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 WALT AND LILLY DISNEY FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)CO BAKER TILLY 50 FREMONT ST FL 4
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
SAN FRANCISCO, CA94105

A Employer identification number

23-7425637

B Telephone number (see instructions)

(415) 453-0883

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

$154,363,972J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	4,604,682		4,613,778
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		5,304,953
b	Gross sales price for all assets on line 6a 45,706,854
7	Capital gain net income (from Part IV, line 2)...			5,273,777
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).......	List of Attached Documents: // Content	19,273	468,551
12	Total. Add lines 1 through 11........	9,928,908		10,356,106
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).........	List of Attached Documents: // Content	3,997	400	302
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	174,753	17,475	155,577
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	615,456	608,200	7,256
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	117,696	47,035	0
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	9,181	157,931	918
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	921,083		831,041	164,053
25	Contributions, gifts, grants paid.......	8,940,538			9,168,075
26	Total expenses and disbursements. Add lines 24 and 25	9,861,621		831,041	9,332,128
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	67,287
b	Net investment income (if negative, enter -0-)			9,525,065
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	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.........	4,018,753	3,042,057	3,042,057
	3	Accounts receivable
		Less: allowance for doubtful accounts	61,554
	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)	1,985,767	List of Attached Documents: // Content 3,988,330	3,988,330
	b	Investments—corporate stock (attach schedule).......	72,720,312	List of Attached Documents: // Content 71,869,145	71,869,145
	c	Investments—corporate bonds (attach schedule).......	27,886,463	List of Attached Documents: // Content 23,110,852	23,110,852
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	46,571,509	List of Attached Documents: // Content 52,353,588	52,353,588
	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)	153,244,358	154,363,972	154,363,972
	17	Accounts payable and accrued expenses..........	7,670	13,221
	18	Grants payable.................	1,066,207	838,670
	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 )	List of Attached Documents: // Content 367,838	List of Attached Documents: // Content 385,499
	23	Total liabilities (add lines 17 through 22).........	1,441,715	1,237,390
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	151,802,643	153,126,582
	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
	29	Total net assets or fund balances (see instructions).....	151,802,643	153,126,582
	30	Total liabilities and net assets/fund balances (see instructions).	153,244,358	154,363,972

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

151,802,643

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

67,287

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

List of Attached Documents:

// Content

1,256,652

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

153,126,582

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 .

153,126,582

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	SHERPAEVEREST FUND, LP	P	2024-01-01	2024-12-31
c	FORESITE CAPITAL FUND V, LP	P	2024-01-01	2024-12-31
d	TVM LIFE SCIENCE INNOVATION II SCSP	P	2024-01-01	2024-12-31
e	SHERPAVENTURES FUND II, LP	P	2024-01-01	2024-12-31
	FORESITE CAPITAL OPPORTUNITY FUND V, LP	P	2024-01-01	2024-12-31
	FORESITE CAPITAL FUND IV, L.P.	P	2024-01-01	2024-12-31
	FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP	P	2024-01-01	2024-12-31
	BLACKSTONE REAL ESTATE INCOME TRUST, INC.	P	2024-01-01	2024-12-31

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	45,531,081	40,224,115	5,306,966
b	102,580		102,580
c	1,236		1,236
d		28,263	-28,263
e		130,980	-130,980
		7,565	-7,565
		40,141	-40,141
	71,957		71,957
		2,013	-2,013

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			5,306,966
b			102,580
c			1,236
d			-28,263
e			-130,980
			-7,565
			-40,141
			71,957
			-2,013

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	5,273,777
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	132,398
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	132,398
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	132,398
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	109,819
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	39,000
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	148,819
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
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	16,421
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax16,421	Refunded	11	0

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

$ 0(2) On foundation managers. right arrow

$ 0

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

on foundation managers. right arrow

$ 0

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

N/A

The books are in care of right arrow

THE FOUNDATION Telephone no. right arrow

(415) 453-0883

Located at right arrow

C/O BAKER TILLY 50 FREMONT ST FL 40SAN FRANCISCOCA ZIP+4 right arrow

94105

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)

(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)

