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
JF Maddox Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 2588
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Hobbs, NM882412588
A Employer identification number

75-6023767
B Telephone number (see instructions)

(575) 393-6338
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$271,771,488J 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 5,231,939 5,231,939  
4 Dividends and interest from securities... 3,383,795 3,383,795  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
3,846,741
b Gross sales price for all assets on line 6a 3,846,741
7 Capital gain net income (from Part IV, line 2)... 3,395,331
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 0
b Less: Cost of goods sold.... 0
c Gross profit or (loss) (attach schedule)..... 0  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,898,281 1,682,279 0
12 Total. Add lines 1 through 11........ 14,360,756 13,693,344 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,029,325 196,744 0 819,141
14 Other employee salaries and wages...... 456,362 70,852 0 382,156
15 Pension plans, employee benefits....... 353,319 84,337 0 264,989
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
34,348 8,199 0 25,761
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
77,653 34,033 0 11,345
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
1,945,124 1,600,890 0 268,449
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
343,368 10,142 0 0
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
52,764 11,006 0
20 Occupancy.............. 190,889 45,565 0 143,167
21 Travel, conferences, and meetings....... 115,932 27,673 0 86,949
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
4,405,245 2,284,113 0 991,447
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 9,004,329 4,373,554 0 2,993,404
25 Contributions, gifts, grants paid....... 4,160,529 4,160,529
26 Total expenses and disbursements. Add lines 24 and 25 13,164,858 4,373,554 0 7,153,933
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,195,898
b Net investment income (if negative, enter -0-) 9,319,790
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 2,496,768 7,548,707 7,548,707
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow   0 0 0
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow   0 0 0
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)..... 0 0 0
7 Other notes and loans receivable (attach schedule) right arrow0
Less: allowance for doubtful accounts right arrow0 0 0 0
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 0    
10a Investments—U.S. and state government obligations (attach schedule) 0 0 0
b Investments—corporate stock (attach schedule)....... 91,837,314 Click to see attachment
List of Attached Documents:
// Content
98,489,571 		117,350,464
c Investments—corporate bonds (attach schedule)....... 0   0
11 Investments—land, buildings, and equipment: basis right arrow236,349
Less: accumulated depreciation (attach schedule) right arrow0 0 Click to see attachment
List of Attached Documents:
// Content
236,349 		236,349
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 151,585,609 Click to see attachment
List of Attached Documents:
// Content
140,933,110 		146,547,048
14 Land, buildings, and equipment: basis right arrow660,977
Less: accumulated depreciation (attach schedule) right arrow580,526 133,214 Click to see attachment
List of Attached Documents:
// Content
80,451 		80,451
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
48,462 		Click to see attachment
List of Attached Documents:
// Content
8,469 		Click to see attachment
List of Attached Documents:
// Content
8,469
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 246,101,367 247,296,657 271,771,488
Liabilities 17 Accounts payable and accrued expenses.......... 608 0
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons 0 0
21 Mortgages and other notes payable (attach schedule)...... 0 0
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 608 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........... 246,100,759 247,296,657
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 246,100,759 247,296,657
30 Total liabilities and net assets/fund balances (see instructions). 246,101,367 247,296,657
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
246,100,759
2
Enter amount from Part I, line 27a .....................
2
1,195,898
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
247,296,657
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
247,296,657
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 GAIN/(LOSS) FROM PASS-THROUGH ENTITIES      
b GAIN/(LOSS) FROM PUBLICLY TRADED SECURITIES      
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 1,657,132   0 1,657,132
b 1,738,199   0 1,738,199
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     0 1,657,132
b     0 1,738,199
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 3,395,331
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) 1 129,545
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-) Click to see attachment
List of Attached Documents:
// Content
2 0
3 Add lines 1 and 2........................... 3 129,545
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 129,545
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 358,212
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 204,000
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 562,212
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 432,667
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow200,000 Refundedright arrow 11 232,667
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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 arrowCA, CO, CT, FL, GA, AL, HI, IL, IN, IA, KS, LA, ME, MD, MA, MN, MO, NE, NJ, NM, NY, NC, OK, OR, AZ, RI, SC, UT, VA, AR, WV, WI
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowwww.jfmaddox.org
14
The books are in care ofright arrowDavid Reed Telephone no.right arrow (575) 393-6338

Located atright arrowPO Box 2588HobbsNM ZIP+4right arrow882412588
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
 
