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
SHEPHERDS - A FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)950 EAST WAYZATA BOULEVARD 104
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WAYZATA, MN55391
A Employer identification number

47-3839311
B Telephone number (see instructions)

(307) 733-7457
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$38,940,260J 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 86,270 86,270  
4 Dividends and interest from securities... 669,837 669,837  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,745,338
b Gross sales price for all assets on line 6a 10,616,383
7 Capital gain net income (from Part IV, line 2)... 1,745,338
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........ 2,501,445 2,501,445  
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).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
338,184 287,456   50,728
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
52,603 19,603   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
25 25   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 390,812 307,084   50,728
25 Contributions, gifts, grants paid....... 1,603,333 1,603,333
26 Total expenses and disbursements. Add lines 24 and 25 1,994,145 307,084   1,654,061
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 507,300
b Net investment income (if negative, enter -0-) 2,194,361
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............. 9,940 3,915 3,915
2 Savings and temporary cash investments......... 5,906,267 1,290,670 1,290,670
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) 0 Click to see attachment
List of Attached Documents:
// Content
1,859,747 		1,859,747
b Investments—corporate stock (attach schedule)....... 22,834,910 Click to see attachment
List of Attached Documents:
// Content
26,620,765 		34,030,189
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).......... 2,347,723 Click to see attachment
List of Attached Documents:
// Content
1,831,043 		1,755,739
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) 31,098,840 31,606,140 38,940,260
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 31,098,840 31,606,140
29 Total net assets or fund balances (see instructions)..... 31,098,840 31,606,140
30 Total liabilities and net assets/fund balances (see instructions). 31,098,840 31,606,140
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
31,098,840
2
Enter amount from Part I, line 27a .....................
2
507,300
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
31,606,140
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
31,606,140
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 P    
b CAPITAL GAINS DIVIDENDS 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 10,606,821   8,871,045 1,735,776
b 9,562     9,562
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       1,735,776
b       9,562
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 1,745,338
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 30,502
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 30,502
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 30,502
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 22,532
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 22,532
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
8 721
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 8,691
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
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
 
No
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 arrowMN
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowWELLS FARGO Telephone no.right arrow (612) 316-0806

Located atright arrow950 EAST WAYZATA BOULEVARD SUITE104WAYZATAMN ZIP+4right arrow55391
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
JILL NEEDHAM MITHUN PRESIDENT
1.00 		0 0 0
PO BOX 765
TETON VILLAGE,WY83025
BECANAAN MCMILLON TREASURER
1.00 		0 0 0
PO BOX 765
TETON VILLAGE,WY83025
SHADE WILLIE MCMILLON OFFICER
1.00 		0 0 0
PO BOX 765
TETON VILLAGE,WY83025
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
36,745,098
b
Average of monthly cash balances.......................
1b
1,179,240
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
37,924,338
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
37,924,338
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
568,865
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
37,355,473
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,867,774
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
1,867,774
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
30,502
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
30,502
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,837,272
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,837,272
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
1,837,272
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
1,654,061
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
1,654,061
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 1,837,272
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...... 87,253
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........ 87,253
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 1,654,061
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..... 1,654,061
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 87,253 87,253
(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 .......... 		95,958
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 email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
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

