TY 2014 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.
bullet

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

OMB No. 1545-0052

2014

Open to Public Inspection

For calendar year 2014, or tax year beginning 2014, and ending , 20

Name of foundation
GILLESPIE FAMILY CHARITY TRUST

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 3010 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
RUSSELLVILLE, AR72811

A Employer identification number

71-6145471

B Telephone number (see instructions)

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

$390,382J 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
	Sch. B ...............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities......	10,556		10,556	10,556
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		8,139
b	Gross sales price for all assets on line 6a 274,865
7	Capital gain net income (from Part IV, line 2)...			437
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).......
12	Total. Add lines 1 through 11........	18,695		10,993	10,556
13	Compensation of officers, directors, trustees, etc.	5,373		2,812		2,561
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		475	249		226
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		196	102		94
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	6,044		3,163		2,881
25	Contributions, gifts, grants paid........	17,028				16,000
26	Total expenses and disbursements. Add lines 24 and 25	23,072		3,163		18,881
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-4,377
b	Net investment income (if negative, enter -0-)			7,830
c	Adjusted net income (if negative, enter -0-)...				10,556

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2014)

Form 990-PF (2014)

Page 2

Part II		Balance Sheets	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..........	70,704	22,789	22,786
	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)		25,000	25,004
	b	Investments—corporate stock (attach schedule)........
	c	Investments—corporate bonds (attach schedule)........	122,849	79,578	82,655
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........	193,729	256,493	259,874
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )		63	63
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	387,282	383,923	390,382
	17	Accounts payable and accrued expenses..........	184	155
	18	Grants payable..................		1,028
	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)..........	184	1,183
		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.........	100,000	100,000
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds	287,098	282,740
	30	Total net assets or fund balances (see instructions)......	387,098	382,740
	31	Total liabilities and net assets/fund balances (see instructions)..	387,282	383,923

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	387,098
2	Enter amount from Part I, line 27a.....................	2	-4,377
3	Other increases not included in line 2 (itemize)	3	19
4	Add lines 1, 2, and 3..........................	4	382,740
5	Decreases not included in line 2 (itemize)	5
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	382,740

Form 990-PF (2014)

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
(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)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	437
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

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 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))
2013	17,886	391,715	0.045661
2012	20,157	384,051	0.052485
2011	19,118	389,966	0.049025
2010	22,612	399,423	0.056612
2009	33,722	396,051	0.085146

2	Total of line 1, column (d) ......................	2	0.288929
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	0.057786
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	389,486
5	Multiply line 4 by line 3.......................	5	22,507
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	78
7	Add lines 5 and 6.........................	7	22,585
8	Enter qualifying distributions from Part XII, line 4..............	8	18,881
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 (2014)

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	157
	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
3	Add lines 1 and 2...........................	3	157
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	157
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a
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
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	157
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax	Refunded	11

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 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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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 .

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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?

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

Form 990-PF (2014)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

SIMMONS FIRST TRUST CO Telephone no. bullet

(479) 967-8000

Located at bullet

PO BOX 3010PO BOX 3010RUSSELLVILLEAR ZIP+4 bullet

72811

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 2014, 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 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet

Form 990-PF (2014)

Page 6

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 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 2014?.............

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 2014, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2014?...............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 2014 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 2014.)....................

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 2014?

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 4945(d)(4)(A)? (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 (2014)

Page 7

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
SIMMONS TRUST CO	TRUSTEE 1.00	5,373	0	0
PO BOX 3010 PO BOX 3010 RUSSELLVILLE,AR72811	TRUSTEE 1.00	5,373	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...................

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	PAYMENT OF SCHOLARSHIPS	16,000
2	CONTRIBUTION TO ST JOHNS CATHOLIC CHURCH	1,027
3


4

Form 990-PF (2014)

Page 8

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 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...................

348,672

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

46,745

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

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

395,417

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.........................

395,417

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

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

5,931

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

389,486

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

19,474

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....................

19,474

Tax on investment income for 2014 from Part VI, line 5......

157

Income tax for 2014. (This does not include the tax from Part VI.)...

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

157

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

19,317

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

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

19,317

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

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

19,317

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 ..........

18,881

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

18,881

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..............

18,881

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 (2014)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7			19,317
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2014:
a From 2009.......	4,664
b From 2010.......	2,859
c From 2011.......
d From 2012.......	1,167
e From 2013.......
fTotal of lines 3a through e.........		8,690
4Qualifying distributions for 2014 from Part
XII, line 4: $ 18,881
a Applied to 2013, 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 2014 distributable amount.....			18,881
e Remaining amount distributed out of corpus
5 Excess distributions carryover applied to 2014.		436	436
(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		8,254
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 2013. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2014. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8Excess distributions carryover from 2009 not applied on line 5 or line 7 (see instructions) ...		4,228
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......		4,026
10 Analysis of line 9:
a Excess from 2010....	2,859
b Excess from 2011....
c Excess from 2012....	1,167
d Excess from 2013....
e Excess from 2014....

