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.
bulletInformation 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
JOHN B & BROWNIE YOUNG MEMORIAL FUND
 

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2907 - TRUST TAX DEPT   Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WILSON, NC278942907
A Employer identification number

61-6025137
B Telephone number (see instructions)

(270) 689-2551
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$16,700,872J 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).............. 87,853
2 Check bullet
Sch. B ...............
3 Interest on savings and temporary cash investments 11,371 11,371  
4 Dividends and interest from securities...... 404,540 404,540  
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 165,697
b Gross sales price for all assets on line 6a 7,152,579
7 Capital gain net income (from Part IV, line 2)... 165,697
8 Net short-term capital gain......... 0
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)....... 1,472 1,472  
12 Total. Add lines 1 through 11........ 670,933 583,080  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 83,595 41,797   41,797
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... 1,200     1,200
c Other professional fees (attach schedule).... 51,000     51,000
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... 67,945 7,927   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications.......... 1,214 0 0 1,214
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 204,954 49,724 0 95,211
25 Contributions, gifts, grants paid........ 1,067,062 1,067,062
26 Total expenses and disbursements. Add lines 24 and 25 1,272,016 49,724 0 1,162,273
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -601,083
b Net investment income (if negative, enter -0-) 533,356
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2014)
Form 990-PF (2014)
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............... 2,244 5,293 5,293
2 Savings and temporary cash investments.......... 276,514 147,901 147,901
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule) 3,366,494    
b Investments—corporate stock (attach schedule)........ 9,120,877 8,160,805 8,873,326
c Investments—corporate bonds (attach schedule)........ 3,625,608 6,549,829 6,562,446
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)........... 222,491 1,116,453 1,111,906
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) 16,614,228 15,980,281 16,700,872
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...................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds......... 16,614,228 15,980,281
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 instructions)...... 16,614,228 15,980,281
31 Total liabilities and net assets/fund balances (see instructions).. 16,614,228 15,980,281
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 16,614,228
2 Enter amount from Part I, line 27a..................... 2 -601,083
3 Other increases not included in line 2 (itemize) bulletClick to see attachment 3 9,468
4 Add lines 1, 2, and 3.......................... 4 16,022,613
5 Decreases not included in line 2 (itemize) bulletClick to see attachment 5 42,332
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 15,980,281
Form 990-PF (2014)
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.)
