Form990-PF

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo 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.
bulletInformation 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 09-01-2013 , and ending 08-31-2014
Name of foundation
L FRANKLIN PURNELL FOUNDATION
C/O WILLIAM SMITH

Number and street (or P.O. box number if mail is not delivered to street address)11530 QUILLEN WAY   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BERLIN, MD21811
A Employer identification number

23-7187899
B Telephone number (see instructions)

(410) 641-0448
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$641,669J Accounting method:
 
(Part I, column (d) must be on cash basis.)
F bullet
Part I 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)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet
3 Interest on savings and temporary cash investments 4,631 4,631 4,631
4 Dividends and interest from securities...... 10,008 10,008 10,008
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 54,344
b Gross sales price for all assets on line 6a 288,684
7 Capital gain net income (from Part IV, line 2)... 2,914
8 Net short-term capital gain.........  
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)....... Click to see attachment 117   117
12 Total. Add lines 1 through 11........ 69,100 17,553 14,756
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 4,200      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,165 3,165 3,165  
c Other professional fees (attach schedule).... Click to see attachment 2,800 2,800 2,800  
17 Interest...............        
18 Taxes (attach schedule) (see instructions) Click to see attachment 484 484 484  
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 1,001 1,001 1,001  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 11,650 7,450 7,450 0
25 Contributions, gifts, grants paid........ 20,100 20,100
26 Total expenses and disbursements. Add lines 24 and 25 31,750 7,450 7,450 20,100
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 37,350
b Net investment income (if negative, enter -0-) 10,103
c Adjusted net income (if negative, enter -0-)... 7,306
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
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 4,010 5,544 5,544
2 Savings and temporary cash investments.......... 19,140 10,908 10,908
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges........... 520 318 318
10a Investments—U.S. and state government obligations (attach schedule) 63,916 Click to see attachment63,916 69,284
b Investments—corporate stock (attach schedule)........ 405,141 Click to see attachment459,131 533,345
c Investments—corporate bonds (attach schedule)........ 29,361 Click to see attachment19,621 22,270
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 522,088 559,438 641,669
Liabilities 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 bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................... 522,088 559,438
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see page 17 of the
instructions).................... 522,088 559,438
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 522,088 559,438
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)............... 1 522,088
2 Enter amount from Part I, line 27a..................... 2 37,350
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 559,438
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 559,438
Form 990-PF (2013)
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.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
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
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,914
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 . . . . . . . . . . . . . . . . 		Bracket 3  
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?
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 21,400 536,155 0.039914
2011 21,250 528,272 0.040225
2010 20,906 503,552 0.041517
2009 25,900 497,465 0.052064
2008 30,859 569,227 0.054212
2 Total of line 1, column (d) ...................... 2 0.227932
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 0.045586
4 Enter the net value of noncharitable-use assets for 2013 from Part X, line 5..... 4 580,145
5 Multiply line 4 by line 3....................... 5 26,446
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 101
7 Add lines 5 and 6......................... 7 26,547
8 Enter qualifying distributions from Part XII, line 4.............. 8 20,100
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)
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 Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 202
hereBulletand 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  
3 Add lines 1 and 2............................ 3 202
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 202
6 Credits/Payments:
a 2013 estimated tax payments and 2012 overpayment credited to 2013 6a 520
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 520
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 318
11 Enter the amount of line 10 to be: Credited to 2014 estimated taxBullet318 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
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.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
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?................
    6
    Yes
     
    7
    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.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletMD
    b
    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 .
    8b
    Yes
     
    9
    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.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses.
    10
     
    No
    11
    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) .............
    11
     
    No
    12
    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).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletNONE
    14
    The books are in care ofbulletWILLIAM SMITH Telephone no.bullet (410) 641-0448
    Located atbullet11530 QUILLEN WAYBERLINMD ZIP+4bullet21811
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    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)
    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
    No
    1a
    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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?.................
    (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.).........
    b
    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)?...
    1b
     
    No
    .........bullet
    c
    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?.............
    1c
     
     
    2
    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)):
    a
    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?...............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    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.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?.........................
    b
    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.)....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    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?
    4b
     
    No
    5a
    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))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (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)........
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    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)? ......
    5b
     
     
    .........bullet
    c
    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?............
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?........................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (2013)
    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
    WILLIAM D SMITHClick to see attachment SECRETARY/TR
    3.00     		2,100 0 0
    11530 QUILLEN WAY
    BERLIN,MD21811
    RAYMOND COATESClick to see attachment PRESIDENT
    1.00     		900 0 0
    PO BOX 366
    BERLIN,MD21811
    DR ROBERT DURKINClick to see attachment DIRECTOR
    1.00     		600 0 0
    10226 SILVER POINT
    OCEAN CITY,MD21811
    WAYNE BENSONClick to see attachment DIRECTOR
    1.00     		600 0 0
    ST MARTINS NECK ROAD
    BISHOPVILLE,MD21813
    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...................bullet  
    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
     
