TY 2013 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
bullet

Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2013

Open to Public Inspection

For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013

Name of foundation
THE JOE R AND JOELLA F UTLEY FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 8367 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
SPARTANBURG, SC293058367

A Employer identification number

57-0974104

B Telephone number (see instructions)

(864) 560-5271

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85% test,
check here and attach computation ........... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ......... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$1,715,626J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ......... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments	58		58	58
4	Dividends and interest from securities......	26,791		26,414	26,791
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		139,120
b	Gross sales price for all assets on line 6a 739,943
7	Capital gain net income (from Part IV, line 2)...			139,120
8	Net short-term capital gain.........				6,017
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).......		722	0	0
12	Total. Add lines 1 through 11........	166,691		165,592	32,866
13	Compensation of officers, directors, trustees, etc.	50,000		45,000	45,000	2,500
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		23,140	23,140	23,140	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)		39	39	39	0
19	Depreciation (attach schedule) and depletion...		453	0	453
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		119,581	49	49	119,532
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	193,213		68,228	68,681	122,032
25	Contributions, gifts, grants paid........	58,333				58,333
26	Total expenses and disbursements. Add lines 24 and 25	251,546		68,228	68,681	180,365
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-84,855
b	Net investment income (if negative, enter -0-)			97,364
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2013)

Form 990-PF (2013)

Page 2

Part II		Balance Sheets	Attached schedules and amounts in the description column should be for end-of-year amounts only. (See instructions.)	Beginning of year	End of year
Part II		Balance Sheets		(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........		28,977	51,880	51,880
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........
	c	Investments—corporate bonds (attach schedule)........
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........		1,213,110	1,105,805	1,510,958
	14	Land, buildings, and equipment: basis 86,648
		Less: accumulated depreciation (attach schedule) 85,319		1,782	1,329	86,648
	15	Other assets (describe )		66,140	66,140	66,140
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)		1,310,009	1,225,154	1,715,626
		17	Accounts payable and accrued expenses..........
18		Grants payable...................
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 )
23		Total liabilities (add lines 17 through 22)..........		0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........		0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund		0	0
	29	Retained earnings, accumulated income, endowment, or other funds		1,310,009	1,225,154
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................		1,310,009	1,225,154
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................		1,310,009	1,225,154

Part III	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	1,310,009
2	Enter amount from Part I, line 27a.....................	2	-84,855
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	1,225,154
5	Decreases not included in line 2 (itemize)	5	0
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	1,225,154

