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
FELBURN FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO PKFOD 2 BETHESDA METRO CTR 54
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BETHESDA, MD208146319
A Employer identification number

51-0234331
B Telephone number (see instructions)

(301) 652-3464
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$44,230,661J 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 95,084 95,084  
4 Dividends and interest from securities... 931,324 931,324  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,133,462
b Gross sales price for all assets on line 6a 13,050,928
7 Capital gain net income (from Part IV, line 2)... 2,133,148
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
6,312 6,312  
12 Total. Add lines 1 through 11........ 3,166,182 3,165,868  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 180,000 45,000   135,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
21,573 0   21,573
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
292,990 264,865   28,125
17 Interest............... 71 71   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
28,894 777   1,517
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 12,254 0   12,254
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
24,224 4,813   19,411
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 560,006 315,526   217,880
25 Contributions, gifts, grants paid....... 2,148,400 2,148,400
26 Total expenses and disbursements. Add lines 24 and 25 2,708,406 315,526   2,366,280
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 457,776
b Net investment income (if negative, enter -0-) 2,850,342
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............. 183,569 111,490 111,490
2 Savings and temporary cash investments......... 2,202,759 2,160,044 2,160,044
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment
List of Attached Documents:
// Content
503,410 		505,508
b Investments—corporate stock (attach schedule)....... 3,504,712 Click to see attachment
List of Attached Documents:
// Content
5,436,765 		9,499,964
c Investments—corporate bonds (attach schedule)....... 5,965,715 Click to see attachment
List of Attached Documents:
// Content
8,055,364 		8,069,548
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).......... 21,651,063 Click to see attachment
List of Attached Documents:
// Content
17,573,467 		22,259,831
14 Land, buildings, and equipment: basis right arrow1,626,268
Less: accumulated depreciation (attach schedule) right arrow1,992 1,499,222 Click to see attachment
List of Attached Documents:
// Content
1,624,276 		1,624,276
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 35,007,040 35,464,816 44,230,661
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........... 35,007,040 35,464,816
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)..... 35,007,040 35,464,816
30 Total liabilities and net assets/fund balances (see instructions). 35,007,040 35,464,816
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
35,007,040
2
Enter amount from Part I, line 27a .....................
2
457,776
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
35,464,816
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
35,464,816
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b THRU SCHEDULE K-1-PETERSHILL II OFFSHORE LP P    
c CAPITAL GAINS DIVIDENDS P    
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 12,743,946   10,928,478 1,815,468
b       10,698
c 306,982     306,982
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,815,468
b       10,698
c       306,982
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 2,133,148
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 39,620
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 39,620
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 39,620
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 27,020
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 60,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 87,020
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
8 384
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 47,016
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow47,016 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowFL, GA, NC, SC, VA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowPKF O'CONNOR DAVIES ADVISORY LLC Telephone no.right arrow (301) 652-3464

Located atright arrowC/O PKFOD 2 BETHESDA METRO CTR STE540BETHESDAMD ZIP+4right arrow208146319
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
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
LARRY J WHITE DIRECTOR, PRESIDENT, CHAIRMAN
20.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
B KEMP FLOYD JR DIRECTOR, VICE PRESIDENT
10.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
GUY B MARWICK SECRETARY, TREASURER, EXEC DIR
40.00 		60,000 0 0
C/O PKFOD 2 BETHESDA METRO CTR STE
540
BETHESDA,MD208146319
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
NEUBERGER BERMAN INVESTMENT ADVISERS LLC INVESTMENT MANAGEMENT AND ADVISORY 127,874
1290 AVENUE OF THE AMERICAS
NEW YORK,NY101040001
PNC INSTITUTIONAL ASSET MANAGEMENT INVESTMENT MANAGEMENT AND ADVISORY 86,795
PO BOX 91309
CLEVELAND,OH441013309
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
40,168,914
b
Average of monthly cash balances.......................
1b
2,451,906
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
42,620,820
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
42,620,820
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
639,312
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
41,981,508
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,099,075
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
2,099,075
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
39,620
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
39,620
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,059,455
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
2,059,455
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,059,455
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
2,366,280
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
125,054
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
2,491,334
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 2,059,455
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022...... 28,152
e From 2023...... 521,537
f Total of lines 3a through e ........ 549,689
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 2,491,334
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 2,059,455
e Remaining amount distributed out of corpus 431,879
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 5 981,568
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		981,568
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022.... 28,152
d Excess from 2023.... 521,537
e Excess from 2024.... 431,879
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:
GUY MARWICK EXECUTIVE DIRECTOR
1515 SILVER SPRINGS BOULEVARD SUITE
102
OCALA,FL344706814
(352) 368-6686
bThe form in which applications should be submitted and information and materials they should include:
IN WRITING, WITH DESCRIPTIONS OF THE APPLICANT AND OF THE PURPOSE OR PROJECT FOR WHICH THE REQUEST IS BEING MADE, A COPY OF THE APPLICANT'S 501(C)(3) LETTER, AND A STATEMENT (IN A FORM PROVIDED BY THE FOUNDATION) THAT GRANT FUNDS WILL BE USED EXCLUSIVELY FOR TAX PERMISSIBLE CHARITABLE PURPOSES.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
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