    2  
    3  
    4  
    Form 990-PF (2013)
    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 N/A  
    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.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
     
    b
    Average of monthly cash balances.......................
    1b
     
    c
    Fair market value of all other assets (see instructions)................
    1c
     
    d
    Total (add lines 1a, b, and c).........................
    1d
     
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
     
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
     
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
     
    6
    Minimum investment return. Enter 5% of line 5..................
    6
     
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    29,007
    2a
    Tax on investment income for 2013 from Part VI, line 5......
    2a
    202
    b
    Income tax for 2013. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    202
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    28,805
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    28,805
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    28,805
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
     
    5
    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).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
     
    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)
    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 28,805
    2 Undistributed income, if any, as of the end of 2013:
    a Enter amount for 2012 only....... 9,852
    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: bullet$ 20,100
    a Applied to 2012, but not more than line 2a 9,852
    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..... 10,248
    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 ..........     		18,557
    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)
    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
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    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
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used
    directly for active conduct of exempt activities ...........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    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) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    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).)
    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
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    WILLIAM SMITH
    11530 QUILLEN WAY
    BERLIN,MD21811
    (410) 641-0448
    bThe form in which applications should be submitted and information and materials they should include:
    THERE IS NO SPECIFIC FORMAT FOR APPLICATIONS OR REQUIRED INFORMATION OR MATERIALS THAT NEED TO BE INCLUDED WITH THE APPLICATION OTHER THAN CONTACT INFORMATION.
    cAny submission deadlines:
    THERE ARE NO DEADLINES WITH RESPECT TO SUBMISSIONS FOR GIFTS OR GRANTS.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    EXPENDITURES MUST BE FOR CHARITABLE, RELIGIOUS, EDUCA- TIONAL, OR SCIENTIFIC PURPOSES, WITHIN THE UNITED STATES OF AMERICA. DISTRIBUTIONS SHOULD BE MADE TO ORGANIZATIONS WHICH QUALIFY AS EXEMPT ORGANIZATIONS UNDER APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE.
    Form 990-PF (2013)
    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)
    aPaid during the year
    BETHANY UNITED METHODIST CHURCH
    8648 STEPHEN DECATUR HWY
    BERLIN,MD21811     		NONE N/A BUILDING FUND 1,000
    BUCKINGHAM PRESBYTERIAN CHURCH
    202 SOUTH MAIN STREET
    BERLIN,MD21811     		NONE N/A BUILDING FUND 1,000
    DIAKONIA INC
    12747 OLD BRIDGE ROAD
    OCEAN CITY,MD21842     		NONE N/A EMERGENCY HOMELESS CENTER 10,000
    SEASIDE DANCE ACADEMY
    16 SOUTH MAIN STREET
    BERLIN,MD21811     		NONE N/A PROMOTE LOCAL DANCE 1,000
    SHIRLEY GRACE PREGNANCY CENTER
    10226 OLD OCEAN CITY BLVD
    BERLIN,MD21811     		NONE N/A AIDE WITH UNINTENDED PREGNANCY 800
    WOR WIC COMMUNITY COLLEGE
    32000 CAMPUS DRIVE
    SALISBURY,MD21801     		NONE N/A EDUCATIONAL PROGRAMS 3,000
    WORCESTER COUNTY ARTS COUNCIL
    6 JEFFERSON STREET
    BERLIN,MD21811     		NONE N/A CULTURAL PROMOTION 300
    WORCESTER COUNTY DEVELOPM
    8545 NEWARK ROAD
    NEWARK,MD21841     		NONE N/A ASSIST DEVELOPMENTALLY DISABLED 2,000
    WORCESTER COUNTY YOUTH &
    29 BROAD STREET
    BERLIN,MD21811     		NONE N/A FAMILY SUPPORT CENTER 1,000
    Total .................................bullet 3a 20,100
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2013)
    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
    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 ............     		        4,631
    4 Dividends and interest from securities....         10,008
    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.....          
    8
    Gain or (loss) from sales of assets other than inventory .............     		        54,344
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aCLASS ACTION SUIT PROCEEDS         117
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..     69,100
    13Total. Add line 12, columns (b), (d), and (e)..................
    1369,100
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		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.)
    3 EARNING OF INTEREST, DIVIDENDS AND GAINS FROM INVESTMENT
    4 IS CRUCIAL TO THE FOUNDATIONS EFFORTS SO THAT THE FOUNDATION MAY PERPETUATE ITSELF WHILE PROVIDING ANNUAL GIFTS TO LOCAL CHARITIES.
    Form 990-PF (2013)
    Form 990-PF (2013)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    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
    No
    organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    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
    2a
    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?...........
    b
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2013)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2013 AccountingFeesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TYLER & COMPANY, P.A. 3,165 3,165 3,165  