Yes

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

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

Yes

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

List of Attached Documents:

// Content

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
WALTER ED MILLER	PRESIDENT 3.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	PRESIDENT 3.00	0	0	0
CHRISTOPHER D MILLER	VICE PRESIDENT/TREASURER 1.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	VICE PRESIDENT/TREASURER 1.00	0	0	0
TAMARA D MILLER	SECRETARY 1.00	0	0	0
C/O BAKER TILLY 50 FREMONT ST FL 40 SAN FRANCISCO,CA94105	SECRETARY 1.00	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
NONE









Total number of other employees paid over $50,000...................				0

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
SEILER LLP	ACCOUNTING SERVICES	67,790
3 LAGOON DRIVE STE 400 REDWOOD CITY,CA94065	ACCOUNTING SERVICES	67,790
BAKER TILLY	ACCOUNTING SERVICES	57,873
PO BOX 7398 MADISON,WI53707	ACCOUNTING SERVICES	57,873

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

103,005,651

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

1,406,488

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

52,353,588

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

156,765,727

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

156,765,727

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

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

2,351,486

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

154,414,241

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

7,720,712

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

7,720,712

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

132,398

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

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

132,398

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

7,588,314

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

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

7,588,314

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

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

7,588,314

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 ..........

9,332,128

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. .......

9,332,128

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					7,588,314
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......	409,396
b From 2020......
c From 2021......
d From 2022......	914,079
e From 2023......	4,428,109
f Total of lines 3a through e ........		5,751,584
4Qualifying distributions for 2024 from Part
XI, line 4: $ 9,332,128
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.....					7,588,314
e Remaining amount distributed out of corpus		1,743,814
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		7,495,398
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) ...		409,396
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		7,086,002
10 Analysis of line 9:
a Excess from 2020....
b Excess from 2021....
c Excess from 2022....	914,079
d Excess from 2023....	4,428,109
e Excess from 2024....	1,743,814

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).)

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
WALT DISNEY FAMILY FOUNDATION 104 MONTGOMERY SAN FRANCISCO,CA94129	N/A	POF	EDUCATION - ARTS	700,000
THE WALT DISNEY FAMILY MUSEUM 104 MONTGOMERY SAN FRANCISCO,CA94129	N/A	PC	EDUCATION - ARTS	7,513,075
RESEARCH TO PREVENT BLINDNESS 645 MADISON AVENUE 21ST FLOOR NEW YORK,NY10022	N/A	PC	AMBLYOPIA RESEARCH	150,000
WALT DISNEY MAGNET SCHOOL 4140 NORTH MARINE DRIVE CHICAGO,IL60613	N/A	GOV	EDUCATION - ARTS	200,000
JOHN TRACY CLINIC 806 WEST ADAMS BOULEVARD LOS ANGELES,CA90007	N/A	PC	MEDICAL/HEARING LOSS	25,000
LA PHILHARMONIC ASSOCIATION 135 N GRAND AVENUE LOS ANGELES,CA90012	N/A	PC	ARTS	250,000
WALT DISNEY ELEMENTARY SCHOOL 200 LAKESIDE DRIVE NORTH LEVITTOWN,PA19054	N/A	GOV	EDUCATION	10,000
CALIFORNIA INSTITUTE OF THE ARTS 24700 MCBEAN PARKWAY SANTA CLARITA,CA91355	N/A	PC	ARTS	300,000
HYPERION HISTORICAL ALLIANCE PO BOX 22602 BAKERSFIELD,CA93390	N/A	PC	HISTORY	20,000
Total ................................. 3a				9,168,075

bApproved for future payment
CALIFORNIA INSTITUTE OF THE ARTS 24700 MCBEAN PARKWAY SANTA CLARITA,CA91355	N/A	PC	ARTS	900,000
Total ................................. 3b				900,000

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 ...........
4 Dividends and interest from securities ....			14	4,604,682
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....			18	19,273
8 Gain or (loss) from sales of assets other than inventory ............			18	5,304,953
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		9,928,908	0

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

9,928,908

(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:

TY 2024 AccountingFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ADMINISTRATION	143,753	14,375		127,677
AUDITING	31,000	3,100		27,900

- TIN:

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

TY 2024 ExpenditureResponsibilityStmt

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
WALT DISNEY FAMILY FOUNDATION	104 MONTGOMERY ST SAN FRANCISCO,CA94129	2024-01-01	700,000	GENERAL OPERATING SUPPORT	700,000	NO	1/31, 2/29, 3/31, 4/30, 5/31, 6/30, 7/31, 8/31, 9/30, 10/31, 11/30, 12/31	2024-12-31	ALL EXPENDITURES WERE MADE FOR PROPER PURPOSES.