Form 990-PF (2013)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	25 SHS DELUXE CORP	P	2008-11-10	2013-01-16
b	890 SHS KBW INC	P	2011-03-04	2013-02-14
c	25 SHS MIDDLEBY CORP	P	2008-01-22	2013-01-16
d	525 SHS OM GROUP INC	P	2011-05-19	2013-01-23
e	15 SHS PORTFOLIO RECOVERY	P	2007-05-31	2013-01-16
	335 SHS ROBBINS & MYERS	P	2010-04-30	2013-02-20
	.727 SHS STIFEL FINL CORP	P	2011-03-04	2013-03-04
	430 SHS UNILEVER	P	2008-07-02	2013-01-02
	230 SHS EBAY INC	P	2009-12-31	2013-01-17
	550 SHS DELL INC	P	2012-12-31	2013-06-13
	4 SHS GOOGLE	P	2012-12-31	2013-10-18
	275 SHS NEWMONT MINING	P	2013-03-08	2013-11-07
	210 SHS C R BARD INC	P	2011-12-15	2013-09-20
	195 SHS CISCO SYSTEMS	P	2011-02-09	2013-06-20
	1,160 SHS DELL INC	P	2011-03-28	2013-06-13
	27 SHS GOOGLE INC	P	2011-04-18	2013-10-18
	70 SHS JOHNSON & JOHNSON	P	2010-12-14	2013-09-12
	345 SHS MICROSOFT CORP	P	2006-08-11	2013-07-30
	821 SHS CHARLES SCHWAB	P	2011-09-13	2013-07-30
	541 SHS ACCURAY INC	P	2013-03-08	2013-06-13
	66 SHS ACI WORLDWIDE	P	2013-03-08	2013-06-13
	49 SHS ALLEGIANT TRAVEL	P	2013-03-08	2013-06-13
	645 SHS ALLSCRIPTS HEALTHCARE	P	2012-05-03	2013-03-08
	139 SHS ALTRA INDUSTRIAL	P	2013-03-08	2013-06-13
	661 SHS AMKOR TECHNOLOGY INC	P	2013-03-08	2013-06-13
	107 SHS ASPEN TECHNOLOGY	P	2013-03-07	2013-06-13
	19 SHS BOISE INC	P	2013-03-26	2013-10-08
	44 SHS CACI INTL INC	P	2013-03-08	2013-06-13
	126 SHS CARDTRONICS	P	2013-03-08	2013-06-13
	258 SHS CENTURY ALUMINUM	P	2013-03-08	2013-06-13
	337 SHS CONMED CORP	P	2013-03-26	2013-06-13
	130 SHS DFC GLOBAL	P	2013-03-08	2013-06-13
	47 SHS DINEEQUITY INC	P	2013-03-08	2013-06-13
	503 SHS EARTHLINK INC	P	2013-03-08	2013-06-13
	1,745 SHS ENTROPIC COMM	P	2012-05-29	2013-03-26
	76 SHS FIRST CASH FINANCIAL	P	2013-03-08	2013-06-13
	67 SHS GULFMARK OFFSHORE	P	2013-03-08	2013-06-13
	99 SHS HAWAIIAN ELEC	P	2013-03-08	2013-06-13
	143 SHS HEXCEL CORP	P	2013-03-08	2013-06-13
	122 SHS INTL RECTIFIER CORP	P	2013-03-08	2013-06-13
	79 SHS MDC HOLDINGS	P	2013-03-08	2013-06-13
	133 SHS MYR GROUP	P	2013-03-21	2013-06-13
	504 SHS NAVIGANT CONSULTING	P	2012-04-26	2013-03-26
	847.02 SHS OFFICE DEPOT	P	2013-03-26	2013-11-06
	337 SHS OFFICEMAX	P	2013-03-08	2013-06-13
	245 SHS PEGASYSTEMS INC	P	2013-03-26	2013-07-12
	215 SHS ROVI CORP	P	2013-03-08	2013-06-13
	26 SHS SUNEDISON INC	P	2013-03-26	2013-10-01
	87 SHS TEAM HEALTH HOLDINGS	P	2013-03-08	2013-06-13
	50 SHS TIDEWATER INC	P	2013-03-08	2013-06-13
	300 SHS VALASSIS CMMN	P	2013-03-26	2013-06-13
	136 SHS VCA ANECH INC	P	2013-03-08	2013-06-13
	109 SHS WELLCARE HEALTH	P	2013-08-15	2013-10-14
	851 SHS NXSTAGE MEDICAL	P	2013-02-11	2013-06-13
	258 SHS ALLSCRIPTS HEALTHCARE	P	2012-05-03	2013-06-13
	649 SHS ENTROPIC COMM	P	2012-05-29	2013-06-13
	187 SHS NAVIGANT CONSULTING	P	2012-04-26	2013-06-13
	1,526 SHS AFFYMETRIX INC	P	2009-02-25	2013-06-13
	188 SHS ANIXTER INTL	P	2011-03-07	2013-06-13
	173 SHS ATWOOD OCEANICS	P	2006-08-15	2013-06-13
	2,300 SHS BOISE INC	P	2011-07-18	2013-10-08
	160 SHS BRISTOW GROUP	P	2006-08-15	2013-06-13
	134 SHS CHART INDUSTRIES	P	2009-02-25	2013-06-13
	209 SHS CHILDRENS PL	P	2010-10-28	2013-06-13
	432 SHS DELUXE CORP	P	2010-01-04	2013-06-13
	112 SHS DRIL-QUIP INC	P	2007-10-29	2013-06-13
	298 SHS ENPRO INDUSTRIES	P	2010-10-11	2013-06-13
	252 SHS FTI CONSULTING	P	2011-05-11	2013-06-13
	1,400 SHS HEALTHWAYS INC	P	2010-11-05	2013-08-02
	280 SHS HORNBECK	P	2012-01-13	2013-06-13
	309 SHS INTREPID POTASH	P	2009-01-02	2013-06-13
	.3332 SHS KCG HOLDINGS	P	2010-02-12	2013-07-05
	642 SHS KNIGHT CAPITAL GROUP	P	2010-02-11	2013-06-13
	725 SHS LENDER PROCESSING	P	2011-06-28	2013-08-28
	277 SHS LINCOLN EDUCATIONAL	P	2010-03-23	2013-06-13
	235 SHS LUFKIN IND	P	2010-09-30	2013-07-01
	1,650 SHS MEMC ELECTR	P	2011-12-08	2013-03-08
	150 SHS MIDDLEBY CORP	P	2010-04-13	2013-03-15
	1,700 SHS NORANDA ALUMINIUM	P	2011-08-25	2013-03-08
	287 SHS NORTHWESTERN CORP	P	2010-04-26	2013-06-13
	153 SHS OSI SYS INC	P	2011-05-16	2013-06-13
	120 SHS PORTFOLIO RECOVERY	P	2007-05-31	2013-06-13
	13,500 SHS RITE AID CORP	P	2011-08-11	2013-06-13
	144 SHS STIFEL FINANCIAL	P	2011-03-04	2013-06-13
	1,850 SHS SUNEDISON INC	P	2011-12-08	2013-10-01
	952 SHS SWS GROUP	P	2008-02-12	2013-06-13
	647 SHS SYKES ENTERPRISES	P	2010-09-07	2013-06-13
	928 SHS VISHAY INTERTECHNOLOGY	P	2008-08-27	2013-06-13
	20.6840 SHS ANNALY CAPITAL MGMT	P	2013-07-30	2013-08-15
	576.0475 SHS ANNALY CAPITAL	P	2012-07-27	2013-08-15
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	830	288	542
b	7,120	7,120	0
c	3,260	1,383	1,877
d	14,212	19,130	-4,918
e	1,557	887	670
	20,100	11,270	8,830
	25	63	-38
	16,486	11,956	4,530
	12,226	3,943	8,283
	7,367	5,577	1,790
	3,998	2,833	1,165
	7,620	11,939	-4,319
	24,953	17,901	7,052
	4,781	4,255	526
	15,538	14,737	801
	26,988	13,690	13,298
	6,263	4,403	1,860
	10,990	8,456	2,534
	16,346	9,561	6,785
	3,117	2,488	629
	2,869	3,101	-232
	4,949	4,177	772
	8,052	6,853	1,199
	3,791	3,741	50
	2,858	2,818	40
	3,202	3,381	-179
	240	161	79
	2,826	2,350	476
	3,653	3,370	283
	2,483	2,187	296
	10,818	10,708	110
	2,012	2,438	-426
	3,383	3,347	36
	3,028	2,845	183
	8,021	6,637	1,384
	4,320	4,176	144
	3,070	2,390	680
	2,411	2,700	-289
	4,964	4,021	943
	2,575	2,580	-5
	2,742	3,128	-386
	2,659	3,311	-652
	6,468	7,199	-731
	3,574	3,481	93
	3,697	4,054	-357
	8,105	6,891	1,214
	5,362	4,430	932
	217	113	104
	3,465	2,998	467
	2,843	2,327	516
	8,038	8,615	-577
	3,528	3,063	465
	7,741	7,233	508
	10,050	10,211	-161
	3,398	2,741	657
	2,917	2,469	448
	2,544	2,671	-127
	6,283	16,909	-10,626
	13,342	13,248	94
	8,950	3,589	5,361
	23,326	15,340	7,986
	9,674	6,128	3,546
	11,630	939	10,691
	10,442	9,477	965
	16,828	5,252	11,576
	9,670	6,047	3,623
	14,518	9,898	4,620
	8,804	9,486	-682
	20,654	15,517	5,137
	12,656	9,316	3,340
	5,864	6,632	-768
	4	16	-12
	2,380	10,105	-7,725
	21,060	14,962	6,098
	1,875	7,698	-5,823
	18,893	10,396	8,497
	8,611	7,147	1,464
	22,500	8,400	14,100
	7,383	16,838	-9,455
	11,363	8,590	2,773
	9,180	6,132	3,048
	15,923	7,095	8,828
	31,444	14,523	16,921
	5,141	12,427	-7,286
	15,107	8,014	7,093
	5,855	13,356	-7,501
	9,830	8,397	1,433
	12,466	7,486	4,980
	855	1,082	-227
	6,674	9,585	-2,911
	108		108

