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 07-01-2024 , and ending 06-30-2025
Name of foundation
SHELTON FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2791
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ABILENE, TX79604
A Employer identification number

75-2655885
B Telephone number (see instructions)

(325) 676-7724
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$24,421,012J 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... 731,594 731,594  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 514,803
b Gross sales price for all assets on line 6a 596,932
7 Capital gain net income (from Part IV, line 2)... 514,803
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 1,246,397 1,246,397  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 100,357 25,089   75,268
14 Other employee salaries and wages...... 55,080 0   55,080
15 Pension plans, employee benefits....... 17,186 2,226   14,960
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
6,015 0   6,015
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
30,457 1,822   9,638
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
32,546 1,558   30,989
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 241,641 30,695   191,950
25 Contributions, gifts, grants paid....... 875,900 875,900
26 Total expenses and disbursements. Add lines 24 and 25 1,117,541 30,695   1,067,850
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 128,856
b Net investment income (if negative, enter -0-) 1,215,702
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......... 1,283,455 1,022,441 1,022,441
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 24,489,540 Click to see attachment
List of Attached Documents:
// Content
24,860,451 		6,469,266
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 14,585,873 Click to see attachment
List of Attached Documents:
// Content
14,585,873 		16,554,019
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
356,546 		Click to see attachment
List of Attached Documents:
// Content
375,286 		Click to see attachment
List of Attached Documents:
// Content
375,286
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 40,715,414 40,844,051 24,421,012
Liabilities 17 Accounts payable and accrued expenses.......... 219  
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 219 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 40,715,195 40,844,051
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........    
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)..... 40,715,195 40,844,051
30 Total liabilities and net assets/fund balances (see instructions). 40,715,414 40,844,051
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
40,715,195
2
Enter amount from Part I, line 27a .....................
2
128,856
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
40,844,051
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
40,844,051
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   2023-06-30 2025-06-30
b CAPITAL GAIN DISTRIBUTIONS P    
c
d
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 350,999   82,129 268,870
b 245,933     245,933
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       268,870
b       245,933
c
d
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 2 514,803
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 16,898
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 16,898
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 16,898
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 23,112
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 23,112
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 6,214
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow6,214 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowTX
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowSHELTONFAMILYFOUNDATION.ORG
14
The books are in care ofright arrowDAVID L COPELAND PRESIDENT Telephone no.right arrow (325) 676-7724

Located atright arrow273 WALNUTABILENETX ZIP+4right arrow79601
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
Yes
 
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
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
DAVID L COPELAND PRES/TREAS/DIR
30.00 		100,357 8,905 0
PO BOX 2791
ABILENE,TX79604
SHAY SHELTON HOFFMAN DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
SINDY SHELTON DURHAM DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
C CHRISTINE NICHOLS DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
WENDY H DURHAM DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
ANDREW D DURHAM DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
DAVID R DURHAM DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
LEONARD R HOFFMAN DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
ANALIE DURHAM DIRECTOR
3.00 		0 0 0
PO BOX 2791
ABILENE,TX79604
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
NONE
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
22,435,990
b
Average of monthly cash balances.......................
1b
1,246,922
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
23,682,912
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) Click to see attachment
List of Attached Documents:
// Content
.............
1e
179,511
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
23,682,912
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
355,244
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
23,327,668
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,166,383
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
1,166,383
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
16,898
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
16,898
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,149,485
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,149,485
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
1,149,485
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
1,067,850
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
1,067,850
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 1,149,485
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 889,189
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......  
e From 2023......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,067,850
a Applied to 2023, but not more than line 2a 889,189
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..... 178,661
e Remaining amount distributed out of corpus 0
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 0
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 .......... 		970,824
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 ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
SHELTON FAMILY FOUNDATION DAVID L C
PO BOX 2791
ABILENE,TX79604
(325) 676-7724
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS ARE SUBMITTED ELECTRONICALLY. PLEASE VISIT OUR WEBSITE AT SHELTONFAMILYFOUNDATION.ORG. QUESTIONS CAN BE DIRECTED TO THE FOUNDATION MANAGER.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
LIMITED TO 501(C)(3) ORGANIZATIONS OR GOVERNMENTAL ENTITIES, PRIMARILY IN WEST CENTRAL TEXAS.
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