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)
Yes
 
(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
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
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
Ann M Utterback Director
4.00 		50,492 0 0
PO Box 2588
Hobbs,NM882412588
Benjamin W Maddox Director
5.00 		56,271 0 0
PO Box 2588
Hobbs,NM882412588
Catherine M Maddox Director
20.00 		83,591 0 0
PO Box 2588
Hobbs,NM882412588
John L Maddox Director
4.00 		39,091 0 0
PO Box 2588
Hobbs,NM882412588
Mariasusana Arvizu Director
5.00 		47,256 0 0
PO Box 2588
Hobbs,NM882412588
Paul V Campbell Director
4.00 		42,091 0 0
PO Box 2588
Hobbs,NM882412588
Thomas M Maddox Director
4.00 		36,492 0 0
PO Box 2588
Hobbs,NM882412588
David Reed COO/Secretary
40.00 		149,674 31,964 0
PO Box 2588
Hobbs,NM882412588
Mayra Lovas Vice President - Grant
40.00 		137,253 12,923 0
PO Box 2588
Hobbs,NM882412588
TJ PARKS CEO
40.00 		312,000 27,049 0
PO Box 2588
Hobbs,NM882412588
KERRI GRAY DIRECTOR OF FINANCE
40.00 		77,798 10,670 0
PO Box 2588
Hobbs,NM882412588
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
Carol A Crossland Program Associate
40.00 		77,139 14,184 0
PO Box 2588
Hobbs,NM882412588
Hilda Aldrete Exec. Assistant
40.00 		71,309 12,198 0
PO Box 2588
Hobbs,NM882412588
Kawin J Nunnery Program Associate
40.00 		67,988 24,729 0
PO Box 2588
Hobbs,NM882412588
Sarah Anderson Grants Administrator
40.00 		82,880 13,563 0
PO Box 2588
Hobbs,NM882412588
Marissa Corral Accountant
40.00 		65,959 8,361 0
PO Box 2588
Hobbs,NM882412588
Total number of other employees paid over $50,000...................right arrow 1
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
BAUPOST LIMITED PARTNERSHIP 1983 C-1 INVESTMENT FEES 663,816
10 ST JAMES AVE STE 1700
BOSTON,MA02116
CHARLES SCHWAB INVESTMENT FEES 302,714
3000 SCHWAB WAY
WESTLAKE,TX76262
ABRAMS CAPITAL LPARTNERS II LP INVESTMENT FEES 212,705
222 BERKELEY STREET 21ST FL
BOSTON,MA02216
Your Part Time Controller ACCOUNTING SERVICES 124,160
110 N Wacker Dr
Suite 2500
CHICAGO,IL60606
JRBS Consulting Public Relations 120,253
7701 N Butler
Hobbs,NM88240
Total number of others receiving over $50,000 for professional services.............right arrow5
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 Management and administration of Jack Maddox Distinguished Lecture Series (DLS). Refer to website at www.jfmaddox.org 337,871
2 Management & administration of Jack Maddox Distinguished Scholarship Program. Refer to website at www.jfmaddox.org JACK MADDOX DISTINGUISHED SCHOLARSHIP PROGRAM: AN INDEPENDENT SCHOLARSHIP SELECTION COMMITTEE SCREENS APPLICATIONS AND SELECTS UP TO 20 SEMI-FINALISTS TO INTERVIEW. OF THE 20 SEMI-FINALISTS, UP TO 15 ARE AWARDED ONE-TIME $5,000 SCHOLARSHIPS, 4 ARE AWARDED $20,000 SCHOLARSHIPS OVER 4 YEARS, AND 1 IS SELECTED TO RECEIVE THE JACK MADDOX DISTINGUISHED SCHOLARSHIP AWARD WHICH PAYS FULL TUITION, REQUIRED FEES, TEXTBOOKS, AND ROOM & BOARD. TO SUPPORT THE FOUR MULTI-YEAR SCHOLARS AND THE JACK MADDOX DISTINGUISED SCHOLAR IN ACCEPTANCE TO THEIR SCHOOLS OF CHOICE, THEY ARE ALSO PROVIDED A COLLEGE COUNSELOR, COST REIMBURSEMENT FOR ATTENDING A REGIONAL COLLEGE FAIR, AND UP TO $250 FOR COLLEGE APPLICATION FEES. 280,665
3 Management and administration of downtown revitalization efforts to strengthen Hobbs' community by improving the business corridor, supporting local economic diversity, and fostering a vibrant, inclusive environment that enhances quality of life for residents. 132,984
4 the Hobbs Campaign for Grade-Level Reading has formed a coalition of community partners who are committed to ensuring early school success by addressing experiences holistically and focusing on community-driven initiatives to help children and families. The JF Maddox Foundation has partnered with stakeholders from the Hobbs Municipal School District, the City of Hobbs, United Way of Lea County, Literacy Coalition of the Permian Basin, University of the Southwest, New Mexico Junior College, Nor-Lea Hobbs Medical Clinic, Hobbs Public Library, and others, to come together to give our youth tools to increase academic achievement and improve their literacy rates. 120,804
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 Justice House is a re-integration program for people exiting the prison system and their families. This investment was structured as a loan with a 10-year term. The loan was accompanied with a mortgage and first position lien that could be fully forgiven if the grantee maintains operation in a suitable fashion. 200,000
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow200,000
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
89,689,569
b
Average of monthly cash balances.......................
1b
6,882,114
c
Fair market value of all other assets (see instructions)................
1c
176,775,110
d
Total (add lines 1a, b, and c).........................
1d
273,346,793
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
 
