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
DAN L DUNCAN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 4735
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HOUSTON, TX77210
A Employer identification number

20-0265572
B Telephone number (see instructions)

(713) 381-5200
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$878,596,130J 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) 197,679
2 Check right arrow.............
3 Interest on savings and temporary cash investments 725,282 725,282  
4 Dividends and interest from securities... 14,160,196 14,160,196  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 28,479,898
b Gross sales price for all assets on line 6a 59,041,947
7 Capital gain net income (from Part IV, line 2)... 27,109,519
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
6,892,169 6,936,482  
12 Total. Add lines 1 through 11........ 50,455,224 48,931,479  
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)......... Click to see attachment
List of Attached Documents:
// Content
8,777 0   8,777
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
18,609 9,305   9,304
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
695,028 695,028   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
348,307 133,307   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
18,371 0   18,371
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,089,092 837,640   36,452
25 Contributions, gifts, grants paid....... 39,519,544 39,519,544
26 Total expenses and disbursements. Add lines 24 and 25 40,608,636 837,640   39,555,996
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 9,846,588
b Net investment income (if negative, enter -0-) 48,093,839
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............. 1,260,734 1,167,581 1,167,581
2 Savings and temporary cash investments......... 6,605,343 2,143,464 2,143,464
3 Accounts receivable right arrow360,639
Less: allowance for doubtful accounts right arrow   985,980 360,639 360,639
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) 51,304,863 Click to see attachment
List of Attached Documents:
// Content
45,829,509 		38,255,554
b Investments—corporate stock (attach schedule)....... 187,571,432 Click to see attachment
List of Attached Documents:
// Content
196,672,347 		233,650,393
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).......... 442,958,592 Click to see attachment
List of Attached Documents:
// Content
454,359,992 		603,018,499
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) 690,686,944 700,533,532 878,596,130
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 690,686,944 700,533,532
29 Total net assets or fund balances (see instructions)..... 690,686,944 700,533,532
30 Total liabilities and net assets/fund balances (see instructions). 690,686,944 700,533,532
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
690,686,944
2
Enter amount from Part I, line 27a .....................
2
9,846,588
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
700,533,532
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
700,533,532
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 BROKERAGE ACCOUNTS - CAPITAL GAIN DISTRIBUTIONS P    
b BROKERAGE ACCOUNTS - LT P    
c BROKERAGE ACCOUNTS - ST P    
d PASSTHROUGH LT 1256 P    
e PASSTHROUGH LT GAIN/LOSS P    
PASSTHROUGH LT GAIN/LOSS - UBTI P    
PASSTHROUGH ST 1256 P    
PASSTHROUGH ST GAIN/LOSS P    
PASSTHROUGH ST GAIN/LOSS - UBTI P    
ALTERNATIVE INVESTMENT 28 P    
ALTERNATIVE INVESTMENT 35 P    
ALTERNATIVE INVESTMENT 40 P    
PARTNERSHIP COMPLETION 1 P    
PARTNERSHIP COMPLETION 2 P    
PARTNERSHIP COMPLETION 3 P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,592,819     1,592,819
b 31,669,485   26,399,686 5,269,799
c 2,979,125   3,099,952 -120,827
d     124,262 -124,262
e 15,099,195     15,099,195
293,307   293,307 0
    82,841 -82,841
    855,160 -855,160
1,077,072   1,077,072 0
1,307,082     1,307,082
1,186,911     1,186,911
3,829,405     3,829,405
1,935     1,935
5,611     5,611
    148 -148
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       1,592,819
b       5,269,799
c       -120,827
d       -124,262
e       15,099,195
      0
      -82,841
      -855,160
      0
      1,307,082
      1,186,911
      3,829,405
      1,935
      5,611
      -148
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 27,109,519
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) 1 668,504
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........................... 3 668,504
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- ..... 5 668,504
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 395,542
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 200,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 595,542
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 72,962
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowTX
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
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 arrowLAURA LIANG Telephone no.right arrow (713) 381-5200

Located atright arrowDUNCAN FAMILY OFFICE1100 LOUISIANASTHOUSTONTX ZIP+4right arrow77002
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)
Yes
 
(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)
 