1 a 700000. FED NATL MTG ASSN DTD 11/6/03 5.125% 01/   2009-08-21 2014-01-02
b 75000. US TREASURY NOTE DTD 07/15/2011 .625% 07   2013-10-03 2014-01-28
c 800000. FED HOME LOAN MTG CORP DTD 01/30/04 CALLABLE 01/30/07 @ 100 5%     2014-01-30
d 50000. FED HOME LOAN BANK DTD 5/27/04 5.25% 06/   2008-10-23 2014-02-20
e 100000. KEYCORP DTD 08/13/2010 3.75% 08/13/2015     2014-02-28
75000. CONAGRA FOODS INC DTD 01/25/2013 1.9% 01     2014-03-04
440. AGCO CORPORATION COMMON   2013-10-11 2014-03-10
1200. AGCO CORPORATION COMMON   2012-03-13 2014-03-10
120. ALLIANCE DATA SYSTEMS COMMON   2013-10-11 2014-03-10
360. AMERICAN EXPRESS COMPANY   2013-05-28 2014-03-10
1130. FUTUREFUEL CORP COMMON   2013-10-11 2014-03-10
350. HELMERICH & PAYNE INC COMMON   2013-10-11 2014-03-10
540. JOHNSON CONTROLS   2013-10-11 2014-03-10
540. LINCOLN NATL CORP IND   2013-10-11 2014-03-10
1130. MAGNACHIP SEMICONDUCTOR CORP COMMON   2013-10-11 2014-03-10
9909.438 MAINSTAY MARKETFIELD FUND-I     2014-03-10
500. MONSTER BEVERAGE CORP COMMON   2013-05-28 2014-03-10
220. NEXTERA ENERGY, INC. COMMON   2013-10-11 2014-03-10
40. PRICELINE.COM INC COMMON   2012-11-20 2014-03-10
1540. SPDR GOLD TRUST   2013-10-11 2014-03-10
180. TRINITY INDS INC   2013-10-11 2014-03-10
1620. TRINITY INDS INC   2012-03-13 2014-03-10
210. VISA INC CLASS A SHARES COMMON   2013-05-28 2014-03-10
100000. AMERICAN INTERNATIONAL GROUP INC DTD 04/01/06 5.05% 10/01/2015   2007-12-18 2014-03-21
100000. BANK OF AMERICA CORP DTD 7/26/2005 4.75%   2008-04-09 2014-03-21
100000. JPMORGAN CHASE & CO JP MORGAN CHASE & CO DTD 4/24/03 5.25% 05/   2007-12-21 2014-03-21
25000. FED HOME LOAN BANK DTD 5/27/04 5.25% 06/   2008-10-23 2014-03-26
6700.168 PIMCO COMMODITY REAL RETURN STRATEGY INS   2009-11-25 2014-06-06
525000. FED HOME LOAN BANK DTD 5/27/04 5.25% 06/   2008-10-23 2014-06-18
100000. MORGAN STANLEY DTD 10/21/2005 5.375% 10/     2014-06-23
200000. FED NATL MTG ASSN DTD 9/17/04 4.625% 10/   2009-08-28 2014-07-28
75000. BANK OF NOVA SCOTIA DTD 03/29/2011 2.9%     2014-08-07
100000. ENERGY TRANSFER PARTNERS DTD 05/12/2011 CALLABLE 4.65% 06/01/2     2014-08-07
75000. KINDER MORGAN ENER PART DTD 03/14/2012 CALLABLE 3.95% 09/01/202     2014-08-07
100000. METLIFE INC DTD 05/29/09 6.75% 06/01/201     2014-08-07
100000. FED NATL MTG ASSN DTD 9/17/04 4.625% 10/   2009-08-28 2014-09-04
6250. COLUMBIA PROPERTY TRUST INC COMMON   2006-01-30 2014-09-10
310. AETNA INC NEW   2013-10-11 2014-09-19
1580. CHICAGO BRIDGE & IRON CO NV   2013-11-21 2014-09-19
1080. CHICAGO BRIDGE & IRON CO NV     2014-09-19
430. CUMMINS ENGINE CO INC COMMON   2013-05-28 2014-09-19
65. GOOGLE INC CL A     2014-09-19
3030. ISHARES DJ US REAL ESTATE     2014-09-19
110. KNOWLES CORP COMMON   2013-10-11 2014-09-19
300. MAGNA INTL INC COMMON   2013-10-11 2014-09-19
1640. MEADWESTVACO CORP.   2012-03-13 2014-09-19
2940. NEWFIELD EXPL CO COM     2014-09-19
680. NEWFIELD EXPL CO COM   2013-11-21 2014-09-19
240. NORFOLK SOUTHERN CORPORATION   2013-10-11 2014-09-19
2270. SPDR DJ WILSHIRE INTERNATIONAL REAL ESTA   2013-10-11 2014-09-19
1470. URS CORP NEW     2014-09-19
300. VERIZON COMMUNICATIONS INC   2013-10-11 2014-09-19
100000. FED NATL MTG ASSN DTD 9/17/04 4.625% 10/   2009-08-28 2014-10-15
25000. AETNA INC DTD 03/07/2014 2.2% 03/15/2019   2014-03-04 2014-10-17
