Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
Douglas B Marshall Jr Family
Foundation
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 1471
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Houston, TX772511471
A Employer identification number

76-0664812
B Telephone number (see instructions)

(713) 651-8800
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$44,909,522J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 689,837 689,837  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
1,926,626
b Gross sales price for all assets on line 6a 1,701,724
7 Capital gain net income (from Part IV, line 2)... 1,925,375
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
286,864 267,018  
12 Total. Add lines 1 through 11........ 2,903,327 2,882,230  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
33,800 16,180   16,900
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
163,818 75,866   87,952
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
77,003 7,926   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
220,619 211,268   5,000
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 495,240 311,240   109,852
25 Contributions, gifts, grants paid....... 2,202,500 2,202,500
26 Total expenses and disbursements. Add lines 24 and 25 2,697,740 311,240   2,312,352
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 205,587
b Net investment income (if negative, enter -0-) 2,570,990
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,718,679 1,570,586 1,570,586
3 Accounts receivable right arrow67,406
Less: allowance for doubtful accounts right arrow   69,291 67,406 67,406
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 9,122,702 Click to see attachment
List of Attached Documents:
// Content
8,941,138 		22,268,722
c Investments—corporate bonds (attach schedule)....... 4,150,000 Click to see attachment
List of Attached Documents:
// Content
4,008,810 		4,050,110
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 10,703,538 Click to see attachment
List of Attached Documents:
// Content
11,501,857 		16,952,698
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,764,210 26,089,797 44,909,522
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
120,000
23 Total liabilities (add lines 17 through 22)......... 0 120,000
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 25,764,210 25,969,797
29 Total net assets or fund balances (see instructions)..... 25,764,210 25,969,797
30 Total liabilities and net assets/fund balances (see instructions). 25,764,210 26,089,797
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
25,764,210
2
Enter amount from Part I, line 27a .....................
2
205,587
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
25,969,797
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
25,969,797
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly traded securities      
b Passthrough K-1 capital gain P    
c Capital gain distributions      
d OCM Opps Fund VIIB - Termination P 2008-07-01 2024-12-31
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,700,429   1,089,918 610,511
b       892,554
c       423,553
d 44   1,287 -1,243
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       610,511
b       892,554
c       423,553
d       -1,243
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 1,925,375
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 35,737
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 35,737
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 35,737
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 33,921
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 21,800
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 55,721
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 19,984
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow19,984 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowTX
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowwww.dbmjr.org
14
The books are in care ofright arrowLegacy Trust Company Telephone no.right arrow (713) 651-8753

Located atright arrowPO Box 1471HoustonTX ZIP+4right arrow772511471
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Douglas B Marshall IIIClick to see attachment
List of Attached Documents:
// Content
President/Director
5.00 		0 0 0
PO Box 1471
Houston,TX772511471
Amrita Ahuja VP/Director
1.00 		0 0 0
PO Box 1471
Houston,TX772511471
Rebecca Dietz Secretary
6.00 		0 0 0
PO Box 1471
Houston,TX772511471
Robert T Arnold Treasurer/Director
1.00 		0 0 0
PO Box 1471
Houston,TX772511471
Valmik Ahuja Director
1.00 		0 0 0
PO Box 1471
Houston,TX772511471
Tracy Kimmel Director
1.00 		0 0 0
PO Box 1471
Houston,TX772511471
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
Legacy Trust Company Trustee, accounting fees 166,143
PO Box 1471
Houston,TX772511471
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
25,408,600
b
Average of monthly cash balances.......................
1b
2,017,574
c
Fair market value of all other assets (see instructions)................
1c
16,556,427
d
Total (add lines 1a, b, and c).........................
1d
43,982,601
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
43,982,601
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
659,739
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
43,322,862
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,166,143
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,166,143
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
35,737
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
3,353
c
Add lines 2a and 2b............................
2c
39,090
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,127,053
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,127,053
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,127,053
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
2,312,352
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,312,352
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 2,127,053
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......  
b From 2020......  
c From 2021......  
d From 2022...... 273,405
e From 2023...... 1,595,526
f Total of lines 3a through e ........ 1,868,931
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 2,312,352
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..... 2,127,053
e Remaining amount distributed out of corpus 185,299
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 2,054,230
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) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		2,054,230
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022.... 273,405
d Excess from 2023.... 1,595,526
e Excess from 2024.... 185,299
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
Douglas B Marshall III
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Rebecca Dietz The Douglas B Marshal
PO Box 1471
Houston,TX772511471
(713) 651-8806
dbmjrfoundation@gmail.com
bThe form in which applications should be submitted and information and materials they should include:
Applications should be submitted by email to dbmjrfoundation@gmail.com. Go to www.dbmjr.org/grant_guidelines for application forms.
cAny submission deadlines:
Go to www.dbmjr.org for current deadlines.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
The mission of the Douglas B. Marshall, Jr. Family Foundation is to support education and research on all levels. This includes, on the one hand, supporting cutting edge research at universities, laboratories, and other such institutions. It also includes the support of basic education, especially in areas of literacy, numeracy, and science. Since education and research are impossible without food, shelter, clothing, or medicine, it is within the bounds of the Foundation's mission to provide these when necessary.
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

