCO S.A. SPONS ADR	2,350	1,656
BARCLAYS PLC ADR	19,426	27,245
BARRICK GOLD CORPORATION	4,720	4,077
BERKELEY GROUP HLDGS	5,065	4,167
BILL COM HOLDINGS	2,493	2,456
BLUE OWL CAPITAL	18,041	21,911
BNP PARIBAS SPONS ADR	7,767	7,583
BOK FINANCIAL CORP	8,003	9,758
BOOKING HOLDINGS INC	5,795	9,415
BP PLC SPONSORED ADR	17,697	15,312
BRAZE, INC	3,716	3,212
BRINKS CO	2,834	2,546
BRITISH AMERICAN TOBACCO PLC	7,649	8,281
BUILDERS FIRST SOURCE INC	14,310	12,936
BWX TECHNOLOGIES INC	8,191	10,699
BYD CO LTD UNSP/ADR	2,469	2,383
CABOT CP	1,754	1,651
CANADIAN NATURAL RESOURCES LTD	14,659	14,385
CANADIAN PACIFIC RAILWAY LTD	19,868	18,889
CAPITEC BANK HLDGS	3,551	4,912
CARREFOUR S.A	7,212	5,849
CBOE HOLDINGS INC	8,422	10,009
CENCORA INC	27,760	30,332
CENOVUS ENERGY INC	19,862	17,074
CENTERPOINT ENERGY	17,432	18,752
CHAMPIONX CORP	4,240	3,399
CHARLES RIV LABORATORIES INTL	10,465	9,911
CHECK POINT SOFTWARE TECHNOLOG	5,493	5,702
CHEWY INC	4,786	5,626
CHINA MERCHANTS BANK	4,830	5,631
CHUBB LIMITED	9,718	11,595
CIGNA CORPORATION	3,335	3,285
COCA COLA EUROPEAN PARTNERS PL	8,700	9,985
COMPAGNIE DE SAINT G	12,605	13,173
COMPASS GROUP PLC ADR	3,519	4,132
CONFLUENT, INC	2,939	3,104
CONOCOPHILLIPS	28,510	25,586
CORPAY INC	21,445	24,465
COSAN ADR REPRESENTING	1,891	805
CRH PLC - AMERICAN DEPOSITARY	22,352	29,329
CRINETICS PHARMACEUTICALS INC	1,941	2,376
CURTISS WRIGHT CP	4,865	6,534
DECKERS OUTDOOR CORPORATION	4,446	7,294
DEERE CO	12,358	13,023
DELL TECHNOLOGIES INC CLASS C	12,196	16,018
DELTA AIR LINES INC	17,657	17,666
DENTSPLY SIRONA INC	13,428	9,813
DEUTSCHE TELE AG ADS	9,277	11,552
DIAGEO PLC ADS	15,608	14,111
DIAMONDBACK ENERGY INC	30,223	28,343
DISCOVER FINL SVCS COM	26,631	31,008
DOCUSIGN INC	4,578	5,513
DOLBY LABORATORIES	15,620	14,917
DORMAN PRODUCTS INC	3,104	3,266
DOXIMITY ORD SHS CLASS A	1,608	1,585
DR ING H C F PORSCHE AG ADR	2,622	2,484
EATON CORP PLC	12,225	15,422
EATON VANCE HIGH INCOME OPPORT	622,426	638,176
ELASTIC NV	2,615	2,394
ELI LILLY & CO	12,055	13,765
EMCOR GROUP INC	6,461	8,990
EMERSON ELECTRIC CO	17,950	19,581
ENEL SOCIETA PER AZI	14,310	14,967
ENTEGRIS INC	6,767	6,394
EPAM SYSTEMS INC	10,357	11,231
EQT CORPORATION	3,968	4,319
EQUINIX, INC	14,475	16,565
ESSENTIAL UTILITIES INC	10,103	9,952
ETSY INC	4,956	4,027
EURONET WORLDWIDE INC	8,812	9,713
EXLSERVICE HOLDINGS INC	2,677	3,277
EXPEDIA INC	8,959	10,643
EXPEDITORS INTL WASH INC	10,276	9,886
FANUC LIMITED UNSPONSORED	14,019	13,353
FIDELITY NATIONAL FINANCIAL IN	7,720	9,825
FIDELITY NATIONAL INFORMATION	27,590	29,400
FIRST ENERGY CORP	20,308	20,765