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
 
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
RANDA DUNCAN WILLIAMS CHAIR/PRES/DIR
1.00 		0 0 0
PO BOX 4735
HOUSTON,TX77210
RICHARD H BACHMANN VICE CHAIRMAN/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
DANNINE GALE DUNCAN VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
MILANE DUNCAN FRANTZ VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
SCOTT D DUNCAN VICE PRES/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
W RANDALL FOWLER CFO/DIR
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
GREGG HAMMER CIO
0.50 		0 0 0
PO BOX 4735
HOUSTON,TX77210
LAURA LIANG CGO/SECRETARY
1.00 		0 0 0
PO BOX 4735
HOUSTON,TX77210
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
POLEN GROWTH INVESTMENT MANAGEMENT 306,441
1825 NW CORPORATE BLVD 300
BOCA RATON,FL33431
DODGE & COX INVESTMENT MANAGEMENT 232,233
555 CALIFORNIA STREET 40TH FLOOR
SAN FANCISCO,CA94104
LOOMIS SAYLES INVESTMENT MANAGEMENT 76,116
PO BOX 7247-6804
PHILADELPHIA,PA19170
CLEARBRIDGE INVESTMENTS INVESTMENT MANAGEMENT 68,930
ONE MADISON AVE
NEW YORK,NY10010
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
285,879,626
b
Average of monthly cash balances.......................
1b
14,653,501
c
Fair market value of all other assets (see instructions)................
1c
577,992,065
d
Total (add lines 1a, b, and c).........................
1d
878,525,192
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
878,525,192
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
13,177,878
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
865,347,314
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
43,267,366
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
43,267,366
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
668,504
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
255,424
c
Add lines 2a and 2b............................
2c
923,928
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
42,343,438
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
42,343,438
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
42,343,438
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
39,555,996
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
39,555,996
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 42,343,438
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 39,519,544
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$ 39,555,996
a Applied to 2023, but not more than line 2a 39,519,544
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..... 36,452
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 .......... 		42,306,986
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