AMERICAN ASSOCIATION OF ZOO VETERINARIANS

370 ZOO PARKWAY
JACKSONVILLE,FL32218 		N/A PC WILD ANIMAL HEALTH FUND 20,000

AMERICAN CHESTNUT FOUNDATION

50 NORTH MERRIMON AVENUE SUITE 115
ASHEVILLE,NC28804 		N/A PC MEADOWVIEW RESEARCH FARMS INTERNSHIP PROGRAM 15,000

CEDAR KEY HISTORICAL SOCIETY INC

PO BOX 222
CEDAR KEY,FL32625 		N/A PC MUSEUM COURTYARD AND GARDENS RESTORATION 14,400

CEDAR LAKES WOODS AND GARDENS

4990 NE 180TH AVE
WILLISTON,FL32696 		N/A PC CONSERVATION EDUCATION CENTER 50,000

CHIMP HAVEN INC

13600 CHIMPANZEE PLACE
KEITHVILLE,LA71047 		N/A PC OPERATIONAL SUPPORT 10,000

CLEARWATER MARINE AQUARIUM INC

249 WINDWARD PASSAGE
CLEARWATER,FL33767 		N/A PC MAINTENANCE AND MANATEE CONSERVATION PROGRAMS 30,000

COASTAL PLAINS INSTITUTE INC

46 KINSEY ROAD
CRAWFORDVILLE,FL32327 		N/A PC STRIPED NEWT REPATRIATION AND EDUCATION INITIATIVE 25,000

COLUMBIA LAND TRUST

850 OFFICERS ROW
VANCOUVER,WA98661 		N/A PC ANNUAL OPERATIONAL SUPPORT AND CAPITAL CAMPAIGN 300,000

CONSERVATION FLORIDA INC

37 NORTH ORANGE AVENUE SUITE 323
ORLANDO,FL32801 		N/A PC OPERATIONAL SUPPORT 100,000

CONSERVATION FOUNDATION OF THE GULF COAST

PO BOX 902
OSPREY,FL34229 		N/A PC OPERATIONAL SUPPORT 50,000

ENDANGERED ANIMAL RESCUE SANCTUARY (EARS)

PO BOX 306
CITRA,FL32113 		N/A PC NEW STORAGE FREEZER 50,000

ENDANGERED SPECIES PROTECTION AGENCY USA FOUNDATION

561 RIVER RUN LANE
HOYTSVILLE,UT84017 		N/A PC PROJECT ALPHA: RANGER MENTORING 25,000

FLAMINGO GARDENS INC

3750 SOUTH FLAMINGO ROAD
DAVIE,FL33330 		N/A PC CARE AND FEEDING OF RESCUED ANIMALS 15,000

FLORIDA BLACK BEAR SCENIC BYWAY

325 JOHN KNOX ROAD BLDG F SUITE 210
TALLAHASSEE,FL32303 		N/A PC KIOSK PROGRAM 10,000

FLORIDA STATE PARKS FOUNDATION INC

1700 N MONROE STREET 11 200
TALLAHASSEE,FL32303 		N/A PC CORAL & SEAGRASS RESTORATION & PROTECTION VESSEL & BUOYS 20,000

FLORIDA TRAIL ASSOCIATION

1022 NW 2ND ST
GAINESVILLE,FL32601 		N/A PC IDIDAHIKE 2025 1,000

FLORIDA WILDLIFE CORRIDOR FOUNDATION

2606 FAIRFIELD AVE S BLDG 7
ST PETERSBURG,FL33712 		N/A PC MIND THE GAPS WORKSHOPS 50,000

FOREST ANIMAL RESCUE

640 NE 170TH COURT
SILVER SPRINGS,FL34488 		N/A PC PROGRAM EXPANSION 25,000

FORT WHITE HIGH SCHOOL

17828 SW ST ROAD 47
FORT WHITE,FL32038 		N/A PC PARKNERSHIP PROGRAM COORDINATOR POSITION 7,000

FRIENDS OF SILVER SPRINGS STATE PARK

1425 NE 58TH AVE
OCALA,FL34470 		N/A PC 2025 FLORIDA SPRINGSFEST SUPPORT 5,000

GEORGE MIKSCH SUTTON AVIAN RESEARCH CENTER INC

PO BOX 2007
BARTLESVILLE,OK74005 		N/A PC GENERAL OPERATING 10,000

HORRY SOIL & WATER CONSERVATION DISTRICT

1949 INDUSTRIAL PARK RD 125
CONWAY,SC29526 		N/A PC VENUS FLY TRAP RESTORATION PROJECT 10,000

HORSE FARMS FOREVER INC

PO BOX 5279
OCALA,FL34478 		N/A PC 2024 CONSERVATION SUMMIT SUPPORT 5,000

HORSE PROTECTION ASSOCIATION OF FLORIDA (HPAF)

