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
THE LAURA LEE PATTILLO NORQUIST
CHARITABLE FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)800 SHADES CREEK PARKWAY NO 125 Room/suite

City or town, state or province, country, and ZIP or foreign postal code
BIRMINGHAM, AL35209

A Employer identification number

63-6189797

B Telephone number (see instructions)

(205) 414-3300

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

$10,748,007J 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	(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	1		1
4	Dividends and interest from securities......	200,786		200,786
5a	Gross rents..............	31,179
b	Net rental income or (loss) 31,179
6a	Net gain or (loss) from sale of assets not on line 10		539,768
b	Gross sales price for all assets on line 6a 2,171,419
7	Capital gain net income (from Part IV, line 2)...			539,768
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).......		300,820	300,820
12	Total. Add lines 1 through 11........	1,072,554		1,041,375
13	Compensation of officers, directors, trustees, etc.	80,416		34,208	46,208
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		3,900	1,950	1,950
c	Other professional fees (attach schedule)....		9,416	9,416	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		32,918	32,918	0
19	Depreciation (attach schedule) and depletion...		10,667	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		1,287	0	1,287
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	138,604		78,492	49,445
25	Contributions, gifts, grants paid........	400,000			400,000
26	Total expenses and disbursements. Add lines 24 and 25	538,604		78,492	449,445
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	533,950
b	Net investment income (if negative, enter -0-)			962,883
c	Adjusted net income (if negative, enter -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	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...............	246,442	124,807	124,807
	2	Savings and temporary cash investments..........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........	3,866,741	4,140,775	5,257,121
	c	Investments—corporate bonds (attach schedule)........	2,380,155	2,768,685	2,744,104
	11	Investments—land, buildings, and equipment: basis 2,200,692
		Less: accumulated depreciation (attach schedule)	2,200,692	2,200,692	2,301,975
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........
	14	Land, buildings, and equipment: basis 520,000
		Less: accumulated depreciation (attach schedule) 77,833	452,834	442,167	320,000
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	9,146,864	9,677,126	10,748,007
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue..................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22)..........	0	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted...................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........	0	0
	28	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	29	Retained earnings, accumulated income, endowment, or other funds	9,146,864	9,677,126
	30	Total net assets or fund balances (see instructions)......	9,146,864	9,677,126
	31	Total liabilities and net assets/fund balances (see instructions)..	9,146,864	9,677,126

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	9,146,864
2	Enter amount from Part I, line 27a.....................	2	533,950
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	9,680,814
5	Decreases not included in line 2 (itemize)	5	3,688
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	9,677,126

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
1 a	PUBLICLY TRADED SECURITIES	P
b	CAPITAL GAINS DIVIDENDS	P
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	2,163,080	1,631,651	531,429
b	8,339		8,339
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			531,429
b			8,339
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	539,768
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	473,980	9,373,796	0.050564
2012	422,869	8,941,268	0.047294
2011	422,224	9,103,948	0.046378
2010	324,522	8,702,043	0.037293
2009	23,176	5,925,206	0.003911

2	Total of line 1, column (d) ......................	2	0.185440
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	0.037088
4	Enter the net value of noncharitable-use assets for 2014 from Part X, line 5.....	4	10,202,765
5	Multiply line 4 by line 3.......................	5	378,400
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	9,629
7	Add lines 5 and 6.........................	7	388,029
8	Enter qualifying distributions from Part XII, line 4..............	8	449,445
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	9,629
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	9,629
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	9,629
6	Credits/Payments:

a	2014 estimated tax payments and 2013 overpayment credited to 2014	6a	8,720
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	8,720
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	909
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

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

and Part XV..................................

Yes

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

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

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

Yes

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

or 4942(j)(5) for calendar year 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

THE TRUST COMPANY OF STERNE AGEE I Telephone no. bullet

(205) 949-3511

Located at bullet

800 SHADES CREEK PARKWAY SUITE 125BIRMINGHAMAL ZIP+4 bullet

35209

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
STERNE AGEE TRUST	TRUSTEE 40.00	68,416	0	0
800 SHADES CREEK PARKWAY SUITE 125 BIRMINGHAM,AL35209	TRUSTEE 40.00	68,416	0	0
FRANCES A DANLEY	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0
800 SHADES CREEK PARKWAY SUITE 125 BIRMINGHAM,AL35209	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0
FRANKLIN DANLEY	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0
800 SHADES CREEK PARKWAY SUITE 125 BIRMINGHAM,AL35209	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0
BLAIR SCHOEVOGEL	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0
800 SHADES CREEK PARKWAY SUITE 125 BIRMINGHAM,AL35209	MEMBER OF DISTRIBUTION COM 0.10	4,000	0	0

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









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

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

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

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


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


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

7,861,769

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

154,143

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

2,342,225

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

10,358,137

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

10,358,137

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

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

155,372

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

10,202,765

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

510,138

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

510,138

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

9,629

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

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

9,629

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

500,509

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

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

500,509

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

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

500,509

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 ..........