ABILENE ARTS ALLIANCE

1101 NORTH 1ST
ABILENE,TX79601 		  PC CHILDREN'S PERFORMING ARTS SERIES 4,000

ABILENE ARTS ALLIANCE

1101 NORTH 1ST
ABILENE,TX79601 		  PC YOUNG AUDIENCES FINE ART SUMMER CAMP 4,000

ABILENE CHRISTIAN UNIVERSITY

ACU BOX 29100
ABILENE,TX77000 		  PC BAPTIST STUDIES CENTER 25,000

ABILENE HOPE HAVEN INC

801 SOUTH TREADAWAY BLVD
ABILENE,TX79602 		  PC BRIDGE 2 HOME OPERATIONAL SUPPORT 60,000

ABILENE PHILHARMONIC ASSOCIATION INC

1102 NORTH 3RD SUITE C
ABIILENE,TX79601 		  PC ORCHESTRA MEMBER RETENTION BRIDGE GRANT 5,200

AMERICAN NATIONAL RED CROSS

1610 NORTH 2ND STREET
ABILENE,TX79601 		  PC 2025 OPERATIONS 5,000

BETTY HARDWICK CENTER

2616 SOUTH CLACK STREET SUITE 140
ABIILENE,TX79606 		  PC HUD RAPID REHOUSING AND PERMANENT SUPPORTIVE 25,000

BIG BROTHERS BIG SISTERS OF ABILENE INC

547 CHESTNUT STREET
ABILENE,TX79602 		  PC OPERATIONS 15,000

BIG COUNTRY CASA

400 OAK STREET SUITE 217
ABILENE,TX79602 		  PC OPERATIONS 5,000

BOYS AND GIRLS CLUB

PO BOX 2013
ABILENE,TX79604 		  PC HEALTHY SNACK PROGRAM 10,000

CALLAHAN COUNTY AGING SERVICES

100 W 4TH SUITE 302
BAIRD,TX79504 		  PC 2024 OPERATIONS 5,000

CAMP ABLE

PO BOX 695
BUFFALO GAP,TX79508 		  PC WHEELCHAIR GOLF CART 14,500

CHRISTIAN SERVICE CENTER OF ABILENE INC

3185 N 10TH ST
ABILENE,TX79603 		  PC RENTAL ASSISTANCE PROGRAM 10,000

FIRST CENTRAL PRESBYTERIAN CHURCH

400 ORANGE STREET
ABILENE,TX79601 		  PC FOOD PANTRY OPERATING COSTS 8,500

FOOD BANK OF ABILENE INC

5505 NORTH 1ST STREET
ABILENE,TX79603 		  PC YEAR END NEED 5,000

FOOD BANK OF ABILENE INC

5505 NORTH 1ST STREET
ABILENE,TX79603 		  PC CAPITAL EXPANSION 166,000

FRIENDS FOR LIFE

301 OAK STREET
ABIILENE,TX79602 		  PC OPERATIONS 5,000

FRIENDS OF THE ABILENE PUBLIC LIBRARY

202 CEDAR
ABILENE,TX79601 		  PC BOOK AND AUTHOR FESTIVAL 2,000

GRACE MUSEUM

102 CYPRESS ST
ABIILENE,TX79601 		  PC 2024 GALA 5,000

GRACE MUSEUM

102 CYPRESS ST
ABILENE,TX79601 		  PC 2025 OPERATING SUPPORT 5,000

KENLEY SCHOOL

1434 MATADOR
ABILENE,TX79605 		  PC 2025 OPERATIONS 60,000

LOVE AND CARE MINISTRIES

233 FANNIN STREET
ABIILENE,TX79603 		  PC CAREPACKS FOR KIDS 30,000

MCMURRY UNIVERSITY

MCM STATION BOX 938
ABILENE,TX79697 		  PC GARRISON STUDENT CENTER RENOVATION 100,000

NATIONAL CENTER FOR CHILDREN'S ILLUSTRATED LITERATURE

102 CEDAR
ABILENE,TX79601 		  PC 2025 OPERATIONS SUPPORT 42,000

NEW HORIZONS RANCH & CENTER INC

147 SAYLES BLVD
ABILENE,TX79605 		  PC AUDRY GRACE HOUSE 5,000

PHOENIX ICCD CLUBHOUSE INC

PO BOX 2352
ABIILENE,TX79604 		  PC ACCREDITATION TRAINING 9,000

RESCUE THE ANIMALS

4620 NORTH FIRST STREET
ABILENE,TX79603 		  PC 2025 OPERATING EXPENSES 45,000

RESTORED HOPE MINISTRIES INC

4301 BRYAN ST 204
DALLAS,TX75204 		  PC OPERATIONS 25,000

SALVATION ARMY & ITS COMPONENTS

1726 BUTTERNUT
ABILENE,TX79602 		  PC SHELTER EXPANSION PROJECT 100,000

SALVATION ARMY & ITS COMPONENTS