20690 NW 130TH AVENUE
MICANOPY,FL32667 		N/A PC OPERATIONAL SUPPORT 50,000

HOWARD T ODUM FLORIDA SPRINGS INSTITUTE INC

18645 HIGH SPRINGS MAIN STREET
HIGH SPRINGS,FL32643 		N/A PC FL SPRINGS WELCOME CENTER CAMPAIGN 75,000

IDEAS FOR US

1030 WEST KALEY AVENUE
ORLANDO,FL32805 		N/A PC OPERATIONAL SUPPORT FOR C-LEVEL TEAM 15,000

INSIDE CLIMATE NEWS

26 COURT STREET SUITE 1617
BROOKLYN,NY11242 		N/A PC FLORIDA BUREAU REPORTERS SALARY AND COVERAGE EXPANSION 20,000

INTERNATIONAL CRANE FOUNDATION INC

PO BOX 447
BARABOO,WI53913 		N/A PC WHOOPING CRANE PROTECTION 50,000

LANIER LIBRARY ASSOCIATION

72 CHESTNUT STREET
TRYON,NC28782 		N/A PC LIBRARY'S ENDOWMENT FUND 15,000

NATIONAL AUDUBON SOCIETY INC

4500 BISCAYNE BOULEVARD SUITE 350
MIAMI,FL33137 		N/A PC OWL AVIARY AND CLINICAL SUPPORT 25,000

NORTH FLORIDA LAND TRUST

843 W MONROE ST
JACKSONVILLE,FL32202 		N/A PC CAPACITY STAFF SUPPORT GROWTH 100,000

ONE TREE PLANTED INC

145 PINE HAVEN SHORES ROAD 1000D
SHELBURNE,VT05482 		N/A PC SOUTHEAST US 2024 NATURAL DISASTER RECOVERY 25,000

PANTHERA CORP

8 WEST 40TH STREET 18TH FLOOR
NEW YORK,NY10018 		N/A PC TIGER PROTECTION IN MALAYSIAS TAMAN NEGARA LANDSCAPE 50,000

PARTNERSHIP FOR GULF COAST LAND CONSERVATION

PO BOX 13121
TALLAHASSEE,FL32317 		N/A PC PROJECT ASSISTANCE FUND 10,000

PELICAN HARBOR SEABIRD STATION

1279 NE 79TH STREET CAUSEWAY
MIAMI,FL33138 		N/A PC ENVIRONMENTAL EDUCATION SUPPORT 10,000

PRIMATES INCORPORATED

PO BOX 7384
MADISON,WI53707 		N/A PC STAFF COSTS 15,000

PUBLIC EDUCATION FOUNDATION OF MARION COUNTY INC

PO BOX 670
OCALA,FL34478 		N/A PC BIG SPRINGS STEM FAIR 19,500

PUBLIC EDUCATION FOUNDATION OF MARION COUNTY INC

PO BOX 670
OCALA,FL34478 		N/A PC NEW MUSEUM TRUCK ACQUISITION 20,000

PUTNAM LAND CONSERVANCY INC

PO BOX 667
INTERLACHEN,FL32148 		N/A PC OPERATIONAL SUPPORT 20,000

RAINFOREST TRUST

PO BOX 841
WARRENTON,VA20188 		N/A PC CRITICAL GAP PROTECTION FOR JAGUARS AND GIANT ANTEATERS IN ARGENTINA 20,000

REEF RELIEF INC

PO BOX 430
KEY WEST,FL33041 		N/A PC CORAL REEF CONSERVATION PROGRAM 10,000

SAVE THE CHIMPS

PO BOX 12220
FORT PIERCE,FL34979 		N/A PC NUTRITIONAL AND VETERINARY SERVICES 20,000

SEA TURTLE CONSERVANCY

4581 NW 6TH STREET SUITE A
GAINESVILLE,FL32609 		N/A PC SEA TURTLE PROTECTION ALONG FLORIDAS NATURE COAST 15,000

SHEPHERD CENTER FOUNDATION INC

2020 PEACHTREE ROAD NW
ATLANTA,GA30309 		N/A PC RECREATION THERAPY PROGRAM 100,000

ST JOHNS RIVERKEEPER

2800 UNIVERSITY BLVD N
JACKSONVILLE,FL32211 		N/A PC SAVE OUR RIVERS GRASSES EXPEDITION 25,000

THE ALLIANCE FOR WEEDON ISLAND ARCHAEOLOGICAL RESEARCH AND EDUCATION

1500 WEEDON DRIVE NE
ST PETERSBURG,FL33702 		N/A PC GENERAL OPERATING 12,500

THE CONSERVATION FUND

7204 SE COUNTY ROAD 234
GAINESVILLE,FL32641 		N/A PC BLACK RIVER WILLIE TRACT PROTECTION 100,000

THE NATURE CONSERVANCY

4245 NORTH FAIRFAX DRIVE SUITE 100
ARLINGTON,VA22203 		N/A PC GREGORIE NECK PROJECT/SC REVOLVING LAND FUND 150,000

TRUMPETER SWAN SOCIETY

12615 ROCKFORD ROAD
PLYMOUTH,MN55441 		N/A PC OPERATIONAL EXPENSES AND PROGRAM SUPPORT 15,000

TUCSON WILDLIFE CENTER INC

PO BOX 18320
TUCSON,AZ85731 		N/A PC FOOD AND NUTRITION FOR WILDLIFE RECOVERY 15,000

TURTLE SURVIVAL ALLIANCE FOUNDATION

5900 CORE ROAD SUITE 504
NORTH CHARLESTON,SC29406 		N/A PC TURTLE SURVIVAL CENTER FACILITIES UPDATES AND ANIMAL CARE 29,000

