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
Davis Love III Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)c/o HRH CPA 808 Moorefield Park Dr
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Richmond, VA23236
A Employer identification number

20-2920597
B Telephone number (see instructions)

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$3,594,051J 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) 333,566
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 1,226 1,226 1,226
4 Dividends and interest from securities... 14,977 14,977 14,977
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment -88,780
b Gross sales price for all assets on line 6a 634,688
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)....... Click to see attachment 8,903,023    
12 Total. Add lines 1 through 11........ 9,164,012 16,203 16,203
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 383,901      
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 5,699      
b Accounting fees (attach schedule)....... Click to see attachment 18,931      
c Other professional fees (attach schedule).... Click to see attachment 1,861 1,861    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 31,493      
19 Depreciation (attach schedule) and depletion... Click to see attachment 53,454    
20 Occupancy..............        
21 Travel, conferences, and meetings....... 17,595      
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 6,376,428      
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 6,889,362 1,861   0
25 Contributions, gifts, grants paid....... 2,025,989 2,025,989
26 Total expenses and disbursements. Add lines 24 and 25 8,915,351 1,861   2,025,989
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 248,661
b Net investment income (if negative, enter -0-) 14,342
c Adjusted net income (if negative, enter -0-)... 16,203
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............. 41,487 84,727 84,727
2 Savings and temporary cash investments......... 991,892 2,373,149 2,373,149
3 Accounts receivable bullet267,217
Less: allowance for doubtful accounts bullet   185,000 267,217 267,217
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..........   2,800 2,800
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 618,502 627,303 627,303
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet349,435
Less: accumulated depreciation (attach schedule) bullet110,580 238,085 Click to see attachment238,855 238,855
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 2,074,966 3,594,051 3,594,051
Liabilities 17 Accounts payable and accrued expenses.......... 113,470 1,387,877
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) Click to see attachment19,088 Click to see attachment17,714
23 Total liabilities (add lines 17 through 22)......... 132,558 1,405,591
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........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 1,942,408 2,188,460
30 Total net assets or fund balances (see instructions)..... 1,942,408 2,188,460
31 Total liabilities and net assets/fund balances (see instructions). 2,074,966 3,594,051
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
1,942,408
2
Enter amount from Part I, line 27a .....................
2
248,661
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
2,191,069
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
2,609
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
2,188,460
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 Publicly Traded Securities D 2015-05-21 2015-05-28
b Publicly Traded Securities P 2014-01-01 2015-12-31
c Publicly Traded Securities P 2015-12-31 2015-12-31
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 37,391   37,790 -399
b 567,611   569,894 -2,283
c 29,686   30,380 -694
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       -399
b       -2,283
c       -694
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -3,376
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 -1,093
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 876,861 790,146 1.10975
2013 1,031,263 715,697 1.44092
2012 294,321 108,274 2.71830
2011 428,833 96,058 4.46431
2010 758,035 260,658 2.90816
2
Total of line 1, column (d) .....................
212.641437
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
2.528287
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
928,136
5
Multiply line 4 by line 3......................
5
2,346,594
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
143
7
Add lines 5 and 6........................
7
2,346,737
8
Enter qualifying distributions from Part XII, line 4.............
8
2,025,989
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 1 287
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........................... 3 287
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- ..... 5 287
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 37
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 615
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 652
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 365
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet365 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)
    bulletGA
    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 ofbulletThe Company Telephone no.bullet (804) 594-0450

    Located atbulletC/O 808 Moorefield Park Drive 200RichmondVA ZIP+4bullet23236
    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
    Davis M Love III Director
    3.00     		0    
    PO Box 30959
    Sea Island,GA31561
    Robin B Love Director
    3.00     		0    
    PO Box 30959
    Sea Island,GA31561
    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
    John W McKenzie Marketing Director
    50.00     		86,583    
    303 Youngwood Drive
    Saint Simons Island,GA31522
    Scott G Reid Tournament Directr
    50.00     		141,538    
    109 Augusta
    Saint Simons Island,GA31522
    James Stevens Tournament Manager
    40.00     		58,600    
    2512-4 Demere Rd
    St Simons Island,GA31522
    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
    Tony Schuster Company LLC Operations Director 68,000
    4200 Horseshoe Bend
    Waddington,NC28104
    Sharons Rose Promotion 100,000
    401 Commerce St Penthouse
    Nashville,TN37219
    Kirby Rentals Tent Rentals 286,421
    411 Hames Ave
    Orlando,FL32805
    CCI Events Event Coordinator 183,585
    17732 Highland Rd Ste G Box 252
    Baton Rouge,LA70810
    Trotland Group Marketing 57,000
    P O Box 284
    Pineville,NC28134
    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 Not applicable 0
    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
    604,131
    b
    Average of monthly cash balances.......................