BIG SKY YOUTH EMPOWER PROJECT

PO BOX 6757
BOZEMAN,MT59771 		NONE 501(C)(3) GENERAL FUND 73,333

CARVING THE FUTURE

PO BOX 12768
JACKSON,WY83002 		NONE 501(C)(3) GENERAL FUND 100,000

CHILDREN'S LEARNING CENTER OF JACKSON WY

PO BOX 4100
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 200,000

FRIENDS OF THE TETON RIVER INC

18 NORTH MAIN STREET 310
DRIGGS,ID83422 		NONE 501(C)(3) GENERAL FUND 50,000

HABITAT FOR HUMANITY

PO BOX 4194
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 24,000

KAHAKUKAHI FOUNDATION

657 KAI HELE KU STREET
LAHAINA,HI96761 		NONE 501(C)(3) GENERAL FUND 10,000

REVERT FOUNDATION

PO BOX 332
GRASS VALLEY,CA95945 		NONE 501(C)(3) GENERAL FUND 40,000

SEATAC BMX

1855 SOUTH 136TH ST
SEATAX,WA98168 		NONE 501(C)(3) GENERAL FUND 60,000

SNAKE RIVER FUND

125 SOUTH KING STREET
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 50,000

SPREAD THE LOVE COMMISSION

PO BOX 13743
JACKSON,WY83002 		NONE 501(C)(3) GENERAL FUND 205,000

TETON COUNTY SEARCH AND RESCUE FOUNDATION

300 SOUTH BATCH PLANT ROAD
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 100,000

WELCOME HOME ALLIANCE FOR VETERANS

4 HILLCREST PLAZA WAY
MONTROSE,CO81401 		NONE 501(C)(3) GENERAL FUND 50,000

WONDERFOLK

5131 NORTHEAST 35TH PLACE
PORTLAND,OR97211 		NONE 501(C)(3) GENERAL FUND 250,000

ALAS UTAH

2646 RANCH ROAD
EAGLE MOUNTAIN,UT84005 		NONE 501(C)(3) GENERAL FUND 50,000

ASTORIA HOT SPRINGS AND PARK

25 WEST JOHNNY COUNTS ROAD
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 70,000

DANCERS' WORKSHOP

PO BOX 1500
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 10,000

GALLATIN VALLEY LAND TRUST

212 SOUTH WALLACE AVENUE SUITE 101
BOZEMAN,MT59715 		NONE 501(C)(3) GENERAL FUND 7,000

GREATER YELLOWSTONE COALITION

215 SOUTH WALLACE AVENUE
BOZEMAN,MT59715 		NONE 501(C)(3) GENERAL FUND 7,000

LAND TRUST ALLIANCE

1250 H STREET NORTHWEST 600
WASHINGTON,DC20005 		NONE 501(C)(3) GENERAL FUND 50,000

LAUNCHPAD FOUNDATION

2200 LAKE AVENUE SUITE 230
FORT WAYNE,IN46805 		NONE 501(C)(3) GENERAL FUND 10,000

TETON REGIONAL LAND TRUST

1520 SOUTH 500 WEST ID-33 SCENIC
DRIGGS,ID83422 		NONE 501(C)(3) GENERAL FUND 150,000

TUMBLEWEED CREATIVE ARTS

50 WEST BROADWAY
JACKSON,WY83001 		NONE 501(C)(3) GENERAL FUND 20,000

VAN VLECK HOUSE

21 VAN VLECK STREET
MONTCLAIR,NJ07042 		NONE 501(C)(3) GENERAL FUND 10,000

WILD MONTANA

80 SOUTH WARREN STREET
HELENA,MT59601 		NONE 501(C)(3) GENERAL FUND 7,000
Total .................................right arrow 3a 1,603,333
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 86,270  
4 Dividends and interest from securities ....     14 669,837  
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 ............ 		    18 1,745,338  
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 2,501,445 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
2,501,445
(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 InvestmentsCorpStockSchedule
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES 160,246 170,796
ABBVIE INC 120,157 139,317