ARROW CHILD AND FAMILY MINISTRIES

2929 FM 2920 ROAD
SPRING,TX773883248 		N/A PC SOCIAL SERVICES 5,000

ASCENSION SETON FOUNDATION

6001 KYLE PARKWAY
KYLE,TX78640 		N/A PC MEDICAL PROGRAMS 400,000

B I G LOVE CANCER CARE SERVICES

324 TIMBERCREEK DR
LAKE JACKSON,TX775664923 		N/A PC MEDICAL PROGRAMS 10,000

BASTROP COUNTY ESD NO 1

1965 FM 20
RED ROCK,TX78662 		N/A PC EQUIPMENT 95,000

BAYLOR COLLEGE OF MEDICINE

ONE BAYLOR PLAZA MSBCM 160
HOUSTON,TX77030 		N/A SO I MEDICAL PROGRAMS 1,071,378

BEL INIZIO

9801 W HEIMER RD NUM 300
HOUSTON,TX77042 		N/A PC SOCIAL SERVICES 5,000

BOOKS BETWEEN KIDS

PO BOX 25072
HOUSTON,TX77265 		N/A PC EDUCATIONAL SERVICES 12,500

BOYS AND GIRLS CLUBS OF GREATER HOUSTON INC

815 CROSBY ST
HOUSTON,TX770193054 		N/A PC SOCIAL SERVICES 7,500

BRAZOS EMPLOYMENT ENTERPRISES

3829 OLD COLLEGE RD
HOUSTON,TX77801 		N/A PC EDUCATIONAL SERVICES 7,500

BRENDA AND JOHN H DUNCAN RISE SCHOOL OF HOUSTON

5618 H MARK CROSSWELL JR ST
HOUSTON,TX770211079 		N/A PC EDUCATIONAL SERVICES 15,000

CAREERSPRING

PO BOX 1682
BELLAIRE,TX77402 		N/A PC SOCIAL SERVICES 200,000

CHAMBERS COUNTY CHILDREN'S MUSEUM

10955 EAGLE DRIVE
MONT BELVIEU,TX77523 		N/A PC EDUCATIONAL SERVICES 600,000

CITIZENS FOR ANIMALS OF MIDLAND ODESSA INC

PO BOX 921
PINEHURST,TX773620921 		N/A SO I ANIMAL PROTECTION AND WELFARE 5,000

CITY OF SMITHVILLE

PO BOX 449
SMITHVILLE,TX78957 		N/A GOV SOCIAL SERVICES 60,000

CRISTO REY JESUIT COLLEGE PREPARATORY SCHOOL OF HOUSTON

6700 MOUNT CARMEL SREET
HOUSTON,TX77087 		N/A PC EDUCATIONAL SERVICES 80,000

DEPELCHIN CHILDREN'S CENTER

4950 MEMORIAL DRIVE
HOUSTON,TX77007 		N/A PC SOCIAL SERVICES 12,500

DIAMOND BAR CONSERVATION

200 CONCORD PLAZA DRIVE SUITE 410
SAN ANTONIO,TX78216 		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 1,500,000

DIETRICH BONHOEFFER ACADEMY

4600 BELLAIRE BLVD
BELLAIRE,TX77401 		N/A PC EDUCATIONAL SERVICES 5,000

DISABLED OUTDOORSMEN USA INC

115 RANGER CREEK RD
BOERNE,TX780065624 		N/A PC SOCIAL SERVICES 5,000

ECHOS

9894 BISSONNET STREET SUITE 900
HOUSTON,TX770368272 		N/A PC SOCIAL SERVICES 5,000

EPISCOPAL HIGH SCHOOL

4650 BISSONNET
BELLAIRE,TX77401 		N/A PC EDUCATIONAL SERVICES 714,286

FOSTER VILLAGE HOUSTON AFFILIATE

PO BOX 401
BARKER,TX774130401 		N/A PC SOCIAL SERVICES 5,000

GALVESTON BAY FOUNDATION

1725 HIGHWAY 146
KEMAH,TX77565 		N/A PC ENVIRONMENT SERVICES 500,000

GALVESTON HISTORICAL FOUNDATION

2002 STRAND SUITE 200
GALVESTON,TX77550 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 175,000

GALVESTON ISLAND HUMANE SOCIETY INC

6814 BROADWAY ST
GALVESTON,TX775548908 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

GALVESTON URBAN MINISTRIES

3727 BALL STREET
GALVESTON,TX77550 		N/A PC SOCIAL SERVICES 25,000

GIRL SCOUTS OF SAN JACINTO COUNCIL

3110 SOUTHWEST FREEWAY
HOUSTON,TX77098 		N/A PC EDUCATIONAL SERVICES 505,000

GOLDEN BEGINNINGS GOLDEN RETRIEVER RESCUE INC

PO BOX 940325
HOUSTON,TX770947325 		N/A PC ANIMAL PROTECTION AND WELFARE 7,500

GREATER HOUSTON COMMUNITY FOUNDATION

515 POST OAK BLVD SUITE 1000
HOUSTON,TX77027 		N/A PC EDUCATION AND SUPPORT OF THE HOUSTON COMMUNITY 19,759,772

HELPING PAWS IN CHAMBERS COUNTY

PO BOX E
ANAHUAC,TX77514 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

HEROES FOR CHILDREN

6010 W SPRING CREEK PKWY
PLANO,TX75024 		N/A PC SOCIAL SERVICES 7,500

HILLEL THE FOUNDATION FOR JEWISH CAMPUS LIFE

1700 BISSONNET ST
HOUSTON,TX770051710 		N/A PC EDUCATIONAL SERVICES 7,500

HOUSTON AREA WOMEN'S CENTER

1010 WAUGH DRIVE