Avanti Fellows

3500 Palmilla Dr Unit 5006
San Jose,CA95134 		N/A PC General support 50,000

Central Square Foundation

242 Okhla Industrial Estate Phase 3
New Delhi
    110020
IN 		N/A PC General support 75,000

Children's Hope India Inc

7 Edgemere Dr
Albertson,NY11507 		N/A PC General support 5,000

Columbia Grammar & Preparatory School

5 West 93rd St
New York,NY10025 		N/A PC General support 15,000

GDI-Solutions Inc

1401 K St Nw Ste 900
Washington,DC20005 		N/A PC General support 625,000

Global School Leaders

12329 Culver Boulevard
Los Angeles,CA90066 		N/A PC School development in India and M&E Strengthening 75,000

Gyan Prakash Foundation

19 Sindh Co-op Housing SocietySadhu
Vasvani Rd Aundh
Pune,Maharashtra411007
IN 		N/A PC General support 100,000

Innovations for Poverty Action

101 Whitney Ave
New Haven,CT06510 		N/A PC Bridge grant 50,000

Mannion Daniels

2Nd Floor 11 - 15 Emerald St
London   WC1N 3QL
UK 		N/A NC Support to the Global Education Evidence Advisory Panel (GEEAP) and its Secretariat 37,500

Massachusetts Institute of Technology

77 Massachusetts Ave E53-320
Cambridge,MA02139 		N/A PC Post-primary education in developing countries, Phase II(J-PAL)/ Fol and IGI 350,000

Pratham USA

9703 Richmond Ave Ste 102
Houston,TX77042 		N/A PC Central MME and government partnerships programs 350,000

Precision Development Inc

PO Box 610226
Newton Hlds,MA02461 		N/A PC General support 10,000

President And Fellows Of Harvard College

PO Box 419209
Boston,MA02241 		N/A PC General support 250,000

Reach Unlimited Inc

12777 Jones Rd Ste 103
Houston,TX77070 		N/A PC General support 15,000

St Philip's Episcopal School

343 North Getty St
Uvalde,TX78801 		N/A PC Tuition Assistance 15,000

The Episcopal Theological Seminary

501 East 32nd St
Austin,TX78705 		N/A PC General support 10,000

Ummeed Child Development Fund Inc

17 Powder Mill Rd
Framingham,MA01701 		N/A PC General support 15,000

World Central Kitchen Inc

PO Box 96538
Washington,DC20090 		N/A PC General support 5,000

Young 1ove Foundation

2028 E Ben White Blvd 240-3760
Austin,TX78741 		N/A PC General support 150,000
Total .................................right arrow 3a 2,202,500
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		         
4 Dividends and interest from securities ....     14 689,837  
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 ............ 		525990 1,251 18 1,925,375  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPassthrough K-1 income 		525990 18,208 14 268,656  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 19,459 2,883,868 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,903,327
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Audit services 14,500 7,250   7,250
Bookkeeping 14,500 7,250   7,250
Tax Compliance 4,800 1,680   2,400