ACCENTURE PLC IRELAND 136,219 157,602
AMERICAN EXPRESS COMPANY 81,415 146,317
ANALOG DEVICES INC 133,268 166,144
AON PLC 130,218 193,587
BOEING CO 187,693 167,265
CHUBB LTD 81,468 135,111
CIGNA CORP 208,906 238,309
CITIGROUP INC 84,207 116,636
CONOCOPHILLIPS COP 165,023 199,530
DIAGEO PLC 128,563 110,349
DOMINION ENERGY INC 199,118 174,722
DUKE ENERGY CORP 145,182 170,014
EATON CORP PLC 47,128 108,853
EXXON MOBIL CORP 215,625 207,610
GENL DYNAMICS CORP 132,734 151,243
ILLINOIS TOOL WORKS INC 81,107 114,102
JOHNSON & JOHNSON 165,591 154,020
JPMORGAN CHASE & CO 169,920 297,960
KENVUE INC 115,366 107,583
KKR & CO INC 71,638 145,691
KLA CORP 48,143 77,505
LOWES COMPANIES INC 102,177 131,544
MARRIOTT INTL INC 90,353 138,354
MARSH AND MCLENNAN COMPANIES INC 79,925 138,916
MCKESSON CORPORATION MCK 110,839 233,663
MONDELEZ INTL 125,381 105,483
MORGAN STANLEY & CO 122,169 179,025
NASDAQ INC 71,085 111,481
NESTLE 113,026 93,301
NXP SEMICONDUCTORS NV 95,280 94,156
PACCAR INC 159,075 174,338
PEPSICO INCORPORATED 140,352 137,158
PFIZER INCORPORATED 184,150 136,178
PROGRESSIVE CORP OHIO 130,202 265,488
PROLOGIS INC 179,790 157,387
RTX CORP 104,552 146,039
SOUTHERN COMPANY 120,165 162,994
TARGET CORP 73,375 72,186
UNION PACIFIC CORP 128,881 151,191
ADIDAS AG-SPON 53,547 53,457
ADOBE SYSTEMS INC 54,724 46,247
ADVANCED MICRO DEVICES INC 53,537 61,361
AIRBNB INC 77,162 66,493
ALPHABET INC NONVOTING 207,227 256,332
AMAZON COM INC 278,294 547,159
ANALOG DEVICES INC 35,860 32,719
APPLE INC 182,262 373,627
APPLOVIN CORP 26,599 26,554
ASTRAZENECA PLC 41,170 39,574
BOEING CO 116,409 106,908
BROADCOM INC 122,330 355,179
CADENCE DESIGN SYSTEMS INC 84,081 102,757
COSTCO WHSL CORP 58,484 130,110
CROWDSTRIKE HLDGS INC 51,052 83,829
DATADOG INC 48,513 56,442
DEXCOM INC 29,950 33,130
DISNEY WALT COMPANY 108,113 110,793
EATON CORP PLC 55,459 57,745
EDWARDS LIFESCIENCE CORP 33,178 32,943
ELI LILLY & CO 49,621 164,436
FLUTTER ENTERTAINMENT PLC 19,919 19,125
GE AEROSPACE 57,782 58,377
GOLDMAN SACHS GROUP INC 29,798 44,664
HILTON WORLDWIDE HOLDINGS INC 55,153 62,037
HOME DEPOT INC 42,321 45,512
INDUSTRIA DE DISENO TEXTILE 28,459 24,464
INTUITIVE SURGICAL INC 40,076 74,118
MARRIOTT INTL INC 24,658 38,773
MERCADOLIBRE INC 86,084 124,132
MASTERCARD INC 104,350 163,237
META PLATFORMS INC 180,159 357,747
MICROSOFT CORP 231,817 448,055
MOODY'S CORP 44,383 64,378
NETFLIX.COM INC 131,096 257,591
NOVO NORDISK 58,773 86,364
NVIDIA CORP 85,231 591,547
O'REILLY AUTOMOTIVE INC 60,670 88,935
PALO ALTO NETWORKS 37,434 42,579
PROGRESSIVE CORP OHIO 63,739 69,247
SALESFORCE.COM 66,311 80,239
SERVICENOW INC 55,359 113,433
SNOWFLAKE INC 71,026 46,941
SPOTIFY TECHNOLOGY 43,473 42,054
TESLA INC 76,246 212,824
TJX COS INC 19,650 39,384
TRADE DESK INC 51,748 75,572
UBER TECHNOLOGIES INC 52,620 73,349
VERTEX PHARMACEUTICALS INC 80,265 86,178
VERTIV HOLDINGS LLC 46,141 47,148
VISA INC 86,184 120,095
WALMART INC 101,174 116,009
ABBVIE INC 38,478 40,871
ALEXANDRIA REAL ESTATE 39,450 32,777
AMCOR PLC 20,080 18,735
AMERICAN ELECTRIC POWER INC 32,263 34,678
