2016 Department of the Trea^Un Do Not Enter Social Security Numbers on This Form As It May Be Made Public
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l efile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN:93491314011487 OMB No 1545-0052 Form 990-PF Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation 2016 Department of the Trea^un Do not enter social security numbers on this form as it may be made public. Internal Rev enue Ser ice ► ► Information about Form 990-PF and its instructions is at www.irs.gov/form990pf. For calendar year 2016, or tax year beginning 01-01-2016 , and ending 12-31-2016 Name of foundation The David and Lucile Packard Foundation 94-2278431 Number and street (or P 0 box number if mail is not delivered to street address) Room/suite B Telephone number (see instructions) 343 Second Street (650) 948-7658 City or town, state or province, country, and ZIP or foreign postal code Los Altos, CA 940223632 C If exemption application is pending, check here q G Check all that apply q Initial return q Initial return of a former public charity D 1. Foreign organizations, check here ► El q Final return q Amended return 2. Foreign organizations meeting the 85% test, check here and attach computation ► El El Address change El Name change E If private foundation status was terminated H Check typ e of org anization q Section 501(c)(3) exem p t p rivate foundation under section 507(b)(1)(A), check here ► q Section 4947(a)(1) nonexempt charitable trust q Other taxable private foundation I Fair market value of all assets at end J Accounting method q Cash 9 Accrual F If the foundation is in a 60-month termination of year (from Part II, col (c), under section 507(b)(1)(B), check here q ► line 16)101$ 7,102,402,524 Other (specify) (Part I, column (d) must be on cash basis ) Analysis of Revenue and Expenses (The total ( a) Revenue and (d) Disbursements (b) Net investment (c) Adjusted net for charitable of amounts n columns (b), (c), and (d) may not necessarily expenses per income purposes books basis equal the amounts n column (a) (see instructions) ) (cash s only) 1 Contributions, gifts, grants, etc , received (attach schedule) 2 Check ► W if the foundation is not required to attach Sch B . 3 Interest on savings and temporary cash investments 134 134 4 Dividends and interest from securities . 48,764,026 108,851,472 5a Gross rents . 166,338 166,338 b Net rental income or (loss) 108,977 G> 6a Net gain or (loss) from sale of assets not on line 10 305,233,316 y b Gross sales price for all assets on line 6a 7 Capital gain net income (from Part IV, line 2) . 221,107,414 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) . 1,330,855 66,294,575 12 Total . Add lines 1 through 11 . 355,494,669 396,419,933 13 Compensation of officers, directors, trustees, etc 4,439,500 2,496,612 1,942,888 14 Other employee salaries and wages 17,335,890 6,527,208 10,736,808 0 15 Pension plans, employee benefits 8,321,936 1,717,048 4,890,887 ^C 16a Legal fees (attach schedule) . G?J 896,397 133,881 756,021 R. b Accounting fees (attach schedule) . 685,013 381,970 302,443 X w c Other professional fees (attach schedule) . 10,658,117 1,317,815 9,077,747 17 Interest 18 Taxes (attach schedule) (see instructions) 9,885,212 1,699,702 0 19 Depreciation (attach schedule) and depletion . 3,772,311 24,926 20 Occupancy . 1,550,828 171,050 1,351,800 21 Travel, conferences, and meetings . 3,688,521 541,422 2,949,035 22 Printing and publications . 225 , 066 24 , 942 124 , 121 23 Other expenses (attach schedule) . 3,655,800 60,678,664 3,171,886 24 Total operating and administrative expenses. Add lines 13 through 23 . 65,114,591 75,715,240 35,303,636 25 Contributions, gifts, grants paid . 406,785,444 318,957,275 26 Total expenses and disbursements . Add lines 24 and 25 471,900,035 75,715,240 354,260,911 27 Subtract line 26 from line 12 a Excess of revenue over expenses and -116,405,366 disbursements b Net investment income (if negative, enter -0-) 320,704,693 c Adjusted net income (if negative, enter -0-) . For Paperwork Reduction Act Notice, see instructions . Cat No 11289X Form 990-PF (2016) Form 990-PF (2016) Page 2 Beginning of year End of year Balance Sheets Attached schedules and amounts in the description column ® should be for end-of-year amounts only (See instructions ( a) Book Value (b) Book Value ( c) Fair Market Value 1 Cash-non-interest - bearing . 