Florida Files

District Court of Appeal, District 4

Caroline Shepherd

2025 Form 6 · annual filing (Commission on Ethics) · received 2026-03-27 · 4 pages (text)

Net worth$9,236,605
Income listed$223,318
Real estate$0
Debts listed$3,396,008
Worth a look1

Where listed income comes from

  • Government & public payroll 100% $223,318 · State of Florida (Judicial Salary)

Worth a look 1

Worth a look Unusual reporting

2 entries are withheld entirely ($9,600,000, 104% of net worth)

In the public copy, the whole description of 2 asset entries is redacted, so the public can't tell what they are. Partial redactions (an account number, or an exempt official's home address next to a named item) are common; this is the whole entry. The filer holds a position (District Court of Appeal) listed in s. 119.071, F.S., whose home address or other information the Commission keeps confidential on request, so these redactions may be lawful — though several whole entries go beyond a home address.

What to check
  • Compare with the filer's other filings, which may describe the same items.
  • The Commission on Ethics holds the unredacted filing.

Rule: Entries withheld entirely
“Describe, and state the value of, each asset you had on the reporting date”2025 Form 6 instructions, Assets ✓ quoted from the saved instructions · how this rule works

Context 5

Context Unusual reporting

Lists Personal Vehicles ~ BMW (2), Personal Vehicle ~ Ford F150, Personal Vehicle ~ Toyota Tundra separately from the $250,000 household-goods total

Personal vehicles, jewelry, art and furnishings can be reported in the household-goods lump sum or itemized. Net worth doesn't appear to count them twice.

What to check
  • No action needed unless the lump sum also includes these items.

Rule: Household items listed twice
“Describe, and state the value of, each asset you had on the reporting date you selected for your net worth, if the asset was worth more than $1,000 and if you have not already included that asset in the aggregate value of your household goods and personal effects.”2025 Form 6 instructions, Assets ✓ quoted from the saved instructions · how this rule works

Context Unusual reporting

Lists 2 investment accounts ($1,147,450) instead of what's in them

The instructions say the investments held in a brokerage account or IRA are the assets to report — not the account itself. As listed, the public can't see what the filer is invested in.

What to check
  • Which companies or funds are in these accounts? Holdings matter for conflicts of interest.

Rule: Accounts listed instead of investments
“Note that the product contained in a brokerage account, IRA, or the Florida College Investment Plan, is your asset”2025 Form 6 instructions, Assets ✓ quoted from the saved instructions · how this rule works

Context Unusual reporting

Net worth $9,236,605; listed items add up to $12,198,163

Reported net worth: $9,236,605. Household goods + listed assets − listed liabilities = $12,198,163. A difference is normal: net worth also counts assets and debts that aren't listed individually (items under $1,000, credit cards, taxes), and the instructions say subtracting listed liabilities from listed assets won't give an accurate figure in most cases.

What to check
  • No action needed unless other items look off.

Rule: Net worth vs. listed items
“Simply subtracting your liabilities from your assets will not result in an accurate net worth figure in most cases.”2025 Form 6 instructions, Net Worth ✓ quoted from the saved instructions · how this rule works

Context Income & business ties

100% of listed income ($223,318) comes from State of Florida (Judicial Salary)

Listed income totals $223,318 from 1 source. The largest is classed as government & public payroll.

What to check
  • Who is this source, and does it have business before the office sought?
  • If the filer owns it, check the business section and secondary income.

Rule: Where the money comes from
“List the name of each source of income that provided you with more than $1,000 of income during”2025 Form 6 instructions, Income ✓ quoted from the saved instructions · how this rule works

Context Wealth & holdings

Reports a net worth of $9,236,605 — a multimillionaire on paper

Net worth is the filer's own figure. Being wealthy isn't a problem; it's context for comparing candidates and for reading the rest of the form.

What to check
  • Compare with the other candidates in the race.
  • Check that the large assets below are described and valued clearly.

Rule: Net worth tier
“Report your net worth as of”2025 Form 6 instructions, Net Worth ✓ quoted from the saved instructions · how this rule works

Where to look next

Some of what this filing reports stands out. These links open official public records, built from what the filer disclosed. They're searches you run yourself — results may include other people or companies with similar names.

Their filings

Their campaign

Other filings by Caroline Shepherd

FilingReceivedNet worthItems
2025 Form 6 — qualifying copy2026-04-08$9,236,6051
2024 Form 6 — annual (Commission on Ethics)2025-06-18$10,589,813

Qualifying copies and annual Commission filings are matched to each other by name.

Net worth

Net worth
As of
Household goods (lump sum)

Assets over $1,000 $15,344,171 listed

DescriptionValue

Liabilities over $1,000 $3,396,008 listed

CreditorAddressAmount

Joint and several liabilities not reported above

Reported as “N/A”.

Income $223,318 listed

Elected to attach federal tax return instead:

Primary sources

SourceAddressAmount

Secondary sources (major customers of businesses owned)

Reported as “N/A”.

Interests in specified businesses

Reported as “N/A”.

Signature

Signed by
Date
Filed with COE

Source

Document
Open PDF · original source
Retrieved
2026-10-07T19:21:49+00:00
SHA-256
17397c1798ee9c21ebe395ed5f90013f24107a800cd14f6b1ae8576eedb28256
Pages
p1 form6 · p2 form6 · p3 form6 · p4 form6
Extraction
parser v0.5.2; 0 value(s) below 80% confidence

Other documents in the qualifying packet

  • 04/08/26 — Candidate Appt of Campaign Treasurer (not downloaded)
  • 04/08/26 — Candidate Oath - Judicial Office (not downloaded)
  • 04/08/26 — Financial Disclosure PDF (5p)
  • 04/08/26 — Statement of Candidate for Judicial Office (not downloaded)
  • 04/08/26 — Affidavit of Intention (not downloaded)
  • 04/08/26 — Affidavit of Compliance (not downloaded)
  • 04/09/26 — Acknowledgment Letter (not downloaded)
  • 04/15/26 — Candidate Oath - Judicial Office (not downloaded)