25000. BNP PARIBAS DTD 12/12/2013 1.25% 12/12/2   2014-01-30 2014-10-17
690. CENTENE CORP   2013-11-21 2014-11-06
1190. CENTENE CORP     2014-11-06
2080. GATX CORP COMMON   2014-09-19 2014-11-06
65. GOOGLE INC CLASS C COMMON     2014-11-06
3040. TRINITY INDS INC   2014-09-19 2014-11-06
3900. AGCO CORPORATION COMMON   2014-11-06 2014-12-01
920. COACH INC     2014-12-01
3580. COACH INC   2014-09-19 2014-12-01
100. INTERNATIONAL BUSINESS MACHINES CORP   2013-10-11 2014-12-01
4995.005 STERLING CAPITAL SECURITIZED OPPORTUNITI   2013-10-03 2014-12-01
1130. TIDEWATER INC COMMON     2014-12-01
2570. TIDEWATER INC COMMON   2014-03-10 2014-12-01
520. TIMKENSTEEL CORP COMMON     2014-12-01
75000. US TREASURY BOND DTD 2/15/2005 4% 02/15/   2014-02-11 2014-12-01
75000. US TREASURY BOND DTD 2/15/2005 4% 02/15/   2013-10-03 2014-12-01
180. WHIRLPOOL CORP   2013-10-11 2014-12-01
1970. PENTAIR PLC   2014-09-19 2014-12-01
760. PENTAIR PLC     2014-12-01
50000. PETROBRAS INTL FIN CO DTD 02/06/2012 3.5     2014-12-16
50000. PETROBRAS INTL FIN CO DTD 02/06/2012 3.5     2014-12-16
CAPITAL GAIN DIVIDENDS P    
(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 700,000   738,315 -38,315
b 75,181   75,305 -124
c 800,000   818,640 -18,640
d 50,836   52,288 -1,452
e 104,272   104,834 -562
74,810   74,211 599
23,370   26,844 -3,474
63,737   60,106 3,631
34,080   26,758 7,322
33,676   27,718 5,958
19,475   20,228 -753
35,082   25,866 9,216
26,193   22,733 3,460
28,183   23,596 4,587
16,734   25,561 -8,827
183,424   154,122 29,302
36,497   27,905 8,592
20,012   18,027 1,985
53,477   25,091 28,386
198,690   188,797 9,893
13,082   8,077 5,005
117,736   55,104 62,632
47,488   37,999 9,489
106,295   97,325 8,970
105,287   100,415 4,872
104,680   98,082 6,598
25,289   26,144 -855
40,000   57,286 -17,286
525,000   525,000  
105,962   105,490 472
201,904   213,370 -11,466
77,751   77,393 358
107,988   103,438 4,550
76,003   73,713 2,290
110,444   110,699 -255
100,504   106,685 -6,181
158,930   187,802 -28,872
25,967   20,269 5,698
97,602   120,580 -22,978
66,716   44,733 21,983
59,023   50,933 8,090
39,031   16,155 22,876
214,340   201,241 13,099
3,458   3,274 184
31,455   25,487 5,968
69,194   45,112 24,082
113,696   93,250 20,446
26,297   20,247 6,050
26,900   18,920 7,980
96,348   97,054 -706
88,334   62,967 25,367
14,973   14,114 859
100,000   106,685 -6,685
25,127   24,975 152
25,063   25,043 20
64,654   39,294 25,360
111,504   55,554 55,950
134,219   133,844 375
35,293   16,115 19,178
104,805   153,474 -48,669
165,839   174,859 -9,020
33,138   51,754 -18,616
128,949   133,727 -4,778
16,167   18,598 -2,431
50,000   49,251 749
33,894   63,131 -29,237
77,086   126,974 -49,888
17,351   16,700 651
75,604   75,000 604
75,604   75,691 -87
33,426   25,211 8,215
122,011   133,167 -11,156
47,070   31,481 15,589
45,442   50,395 -4,953
45,442   50,656 -5,214
      9,485
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       -38,315
b       -124
c       -18,640
d       -1,452
e       -562
      599
      -3,474
      3,631
      7,322
      5,958
      -753
      9,216
      3,460
      4,587
      -8,827
      29,302
      8,592
      1,985
      28,386
      9,893
      5,005
      62,632
      9,489
      8,970
      4,872
      6,598
      -855
      -17,286
       