UNIVERSITY OF FLORIDA FOUNDATION INC

PO BOX 112710
GAINESVILLE,FL32611 		N/A PC SAVING FRESHWATER MOLLUSKS OF FLORIDA ASSESSMENT 35,000

UNIVERSITY OF FLORIDA FOUNDATION INC

PO BOX 112710
GAINESVILLE,FL32611 		N/A PC PREPARATOR AND FIELDWORK PERSONNEL SALARIES FOR MONTBROOK FOSSIL SITE 60,000

UNIVERSITY OF NORTH FLORIDA ENVIRONMENTAL CENTER

1 UNF DRIVE BUILDING 16 ROOM 3111
JACKSONVILLE,FL32224 		N/A PC ENVIRONMENTAL LEADERSHIP PROGRAM 60,000

WILD EARTH ALLIES INC

2 WISCONSIN CIRCLE
CHEVY CHASE,MD20815 		N/A PC NATIVE TREE RESTORATION EXPANSION IN DELAWARE 20,000

WILD LANDSCAPES

113 S MONROE ST 1ST FL
TALLAHASSEE,FL32301 		N/A PC RHINO HABITAT RESTORATION 50,000

WINYAH RIVERS FOUNDATION INC

PO BOX 554
CONWAY,FL29528 		N/A PC WATER QUALITY MONITORING AND CONSERVATION PROGRAMS 25,000

YANKEETOWN INGLIS WOMAN'S CLUB

5 56TH ST
YANKEETOWN,FL34498 		N/A PC LIBRARY REPAIRS AFTER HURRICANE FLOOD DAMAGE 10,000

ZOOLOGICAL SOCIETY OF MILWAUKEE

10005 W BLUEMOUND RD
MILWAUKEE,WI53226 		N/A PC WILD BIRDS PROGRAM 10,000
Total .................................right arrow 3a 2,148,400
bApproved for future payment

WILDLANDS NETWORK DBA WILD EARTH SOCIETY INC
PO BOX 243
SALT LAKE CITY,UT84110 		N/A PC RED WOLF WILDLIFE ROAD CROSSINGS 30,000
Total ................................. right arrow 3b 30,000
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 95,084  
4 Dividends and interest from securities ....     14 931,324  
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 314 18 2,133,148  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aTHRU SCHEDULE K-1-OTHER PORTFOLIO INCOME (LOSS) 		    14 6,312  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 314 3,165,868 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,166,182
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ANNUAL BOOKKEEPING AND TAX RETURN PREPARATION 21,573 0   21,573

TY 2024 InvestmentsCorpBondsSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE INC NOTE 3.600% 05/14/2025 (00287YAQ2) 120,000 QTY 121,113 119,503
ADOBE INC NOTE 3.250% 02/01/2025 (00724FAC5) 80,000 QTY 80,076 79,890
AMERICAN EXPRESS CO NOTE CALL MAKE WHOLE 5.64500% (025816DT3) 215,000 QTY 215,000 217,304
AMERICAN TOWER CORP NOTE 5.800% 11/15/2028 (03027XCE8) 95,000 QTY 94,836 97,526
BANK AMERICA CORP SER N MTN 5.202% 04/25/2029 (06051GLG2) 60,000 QTY 60,084 60,280
BANK NEW YORK MELLON CORP MTN 5.802% 10/25/2028 (06406RBL0) 115,000 QTY 115,000 118,055
BANK NOVA SCOTIA B C MTN CALL MAKE WHOLE 5.4000% (06418GAH0) 215,000 QTY 214,759 218,381
CANADIAN IMPERIAL BK COMM TORO 3.945% 08/04/2025 (13607H6M9) 125,000 QTY 123,971 124,510
CATERPILLAR FINL SVCS MTNS BE SER K 5.0000% (14913UAL4) 135,000 QTY 134,852 136,374
CITIGROUP INC 5.17400% 02/13/230 (172967PF2) 165,000 QTY 165,000 164,875
CNH INDUSTRIAL CAPITAL LLC NOTE 4.550% 04/10/2028 (12592BAQ7) 130,000 QTY 128,514 128,223
COMCAST CORP NEW NOTE 4.550% 01/15/2029 (20030NED9) 150,000 QTY 149,676 148,521
CONNECTICUT LT &PWR CO SER 2024A BOND 4.6500% 01/01/2029 150,000 QTY 149,879 149,238
CROWN CASTLE INC NOTE 3.700% 06/15/2026 (22822VAC5) 145,000 QTY 149,562 142,632
CVS HEALTH CORP 5.4000% 06/01/29 (126650EB2) 140,000 QTY 139,864 140,059
DUKE ENERGY CORP NEW NOTE 5.000% 12/08/2027 (26441CBW4) 120,000 QTY 120,348 120,856
EASTMAN CHEM CO NOTE 3.800% 03/15/2025 (277432AR1) 6,000 QTY 6,011 5,986
ENBRIDGE INC NOTE 6.000% 11/15/2028 (29250NBX2) 150,000 QTY 150,259 155,308
GENERAL MILLS INC NOTE 5.500% 10/17/2028 (370334CW2) 150,000 QTY 149,199 153,111
GILEAD SCIENCES INC 4.800% (375558CB7) 11/15/29 225,000 QTY 224,973 224,539
GOLDMAN SACHS GROUP INC NOTE 5.72700% 04/25/2030 (38141GA87) 215,000 QTY 215,000 219,431
HOME DEPOT INC NOTE 4.000% 09/15/2025 (437076CR1) 125,000 QTY 124,625 124,579
INGERSOLL RAND INC NOTE 5.17600% 06/15/2029 (45687VAD8) 215,000 QTY 214,985 217,124
INTEL CORP NOTE 4.875% 02/10/2028 (458140CE8) 125,000 QTY 125,552 124,363
INTUIT NOTE 5.125% 09/15/2028 (46124HAF3) 150,000 QTY 149,693 152,246
JOHN DEERE CAP CORP SER H 4.150% 09/15/2027 (24422EWK1) 125,000 QTY 124,786 123,791
JOHNSON CTLS INTL PLC/TYCO NOTE 5.5000% 04/19/29 (477921AA8) 215,000 QTY 214,675 218,918
JPMORGAN CHASE & CO NOTE 5.58100% 04/22/2030 (46647PEG7) 65,000 QTY 65,000 66,284
JPMORGAN CHASE & CO NOTE 6.087% 10/23/2029 (46647PDX1) 150,000 QTY 150,000 155,586
LABORATORY CORP AMER HLDGS NOTE 3.600% 02/01/2025 (50540RAQ5) 110,000 QTY 110,188 109,881
LOCKHEED MARTIN CORP 4.500% 02/15/29 (539830CC1) 165.000 QTY 164,635 163,126
M & T BK CORP NOTE 4.553% 08/16/2028 (55261FAQ7) 125,000 QTY 125,303 123,671
MASTERCARD INCORPORATED NOTE 4.10000% 01/15/2028 (57636QBA1) 225,000 QTY 224,876 222,561
MEDTRONIC GLOBAL HLDGS S C A NOTE 4.250% 03/30/2028 (58507LBB) 145,000 QTY 144,555 143,192
MERCK &CO INC NOTE 4.050% 05/17/2028 (58933YBH7) 150,000 QTY 149,879 147,797
META PLATFORMS INC NOTE 4.600% 05/15/2028 (30303M8L9) 150,000 QTY 149,964 150,192
MORGAN STANLEY MTN 5.65600% 04/18/30 (61747YFQ3) 215,000 QTY 215,000 218,861
MOTOROLA SOLUTIONS INC NOTE 5.0000% 04/15/2029 (620076BY4) 165,000 QTY 164,622 164,748
NATIONAL RURAL UTILS COOP FIN MTN 5.1000% (63743HFR8) 135,000 QTY 134,916 136,083
NEXTERA ENERGY CAP HLDGS INC 4.900% 02/28/2028 (65339KCM0) 125,000 QTY 124,741 125,169
PHILLIPS 66 CO NOTE 4.950% 12/01/2027 (718547AT9) 145,000 QTY 144,664 146,182
QUEST DIAGNOSTICS INC NOTE 3.450% 06/01/2026 (74834LAZ3) 120,000 QTY 124,131 118,036
ROPER TECHNOLOGIES INC NOTE 4.50000% 10/15/2029 (776696AG1) 215,000 QTY 214,033 211,119
RYDER SYS INC MTN 5.250% 06/01/2028 (78355HKW8) 150,000 QTY 149,807 151,556
SCHLUMBERGER INVT SA NOTE 4.500% 05/15/2028 (806854AK1) 150,000 QTY 150,019 148,823
STATE STR CORP NOTE 4.993% 03/18/027 (857477CL5) 165,000 QTY 165,150 166,373
TORONTO DOMINION BK ONT SER C 4.78300% 12/17/2029 (89115A3C4) 165,000 QTY 165,000 162,701
UNILEVER CAP CORP NOTE CALL MAKE WHOLE 4.25000% (904764BU0) 215,000 QTY 214,617 213,744
US BANCORP MTN 5.727% 10/21/2026 (91159HJH4) 115,000 QTY 115,000 115,774
VALERO ENERGY CORP NOTE 3.400% 09/15/2026 (91913YAU4) 145,000 QTY 148,996 141,894
WALMART INC NOTE 3.900% 09/09/2025 (931142EW9) 125,000 QTY 124,912 124,561
WELLS FARGO & CO MTN 5.70700% 04/22/28 (95000U3L5) 65,000 QTY 65,000 66,069
WELLS FARGO & CO SER W MTN 6.303% 10/23/2029 (95000U3G6) 150,000 QTY 150,000 156,102
WESTPAC BANKING CORPORATION NOTE 2.850% 05/13/2026 (961214CX9) 120,000 QTY 123,371 117,335
WISONSIN ELEC CO BOND 5.0000% 05/15/2029 (976656CQ9) 215,000 QTY 214,693 216,505