3
Subtract line 2 from line 1d.........................
3
273,346,793
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
4,100,202
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
269,246,591
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
13,462,330
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
13,462,330
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
129,545
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
129,545
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
13,332,785
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
13,332,785
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
13,332,785
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
7,153,933
b
Program-related investments—total from Part VIII-B..................
1b
200,000
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
236,349
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
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
7,590,282
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 13,332,785
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 334,683
b Total for prior years:2022, 2021, 2020 0
3 Excess distributions carryover, if any, to 2024:
a From 2019...... 0
b From 2020...... 0
c From 2021...... 0
d From 2022...... 0
e From 2023...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 7,590,282
a Applied to 2023, but not more than line 2a 334,683
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 7,255,599
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024.   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...... 		 
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 .......... 		6,077,186
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.... 0
b Excess from 2021.... 0
c Excess from 2022.... 0
d Excess from 2023.... 0
e Excess from 2024.... 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Sarah Anderson
PO Box 2588
Hobbs,NM882412588
(575) 393-6338
bThe form in which applications should be submitted and information and materials they should include:
Grant Criteria: GRANTS ARE MADE TO PUBLIC CHARITIES AND/OR GOVERNMENTAL ENTITIES FOR PROJECTS THAT ARE CONSISTENT WITH THE FOUNDATION'S MISSION STATEMENT. PREFERENCE IS GIVEN TO SOUTHEASTERN NM CHARITABLE ORGANIZATIONS BUT DOES NOT EXCLUSIVELY LIMIT GRANT RECIPIENTS. JACK MADDOX DISTINGUISHED SCHOLARSHIP PROGRAM: AN INDEPENDENT SCHOLARSHIP SELECTION COMMITTEE SCREENS APPLICATIONS AND SELECTS UP TO 20 SEMI-FINALISTS TO INTERVIEW. OF THE 20 SEMI-FINALISTS, UP TO 15 ARE AWARDED ONE-TIME $5,000 SCHOLARSHIPS, 4 ARE AWARDED $20,000 SCHOLARSHIPS OVER 4 YEARS, AND 1 IS SELECTED TO RECEIVE THE JACK MADDOX DISTINGUISHED SCHOLARSHIP AWARD WHICH PAYS FULL TUITION, REQUIRED FEES, TEXTBOOKS, AND ROOM & BOARD. TO SUPPORT THE FOUR MULTI-YEAR SCHOLARS AND THE JACK MADDOX DISTINGUISED SCHOLAR IN ACCEPTANCE TO THEIR SCHOOLS OF CHOICE, THEY ARE ALSO PROVIDED A COLLEGE COUNSELOR, COST REIMBURSEMENT FOR ATTENDING A REGIONAL COLLEGE FAIR, AND UP TO $250 FOR COLLEGE APPLICATION FEES.
cAny submission deadlines:
Scholarship applications must be received by June 30th preceding applicants high school junior year.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
GRANT CRITERIA: GRANTS ARE NOT ORDINARILY MADE TO INDIVIDUALS, FOR ONGOING SUPPORT OF AN AGENCY, FOR ENDOWMENT FUNDS, OR TO OTHER PRIVATE FOUNDATIONS. REFER TO THE WEBSITE WWW.JFMADDOX.ORG FOR GRANT APPLICATION GUIDELINES AND ADDITIONAL INFORMATION ON THE APPLICATION PROCESS. JACK MADDOX DISTINGUISHED SCHOLARSHIP PROGRAM: - CANDIDATES MUST HAVE BEEN RESIDENTS OF LEA COUNTY, NM FOR AT LEAST TWO CONSECUTIVE YEARS PRIOR TO MAKING APPLICATION FOR THE SCHOLARSHIPS AND MUST CONTINUE TO BE A LEA COUNTY RESIDENT THROUGH GRADUATION FROM HIGH SCHOOL CAMPUSES OR REGISTERED HOME SCHOOLS LOCATED IN HOBBS, LOVINGTON, EUNICE, TATUM, OR JAL, NM. - CANDIDATES MUST HAVE SUBMITTED A FORMAL APPLICATION IN THE REQUIRED FORMAT BY JUNE 30. - CANDIDATES MUST EITHER BE NATURAL BORN OR NATURALIZED U.S. CITIZENS. APPLICATIONS ARE ASSESSED WITHOUT REGARD TO RACE, RELIGION, PHYSICAL CONDITION, OR NATIONAL ORIGIN. APPLICATION FORMS AND ADDITIONAL INFORMATION IS AVAILABLE ONLINE AT WWW.JFMADDOX.ORG.
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

A Million Stars Inc

110 North Jefferson
Saint Louis,MO63103 		NONE PC GENERAL OPERATING SUPPORT 10,000

Academic Foundations 365

2621 Propps Drive
Hobbs,NM88240 		NONE PC Distance Learning Programs 3,150

Albuquerque Community Foundation

PO Box 25266
Albuquerque,NM87125 		NONE PC Vizionz-Sankofa's Senior Utility Assistance 5,000

Albuquerque Meals on Wheels

5901 Harper Dr NE
Albuquerque,NM87109 		NONE PC GENERAL OPERATING SUPPORT 250

Alejandro Franco

1301 S 6th St
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

All Faiths Children's Advocacy Center

1709 Moon Street NE
Albuquerque,NM87112 		NONE PC GENERAL OPERATING SUPPORT 250

Amarillo Symphony Inc

301 S Polk Suite 700
Amarillo,TX79101 		NONE PC GENERAL OPERATING SUPPORT 2,000

American Cancer Society Inc

250 Williams Street
Atlanta,GA30303 		NONE PC GENERAL OPERATING SUPPORT 5,000

American College of Trust and Estate Counsel Foundation Inc

901 15th Street NW Suite 525
Washington,DC20005 		NONE PC GENERAL OPERATING SUPPORT 10,000