    TY 2013 CompensationExplanation
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Person Name Explanation
    WILLIAM D SMITH  
    RAYMOND COATES  
    DR ROBERT DURKIN  
    WAYNE BENSON  

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

    TY 2013 GainLossSaleOtherAssetsSch
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    PAA-PLAINS ALL AMERICAN PIPELINE L.P 2013-02 PURCHASE 2013-09   508 539     -31  
    PAA-PLAINS ALL AMERICAN PIPELINE L.P 2012-12 PURCHASE 2013-09   2,182 1,975     207  
    EIX-EDISON INTERNATIONAL-80 2013-03 PURCHASE 2013-09   3,548 4,015     -467  
    CAG-CONAGRA FOODS INC-37 2012-10 PURCHASE 2013-09   1,169 1,036     133  
    CAG-CONAGRA FOODS INC-37 2012-10 PURCHASE 2013-09   1,168 1,036     132  
    IP-INTERNATIONAL PAPER COMPANY-51 2013-02 PURCHASE 2013-09   2,408 2,158     250  
    VZ-VERIZON COMMUNICATIONS-16 2013-05 PURCHASE 2013-10   750 856     -106  
    GLW-CORNING INCORPORATED-144 2013-05 PURCHASE 2013-10   2,060 2,232     -172  
    GLW-CORNING INCORPORATED-66 2013-06 PURCHASE 2013-10   944 1,027     -83  
    CPT-CAMDEN PROPERTY TRUST-34 2013-02 PURCHASE 2013-10   2,191 2,435     -244  
    JEC-JACOBS ENGINEERING GROUP INC.-2 2013-02 PURCHASE 2013-10   119 98     21  
    JEC-JACOBS ENGINEERING GROUP INC.-28 2013-02 PURCHASE 2013-10   1,670 1,402     268  
    JEC-JACOBS ENGINEERING GROUP INC.-22 2013-02 PURCHASE 2013-10   1,312 1,098     214  
    FNF-FIDELITY NATIONAL FINANCIAL INC 2013-01 PURCHASE 2013-10   2,207 2,103     104  
    HTZ-HERTZ GLOBAL HOLDINGS INC-123 2013-03 PURCHASE 2013-11   2,805 2,513     292  
    LYB-LYONDELLBASELL INDUSTRIES NV-44 2013-04 PURCHASE 2013-11   3,320 2,540     780  
    RKT-ROCK-TENN COMPANY-25 2013-06 PURCHASE 2013-11   2,396 2,478     -82  
    PNC-P N C FIN SVCS GR-6257.48 2013-05 PURCHASE 2013-11   6,257 6,257        
    PNC-P N C FIN SVCS GR-6011.94 2013-08 PURCHASE 2013-11   6,012 6,012        
    AVT-AVNET-25 2013-03 PURCHASE 2013-12   1,001 907     94  
    AVT-AVNET-20 2013-03 PURCHASE 2013-12   801 726     75  
    AVT-AVNET-34 2013-03 PURCHASE 2013-12   1,363 1,234     129  
    WLL-WHITING PETROLEUM CORP.-23 2013-04 PURCHASE 2013-12   1,386 1,065     321  
    JAZZ-JAZZ PHARMACEUTICALS-17 2013-07 PURCHASE 2013-12   2,035 1,191     844  
    AET-AETNA INC.-33 2013-05 PURCHASE 2013-12   2,219 1,961     258  
    ALL-ALLSTATE CP-27 2013-02 PURCHASE 2013-12   1,455 1,261     194  
    AAPL-APPLE INC-5 2013-09 PURCHASE 2013-12   2,835 2,453     382  
    CVS-CVS CAREMARK CP-36 2013-05 PURCHASE 2013-12   2,449 2,145     304  
    COF-CAPITAL ONE FINANCIAL CP-27 2013-07 PURCHASE 2013-12   1,966 1,862     104  
    COP-CONOCOPHILLIPS-40 2013-09 PURCHASE 2013-12   2,821 2,654     167  
    DHI-D.R. HORTON-53 2013-03 PURCHASE 2013-12   1,035 1,320     -285  
    DAL-DELTA AIR LINES INC.-78 2013-07 PURCHASE 2013-12   2,242 1,489     753  
    EXR-EXTRA SPACE STORAGE INC-24 2013-10 PURCHASE 2013-12   1,013 1,137     -124  
    F-FORD MOTOR CO-64 2013-09 PURCHASE 2013-12   1,058 1,108     -50  
    F-FORD MOTOR CO-28 2013-09 PURCHASE 2013-12   463 485     -22  