Form 990-PF (2014)

Page 10

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 2014, enter the date of the ruling....... bullet

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) 2014	(b) 2013	(c) 2012	(d) 2011	(e) Total

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

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 or e-mail address of the person to whom applications should be addressed:

SIMMONS TRUST CO
PO BOX 3010
PO BOX 3010
RUSSELLVILLE,AR72811
(479) 967-8000

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

ACADEMIC ABILITY, FINANCIAL NEED, TWO LETTERS OF CHARACTER REFERENCE, HANDICAPPED STATUS

cAny submission deadlines:

NONE

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

GRADUATED FROM HIGH SCHOOL IN POPE COUNTY, ARKANSAS

Form 990-PF (2014)

Page 11

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
COURTNEY DOTSON RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
RHOUIS ALLEN RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
SARA MADISON RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
HANNAH STEPHENSON RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
SAVANNAH CALLAN RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
KATIE WATKINS RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
ELLIE FAYE SWEEDEN RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
ALLIE GREEN RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
ZOEY ADKINS RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
ASHLEY RAE BAILEY RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
JW MACKEY RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
KARSON LEE RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
JUSTIN WILKINSON RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
DUSTY DUVALL RUSSELLVILLE RUSSELLVILE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
JEFFREY PROCTOR RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
SETH NICHOLS RUSSELLVILLE RUSSELLVILLE RUSSELLVILLE,AR72801	NONE	N/A	SCHOLARSHIP	1,000
Total ................................. 3a				16,000

bApproved for future payment
ST JOHN'S CATHOLIC ST JOHN'S CATHOLIC 1900 W MAIN ST 1900 W MAIN ST RUSSELLVILLE,AR72801	NONE	N/A	CONTRIBUTION	1,028
Total ................................. 3b				1,028

Form 990-PF (2014)

Page 12

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 ............
4 Dividends and interest from securities....			14	10,556
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 .............			14	8,147	-8
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)..				18,703	-8

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

1318,695

(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 (2014)

Page 13

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) 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 (2014)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2014 AccountingFeesSchedule

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	475	249		226

- TIN:

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

TY 2014 GainLossSaleOtherAssetsSch

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Name	Date Acquired	How Acquired	Date Sold	Gross Sales Price	Basis	Total (net)
53.000000 SHARES OF SELECT SECTOR SP	2013-12	PURCHASE	2014-02	4,406	4,600	-194
35 SHARES OF SELECT SECTOR SPDR ENER	2013-08	PURCHASE	2014-02	2,964	2,933	31
16 SHARES OF SELECT SECTOR SPDR ENER	2013-12	PURCHASE	2014-02	1,355	1,389	-34
20000 UNITS OF CME 5.75% 02/15/2014	2013-02	PURCHASE	2014-02	20,000	20,000
8.712 SHARES OF COLUMBIA ACORN INTL-	2013-07	PURCHASE	2014-02	410	387	23
79 SHARES OF SPDR S&P 500 ETF TR UNI	2013-12	PURCHASE	2014-02	14,637	14,424	213
12 SHARES OF SPDR S&P 500 ETF TR UNI	2014-01	PURCHASE	2014-02	2,223	2,197	26
45 SHARES OF SPDR S&P 500 ETF TR UNI	2014-01	PURCHASE	2014-02	8,338	8,235	103
24 SHARES OF SPDR S&P 500 ETF TR UNI	2014-02	PURCHASE	2014-02	4,447	4,367	80
28 SHARES OF SPDR S&P MIDCAP 400 ETF	2013-12	PURCHASE	2014-02	6,988	6,762	226
12 SHARES OF SPDR S&P MIDCAP 400 ETF	2014-01	PURCHASE	2014-02	2,995	2,917	78
10 SHARES OF SPDR S&P MIDCAP 400 ETF	2014-02	PURCHASE	2014-02	2,496	2,302	194
21 SHARES OF ISHARES TR CORE S&P SMA	2013-05	PURCHASE	2014-02	2,299	1,790	509
29 SHARES OF ISHARES TR CORE S&P SMA	2013-12	PURCHASE	2014-02	3,175	3,155	20
18 SHARES OF ISHARES TR CORE S&P SMA	2014-02	PURCHASE	2014-02	1,971	1,832	139
10.000000 SHARES OF VANGUARD MID-CAP	2014-02	PURCHASE	2014-04	1,116	1,139	-23
11 SHARES OF SPDR S&P HOMEBUILDERS E	2013-12	PURCHASE	2014-05	337	362	-25
241.000000 SHARES OF SELECT SECTOR S	2013-12	PURCHASE	2014-05	5,262	5,245	17
13 SHARES OF MARKET VECTORS GOLD MIN	2013-08	PURCHASE	2014-05	286	392	-106
6 SHARES OF MARKET VECTORS GOLD MINE	2013-09	PURCHASE	2014-05	132	171	-39
45 SHARES OF MARKET VECTORS GOLD MIN	2014-03	PURCHASE	2014-05	989	1,184	-195
154 SHARES OF ISHARES 1-3 YEAR TREAS	2013-10	PURCHASE	2014-05	13,027	13,021	6
37.000000 SHARES OF ISHARES IBOXX HI	2013-11	PURCHASE	2014-06	3,507	3,439	68
20 SHARES OF ISHARES IBOXX HIGH YIEL	2013-10	PURCHASE	2014-07	1,892	1,830	62
8 SHARES OF ISHARES IBOXX HIGH YIELD	2013-11	PURCHASE	2014-07	757	744	13
2532.928 SHARES OF PIMCO SHORT TERM	2013-10	PURCHASE	2014-08	25,076	25,000	76
1013.171 SHARES OF PIMCO SHORT TERM	2014-02	PURCHASE	2014-08	10,030	10,000	30
2287.283 SHARES OF FIDELITY INTERMED	2013-10	PURCHASE	2014-08	25,091	25,000	91
915.751 SHARES OF FIDELITY INTERMEDI	2014-02	PURCHASE	2014-08	10,046	10,000	46
11 SHARES OF ISHARES MSCI EAFE SMALL	2014-02	PURCHASE	2014-08	564	575	-11
36 SHARES OF ISHARES IBOXX HIGH YIEL	2013-10	PURCHASE	2014-08	3,388	3,294	94
182.562 SHARES OF VANGUARD DEVELOPED	2014-01	PURCHASE	2014-10	2,308	2,419	-111
20000 UNITS OF PEMBROKE PINES FL COM	2014-09	PURCHASE	2014-10	20,000	20,046	-46
38.000000 SHARES OF VANGUARD SMALL-C	2014-02	PURCHASE	2014-10	4,150	4,307	-157
25 SHARES OF VANGUARD FTSE EMERGING	2014-02	PURCHASE	2014-10	1,024	980	44
48 SHARES OF VANGUARD MID-CAP ETF	2014-02	PURCHASE	2014-10	5,553	5,466	87
19 SHARES OF VANGUARD MID-CAP ETF	2014-05	PURCHASE	2014-10	2,198	2,138	60
11 SHARES OF VANGUARD MID-CAP ETF	2014-05	PURCHASE	2014-10	1,273	1,262	11
18 SHARES OF VANGUARD GROWTH ETF	2014-02	PURCHASE	2014-10	1,763	1,714	49
12 SHARES OF SPDR S & P METALS & MIN	2013-12	PURCHASE	2014-12	393	481	-88
93.901 SHARES OF VANGUARD DEVELOPED	2014-01	PURCHASE	2014-12	1,157	1,244	-87
133 SHARES OF ISHARES S & P 100 ETF	2010-12	PURCHASE	2014-01	10,857	7,565	3,292
103 SHARES OF ISHARES MSCI EAFE ETF	2011-12	PURCHASE	2014-01	6,792	5,068	1,724
72 SHARES OF ISHARES MSCI EAFE ETF	2012-02	PURCHASE	2014-01	4,748	3,854	894
26 SHARES OF VANGUARD FTSE EMERGING	2011-04	PURCHASE	2014-01	986	1,271	-285
5 SHARES OF VANGUARD FTSE EMERGING M	2011-05	PURCHASE	2014-01	190	244	-54
342.46 SHARES OF FEDERATED KAUFMANN	2009-06	PURCHASE	2014-02	2,072	1,318	754
285.593 SHARES OF FEDERATED STRATEGI	2012-12	PURCHASE	2014-02	2,590	2,699	-109
34 SHARES OF ISHARES MSCI EMERGING M	2012-03	PURCHASE	2014-02	1,349	1,503	-154
162.000000 SHARES OF SELECT SECTOR S	2013-03	PURCHASE	2014-04	5,809	4,895	914
79 SHARES OF SPDR S&P HOMEBUILDERS E	2013-04	PURCHASE	2014-05	2,422	2,344	78
42 SHARES OF ISHARES IBOXX HIGH YIEL	2010-02	PURCHASE	2014-08	3,953	3,530	423
70 SHARES OF ISHARES IBOXX HIGH YIEL	2013-05	PURCHASE	2014-08	6,588	6,693	-105
3 SHARES OF VANGUARD FTSE EMERGING M	2011-04	PURCHASE	2014-10	123	147	-24
62 SHARES OF VANGUARD FTSE EUROPE ET	2013-09	PURCHASE	2014-10	3,361	3,425	-64
37.000000 SHARES OF MARKET VECTORS G	2013-08	PURCHASE	2014-11	636	1,115	-479
30 SHARES OF SPDR S & P METALS & MIN	2013-10	PURCHASE	2014-12	983	1,173	-190
30 SHARES OF SPDR S & P METALS & MIN	2013-08	PURCHASE	2014-12	915	1,100	-185
1 SHARES OF SPDR S & P METALS & MINI	2013-10	PURCHASE	2014-12	31	39	-8

