Form990-PF
Click to see attachment

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
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
Gertrude B & Mortimer May Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)800 S Columbia Street
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Chapel Hill, NC27514
A Employer identification number

62-0963317
B Telephone number (see instructions)

(919) 967-2596
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$1,267,579J Accounting method:
 
(Part I, column (d) must be on cash basis.)
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) 30,000
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 35,390 35,390 35,390
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -4,487
b Gross sales price for all assets on line 6a 113,292
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 60,903 35,390 35,390
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,485 785    
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 392 309    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 7,162 7,162    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 9,039 8,256   0
25 Contributions, gifts, grants paid....... 60,079 60,079
26 Total expenses and disbursements. Add lines 24 and 25 69,118 8,256   60,079
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -8,215
b Net investment income (if negative, enter -0-) 27,134
c Adjusted net income (if negative, enter -0-)... 35,390
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
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 Savings and temporary cash investments......... 116,920 84,874 84,874
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 568,756 Click to see attachment540,177 848,194
c Investments—corporate bonds (attach schedule)....... 237,042 Click to see attachment289,452 290,165
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 49,570 Click to see attachment49,570 44,346
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) 972,288 964,073 1,267,579
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........ 23,242 23,242
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 949,046 940,831
30 Total net assets or fund balances (see instructions)..... 972,288 964,073
31 Total liabilities and net assets/fund balances (see instructions). 972,288 964,073
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
972,288
2
Enter amount from Part I, line 27a .....................
2
-8,215
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
964,073
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
964,073
Form 990-PF (2015)
Form 990-PF (2015)
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 Adobe System bond P 2010-12-17 2015-02-01
b Ntl Oil P 2012-01-20 2015-04-02
c The Southern Company P 2007-05-23 2015-04-23
d Adobe Systems P 2004-11-06 2015-08-05
e Continental Resource P 2013-09-02 2015-08-16
NY State bond P 2015-02-02 2015-10-01
Morgan Stanley P 2006-04-05 2015-10-15
(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 27,000   27,627 -627
b 2,658   3,753 -1,095
c 1,558   1,309 249
d 12,408   4,575 7,833
e 9,668   18,943 -9,275
50,000   51,596 -1,596
10,000   9,976 24
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       -627
b       -1,095
c       249
d       7,833
e       -9,275
      -1,596
      24
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 -4,487
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 -1,596
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))
2014 55,091 1,200,598 0.04589
2013 50,683 1,088,768 0.04655
2012 53,474 1,023,480 0.05225
2011 41,422 950,575 0.04358
2010 5,000 861,468 0.00580
2
Total of line 1, column (d) .....................
20.194064
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
0.038813
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
1,259,868
5
Multiply line 4 by line 3......................
5
48,899
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
271
7
Add lines 5 and 6........................
7
49,170
8
Enter qualifying distributions from Part XII, line 4.............
8
60,079
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 (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 271
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 271
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 271
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a  
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 271
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see 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
 
No
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)
    bulletNC, TN
    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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 addressbulletN/A
    14
    The books are in care ofbulletMrs Barbara Dahl Telephone no.bullet (919) 967-2596

    Located atbullet800 South Columbia StreetChapel HillNC ZIP+4bullet27514
    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 2015, 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  
    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
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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 2015 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 2015.)..................
    3b
     
    No
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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
     