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			542
b			0
c			1,877
d			-4,918
e			670
			8,830
			-38
			4,530
			8,283
			1,790
			1,165
			-4,319
			7,052
			526
			801
			13,298
			1,860
			2,534
			6,785
			629
			-232
			772
			1,199
			50
			40
			-179
			79
			476
			283
			296
			110
			-426
			36
			183
			1,384
			144
			680
			-289
			943
			-5
			-386
			-652
			-731
			93
			-357
			1,214
			932
			104
			467
			516
			-577
			465
			508
			-161
			657
			448
			-127
			-10,626
			94
			5,361
			7,986
			3,546
			10,691
			965
			11,576
			3,623
			4,620
			-682
			5,137
			3,340
			-768
			-12
			-7,725
			6,098
			-5,823
			8,497
			1,464
			14,100
			-9,455
			2,773
			3,048
			8,828
			16,921
			-7,286
			7,093
			-7,501
			1,433
			4,980
			-227
			-2,911
			108

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	139,120
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 . . . . . . . . . . . . . . . .		3	6,017

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2012	229,593	1,371,127	0.167448
2011	220,600	1,477,444	0.149312
2010	121,495	1,480,655	0.082055
2009	139,415	1,256,097	0.110991
2008	90,507	1,430,105	0.063287

2	Total of line 1, column (d) ......................	2	0.573093
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.114619
4	Enter the net value of noncharitable-use assets for 2013 from Part X, line 5.....	4	1,436,133
5	Multiply line 4 by line 3.......................	5	164,608
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	974
7	Add lines 5 and 6.........................	7	165,582
8	Enter qualifying distributions from Part XII, line 4..............	8	180,365
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2013)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	974
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	974
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	974
6	Credits/Payments:

a	2013 estimated tax payments and 2012 overpayment credited to 2013	6a
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	1,000
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	1,000
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	22
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4
11	Enter the amount of line 10 to be: Credited to 2014 estimated tax4	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c), and Part XV.

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2013 or the taxable year beginning in 2013 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Yes

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses.