AMGEN INC 42,142 38,575
AT&T INC 26,607 35,635
BANK MONTREAL QUEBEC 33,868 35,617
BRISTOL MYERS SQUIBB 54,916 63,291
CDN INPERIAL BK COMMRC 13,285 17,641
CHEVRON CORPORATION 60,690 57,357
COCA-COLA COMPANY 29,791 30,756
DIAGEO PLC 33,126 32,418
DUKE ENERGY CORP COM 37,710 41,049
ENBRIDGE INC 56,055 63,900
ENTERGY CORP NEW 21,384 31,086
EXXON MOBIL CORP 25,584 22,912
GILEAD SCIENCES INC 55,413 65,860
HUNTINGTON BANCSHRES INC 31,965 40,203
JOHNSON & JOHNSON 48,817 44,398
KENVUE INC 28,688 28,694
LYONDELLBASEL INDUSTRIES 51,552 41,071
MORGAN STANLEY & CO 20,455 25,773
NATIONAL GRID PLC 59,382 50,032
PAYCHEX INC 23,596 25,800
PEPSICO INCORPORATED 39,506 34,670
PFIZER INCORPORATED 44,554 35,922
PHILIP MORRIS INTERNATIONAL INC 39,115 49,464
PNC FINANCIAL SERVICES GROUP 39,177 48,213
PPL CORPORATION 23,908 26,033
PROLOGIS INC 45,916 40,377
REALTY INCOME CORP 41,349 38,882
SANOFI ADR 52,985 51,027
SOUTHERN COMPANY 24,578 28,236
TC ENERGY CORP 38,406 47,414
TOTALENERGIES 65,597 55,863
TRUIST FINL CORP 40,482 41,645
UNITED PARCEL SERVICE 30,154 22,572
US BANCORP 53,786 57,348
VERIZON COMMUNICATIONS COM 71,039 66,743
WEC ENERGY GROUP 18,194 19,842
WILLIAMS COMPANIES INC 13,839 21,323
XCEL ENERGY INC 46,520 54,151
AMERICAN HEALTHCARE REIT 32,001 52,691
AMERICAN HOMES 4 RENT 73,360 84,195
AMERICAN TOWER CORP 297,284 259,158
AMERICOLD REALTY TRUST 67,918 52,066
AVALONBAY COMMUNITIES REIT 155,670 166,957
BROADSTONE NET LEASE INC 49,067 40,300
COUSINS PPTYS INC 60,663 56,868
DIGITAL REALTY TRUST INC 67,040 111,718
EQUINIX INC 212,647 264,009
EQUITY RESIDENTIAL 74,264 79,008
EQUITY LIFESTYLE PROP 48,233 46,354
ESSEX PROPERTY TRUST INC 61,064 56,803
EXTRA SPACE STORAGE INC 141,078 147,506
GAMING AND LEISURE PROPERTIES INC 62,260 58,370
HEALTHCARE REALTY TR INC 67,109 61,722
INVENTRUST PPTYS CORP 14,248 17,204
INVITATION HOMES INC 102,810 100,354
KILROY RLTY CORP 49,899 29,812
LINEAGE INC 26,647 18,977
MARRIOTT VACATIONS WORLDWIDE CORP 37,429 20,385
NATIONAL HEALTH INVS INC 19,295 26,265
NETSTREIT CORP 25,955 19,386
NNN REIT 35,337 34,600
PROLOGIS INC 161,092 166,900
REGENCY CENTERS CORP 105,776 119,175
REXFORD IND REALTY INC 78,565 53,969
RYMAN HOSPITALITY 56,090 55,300
SABRA HEALTH CARE REIT INC 49,562 61,036
SAUL CENTERS INC 7,888 6,286
SBA COMMUNICATIONS CORP 106,141 103,327
SIMON PROPERTY GROUP REIT INC 21,471 28,070
SUNSHINE HOTEL INVESTORS 20,107 19,737
TERRENO REALTY CORP 41,457 40,866
VENTAS INC 165,562 181,381
VICI PPTYS INC 97,615 106,529
VORNADO REALTY TR REIT 41,004 43,595
WELLTOWER INC 126,880 225,090
WEYERHAEUSER CO 28,668 24,209
AIB GRP PLC 13,110 13,195
ASE TECHNOLOGY 14,459 20,774
BAE SYSTEMS PLACE 9,371 21,035
BCE INC 3,534 1,553
BHP BILLITON LTD 2,780 2,100
BNP PARIBAS 15,389 13,692
BRITISH AMERN TOB PLC 22,059 20,376
COCA-COLA EUROPACIFIC 18,354 21,737
COCA-COLA FEMSA 14,466 19,239
COMPAGNIE 7,853 13,491
DEUTSCHE POST 7,539 7,329
DEUTSCHE TELEKOM 12,869 22,268
DIAGEO PLC 10,761 10,552
DNB BANK ASA 15,867 15,044
ENEL SOCIETA PER AZIONI 24,696 25,276