TY 2024 InvestmentsCorpStockSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBOTT LABORATORIES (ABT) 1,200.000 SHARES 128,425 135,732
ALPHABET INC CAP STK CL C (GOOG) 1,835.000 SHARES 80,890 349,457
AMAZON.COM (AMZN) 2,000.000 SHARES 191,545 438,780
AMETEK INC NEW (AME) 18.000 SHARES 3,007 3,244
ANSYS INC (ANSS) 7.000 SHARES 2,527 2,361
APPLE INC (AAPL) 2,350.000 SHARES 110,033 588,487
ARCH CAPITAL GROUP LTD (ACGL) 95.000 SHARES 5,170 8,773
ARES MANAGEMENT CORP - A (ARES) 39.000 SHARES 3,636 6,904
ASML HOLDING NV (ASML) 500.000 SHARES 41,252 346,540
ASTRAZENECA PLC SPON ADR EACH REP 0.50 (AZN) 2,275.000 SHARES 152,225 149,058
AUTODESK INC (ADSK) 18.000 SHARES 6,141 5,320
BROADCOM INC COM (AVGO) 775.000 SHARES 178,839 179,676
BROOKFIELD ASSET MGMT-A (BAM) 79.000 SHARES 3,322 4,281
BROOKFIELD CORP (BN) 400.000 SHARES 17,110 22,980
BROOKFIELD INFRASTRUCTURE CORP (BIPC) 302.000 SHARES 11,927 12,083
BROOKFIELD RENEWABLE CORP CL A (BEPC) 127.000 SHARES 5,045 3,513
BROWN & BROWN INC (BRO) 152.000 SHARES 8,800 15,507
CARMAX INC (KMX) 112.000 SHARES 12,480 8,340
CBRE GROUP INC (CBRE) 87.000 SHARES 8,134 11,422
CCC INTELLIGENT SOLUTIONS HO (CCCS) 373.000 SHARES 4,472 4,375
CDW CORP (CDW) 710.000 SHARES 78,652 123,568
CHURCH & DWIGHT CO INC (CHD) 1,800.000 SHARES 59,556 188,478
COOPER COS INC COM (COO) 2,500.000 SHARES 243,465 229,825
COPART INC (CPRT) 375.000 SHARES 13,162 21,521
COSTAR GROUP INC (CSGP) 181.000 SHARES 15,190 12,958
DANAHER CORPORATION (DHR) 600.000 SHARES 32,000 137,730
DIMENSIONAL INTERNATIONAL VA (DFIV) 5.588 SHARES 200,376 198,262
DOMINO'S PIZZA, INC (DPZ) 20.000 SHARES 9,633 7,975
EDWARDS LIFESCIENCES CORP (EW) 2,380.000 SHARES 46,549 176,191
ELI LILLY & CO (LLY) 350.000 SHARES 109,126 270,200
ENTEGRIS,INC (ENTG) 14.000 SHARES 1,561 1,387
EQT CORP COM (EQT) 3,350.000 SHARES 127,877 154,469
FAIR ISAAC CORPORATION (FICO) 7.000 SHARES 10,044 13,937
FASTENAL CO (FAST) 70.000 SHARES 3,877 5,034
FISERV INC (FI) 1,700.000 SHARES 60,629 349,214
FLOOR & DCOR HOLDINGS INC (FND) 14.000 SHARES 1,446 1,396
GALLAGHER ARTHUR J & CO (AJG) 152.000 SHARES 5,063 5,109
GARTNER INC (IT) 22.000 SHARES 7,558 10,658
GRACO INC (GGG) 23.000 SHARES 1,921 1,939
GXO LOGISTICS INCORPORATED COMMON STOCK (GXO) 5,100.000 SHARES 261,821 221,850
HEICO CORP NEW CL A (HEIA) 110.000 SHARES 13,087 20,469
HILTON WORLDWIDE HLDGS (HLT) 87.000 SHARES 11,283 21,503
HOME DEPOT INC (HD) 725.000 SHARES 157,225 282,018
HYATT HOTELS CORP CL A (H) 27.000 SHARES 2,025 4,238
IDEXX LABS INC (IDXX) 7.000 SHARES 4,700 2,894
INTUIT INC (INTU) 450.000 SHARES 42,292 282,825
JPMORGAN CHASE & CO (JPM) 1,600.000 SHARES 116,642 383,536
KKR & CO INC (KKR) 155.000 SHARES 10,012 22,926
LENNAR CORP CLASS A (LEN) 56.000 SHARES 6,093 7,637
LENNAR CORP CLASS B (LENB) 30.000 SHARES 1,099 3,965
LIBERTY MEDIA CORP-LIB-NEW-A (FWONA) 27.000 SHARES 1,716 2,269
LIBERTY MEDIA CORP-LIB-NEW-C (FWONK) 70.000 SHARES 3,402 6,486
LIVE NATION ENTERTAINMENT INC (LYV) 87.000 SHARES 7,581 11,267
MARKEL GROUP INC (MKL) 7.000 SHARES 8,890 12,084
MARTIN MARIETTA MATLS INC (MLM) 21.000 SHARES 9,727 10,847
MASTERCARD INCORPORATED CL A (MA) 525.000 SHARES 181,109 276,449
MCDONALDS CORP (MCD) 700.000 SHARES 187,321 202,923
META PLATFORMS INC CLASS A COMMON STOCK (META) 350.000 SHARES 164,296 204,929
MICROCHIP TECHNOLOGY INC (MCHP) 86.000 SHARES 6,309 4,932
MICROSOFT CORP (MSFT) 1,500.000 SHARES 229,652 632,250
MOODY'S CORP (MCO) 7.000 SHARES 2,714 3,314
MOTOROLA SOLUTIONS INC (MSI) 475.000 SHARES 50,695 219,559
MSCI INC (MSCI) 16.000 SHARES 9,038 9,600
NEXTERA ENERGY INC (NEE) 2,500.000 SHARES 184,588 179,225
NVIDIA CORPORATION COM (NVDA) 5,000.000 SHARES 603,139 671,450
O REILLY AUTOMOTIVE INC (ORLY) 16.000 SHARES 9,681 18,973
PERIMETER SOLUTIONS SA (PRM) 194.000 SHARES 2,355 2,479
PROCORE TECHNOLOGIES INC (PCOR) 35.000 SHARES 2,944 2,623
PROCTER AND GAMBLE CO COM (PG) 1,100.000 SHARES 172,297 184,415
PROGRESSIVE CORP OHIO (PGR) 20.000 SHARES 1,934 4,792
REGENERON PHARMACEUTICALS INC (REGN) 150.000 SHARES 71,581 106,850
ROPER TECHNOLOGIES INC (ROP) 621.000 SHARES 104,417 322,827
ROSS STORES INC (ROST) 19.000 SHARES 2,449 2,874
RYAN SPECIALTY HOLDINGS INC (RYAN) 20.000 SHARES 1,324 1,283
SBA COMMUNICATIONS CORP (SBAC) 7.000 SHARES 2,232 1,427
THERMO FISHER SCIENTIFIC INC (TMO) 300.000 SHARES 156,981 156,069
TJX COMPANIES INC (TJX) 1,500.000 SHARES 140,303 181,215
TRANSDIGN GROUP INC (TDG) 18.000 SHARES 12,816 22,811
TRANSUNION (TRU) 1,875.000 SHARES 70,796 173,831
TYLER TECHNOLOGIES INC (TYL) 15.000 SHARES 6,997 8,650
UNION PAC CORP COM (UNP) 725.000 SHARES 175,444 165,329
UNITEDHEALTH GROUP INC (UNH) 375.000 SHARES 181,461 189,698
VAIL RESORTS INC (MTN) 19.000 SHARES 5,627 3,562
VEEVA SYSTEMS INC -CLASS A (VEEV) 38.000 SHARES 7,190 7,990
VERALTO CORP-W/I (VLTO) 11.000 SHARES 1,132 1,120
VERISIGN INC (VRSN) 7.000 SHARES 1,485 1,449
VERISK ANALYTICS INC (VRSK) 11.000 SHARES 2,173 3,030
VULCAN MATERIALS CO (VMC) 54.000 SHARES 12,751 16,205
WASTE CONNECTIONS INC (WCN) 24.000 SHARES 4,336 4,118
WATERS CORP (WAT) 9.000 SHARES 2,493 3,339
WIX LTD (WIX) 11.000 SHARES 2,093 2,360
WR BERKLEY CORP (WRB) 43.000 SHARES 2,352 2,516