FLEXTRONICS INTERNATIONAL	19,610	23,648
FORTIVE CORPORATION	18,647	18,225
FUJITSU LTD ADR OTC	9,976	10,922
GALLAGHER ARTHUR J & CO	8,548	9,833
GEN DYNAMICS CP	17,872	18,868
GENTEX CORPORATION	10,643	9,797
GITLAB INC	6,113	7,100
GLOBANT SA	4,442	4,857
GODADDY INC	6,595	10,659
GOLDMAN SACHS GROUP	10,868	14,819
GRACO INC	3,915	4,126
GRAINGER W W INC	15,988	19,451
GROUPE DANONE ADS	6,116	6,655
GRUPO FIN ADR	3,035	2,371
GSK PLC	14,833	14,001
HAMILTON LANE INC	3,399	4,078
HDFC BANK LTD ADR	11,355	11,431
HEIDELBERGCEMENT AG UNSPONSORE	3,344	3,209
HEINEKEN N V S ADR	8,629	7,430
HEWLETT PACKARD ENTERPRISE CO	13,154	12,959
HF SINCLAIR CORPORATION	11,377	10,165
HOLOGIC, INC	14,963	14,058
HOME DEPOT INC	17,637	18,954
HONEYWELL INTL	37,049	39,079
HOULIHAN LOKEY INC	4,435	4,952
HUBBELL INCORPORATED	5,621	6,467
HUBSPOT INC	7,748	9,618
HUMANA INC	3,301	3,278
HUNT J B	10,191	9,941
HUNTINGTON BANCSHARES INC	22,054	25,528
HYATT HOTELS CORP	6,182	7,382
ICICI BK LTD ADS	7,880	8,958
ICON PLC - AMERICAN DEPOSITARY	3,358	3,278
IDEAYA BIOSCIENCES	4,900	3,341
IMMUNOCORE HLDGS PLC	4,006	2,526
INARI MEDICAL INC	3,733	3,159
INCYTE CORPORATION	9,357	9,877
INFINEON TECH ADS	14,463	12,907
ING GROUP N V SPONSORED ADR	8,137	8,321
INNOVATIVE INDUSTRIAL PROPERTI	12,764	9,463
INSMED INC COM DE	3,847	4,046
INTERCONTINENTAL EXCHANGE, INC	13,773	16,391
INTUIT	15,288	16,264
INTUITIVE SURGICAL	11,124	16,166
IPG PHOTONICS CORP	11,636	9,526
ISHARE SP SMALL CAP 600 INDEX	691,061	754,000
JACOBS SOLUTIONS INC	17,098	18,840
JD.COM, INC	3,064	3,185
JFROG	4,746	4,823
JOHNSON & JOHNSON	3,307	3,298
JP MORGAN CHASE	39,687	87,254
JULIUS BAER GROUP LTD	5,185	5,782
KBR INC	11,594	10,717
KENVUE INC	23,893	23,699
KERING UNSPON ADR EA REPR 0.1	33,399	26,650
KEYSIGHT TECHNOLOGIES INC	16,420	17,027
KINGFISHER PLC	6,566	6,550
KINROSS GOLD CORP	12,193	13,080
KNIGHT SWIFT TRANSPORTATION HO	2,413	2,483
KONINKLIJKE PHILIPS ELECTRONIC	12,830	13,951
L'AIR LIQUIDE ADR OTC	3,561	3,322
LAMB WESTON HOLDINGS INC	12,097	10,158
LATTICE SEMICONDUCTOR	6,530	4,665
LEGAL & GENERAL GROUP	6,527	6,694
LEIDOS HOLDINGS INC	15,046	18,872
LENNAR CORP	15,240	13,773
LENNOX INTL INC	5,471	5,635
LI NING CO	1,597	1,584
LINCOLN ELECTRIC HOLDING INC	14,031	13,931
LITTELFUSE, INC	10,474	9,858
LPL FINANCIAL HOLDINGS INC	29,289	34,284
MADRIGAL PHARMACEUTICALS	2,798	3,287
MAGNOLIA OIL + GAS CORPORATION	10,016	10,124
MAKEMYTRIP LIMITED	2,388	2,429
MANHATTAN ASSOCIATES INC	6,023	6,441
MARATHON PETROLEUM CORP	19,539	18,833
MARSH AND MCLENNAN COMPANIES I	12,543	13,209