- TIN:

TY 2024 InvestmentsCorpBondsSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMAZON.COM INC	202,097	202,097
AMERICAN EXPRESS CO	596,570	596,570
AMERICAN HONDA FINANCE CORP	675,067	675,067
AMERICAN TOWER CORP	192,362	192,362
ANHEUSER-BUSCH INBEV WORLDWIDE INC	204,197	204,197
APPLE INC	191,568	191,568
BANK OF AMERICA CORP	1,394,020	1,394,020
BANK OF MONTREAL	560,424	560,424
BANK OF NOVA SCOTIA	301,904	301,904
BRISTOL-MYERS SQUIBB CO	594,827	594,827
CAPITAL ONE FINANCIAL CORP	147,176	147,176
CATERPILLAR FINANCIAL SERVICES CORP	740,995	740,995
CHARLES SCHWAB CORP	588,955	588,955
CITIGROUP INC	845,638	845,638
COMCAST CORP	196,832	196,832
CONSOLIDATED EDISON CO OF NEW YORK INC	593,943	593,943
CSX CORP	194,268	194,268
CVS HEALTH CORP	182,210	182,210
DUKE ENERGY CORP	194,412	194,412
ENERGY TRANSFER LP	138,059	138,059
EXXON MOBIL CORP	184,423	184,423
GENERAL MILLS INC	197,684	197,684
GENERAL MOTORS FINANCIAL CO INC	593,876	593,876
GEORGIA POWER CO	297,169	297,169
GOLDMAN SACHS GROUP INC	1,097,218	1,097,218
HOME DEPOT INC	602,762	602,762
JOHN DEERE CAPITAL CORP	748,382	748,382
JPMORGAN CHASE & CO	903,350	903,350
KEURIG DR PEPPER INC	595,286	595,286
L3HARRIS TECHNOLOGIES INC	181,123	181,123
LAM RESEARCH CORP	177,111	177,111
LOWE'S COS INC	134,956	134,956
MARSH & MCLENNAN COS INC	453,930	453,930
MERCK & CO INC	187,746	187,746
MITSUBISHI UFJ FINL GRP INC	213,734	213,734
MIZUHO FINANCIAL GROUP INC	220,310	220,310
MORGAN STANLEY	592,423	592,423
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP	745,136	745,136
NEXTERA ENERGY CAPITAL HOLDINGS INC	600,229	600,229
NISOURCE INC	196,027	196,027
NORTHROP GRUMMAN CORP	194,156	194,156
NVIDIA CORP	161,585	161,585
ONEOK INC	171,611	171,611
PAYPAL HOLDINGS INC	184,255	184,255
PINNACLE WEST CAPITAL CORP	594,224	594,224
ROYAL BANK OF CANADA	600,250	600,250
RTX CORP	403,626	403,626
SHELL INTERNATIONAL FINANCE	181,749	181,749
SHIRE ACQUISITIONS INVESTMENTS IRELAND	221,958	221,958
TORONTO-DOMINION BANK	300,264	300,264
TOYOTA MOTOR CREDIT CORP	741,007	741,007
TRANSCANADA PIPELINES LTD	196,461	196,461
UNION PACIFIC CORP	194,488	194,488
UNITEDHEALTH GROUP INC	186,072	186,072
VERIZON COMMUNICATIONS	180,099	180,099
VIRGINIA ELECTRIC AND POWER CO	182,261	182,261
WELLS FARGO & CO	756,481	756,481
SALOMON BROS MTG	1,906	1,906