American Contemporary Ballet Inc

750 West 7th Street PO Box 811881
Los Angeles,CA90081 		NONE PC GENERAL OPERATING SUPPORT 8,000

American Rivers Inc

1101 14th Street NW Suite 1400
Washington,DC20005 		NONE PC GENERAL OPERATING SUPPORT 2,000

Animal Humane Association of New Mexico Inc

615 Virginia Street SE
Albuquerque,NM87108 		NONE PC GENERAL OPERATING SUPPORT 250

Arwen Ching

700 W Copper Ave
Hobbs,NM88240 		NONE I 2022 Maddox Scholar 5,000

Ashlynn Ornelas

2823 Mishae Road
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Avery Blackmon

3300 N Northwest Drive
Hobbs,NM88240 		NONE I SCHOLARSHIP 5,000

Avree Lyn Arnold

936 E Jackson Rd
Hobbs,NM88240 		NONE I 2021 Maddox Scholar 8,030

Barbershop Books

57 W 57th Street
New York,NY10019 		NONE PC GENERAL OPERATING SUPPORT 2,500

Be Loud Sophie Foundation

406 Longleaf Dr
Chapel Hill,NC27517 		NONE PC GENERAL OPERATING SUPPORT 5,000

Benjamin Ethan Miller

1308 W Brittany Dr
Hobbs,NM88242 		NONE I SCHOLARSHIP 5,000

Bike SLO County

860 Pacific St Suite 105
San Luis Obispo,CA93401 		NONE PC GENERAL OPERATING SUPPORT 1,000

Boys Club of Hobbs Inc

221 E Dunam
Hobbs,NM88240 		NONE PC Plumbing at childcare center, FUNDRAISING, AND GENERAL OPERATING SUPPORT 116,155

Brevin Luke McCool

5129 N JaRob Ln
Hobbs,NM88242 		NONE I 2020 Distinguished Scholar 25,867

Bridges Project for Education

PO Box 308
Taos,NM87571 		NONE PC GENERAL OPERATING SUPPORT 20,000

Brooklyn Faith Arreola

3207 E Anderson Drive
Lovington,NM88260 		NONE I 2021 Distinguished Scholar 34,549

Calvary Chapel Arroyo Grande

1133 Maple Street
Arroyo Grande,CA93420 		NONE PC GENERAL OPERATING SUPPORT 250

Calvary SLO Church

4029 S Higuera Street
San Luis Obispo,CA93401 		NONE PC GENERAL OPERATING SUPPORT 16,500

Carla Gavilan Rodriguez

PO Box 463
Eunice,NM88231 		NONE I 2021 Maddox Scholar 2,500

Cecilia Sanchez

513 W Avenue J
Lovington,NM88260 		NONE I College application fees; 2023 maddox scholar 2,575

Charity Global Inc dba Charity Water

230 Franklin Rd Ste 11-II
Franklin,TN37064 		NONE PC GENERAL OPERATING SUPPORT 6,000

Child Center-Marygrove dba Marygrove

2705 Mullanphy Lane
Florissant,MO63031 		NONE PC TO support the Gardens of Grace 1,000

Children's Defense Fund

840 First St NE Suite 300
Washington,DC20002 		NONE PC GENERAL OPERATING SUPPORT 5,000

Children's Literacy Initiative

990 Spring Garden St 4th Floor Sui
Philadelphia,PA19123 		NONE PC GENERAL OPERATING SUPPORT 5,000

Children's Tumor Foundation

697 Third Avenue Suite 418
New York,NY10017 		NONE PC to support Drew Elder's Cupid's Undie Run in Denver 1,000

Christian Center of Hobbs New Mexico

PO Box 2442
Hobbs,NM88241 		NONE PC In honor of Kyle Shepard for her dedication and service to the JF Maddox Foundation 5,000

Cissy Food Ministry

PO Box 2394
Hobbs,NM88241 		NONE PC GENERAL OPERATING SUPPORT 7,500

City of Hobbs

200 E Broadway
Hobbs,NM88240 		NONE GOV 2023 Christmas Lighting and downtown shrub removal 31,820

City of Lovington

214 S Love St
Lovington,NM88260 		NONE GOV 2024 Hispanic Heritage Concert Series and lovington youth center 400,000

Claire Alexa Newey

4816 W Hardtack
Hobbs,NM88240 		NONE I 2019 Maddox Scholar 3,335

Colorado Outdoor Education Center

PO Box 167
Florissant,CO80816 		NONE PC scholarship program at Sanborn Western Camps 15,000