    GS/PC-GOLDMAN SACHS PFD-1 2013-02 PURCHASE 2013-12   170 151     19  
    HP-HELMERICH & PAYNE-33 2013-03 PURCHASE 2013-12   2,617 2,128     489  
    LNC-LINCOLN NATIONAL CP-55 2013-04 PURCHASE 2013-12   2,815 1,773     1,042  
    MSCI-MSCI INC-31 2013-10 PURCHASE 2013-12   1,357 1,267     90  
    MSCI-MSCI INC-1 2013-10 PURCHASE 2013-12   44 41     3  
    MGA-MAGNA INTERNATIONAL-17 2013-06 PURCHASE 2013-12   1,363 1,185     178  
    MAN-MANPOWER INC-7 2013-10 PURCHASE 2013-12   571 555     16  
    MAN-MANPOWER INC-14 2013-10 PURCHASE 2013-12   1,142 1,110     32  
    MCK-MCKESSON CORP-10 2013-10 PURCHASE 2013-12   1,600 1,380     220  
    MEOH-METHANEX CORP-2 2013-11 PURCHASE 2013-12   115 115        
    MEOH-METHANEX CORP-28 2013-11 PURCHASE 2013-12   1,617 1,641     -24  
    NFG-NATIONAL FUEL GAS COMPANY-31 2013-05 PURCHASE 2013-12   2,163 1,932     231  
    OCR-OMNICARE INC-37 2012-12 PURCHASE 2013-12   2,203 1,330     873  
    PPG-PPG INDUSTRIES INC.-7 2013-11 PURCHASE 2013-12   1,315 1,268     47  
    QCOR-QUESTCOR PHARMACEUTICALS-26 2013-10 PURCHASE 2013-12   1,357 1,525     -168  
    RF-REGIONS FINANCING TR I-246 2013-05 PURCHASE 2013-12   2,348 2,064     284  
    RF-REGIONS FINANCING TR I-20 2013-05 PURCHASE 2013-12   191 183     8  
    RCI-ROGERS COMMUNICATION-24 2013-05 PURCHASE 2013-12   1,099 1,181     -82  
    STJ-ST. JUDE MEDICAL-39 2013-01 PURCHASE 2013-12   2,315 1,544     771  
    SNDK-SANDISK CP-12 2013-12 PURCHASE 2013-12   829 819     10  
    SNDK-SANDISK CP-8 2013-12 PURCHASE 2013-12   553 546     7  
    AOS-SMITH A.O. CORP-18 2013-11 PURCHASE 2013-12   954 943     11  
    AOS-SMITH A.O. CORP-10 2013-11 PURCHASE 2013-12   530 528     2  
    URI-UNITED RENTALS-23 2013-01 PURCHASE 2013-12   1,650 1,107     543  
    VLO-VALERO ENERGY CORP.-29 2013-12 PURCHASE 2013-12   1,349 1,349        
    VZ-VERIZON COMMUNICATIONS-24 2013-05 PURCHASE 2013-12   1,178 1,284     -106  
    WLL-WHITING PETROLEUM CORP.-18 2013-04 PURCHASE 2013-12   1,057 834     223  
    WLL-WHITING PETROLEUM CORP.-5 2013-08 PURCHASE 2013-12   294 259     35  
    WYNN-WYNN RESORTS LIMITED-6 2013-05 PURCHASE 2013-12   1,089 836     253  
    WYNN-WYNN RESORTS LIMITED-9 2013-05 PURCHASE 2013-12   1,633 1,256     377  
    YHOO-YAHOO INC.-54 2013-07 PURCHASE 2013-12   2,168 1,359     809  
    DHI-D.R. HORTON-19 2013-03 PURCHASE 2013-12   377 473     -96  
    DHI-D.R. HORTON-2 2013-03 PURCHASE 2013-12   39 50     -11  
    DHI-D.R. HORTON-15 2013-03 PURCHASE 2013-12   295 374     -79  
    DHI-D.R. HORTON-13 2013-03 PURCHASE 2013-12   253 324     -71  
    F-FORD MOTOR CO-27 2013-09 PURCHASE 2014-01   414 468     -54  
    F-FORD MOTOR CO-18 2013-09 PURCHASE 2014-01   275 312     -37  
    F-FORD MOTOR CO-41 2013-09 PURCHASE 2014-01   626 722     -96  
    COF-CAPITAL ONE FINANCIAL CP-12 2013-07 PURCHASE 2014-01   871 828     43  
    COF-CAPITAL ONE FINANCIAL CP-14 2013-09 PURCHASE 2014-01   1,016 950     66  
    JAZZ-JAZZ PHARMACEUTICALS-8 2013-07 PURCHASE 2014-01   1,132 560     572  
    YHOO-YAHOO INC.-18 2013-07 PURCHASE 2014-01   667 453     214  