449,445

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

449,445

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).................

9,629

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

439,816

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	(b) Years prior to 2013	(c) 2013	(d) 2014
1 Distributable amount for 2014 from Part XI, line 7				500,509
2 Undistributed income, if any, as of the end of 2014:
a Enter amount for 2013 only.......			399,718
b Total for prior years:20, 20, 20		0
3 Excess distributions carryover, if any, to 2014:
a From 2009.......
b From 2010.......
c From 2011.......
d From 2012.......
e From 2013.......
fTotal of lines 3a through e.........	0
4Qualifying distributions for 2014 from Part
XII, line 4: $ 449,445
a Applied to 2013, but not more than line 2a				399,718
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.....				49,727
e Remaining amount distributed out of corpus	0
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	0
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 ..........				450,782
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) ...	0
9Excess distributions carryover to 2015. Subtract lines 7 and 8 from line 6a ......	0
10 Analysis of line 9:
a Excess from 2010....
b Excess from 2011....
c Excess from 2012....
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:

FRANCES A DANLEY
800 SHADES CREEK PARKWAY SUITE 125
BIRMINGHAM,AL35209
(205) 414-3300

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

NO FORMS; LETTER TO OUTLINE REQUEST

cAny submission deadlines:

NONE

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

NONE

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
ALABAMA PUBLIC TELEVISION 2112 11TH AVE SOUTH SUITE 400 BIRMINGHAM,AL35205		PUBLIC	HEALTH AND WELFARE	10,000
BIG OAK RANCH PO BOX 507 SPRINGVILLE,AL35146		PUBLIC	HEALTH AND WELFARE	25,000
CAMP RAP A HOPE 2701 AIRPORT BOULEVARD MOBILE,AL36606		PUBLIC	HEALTH AND WELFARE	20,000
COMMUNITY CONNECTIONS 127 WHITES PATH SOUTH YARMOUTH,MA02664		PUBLIC	HEALTH AND WELFARE	5,000
GOVERNMENT STREET PRESBYTERIAN CHURCH 300 GOVERNMENT STREET MOBILE,AL36602		PUBLIC	HEALTH AND WELFARE	15,000
IM SULZBACHER CENTER FOR THE HOMELESS 611 E ADAMS ST JACKSONVILLE,FL32202		PUBLIC	HEALTH AND WELFARE	2,500
MOBILE BAYKEEPER 450-C GOVERNMENT STREET MOBILE,AL36602		PUBLIC	HEALTH AND WELFARE	5,000
MOBILE OPERA INC 257 DAUPHIN STREET MOBILE,AL36602		PUBLIC	HEALTH AND WELFARE	20,000
MOBILE SYMPHONY INC 257 DAUPHIN STREET MOBILE,AL36602		PUBLIC	HEALTH AND WELFARE	20,000
PENELOPE HOUSE PO BOX 9127 MOBILE,AL36691		PUBLIC	HEALTH AND WELFARE	10,000
RONALD MCDONALD HOUSE 1626 SPRINGHILL AVENUE MOBILE,AL36604		PUBLIC	HEALTH AND WELFARE	9,000
ST JUDE'S CHILDRENS HOSPITAL 262 DANNY THOMAS PLACE MEMPHIS,TN38105		PUBLIC	HEALTH AND WELFARE	15,000
USA MITCHELL CANCER INSTITUTE - DANLEY-ALDRIDGE RESEARCH ENDOWMENT 1660 SPRINGHILL AVENUE MOBILE,AL36604		PUBLIC	HEALTH AND WELFARE	125,000
USS ALABAMA BATTLESHIP FOUNDATION PO BOX 65 MOBILE,AL36601		PUBLIC	HEALTH AND WELFARE	10,000
WOUNDED WARRIOR PROJECT 4899 BELFORT ROAD SUITE 300 JACKSONVILLE,FL32256		PUBLIC	HEALTH AND WELFARE	10,000
BARTON ACADEMY FOUNDATION PO BOX 571 MOBILE,AL36601		PUBLIC	EDUCATION	5,000
BIRMINGHAM SOUTHERN COLLEGE 900 ARKADELPHIA RD BIRMINGHAM,AL35254		PUBLIC	EDUCATION	2,500
CAMP MAGICAL MOMENTS 956 RAINEY CREEK RD SWAN VALLEY,ID83449		PUBLIC	HEALTH AND WELFARE	20,000
CAMP SMILE 3058 DAUPHIN SQUARE CONNECTOR MOBILE,AL36607		PUBLIC	HEALTH AND WELFARE	10,000
FOCUS ON EXCELLENCE 7035 PHILIPS HWY STE 36 JACKSONVILLE,FL32216		PUBLIC	EDUCATION	1,500
MANDARIN PRESBYTERIAN CHURCH 11844 MANDARIN RD JACKSONVILLE,FL32223		PUBLIC	COMMUNITY WELFARE	10,000
PROVIDENCE SCHOOL OF JACKSONVILLE 2701 HODGES BLVD JACKSONVILLE,FL32224		PUBLIC	EDUCATION	37,250
UMS WRIGHT PREPARATORY SCHOOL 65 MOBILE ST MOBILE,AL36607		PUBLIC	EDUCATION	12,250
Total ................................. 3a				400,000

