2949136202104 9 Return of Private Foundation 0MB No 1545-0052 Form 990-PF or Section 4947(a)(1) Trust Treated as P_rivate Foundation Department of the Treasury .... Do not enter social security numbers on this form as 1t may be made pubhc 2017 Internal Revenue Service .... Go to www.1rs.gov/Form990PF for instructions and the latest information 141'2 For calendar year 2017 or tax year beginning , and ending Name of foundation A Employer identification number The David and Lucile Packard Foundation 94-2278431 ~umber and street (or P O box number 1f mail 1s not delivered to street address) IRoom/suite B Telephone number 5343 Second Street 650-948-7658 • _City or town, state or province, country, and ZIP or foreign postal code C If exemption apphcatmn 1s pending, check here .... LJ 00 Los Altos, CA 94022-3632 L9 Check all that apply LJ Initial return LJ Initial return of a former public charity D 1. Foreign organizations, check here ~ D W D Final return [XI Amended return 2. Foreign organizations meet mg the 85% test, ......_ D a D Address change D Name change check here and attach computation .,..... ~2 !Q: Check type of organization: L.XJ Section 501(c)(3) exempt private foundation E If private foundation status was terminated DID Section 4947(a)(1) nonexempt charitable trust D Other taxable private foundation under section 507(b)( 1)(A), check here ~D ~ !i Fair market value of all assets at end of year J Accounting method: LJ Cash L.XJ Accrual F If the foundation 1s tn a 60-month termination f5 ~ (from Part II, col. (c), line 16) D Other (specify) ----------- under section 507(b)(1)(B), check here ~D ~ ~$ 7, 8 5 0 , 2 3 O , 4 5 5. (Part I, column (d) must be on cash basis.) TPart 11 Analysis of Revenue and Expenses (a) Revenue and (b) Net investment (c) Ad1usted net (d) Disbursements .___ __. [The Iota! of amounts in columns {b), (c), and (d) may not for charitable purposes necessarily equal the amounts m column (a)) expenses per books income income (cash basis only) 1 Contributions, gifts, grants, etc., received N/A 2 l..hOo" ~ [XI 1llhc loundohon ,i not required lo att.lch Leh u 3 :;~e~tv~~t:;~~~s and temporary 72. 72. Statement 1 I 4 D1v1dends and interest from securities 83,546,298. 6,884,524. Statement 2 I 5a Gross rents 171,060. 171,060. Statement 3 I b Net rental income or (toss) 97,262. Statement 4 I Cl) 6a Net gain or (loss) from sale of assets not on hne 10 450,710,620. ::I Gross sales price for all C b assets on line Sa ~ Cl) 7 Capital gain net income (from Part IV, hne 2) 372,196,301. a: 8 Net short-term capital gain 9 Income mod1ftcat1ons I b Less Cost of goods sold I c Gross profit or (loss) ~--------tc---------+---------+---------+-------- 11 Other income l,944,902.218,653,572. Statement 5 J 12 Total. Add Imes 1 through 11 536,372,952.597,905,529. 13 Compensation of officers, directors, trustees. etc 4,785,633. 2,761,708. 2,001,142. 14 Other employee salaries and wages 22,917,808. 11,272,629. 11,480,003. 15 Pension plans, employee benefits 6,674,228. 1,435,314. 5,035,402. ~ 16a L :;-' .. c:cE\VED Stm:: 6 788,521. 111,792. 635,017. Cl) b A counttn~des ~ -.ff'I 7 618,109. 310,155. 289,867. $ c O ~er orofess1onal fees S $ 8 10,273,622. 1,299,589. 8,694,128. ~ 17 In; DEC 2 3 20\9 ch g 18 Ta es) ---- ~H~t 9 29,411,833. 1,752,019. 0. 3,263~708. 24,926. ~ ~ 19 De recano~~~~. UT 1 ~ 'i§ 20 0cc !µ11p~a~nc~ytU~~::;::,:..:.!----- 1,756,608. 197,260. 1,574,801. r- 'C [; c> < 21 Travel, conferences, and meetings 3,763,634. 495,795. 3,278,021. ~ ::; ~ 22 Printing and publ1cat1ons 195,618. 24,475. 187,332. t::> ~ ~ 23 Other expenses S tm t 1 0 4,304,129. 60,865,125. 3,779,318. ~ iii 24 Total operating and administrative · ....n i; ~ expenses. Add Imes 13 through 23 88,753,451. 80,550,787. 36,955,031. tt'£o1).o~ ~· 25 Contributions, gifts, grants paid ?.91,816,537. 335,249,144. Cf, g, 26 Total expenses and disbursements. W ~ ~ Add Imes 24 and 25 380,569,988. 80,550,787. 372,204,175. za: ~ 27 Subtract ltne 26 from hne 12: ZL<;, <(- a Excess of revenue over expenses and disbursements 155,802,964. 