Colorado Rocky Mountain School

500 Holden Way
Carbondale,CO81623 		NONE PC GENERAL OPERATING SUPPORT 21,000

Community Initiatives

1000 Broadway Ste 480
Oakland,CA94607 		NONE PC Attendance Works 2,500

Community Players of Hobbs New Mexico Inc

1700 N Grimes
Hobbs,NM88240 		NONE PC Youth Performing Arts Workshop 20,000

Convoy of Hope

PO Box 1125
Springfield,MO65801 		NONE PC GENERAL OPERATING SUPPORT 15,000

Corbin Philip Chance

804 Randy Pl
Hobbs,NM88240 		NONE I SCHOLARSHIP 5,000

Couse Foundation

PO Box 1436
Taos,NM87571 		NONE PC GENERAL OPERATING SUPPORT 3,000

Crosswinds Community Church

1701 N Jefferson
Hobbs,NM88240 		NONE PC Family Services 5,000

Dabos All In Team Foundation

PO Box 1585
Clemson,SC29633 		NONE PC GENERAL OPERATING SUPPORT 5,000

Danny Letrelle McMullen

1900 N 2nd Street Trlr 13
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Darlington School

1014 Cave Spring Road
Rome,GA30161 		NONE PC GENERAL OPERATING SUPPORT 2,000

Delta Gamma Foundation

3250 Riverside Dr
Columbus,OH43221 		NONE PC Service for Sight 5,000

Dianna Valeria Avitia

2112 E Cliffwood Cir
Hobbs,NM88240 		NONE I SCHOLARSHIP 5,000

District Attorney Courthouse Dogs Foundation

PO Box 8160
Roswell,NM88202 		NONE PC Lea County dog and trainer training costs 6,000

Downtown Women's Center

409 S Monroe Street
Amarillo,TX79101 		NONE PC GENERAL OPERATING SUPPORT 2,500

Dr Karen M Trujillo Memorial Foundation

PO Box 1620
Las Cruces,NM88004 		NONE PC GENERAL OPERATING SUPPORT 15,000

Eastern New Mexico University - Ruidoso

709 Mechem
Ruidoso,NM88345 		NONE GOV 2024 Unearthing Future Opportunities Youth Conference 10,000

Elijah Edwards

PO Box 803
Eunice,NM88231 		NONE I SCHOLARSHIP 5,000

Emily Stuard

1225 W Brittany Drive
Hobbs,NM88242 		NONE I 2023 Maddox Scholar 2,500

Encore Entertainment Inc

PO Box 101 120 Michigan Plaza
Hobbs,NM88241 		NONE PC GENERAL OPERATING SUPPORT 121,000

Equal Justice Initiative

122 Commerce Street
Montgomery,AL36104 		NONE PC GENERAL OPERATING SUPPORT 5,000

Erlin Salcido

314 E Avenue J
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Essex County Community Foundation

500 Cummings Center Suite 5450
Beverly,MA01915 		NONE PC GENERAL OPERATING SUPPORT 48,912

Fayetteville Wheelman Cycling Club

1251 E Shepherd Ln Apt 302
Fayetteville,AR72703 		NONE PC GENERAL OPERATING SUPPORT 1,000

First Methodist Church Hobbs

200 East Snyder
Hobbs,NM88240 		NONE PC GENERAL OPERATING SUPPORT 5,000

First Presbyterian Church of St Louis

7200 Delmar Blvd
University City,MO63130 		NONE PC GENERAL OPERATING SUPPORT 10,000

First Responders Children's Foundation

38 E 32nd Street Suite 602
New York,NY10016 		NONE PC First Responders Children's Foundation Programs 25,000

Freedom 5 One Ministries Inc

125 Sunbridge Drive Suite 2
Fayetteville,AR72703 		NONE PC GENERAL OPERATING SUPPORT 2,000

Friends of the Hobbs Public Library

PO Box 5041
Hobbs,NM88241 		NONE PC GENERAL OPERATING SUPPORT 5,000

Friends of the Lovington Public Library

115 S Main St
Lovington,NM88260 		NONE PC Children's Literacy Program 5,000

Friends of the Yampa Inc

PO Box 771654
Steamboat Springs,CO80477 		NONE PC GENERAL OPERATING SUPPORT 2,000

Global Empowerment Mission Inc

1040 Biscayne Blvd Suite 2403
Miami,FL33132 		NONE PC Hurricane Helene Recovery 4,000

God First Ministries

1812 North Homestead
Hobbs,NM88240 		NONE PC The Casita Warming Center 50,000

Golden Apple Foundation For Excellence In Teaching

901 W Jackson Blvd Suite 205
Chicago,IL60607 		NONE PC Addressing the Shortage of Highly-Effective Teachers in New Mexico 300,000

Habitat for Humanity International Inc

PO Box 5833
Hobbs,NM88241 		NONE PC Construction Costs 515,500

Haverhill Public Schools

4 Summer St
Haverhill,MA01830 		NONE GOV to support Haverhill Promise 41,088

Heal the City

PO Box 2556
Amarillo,TX79105 		NONE PC GENERAL OPERATING SUPPORT 5,000

Hector Angel Rivera Jr

318 South 1st Street
Lovington,NM88260 		NONE I 2019 Maddox Scholar 3,332

Hidden Genius Project

1441 Franklin Street Fourth Floor
Oakland,CA94612 		NONE PC GENERAL OPERATING SUPPORT 5,000

Hobbs Band Boosters

PO Box 3952
Hobbs,NM88240 		NONE PC GENERAL OPERATING SUPPORT 2,000

Hobbs Hispano Chamber of Commerce Foundation

PO Box 3003
Hobbs,NM88241 		NONE PC 2023 Mariachi Christmas, Fiestas de Septiembre 2024, 2024 Downtown Events 146,719