bApproved for future payment

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

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 ............			14	1
4 Dividends and interest from securities....			14	200,786
5 Net rental income or (loss) from real estate:
aDebt-financed property......			16	31,179
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....			15	300,820
8 Gain or (loss) from sales of assets other than inventory .............			18	539,768
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		1,072,554	0

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

131,072,554

(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:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	3,900	1,950		1,950

- TIN:

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

TY 2014 DepreciationSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included
LAND	2009-06-15	104,000		L		0	0
BUILDING	2009-06-15	416,000	67,166	SL	39.000000000000	10,667	0

- TIN:

TY 2014 InvestmentsCorpBondsSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Name of Bond	End of Year Book Value	End of Year Fair Market Value
31420C407-FEDERATED INT CORP BD INSTL	87,836	87,285
31428Q101-FEDERATED TOTAL RETURN BD FD	461,442	463,957
880208400-TEMPLETON GLOBAL BOND FD AD	228,880	214,993
922031307-VANGUARD GNMA FUND INV	446,695	443,230
277911491 EATON VANCE FLOATING-RATE FUND CLASS I	439,448	427,427
314082108 FEDERATED ADJUSTABLE RATE SEC FUND INSTL CLASS	720,904	720,690
316389444 FIDELITY ADVISOR REAL ESTATE INCOME FUND	247,851	247,728
78464A359 SPDR BARCLAYS CONVERTIBLE SECURITIES ETF	135,629	138,794

- TIN:

TY 2014 InvestmentsCorpStockSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Name of Stock	End of Year Book Value	End of Year Fair Market Value
00206R102-AT&T INC	54,117	48,269
031162100-AMGEN INC	14,448	47,787
037347309-ANWORTH MORTGAGE ASSET CORP SER B CUM CONV PFD 6.25%	33,600	45,700
037411105-APACHE CORP	45,425	30,708
037833100-APPLE COMPUTER INC	99,947	156,740
088606108-BHP BILLITON LTD ADR	13,947	9,937
099724106-BORG WARNER INC	4,074	12,089
110122108-BRISTOL MYERS SQUIBB CO	34,139	79,691
166764100-CHEVRON CORP	78,247	103,879
191216100-COCA COLA COMPANY	27,730	46,442
20825C104-CONOCOPHILLIPS	44,932	74,585
25179M103-DEVON ENERGY	46,746	44,683
256206103-DODGE & COX FDS INTL STK FD	39,599	59,239
30231G102-EXXON MOBIL CORP	63,063	68,413
345370860-FORD MOTOR CO NEW	34,422	43,555
369604103-GENERAL ELECTRIC COMPANY	112,027	77,326
38259P508-GOOGLE INC CL A	58,538	84,375
437076102-HOME DEPOT INC.	19,616	74,529
458140100-INTEL CORP	33,886	64,596
459200101-INTERNATIONAL BUSINESS MACHINES CORP	25,394	38,506
46625H100-JP MORGAN CHASE & CO	73,813	116,399
478160104-JOHNSON & JOHNSON	36,086	58,559
52106N392-LAZARD EMERGING MKT EQY BLN-INS FD	248,427	240,701
594918104-MICROSOFT CORP	59,737	104,513
641069406-NESTLE S A SPONSORED ADR	33,504	49,923
65339F101-NEXTERA ENERGY INC	34,290	66,963
654106103-NIKE INC CL B	34,339	101,919
670100205-NOVO NORDISK A/S	16,310	66,442
742718109-PROCTER & GAMBLE CO	93,985	143,011
88579Y101-3M CO	31,619	93,662
931422109-WALGREEN CO	25,947	63,882
949746101-WELLS FARGO & CO	178,139	130,472
025676206-AMERICAN EQTY INV HLDG LIFE CO	20,359	42,909
278642103-EBAY INC	36,167	66,222
78463V107-SPDR GOLD TRUST	74,332	67,012
882681109-TEXAS ROADHOUSE, INC.	22,919	42,538
896818101-TRIUMPH GROUP INC NEW	20,850	30,921
002824100 ABBOTT LABORATORIES	16,878	24,311
024061103 AMERICAN AXLE & MFG HOLDINGS INC	34,239	70,255
060505104 BANK OF AMERICA CORP	36,211	59,216
244199105 DEERE & CO	51,856	53,967
254709108 DISCOVER FINANCIAL SERVICES	36,248	60,251
747525103 QUALCOMM INC	71,127	82,506
806857108 SCHLUMBERGER LTD	39,411	49,538
023135106 AMAZON.COM INC	52,152	52,760
105368203 BRANDYWINE RLTY TR SH BEN INT	40,165	48,260
286082102 ELECTRONICS FOR IMAGING INC	50,484	71,526
456837103 ING GROEP NV SPON ADV	40,863	41,504
46429B663 ISHARES HIGH DIVIDEND ETF	40,254	45,924
617446448 MORGAN STANLEY	39,654	49,664
62855J104 MYRIAD GENETICS INC	38,009	50,749
655844108 NORFOLK SOUTHERN CORP	57,060	71,247
685564106 ORBITAL SCIENCES CORP	39,799	46,520
885160101 THOR INDUSTRIES INC	39,708	41,344
921908604 VANGUARD DIVIDEND GROWTH FUND	40,000	46,157
N6596X109 NXP SEMICONDUCTORS NV	40,392	71,816
000375204 ABB LIMITED ADR	45,899	42,512
00766T100 AECOM TECHNOLOGY CORP	40,604	35,837
018805101 ALLIANZ SE(ADR)	45,247	43,544
09062X103 BIOGEN IDEC INC COM	43,458	47,523
23331A109 D R HORTON INC COM	40,409	42,993
27579R104 EAST WEST BANCORP INC	40,744	45,678
29275Y102 ENERSYS	41,157	37,649
294821608 ERICSSON TELEPHONE NEW CL B ADR	40,052	39,083
38141G104 GOLDMAN SACHS GROUP INC	41,545	50,396
45857P509 INTERCONTINENTAL HOTELS SPON ADR	41,213	38,817
477143101 JETBLUE AIRWAYS CORP	40,568	61,220
500643200 KORN/FERRY INTL	39,871	50,330
585055106 MEDTRONIC	41,092	53,428
587200106 MENTOR GRAPHICS CORP	40,461	44,278
604675991 MIRANT CORP ESCROW CUSIP PER BANKRUPTCY FILING	1	1
60687Y109 MIZUHO FINANCIAL GROUP- ADR	40,989	35,530
66987V109 NOVARTIS A G	41,218	47,257
703481101 PATTERSON-UTI ENERGY INC	40,887	20,903
826197501 SIEMENS A G ADR	44,811	37,436
8317M205 SMITH & NEPHEW PLC SPON ADR	42,092	42,251
84652A102 SPARK NEW ZEALAND- SPON ADR	56,393	56,361
855244109 STARBUCKS CORP	41,645	44,307
86562M209 SUMITOMO MITSUI FINANCIAL GRP INC ADR	40,061	35,308
892331307 TOYOTA MOTOR CORP ADR	41,122	43,918
911312106 UNITED PARCEL SERVICE INC CL B	46,735	54,473
918194101 VCA ANTECH INC	41,004	64,864
922908645 VANGUARD MID CAP INDEX FUND ADMIRAL CLASS	183,281	210,924
92826C839 VISA INC CLASS A	42,493	55,062
966837106 WHOLE FOODS MARKET INC	40,927	43,361
984332106 YAHOO INC	41,234	57,076
G5785G107 MALLINCKRODT PLC	3,159	7,625
H89231338 UBS AG NEW ORDINARY SHS	41,173	32,564

- TIN:

TY 2014 LandEtcSchedule2

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND	104,000	0	104,000
BUILDING	416,000	77,833	338,167

- TIN:

TY 2014 OtherDecreasesSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Description	Amount

- TIN:

TY 2014 OtherExpensesSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
INSURANCE	1,168	1,168
ADVERTISING	27	27
OFFICE EXPENSE	92	92

- TIN:

TY 2014 OtherIncomeSchedule2

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
TIMBER ROYALTIES	300,820	300,820	300,820

- TIN:

TY 2014 OtherProfessionalFeesSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	9,416	9,416		0

- TIN:

TY 2014 TaxesSchedule

Name:

THE LAURA LEE PATTILLO NORQUIST

CHARITABLE FOUNDATION

EIN: 63-6189797

Category	Amount	Net Investment Income
REAL ESTATE TAXES	14,067	14,067
FEDERAL ESTIMATED TAXES	8,720	8,720
FOREIGN TAXES	4,085	4,085
FEDERAL INCOME TAX	6,046	6,046