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

ERIC H PETTIT Telephone no. bullet

(864) 415-6165

Located at bullet

P O BOX 8367SPARTANBURGSC ZIP+4 bullet

293058367

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2013, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the

foreign country bullet

Form 990-PF (2013)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2013?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2013, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2013?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?.........................YesNo

If "Yes," did it have excess business holdings in 2013 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2013.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2013?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions)........YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?........................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2013)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
JOELLA F UTLEY	SECT/TRUST 3.00	0	0	0
P O BOX 8367 SPARTANBURG,SC29305	SECT/TRUST 3.00	0	0	0
ERIC PETTIT	TRUSTEE 15.00	50,000	0	0
P O BOX 8367 SPARTANBURG,SC29305	TRUSTEE 15.00	50,000	0	0
OLIN SANSBURY	DIRECTOR 1.00	0	0	0
P O BOX 8367 SPARTANBURG,SC29305	DIRECTOR 1.00	0	0	0
CRAIG A KRIDEL	DIRECTOR 1.00	0	0	0
P O BOX 8367 SPARTANBURG,SC29305	DIRECTOR 1.00	0	0	0
SARAH GUNN	DIRECTOR 1.00	0	0	0
P O BOX 8367 SPARTANBURG,SC29305	DIRECTOR 1.00	0	0	0
ERIC PETTIT	DIRECTOR 1.00	0	0	0
P O BOX 8367 SPARTANBURG,SC29305	DIRECTOR 1.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1	PURCHASE, PHOTOGRAPH, CATALOG, MAINTAIN, AND DISPLAY A COLLECTION OF MUSICAL INSTRUMENTS	122,032
2


3


4

Form 990-PF (2013)

Page 7

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1	NONE	0
2


All other program-related investments. See page 24 of the instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

Average of monthly cash balances.......................

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

Minimum investment return. Enter 5% of line 5..................

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

Tax on investment income for 2013 from Part VI, line 5......

Income tax for 2013. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

Distributable amount before adjustments. Subtract line 2c from line 1............

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1................................

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2013)

Page 8

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2012	(c) 2012	(d) 2013
1 Distributable amount for 2013 from Part XI, line 7
2 Undistributed income, if any, as of the end of 2013:
a Enter amount for 2012 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2013:
a From 2008.......
b From 2009.......
c From 2010.......
d From 2011.......
e From 2012.......
fTotal of lines 3a through e.........
4Qualifying distributions for 2013 from Part
XII, line 4: $
a Applied to 2012, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions)......
c Treated as distributions out of corpus (Election required—see instructions).........
d Applied to 2013 distributable amount.....
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2013.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2012. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2013. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2014 ..........
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see instructions) .............
8Excess distributions carryover from 2008 not applied on line 5 or line 7 (see instructions) ...
9Excess distributions carryover to 2014. Subtract lines 7 and 8 from line 6a ......
10 Analysis of line 9:
a Excess from 2009....
b Excess from 2010....
c Excess from 2011....
d Excess from 2012....
e Excess from 2013....

Form 990-PF (2013)

Page 9

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2013, enter the date of the ruling....... bullet

1993-09-19

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2013	(b) 2012	(c) 2011	(d) 2010	(e) Total
	0	0	24,574	0	24,574
b 85% of line 2a .........	0	0	20,888	0	20,888
c Qualifying distributions from Part XII, line 4 for each year listed .....	180,365	229,593	221,604	121,495	753,057
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........	58,333	113,000	27,000	32,000	230,333
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	122,032	116,593	194,604	89,495	522,724
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......	1,715,626	1,572,868	1,609,383	1,815,515	6,713,392
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)	66,140	66,140	66,140	66,140	264,560
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...	47,871	45,704	49,248	49,355	192,178
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

JOELLA F UTLEY

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2013)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
NATIONAL MUSIC MUSEUM 414 E CLARK STREET VERMILLIOM,SD57069	NONE	509 (A) (2)	PROMOTE MUSIC	5,000
CONVERSE COLLEGE 580 EAST MAIN STREET SPARTANBURG,SC29302	NONE	509 (A) (2)	PROMOTE MUSIC	5,000
THE MUSIC FOUNDATION OF SPARTANBURG 200 EAST SAINT JOHN STREET SPARTANBURG,SC29306	NONE	509 (A) (2)	PROMOTE MUSIC	33,000
THE NATIONAL TRUMPET COMPETITION ASSOCIATION 3500 NORTH THIRD STREET ARLINGTON,VA22201	NONE	509(A)(2)	PROMOTE MUSIC	2,000
WOFFORD COLLEGE 429 NORTH CHURCH STREET SPARTANBURG,SC29303	NONE	509 (A) (2)	PROMOTE MUSIC	8,333
UNIVERSITY OF SOUTH DAKOTA FOUNDATION 1110 N DAKOTA STREET VERMILLIOM,SD57069	NONE	509 (A) (2)	PROMOTE MUSIC	5,000
Total ................................. 3a				58,333

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2013)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............			14	58
4 Dividends and interest from securities....			14	26,791
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....			14	722
8 Gain or (loss) from sales of assets other than inventory .............			18	139,120
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		166,691	0

13Total. Add line 12, columns (b), (d), and (e)..................

13166,691

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2013)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2013)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2013 CashDeemedCharitableExplnStmt

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Explanation:

THE FOUNDATION EXCLUDES FROM ASSETS USED IN CALCULATING MINIMUM INVESTMENT RETURN AN AMOUNT EQUAL TO ITS CURRENT ADMINISTRATIVE EXPENSES AND NORMAL AND CURRENT DISBUURSEMENTS DIRECTLY CONNECTED WITH ITS CHARIABLE ACTIVITIES. THE AMOUNT EXCLUDED FOR 2013 IS $169,532, WHICH IS THE AMOUNT PAID IN 2013 FOR SALARIES, DIRECT PROGRAM DISBURSEMENTS OTHER THAN GRANTS, AND INSURANCE.