    C-CITIGROUP INC-26 2013-05 PURCHASE 2014-02   1,249 1,347     -98  
    AOS-SMITH A.O. CORP-25 2013-11 PURCHASE 2014-02   1,148 1,321     -173  
    WYNN-WYNN RESORTS LIMITED-2 2013-05 PURCHASE 2014-02   445 279     166  
    WYNN-WYNN RESORTS LIMITED-4 2013-06 PURCHASE 2014-02   889 549     340  
    OCR-OMNICARE INC-15 2013-08 PURCHASE 2014-02   918 795     123  
    PNC-P N C FIN SVCS GR-5247.84 2013-08 PURCHASE 2014-02   5,248 5,248        
    DAL-DELTA AIR LINES INC.-10 2013-07 PURCHASE 2014-03   343 191     152  
    QCOR-QUESTCOR PHARMACEUTICALS-16 2013-10 PURCHASE 2014-03   1,044 938     106  
    QCOR-QUESTCOR PHARMACEUTICALS-8 2013-10 PURCHASE 2014-03   522 476     46  
    RCI-ROGERS COMMUNICATION-14 2013-05 PURCHASE 2014-03   545 689     -144  
    RCI-ROGERS COMMUNICATION-9 2013-05 PURCHASE 2014-03   352 443     -91  
    HP-HELMERICH & PAYNE-6 2013-08 PURCHASE 2014-03   617 402     215  
    NSC-NORFOLK SOUTHER CORP.-13 2014-02 PURCHASE 2014-03   1,267 1,214     53  
    PPG-PPG INDUSTRIES INC.-2 2013-11 PURCHASE 2014-03   390 362     28  
    PPG-PPG INDUSTRIES INC.-5 2013-11 PURCHASE 2014-03   974 906     68  
    MSCI-MSCI INC-30 2013-10 PURCHASE 2014-04   1,253 1,242     11  
    MSCI-MSCI INC-1 2014-01 PURCHASE 2014-04   42 45     -3  
    MSCI-MSCI INC-8 2014-01 PURCHASE 2014-04   336 357     -21  
    GS/PC-GOLDMAN SACHS PFD-1 2014-01 PURCHASE 2014-04   153 180     -27  
    FITB-FIFTH THIRD BANCORP-14 2014-04 PURCHASE 2014-05   286 316     -30  
    FITB-FIFTH THIRD BANCORP-16 2014-04 PURCHASE 2014-05   327 346     -19  
    JAZZ-JAZZ PHARMACEUTICALS-8 2013-07 PURCHASE 2014-05   1,034 560     474  
    PNC-P N C FIN SVCS GR-1622.26 2013-08 PURCHASE 2014-05   1,622 1,622        
    PNC-P N C FIN SVCS GR-4385.87 2013-11 PURCHASE 2014-05   4,386 4,386        
    PNC-P N C FIN SVCS GR-567.91 2014-02 PURCHASE 2014-05   568 568        
    MEOH-METHANEX CORP-5 2013-11 PURCHASE 2014-06   286 304     -18  
    MEOH-METHANEX CORP-2 2013-11 PURCHASE 2014-06   114 127     -13  
    MEOH-METHANEX CORP-20 2013-11 PURCHASE 2014-06   1,143 1,273     -130  
    TIME-TIME, INC.-0.5 2014-06 PURCHASE 2014-06   11 39     -28  
    TIME-TIME, INC.-3 2014-06 PURCHASE 2014-06   70 234     -164  
    YHOO-YAHOO INC.-19 2013-07 PURCHASE 2014-06   639 478     161  
    YHOO-YAHOO INC.-13 2013-10 PURCHASE 2014-06   437 439     -2  
    AAPL-APPLE INC-17 2013-10 PURCHASE 2014-07   1,621 1,175     446  
    VLO-VALERO ENERGY CORP.-26 2013-12 PURCHASE 2014-07   1,280 1,211     69  
    VLO-VALERO ENERGY CORP.-16 2013-12 PURCHASE 2014-07   787 734     53  
    VLO-VALERO ENERGY CORP.-3 2013-12 PURCHASE 2014-07   148 150     -2  
    KKR-KKR & CO. L.P.-24 2014-01 PURCHASE 2014-07   587 625     -38  
    KKR-KKR & CO. L.P.-28 2014-01 PURCHASE 2014-07   684 731     -47  
    LLL-L-3 COMMUNICATIONS HOLDINGS-6 2014-03 PURCHASE 2014-08   627 698     -71  
    LLL-L-3 COMMUNICATIONS HOLDINGS-11 2014-03 PURCHASE 2014-08   1,149 1,281     -132  
    ZMH-ZIMMER HOLDINGS INC.-22 2014-02 PURCHASE 2014-08   2,125 2,109     16  
    SU-SUNCOR ENERGY INC.-35 2014-05 PURCHASE 2014-08   1,352 1,351     1  