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Name of Bond	End of Year Book Value	End of Year Fair Market Value
BANK OF AMERICA 5.75% 8/15/2016	24,938	26,615
ISHARE IBOXX HIGH YIELD CORP BD
MORGAN STANLEY 4.1% 1/26/2015	19,831	20,040
GOLDMAN SACHS GROUP 4.7% 3/15/21	25,000	26,807
CME 5.75% 2/15/14
ISHARS 1-3 YEAR TREASURY FUND
MURPHY OIL CORP 4% 6/1/22	9,809	9,193

- TIN:

TY 2014 InvestmentsGovtObligationsSch

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

US Government Securities - End of Year Book Value:

25,000

US Government Securities - End of Year Fair Market Value:

25,004

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

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

- TIN:

TY 2014 InvestmentsOtherSchedule2

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
FEDERATED KAUFMANN FUND	AT COST
FEDERATED STRATEGIC INC-IS	AT COST
GOLDMAN SACHS STRAT INC-INST	AT COST	35,170	34,398
ISHARES MSCI EAFE INDEX	AT COST
ISHARES MSCI EMERGING MKT	AT COST
ISHARES S&P 100 INDEX FD	AT COST
ISHARS TR CORE S&P SMALL-CAP	AT COST
MARKET VECOTRS GOLD MINERS	AT COST	1,025	625
SELECT SECT SPDR FINANCIAL	AT COST	4,809	5,960
SELECT SECT SPDRENERGY	AT COST
SELECT SPDR TECHNOLOGY	AT COST	4,255	6,202
SPDR HOMEBUILDERS	AT COST
SPDR S&P 500	AT COST
SPDR S&P METALS & MINING	AT COST
SPDR S&P MIDCAP 400	AT COST
VANGUARD FTSE EMERGING MKTS	AT COST	1,809	1,481
VANGUARD FTSE EUROPE	AT COST
COLUMBIA ACORN INTL	AT COST	2,014	1,844
GOLDMAN SACHS N-11 EQUITY	AT COST	584	598
VANGUARD DEVELOPED MKTS	AT COST
FIDELITY INTERMEDIATE BOND FD	AT COST
PIMCO SHORT TERM INST	AT COST
PIMCO SENIOR FLOATING RATE FD	AT COST	5,344	5,139
T ROWE PRICE EMERGING MKTS	AT COST	18,300	17,344
VANGUARD REIT ETF	AT COST	1,147	1,296
VANGUARD MID-CAP ETF	AT COST	5,580	6,054
VANGUARD LARGE-CAP ETF	AT COST	31,712	35,019
VANGUARD SMALL-CAP ETF	AT COST	3,447	3,500
WISDOMTREE EQUITY INCOME FD	AT COST	25,867	27,403
WISDOMTREE JAPAN HEDGED EQUITY FD	AT COST	2,502	2,462
WISDOMTREE EUROPE HEDGED EQUITY FD	AT COST	4,440	4,338
VANGUARD DEVELOPED MARKETS INDEX INS	AT COST	6,094	5,624
FEDERATED INST HIGH YIELD BD FD	AT COST	19,394	18,549
PIMCO FOREIGN BOND FD	AT COST	6,500	6,082
TEMPLETON GLOBAL BD FD	AT COST	6,500	6,176
DISCOVER BANK CD	AT COST	25,000	24,966
DISCOVER BANK GREENWOOD CD	AT COST	20,000	19,815
SYNOVUS BANK GA CD	AT COST	25,000	24,999

- TIN:

TY 2014 OtherAssetsSchedule

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED DIVIDEND RECEIVABLE		63	63

- TIN:

TY 2014 OtherIncreasesSchedule

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Description	Amount

- TIN:

TY 2014 TaxesSchedule

Name:

GILLESPIE FAMILY CHARITY TRUST

EIN: 71-6145471

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
EXCISE TAX	155	81		74
FOREIGN TAXES	41	21		20