    No
    .........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
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    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
    Barbara Dahl President
    1.00     		0    
    800 S Columbia Street
    Chapel Hill,NC27514
    Bill Dahl SecTreasurer
    1.00     		0    
    800 S Columbia Street
    Chapel Hill,NC27514
    Susan Sharer Vice President
    0.25     		0    
    800 S Columbia
    Chapel Hill,NC27514
    Julia Dahl Vice President
    0.25     		0    
    800 S Columbia Street
    Chapel Hill,NC27514
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 Direct contributions to Charities qualified under 501(c)(3). See listing of contributions under Part XV, Form 990-PF. Provided support for approximately 50 organizations. 60,079
    2  
    3  
    4  
    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  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    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
    1,178,157
    b
    Average of monthly cash balances.......................
    1b
    100,897
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,279,054
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    1,279,054
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    19,186
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,259,868
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    62,993
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    62,993
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    271
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    271
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    62,722
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    62,722
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    62,722
    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
    60,079
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    60,079
    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
    271
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    59,808
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 62,722
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 8,931
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 60,079
    a Applied to 2014, but not more than line 2a 8,931
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 51,148
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2015.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		11,574
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2011....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2015)
    Form 990-PF (2015)
    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
    Duke Lutherans
    1200 W Cornwallis Rd
    Durham,NC27705     		None Public Lutheran student activities 5,000
    Judea Reform Congregation
    1933 W Cornwallis Rd
    Durham,NC27705     		None Public Reform Jewish synagogue supporting the Chapel Hill/ Raleigh/Durham Jewish community 5,000
    St Paul's Lutheran Church
    1200 W Cornwallis Rd
    Durham,NC27705     		None Public support Lutheran church activities and worship 4,000
    Planned Parenthood of Central NC
    PO Box 3258
    Chapel Hill,NC27515     		None Public Prenatal and women's health care 1,000
    YMCA of Greater New York
    5 W 63rd St 6th Fl
    New York,NY10023     		None Public The YMCA of Greater New York is a community service organization which promotes positive values through programs that build spirit, mind and body, welcoming all people, with a focus on youth 1,000
    American Friends of Magen David Ado
    352 7th Ave Ste 400
    New York,NY10001     		None Public Trains volunteer and professional medical responders to provide pre-hospital emergency needs, including medical, disaster, ambulance and blood services 1,000
    Anti-defamation League
    605 3rd Ave
    New York,NY10158     		None Public mission is to stop the defamation of the Jewish people, to secure justice and fair treatment to all citizens alike 1,000
    CAMERA
    PO Box 35040
    Boston,MA02135     		None Public monitors and challenges perceived anti-Israeli news 2,500
    Friends of Israeli Defense Fund
    1430 Broadway
    New York,NY10018     		None Public supports Israeli defense forces 1,000
    JINSA
    1307 New York Ave NW Ste 200
    Washington,DC20005     		None Public Think Tank focusing on issues of the U.S. and Israel 1,000
    Simon Weisenthal Center
    1399 S Roxbury Dr
    Los Angeles,CA90035     		None Public Jewish human rights organization 1,000
    Vassar College
    124 Raymond Avenue
    Poughkeepsie,NY12604     		None Public Highly selective University for undergraduate and graduate education 500
    Yale University
    PO Box 2083
    New Haven,CT06521     		None Public Highly selective University for undergraduate and graduate education 250
    Brooklyn Museum
    200 Eastern Parkway
    Brooklyn,NY11238     		None Public The Museum aims to serve its diverse public as a dynamic, innovative, and welcoming center for learning through the visual arts. 375
    Carolina Performing Arts
    PO Box 209
    Chapel Hill,NC27514     		None Public Support the performing arts at the University of North Carolina 1,000
    WCPE Classical Radio
    PO Box 897
    Wake Forest,NC27588     		None support classical mu Support classical music radio in N. Carolina 1,000
    UNCTV
    10 T W Alexander Dr PO Box 149
    RTP,NC27709     		None Public Public television station in North Carolina 1,000
    American Red Cross
    2025 E St NW
    Washington,DC20006     		None Public Prepare communities for emergencies 1,000
    ASPCA
    PO Box 96929
    Washington,DC20077     		None Public works to rescue animals from abuse, pass humane laws and share resources with shelters nationwide 500
    NAMI
    3803 N Fairfax Dr
    Arlington,VA22203     		None Public nations largest grassroots mental health organization dedicated to building better lives for the millions of Americans affected by mental illness. 2,000
    Navy Marine Corps Relief Society
    875 N Randolph St Ste 225
    Arlington,VA22203     		None Public A private non-profit charitable organization providing financial, educational, and other assistance to members of the Naval Services of the United States. 2,000
    Orange County Animal Shelter
    1601 Eubanks Rd
    Chapel Hill,NC27516     		None Public Provide safe haven and vet care for animals 250
    Salvation Army
    501 Archdale Dr
    Charlotte,NC28217     		None Public to meet human needs - housing and homeless services and disaster relief 1,000
    Toys for Tots
    18251 Quantico Gateway Dr
    Triangle,VA22172     		None Public A program run by the United States Marine Corps Reserve which donates toys to children whose parents cannot afford to buy them gifts for Christmas 500
    Urban Ministries of Durham
    PO Box 249
    Durham,NC27702     		None Public Faith-based agency providing food, clothing, shelter and counseling in Durham, North Carolina. 2,000
    BRIC Arts Media Brooklyn
    45 Main Street
    Brooklyn,NY11201     		None Public Advances access to and understanding of arts and media by presenting free and low-cost programming, and by offering education and other public programs to people of all ages 750
    North Carolina Museum of Art
    4630 Mail Service Center
    Raleigh,NC27699     		None Public Supports museum's art collection and educational programs. 254
    Stanford University
    559 Nathan Abbot Way
    Stanford,CA94305     		None Public Highly selective University for undergraduate and graduate education 500
    NY Metropolitan Museum
    100 5th Ave
    NY,NY10028     		None Public Supports museum's art collection and educational programs. 300
    Brooklyn Academy of Music
    30 Lafayette Ave
    Brooklyn,NY11217     		None Public Home for world renowned programing in theater, dance, music opera and film; showcases the work of emerging artists and innovative modern masters 500
    Washington Institute for Near East
    1828 L Street NW Ste 1050
    Washington,DC20035     		None Public seeks to advance a balanced and realistic understanding of American interests in the Middle East and to promote the policies that secure them 1,000
    American Jewish Committee
    165 E 56th St
    New York,NY10022     		None Public To enhance the well-being of the Jewish people and Israel, and to advance human rights and democratic values around the world. Combating anti-Semitism 500
    Sun Health Research Institute
    14719 W Grand Avenue
    Surprise,AZ85374     		None Public globally recognized research center specializing in the eradication of age-related diseases 3,000
    Stanford Hillel
    565 Mayfield Ave
    Stanford,CA94305     		None Public Provide Reform/Reconstructionist conservative orthodox services to Stanford Students. 4,000
    CAMBA
    1720 Church Ave 2nd FL
    Brooklyn,NY11226     		None   Provides employment, education, health, legal, social, business development & youth services 1,000
    NOEPE Center
    PO Box 1041
    West Tisbury,MA02575     		None   Advance appreciation for literary arts in adults and young people through programs that support expression, education & sharing of writing & literature 3,000
    Orange County Literacy Council
    200 N Greensboro St Ste 302
    Carrboro,NC27510     		None   Provide free literacy instruction to anyone living/working in Orange County for improvment of reading, writing, math and English skills 500
    Project Night Night
    148 Beulah Street
    San Francisco,CA94117     		None   Provide free Night Night packages to homeless children from birth to pre-teen who need essentials(blanket, stuffed animal, books) to feel secure 1,000
    Prospect Park Alliance
    95 Prospect Park West
    Brooklyn,NY11215     		None   Care and preservation of the natural environment of Prospect Park. 3,000
    Benavilla
    16752 N Greasewood St
    Surprise,AZ85378     		None PC Provide continuum of care to promote independence for senior adults & instills sense of dignity & self-empowerment regardless of ability to pay 500
    Art of Cool
    400 W Main 203
    Durham,NC27701     		None EOF Presenting and promoting live jazz. 500
    Cystic Fibrosis Foundation
    7101 Creedmoor 130
    Raleigh,NC27613     		None PC Seeking the means to cure and control cystic fibrosis and to improve the quality of life of those living with the disease. 400
    Friends of Maryland Film Festival
    107 E Read St
    Baltimore,MD21202     		None POF Supports independent film making 1,000
    Jewish Federation of Phoenix
    12701 N Scottsdale Ste 201
    Scottsdale,AZ85254     		None Religous Works to promote general welfare, vitality and cohesiveness of the Jewish community. 1,000
    Jewish Foundation of Nashville
    801 Percy Warner Blvd 102
    Nashville,TN37205     		None EOF Works to promote general welfare, vitality and cohesiveness of the Jewish community. 500
    Total .................................bullet 3a 60,079
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    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 ...........     		         
    4 Dividends and interest from securities....     14 35,390  
    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 ............     		        -4,487
    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)..   35,390 -4,487
    13Total. Add line 12, columns (b), (d), and (e)..................
    1330,903
    (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 (2015)
    Form 990-PF (2015)
    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 organizations?
    Yes
    No
    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 name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Tax and investment tracking 1,485 785 0 0