HOUSTON,TX77019 		N/A PC SOCIAL SERVICES 200,000

HOUSTON FOOD BANK

535 PORTWALL ST
HOUSTON,TX77029 		N/A PC SOCIAL SERVICES 400,000

HOUSTON HOSPICE

1905 HOLCOMBE BLVD
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 125,000

HOUSTON METHODIST HOSPITAL FOUNDATION

1701 SUNSET BOULEVARD
HOUSTON,TX77005 		N/A SO I MEDICAL PROGRAMS 125,000

HOUSTON MUSEUM OF NATURAL SCIENCE

5555 HERMANN PARK DR
HOUSTON,TX770301718 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 2,388,366

HOUSTON PETS ALIVE

2800 ANTOINE DRIVE SUITE 2854
HOUSTON,TX77092 		N/A PC ANIMAL PROTECTION AND WELFARE 25,000

HOUSTON SPCA

7007 OLD KATY ROAD
HOUSTON,TX77024 		N/A PC ANIMAL PROTECTION AND WELFARE 30,000

HOUSTON ZOO INC

1513 CAMBRIDGE STREET
HOUSTON,TX77030 		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 1,514,112

JACINTO CITY DOG POUND RESCUE

21320 PLAZA CIR
CROSBY,TX775326835 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

K-9 ANGELS RESCUE

9415 WINSOME LN
HOUSTON,TX770633903 		N/A PC ANIMAL PROTECTION AND WELFARE 10,000

KIDS' MEALS

330 GARDEN OAKS
HOUSTON,TX77018 		N/A PC SOCIAL SERVICES 430,000

MD ANDERSON CANCER CENTER DEPARTMENT OF PEDIATRICS RESEARCH LABORATORY O

1515 HOLCOMBE BLVD SUSHMITA GUPTA
DEVELOPMENT OFFICE REPRESENTATIVE
HOUSTON,TX77030 		N/A SO I MEDICAL PROGRAMS 35,000

MUSTARD SEED - A COMMUNITY CAFE

201 E SUNSET RD
HOUSTON,TX799221019 		N/A PC SOCIAL SERVICES 7,500

NATIONAL BLACK MBA ASSOCIATION HOUSTON CHAPTER INC

PO BOX 56509
HOUSTON,TX772566509 		N/A PC EDUCATIONAL SERVICES 7,500

NATIONAL MS SOCIETY

1050 N POST OAK SUITE 240
HOUSTON,TX77055 		N/A PC MEDICAL PROGRAMS 5,000

PANOLA COLLEGE

1109 W PANOLA ST
CARTHAGE,TX75633 		N/A PC EDUCATIONAL SERVICES 500,000

PEARLAND NEIGHBORHOOD CENTER

2335 N TEXAS AVE
PEARLAND,TX775814121 		N/A PC SOCIAL SERVICES 10,000

PRESTIGE LEARNING INSTITUTE

5233 BELLAIRE BLVD SUITE B590
BELLAIRE,TX77401 		N/A PC EDUCATIONAL SERVICES 5,000

RECIPE FOR SUCCESS FOUNDATION

PO BOX 56405
HOUSTON,TX77256 		N/A PC SOCIAL SERVICES 118,000

REMEMBER THE ALAMO FOUNDATION

300 ALAMO PLAZA
SAN ANTONIO,TX78205 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 400,000

RESCUED PETS MOVEMENT INC

2317 W 34TH ST
HOUSTON,TX770186006 		N/A PC ANIMAL PROTECTION AND WELFARE 5,000

RIVER OAKS BAPTIST SCHOOL

2300 WILLOWICK RD
HOUSTON,TX77027 		N/A PC EDUCATIONAL SERVICES 1,000,000

RIVER OAKS CHAMBER ORCHESTRA

1934 W GRAY SUITE 311
HOUSTON,TX77019 		N/A PC PERFORMING ARTS AND ARTS EDUCATION 50,000

SAN ANTONIO AREA FOUNDATION

151 CONCORD PLAZA DRIVE SUITE 301
SAN ANTONIO,TX78216 		N/A PC EDUCATIONAL SERVICES 1,323,500

SMALL PLACES

257 N GREENWOOD ST
HOUSTON,TX77011 		N/A PC CAPITAL CAMPAIGN 50,000

SMALL STEPS NURTURING CENTER

2902 JENSEN DRIVE
HOUSTON,TX77026 		N/A PC SOCIAL SERVICES 100,000

SOUTHWESTERN UNIVERSITY

PO BOX 770
GEORGETOWN,TX78627 		N/A PC EDUCATIONAL SERVICES 200,000

SPRINGSPIRIT

8526 PITNER RD
HOUSTON,TX77080 		N/A PC EDUCATIONAL SERVICES 25,000

ST MARK LUTHERAN CHURCH

1515 HILLENDAHL BLVD
HOUSTON,TX77055 		N/A PC SOCIAL SERVICES 5,000

TEXAS A&M FOUNDATION

401 GEORGE BUSH DRIVE
COLLEGE STATION,TX77840 		N/A PC EDUCATIONAL SERVICES 240,130

TEXAS CHRISTIAN UNIVERSITY

PO BOX 297044
FT WORTH,TX76129 		N/A PC EDUCATIONAL SERVICES 5,000

THE AWTY INTERNATIONAL SCHOOL HOUSTON

7455 AWTY SCHOOL LANE
HOUSTON,TX77055 		N/A PC EDUCATIONAL SERVICES 5,000

THE BRYAN MUSEUM

1315 21ST STREET
GALVESTON,TX77550 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 58,000