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Name of Stock	End of Year Book Value	End of Year Fair Market Value
INVESCO SR FLOATING RATE Y	5,596,246	5,596,246
3I GROUP	32,450	32,450
ABB LTD	27,831	27,831
ACCELLERON INDS LTD	52	52
ACV AUCTIONS	144,936	144,936
ADVANTEST CORP	4,858	4,858
AENA SME	22,894	22,894
AGNC INVESTMENT CORP	180,977	180,977
AGRICULTURAL BK CHINA LTD	83,902	83,902
AIR LIQUIDE	65	65
AIR PROD & CHEM INC	539,474	539,474
ALARM COM HLDGS INC	96,672	96,672
ALCON INC	85	85
ALIGN TECHNOLOGY	99,459	99,459
ALKAMI TECHNOLOGY INC	102,851	102,851
AMBEV	13,677	13,677
AMERICAN EXPRESS CO	211,314	211,314
AMN HEALTHCARE SVCS INC	104,172	104,172
ANHUI CONCH CEMENT	6,628	6,628
ANSYS INC	205,771	205,771
AON PLC	320,012	320,012
AP MOLLAR-MAERSK	1,653	1,653
ARGENX	36,900	36,900
ASE TECHNOLOGY HLDG CO	19,586	19,586
ASGN INC	195,016	195,016
ASML HOLDING	5,545	5,545
ASSOC BRITISH FDS	7,855	7,855
ASTRAZENECA	8,256	8,256
AT&T INC	562,556	562,556
AUTO TRADER GROUP	41,019	41,019
AUTOHOME INC	18,061	18,061
AUTOZONE INC	704,440	704,440
AVANTOR INC	260,531	260,531
BAE SYS	12,888	12,888
BANK OF CHINA	75,512	75,512
BARRICK GOLD CORP	233,074	233,074
BAXTER INTL INC	232,405	232,405
BDO UNIBANK INC	14,090	14,090
BERKSHIRE HATHAWAY	728,874	728,874
BIO-TECHNE CORP	167,254	167,254
BLACKLINE INC	95,150	95,150
BOC HONG KONG LTD	31,734	31,734
BOOKING HOLDINGS INC	337,107	337,107
BRIDGESTONE	61,432	61,432
BROOKFIELD CORP	844,745	844,745
BROOKFIELD RENEWABLE CORP	151,162	151,162
CAMECO CORP	2,004	2,004
CANADIAN NATL RAILWAY CO	39,995	39,995
CANADIAN PACIFIC KANSAS CITY	43,133	43,133
CANON INC	47,025	47,025
CARREFOUR	19,211	19,211
CCC INTELLIGENT SOLUTIONS HLD	97,629	97,629
CDN IMPL BK COMMERCE	17,831	17,831
CENOVUS ENERGY INC	4,212	4,212
CENTENE CORPORATION	485,488	485,488
CERTARA INC	47,499	47,499
CGI INC	417,821	417,821
CHARLES RIVER LABS INTL INC	110,575	110,575
CHARLES SCHWAB CORP	348,439	348,439
CHECK POINT SOFTWARE TECH LTD	43,875	43,875
CHINA CONSTRUCTION BANK CORP	84,421	84,421
CHINA SHENHUA ENERGY	22,268	22,268
CHUNGHWA TELECOM LTD	100,864	100,864
CISCO SYS INC	202,286	202,286
CLP HOLDINGS LTD	55,185	55,185
CME GROUP INC	369,246	369,246
COCA-COLA EUROPACIFIC PARTNERS	4,148	4,148
COCHLEAR LTD	3,590	3,590
COGNEX CORP	76,884	76,884
COMCAST CORP	385,058	385,058
COMMERCIAL INTL BNK LTD	25,700	25,700
COMMERZ BANK	49	49
COMPASS GROUP	413,537	413,537
COSTAR GROUP INC	185,418	185,418
COTERRA ENERGY INC	272,231	272,231
CREDICORP LTD	66,545	66,545
CSW INDUSTRIALS INC	64,210	64,210
CVS HEALTH CORP	335,328	335,328
DAI NIPPPN PRGT LTD JAPAN	21,649	21,649
DANONE	40,660	40,660