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Name of Bond End of Year Book Value End of Year Fair Market Value
    Goldman Sachs 5.35% 9,821 10,011
    Morgan Stanley 5.375%    
    Goldman Sachs 5.95% 20,323 21,514
    Chevron 4.95% 20,962 21,778
    Johnston & Johnston 22,014 21,393
    Adobe 4.75% 9,962 10,838
    Adobe 3.25%    
    Credit Suisse 5.4% 20,326 21,902
    Goldman Sachs 7.5% 11,488 11,409
    JP Morgan Chase 4.625% 30,687 32,408
    Chicago Go UTX 5% 16,278 15,152
    Prince George 4.125% 15,615 15,047
    Univ CAL 5.533% 11,210 11,508
    SFLA Water Management 10,753 10,325
    Alamo TX Community College 16,016 15,426
    Chicago Metro Water 15,929 15,284
    Chicago Metro Water 26,457 25,450
    Go UTX NY 10,542 10,468
    Portland Sewer 10,616 10,212
    San Antonio Tx 10,453 10,040

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Adobe Systems 4,145 10,803
    Amdocs 9,535 18,281
    Dentsply 8,891 16,734
    Ecolab 17,767 24,020
    Edwards Lifescience 3,200 23,694
    Idexx 5,261 30,626
    Intuitive Surgical 3,419 54,616
    Nice Systems 25,345 42,417
    Roper 18,562 29,417
    The Southern Company    
    Verizon 1,506 1,849
    American Balanced Funds 98,000 146,639
    American Fund Capital Income 54,000 55,544
    American Fund New Perspective 53,900 72,278
    American Fund New World 42,000 51,217
    Apache Corp 9,963 5,781
    Cerner Corp 19,320 24,670
    National Oil - Varco 34,271 17,080
    Apple 37,420 51,577
    Celgene 56,957 93,413
    Contintental Resources    
    Skyworks Solutions 18,419 55,318
    Varian Medical 18,296 22,220

    TY 2015 InvestmentsOtherSchedule2
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Public Storage Reit FMV 2,104 4,954
    Vanguard Emerging Market FMV 22,466 14,392
    Israel Bonds FMV 25,000 25,000

    TY 2015 OtherExpensesSchedule
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank fees 86 86    
    Investment fees 7,076 7,076    


    TY 2015 TaxesSchedule
    Name:
    Gertrude B & Mortimer May Foundation
    EIN:
    62-0963317
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    State and federal taxes 370 309    
    TN filing fee 22