GLENCORE PLC 523 402
HAIER SMART HOME CO 13,218 10,976
IBERDROLA 22,472 23,931
JULIUS BAER GROUP LTD 12,769 14,126
KOMATSU LTD 21,245 21,064
MERCEDES-BENZ GROUP 12,833 9,854
MICHELIN 12,293 13,079
MS&AD INS GROUP HLDGS 16,916 23,294
MUENCHENER 13,940 23,747
NESTLE 21,180 16,095
NIPPON TELEGRAPH & TELEPHONE CORP 21,806 19,824
NN GRP 12,660 13,017
NOVARTIS 24,454 29,680
PERNOD RICARD 4,284 4,091
PETROLEO BRASILEIRO 20,248 15,715
POWER CORP 16,899 16,879
RIO TINTO PLC 15,337 13,644
ROCHE HOLDINGS LTD 13,971 13,568
SANOFI 5,969 5,788
SIEMENS 17,093 26,394
SHELL PLC 14,111 15,850
SMURFIT KAPPA GROUP 26,460 32,316
SOFTBANK CORP 23,843 24,267
SONIC HEALTHCARE LTD 7,031 5,538
SVENSKA 8,140 8,585
TAYLOR WIMPEY 17,162 12,173
TESCO PLC SPON 18,166 21,044
TOKIO MARINE HOLDING 12,875 25,250
TOTALENERGIES SE 11,413 9,810
TOYOTA MTR CORP 11,204 14,790
UNITED OVERSEAS BK LTD 21,529 30,510
UPM-KYMMENE CORP 9,583 9,781
VEOLIA ENVIRONMENT 7,158 7,966
VOLVO 8,688 9,346
ZURICH INSURANCE GROUP 16,299 30,224
3I GROUP PLC 6,759 18,758
ACUSHNET HOLDINGS CORP 99,351 185,448
ARTISAN PARTNERS ASSET MANAGEMENT INC 86,920 109,218
ASPEN TECHNOLOGY INC 57,307 88,619
BANCFIRST CORP 76,222 95,853
CLEARWATER ANALYTICS HOLDINGS INC 79,057 102,705
CORVEL CORP 93,306 176,236
DONALDSON COMPANY INC 32,419 47,145
EMCOR GROUP INC 51,040 213,333
FACTSET RESEARCH SYSTEMS INC 82,937 123,432
FIRST HAWAIIAN INC 119,013 128,504
FTI CONSULTING INC 145,611 248,660
GRACO INCORPORATED COM 95,903 146,917
JACK HENRY & ASSOC INC 42,736 57,323
K.FORCE INC 52,273 48,082
KADANT INC 78,278 103,497
LANDSTAR SYSTEMS INC 173,132 173,750
LCI INDUSTRIES 107,013 79,197
MANHATTAN ASSOCIATES INC 44,773 128,364
MOELIS & CO 77,210 165,122
PRIMERICA INC 111,599 282,277
R L I CORP 60,438 98,404
RBC BEARINGS INC 68,033 140,895
RIGHTMOVE PLC 123,804 136,302
SIMPSON MANUFACTURING INC 154,473 276,439
TORO COMPANY 193,183 196,966
UFP INDUSTRIES INC 120,460 134,955
WATTS WATER TECHNOLOGIES 121,576 179,514
ADYEN N V 13,331 11,420
AIA GROUP LTD 13,584 10,779
ALCON INC 12,433 12,903
AIR LIQUIDE 8,733 8,740
ALFA LAVAL AB-UNSPON 10,943 12,584
ALLIANZ SE 24,165 31,365
AMBEV SA 10,891 7,485
ASSA ABLOY AB 7,172 9,581
ATLAS COCOP 12,097 13,345
BANCO BILBAO VIZCAYA ARGENTARIA 12,557 16,038
BHP BILLITON LTD 14,879 12,208
CANADIAN NATL RY CO 6,489 7,004
CHUGAI PHARMACEUTICAL CO 15,785 23,530
COLOPLAST 8,169 6,983
CREDICORP 8,042 9,349
DAIFUKU CO 5,415 6,174
DASSAULT SYSTEMS 25,436 20,871
DBS GROUP HOLDINGS 26,775 37,516
DISCO CORP 9,671 9,751
ENN ENERGY HLDGS LTD 16,631 12,090
EPIROC AKTIEBOLAG 11,429 10,451
FOMENTO ECONOMICO MEXICANO 21,121 17,782
GENMAB 9,433 5,656
GRUPO FINANCIERO BANORTE 8,236 6,773
HAIER SMART HOME CO 10,228 12,040
HALEON PLC 20,441 22,944
HDFC BANK LTD 24,506 25,608
INFINEON TECHNOLOGIES 27,149 23,479
KOMATSU LTD 10,944 10,682
LINDE PLC 10,670 11,723
LOREAL CO 23,656 18,659
MANULIFE FINL 14,092 22,510
MERCADOLIBRE INC 11,317 11,903
NESTLE 20,190 15,768
NOVOZYMES 5,353 6,276
PERUSAHAAN PERSEROAN PERSERO PT 11,715 8,258
PING AN INSURANCE 6,300 5,482