THE FOUNDATION FOR THE COUNCIL ON RECOVERY

303 JACKSON HILL ST
HOUSTON,TX770077407 		N/A PC SOCIAL SERVICES 5,000

THE SALVATION ARMY

1500 AUSTIN ST
HOUSTON,TX77002 		N/A PC SOCIAL SERVICES 50,000

THE WITTE MUSEUM

3801 BROADWAY ST
SAN ANTONIO,TX78209 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 255,000

THE WOMEN'S HOME

607 WESTHEIMER ROAD
HOUSTON,TX77006 		N/A PC SOCIAL SERVICES 25,000

TWST4GIRLS

18018 SUGAR PINE DRIVE
HOUSTON,TX77090 		N/A PC SOCIAL SERVICES 12,500

UNDIES FOR EVERYONE

3610 WILLOWBEND 1000
HOUSTON,TX77054 		N/A PC SOCIAL SERVICES 150,000

UNIVERSITY OF HOUSTON

PO BOX 867 OFFICE OF GIFT PROCESSIN
AND RECORDS
HOUSTON,TX77001 		N/A PC EDUCATIONAL SERVICES 1,000,000

UNIVERSITY OF TEXAS FOUNDATION

9011 MOUNTAIN RIDGE DR SUITE 150
AUSTIN,TX78759 		N/A PC EDUCATIONAL SERVICES 200,000

UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON

700 FANIN SUITE 1200
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 1,454,000

WILLIAM MARSH RICE UNIVERSITY

6100 MAIN ST
HOUSTON,TX77251 		N/A PC EDUCATIONAL SERVICES 425,000

WONDERWORKS HOUSTON

PO BOX 667550
HOUSTON,TX772667550 		N/A PC EDUCATIONAL SERVICES 60,000

WORKTEXAS TRAINING CENTER

3900 ESSEX LANE SUITE 1200
HOUSTON,TX77027 		N/A PC EDUCATIONAL SERVICES 100,000

YELLOWSTONE SCHOOLS

3000 TRULLEY ST
HOUSTON,TX77004 		N/A PC EDUCATIONAL SERVICES 100,000

YES PREP PUBLIC SCHOOLS

5455 SOUTH LOOP E FREEWAY
HOUSTON,TX77033 		N/A PC EDUCATIONAL SERVICES 458,000
Total .................................right arrow 3a 39,519,544
bApproved for future payment

DIAMOND BAR CONSERVATION
200 CONCORD PLAZA DRIVE SUITE 410
SAN ANTONIO,TX78216 		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 14,500,000

GALVESTON HISTORICAL FOUNDATION
2002 STRAND SUITE 200
GALVESTON,TX77550 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 175,000

HOUSTON ZOO INC
1513 CAMBRIDGE STREET
HOUSTON,TX77030 		N/A PC ANIMAL AND WILDLIFE HABITAT CONSERVATION 2,167,000

PANOLA COLLEGE
1109 W PANOLA ST
CARTHAGE,TX75633 		N/A PC EDUCATIONAL SERVICES 2,000,000

RIVER OAKS CHAMBER ORCHESTRA
1934 W GRAY SUITE 311
HOUSTON,TX77019 		N/A PC PERFORMING ARTS AND ARTS EDUCATION 100,000

THE WITTE MUSEUM
3801 BROADWAY ST
SAN ANTONIO,TX78209 		N/A PC EDUCATION AND HISTORICAL PRESERVATION 135,000

UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON
700 FANIN SUITE 1200
HOUSTON,TX77030 		N/A PC MEDICAL PROGRAMS 591,000

YES PREP PUBLIC SCHOOLS
5455 SOUTH LOOP E FREEWAY
HOUSTON,TX77033 		N/A PC EDUCATIONAL SERVICES 1,122,000
Total ................................. right arrow 3b 20,790,000
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 ........... 		    14 725,282  
4 Dividends and interest from securities ....     14 14,160,196  
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 .....     14 6,910,100  
8 Gain or (loss) from sales of assets other than
inventory ............ 		525990 1,370,379 18 27,109,519  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPASSTHROUGH K-1 INCOME - UBTI 		525990 -17,931      
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 1,352,448 48,905,097 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
50,257,545
(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
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
DAN L DUNCAN FOUNDATION
 
Employer identification number

20-0265572
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

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

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

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

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
DAN L DUNCAN FOUNDATION
  		Employer identification number
20-0265572
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
ESTATE OF DAN L DUNCAN
 
PO BOX 4735
 
HOUSTON, TX77210

$ 197,679


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
DAN L DUNCAN FOUNDATION
  		Employer identification number

20-0265572
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
DAN L DUNCAN FOUNDATION
  		Employer identification number

20-0265572
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PLANNING AND COMPLIANCE 18,609 9,305   9,304