    SU-SUNCOR ENERGY INC.-3 2014-07 PURCHASE 2014-08   116 128     -12  
    SU-SUNCOR ENERGY INC.-15 2014-07 PURCHASE 2014-08   580 642     -62  
    SNDK-SANDISK CP-19 2013-12 PURCHASE 2014-08   1,870 1,298     572  
    PNC-P N C FIN SVCS GR-2469.57 2014-02 PURCHASE 2014-08   2,470 2,470        
    PG-PROCTER & GAMBLE CO-5 2009-07 PURCHASE 2013-10   381 279     102  
    PG-PROCTER & GAMBLE CO-5 2009-11 PURCHASE 2013-10   381 305     76  
    PG-PROCTER & GAMBLE CO-11 2010-02 PURCHASE 2013-10   837 672     165  
    CVX-CHEVRON CP-13 2009-01 PURCHASE 2013-10   1,524 936     588  
    CVX-CHEVRON CP-7 2009-03 PURCHASE 2013-10   820 401     419  
    CVX-CHEVRON CP-3 2009-07 PURCHASE 2013-10   352 200     152  
    MRK-MERCK CO INC-10 2009-12 PURCHASE 2013-10   466 377     89  
    MRK-MERCK CO INC-21 2010-08 PURCHASE 2013-10   979 736     243  
    MRK-MERCK CO INC-6 2010-09 PURCHASE 2013-10   280 218     62  
    MRK-MERCK CO INC-21 2012-07 PURCHASE 2013-10   979 896     83  
    HAL-HALLIBURTON COMPANY-27 2012-08 PURCHASE 2013-12   1,401 928     473  
    HAINX-HARBOR INTERNATIONAL FUND INST 2009-08 PURCHASE 2013-12   6,100 4,366     1,734  
    BA-BOEING COMPANY-4 2012-08 PURCHASE 2013-12   536 299     237  
    BA-BOEING COMPANY-13 2012-08 PURCHASE 2013-12   1,740 977     763  
    CVX-CHEVRON CP-5 2009-07 PURCHASE 2013-12   620 334     286  
    CVX-CHEVRON CP-23 2009-07 PURCHASE 2013-12   2,850 1,568     1,282  
    CB-CHUBB CP-20 2010-11 PURCHASE 2013-12   1,888 1,166     722  
    CSCO-CISCO SYSTEMS INC-36 2011-10 PURCHASE 2013-12   762 615     147  
    CSCO-CISCO SYSTEMS INC-77 2012-02 PURCHASE 2013-12   1,630 1,557     73  
    CSCO-CISCO SYSTEMS INC-4 2012-10 PURCHASE 2013-12   85 74     11  
    C-CITIGROUP INC-4.5 2010-03 PURCHASE 2013-12   233 179     54  
    C-CITIGROUP INC-38.8 2010-04 PURCHASE 2013-12   2,011 1,895     116  
    C-CITIGROUP INC-24.5 2010-08 PURCHASE 2013-12   1,270 1,026     244  
    C-CITIGROUP INC-4.2 2010-09 PURCHASE 2013-12   218 168     50  
    CCE-COCA-COLA ENTERPRISES-36 2011-12 PURCHASE 2013-12   1,512 946     566  
    CMCSA-COMCAST CP-9 2010-01 PURCHASE 2013-12   445 153     292  
    CMCSA-COMCAST CP-10 2010-09 PURCHASE 2013-12   494 178     316  
    CMCSA-COMCAST CP-12 2011-10 PURCHASE 2013-12   593 283     310  
    COO-COOPER COMPANIES-19 2012-02 PURCHASE 2013-12   2,356 1,410     946  
    DIS-WALT DISNEY COMPANY (THE)-10 2012-06 PURCHASE 2013-12   715 444     271  
    DIS-WALT DISNEY COMPANY (THE)-14 2012-07 PURCHASE 2013-12   1,002 674     328  
    DFS-DISCOVER FINANCIAL SERVICES-34 2011-03 PURCHASE 2013-12   1,809 822     987  
    DFS-DISCOVER FINANCIAL SERVICES-17 2011-06 PURCHASE 2013-12   905 442     463  
    XOM-EXXON MOBIL CP-48 2012-07 PURCHASE 2013-12   4,601 4,001     600  
    FITB-FIFTH THIRD BANCORP-96 2012-08 PURCHASE 2013-12   1,953 1,373     580  
    BEN-FRANKLIN RESOURCES INC.-31 2011-05 PURCHASE 2013-12   1,706 1,297     409  
    GE-GENERAL ELECTRIC CO-43 2009-06 PURCHASE 2013-12   1,170 577     593  
    GE-GENERAL ELECTRIC CO-56 2009-07 PURCHASE 2013-12   1,523 711     812  
    GE-GENERAL ELECTRIC CO-24 2010-02 PURCHASE 2013-12   653 390     263  