Hobbs Municipal Schools

1515 East Sanger PO Box 1030
Hobbs,NM88241 		NONE GOV Swim Meet Enhancements 2023 and band program 21,000

Hollins University Corporation

PO Box 9629
Roanoke,VA24020 		NONE PC GENERAL OPERATING SUPPORT AND the French departmenT 20,000

Holy Angels Inc

6600 W Wilkinson Blvd
Belmont,NC28012 		NONE PC GENERAL OPERATING SUPPORT 3,500

Jacob Ortega

PO Box 1442
Eunice,NM88231 		NONE I SCHOLARSHIP 5,000

James Engan

901 Nambe St
Hobbs,NM88240 		NONE I College Application Fees 205

Javier Prieto

1211 E Water Ave
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Jonathon Ted Salgado

701 West Cielo Dr
Hobbs,NM88240 		NONE I 2020 Maddox Scholar 5,000

Jorja Tate Wier

49 Wier Rd
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Josiah Matthews

2108 Avignon Dr
Carrollton,TX75007 		NONE I 2022 Maddox Scholar 4,900

Junior Service League of Hobbs Inc

PO Box 723
Hobbs,NM88241 		NONE PC 2023 Fall Superstar Shoe Program 2,000

Justice House

PO Box 2801
Hobbs,NM88240 		NONE PC GENERAL OPERATING SUPPORT 10,000

Kaitlyn Gallant

PO Box 1743
Eunice,NM88231 		NONE I 2022 Maddox Scholar 7,282

Kanza Society Inc High Plains Public Radio

3701 Plains Blvd Ste 1001
Amarillo,TX79102 		NONE PC GENERAL OPERATING SUPPORT 3,000

Kit Carson House Inc

113 Kit Carson Rd
Taos,NM87571 		NONE PC ROOF REPAIRS 11,000

Lea County Commission for the Arts Inc

122 W Broadway
Hobbs,NM88240 		NONE PC Broadway Workshop from The Touring Cast of "Come from Away 2024 OPERATING SUPPORT 64,000

Leadership New Mexico

PO Box 35696
Albuquerque,NM87176 		NONE PC Core Group Annual Dinner meeting event in Hobbs AND to support statewide leadership development activities for 2023-2024 20,000

Lions Club of Taos Inc

PO Box 199
Taos,NM87571 		NONE PC GENERAL OPERATING SUPPORT 1,000

Literacy Coalition of the Permian Basin

3500 N A St Suite 2700
Midland,TX79705 		NONE PC Lea County Literacy Support AND Attendee Gifts for Literacy Convening in Artesia in December 2024 34,100

Los Alamos National Laboratory Foundation

1112 Plaza Del Norte
Espanola,NM87532 		NONE PC New Mexico Principal Residency 30,000

Lovington Food Coalition

PO Box 726
Lovington,NM88260 		NONE PC Providing Backsnacks 30,000

Lovington Mainstreet Corporation

PO Box 1418
Lovington,NM88260 		NONE PC Lea Theatre Revitalization AND Smokin' on the Plaza 2024 95,878

Mason Brown

PO Box 886
Tatum,NM88267 		NONE I 2022 Maddox Scholar 5,000

Massachusetts Institute of Technology

PO Box 412926
Boston,MA02241 		NONE PC The Educational Justice Initiative 5,000

McCallie School Inc

500 Dodds Ave
Chattanooga,TN37404 		NONE PC GENERAL OPERATING SUPPORT 5,000

MD Anderson Cancer Center Outreach Corporation

1515 Holcombe Blvd Unit 91
Houston,TX77030 		NONE PC Child Life Division 5,000

Mesalands Community College

911 South Tenth Street
Tucumcari,NM88401 		NONE GOV GENERAL OPERATING SUPPORT 5,000

Michael J Fox Foundation for Parkinsons Research

Grand Central Station PO Box 4777
New York,NY10163 		NONE PC GENERAL OPERATING SUPPORT 5,000

Mykaylah Thomas

4800 Grey Ghost
Hobbs,NM88240 		NONE I 2022 Distinguished Scholar 40,653

MyPower Inc

PO Box 1756
Hobbs,NM88241 		NONE PC Boys Mentoring Circles Pilot Program 30,000

Nathanyel Kenneth Rodriguez

4145 North Apodaca Street
Hobbs,NM88240 		NONE I 2019 Maddox Scholar 2,500

New City School Inc

5209 Waterman Blvd
Saint Louis,MO63108 		NONE PC GENERAL OPERATING SUPPORT 33,000

New Mexico Junior College

5317 N Lovington Hwy
Hobbs,NM88240 		NONE GOV Western Heritage Museum Holiday Ice Skating Rink Purchase 60%, NMJC Spring Concert Series 2024, AND 2024 Hobbs August Nites 124,197

New Mexico Ramp Project

PO Box 90354
Albuquerque,NM87109 		NONE PC Lea County Wheelchair Ramp Project 2023 10,000