      472
      -11,466
      358
      4,550
      2,290
      -255
      -6,181
      -28,872
      5,698
      -22,978
      21,983
      8,090
      22,876
      13,099
      184
      5,968
      24,082
      20,446
      6,050
      7,980
      -706
      25,367
      859
      -6,685
      152
      20
      25,360
      55,950
      375
      19,178
      -48,669
      -9,020
      -18,616
      -4,778
      -2,431
      749
      -29,237
      -49,888
      651
      604
      -87
      8,215
      -11,156
      15,589
      -4,953
      -5,214
       
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 2 165,697
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 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 1,013,268 17,210,939 0.058873
2012 1,082,772 16,073,200 0.067365
2011 899,526 16,406,645 0.054827
2010 839,334 15,923,451 0.052711
2009 983,681 14,624,465 0.067263
2 Total of line 1, column (d) ...................... 2 0.301039
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 0.060208
4 Enter the net value of noncharitable-use assets for 2014 from Part X, line 5..... 4 17,219,834
5 Multiply line 4 by line 3....................... 5 1,036,772
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6 5,334
7 Add lines 5 and 6......................... 7 1,042,106
8 Enter qualifying distributions from Part XII, line 4.............. 8 1,162,273
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)
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 Bulletand enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 5,334
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 0
3 Add lines 1 and 2........................... 3 5,334
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,334
6 Credits/Payments:
a 2014 estimated tax payments and 2013 overpayment credited to 2014 6a 29,778
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 29,778
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 0
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 24,444
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet5,336 RefundedBullet 11 19,108
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 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)
    bulletKY
    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 2014 or the taxable year beginning in 2014 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 addressbullet  
    14
    The books are in care ofbulletBRANCH BANKING AND TRUST COMPANY Telephone no.bullet (270) 689-2551
    Located atbullet230 FREDERICA STOWENSBOROKY ZIP+4bullet423013003
    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 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)
    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
    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 instructions)? ........
    1b
     
     
    .........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 2014?.............
    1c
     
    No
    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 2014, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2014?...............
    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
     
    No
    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 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.)....................
    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 2014?
    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 4945(d)(4)(A)? (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 (2014)
    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
    BRANCH BANKING AND TRUST COMPANY TRUSTEE
    5     		83,595    
    230 FREDERICA ST
    OWENSBORO,KY423013003
    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 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    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 (2014)
    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  
    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.)
    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
    17,199,144
    b
    Average of monthly cash balances.......................
    1b
    282,921
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    17,482,065
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    17,482,065
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    262,231
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    17,219,834
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    860,992
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    860,992
    2a
    Tax on investment income for 2014 from Part VI, line 5......
    2a
    5,334
    b
    Income tax for 2014. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,334
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    855,658
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    41,415
    5
    Add lines 3 and 4............................
    5
    897,073
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    897,073
    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
    1,162,273
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,162,273
    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
    5,334
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,156,939
    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)
    Form 990-PF (2014)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2013     		(c)
    2013     		(d)
    2014
    1 Distributable amount for 2014 from Part XI, line 7 897,073
    2 Undistributed income, if any, as of the end of 2014:
    a Enter amount for 2013 only....... 0
    b Total for prior years:2012, 20, 20 0
    3 Excess distributions carryover, if any, to 2014:
    a From 2009....... 261,274
    b From 2010....... 62,797
    c From 2011....... 102,025
    d From 2012....... 224,391
    e From 2013....... 41,036
    fTotal of lines 3a through e......... 691,523
    4Qualifying distributions for 2014 from Part
    XII, line 4: bullet$ 1,162,273
    a Applied to 2013, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions).........     		0
    d Applied to 2014 distributable amount..... 897,073
    e Remaining amount distributed out of corpus 265,200
    5 Excess distributions carryover applied to 2014. 0 0
    (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 5 956,723
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		0
    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......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2013. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    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) .......     		0
    8Excess distributions carryover from 2009 not
    applied on line 5 or line 7 (see instructions) ...     		261,274
    9Excess distributions carryover to 2015.
    Subtract lines 7 and 8 from line 6a ......     		695,449
    10 Analysis of line 9:
    a Excess from 2010.... 62,797
    b Excess from 2011.... 102,025
    c Excess from 2012.... 224,391
    d Excess from 2013.... 41,036
    e Excess from 2014.... 265,200
    Form 990-PF (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 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) 2014 (b) 2013 (c) 2012 (d) 2011
             