    1b
    338,139
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    942,270
    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
    942,270
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    14,134
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    928,136
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    46,407
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    46,407
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    287
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    287
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    46,120
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    46,120
    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
    46,120
    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
    2,025,989
    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
    2,025,989
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    2,025,989
    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 46,120
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 751,585
    b From 2011...... 424,068
    c From 2012...... 288,925
    d From 2013...... 995,630
    e From 2014...... 837,681
    fTotal of lines 3a through e........ 3,297,889
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 2,025,989
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 46,120
    e Remaining amount distributed out of corpus 1,979,869
    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 5,277,758
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		751,585
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		4,526,173
    10 Analysis of line 9:
    a Excess from 2011.... 424,068
    b Excess from 2012.... 288,925
    c Excess from 2013.... 995,630
    d Excess from 2014.... 837,681
    e Excess from 2015.... 1,979,869
    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
    ST Simons Land Trust
    P O Box 24615
    St Simons Island,GA31522     		none exempt Community Assistance 5,000
    Heather House of Glynn Inc
    1119 Old Jessup Pkwy
    Brunswick,GA31525     		none exempt Community Assistance 10,069
    Special Olympics Coastal Georgia
    P O Box 1952
    Brunswick,GA31520     		none exempt Community Assistance 37,500
    Boys & Girls Club of Southeast Georgia
    P O Box 1193
    Brunswick,GA31521     		none exempt Community Assistance 106,371
    Southeast GA Health System
    2415 Parkwood Dr
    Brunswick,GA31520     		none exempt Community Assistance 25,000
    United Way of Coastal Georgia
    P O Box 877
    Brunswick,GA31521     		none exempt Community Assistance 18,986
    CASA Glynn Inc
    P O Box 145
    Brunswick,GA31520     		none exempt Community Assistance 3,860
    The Gathering Place
    P O Box 772
    Brunswick,GA31521     		none exempt Community Assistance 18,893
    Safe Harbor Childrens Shelter Inc
    2215 Glouchester Street
    Brunswick,GA31520     		none exempt Community Assistance 21,553
    American Cancer Society
    Suntrust Bank Sea Island Rd
    St Simons Island,GA31522     		none exempt Community Assistance 500
    Communities in Schools Of Glynn County
    P O Box 2318
    Brunswick,GA31521     		none exempt Community Assistance 34,860
    Hospice of the Golden Isles
    1692 Glynco Pkwy
    Brunswick,GA31525     		none exempt Community Assistance 7,064
    Blessings in a Backpack
    414 Hawkins Island Dr
    St Simons Island,GA31522     		none exempt Community assistance 28,138
    Golden Isles Leadership Foundation
    P O Box 20772
    St Simons Island,GA31522     		none exempt Community assistance 31,444
    Keep Brunswick Golden Isles Beautiful
    P O Box 1493
    Brunswick,GA31521     		none exempt Community assistance 2,000
    College of Golf Fellowship
    5098 Foothills Blvd Unit 138
    Roseville,CA95747     		none exempt Community Assistance 50,000
    Faithbridge Foster Care Inc
    2655 Northwinds Pkwy
    Alpharetta,GA30009     		none exempt Community Assistance 5,000
    United Methodist Church FBO Faithworks
    P O Box 30122
    Sea Island,GA31561     		none exempt Community Assistance 10,000
    Fellowship of Christian Athletes
    8701 Leeds Rd
    Kansas,MO64129     		none exempt Community Assistance 10,000
    Humane Society of South Coastal GA
    4627 US Highway 17 N
    Brunswick,GA31525     		none exempt Community Assistance 10,000
    TA4 Life Foundation
    P O Box 20941
    St Simons Island,GA31522     		none exempt Community Assistance 10,000
    Cystic Fibrosis Foundation
    1500 Forest Ave Ste 124
    Richmond,VA23229     		none EOF Community assistance 7,271
    Girls on the Run of Coastal GA Inc
    401 Eisenhower Dr