Nor-Lea Hospital District

1600 North Main
Lovington,NM88260 		NONE PC Guardian Angel Fund - pilot 10,000

Olivia Katherine Bova

1800 N Vega Drive
Hobbs,NM88240 		NONE I 2021 Maddox Scholar 7,500

One Love Worldwide

1223 El Caminito Dr
Hobbs,NM88240 		NONE PC GENERAL OPERATING SUPPORT 19,000

Opportunity House Inc

206 N Turner
Hobbs,NM88240 		NONE PC Vehicle Purchases 50,000

Opportunity School Inc

1100 S Harrison St
Amarillo,TX79101 		NONE PC GENERAL OPERATING SUPPORT 10,000

Osmar Abrego

1018 W Avenue J
Lovington,NM88260 		NONE I SCHOLARSHIP 5,000

Palmer Drug Abuse Program of Lea County Inc

PO Box 5185
Hobbs,NM88241 		NONE PC special kids program 12,000

Phoenix House - Sexual Assault & Domestic Violence Resource Center

221 E Green Acres Dr
Hobbs,NM88240 		NONE PC Emergency Transportation Funding 5,000

Project 40 31 Inc

122 W Taylor St
Hobbs,NM88240 		NONE PC GENERAL OPERATING SUPPORT 6,500

Puente A La Salud Comunitaria

1311-A East 6th Street
Austin,TX78702 		NONE PC GENERAL OPERATING SUPPORT 3,000

Purpose Medical Mission

PO Box 54237
Lubbock,TX79453 		NONE PC to support Mulunguishi health efforts 10,000

Ranley Camron Krueger

PO Box 35
Tatum,NM88267 		NONE I 2021 Maddox Scholar 7,885

Reading Allowed

275 S 19th St Ste 600
Philadelphia,PA19103 		NONE PC GENERAL OPERATING SUPPORT 3,000

Redirection Outreach Program Efforts for Youth

3500 W Golf Course Rd
Midland,TX79703 		NONE PC GENERAL OPERATING SUPPORT 250

Rocky Mountain Youth Corps

PO Box 1960
Ranchos de Taos,NM87557 		NONE PC GENERAL OPERATING SUPPORT 15,000

Sacramento Camp and Conference Center Inc

PO Box 8
Sacramento,NM88347 		NONE PC Ayers Project 81,000

Salem Academy and College

601 S Church Street
WinstonSalem,NC27101 		NONE PC Susan Leigh Maddox Science and Math Excellence Fund 5,000

Sarah Reaves

PO Box 519
Eunice,NM88231 		NONE I 2023 Maddox Scholar 2,500

Save the Children Federation Inc

501 Kings Highway East Suite 400
Fairfield,CT06825 		NONE PC GENERAL OPERATING SUPPORT 5,000

Shelly Judith Driskill

1102 W Cochiti Ave
Hobbs,NM88240 		NONE I 2020 Maddox Scholar 7,500

Sheri's House of Hope Inc

800 N Turner St
Hobbs,NM88240 		NONE PC 1 Year Executive Director Salary Assistance 50,000

Southwest Foundation for Osteopathic Education and Research

3501 Arrowhead Dr
Las Cruces,NM88001 		NONE PC Burrell Residency Program 286,125

St James Episcopal Church

208 Camino de Santiago
Taos,NM87571 		NONE PC food pantry 5,000

St Marks Episcopal School

3816 Bellaire Blvd
Houston,TX77025 		NONE PC GENERAL OPERATING SUPPORT 5,000

Storybridge Inc

PO Box 50524
Amarillo,TX79159 		NONE PC Dolly Parton Imagination Library 10,000

Susan G Komen Breast Cancer Foundation Inc National Office

13770 Noel Road Suite 801889
Dallas,TX75380 		NONE PC GENERAL OPERATING SUPPORT 5,000

Teagan McCool

5129 N JaRob Lane
Hobbs,NM88242 		NONE I 2023 Maddox Scholar 2,500

Team Haverhill Inc

PO Box 5034
Haverhill,MA01832 		NONE PC River Ruckus 1,000

Teen Court of Lea County Inc

2107 N KINGSLEY DR
Hobbs,NM88240 		NONE PC 2024-2025 Operations Funding 35,000

Texas Methodist Foundation

11709 Boulder Ln Ste 100
Austin,TX78726 		NONE PC Purpose Medical Mission 1,000

The Harwood Museum Alliance Inc

238 Ledoux Street
Taos,NM87571 		NONE PC Harwood Museum of ArT 3,000

Town of Tatum

PO Box 156
Tatum,NM88267 		NONE GOV Tatum Holiday 2,500

Trinity Episcopal Church

26 White St
Haverhill,MA01830 		NONE PC to strengthen community partnerships in support of the bilingual mission 4,000

Troy Anthony White

934 E Gold Avenue
Hobbs,NM88240 		NONE I 2019 Distinguished Scholar 27,051

Turn the Page STL

5501 Delmar Blvd Suite A490
Saint Louis,MO63112 		NONE PC GENERAL OPERATING SUPPORT 25,000

United Military Women of the Southwest

PO Box 2534
Las Cruces,NM88004 		NONE PC GENERAL OPERATING SUPPORT 10,000

United Way of Lea County Inc

320 N Shipp Ste B
Hobbs,NM88240 		NONE PC Campaign Support and 2024 Hobbs August Nites Family Entertainment 386,221

United Way of Pickens County

PO Box 96
Easley,SC29641 		NONE PC Camp Irock 2,500

University of New Mexico Foundation Inc

Two Woodward Center 700 Lomas Blvd
NE Ste 108
Albuquerque,NM87131 		NONE PC GENERAL OPERATING SUPPORT 10,000