DBS GROUP HOLDINGS LTD	107,938	107,938
DENSO CORP LTD	10,047	10,047
DESCARTES SYSTEMS GROUP INC	197,891	197,891
DEUTSCHE TELEKOM	23,843	23,843
DIGITALBRIDGE GROUP INC	268,915	268,915
DOLLAR GEN CORP	210,249	210,249
DOLLAR TREE INC	291,292	291,292
DONALDSON CO INC	238,554	238,554
DOUBLEVERIFY HLDGS INC	73,382	73,382
DR REDDY'S LABORATORIES LTD	107,483	107,483
ELBIT SYSTEMS LTD	31,743	31,743
ELEMENT SOLUTIONS INC	265,108	265,108
ENERSYS	361,401	361,401
ENI SPA AMER DEP RCPT	2,763	2,763
ENTEGRIS INC	122,636	122,636
ESSILORLUXOTTICA	12,686	12,686
EURONET WORLDWIDE INC	411,874	411,874
EXPEDIA GROUP INC	351,232	351,232
EXPONENT INC	85,180	85,180
FERRARI	36,961	36,961
FIRST EAGLE OVERSEAS I	5,644,217	5,644,217
FISERV INC	1,503,264	1,503,264
FIVE BELOW	135,293	135,293
FLOOR & DECOR HLDGS INC	85,543	85,543
FMC CORP	209,995	209,995
FRESHPET INC	118,044	118,044
FUCHS	33,107	33,107
FUJIFILM HLDGS CORP	12,255	12,255
FUJITSU LTD	9,263	9,263
GALP ENERGIA	14,270	14,270
GENL DYNAMICS CORP	207,630	207,630
GENMAB	9,392	9,392
GENTEX CORP	207,000	207,000
GENTING BERHAD	3,323	3,323
GENUINE PARTS CO	240,175	240,175
GILDAN ACTIVEWEAR INC	3,341	3,341
GLOBANT	263,093	263,093
GLOBE LIFE INC	337,125	337,125
GODADDY INC	224,804	224,804
GOLDMAN SACHS GQG INTL OPP I	8,655,201	8,655,201
GRAND CANYON ED INC	286,650	286,650
GREEK ORGANISATION OF FOOTBALL	1,837	1,837
GRID DYNAMICS HLDGS	124,677	124,677
GSK	411,657	411,657
GUIDEWIRE SOFTWARE INC	236,349	236,349
HALEON	28,315	28,315
HANESBRANDS INC	282,784	282,784
HANG SENG BANK LTD	27,800	27,800
HARTFORD FIN SERS GRP INC	171,539	171,539
HDFC BANK LTD ADR	62,008	62,008
HEICO CORP	301,217	301,217
HEIDELBERG MATERIALS	16,183	16,183
HEINEKEN	420,852	420,852
HENGAN INTL GROUP CO LTD ADR	9,956	9,956
HENKEL AG & CO	100,383	100,383
HITACHI 10 COM NEW ADR	6,413	6,413
HONDA MOTOR COMPANY LTD	153,742	153,742
HONG KONG & CHINA GAS LTD	45,172	45,172
HOWARD HUGHES HOLDINGS INC	184,993	184,993
HOYA CORP SPONS ADR	7,565	7,565
ICICI BANK LTD	11,287	11,287
ICL GROUP LTD	30,540	30,540
IMPERIAL OIL LTD	40,471	40,471
INDUSTRIA DE DISENO TEXTIL IND	74,584	74,584
INDUSTRIAL & COML BK CHINA	52,771	52,771
INFOSYS LIMITED	93,927	93,927
INGREDION INC	312,399	312,399
INPEX CORPORATION	20,964	20,964
INTERNATIONAL DISTRIBUTIONS	34,170	34,170
ISHARES 0-3 MONTH TREASURY B	422,347	422,347
ISUZU MOTORS LTD	12,457	12,457
JACK HENRY & ASSOC INC	78,009	78,009
JAPAN AIRLS	4,298	4,298
JARDINE MATHESON HLDGS LTD	59,284	59,284
JOHNSON & JOHNSON	100,511	100,511
JONES LANG LASALLE INC	235,420	235,420
KADANT INC	111,432	111,432
KAO CORP	23,655	23,655
KBC GROUP	16,132	16,132
KDDI CORP	75,232	75,232