    Savannah,GA31410     		none EOF Community assistance 9,635
    Glynn County Sports Hall of Fame
    P O Box 1521
    Brunswick,GA31521     		none EOF Community assistance 5,394
    Special Olympics Inc
    1133 19th St NW
    Washington,DC20036     		none EOF Community assistance 37,500
    Special Olympics Georgia Inc
    P O Box 1952
    Brunswick,GA31521     		none EOF Community assistance 2,946
    1Boy4Change
    145 Myers Hill Rd
    Brunswick,GA31523     		none EOF Community assistance 1,224
    Alzheimers Fndn of Amerca
    322 Eighth Ave 7th Fl
    New York,NY10001     		none EOF Community assistance 1,000
    Alzheimers Disease & Related Disorders
    201 Television Circle
    Savannah,GA31406     		none EOF Community assistance 1,193
    American Cancer Society
    4849 Paulsen St
    Savannah,GA31405     		none EOF Community assistance 2,000
    American Cancer Society
    3011 Hampton Ave
    Brunswick,GA31520     		none EOF Community assistance 3,735
    American Heart Assn
    1035 N Center Point Rd
    Hiawatha,IA52233     		none EOF Community assistance 8,428
    Americas Second Harvest of Coastal GA
    134 Indigo Dr
    Brunswick,GA31525     		none EOF Community assistance 9,317
    ARC Broward
    10250 NW 53rd St
    Sunrise,FL33351     		none EOF Community assistance 19,495
    Best Buddies Wisconsin
    10425 W North Ave 340
    Wauwatsa,WI53226     		none EOF Community assistance 13,203
    Better Basics Inc
    211 Summit Parkway
    Birmingham,AL35209     		none EOF Community assistance 16,429
    Big Brothers Big Sisters of the National
    10210 Greenbelt Rd 900
    Lanham,MD20706     		none EOF Community assistance 6,625
    Big Brothers Big Sisters of Central IL
    404 W Church St
    Champaign,IL61820     		none EOF Community assistance 8,899
    Big Brothers Big Sisters of Central IN
    2960 N Meridian St
    Indianapolis,IN46208     		none EOF Community assistance 9,201
    Big Brothers Big Sisters of The IL
    928 South Spring St
    Springfield,IL62704     		none EOF Community assistance 7,509
    Boy Scouts of America
    133 Ashley Marsh Dr
    Brunswick,GA31523     		none EOF Community assistance 5,000
    Boys & Girls Club of Coastal Carolina
    P O Box 1514
    Moorehead City,NC28557     		none EOF Community assistance 9,551
    Brain ReConnect Inc
    116 Regal Rd
    Brunswick,GA31523     		none EOF Community assistance 12,103
    Brigade Boys Girls Club Inc
    2759 Vance St
    Wilmington,NC28412     		none EOF Community assistance 8,678
    Camaraderie Foundation Inc
    2488 East Michigan St
    Orlando,FL32806     		none EOF Community assistance 23,806
    Castaways Pet Rescue Inc
    11659 GA Hwy 99
    Darien,GA31305     		none EOF Community assistance 3,515
    Cedar Valley United Way
    425 Cedar St Ste 300
    Waterloo,IA50701     		none EOF Community assistance 3,909
    Child Abuse Council
    524 15th St
    Moline,IL61265     		none EOF Community assistance 12,043
    Childrens Musuem Of Houston
    1500 Binz
    Houston,TX77004     		none EOF Community assistance 37,171
    Childrens Specialized Hospital Fndn
    150 New Providence Rd
    Mountainside,NJ07092     		none EOF Community assistance 63,690
    Children in Action Sports Club Inc
    154 Granville Nix Ln
    Brunswick,GA31525     		none EOF Community assistance 7,187
    Childrens Healthcare of ATL Fndn
    1577 Northeast Expressway
    Atlanta,GA30329     		none EOF Community assistance 3,750
    Communities in Schools of Tacoma
    708 South G Street
    Tacoma,WA98405     		none EOF Community assistance 11,665
    Daniel Foundation Daniel Kids
    4203 Southpoint Blvd
    Jacksonville,FL32216     		none EOF Community assistance 5,500
    Daybreak Inc
    605 South Patterson Blvd
    Dayton,OH45402     		none EOF Community assistance 12,304
    Duluth Area Family YMCA
    302 West 1st Street
    Duluth,MN55802     		none EOF Community assistance 7,161
    Elevate Phoenix
    3750 W Indian School Rd
    Phoenix,AZ85019     		none EOF Community assistance 10,000
    Family Tree Inc
    3805 Marshall St
    Wheatridge,CO80033     		none EOF Community assistance 7,041
    Folds of Honor Foundation
    5800 N Patriot Dr
    Owasso,OK74055     		none EOF Community assistance 1,000
    Freestore Foodbank Kids Cafe
    1141 Central Pkwy
    Cincinnati,OH45202     		none EOF Community assistance 10,681
    Georgia Congress of Parents & Teachers
    635 Lanier Blvd
    Brunswick,GA31520     		none EOF Community assistance 1,757
    Georgia Football Club Inc
    C/O 100 Retreat Ave
    St Simons Island,GA31522     		none EOF Community assistance 2,500