    GE-GENERAL ELECTRIC CO-29 2010-05 PURCHASE 2013-12   789 559     230  
    GS/PC-GOLDMAN SACHS PFD-15 2012-10 PURCHASE 2013-12   2,554 1,810     744  
    HAL-HALLIBURTON COMPANY-27 2012-08 PURCHASE 2013-12   1,334 928     406  
    INTC-INTEL CP-50 2011-06 PURCHASE 2013-12   1,240 1,071     169  
    ICE-INTERCONTINENTALEXCHANGE-10 2011-11 PURCHASE 2013-12   2,168 1,255     913  
    JPM-JP MORGAN CHASE & CO-10 2009-01 PURCHASE 2013-12   568 251     317  
    JPM-JP MORGAN CHASE & CO-3 2009-03 PURCHASE 2013-12   170 72     98  
    JPM-JP MORGAN CHASE & CO-22 2008-10 PURCHASE 2013-12   1,249 1,054     195  
    JPM-JP MORGAN CHASE & CO-24 2009-03 PURCHASE 2013-12   1,363 675     688  
    JPM-JP MORGAN CHASE & CO-20 2009-04 PURCHASE 2013-12   1,135 672     463  
    JPM-JP MORGAN CHASE & CO-10 2009-07 PURCHASE 2013-12   568 379     189  
    JNJ-JOHNSON & JOHNSON INC-26 2011-05 PURCHASE 2013-12   2,453 1,718     735  
    JNJ-JOHNSON & JOHNSON INC-13 2011-09 PURCHASE 2013-12   1,226 851     375  
    MET-METLIFE INC.-49 2012-08 PURCHASE 2013-12   2,544 1,696     848  
    PVH-PHILLIPS-VAN HEUSEN CORP.-9 2012-10 PURCHASE 2013-12   1,186 874     312  
    PFE-PFIZER INC-19 2010-08 PURCHASE 2013-12   596 307     289  
    PFE-PFIZER INC-18 2010-09 PURCHASE 2013-12   564 308     256  
    PFE-PFIZER INC-27 2012-08 PURCHASE 2013-12   847 644     203  
    PG-PROCTER & GAMBLE CO-15 2010-02 PURCHASE 2013-12   1,256 916     340  
    PG-PROCTER & GAMBLE CO-5 2010-09 PURCHASE 2013-12   419 304     115  
    PG-PROCTER & GAMBLE CO-14 2012-12 PURCHASE 2013-12   1,173 977     196  
    UNP-UNION PACIFIC-8 2010-05 PURCHASE 2013-12   1,303 623     680  
    UTX-UNITED TECHNOLOGIES CP-2 2009-01 PURCHASE 2013-12   222 105     117  
    UTX-UNITED TECHNOLOGIES CP-5 2009-07 PURCHASE 2013-12   556 263     293  
    UTX-UNITED TECHNOLOGIES CP-5 2009-08 PURCHASE 2013-12   556 300     256  
    V-VISA INC.-8 2011-08 PURCHASE 2013-12   1,599 684     915  
    WFC-WELLS FARGO & CO-26 2009-01 PURCHASE 2013-12   1,149 639     510  
    WFC-WELLS FARGO & CO-18 2009-04 PURCHASE 2013-12   795 349     446  
    WFC-WELLS FARGO & CO-31 2009-04 PURCHASE 2013-12   1,370 631     739  
    WFC-WELLS FARGO & CO-28 2009-04 PURCHASE 2013-12   1,237 552     685  
    WEC-WISCONSIN ENERGY CP-41 2009-02 PURCHASE 2013-12   1,677 869     808  
    WEC-WISCONSIN ENERGY CP-18 2009-03 PURCHASE 2013-12   736 332     404  
    WYN-WYNDHAM WORLDWIDE CORP-19 2011-06 PURCHASE 2013-12   1,365 633     732  
    COO-COOPER COMPANIES-5 2012-02 PURCHASE 2013-12   607 371     236  
    COO-COOPER COMPANIES-13 2012-09 PURCHASE 2013-12   1,579 1,223     356  
    INTC-INTEL CP-23 2011-06 PURCHASE 2014-01   570 493     77  
    INTC-INTEL CP-24 2011-08 PURCHASE 2014-01   595 520     75  
    C-CITIGROUP INC-1 2010-09 PURCHASE 2014-02   48 40     8  
    C-CITIGROUP INC-25 2012-08 PURCHASE 2014-02   1,201 750     451  
    C-CITIGROUP INC-15 2010-03 PURCHASE 2014-02   720 611     109  
    OCR-OMNICARE INC-19 2012-12 PURCHASE 2014-02   1,163 683     480  
    ICE-INTERCONTINENTALEXCHANGE-4 2011-11 PURCHASE 2014-03   835 502     333  