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2013 DepreciationSchedule

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Adjusted Net Income
MUSIC REFERNCE BKS	1995-07-25	254	254	SL	12.000000000000	0	0
MUSIC REFERANCE BK	1995-09-08	114	114	SL	12.000000000000	0	0
MUSIC REFERENCE BK	1995-10-16	779	779	SL	12.000000000000	0	0
MUSIC REFERENCE BK	1995-12-07	311	311	SL	12.000000000000	0	0
MUSIC REFERENCE BK	1995-12-31	1,072	1,072	SL	12.000000000000	0	0
MUSIC & MEDICINE B	1996-02-20	39	39	SL	12.000000000000	0	0
MUSIC HISTORY REF	1996-03-21	813	813	SL	12.000000000000	0	0
MUSIC HISTORY REF	1996-05-30	314	314	SL	12.000000000000	0	0
GROVE DICTIONARIES	1996-06-12	911	911	SL	12.000000000000	0	0
BAND ENCYLCLOPEDIA	1996-06-20	100	100	SL	12.000000000000	0	0
MUSIC REF BK	1996-07-02	64	64	SL	12.000000000000	0	0
MUSIC DICTIONARIES	1996-08-21	940	940	SL	12.000000000000	0	0
MUSIC REF BK	1996-11-23	50	50	SL	12.000000000000	0	0
SPARTAN COPIER	1997-11-20	882	882	SL	10.000000000000	0	0
MUSIC REFERENCES	1997-10-20	305	305	SL	12.000000000000	0	0
MUSIC REFERENCES	1997-12-21	950	950	SL	12.000000000000	0	0
MUSIC REFERENCE	1998-02-09	30	30	SL	12.000000000000	0	0
MUSIC REFERENCE	1998-09-05	500	500	SL	12.000000000000	0	0
MUSIN REFERENCES	1998-09-26	181	181	SL	12.000000000000	0	0
MUSIC REFERENCE	1998-09-29	32	32	SL	12.000000000000	0	0
MUSIN REFERENCES	1998-11-08	1,841	1,841	SL	12.000000000000	0	0
MUSIC REFERENCES	1999-01-12	114	114	SL	12.000000000000	0	0
MUSIC REFERENCES	1999-02-07	369	369	SL	12.000000000000	0	0
MUSIC REFERENCES	1999-03-16	120	120	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-04-13	385	385	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-05-23	189	189	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-06-16	52	48	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-09-07	133	133	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-10-10	18	18	SL	12.000000000000	0	0
MUSIC REFERENCES	1999-11-11	684	684	SL	12.000000000000	0	0
MUSIC REFERENCE	1999-12-12	28	24	SL	12.000000000000	0	0
MUSIC REFERENCE	2000-01-09	62	62	SL	12.000000000000	0	0
MUSIC REFERENCES	2000-05-14	719	719	SL	12.000000000000	0	0
MUSIC REFERENCES	2000-06-08	937	937	SL	12.000000000000	0	0
DIGITAL CAMERA	2002-09-25	1,033	889	SL	12.000000000000	86	86
EQUIPMENT	2002-08-29	304	304	SL	12.000000000000	0	0
DESK/HUTCH/TABLES	2002-08-29	2,976	2,976	SL	12.000000000000	0	0
FURNITURE & EQUIP.	2002-08-29	15,147	15,147	SL	12.000000000000	0	0
PRINTER	2002-08-29	240	240	SL	12.000000000000	0	0
COMPUTER/PRINTER	2002-08-29	11,466	11,466	SL	12.000000000000	0	0
COMPUTER	2002-08-29	3,101	3,101	SL	12.000000000000	0	0
EXHIBIT DISPLAY	2002-08-29	1,038	1,038	SL	12.000000000000	0	0
COMPUTER	2002-08-29	13,469	13,469	SL	12.000000000000	0	0
COMPUTER	2002-08-29	3,922	3,922	SL	12.000000000000	0	0
COMPUTER	2002-08-29	9,058	9,058	SL	12.000000000000	0	0
COMPUTER	2002-08-29	6,190	6,190	SL	12.000000000000	0	0
SAMSUNG LASER FAX	2003-07-06	314	247	SL	12.000000000000	26	26
MACINTOSH COMPUTER	2005-03-12	3,113	2,029	SL	12.000000000000	259	259
OFFICE EQUIPMENT	2006-11-03	985	506	SL	12.000000000000	82	82

- TIN:

TY 2013 InvestmentsOtherSchedule2

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
SCHWAB MONEY MARKET FUND	AT COST	2,828	2,828
593.9776 SHS ANNALY CAPITAL MGMT	AT COST	0	0
250 SHS MEMORIAL PRODTN PTNR LP	AT COST	4,946	5,485
RAYMOND JAMES MOMEY MKT 880	AT COST	0	0
2,700 SHS AFFYMETRIX INC	AT COST	0	0
1,470 SHS ALLSCRIPTS	AT COST	0	0
275 SHS ANIXTER INTERNATIONAL	AT COST	0	0
350 SHS ATWOOD OCEANICS INC	AT COST	0	0
2,300 SHS BOISE INC	AT COST	0	0
325 SHS BRISTOW GROUP INC	AT COST	0	0
250 SHS CHART INDUSTRIES	AT COST	0	0
325 SHS CHILDRENS PL RETAIL STORES	AT COST	0	0
675 SHS DELUXE CORP	AT COST	0	0
225 SHS DRIL-QUIP INC	AT COST	0	0
450 SHS ENPRO INDUSTRIES INC.	AT COST	0	0
3,725 SHS ENTROPIC COMMUNICATIONS	AT COST	0	0
400 SHS FTI CONSULTING INC	AT COST	0	0
1,400 SHS HEALTHWAYS INC.	AT COST	0	0
450 SHS HORNBECK	AT COST	0	0
525 SHS INTREPID POTASH INC.	AT COST	0	0
890 SHS KBW INC.	AT COST	0	0
1,150 SHS KNIGHT CAP GROUP INC.	AT COST	0	0
725 SHS LENDER PROCESSING SVCS	AT COST	0	0
705 SHS LINCOLN EDL SVCS	AT COST	0	0
235 SHS LUFKIN INDUSTRIES INC.	AT COST	0	0
3,500 SHS MEMC ELECTR MATLS INC	AT COST	0	0
175 SHS MIDDLEBY CORPORATION	AT COST	0	0
1,075 SHS NAVIGANT CONSULTING	AT COST	0	0
1,700 SHS NORANDA ALUM HLDG	AT COST	0	0
450 SHS NORTHWESTERN CORP	AT COST	0	0
525 SHS OM GROUP INC	AT COST	0	0
275 SHS OSI SYSTEMS INC.	AT COST	0	0
215 SHS PORTFOLIO RECOVERY	AT COST	0	0
13,500 SHS RITE AID CORP	AT COST	0	0
335 SHS ROBBINS & MYERS INC.	AT COST	0	0
1,600 SHS SWS GROUP INC	AT COST	0	0
975 SHS SYKES ENTERPRISES	AT COST	0	0
1,400 SHS VISHAY INTERTECHNOLOGY INC	AT COST	0	0
RAYMOND JAMES MONEY MKT 903	AT COST	0	0
330 SHS AMERICAN EXPRESS COMPANY	AT COST	0	0
210 SHS BARD C R INC.	AT COST	0	0
690 SHS BARRICK GOLD CORPORATION	AT COST	0	0
290 SHS BAXTER INTERNATIONAL INC.	AT COST	0	0
200 SHS BECTON DICKINSON	AT COST	0	0
245 SHS CVS CAREMARK CORP	AT COST	0	0
110 SHS CHEVRON CORP	AT COST	0	0
285 SHS CHUBB CORPORATION	AT COST	0	0
1,005 SHS CISCO SYSTEMS INC.	AT COST	0	0
355 SHS CONOCO PHILLIPS	AT COST	0	0
583 SHS DR PEPPER SNAPPLE GROUP	AT COST	0	0
1,160 SHS DELL INC	AT COST	0	0
370 SHS DEVON ENERGY	AT COST	0	0
230 SHS EBAY INC	AT COST	0	0
910 SHS EXELON CORP	AT COST	0	0
305 SHS EXXON MOBIL CORP	AT COST	0	0
335 SHS GLAXOSMITHKLINE PLC	AT COST	0	0
27 SHS GOOGLE INC.	AT COST	0	0
350 SHS JOHNSON & JOHNSON	AT COST	0	0
680 SHS MEDTRONIC INC	AT COST	0	0
1,010 SHS MICROSOFT CORP	AT COST	0	0
715 SHS MOLSON COORS BREWING CO.	AT COST	0	0
315 SHS NEWMONT MINING CORPORATION	AT COST	0	0
320 SHS NORTHROP GRUMMAN	AT COST	0	0
405 SHS PNC FINL SVCS GROUP	AT COST	0	0
455 SHS PEPSICO INC	AT COST	0	0
360 SHS PROCTER & GAMBLE	AT COST	0	0
1,745 SHS CHARLES SCHARLES CORP	AT COST	0	0
160 SHS SIGMA ALDRICH CORP	AT COST	0	0
445 SHS SUNTRUST BKS INC	AT COST	0	0
445 SHS TARGET CORPORATION	AT COST	0	0
230 SHS TORCHMARK CORP	AT COST	0	0
220 SHS TRAVELERS COMPANIES	AT COST	0	0
595 SHS US BANCORP	AT COST	0	0
430 SHS UNILEVER N V N Y SHS	AT COST	0	0
460 SHS WAL MART STORES	AT COST	0	0
635 SHS WELLS FARGO & COMPANY	AT COST	0	0
WELLS FARGO MONEY MKT 0346	AT COST	13,512	13,512
380 SHS AMERICAN EXPRESS CO	AT COST	8,437	34,477
1,560 SHS ANNALY CAPITAL MANAGEMENT	AT COST	15,537	15,553
1,420 SHS BARRICK GOLD CORP	AT COST	36,860	25,035
325 SHS BAXTER INTERNATIONAL	AT COST	15,358	22,604
200 SHS BECTON DICKINSON	AT COST	14,500	22,098
110 SHS CHEVRON CORP	AT COST	7,946	13,740
285 SHS CHUBB CORPORATION	AT COST	13,492	27,540
810 SHS CISCO SYSTEMS	AT COST	13,781	18,168
355 SHS CONOCO PHILLIPS	AT COST	15,354	25,081
245 SHS CVS CAREMARK CORP	AT COST	7,809	17,535
420 SHS DEVON ENERGY CORP	AT COST	22,500	25,985
798 SHS DR PEPPER SNAPPLE GROUP	AT COST	28,174	38,879
1,290 SHS EXELON CORP	AT COST	43,481	35,333
320 SHS EXPRESS SCRIPTS	AT COST	20,053	22,477