TY 2024 InvestmentsGovtObligationsSch
Name:
FELBURN FOUNDATION
EIN:
51-0234331
US Government Securities - End of Year Book Value:

503,410
US Government Securities - End of Year Fair Market Value:

505,508
State & Local Government Securities - End of Year Book Value:


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


0


TY 2024 InvestmentsOtherSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ABBEY CAPITAL FUTURES STRATEGY FUND CLASS I (ABYIX) 10,875.411 SHARES AT COST 124,860 119,738
ALLSPRING CORE BOND FUND (WTRIX) 75,655.812 SHARES AT COST 801,195 823,891
ALLSPRING SPECIAL SMALL CAP VALUE FUND CL R6 (ESPRX) 9,565.004 SHARES AT COST 265,105 384,895
AQR DIVERSIFIED ARBITRAGE FUND CL R6 (QDARX) 14,711.095 SHARES AT COST 139,874 178,151
BAIRD MIDCAP FUND INSTITUTIONAL CL (BMDIX) 23,664.768 SHARES AT COST 462,056 557,305
BLACKROCK EVENT DRIVEN EQUITY FUND CL INSTL (BILPX) 18,049.585 SHARES AT COST 172,244 180,495
BLACKROCK GLOBAL EQUITY MRKT NTRAL FD CL CLASS K (BGCKX) 4,352.881 SHARES AT COST 48,707 58,981
BLACKROCK GLOBAL LONG SHRT CRED FD CL CLASS K (BDMKX) 6,639.261 SHARES AT COST 67,807 59,686
BLACKROCK TOTAL RETURN -I (MAHQX) 88,206.145 SHARES AT COST 890,000 858,246
CATALYST MILLBURN HEDGE STRATEGY FUND CL I (MBXIX) 1,630.292 SHARES AT COST 62,000 63,288
CONESTOGA SMALL CAP FUND INSTL CLASS (CCALX) 5,533.576 SHARES AT COST 257,754 439,919
CREDIT SUISSE COMMODITY RETURN STRTGY FD CL I (CRSOX) 5,544.346 SHARES AT COST 125,208 115,398
DODGE & COX INCOME FUND (DODIX) 68,878.735 SHARES AT COST 930,801 852,719
DOUBLELINE TOTAL RETURN BOND (DDTRX) 54,913.295 AT COST 475,000 476,098
EATON VANCE GLB MACRO ABSLT RTRN ADV FD CL R6 (EGRSX) 6,312.348 SHARES AT COST 62,807 65,207
FIDELITY EMG MKTS INDEX-FAI (FPADX) 66,084.179 SHARES AT COST 637,712 691,241
GOTHAM ABSOLUTE RETURN FUND INSTL CLASS (GARIX) 5,180.423 SHARES AT COST 74,827 102,624
HARDING LOEVNER INTL EQUITY PT FD INSTL CL (HLMIX) 14,178.806 SHARES AT COST 272,874 347,523
HARTFORD SCHRODERS EMERG MKTS EQUITY FD CL F (HHHFX) 38,705.014 SHARES AT COST 611,214 642,503
ISHARES 3-7 YEAR TREASURY BOND ETF (IEI) 2,785.000 SHARES AT COST 343,110 321,807
ISHARES CORE S&P ETF (IVV) 2,293.000 SHARES AT COST 503,093 1,349,843
ISHARES CORE U.S. AGGREGATE BOND ETF (AGG) 14,253.000 SHARES AT COST 1,521,152 1,381,116
ISHARES MBS ETF (MBB) 1,669.000 SHARES AT COST 171,934 153,014
ISHARES MSCI INTL QUALITY (IQLT) 10.112 SHARES AT COST 394,065 375,357
ISHARES MSCI USA MIN VOL FACTOR (USMV) 3,203.000 SHARES AT COST 232,041 284,394
ISHARES RUSSELL MIDCAP (IWR) 6,954.000 SHARES AT COST 328,011 614,734
ISHARES S&P 500 INDEX FUND CLASS K (WFSPX) 5,880.311 SHARES AT COST 2,287,847 4,046,183
ISHARES TR RUSSELL 2000 (IWM) 1,906.000 SHARES AT COST 266,884 421,150
ISHARES U S TREAUSRY BOND (GOVT) 26,466.000 SHARES AT COST 599,129 608,189
JOHN HANCOCK SEAPORT LONG/SHORT FUND CL R6 (JSFRX) 10,089.635 SHARES AT COST 130,808 118,553
LONGLEAF PARTNERS FDS TR (LLINX) 12,658.228 SHARES AT COST 200,000 190,760
LOOMIS SAYLES GROWTH FUND CL Y (LSGRX) 21,775.994 SHARES AT COST 285,499 643,698
MFS EMERGING MKTS DEBT FD-R6 (MEDHX) 15,177.066 QTY AT COST 180,000 181,366
MFS MID CAP VALUE FUND CL R6 (MVCKX) 16,324.761 SHARES AT COST 355,256 518,964
MFS VALUE FD CL R6 (MEIKX) 13,483.296 SHARES AT COST 395,056 543,485
NEUBERGER BERMAN HIGH INCOME BOND FUND CL INST (NHILX) 16,209.808 SHARES AT COST 135,290 123,519
NEUBERGER BERMAN LONG SHORT FUND INSTL CL (NLSIX) 9,988.641 SHARES AT COST 141,990 187,287
OAKMARK INTL FD CL R6 (OAZIX) 14,681.055 SHARES AT COST 286,390 366,146
OAKMARK INTL SM CAP-R6 (OAZEX)7,915.567 SHARES AT COST 150,000 140,660
PETERSHILL II OFFSHORE LP AT COST 238,459 300,156
PIMCO DYNAMIC BOND FUND INSTL CLASS (PFIUX) 6,239.589 SHARES AT COST 66,772 62,271
TRIBUTARY SMALL COMPANY FD INST (FOSBX) 14,579.153 SHARES AT COST 412,744 446,851
VANGAURD FTSE DEVELOPED MARKETS ETF (VEA) 15,200.000 SHARES AT COST 602,500 726,864
VANGAURD FTSE EMERGING MARKETS ETF (VWO) 4,050.000 SHARES AT COST 154,398 178,362
VANGUARD SCOTTSDALE FDS VANGUARD INTERME (VCIT) 2,191.00 SHARES AT COST 182,045 175,872
WCM FOCUSED INTL GROWTH-INS (WCMIX) 17,548.365 SHARES AT COST 304,113 381,852
WISDOMTREE U.S. QUALITY DIVI (DGRW) 4,936.000 SHARES AT COST 222,836 399,470