TY 2024 InvestmentsCorpStockSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Name of Stock End of Year Book Value End of Year Fair Market Value
PUBLICLY TRADED SECURITY 1 327,081 433,727
PUBLICLY TRADED SECURITY 2 2,149,761 2,386,002
PUBLICLY TRADED SECURITY 3 1,784,866 1,537,628
PUBLICLY TRADED SECURITY 4 1,371,134 1,849,122
PUBLICLY TRADED SECURITY 5 547,152 1,649,192
PUBLICLY TRADED SECURITY 6 1,514,214 1,843,643
PUBLICLY TRADED SECURITY 7 242,558 290,966
PUBLICLY TRADED SECURITY 8 337,119 368,920
PUBLICLY TRADED SECURITY 9 106,874 135,044
PUBLICLY TRADED SECURITY 10 211,471 305,903
PUBLICLY TRADED SECURITY 11 295,427 285,203
PUBLICLY TRADED SECURITY 12 703,211 1,338,279
PUBLICLY TRADED SECURITY 13 2,964,949 6,009,750
PUBLICLY TRADED SECURITY 14 16,206,363 18,593,469
PUBLICLY TRADED SECURITY 15 25,584,261 23,200,075
PUBLICLY TRADED SECURITY 16 681,970 768,606
PUBLICLY TRADED SECURITY 17 204,003 243,344
PUBLICLY TRADED SECURITY 18 207,374 447,253
PUBLICLY TRADED SECURITY 19 292,542 344,033
PUBLICLY TRADED SECURITY 20 254,344 683,928
PUBLICLY TRADED SECURITY 21 736,111 758,520
PUBLICLY TRADED SECURITY 22 248,571 242,096
PUBLICLY TRADED SECURITY 23 465,998 637,275
PUBLICLY TRADED SECURITY 24 662,782 539,460
PUBLICLY TRADED SECURITY 25 638,006 578,745
PUBLICLY TRADED SECURITY 26 827,249 1,229,280
PUBLICLY TRADED SECURITY 27 493,936 1,043,368
PUBLICLY TRADED SECURITY 28 434,644 672,728
PUBLICLY TRADED SECURITY 29 423,697 341,796
PUBLICLY TRADED SECURITY 30 395,042 350,672
PUBLICLY TRADED SECURITY 31 911,751 801,120
PUBLICLY TRADED SECURITY 32 381,407 511,950
PUBLICLY TRADED SECURITY 33 545,849 332,208
PUBLICLY TRADED SECURITY 34 1,901,659 1,353,942
PUBLICLY TRADED SECURITY 35 777,658 869,841
PUBLICLY TRADED SECURITY 37 1,477,196 1,050,840
PUBLICLY TRADED SECURITY 38 561,481 500,050
PUBLICLY TRADED SECURITY 39 963,952 1,194,744
PUBLICLY TRADED SECURITY 40 264,802 400,328
PUBLICLY TRADED SECURITY 41 258,980 435,758
PUBLICLY TRADED SECURITY 42 288,254 406,597
PUBLICLY TRADED SECURITY 43 506,528 550,560
PUBLICLY TRADED SECURITY 44 726,857 707,667
PUBLICLY TRADED SECURITY 45 573,238 592,130
PUBLICLY TRADED SECURITY 46 1,686,624 1,104,294
PUBLICLY TRADED SECURITY 47 466,200 479,354
PUBLICLY TRADED SECURITY 48 354,055 281,974
PUBLICLY TRADED SECURITY 49 130,747 160,567
PUBLICLY TRADED SECURITY 51 159,661 183,178
PUBLICLY TRADED SECURITY 52 155,014 179,640
PUBLICLY TRADED SECURITY 53 585,264 325,759
PUBLICLY TRADED SECURITY 54 501,673 582,012
PUBLICLY TRADED SECURITY 55 189,848 228,936
PUBLICLY TRADED SECURITY 56 191,412 185,564
PUBLICLY TRADED SECURITY 57 1,394,738 1,491,049
PUBLICLY TRADED SECURITY 58 1,276,332 2,465,040
PUBLICLY TRADED SECURITY 59 825,432 993,471
PUBLICLY TRADED SECURITY 60 158,663 203,543
PUBLICLY TRADED SECURITY 61 329,319 422,646
PUBLICLY TRADED SECURITY 62 218,356 217,500
PUBLICLY TRADED SECURITY 63 243,792 255,204
PUBLICLY TRADED SECURITY 64 384,809 917,345
PUBLICLY TRADED SECURITY 65 141,452 453,444
PUBLICLY TRADED SECURITY 66 874,957 1,182,336
PUBLICLY TRADED SECURITY 67 132,111 155,736
PUBLICLY TRADED SECURITY 68 258,583 260,064
PUBLICLY TRADED SECURITY 69 84,362 118,153
PUBLICLY TRADED SECURITY 70 665,995 1,009,332
PUBLICLY TRADED SECURITY 71 700,435 3,185,299
PUBLICLY TRADED SECURITY 72 500,204 927,570
PUBLICLY TRADED SECURITY 73 349,957 387,497
PUBLICLY TRADED SECURITY 74 530,969 858,930
PUBLICLY TRADED SECURITY 75 1,106,232 913,140
PUBLICLY TRADED SECURITY 76 220,343 277,739
PUBLICLY TRADED SECURITY 77 482,155 658,260
PUBLICLY TRADED SECURITY 78 286,338 300,033
PUBLICLY TRADED SECURITY 79 272,327 256,950
PUBLICLY TRADED SECURITY 80 419,370 443,768