    ICE-INTERCONTINENTALEXCHANGE-6 2012-06 PURCHASE 2014-03   1,252 759     493  
    GE-GENERAL ELECTRIC CO-21 2010-05 PURCHASE 2014-03   537 405     132  
    PG-PROCTER & GAMBLE CO-7 2012-12 PURCHASE 2014-03   548 488     60  
    PVH-PHILLIPS-VAN HEUSEN CORP.-8 2012-10 PURCHASE 2014-03   933 777     156  
    PG-PROCTER & GAMBLE CO-5 2012-12 PURCHASE 2014-03   397 349     48  
    HP-HELMERICH & PAYNE-1 2013-03 PURCHASE 2014-03   103 64     39  
    CB-CHUBB CP-13 2010-11 PURCHASE 2014-04   1,132 758     374  
    CB-CHUBB CP-5 2011-08 PURCHASE 2014-04   435 304     131  
    HAL-HALLIBURTON COMPANY-26 2012-08 PURCHASE 2014-04   1,539 894     645  
    GS/PC-GOLDMAN SACHS PFD-14 2013-02 PURCHASE 2014-04   2,143 2,117     26  
    FITB-FIFTH THIRD BANCORP-44 2012-08 PURCHASE 2014-05   900 629     271  
    FITB-FIFTH THIRD BANCORP-45 2012-08 PURCHASE 2014-05   920 676     244  
    ECC-CITIGROUP FUNDING INC-10000 2004-06 PURCHASE 2014-05   10,000 9,740     260  
    CVX-CHEVRON CP-6 2010-09 PURCHASE 2014-05   737 471     266  
    CVX-CHEVRON CP-10 2013-03 PURCHASE 2014-05   1,229 1,149     80  
    MET-METLIFE INC.-5 2012-08 PURCHASE 2014-06   282 173     109  
    MET-METLIFE INC.-40 2012-09 PURCHASE 2014-06   2,257 1,440     817  
    MGA-MAGNA INTERNATIONAL-3 2013-06 PURCHASE 2014-07   327 209     118  
    MGA-MAGNA INTERNATIONAL-5 2013-06 PURCHASE 2014-07   547 349     198  
    VZ-VERIZON COMMUNICATIONS-23 2013-05 PURCHASE 2014-07   1,124 1,230     -106  
    WYNN-WYNN RESORTS LIMITED-2 2013-06 PURCHASE 2014-07   409 274     135  
    UTX-UNITED TECHNOLOGIES CP-9 2009-08 PURCHASE 2014-07   978 539     439  
    UTX-UNITED TECHNOLOGIES CP-3 2010-09 PURCHASE 2014-07   326 209     117  
    WYNN-WYNN RESORTS LIMITED-6 2013-06 PURCHASE 2014-08   1,259 823     436  
    BEN-FRANKLIN RESOURCES INC.-10 2011-05 PURCHASE 2014-08   542 418     124  
    BEN-FRANKLIN RESOURCES INC.-18 2012-06 PURCHASE 2014-08   976 635     341  

    TY 2013 InvestmentsCorpBondsSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE BONDS 19,621 22,270

    TY 2013 InvestmentsCorpStockSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CORPORATE STOCKS 459,131 533,345

    TY 2013 InvestmentsGovtObligationsSch
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    US Government Securities - End of Year Book Value:

    63,916
    US Government Securities - End of Year Fair Market Value:

    69,284
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2013 OtherExpensesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    ADVERTISING 21 21 21  
    INSURANCE 900 900 900  
    OFFICE EXPENSE 80 80 80  


    TY 2013 OtherIncomeSchedule2
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CLASS ACTION SUIT PROCEEDS 117   117


    TY 2013 OtherProfessionalFeesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT COUNSELING 2,800 2,800 2,800  


    TY 2013 TaxesSchedule
    Name:
    L FRANKLIN PURNELL FOUNDATION
    C/O WILLIAM SMITH
    EIN: 23-7187899
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL INCOME TAX 202 202 202  
    FOREIGN INCOME TAX 282 282 282