KEMPER CORP	444,484	444,484
KENVUE INC	351,378	351,378
KERRY	36,017	36,017
KFORCE.COM	125,307	125,307
KINGFISHER	2,255	2,255
KINSALE CAP GROUP INC	175,819	175,819
KIRIN BREWERY CO LTD	40,066	40,066
KONINKLIJKE	115,822	115,822
KORNIT DIGITAL LTD	83,905	83,905
KYOCERA	13,484	13,484
LOREAL CO	35,752	35,752
LENOVO GROUP LTD	4,178	4,178
LKQ CORPORATION	333,690	333,690
LOCKHEED MARTIN CORP	359,596	359,596
LOGITECH INTL	24,096	24,096
MAKITA CORPORATION	3,975	3,975
MARKEL GROUP INC	578,287	578,287
MARKS & SPENCER GRP	11,983	11,983
MARRIOTT VACATIONS WORLDWIDE	216,867	216,867
MAZDA MTR CORP	4,681	4,681
MCKESSON CORP	786,476	786,476
MEDPACE HOLDINGS, INC	185,717	185,717
MEDTRONIC	316,085	316,085
MICHELIN COMPAGNIE GENERALE DE	16,629	16,629
MICROSOFT CORP	641,945	641,945
MILLERKNOLL INC	99,464	99,464
MOL MAGYAR OLAJ	9,305	9,305
MONOTARO CO LTD	16,798	16,798
MSC INDL DIRECT CO	190,833	190,833
MURATA MANUFACTURING CO LTD	13,013	13,013
NATL FUEL GAS CO	276,640	276,640
NEOGEN CORP	45,391	45,391
NESTLE	20,987	20,987
NICE LTD	314,714	314,714
NINTENDO CO LTD	26,510	26,510
NIPPON TELEGRAPH & TELEPHONE	32,732	32,732
NIPPON YUSEN KABUHIKI	4,563	4,563
NITTO DENKO CORPORATION	6,565	6,565
NNN REIT INC	157,763	157,763
NOKIA	21,667	21,667
NOVARTIS	474,386	474,386
NOVO NORDISK	40,946	40,946
NU HLDGS LTD	2,227	2,227
NUTRIEN LTD	6,534	6,534
OCCIDENTAL PETROLEUM CORP	554,232	554,232
ONO PHARMACEUTICAL CO LTD	24,411	24,411
OPEN TEXT CORP	412,764	412,764
OPTION CARE HEALTH INC	61,248	61,248
ORACLE CORP	459,260	459,260
ORANGE	35,304	35,304
OSHKOSH CORP	218,281	218,281
OTSUKA HOLDINGS CO LTD	44,927	44,927
PATTERSON COMPANIES INC	214,786	214,786
PAYCOM SOFTWARE INC	201,281	201,281
PAYLOCITY HOLDING CORPORATION	189,895	189,895
PAYPAL HLDGS INC	344,217	344,217
PDD HOLDINGS INC	6,207	6,207
PEARSON	32,965	32,965
PEMBINA PIPELINE CORP	23,944	23,944
PETROLEO BRASILEIRO	2,302	2,302
PLDT INC ADR	2,215	2,215
PNC FINL SVCS	314,346	314,346
PORSCHE AUTOMOBIL HLDG	28,090	28,090
PPG INDUSTRIES INC	298,028	298,028
PRIVIA HEALTH GROUP INC	152,959	152,959
PRYSMIAN S P A MILANO	4,469	4,469
PT BK CENT ASIA TBK	44,633	44,633
PT BK MANDIRI PERSERO	3,400	3,400
PT TELEKOMUNIKASI INDONESIA	8,093	8,093
PT UNITED TRACTORS	24,787	24,787
RB GLOBAL INC	256,106	256,106
REPLIGEN CP	97,735	97,735
REPSOL	41,702	41,702
ROCHE HOLDINGS	46,042	46,042
ROYALTY PHARMA	171,171	171,171
ROLLINS INC	475,634	475,634
SAMPO OYJ	19,900	19,900
SANDOZ GROUP	41	41
SANOFI	371,950	371,950
SANTEN PHARMACEUTICAL CO	29,957	29,957
SAP	43,333	43,333
SCHLUMBERGER	233,989	233,989
SEA LIMITED	2,440	2,440
SECOM LTD	48,103	48,103