    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).)
    NONE
    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.
    NONE
    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:
    BBT WEALTH MGMT DIVISION
    230 FREDERICA ST - MC757-01-04-30
    OWENSBORO,KY423013003
    (270) 689-2551
    bThe form in which applications should be submitted and information and materials they should include:
    COMPLETED APPLICATION ALONG WITH TRANSCRIPT OF GRADES AND ACT/SAT SCORES
    cAny submission deadlines:
    ACADEMIC SCHOOL YEAR
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    UNMARRIED, FULL-TIME STUDENTS LOCATED IN OWENSBORO, KY, DAVIES CO, KY OR MCLEAN CO, KY SCHOOL DISTRICTS
    Form 990-PF (2014)
    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)
    aPaid during the year
    RADFORD UNIVERSITY
    801 EAST MAIN ST
    RADFORD,VA24142     		NONE EXEMPT SCHOLARSHIPS 19,693
    AMERICAN MUSICAL & DRAMATIC ACADEMY
    211 W 51ST ST
    NEW YORK,NY10023     		NONE EXEMPT SCHOLARSHIPS 16,204
    SOUTHERN BAPTIST THEOLOGICAL
    SEMINARY
    2825 LEXINGTON RD
    LOUISVILLE,KY40280     		NONE EXEMPT SCHOLARSHIPS 132
    APPALACHIAN STATE UNIVERSITY
    ASU BOX 32004
    BOONE,NC286082059     		NONE EXEMPT SCHOLARSHIPS 250
    BELLARMINE UNIVERSITY
    2001 NEWBURG RD
    LOUISVILLE,KY40205     		NONE EXEMPT SCHOLARSHIPS 47,894
    DEPAUW UNIVERSITY
    PO BOX 37
    GREENVILLE,IN461350037     		NONE EXEMPT SCHOLARSHIPS 9,898
    SAINT MARY'S COLLEGE
    1928 SAINT MARYS RD
    MORAGA,CA94575     		NONE EXEMPT SCHOLARSHIPS 250
    UNITED STATES NAVAL ACADEMY
    121 BLAKE RD
    ANNAPOLIS,MD21402     		NONE EXEMPT SCHOLARSHIPS 250
    MARY BALDWIN COLLEGE
    PO BOX 1500
    STAUNTON,VA24402     		NONE EXEMPT SCHOLARSHIPS 250
    ASBURY COLLEGE
    1 MACKLEM DR
    WILMORE,KY40390     		NONE EXEMPT SCHOLARSHIPS 848
    BELMONT UNIVERSITY
    1900 BELMONT BLVD
    NASHVILLE,TN37212     		NONE EXEMPT SCHOLARSHIPS 2,660
    BLUEGRASS COMM & TECH COLLEGE
    470 COOPER DR
    LEXINGTON,KY40506     		NONE EXEMPT SCHOLARSHIPS 250
    BRESCIA UNIVERSITY
    717 FREDERICA ST
    OWENSBORO,KY42301     		NONE EXEMPT SCHOLARSHIP 28,804
    CAMPBELLSVILLE UNIVERSIT
    1 UNIVERSITY DR
    CAMPBELLSVILLE,KY42718     		NONE EXEMPT SCHOLARSHIPS 8,438
    CENTRE COLLEGE
    600 WEST WALNUT ST
    DANVILLE,KY40422     		NONE EXEMPT SCHOLARSHIPS 8,776
    EASTERN KENTUCKY UNIVERSITY
    1 PENNINGTON LANE
    CORBIN,KY40701     		NONE EXEMPT SCHOLARSHIPS 12,526
    FRANKLIN COLLEGE
    101 BRANIGIN BLVD
    FRANKLIN,IN46131     		NONE EXEMPT SCHOLARSHIPS 250
    GEORGETOWN COLLEGE
    400 EAST COLLEGE ST
    GEORGETOWN,KY40324     		NONE EXEMPT SCHOLARSHIPS 10,842
    KENTUCKY WESLEYAN COLLEGE
    3000 FREDERICA ST
    OWENSBORO,KY42301     		NONE EXEMPT SCHOLARSHIP 57,964
    LINDSEY WILSON COLLEGE
    210 LINDSEY WILSON ST
    COLUMBIA,KY42728     		NONE EXEMPT SCHOLARSHIPS 1,396
    MADISONVILLE COMMUNITY COLLEGE
    750 LAFFOON ST
    MADISONVILLE,KY42431     		NONE EXEMPT SCHOLARSHIPS 632
    MIDDLE TENNESSEE ST UNIV
    1301 EAST MAIN ST
    MURFREESBORO,TN37132     		NONE EXEMPT SCHOLARSHIPS 4,950
    MOREHEAD STATE UNIVERSITY
    150 UNIVERSITY BLVD