0 b Net investmer1l ili~uffu: 111 neydttve. e11te1 -o-1 _ 517,351,7~2. (rit) C Adjusted net income (If negative, enter -0-) N/A 123501 01-03-18 LHA For Paperwork Reduction Act Notice, see instructions. Form 990-PF (2017) 1 CJ z..:~<g Form 990-PF (2017) The David and Lucile Packard Foundation 94-2278431 Page 2 Beginning of year End of year Part II I Balance Sheets Attachedschedulesandamountsmthedescnpllon I• . column should be /or end-{)/ year amounts only (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash - non-interest-bearing 6 7 , 5 0 2 , 0 5 0 • 5 5 , 9 2 8 , 181 • 5 5 , 9 2 8 , 181 . 2 Savings and temporary cash investments 1 0 , 6 4 5 , 71 7 • 5 2 , 4 7 7 , 7 6 2 • 5 2 , 4 7 7 , 7 6 2 . 3 Accounts receivable !Ji,- 2 0 4 , 2 8 1 , 1 7 4 • _J less: allowance for dou-b-tfu-1-ac-co_u_n-ts-lJ!,-----'----''----- 141,030, 131. -2 0-4 ~-8-1, 17 4-: -2 04 ,-2-8 i ;-1?°4. ----------1--.....:...---'----l-----=---....:......---1---=-__;:....__.....:...___ 4 Pledges receivable llo- ---------------, ---- less: allowance for doubtful accounts IJ!,- ----------------- ----------1--------1---------+-------- 5 Grants receivable 6 Receivables due from officers, directors, trustees, and other d1squalif1ed persons 7 Other notes and loans receivable IJ!,- ---------i --· ----- less: allowance for doubtful accounts IJ!,- en 8 Inventories for sale or use ----------1--------+----------+--------- di ~ 9 Prepaid expenses and deferred charges 15,855,789. 10,694,675. 10,694,675. cs: 10a Investments - U.S. and state government obl1gat1ons S tmt 12 533,785,098. 513,292,150. 513,292,150. b Investments - corporate stock c Investments - corporate bonds 11 Investments -land, bu,fdmgs, and equipment basis Less accumulated deprec1auon 12 Investments - mortgage loans 13 Investments-other Stmt 13 6144296101. 6838943454. 6838943454. 14 Land, buildings, and equipment basis ...,_ 9 7 , 0 81 , 5 91. \ _J Lessaccumulaleddeprec,auon Stmt l41Ji,- 30,847,280. 68,917,933. 66,234,311. 66,234,311. -,---:--'-----,---::..:--+""7"":;-;::;:-'-,,....,.=-'-:::-=-=,--+-::--=-::::--C-.=-::,-::,--'-=,...,..-:~1----,,--=-=-'--=-==-=....:.....,,:--:-=-- 15 Otherassets(describe!Ji,- Statement 15) l-----'---....:......---1------':...._-.....:....117,969,705. 105,758,748.__ -4- __105,758,748...:...._ _ ___:_ _ __;__ 16 Total assets (to be completed by all filers - see the instruct,ons Also, see page 1, item I) 7102402524. 7850230455. 7850230455. 17 Accounts payable and accrued expenses 2 0 I O6 5 I 3 5 7 o 2 6 I 9 7 9 ,,5 61 o 18 Grants payable 222,128,732. 179,795,886. en 19 Deferred revenue ~ 20 Loans from officers. directors, trustees. and other d1squahf1ed persons :E C'II 21 Mortgages and other notes payable :J 22 Other liab1l1t1es (describe !Ji,- ____S_t_a_t_e_m_e_n_t_1_6) 1---5;...l....:., _9_2_6;....:.., ;..9..;.3..;;3_.4--......;;6..;4;..,:..2=2.;;;l;..:,;...1=1..;.8...;.j. 23 Total liabilities (add lines 17 through 22) 294,121,022. 270,996,565. Foundations that follow SFAS 117, check here and complete lines 24 through 26, and lines 30 and 31. Cl) ~ 24 Unrestricted 6808281502. 7579233890. C C'II 25 Temporarily restricted iii m 26 Permanently restricted "C C :::, Foundations that do not follow SFAS 117, check here ~ and complete lines 27 through 31. ~ 27 Capital stock, trust principal, or current funds i 28 Paid-in or capital surplus, or land, bldg , and equipment fund Cl) cs: 29 Retained earnings, accumulated income, endowment, or other funds ~ 30 Total net assets or fund balances 6808281502. 7579233890. 31 Total liabilities and net assets/fund balances 7102402524. 7850230455. I Part Ill I 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 6808281502. 2 Enter amount from Part I, line 27a 2 155,802,964. 3 Other increases not included in line 2 (1tem1ze) .... See Statement 11 3 615,149,424. 4 Add lines 1, 2, and 3 4 7579233890. 5 Decreases not included in line 2 (1tem1ze) !Ji,- 5 0. 6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (bl, line 30 6 7579233890. Form 990-PF (2017) 723511 01-03-18 2 Form 990-PF (2017) The David and Lucile Packard Foundation 94-2278431 Page 3 I Part IV I Capital Gains and Losses for Tax on Investment Income (a) List and describe the kmd(s) of property sold (for example, real estate, (DP How acquired Date acquired (d) Date sold - Purchase (c) 2-story brick warehouse, or common stock, 200 shs MLC Co ) D - Donation (mo., day, yr.) (mo., day, yr.) 1a Pass through investments reported on K-ls b Realized G/L on securities and PR! C d e (e) Gross sales price (I) Deprec1at1on allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale ((e) plus (f) minus (g)) a 277,905,751.