University of the Southwest

6610 N Lovington Hwy
Hobbs,NM88240 		NONE PC Grant Research & Grant Writing; Establishment of a USW Development Office 50,250

Uplifting Athletes Inc

PO Box 574
Doyelstown,PA18901 		NONE PC GENERAL OPERATING SUPPORT 2,500

VFW New Mexico Foundation

PO Box 1084
Ruidoso Downs,NM88346 		NONE PC Warming and Comfort Stations 15,000

Wake Forest University

Box 7227
WinstonSalem,NC27109 		NONE PC designated to the Law Fund and to the Maddox Law Scholarship 33,000

Washington University

1 Brookings Drive
Saint Louis,MO63130 		NONE PC to support the Doug Mann lecture 10,000

Wholly Rags

PO Box 1051
Ranchos de Taos,NM87557 		NONE PC GENERAL OPERATING SUPPORT 5,000

Women's Economic Self-Sufficiency Team

609 Broadway Boulevard NE
Albuquerque,NM87102 		NONE PC Downtown Night Market - Fall 2024; WESST in Hobbs 27,000

Yassine Tigui

7 Mighty Atom Circle
Hobbs,NM88240 		NONE I SCHOLARSHIP 5,000
Total .................................right arrow 3a 4,160,529
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 5,231,939  
4 Dividends and interest from securities .... 901101 58,783 14 3,325,012  
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 ............ 		901101 451,410 18 3,395,331  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPARTNERSHIP OTHER INCOME 		901101 157,219 14 1,741,062  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 667,412 13,693,344 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
14,360,756
(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: 24020961
Software Version: 2024v5.1


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Audit and tax compliance services 77,653 34,033 0 11,345

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

TY 2024 DepreciationSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
Automobiles   81,920 76,854 SL 5.0 16,384      
Office equipment & furniture   293,600 264,953 SL 3.0 28,390 11,006    
Leasehold improvements   285,457 238,719 SL 15.0 7,990      

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

TY 2024 GainLossSaleOtherAssetsSch
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
ST GAIN/(LOSS) FROM PASS-THROUGH ENTITIES         345,638       345,638  
LT GAIN/(LOSS) FROM PASS-THROUGH ENTITIES         1,762,904       1,762,904  
ST GAIN/(LOSS) FROM SECURITIES         360,252       360,252  
LT GAIN/(LOSS) FROM SECURITIES         1,377,947       1,377,947  

TY 2024 InvestmentsCorpStockSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Name of Stock End of Year Book Value End of Year Fair Market Value
Publicly Traded Securities 98,489,571 117,350,464

TY 2024 InvestmentsLandSchedule2
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDINGS 236,349 0 236,349 236,349

TY 2024 InvestmentsOtherSchedule2
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Alternative Investments FMV 140,933,110 146,547,048

TY 2024 LandEtcSchedule2
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
AUTOMOBILES 81,920 76,854 5,066 5,066
EQUIPMENT & FURNITURE 293,600 264,953 28,647 28,647
LEASEHOLD IMPROVEMENTS 285,457 238,719 46,738 46,738


TY 2024 LegalFeesSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
General legal services 34,348 8,199 0 25,761


TY 2024 OtherAssetsSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Other Assets 17,538 500 500
Other Tax Refund 30,924 7,969 7,969


TY 2024 OtherExpensesSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
AUTO EXPENSE 11,975 2,859 0 8,981
DUES & SUBSCRIPTIONS 114,744 27,389 0 86,058
GRANT ADMINSTRATION 418,252 0 0 418,252
RECRUITMENT 428 428 0 0
INSURANCE 47,768 11,402 0 35,826
LICENSES & FEES 1,622 388 0 1,216
MAINTENANCE AGREEMENTS 319,337 76,225 0 239,503
MEALS & ENTERTAINMENT 56,672 0 0 42,504
MISCELLANEOUS 2,470 590 0 1,852
OFFICE EXPENSE 54,459 13,000 0 40,844
POSTAGE 5,485 1,310 0 4,113
PASS-THROUGH INTEREST EXPENSE 319,455 227,564 0 75,855
TRAINING 48,590 11,598 0 36,443
OTHER PASS-THROUGH INVESTMENT EXPENSES 2,801,942 1,911,360 0 0
PENALTIES 2,046 0 0 0
PROVISION FOR LOAN LOSSES 200,000 0 0 0


TY 2024 OtherIncomeSchedule2
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME FROM PASS-THROUGH INVESTMENTS 1,897,960 1,682,279 0
Credit Card Rewards 321 0 0


TY 2024 OtherProfessionalFeesSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
CONSULTING FEES 592,020 308,946 0 268,449
INVESTMENT FEES 1,353,104 1,291,944 0 0


TY 2024 TaxesSchedule
Name:
JF Maddox Foundation
EIN:
75-6023767
Software ID:
24020961
Software Version:
2024v5.1
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal Taxes Paid 287,093 0 0 0
Tax from pass-through 55,363 10,142 0 0
State Taxes paid 912 0 0 0