400 SHS EXXON MOBIL	AT COST	29,129	40,480
400 SHS GLAXOSMITHKLINE	AT COST	14,994	21,356
280 SHS JOHNSON & JOHNSON	AT COST	17,194	25,645
495 SHS MACK CALI RLTY CORP	AT COST	9,979	10,633
745 SHS MEDTRONIC INC	AT COST	24,837	42,756
960 SHS MICROSOFT CORP	AT COST	24,236	35,914
920 SHS MOLSON COORS BREWING	AT COST	41,736	51,658
475 SHS NEWMONT MINING CORP	AT COST	18,664	10,939
320 SHS NORTHROP GRUMMAN	AT COST	17,796	36,675
510 SHS PEPSICO INC	AT COST	30,333	42,299
450 SHS PNC FINANCIAL SERVICES	AT COST	23,838	34,911
360 SHS PROCTER & GAMBLE	AT COST	18,954	29,308
924 SHS CHARLES SCHWAB CORP	AT COST	11,003	24,024
160 SHS SIGMA ALDRICH CORP	AT COST	5,917	15,042
445 SHS SUNTRUST BKS INC	AT COST	6,839	16,380
1,255 SHS TAIWAN SEMICONDUCTOR	AT COST	19,884	21,887
515 SHS TARGET CORP	AT COST	22,296	32,584
495 SHS THE SOUTHERN COMPANY	AT COST	20,317	20,349
230 SHS TORCHMARK CORP	AT COST	3,586	17,975
220 SHS TRAVELERS COMPANIES	AT COST	9,534	19,918
835 SHS US BANCORP	AT COST	21,100	33,734
510 SHS WAL-MART	AT COST	26,020	40,131
785 SHS WELLS FARGO COMPANY	AT COST	21,876	35,639
WELLS FARGO MONEY MKT 4987	AT COST	7,395	7,395
1,180 SHS ACCURAY INC	AT COST	5,431	10,266
138 SHS ACI WORLDWIDE INC	AT COST	6,505	8,970
354 SHS AEROVIRONMENT INC	AT COST	6,981	10,316
1,183 SHS AFFYMETRIX INC	AT COST	3,033	10,138
102 SHS ALLEGIANT TRAVEL	AT COST	8,711	10,755
567 SHS ALLSCRIPTS HEALTHCARE	AT COST	6,024	8,766
277 SHS ALTRA INDUSTRIAL MOTION	AT COST	7,458	9,479
1,408 SHS AMKOR TECHNOLOGY	AT COST	5,968	8,631
87 SHS ANIXTER INTL	AT COST	6,130	7,816
193 SHS ASPEN TECHNOLOGY	AT COST	6,099	8,067
177 SHS ATWOOD OCEANICS	AT COST	3,672	9,450
205 SHS AXIALL CORP	AT COST	7,703	9,725
165 SHS BRISTOW GROUP	AT COST	5,962	12,385
90 SHS CACI INTL INC	AT COST	4,829	6,590
268 SHS CARDTRONICS INC	AT COST	7,164	11,645
514 SHS CENTURY ALUMINUM	AT COST	4,321	5,376
116 SHS CHART INDUSTRIES	AT COST	813	11,094
116 SHS CHILDREN PL RETAIL	AT COST	5,260	6,609
218 SHS DELUXE CORP	AT COST	3,394	11,377
653 SHS DEMAND MEDIA	AT COST	5,358	3,768
281 SHS DFC GLOBAL	AT COST	5,212	3,217
98 SHS DINEEQUITY	AT COST	6,970	8,188
113 SHS DRIL-QUIP	AT COST	6,101	12,422
1,049 SHS EARTHLINK	AT COST	5,867	5,317
268 SHS EMPLOYERS HOLDINGS	AT COST	7,111	8,482
152 SHS ENPRO INDUSTRIES	AT COST	5,048	8,763
1,331 SHS ENTROPIC COMMUNICATIONS	AT COST	5,062	6,256
174 SHS FIRST CASH FINANCIAL	AT COST	9,590	10,760
373 SHS FLOTEK INDUSTRIES	AT COST	7,290	7,486
148 SHS FTI CONSULTING	AT COST	5,571	6,089
148 SHS GULFMARK OFFSHORE	AT COST	5,316	6,975
213 SHS HAWAIIAN ELEC INDS	AT COST	5,810	5,551
282 SHS HEXCEL CORP	AT COST	7,964	12,603
170 SHS HORNBECK OFFSHORE	AT COST	5,656	8,369
144 SHS INTERDIGITAL INC	AT COST	4,772	4,247
257 SHS INTL RECTIFIER CORP	AT COST	5,433	6,700
216 SHS INTREPID POTASH	AT COST	5,338	3,421
251 SHS KCG HOLDINGS	AT COST	8,675	3,002
573 SHS LINCOLN EDUCATIONAL SERVICES	AT COST	12,887	2,854
156 SHS M D C HOLDINGS	AT COST	6,157	5,029
269 SHS MYR GROUP	AT COST	6,688	6,747
384 SHS NAVIGANT CONSULTING	AT COST	5,485	7,373
163 SHS NORTHWESTERN CORP	AT COST	4,880	7,061
510 SHS NXSTAGE MEDICAL	AT COST	6,112	5,100
3,450 SHS OFFICE DEPOT	AT COST	14,770	18,251
443 SHS OFG BANCORP	AT COST	7,104	7,682
122 SHS OSI SYS	AT COST	4,887	6,479
240 SHS PORTFOLIO RECOVERY	AT COST	4,467	12,682
443 SHS ROVI CORP	AT COST	9,143	8,723
46 SHS STIFEL FINANCIAL	AT COST	3,970	2,204
701 SHS SWS GROUP	AT COST	8,589	4,262
328 SHS SYKES ENTERPRISES	AT COST	4,257	7,154
193 SHS TEAM HEALTH HOLDINGS	AT COST	6,686	8,791
295 SHS TETRA TECH	AT COST	7,326	8,254
105 SHS TIDEWATER	AT COST	4,930	6,223
112 SHS TREX COMPANY	AT COST	5,507	8,907
312 SHS TRONOX	AT COST	7,247	7,198
275 SHS VCA ANTECH	AT COST	6,216	8,624
450 SHS VERIFONE SYSTEMS	AT COST	10,358	12,069
472 SHS VISHAY INTERTECHNOLOGY	AT COST	2,512	6,258