MARTIN CURRIE SMA-SHARES SERIE	105,753	97,466
MASCO CORP	17,185	19,666
MAXIMUS INC	10,793	10,227
MCKESSON CORP	24,557	27,872
MEDTRONIC PLC	3,320	3,263
MEITUAN DIANPING UNSPONSORED A	5,859	6,404
META PLATFORMS INC	33,684	49,319
MGM RESORTS INTERNATIONAL	8,384	7,415
MICROCHIP TECHNOLOGY INC	19,276	14,567
MICRON TECHNOLOGY	24,626	23,565
MICROSOFT CORP	21,421	56,060
MINTH GROUP UNSPONSORED ADR RE	1,522	1,659
MODINE MFG CO	1,665	1,629
MOLINA HEALTHCARE	10,415	9,828
MONGODB INC CL A	7,758	5,620
MONSTER BEVERAGE CORP	12,355	11,668
MORGAN STANLEY	21,629	27,156
MUELLER IND INC	3,668	4,112
MURATA MFG INC UNSP/ADR	6,777	5,953
MURPHY USA INC	5,708	5,690
NATIONAL RETAIL PROPERTIES INC	9,858	10,008
NATWEST GROUP ADR REPRESENTING	1,974	2,471
NETFLIX INC	20,151	31,489
NEUROCRINE BIOSCIENCES, INC	6,468	7,405
NEW YORK TIMES CO CL A	6,556	7,287
NEXTERA ENERGY, INC	13,240	13,119
NICE SYSTEMS LTD	12,557	12,078
NINTENDO CO LTD ADR UNSPON	8,450	9,129
NORDSON CP	5,475	4,898
NORFOLK SOUTHERN CORP	27,356	26,286
NOVO NORDISK A S	3,355	3,280
NVIDIA CORP	39,158	72,248
NXP SEMICONDUCTORS	9,753	8,782
OMNICOM GROUP	16,102	16,434
OPTION CARE HEALTH INC	2,226	1,690
ORACLE CORP	34,950	43,660
PACKAGING CORP AMER	7,136	9,824
PALO ALTO NETWORKS INC	11,718	16,115
PATRICK IND INC	2,701	2,453
PAYPAL HOLDINGS, INC	10,981	14,424
PHILIP MORRIS INTL	33,178	38,632
PHILLIPS 66	7,789	6,791
PING AN INSURANCE GROUP ADR	4,708	4,842
PINNACLE WEST CAPITAL CORP	8,763	9,833
POWER INTEGRATIONS, INC	3,978	3,234
PPL CORPORATION	18,283	17,431
PROCEPT BIOROBOTICS	2,300	2,372
PROCORE TECHNOLOGIES INC	5,528	5,626
PRUDENTIAL PLC SC	17,220	13,963
PSZKY	2,604	2,490
PT BANK NEGARA INDONESIA	2,832	2,476
PT BANK RAKYAT ADR	4,977	4,005
QUEST DIAGNOSTICS	9,003	9,857
RAYTHEON TECHNOLOGIES CORP	10,005	12,266
RECKITT BENCKISER GROUP	23,734	22,405
REINSURANCE GROUP AMER INC	7,270	10,031
RELX PLC	6,178	7,403
RENESAS ELECTRONICS CORP	21,612	17,387
RLI CORP	19,081,439	34,371,504
ROBERT HALF INTL INC	13,568	13,881
ROCHE HOLDING LTD ADR	16,885	16,603
ROLLS ROYCE GRP PLC S/ADR	16,145	25,156
RWE AKTIENGESELLSCHAF	3,771	3,300
S&P GLOBAL INC COM	13,219	15,650
SALESFORCE.COM	18,731	24,403
SANOFI-AVENTIS SPONSORED ADR	15,036	14,807
SAP AKTIENGESELL ADS	10,421	14,579
SAREPTA THERAPEUTICS INC	5,219	4,945
SCHLUMBERGER LTD	30,172	24,538
SHERWIN-WILLIAMS CO	12,635	14,752
SHINHAN FINL GROUP CO LTD	3,771	3,254
SMC CORPORATION	8,959	8,159
SMITH & NEPHEW PLC ADR	4,609	4,179
SMITH A O CORP DEL COM	6,120	5,772
SMURFIT	17,514	19,713
SOCIETE GENERLE FRNCE ADR	3,262	3,334
SODEXHO ALLIANCE SA SP ADR	4,290	4,197