TY 2024 CompensationExplanation
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Person Name Explanation
Rebecca Dietz Douglas B. Marshall, Jr. Family Foundation (the Foundation) paid trustee and accounting fees of $166,143 to Legacy Trust Company, pursuant to a trust agreement, for ordinary and necessary personal services performed for the Foundation during the tax year. Rebecca Dietz is employed by Legacy Trust Company. She is not employed or compensated by the Foundation and only serves as a representative of Legacy Trust Company on the board of the foundation. The trustee fees are not paid to Rebecca Dietz, are unrelated to her position as a representative on the board, and would be paid to Legacy Trust Company regardless of her services. The Foundation is making this disclosure pursuant to revised IRS guidance per Announcement 2021-18.

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TY 2024 ExpenditureResponsibilityStmt
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
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
Mannion Daniels
  		Universal House 1-2 Queens Parade
Place
Bath   BA1 2NN
UK 		2021-07-30 266,700 To provide support to the Global Education Evidence Advisory Panel (GEEAP) and its Secretariat to ensure production, dissemination and uptake of evidence to improve educational outcomes. Detail of dates, grant amounts and expenditures in the totals above: Date Amount of Grant Amount Expended 07/30/21 $70,000 $70,000 12/17/21 $70,000 $70,000 06/23/22 $70,000 $70,000 09/29/22 $56,700 $56,700 266,700 No 3/31/22, 3/27/23, 7/15/24   To the knowledge of the Douglas B. Marshall, Jr. Family Foundation, and based upon the reports furnished by the grantee, no part of the grants have been diverted from any activity for which the grants were originally made. The Douglas B. Marshall, Jr. Family Foundation has no reason to doubt the accuracy or reliability of the reports from the grantee; therefore, no independent verification of the reports was made.
Mannion Daniels
  		Universal House 1-2 Queens Parade
Place
Bath   BA1 2NN
UK 		2023-07-20 167,500 To provide support to the Global Education Evidence Advisory Panel (GEEAP) and its Secretariat to ensure production, dissemination and uptake of evidence to improve educational outcomes. Detail of dates, grant amounts and expenditures in the totals above: Date Amount of Grant Amount Expended 07/20/23 $130,000 $130,00005/06/24 $ 37,500 $ 37,500 167,500 No 7/15/24   To the knowledge of the Douglas B. Marshall, Jr. Family Foundation, and based upon the reports furnished by the grantee, no part of the grants have been diverted from any activity for which the grants were originally made. The Douglas B. Marshall, Jr. Family Foundation has no reason to doubt the accuracy or reliability of the reports from the grantee; therefore, no independent verification of the reports was made.

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TY 2024 GainLossSaleOtherAssetsSch
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
UBTI K-1 Capital Gain excluded from Part IV and Part I, Ln 7   Purchased     1,251   Cost 0 1,251  

TY 2024 InvestmentsCorpBondsSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Name of Bond End of Year Book Value End of Year Fair Market Value
335925.858 shs PIMCO Income Fund (00) 3,500,000 3,533,940
49065.595 shs PIMCO Income Fund (01) 508,810 516,170