RIO TINTO PLC 13,516 12,468
ROCHE HOLDINGS LTD 20,305 19,358
SCHNEIDER ELECTRIC 7,426 22,090
SAP SE 13,704 24,867
SHELL PLC 24,076 23,055
SHIMANO INC 5,779 5,151
SHIONOGI & CO LTD 7,729 7,517
SONOVA HOLDING 6,941 8,455
SONY GROUP CORP 16,807 20,483
SYSMEX CORP 15,316 15,373
SYMRISE 9,367 9,825
TAIWAN SEMICONDUCTOR 8,129 32,388
TECHTRONIC INDS LTD 9,175 8,070
TENCENT HOLDINGS LTD 14,644 16,539
UNICHARM CORP 10,997 5,424
XP INC 8,518 8,387
AGILENT TECH INC 36,653 31,973
ALLY FINANCIAL 93,271 88,116
AMETEK INC 83,110 97,701
APOLLO GLOBAL MGMT INC 72,663 138,900
ARGENX 56,321 97,785
ARISTA NETWORKS INC 24,512 66,318
AVANTOR INC 78,682 71,659
BURLINGTON STORES INC 121,506 162,769
BWX TECHNOLOGIES 61,964 83,208
CADENCE DESIGN SYSTEMS INC 36,958 48,374
CBRE GROUP INC 71,407 101,618
CHENIERE ENERGY INC 111,604 151,698
CHURCHILL DOWNS INC 102,847 107,633
COOPER COS INC 117,446 113,442
COSTAR GROUP INC 70,163 60,207
CROWDSTRIKE HLDGS INC 116,692 164,579
CYBER-ARK SOFTWARE 101,748 136,258
DATADOG INC 125,103 175,469
DOMINO'S PIZZA INC 93,038 101,582
EAST WEST BANCORP 81,539 100,644
ELF BEAUTY 77,714 53,610
ENTEGRIS 79,251 57,158
EXACT SCIENCES CORP 125,721 103,558
FRESHPET INC 67,428 103,381
GARTNER INC 72,257 89,142
GENERAC HOLDINGS INC 43,491 44,965
GFL ENVIRONMENTAL INC 104,619 134,288
GLOBANT 105,458 109,569
HEICO CORP NEW 73,799 113,164
HILTON WORLDWIDE HOLDINGS INC 67,904 114,929
HOULIHAN LOKEY 58,321 59,565
HUBBELL INC 63,496 61,996
HUBSPOT INC 116,482 170,709
ILLUMINA INC 92,404 94,076
INSULET CORP 91,438 99,990
J B HUNT TRANSPORT SERVICE INC 56,514 70,483
KBR INC 23,615 20,102
LENNAR CORPORATION 43,045 46,775
LPL FINANCIAL HOLDINGS 70,717 87,831
MARVELL TECHNOLOGY INC 70,657 145,352
MICROCHIP TECHNOLOGY INC 40,074 25,291
MONDAY COM 66,237 55,093
MONOLITHIC POWER SYSTEMS 128,207 84,613
NATERA INC 27,458 63,953
O'REILLY AUTOMOTIVE INC 123,752 189,728
ON HOLDING AG 72,582 127,833
PERFORMANCE FOOD GROUP CO 94,683 150,922
PERMIAN RES CORP 61,837 53,810
PINTEREST INC 103,661 108,460
POOL CORP 62,596 56,255
PROCOE TECHNOLOGIES INC 64,364 63,765
QUANTA SVCS INC 42,232 82,489
RYAN SPECIALTY GROUP HOLDINGS INC 74,476 80,008
SAIA INC 98,253 98,893
SAMSARA INC 69,357 60,380
SHIFT4 PAYMENTS INC 114,769 177,360
STANDARDAERO 33,614 27,508
TAKE-TWO INTERACTIVE SOFTWARE INC 95,665 115,602
TEXAS ROADHOUSE INC 87,414 112,227
TELEDYNE TECHNOLOGIES 68,657 69,620
TOAST INC 20,667 19,391
TRADE DESK INC 81,671 140,213
UNIVERSAL DISPLAY CORP 64,653 61,258
VERTIV HOLDINGS LLC 117,461 120,086
VISTRA CORP 67,837 98,301
WATSCO INC 65,261 78,192
XYLEM INC 77,686 71,352
ZURN WTR SOLUTIONS CORP 62,587 73,630
ENERGY SELECT ETF 75,820 69,213
FIRST TR GLOBAL 96,682 91,245
GOLDMAN SACHS 250,536 479,494
INVESCO OPTIMUM 119,671 93,645
ISHARES 262,270 273,990
ISHARES CORE MSCI 620,909 654,447
ISHARES CORE S&P MID 140,168 224,316
ISHARES CORE S&P 500 775,510 1,255,066
ISHARES INC 413,101 378,438
SECTOR SPDR TR 44,023 131,606
VANGUARD FTSE 322,945 345,500
VANGUARD INTL EQUITY 257,126 234,425
VANGUARD MID CAP 485,682 580,558