1726 BUTTERNUT
ABILENE,TX79602 		  PC 2026 - 2028 OPERATING FUNDS 25,000

SERENITY FOUNDATION

150 ORANGE
ABILENE,TX79601 		  PC COMPUTER PURCHASE 16,000

SPECIAL OLYMPICS TEXAS INC

500 CHESTNUT STREET STE 1821
ABILENE,TX79601 		  PC 2025 SPORTS PROGRAM 10,000

TEXAS FAMILY INSTITUTE

100 CHESTNUT SUITE 101
ABILENE,TX79602 		  PC OPERATIONS 2,200

TEXAS RAMP PROJECT

BOX 832065
RICHARDSON,TX75083 		  PC ABILENE RAMP PROJECT 10,000

UNITED WAY OF ABILENE

PO BOX 82
ABILENE,TX79604 		  PC 2024 CAMPAIGN 12,500
Total .................................right arrow 3a 875,900
bApproved for future payment

BOYS AND GIRLS CLUB
PO BOX 2013
ABILENE,TX79604 		  PC HEALTHY SNACK PROGRAM 20,000

FOOD BANK OF ABILENE INC
5505 NORTH 1ST STREET
ABILENE,TX79603 		  PC YEAR END NEED 5,000

HARDIN-SIMMONS UNIVERSITY
PO BOX 16000
ABILENE,TX79698 		  PC NEWMAN-RICHARDSON SCIENCE CENTER 250,000

MCMURRY UNIVERSITY
MCM STATION BOX 938
ABIILENE,TX79697 		  PC GARRISON STUDENT CENTER RENOVATION 300,000

SALVATION ARMY & ITS COMPONENTS
1726 BUTTERNUT
ABILENE,TX79602 		  PC WINDOW REPLACEMENT & HVAC CHILLER CONTROLS 55,000

SALVATION ARMY & ITS COMPONENTS
1726 BUTTERNUT
ABILENE,TX79602 		  PC 2026 - 2028 OPERATING FUNDS 75,000

TEXAS FAMILY INSTITUTE
100 CHESTNUT SUITE 101
ABILENE,TX79602 		  PC OPERATIONS 7,800

UNITED WAY OF ABILENE
PO BOX 82
ABILENE,TX79604 		  PC 2025 CAMPAIGN 12,500

YOUTH VOICE
1634 NORTH 1ST STREET
ABILENE,TX79601 		  PC RANDY NICHOLSON STATION FOR YOUTH 100,000
Total ................................. right arrow 3b 825,300
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 ....     14 731,594  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 514,803  
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 1,246,397 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,246,397
(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:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EIDE BAILLY LLP 6,015 0   6,015

TY 2024 InvestmentsCorpStockSchedule
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 17,184 95,207
ABBVIE INC 18,634 129,934
ACCENTURE PLC 99,804 186,806
ADP INC 28,032 246,720
ALPHABET INC 29,298 246,722
APPLE INC 10,694 143,619
BANK OF AMERICA CORP 149,948 179,816
CHEVRON CORP 97,170 171,828
CISCO SYSTEMS 62,600 197,733
CME GROUP INC 53,120 275,620
COCA-COLA COMPANY 46,431 113,200
CONOCO-PHILLIPS 68,800 179,480
HARTE HANKS STOCK 23,116,173 1,218,859
HONEYWELL INTL 99,172 151,372
IDEXX LABORATORIES INC 2,987 107,268
JOHNSON & JOHNSON 62,293 160,388
JPMORGAN CHASE 152,047 202,937
MCDONALDS CORP 36,979 146,085
MEDTRONIC PLC 75,668 87,170
MERCK & COMPANY INC 34,251 79,160
META PLATFORMS 151,045 221,427
METTLER-TOLEDO INTERNATIONAL INC 3,369 82,230
ORACLE CORP 89,720 546,575
PEPSICO INC 42,705 85,826
QUALCOMM INC 68,232 207,038
VISA INC 56,271 319,545
WABTEC 48,974 272,155
WILLIAMS 138,850 414,546