TY 2024 InvestmentsCorpStockSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Name of Stock End of Year Book Value End of Year Fair Market Value
14230 shs iShares MSCI EAFE ETF (00) 726,898 1,075,929
8145 shs iShares Russell 1000 Growth ETF (00) 695,863 3,270,869
12423 shs iShares Russell 1000 Value ETF (00) 2,001,249 2,299,870
16920.474 shs PGIM Jennison International Op (00) 400,000 512,860
50314.464 shs Pzena International Value Fund (00) 400,000 507,170
25206.693 shs Wasatch Emer Mkts Select Fd (00) 375,000 427,506
738 shs Microsoft Corp (00) 40,090 311,067
1500 shs Novo Nordisk A/S (00) 7,668 129,030
212 shs S&P Global Inc (00) 9,227 105,582
300 shs Visa Inc (00) 20,720 94,812
11135 shs SPDR S&P 500 ETF Trust (00) 1,467,293 6,526,001
1992 shs iShares Russell 1000 Growth ETF (01) 285,345 799,947
4697 shs iShares Russell 1000 Value ETF (01) 752,583 869,556
1578 shs iShares Russell 2000 Growth ETF (01) 125,485 454,180
3578 shs iShares Russell Mid-Cap Growth ETF (01) 90,350 453,512
7742 shs iShares MSCI EAFE ETF (01) 391,822 585,373
12690.355 shs PGIM Jennison International Op (01) 300,000 384,645
37735.849 shs Pzena International Value Fund (01) 300,000 380,377
5256 shs SPDR S&P 500 ETF Trust (01) 551,545 3,080,436

TY 2024 InvestmentsOtherSchedule2
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
LTC Core Equity Fund (00) AT COST 1,528,297 2,609,505
Legacy Distressed Ops II Ltd (00) AT COST 353,197 389,430
Legacy European Dist Opp II LP (00) AT COST 35,765 39,640
Legacy Focused Growth Fund LP (00) AT COST 1,664,924 2,619,515
Legacy New Tech Fund LP (00) AT COST 504,915 1,035,425
Legacy Value Partners LP (00) AT COST 1,838,185 2,516,264
Legacy Infrastructure Ptrs II LP (00) AT COST 38,227 121,140
Legacy Mezzanine Partners LP (00) AT COST 799 548
Legacy Private Equity Ptrs III LP (00) AT COST 396,651 556,605
LTC Commercial RE Debt, LP (00) AT COST 20,678 13,605
LTC Energy Transitions Ops LP (00) AT COST 296,960 361,461
LTC PE Financial Services LP (00) AT COST 175,948 305,972
LTC PE Growth LP (00) AT COST 280,425 385,992
LTC PE Real Estate LP (00) AT COST 108,964 102,213
LTC Real Estate Equity 2022 LP (00) AT COST 757,275 838,698
LTC Private Credit 2024 LP (00) AT COST 303,376 300,000
LTC Private Credit LP AT COST 741,287 702,913
LTC Private Equity 2024 LP AT COST 401,363 420,000
LTC Real Estate Equity 2024 LP AT COST 506,749 396,000
LTC Realty Partners II LP (00) AT COST 22,671 22,650
LTC Realty Partners III LP (00) AT COST 596,421 581,053
Legacy Focused Growth Fund LP (01) AT COST 358,204 888,692
Legacy New Tech Fund LP (01) AT COST 199,195 784,946
Legacy Value Partners LP (01) AT COST 369,773 959,334
Legacy Mezzanine Partners (01) AT COST 1,608 1,097

TY 2024 OtherExpensesSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
K-1 expenses 215,619 211,268   0
Membership dues 5,000 0   5,000


TY 2024 OtherIncomeSchedule2
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Passthrough K-1 income 286,864 267,018 286,864


TY 2024 OtherLiabilitiesSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Description Beginning of Year - Book Value End of Year - Book Value
Due to LTC RE Equity 2024 LP 0 120,000


TY 2024 OtherProfessionalFeesSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Data processing fees 10,362 0   10,362
Institutional trustee fees 151,643 75,821   75,822
Philanthropic consulting 1,375 0   1,375
Registered agent fee 393 0   393
Investment fees 45 45   0


TY 2024 TaxesSchedule
Name:
Douglas B Marshall Jr Family
 
Foundation
EIN:
76-0664812
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal 990-PF tax 43,000 0   0
Federal 990-T tax 26,077 0   0
Foreign tax 7,926 7,926   0