﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2016v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-05-10T08:41:01-07:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>PBG FINANCIAL SERVICES LTD</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>666 Dundee Road Suite 401</AddressLine1Txt>
        <CityNm>Northbrook</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>600622733</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>396105207</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE SCHIELD FAMILY FOUNDATION INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>SCHI</BusinessNameControlTxt>
      <PhoneNum>8472512134</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
        <CityNm>WILMETTE</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60091</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL A SCHIELD</PersonNm>
      <PersonTitleTxt>PRES/TREAS</PersonTitleTxt>
      <SignatureDt>2017-05-10</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>CHRISTOPHER PORTERA</PreparerPersonNm>
      <PTIN>P00294457</PTIN>
      <PhoneNum>8472911400</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
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      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>3082283</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>48456</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>48456</DividendsNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">193</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>193</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>48649</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>48649</TotalNetInvstIncmAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="LegalFeesSchedule">113</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>113</LegalFeesNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">2200</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>2200</AccountingFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">14782</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">115</OtherExpensesRevAndExpnssAmt>
        <TotOprExpensesRevAndExpnssAmt>17210</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>2313</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>180250</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>180250</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>197460</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>2313</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>180250</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-148811</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>46336</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>495309</CashBOYAmt>
        <CashEOYAmt>34464</CashEOYAmt>
        <CashEOYFMVAmt>34464</CashEOYFMVAmt>
        <CorporateStockBOYAmt>1601963</CorporateStockBOYAmt>
        <CorporateStockEOYAmt>1913997</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>3047819</CorporateStockEOYFMVAmt>
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        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
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        <CapitalStockEOYAmt>6431812</CapitalStockEOYAmt>
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        <RetainedEarningEOYAmt>-4483351</RetainedEarningEOYAmt>
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        <TotNetAstOrFundBalancesEOYAmt>1948461</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2097272</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>1948461</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2097272</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-148811</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>1948461</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>1948461</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>172081</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>2658379</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.06473</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>131931</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>1477650</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.08928</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>76469</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>1272341</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.06010</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>67327</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>1126219</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.05978</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>53275</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>1055642</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.05047</DistributionYr5Rt>
        <TotalDistributionRt>0.324365</TotalDistributionRt>
        <AverageDistributionRt>0.064873</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>2947135</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>191189</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>463</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>191652</AdjNonchrtblNetInvstIncmPctAmt>
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      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
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        <SubtotalAmt>927</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>927</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>1000</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>73</OverpaymentAmt>
        <AppliedToESTaxAmt>73</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>IL</OrgReportOrRegisterStateCd>
        <OrgReportOrRegisterStateCd>WI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>MICHAEL A SCHIELD</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>8472512134</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
          <CityNm>WILMETTE</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>600910221</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
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        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL A SCHIELD</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
            <CityNm>WILMETTE</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>600910221</ZIPCd>
          </USAddress>
          <TitleTxt>PRES/TREAS</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JILL S SCHIELD</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
            <CityNm>WILMETTE</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>600910221</ZIPCd>
          </USAddress>
          <TitleTxt>VP, SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>AUDREY SCHIELD</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
            <CityNm>WILMETTE</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>600910221</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>NINA SCHIELD</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 221</AddressLine1Txt>
            <CityNm>WILMETTE</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>600910221</ZIPCd>
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          <TitleTxt>Director</TitleTxt>
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          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
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        <AverageMonthlyCashBalancesAmt>53573</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2992015</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2992015</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>44880</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2947135</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>147357</MinimumInvestmentReturnAmt>
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      <DistributableAmountGrp>
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        <TotalTaxAmt>927</TotalTaxAmt>
        <DistributableBeforeAdjAmt>146430</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>146430</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>146430</DistributableAsAdjustedAmt>
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        <QualifyingDistributionsAmt>180250</QualifyingDistributionsAmt>
        <AdjustedQualifyingDistriAmt>180250</AdjustedQualifyingDistriAmt>
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        <ExcessDistributionCyovYr5Amt>725</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>15564</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>13276</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>68877</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>63284</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>161726</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>180250</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>146430</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>33820</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>195546</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>725</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>194821</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>15564</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>13276</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>68877</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>63284</ExcessFromYear1Amt>
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          <RecipientBusinessName>
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          </RecipientBusinessName>
          <RecipientUSAddress>
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            <CityNm>VARIOUS</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60091</ZIPCd>
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          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>CHARITABLE</GrantOrContributionPurposeTxt>
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        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
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        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
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      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
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        <NetInvestmentIncomeAmt>2200</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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        <CategoryTxt>LEGAL FEES</CategoryTxt>
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        <NetInvestmentIncomeAmt>113</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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    </LegalFeesSchedule>
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      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>60</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>STATE FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>55</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncomeDetail>
        <Desc>OTHER INCOME</Desc>
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        <NetInvestmentIncomeAmt>193</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>14782</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>