TY 2024 InvestmentsOtherSchedule2
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ARTISAN INTERNATIONAL FUND AT COST 359,856 708,351
DODGE & COX STOCK FUND AT COST 514,917 837,848
ISHARES IBONDS DEC 2025 TERM CORP ETF AT COST 500,352 508,636
ISHARES IBONDS DEC 2026 TERM CORP ETF AT COST 500,823 509,250
ISHARES MSCI JAPAN VALUE AT COST 386,247 486,500
PZENA EMERGING MARKETS VALUE AT COST 1,000,000 1,218,472
T ROWE PRICE EMERGING MARKETS VALUE STOCK AT COST 1,000,000 1,203,069
VANGUARD DEVELOPED MARKETS INDEX AT COST 761,775 1,483,905
VANGUARD EMERGING MARKETS STOCK INDEX AT COST 529,961 627,557
VANGUARD FTSE ALL WORLD EX US SMALL CAP INDEX AT COST 700,000 869,948
VANGUARD FTSE EMERGING MARKET AT COST 549,910 628,142
VANGUARD INTERMEDIATE TERM CORP BOND INEX ADMIRAL CL AT COST 1,750,000 1,596,818
VANGUARD INTERMEDIATE TERM INVEST GRADE ADMIRAL CL AT COST 1,750,000 1,546,618
VANGUARD INTL VALUE INVESTOR AT COST 1,250,000 1,423,092
VANGUARD TOTAL BOND MKT. INDEX AT COST 2,332,032 2,182,898
VANGUARD WINDSOR ADMIRAL AT COST 700,000 722,915

TY 2024 OtherAssetsSchedule
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
COMMUNITY COMMONS PARTNERSHIP 356,546 375,286 375,286


TY 2024 OtherExpensesSchedule
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INSURANCE EXPENSE 5,995 0   5,995
OFFICE EXPENSE 163 0   164
PROFESSIONAL DUES 830 0   830
GRANT ADMIN 24,000 0   24,000
COMMUNITY COMMONS INVESTMENT FEES 1,558 1,558   0


TY 2024 ReductionExplanationStatement
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Explanation:
AS OF JUNE 30, 2025 THE FOUNDATION OWNED 306,246 SHARES OF HARTE-HANKS, INC., WHICH REPRESENTS 4.16% OF THE OUTSTANDING SHARES OF THE COMPANY. NO SHARES WERE SOLD OR PURCHASED DURING THE YEAR.THE APPRAISAL FIRM OF GEORGE VALUATION ADVISORS APPRAISED THE BLOCKAGE DISCOUNT IN 2011. THEIR APPRAISAL CONCLUDED THAT A 12% BLOCKAGE DISCOUNT SHOULD BE USED. THERE HAVE BEEN NO SIGNIFICANT CHANGES SINCE THE DISCOUNT WAS CALCULATED, INCLUDING NO CHANGE IN OWNERSHIP.UNDER THE INTERNAL REVENUE CODE SECTION 4942, THE MAXIMUM BLOCKAGE DISCOUNT AVAILABLE FOR TAX PURPOSES IS 10%. THEREFORE, A 10% DISCOUNT WAS USED IN DETERMINING THE FAIR MARKET VALUE OF THE HARTE HANKS, INC. STOCK. THE AVERAGE DISCOUNT WAS $179,511.

TY 2024 TaxesSchedule
Name:
SHELTON FAMILY FOUNDATION
EIN:
75-2655885
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAX 18,997 0   0
PAYROLL TAXES 11,460 1,822   9,638