    MOREHEAD,KY40351     		NONE EXEMPT SCHOLARSHIPS 250
    MURRAY STATE UNIVERSITY
    102 CURRIS CENTER
    MURRAY,KY42071     		NONE EXEMPT SCHOLARSHIPS 27,602
    HANOVER COLLEGE
    484 BALL DRIVE
    HANOVER,IN47243     		NONE EXEMPT SCHOLARSHIPS 4,106
    NORTHERN KENTUCKY UNIVERSITY
    NUNN DRIVE
    HIGHLAND HEIGHTS,KY41099     		NONE EXEMPT SCHOLARSHIPS 7,314
    EMORY COLLEGE
    201 DOWMAN DRIVE
    ATLANTA,GA30322     		NONE EXEMPT SCHOLARSHIPS 26,502
    OWENSBORO COMM & TECH COLLEGE
    4800 NEW HARTFORD RD
    OWENSBORO,KY42303     		NONE EXEMPT SCHOLARSHIP 20,542
    PARSONS THE NEW SCHOOL
    72 FIFTH AVE
    NEW YORK,NY10011     		NONE EXEMPT SCHOLARSHIPS 13,212
    PURDUE UNIVERSITY
    475 STADIUM MALL DR
    WEST LAFAYETTE,IN47907     		NONE EXEMPT SCHOLARSHIPS 250
    UNIVERSITY OF NORTH DAKOTA
    264 CENTENNIAL DRIVE STOP 7144
    GRAND FORKS,ND58202     		NONE EXEMPT SCHOLARSHIPS 250
    TRANSYLVANIA UNIVERSITY
    300 N BROADWAY RD
    LEXINGTON,KY40508     		NONE EXEMPT SCHOLARSHIP 5,256
    UNIVERSITY OF EVANSVILLE
    1800 LINCOLN AVE
    EVANSVILLE,IN47714     		NONE EXEMPT SCHOLARSHIPS 922
    UNIVERSITY OF LOUISVILLE
    2301 S 3RD ST
    LOUISVILLE,KY40208     		NONE EXEMPT SCHOLARSHIPS 155,770
    UNIVERSITY OF KENTUCKY
    410 ADMINISTRATION DR
    LEXINGTON,KY40526     		NONE EXEMPT SCHOLARSHIPS 227,965
    UNIVERSITY OF KENT
    UNIVERSITY DR
    CANTERBURY   CT2 7NZ
    UK     		NONE EDUCATIONAL SCHOLARSHIPS 42,496
    SAN JACINTO COLLEGE
    4624 FAIRMONT PARKWAY
    PASADENA,TX77504     		NONE EXEMPT SCHOLARSHIPS 132
    MISSISSIPPI COLLEGE
    200 S CAPITAL ST
    CLINTON,MS39056     		NONE EXEMPT SCHOLARSHIPS 250
    ROBERT MORRIS UNIVERSITY
    6001 UNIVERSITY BLVD
    MOON TOWNSHIP,PA15108     		NONE EXEMPT SCHOLARSHIPS 2,038
    UNIVERSITY OF SOUTHERN INDIANA
    8600 UNIVERSITY BLVD
    EVANSVILLE,IN47712     		NONE EXEMPT SCHOLARSHIPS 24,941
    VANDERBILT UNIVERSITY
    2305 WEST END AVE
    NASHVILLE,TN37203     		NONE EXEMPT SCHOLARSHIPS 6,574
    ROANOKE COLLEGE
    221 COLLEGE LANE
    SALEM,VA24153     		NONE EXEMPT SCHOLARSHIPS 12,226
    WESTERN KENTUCKY UNIVERSITY
    1906 COLLEGE HEIGHTS BLVD
    BOWLING GREEN,KY421011018     		NONE EXEMPT SCHOLARSHIP 144,720
    USF ST PETERSBURG
    140 7TH AVE SOUTH
    ST PETERSBURG,FL33701     		NONE EXEMPT SCHOLARSHIPS 250
    HENDERSON COMMUNITY COLLEGE
    2660 S GREEN STREET
    HENDERSON,KY42420     		NONE EXEMPT SCHOLARSHIP 250
    OWENSBORO CATHOLIC SCHOOL
    1524 W PARRISH AVE
    OWENSBORO,KY42301     		NONE EXEMPT SCHOLARSHIPS 1,000
    DAVIEES COUNTY BOARD OF EDUCATION
    1622 SOUTHEASTERN PARKWAY
    OWENSBORO,KY42303     		NONE EXEMPT SCHOLARSHIPS 1,500
    MCLEAN COUNTY BOARD OF EDUCATION
    283 MAIN ST
    CALHOUN,KY42327     		NONE EXEMPT SCHOLARSHIPS 500
    UNIVERSITY OF ALABAMA
    BOX 870132
    TUSCALOOSA,AL35487     		NONE EXEMPT SCHOLARSHIPS 11,620
    EMBRY-RIDDLE AERONAUTICAL UNIVERSIT
    600 S CLYDE MORRIS BLVD
    DAYTONA BEACH,FL321143900     		NONE EXEMPT SCHOLARSHIPS 25,396
    BOYCE COLLEGE
    2825 LEXINGTON RD
    LOUISVILLE,KY40206     		NONE EXEMPT SCHOLARSHIPS 125
    UNIVERSITY OF CUMBERLANDS
    6174 COLLEGE STATION DR