37,253,580 67,502,050 67,502,050 2 Savings and temporary cash investments . 6,420,587 10,645,717 10,645,717 3 Accounts receivable ► 141,030,131 Less allowance for doubtful accounts ► 57,871,253 141,030,131 141,030,131 4 Pledges receivable ► Less allowance for doubtful accounts ► 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) ► Less allowance for doubtful accounts ► L, 8 Inventories for sale or use . 13 , 882 , 351 15 , 855 , 789 15 , 855 , 789 N0 9 Prepaid expenses and deferred charges . 10a Investments - U S and state government obligations ( attach schedule ) 615,880,783 04^ 533,785,098 533,785,098 b Investments - corporate stock ( attach schedule ) . 143,061,980 0 0 c Investments - corporate bonds (attach schedule ) . 11 Investments - land, buildings, and equipment basis ► 2,400,000 Less accumulated depreciation ( attach schedule ) ► 2,120,000 2,400,000 2,400,000 12 Investments - mortgage loans . 13 Investments-other ( attach schedule ) . 5,967,776,781 04J 6,144,296,101 6,144,296,101 14 Land , buildings , and equipment basis ► 97,539,757 Less accumulated depreciation ( attach schedule ) ► 28,621,824 72,164,292 68,917,933 68,917,933 15 Other assets ( describe ► ) ^J 109,395,572 117,969,705 117,969,705 16 Total assets ( to be completed by all filers - see the instructions Also, see page 1, item I) 7,025,827,179 7,102,402,524 7,102,402,524 17 Accounts payable and accrued expenses . 26,240,805 20,065,357 18 Grants payable . 132,574,006 222,128,732 o 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 ► ) 1?j 49,857,017 Gil 51,926,933 23 Total liabilities (add lines 17 through 22) . 208,671,828 294,121,022 Foundations that follow SFAS 117, check here and complete lines 24 through 26 and lines 30 and 31. 24 Unrestricted . 6,817,155,351 6,808,281,502 25 Temporarily restricted 26 Permanently restricted . LL_ q Foundations that do not follow SFAS 117 , check here ► p and complete lines 27 through 31. un 0 27 Capital stock, trust principal , or current funds 28 Paid-in or capital surplus, or land, bldg , and equipment fund 29 Retained earnings, accumulated income , endowment , or other funds Z 30 Total net assets or fund balances ( see instructions ) . 6,817,155,351 6,808,281,502 31 Total liabilities and net assets / fund balances (see instructions ) 7,025,827,179 7,102,402,524 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 30 (must agree with end- of-year figure reported on prior year's return) . 1 6,817,155,351 2 Enter amount from Part I, line 27a . 2 -116,405,366 3 107,531,517 3 Other increases not included in line 2 (itemize) ► 4 Add lines 1, 2, and 3 . I 4 6,808,281,502 5 Decreases not included in line 2 (itemize) ► 6 Total net assets or fund balances at end of year (line 4 minus line 5)-Part II, column (b), line 30 6,808 ,281,502 Form 990-PF (2016) Form 990-PF (2016) Page 3 Capital Gains and Losses for Tax on Investment Income How acquired List and describe the kind(s) of property sold (e g , real estate, Date acquired Date sold P-Purchase 2-story brick warehouse, or common stock, 200 shs MLC Co (mo , day, yr) (mo , day, yr ) D-Donation 1 a Pass through investments reported on K-1s P b Realized G/L on securities and PRI P C d e ( e) (f) (g) (h) Depreciation allowed Cost or other basis Gain or (loss) Gross sales price (or allowable) plus expense of sale (e) plus (f) minus (g) a 131,337,412 b 89,770,002 C d e Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) (j) (k) Gains (Col (h) gain minus ( i ) Adjusted basis Excess of col (i) col (k), but not less than -0-) or F M V as of 12/31/69 as of 12/31/69 over col (3), if any Losses (from col (h)) a 131,337,412 b 89,770,002 C d e If gain, also enter in Part I, line 7 2 Capital gain net income or (net capital loss) ) If (loss), enter -0- in Part I, line 7 2 221,107,414 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 .