SEVEN & I HLDGS CO LTD	14,527	14,527
SHELL	166,460	166,460
SHIONOGI & CO LTD	15,391	15,391
SHOPIFY INC	10,101	10,101
SIMPSON MANUFACTURING CO INC	103,644	103,644
SINGAPORE AIRLS LTD	2,266	2,266
SINGAPORE TELECOM LTD	69,537	69,537
SK TELECOM LTD	42	42
SMITH & NEPHEW	285,497	285,497
SMITHS GROUP	8,159	8,159
SOFTBANK CORP	11,428	11,428
SONOVA HLDG	2,616	2,616
SOUTHERN COPPER CORP	20,960	20,960
SPARK NEW ZEALAND LTD	4,851	4,851
SPOTIFY TECHNOLOGY	2,237	2,237
SPDR BLOOMBERG 1-3 MONTH T-B	289,559	289,559
SPS COMMERCE INC	128,977	128,977
SS&C TECHNOLOGIES HLDGS INC	371,701	371,701
STANTEC INC	21,731	21,731
STELLANTIS	2,297	2,297
SUNCOR ENERGY INC	15,806	15,806
SUNTORY BEVERAGE AND FOOD LTD	40,287	40,287
SWATCH GROUP	15,293	15,293
SWIRE PACIFIC	7,981	7,981
SWISSCOM	98,534	98,534
TAIWAN SMCNDCTR MFG CO LTD	197,293	197,293
TECHTRONIC IND LTD	4,618	4,618
TELEFONICA BRASIL	35,213	35,213
TENCENT HLDGS LTD	26,590	26,590
TESCO	4,511	4,511
TFI INTL INC	5,269	5,269
THE ENSIGN GROUP INC	171,655	171,655
THERMO FISHER SCIENTIFIC	343,352	343,352
THOMSON REUTERS CORP	53,407	53,407
TIM	17,064	17,064
TOAST INC	170,404	170,404
TORONTO DOM BK	160	160
TOTALENERGIES	382,754	382,754
TRAVELERS COMPANIES INC	271,242	271,242
TREEHOUSE FOODS INC	233,790	233,790
TRUIST FINL CORP	273,207	273,207
TURKCELL ILETISM HIZM	31,378	31,378
TYLER TECHNOLOGIES INC	274,481	274,481
U HAUL HOLDING COMPANY	391,326	391,326
U S BANCORP	332,371	332,371
UNICHARM CORP	8,262	8,262
UNICREDIT	199	199
UNILEVER	358,628	358,628
UNION PACIFIC CORP	437,837	437,837
UNITED PARCEL SER INC	188,141	188,141
UNIVERSAL MUSIC GROUP	2,611	2,611
UTD MICROELECTR	36,097	36,097
UTD OVERSEAS BK LTD	3,356	3,356
VERISK ANALYTICS INC	113,202	113,202
VERIZON COMMUNICATIONS	417,256	417,256
VERTIV HOLDINGS LLC	840,146	840,146
VIPSHOP HLDGS LTD	9,362	9,362
VISA INC	566,976	566,976
VIVENDI	10,311	10,311
VODAFONE GROUP	13,049	13,049
W P CAREY INC	282,315	282,315
WAL-MART DE MEXICO	1,504	1,504
WALT DISNEY CO HLDG CO	5,226,658	5,226,658
WARNER BROS DISCOVERY INC	294,163	294,163
WATSCO INC	168,231	168,231
WEG	17,733	17,733
WELLS FARGO & CO	363,352	363,352
WESCO INTL INC	604,406	604,406
WEST FRASER TIMBER CO	15,233	15,233
WEST PHARMACEUTICAL SVCS INC	230,602	230,602
WEX INC COM	83,277	83,277
WH GROUP	52,194	52,194
WHARF HOLDING LTD	17,626	17,626
WILLIAMS CO INC	175,024	175,024
WILMAR INTL LTD	28,405	28,405
WIPRO LTD	99,580	99,580
WIX COM	2,575	2,575
WOORI FINANCIAL GROUP INC	31	31
WORKIVA INC	203,780	203,780
XIAOMI CORP	6,440	6,440
YUM CHINA HLDNGS	7,129	7,129
ZEBRA TECH	679,747	679,747
ZIMMER BIOMET HLDGS INC	244,641	244,641
ZTO EXPRESS CAYMAN INC	1,740	1,740