PUBLICLY TRADED SECURITY 81 1,110,225 938,727
PUBLICLY TRADED SECURITY 82 43,717,153 47,932,334
PUBLICLY TRADED SECURITY 83 660,303 727,130
PUBLICLY TRADED SECURITY 84 407,859 359,164
PUBLICLY TRADED SECURITY 85 159,546 701,997
PUBLICLY TRADED SECURITY 86 1,549,852 1,854,855
PUBLICLY TRADED SECURITY 87 253,078 226,330
PUBLICLY TRADED SECURITY 88 367,327 612,938
PUBLICLY TRADED SECURITY 89 329,272 342,741
PUBLICLY TRADED SECURITY 90 381,904 427,881
PUBLICLY TRADED SECURITY 91 1,345,265 1,495,364
PUBLICLY TRADED SECURITY 92 122,675 163,255
PUBLICLY TRADED SECURITY 93 488,174 445,620
PUBLICLY TRADED SECURITY 94 843,827 2,480,145
PUBLICLY TRADED SECURITY 95 316,723 247,628
PUBLICLY TRADED SECURITY 96 1,282,248 1,694,916
PUBLICLY TRADED SECURITY 97 293,278 374,273
PUBLICLY TRADED SECURITY 98 275,213 761,163
PUBLICLY TRADED SECURITY 99 194,993 246,500
PUBLICLY TRADED SECURITY 100 351,177 314,556
PUBLICLY TRADED SECURITY 101 1,508,794 1,756,829
PUBLICLY TRADED SECURITY 102 823,033 1,306,650
PUBLICLY TRADED SECURITY 103 562,155 714,443
PUBLICLY TRADED SECURITY 104 1,894,516 3,753,458
PUBLICLY TRADED SECURITY 105 170,721 184,275
PUBLICLY TRADED SECURITY 106 593,061 2,312,975
PUBLICLY TRADED SECURITY 107 303,512 308,793
PUBLICLY TRADED SECURITY 108 828,990 2,475,380
PUBLICLY TRADED SECURITY 109 976,304 1,056,150
PUBLICLY TRADED SECURITY 110 677,918 529,579
PUBLICLY TRADED SECURITY 111 791,034 715,686
PUBLICLY TRADED SECURITY 112 400,102 457,357
PUBLICLY TRADED SECURITY 113 110,659 123,930
PUBLICLY TRADED SECURITY 114 251,247 366,108
PUBLICLY TRADED SECURITY 115 2,413,496 2,640,911
PUBLICLY TRADED SECURITY 116 876,783 1,373,598
PUBLICLY TRADED SECURITY 117 790,848 891,210
PUBLICLY TRADED SECURITY 118 248,450 280,478
PUBLICLY TRADED SECURITY 119 151,158 231,806
PUBLICLY TRADED SECURITY 120 202,234 164,602
PUBLICLY TRADED SECURITY 121 160,133 176,670
PUBLICLY TRADED SECURITY 122 520,955 587,672
PUBLICLY TRADED SECURITY 123 525,848 418,560
PUBLICLY TRADED SECURITY 124 1,553,304 2,025,100
PUBLICLY TRADED SECURITY 125 277,545 337,787
PUBLICLY TRADED SECURITY 126 153,658 280,926
PUBLICLY TRADED SECURITY 127 464,051 100,417
PUBLICLY TRADED SECURITY 128 575,333 550,260
PUBLICLY TRADED SECURITY 129 2,293,011 2,331,315
PUBLICLY TRADED SECURITY 130 1,533,345 2,419,858
PUBLICLY TRADED SECURITY 131 1,540,545 1,480,661
PUBLICLY TRADED SECURITY 132 536,090 643,075
PUBLICLY TRADED SECURITY 133 290,142 323,895
PUBLICLY TRADED SECURITY 134 506,150 491,880
PUBLICLY TRADED SECURITY 135 297,282 326,724
PUBLICLY TRADED SECURITY 136 602,504 629,068
PUBLICLY TRADED SECURITY 137 2,051,501 1,881,152
PUBLICLY TRADED SECURITY 138 457,626 838,774
PUBLICLY TRADED SECURITY 139 334,325 504,147
PUBLICLY TRADED SECURITY 140 340,302 480,094
PUBLICLY TRADED SECURITY 141 173,822 178,510
PUBLICLY TRADED SECURITY 142 143,777 272,880
PUBLICLY TRADED SECURITY 143 232,065 224,986
PUBLICLY TRADED SECURITY 144 640,494 758,790
PUBLICLY TRADED SECURITY 145 242,854 261,024
PUBLICLY TRADED SECURITY 146 544,852 855,915
PUBLICLY TRADED SECURITY 147 354,423 377,862
PUBLICLY TRADED SECURITY 148 327,905 440,876
PUBLICLY TRADED SECURITY 149 1,100,733 2,866,799
PUBLICLY TRADED SECURITY 150 259,506 321,900
PUBLICLY TRADED SECURITY 151 14,340,005 16,982,257
PUBLICLY TRADED SECURITY 152 356,326 407,967
PUBLICLY TRADED SECURITY 154 1,273,346 1,466,384
PUBLICLY TRADED SECURITY 155 1,264,099 1,917,552
PUBLICLY TRADED SECURITY 156 223,586 267,977
PUBLICLY TRADED SECURITY 157 371,963 730,620
PUBLICLY TRADED SECURITY 158 352,658 583,035
PUBLICLY TRADED SECURITY 159 537,356 567,324
PUBLICLY TRADED SECURITY 160 776,580 707,721
PUBLICLY TRADED SECURITY 161 1,387,189 1,759,155

