Grease a 10-inch tube pan (angel food cake pan) and set aside
Preheat oven to 350 degrees
In an electric mixer with the paddle attachment, cream the shortening and butter together until well combined.
Add the sugar and cream for about 5-7 minutes. (mixture will double in size and be a pale yellow color) **Important do not scrimp on time on this step.
Add vanilla and almond extracts and combine.
Add eggs one at a time and incorporate each into mixture before adding the next.
Add salt and baking powder and combine.
Add the flour and milk, alternating back and forth until mixture is thick and fully combined well.
Pour into waiting pan.
Bake for 75 minutes.
Let cool completely before taking out of pan.