- TIN:

TY 2024 InvestmentsGovtObligationsSch

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

US Government Securities - End of Year Book Value:

3,988,330

US Government Securities - End of Year Fair Market Value:

3,988,330

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

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

- TIN:

TY 2024 InvestmentsOtherSchedule2

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
SHERPAVENTURES FUND II, LP	FMV	355,826	355,826
SHERPAEVEREST FUND, LP	FMV	367,856	367,856
BRIDGE MULTIFAMILY III INTERNATIONAL FUNDS	FMV	65,286	65,286
BLUE OWL OAK STREET	FMV	3,408,062	3,408,062
OAKTREE STRATEGIC CREDIT FUND	FMV	9,685,286	9,685,286
KKR OPPORTUNITIES (OFFSHORE) FUND PRIVATE INVESTORS II-A L.P.	FMV	894,791	894,791
FORESITE CAPITAL FUND IV, L.P.	FMV	1,097,468	1,097,468
DOUBLELINE OPPORTUNISTIC INCOME FUND II LTD	FMV	2,157,975	2,157,975
TRIAN PARTNERS, LTD.	FMV	6,762,761	6,762,761
FARALLON CAPITAL INSTITUTIONAL PARTNERS, LP	FMV	6,353,613	6,353,613
BRIDGE SENIORS I INTERNATIONAL FUNDS	FMV	2,130,417	2,130,417
STEADFAST INTERNATIONAL LTD.	FMV	5,170,515	5,170,515
BRIDGE MULTIFAMILY IV INTERNATIONAL FUNDS	FMV	3,804,600	3,804,600
PE PREMIER BLACKSTONE LIFE SCIENCES V OFFSHORE FEEDER LP	FMV	827,862	827,862
TVM LIFE SCIENCE INNOVATION II SCSP	FMV	1,551,963	1,551,963
KKR DISLOCATION OPPORTUNITIES (TE) FEEDER L.P.	FMV	1,062,845	1,062,845
FORESITE CAPITAL FUND V, LP	FMV	1,924,204	1,924,204
MAKENA PERPETUAL VENTURE CAPITAL FUND (CAYMAN), L.P.	FMV	2,639,495	2,639,495
BRIDGE MULTIFAMILY V INTERNATIONAL FUNDS	FMV	1,383,256	1,383,256
FVP GROWTH PARTNERS, LP	FMV	709,507	709,507

- TIN:

TY 2024 LegalFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	3,997	400		302

- TIN:

TY 2024 OtherExpensesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
INSURANCE	8,781	7,903	878
OFFICE/ADMIN	400	360	40
PASSTHROUGH DEDUCTIONS	0	149,668	0

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER PASSTHROUGH INCOME	0	449,278	0
OTHER INVESTMENT INCOME	19,273	19,273	19,273

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Amount
UNREALIZED GAINS OR LOSSES ON INVESTMENTS	1,256,652

- TIN:

TY 2024 OtherLiabilitiesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Description	Beginning of Year - Book Value	End of Year - Book Value
DEFERRED EXCISE TAX LIABILITY	367,838	385,499

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	607,394	607,394		0
CONSULTING FEES	8,062	806		7,256

- TIN:

TY 2024 TaxesSchedule

Name:

THE WALT AND LILLY DISNEY FOUNDATION

EIN:

23-7425637

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX ON INVESTMENTS	47,035	47,035		0
FEDERAL EXCISE TAX	70,661	0		0