TY 2024 LandEtcSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
LAND-KINGSTON SALTPETER CAVE - BARTOW CO, GA - 39.991 ACRES, 12/15/1983 50,998 0 50,998 50,998
LAND-ESTATOE FALLS - PICKENS CO, SC - 25.86 ACRES, 12/15/1984 100,000 0 100,000 100,000
LAND-CAVE AND SPRING PROPERTY - LYON CO, KY - 4.35 ACRES, 10/15/1986 51,790 0 51,790 51,790
LAND-TRULL FALLS PROPERTY - CHEROKEE CO, NC - 6.96 ACRES, 11/15/1988 22,334 0 22,334 22,334
LAND-SAUNDERS PROPERTY, MITCHELL CO, NC - 35.58 ACRES, 03/15/1989 85,000 0 85,000 85,000
LAND-LYNCH PROPERTY - LEVY CO, FL - 10 PARCELS, 05/28/2003 372,600 0 372,600 372,600
LAND-MEYER'S TRACT - CITRUS CO, FL - 135.42 ACRES, 04/24/2001 765,919 0 765,919 765,919
LAND-SAUNDERS PROPERTY ADJACENT, MITCHELL CO, NC - 13 ACRES, 02/13/2014 50,581 0 50,581 50,581
LAND - YANKEETOWN, FL - 95.00 ACRES, 12/12/2024 125,054 0 125,054 125,054
OFFICE FURNITURE, 03/31/2009 1,992 1,992 0  


TY 2024 OtherExpensesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 230 0   230
FILING FEES 748 0   748
INSURANCE 11,763 0   11,763
OFFICE AND OTHER EXPENSES 2,270 0   2,270
PROPERTY CUSTODIAL SERVICES 4,400 0   4,400
OTHER INVESTMENT EXPENSES 4,813 4,813   0


TY 2024 OtherIncomeSchedule2
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
THRU SCHEDULE K-1-OTHER PORTFOLIO INCOME (LOSS) 6,312 6,312 6,312


TY 2024 OtherProfessionalFeesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT AND ADVISORY 255,490 255,490   0
OFFICE MANAGER 37,500 9,375   28,125


TY 2024 TaxesSchedule
Name:
FELBURN FOUNDATION
EIN:
51-0234331
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 26,000 0   0
FEDERAL UNRELATED BUSINESS INCOME TAX 600 0   0
FOREIGN TAXES WITHHELD 777 777   0
PROPERTY TAXES ON REAL ESTATE - CHARITABLE-USE ASSETS 1,517 0   1,517