TY 2024 InvestmentsGovtObligationsSch
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
US Government Securities - End of Year Book Value:

1,859,747
US Government Securities - End of Year Fair Market Value:

1,859,747
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 InvestmentsOtherSchedule2
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
AUTOMATIC DATA PROCESSNG AT COST 100,524 99,196
NORTHERN TRUST CORP AT COST 50,326 49,697
CHEVRON CORP AT COST 151,152 148,622
CHARLES SCHWAB CORP AT COST 200,744 197,062
EXXON MOBIL CORPORATION AT COST 251,771 246,068
GE CAPITAL AT COST 50,852 49,416
APPLE INC AT COST 203,100 195,984
KAISER FOUNDATION HOSPIT AT COST 153,393 145,245
CATERPILLAR FINL SERVICE AT COST 49,629 47,051
NOVARTIS CAPITAL CORP AT COST 101,699 96,962
TOYOTA MOTOR CREDIT CORP AT COST 258,364 238,408
PFIZER INCORPORATED AT COST 259,489 242,028

TY 2024 OtherExpensesSchedule
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
MN FILING FEE 25 25   0


TY 2024 OtherProfessionalFeesSchedule
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADMINISTRATION FEES 338,184 287,456   50,728


TY 2024 TaxesSchedule
Name:
SHEPHERDS - A FAMILY FOUNDATION
EIN:
47-3839311
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 19,603 19,603   0
FEDERAL TAXES 33,000 0   0