    WILLIAMSBURG,KY407691372     		NONE EXEMPT SCHOLARSHIPS 6,216
    AUBURN UNIVERSITY
    108 MARY MARTIN HALL
    AUBURN,AL36849     		NONE EXEMPT SCHOLARSHIPS 21,412
    INDIANA UNIVERSITY BLOOMINGTON
    107 SOUTH INDIANA AVE
    BLOOMINGTON,IN47405     		NONE EXEMPT SCHOLARSHIP 250
    OWENSBORO BOARD OF EDUCATION
    1335 WEST ELEVENTH STREET
    OWENSBORO,KY42301     		NONE EXEMPT SCHOLARSHIP 500
    COLGATE UNIVERSITY
    13 OAK DRIVE
    HAMILTON,NY13346     		NONE EXEMPT SCHOLARSHIPS 250
    ILLINOIS INSTITUTE OF TECHNOLOGY
    3300 S FEDERAL STREET
    CHICAGO,IL60616     		NONE EXEMPT SCHOLARSHIPS 5,768
    OHIO STATE UNIVERSITY
    281 W LANE AVENUE
    COLUMBUS,OH43210     		NONE EXEMPT SCHOLARSHIPS 7,414
    UNIVERSITY OF OKLAHOMA
    660 PARRINGTON OVAL
    NORMAN,OK73019     		NONE EXEMPT SCHOLARSHIPS 250
    UNIVERSITY OF PIKEVILLE
    147 SYCAMORE STREET
    PIKEVILLE,KY41501     		NONE EXEMPT SCHOLARSHIPS 27,636
    MIAMI UNIVERSITY
    1320 S DIXIE HWY
    CORAL GABLES,FL33124     		NONE EXEMPT SCHOLARSHIP 250
    Total .................................bullet 3a 1,067,062
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2014)
    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
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ............     		    14 11,371  
    4 Dividends and interest from securities....     14 404,540  
    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 .............     		    18 165,697  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..          
    11 Other revenue: aLITIGATION PROCEED     14 1,472  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   583,080  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13583,080
    (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.)
    Form 990-PF (2014)
    Form 990-PF (2014)
    Page 13
    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) 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 (2014)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2014
    Name of the organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
     
    Employer identification number

    61-6025137
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 2
    Name of organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number

    61-6025137
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    GATES YOUNG TRUST
     

       
    PO BOX 94715
     
    CLEVELAND, OH44101

    		$46,438


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 3
    Name of organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number

    61-6025137
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
    Page 4
    Name of organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number

    61-6025137
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
    that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a) No.
    from
    Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2014 OtherDecreasesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN: 61-6025137
    Description Amount
       
       
       
       


    TY 2014 OtherIncreasesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN: 61-6025137
    Description Amount