- TIN:

TY 2013 LandEtcSchedule2

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
MUSIC REFERNCE BKS	254	254	0
MUSIC REFERANCE BK	114	114	0
MUSIC REFERENCE BK	779	779	0
MUSIC REFERENCE BK	311	311	0
MUSIC REFERENCE BK	1,072	1,072	0
MUSIC & MEDICINE B	39	39	0
MUSIC HISTORY REF	813	813	0
MUSIC HISTORY REF	314	314	0
GROVE DICTIONARIES	911	911	0
BAND ENCYLCLOPEDIA	100	100	0
MUSIC REF BK	64	64	0
MUSIC DICTIONARIES	940	940	0
MUSIC REF BK	50	50	0
SPARTAN COPIER	882	882	0
MUSIC REFERENCES	305	305	0
MUSIC REFERENCES	950	950	0
MUSIC REFERENCE	30	30	0
MUSIC REFERENCE	500	500	0
MUSIN REFERENCES	181	181	0
MUSIC REFERENCE	32	32	0
MUSIN REFERENCES	1,841	1,841	0
MUSIC REFERENCES	114	114	0
MUSIC REFERENCES	369	369	0
MUSIC REFERENCES	120	120	0
MUSIC REFERENCE	385	385	0
MUSIC REFERENCE	189	189	0
MUSIC REFERENCE	52	48	4
MUSIC REFERENCE	133	133	0
MUSIC REFERENCE	18	18	0
MUSIC REFERENCES	684	684	0
MUSIC REFERENCE	28	24	4
MUSIC REFERENCE	62	62	0
MUSIC REFERENCES	719	719	0
MUSIC REFERENCES	937	937	0
DIGITAL CAMERA	1,033	975	58
EQUIPMENT	304	304	0
DESK/HUTCH/TABLES	2,976	2,976	0
FURNITURE & EQUIP.	15,147	15,147	0
PRINTER	240	240	0
COMPUTER/PRINTER	11,466	11,466	0
COMPUTER	3,101	3,101	0
EXHIBIT DISPLAY	1,038	1,038	0
COMPUTER	13,469	13,469	0
COMPUTER	3,922	3,922	0
COMPUTER	9,058	9,058	0
COMPUTER	6,190	6,190	0
SAMSUNG LASER FAX	314	273	41
MACINTOSH COMPUTER	3,113	2,288	825
OFFICE EQUIPMENT	985	588	397

- TIN:

TY 2013 OtherAssetsSchedule

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
TRUMPET ARTWORK	12,300	12,300	12,300
TRUMPET	53,840	53,840	53,840

- TIN:

TY 2013 OtherExpensesSchedule

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OFFICE EXPENSE	49	49	49	0
PROGRAM EXPENSE	103,950	0	0	103,950
INSURANCE - MUSICAL INSTRUMENTS	15,582	0	0	15,582

- TIN:

TY 2013 OtherIncomeSchedule2

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
REFUND OF FEDERAL TAX	722	0	0

- TIN:

TY 2013 OtherProfessionalFeesSchedule

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	23,140	23,140	23,140	0

- TIN:

TY 2013 TaxesSchedule

Name:

THE JOE R AND JOELLA F UTLEY FOUNDATION INC

EIN: 57-0974104

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX PAID ON DIVIDENDS	39	39	39	0