SPORTRADAR GROUP AG	6,450	6,745
SPRINGWORKS THERAPEUTICS INC	4,460	4,841
SPROUTS FARMERS MARKET INC	3,439	4,052
STANDARD CHARTERED	6,719	8,258
STARBUCKS CORP COM	4,236	4,148
STIFEL FINANCIAL CP	5,374	7,452
STRYKER CORPORATION	10,863	12,992
SUN COMMUNITIES OPER LP SR GLO	10,075	10,070
SYSCO CORP	33,389	33,107
T-MOBILE US INC	14,298	18,890
TAIWAN SEMICONDUCTOR MFG CO LT	41,105	50,360
TAKEDA PHARMACEUTICAL COMPANY	2,668	2,502
TAPESTRY INC	6,497	9,865
TARGET CORPORATION	15,329	14,059
TECK RESOURCES LIMITED	17,389	16,415
TENCENT HOLDINGS LIMITED	25,894	30,206
TESLA MOTORS INC	10,517	15,396
TEXAS ROADHOUSE, INC	4,778	4,935
THERMO FISHER SCIENTIFIC INC	16,576	16,468
TOPBUILD CORP	3,979	4,150
TORO CO	11,329	9,852
TRIMBLE NAV LTD	11,040	12,224
TRIP COM GROUP ADR	3,357	3,899
TYLER TECHNOLOGIES, INC	9,467	12,068
UBER	28,630	28,531
UNICREDIT SPA	9,899	12,607
UNION PACIFIC	12,259	12,376
UNITED CONTINENTAL HOLDINGS IN	16,529	18,352
UNITED OVRSEAS BK LTD ADR	6,350	7,468
UNITED RENTALS INC	10,332	12,929
UNITEDHEALTH GROUP INC	55,603	56,657
US FOODS HOLDING CORPORATION	20,765	27,928
VALVOLINE INC	2,734	2,450
VANGUARD GROWTH ETF	624,585	800,358
VANGUARD VALUE ETF	1,595,899	1,762,412
VERRA MOBILITY CORPORATION	3,850	3,361
VIKING THERAPEUTICS INC	1,332	785
VISA INC	32,031	39,189
VISHAY INTERTECH	7,351	7,149
WAL-MART DE MEX V SP/ADR	3,383	2,372
WALT DISNEY HOLDINGS CO	19,221	18,818
WATERS CORP	8,277	9,948
WEG SA BRAZIL SPONSORED ADR	4,566	5,329
WELLS FARGO & CO	18,836	25,357
WESTINGHOUSE AIR BRAKE TECHNOL	14,557	20,286
WEX, INC	10,485	10,169
WILLSCOT MOBILE MINI CL A	11,230	9,834
WINGSTOP INC	6,132	7,329
WINTRUST FINANCIAL CORPORATION	4,656	5,799
WORKDAY INC	14,910	15,278
XENON PHARMACEUTICALS	2,464	2,530
ZOETIS INC	12,399	11,498

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

US Government Securities - End of Year Book Value:

1,236,950

US Government Securities - End of Year Fair Market Value:

1,213,972

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

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

- TIN:

TY 2024 OtherExpensesSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	67,035		67,035
Bank Charges	96	96
Registered Agent Fee	269		269
State or Local Filing Fees	57		57

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	63,308	63,308

- TIN:

TY 2024 TaxesSchedule

Name:

The Gerald D and Helen M Stephens

Foundation

EIN:

37-1224611

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2024	10,000
990-PF Excise Tax for 2023	10,467
Foreign Tax Paid	833	833