TY 2024 InvestmentsGovtObligationsSch
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
US Government Securities - End of Year Book Value:

20,326,988
US Government Securities - End of Year Fair Market Value:

17,159,020
State & Local Government Securities - End of Year Book Value:


25,502,521
State & Local Government Securities - End of Year Fair Market Value:


21,096,534


TY 2024 InvestmentsOtherSchedule2
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
NON-MARKETABLE CORPORATE EQUITY SECURITY 1 AT COST 7,531,852 7,484,729
ALTERNATIVE INVESTMENT 1 AT COST 41,236,850 50,946,348
ALTERNATIVE INVESTMENT 2 AT COST 9,859,116 10,870,928
ALTERNATIVE INVESTMENT 3 AT COST 20,000,000 7,800,000
ALTERNATIVE INVESTMENT 4 AT COST 10,000,000 4,341,625
ALTERNATIVE INVESTMENT 5 AT COST 8,550,000 5,985,000
ALTERNATIVE INVESTMENT 6 AT COST 18,668,841 23,521,485
ALTERNATIVE INVESTMENT 7 AT COST 4,962,199 12,138,971
ALTERNATIVE INVESTMENT 8 AT COST 30,995,007 45,709,458
ALTERNATIVE INVESTMENT 11 AT COST 10,126,331 10,385,011
ALTERNATIVE INVESTMENT 12 AT COST 8,320,212 11,964,678
ALTERNATIVE INVESTMENT 13 AT COST 25,000,000 25,608,719
ALTERNATIVE INVESTMENT 14 AT COST 5,736,924 3,313,482
ALTERNATIVE INVESTMENT 15 AT COST 20,000,000 31,305,717
ALTERNATIVE INVESTMENT 16 AT COST 14,966,917 20,497,775
ALTERNATIVE INVESTMENT 17 AT COST 2,956,206 3,116,326
ALTERNATIVE INVESTMENT 18 AT COST 4,658,679 4,642,559
ALTERNATIVE INVESTMENT 19 AT COST 6,991,912 11,195,100
ALTERNATIVE INVESTMENT 20 AT COST 8,590,259 3,735,660
ALTERNATIVE INVESTMENT 21 AT COST 29,295,247 28,654,567
ALTERNATIVE INVESTMENT 22 AT COST 18,050,000 39,519,426
ALTERNATIVE INVESTMENT 23 AT COST 1,102,170 1,157,475
ALTERNATIVE INVESTMENT 24 AT COST 19,227,433 35,266,027
ALTERNATIVE INVESTMENT 25 AT COST 1,548,487 4,516,108
ALTERNATIVE INVESTMENT 26 AT COST 5,074,384 7,733,771
ALTERNATIVE INVESTMENT 27 AT COST 7,185,207 9,235,057
ALTERNATIVE INVESTMENT 30 AT COST 331,330 338,643
ALTERNATIVE INVESTMENT 31 AT COST 3,503,981 9,941,548
ALTERNATIVE INVESTMENT 32 AT COST 6,982,997 8,469,695
ALTERNATIVE INVESTMENT 33 AT COST 1 2,156,551
ALTERNATIVE INVESTMENT 34 AT COST 8,815,418 11,089,906
ALTERNATIVE INVESTMENT 35 AT COST 16,245,000 39,424,991
ALTERNATIVE INVESTMENT 36 AT COST 8,511,849 12,122,829
ALTERNATIVE INVESTMENT 37 AT COST 2,966,839 3,283,776
ALTERNATIVE INVESTMENT 38 AT COST 2,732,823 5,357,326
ALTERNATIVE INVESTMENT 39 AT COST 11,743,394 14,960,459
ALTERNATIVE INVESTMENT 40 AT COST 13,829,405 23,042,737
ALTERNATIVE INVESTMENT 41 AT COST 5,052,949 8,764,586
ALTERNATIVE INVESTMENT 42 AT COST 31,918,819 42,034,413
ALTERNATIVE INVESTMENT 43 AT COST 1,090,954 1,385,037

TY 2024 LegalFeesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 8,777 0   8,777


TY 2024 OtherExpensesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SOFTWARE SUBSCRIPTION 18,371 0   18,371


TY 2024 OtherIncomeSchedule2
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
PASSTHROUGH K-1 INCOME 3,456,607 3,482,989 0
PFIC ORDINARY INCOME INCLUSION 3,407,599 3,407,599 0
ROYALTY INCOME 45,894 45,894 0
PASSTHROUGH K-1 INCOME - UBTI -17,931 0 -17,931


TY 2024 OtherProfessionalFeesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 695,028 695,028   0


TY 2024 TaxesSchedule
Name:
DAN L DUNCAN FOUNDATION
EIN:
20-0265572
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAX 133,307 133,307   0
EXCISE TAX 215,000 0   0