    Georgia Junior Golf Fndn Inc
    590 W Crossville Rd
    Roswell,GA30075     		none EOF Community assistance 4,049
    Glynn Academy High School
    1001 Mansfield St
    Brunswick,GA31520     		none EOF Community assistance 625
    Golden Isles Arts & Humanities Assoc
    1530 Newcastle St
    Brunswick,GA31520     		none EOF Community assistance 2,009
    Golden Isles Ballet Company Fndn
    819 Hamilton Landing Dr
    St Simons Island,GA31522     		none EOF Community assistance 5,000
    Golden Isles Girls on the Run
    P O Box 20975
    St Simons Island,GA31522     		none EOF Community assistance 1,067
    Golden Isles Soccer Assoc
    P O Box 21752
    St Simons Island,GA31522     		none EOF Community assistance 2,887
    Goodie Two Shoes Foundation
    10620 Southern Highland
    Las Vegas,NV89141     		none EOF Community assistance 9,786
    Great Rivers United Way Inc
    1855 East Main St
    Onalaska,WI54650     		none EOF Community assistance 5,998
    Greater Chicago Food Depository
    4100 West Ann Lurie Place
    Chicago,IL60632     		none EOF Community assistance 74,751
    Green Chair Project Inc
    1853 Capital Blvd
    Raleigh,NC27604     		none EOF Community assistance 9,981
    GSGA Foundation
    121 Village Pkwy
    Marietta,GA30067     		none EOF Community assistance 1,000
    Habitat for Humanity International Inc
    P O Box 296
    Brunswick,GA31521     		none EOF Community assistance 12,862
    Heart Gallery of America Inc
    1115 Sycamore Ave
    Brunswick,GA31520     		none EOF Community assistance 1,287
    Heart of Illinois Big Brother Big Sister
    2101 Windish Dr 207
    Galesburg,IL61401     		none EOF Community assistance 6,690
    Home of the Sparrow Inc
    5342 W Elm St
    McHemry,IL60050     		none EOF Community assistance 31,540
    Interfaith Housing Coalition
    5600 Ross Ave
    Dallas,TX75206     		none EOF Community assistance 19,178
    Jacobs & Cushman San Diego Food Bank
    9850 Distribution Ave
    San Diego,CA92121     		none EOF Community assistance 11,399
    Jane Boyd Community House
    5400 Kirkwood Blve SW
    Cedar Rapids,IA52404     		none EOF Community assistance 12,565
    Junior Achievement of Greater Miami
    13490 NW 7th Ave Ste 110
    N Miami,FL33168     		none EOF Community assistance 11,618
    Kaitys Way
    P O Box 83494
    Phoenix,AZ85701     		none EOF Community assistance 16,265
    Lee Memorial Health System Foundation
    16451 Health Park Commons Dr
    Ft Myers,FL33908     		none EOF Community assistance 13,010
    Lukes Wings
    1054 31St Street Ste 540
    Washington,DC20007     		none EOF Community assistance 6,981
    Make A Wish Foundation of CT
    126 Monroe Tnpk
    Trumbull,CT06611     		none EOF Community assistance 55,960
    March of Dimes of CT
    500 Winding Brook Dr
    Glastonberry,CT06033     		none EOF Community assistance 14,393
    Minds Matter LA
    19360 Rinaldi St 705
    Porter Ranch,CA91326     		none EOF Community assistance 41,267
    Monday after the Masters Pro-Am Inc
    P O Box 50940
    Columbia,SC29250     		none EOF Community assistance 32,412
    Olive Crest
    2130 E 4th St Ste 200
    Santa Ana,CA92705     		none EOF Community assistance 65,852
    Operation Breakthrough
    3039 Troost Ave
    Kansas City,MO64109     		none EOF Community assistance 23,666
    Our Little Heaven
    P O Box 23010
    St Louis,MO63156     		none EOF Community assistance 4,523
    Quantum House
    901 45th St
    W Palm Beach,FL33407     		none EOF Community assistance 11,192
    Rainier Scholars
    2100 24Th St S Ste 360
    Seattle,WA98144     		none EOF Community assistance 11,541
    Red Terror Football Club
    C/O 100 Retreat Ave
    St Simons Island,GA31522     		none EOF Community assistance 800
    Regional Food Bank of OK
    3355 S Purdue Ave
    Oklahoma City,OK73179     		none EOF Community assistance 8,685
    Ronald McDonald House Charities of IA
    114 Pleasant St
    Des Moines,IA50314     		none EOF Community assistance 10,673
    Ronald McDonald House Charities of C OH
    711 E Livingston Ave
    Columbus,OH43205     		none EOF Community assistance 4,423
    Ronald McDonald House of the Coastal Emp
    4710 Sorochak
    Savannah,GA31404     		none EOF Community assistance 439
    Ronald McDonald House of Cleveland
    10415 Euclid Ave
    Cleveland,OH44106     		none EOF Community assistance 10,718
    Ronald McDonald House of Michiana
    615 N Michigan St 3rd Fl
    South Bend,IN46601     		none EOF Community assistance 7,644
    Saint Simons Christian School Inc
    1060 Cinquina Circle
    St Simons Island,GA31522     		none EOF Community assistance 25,390
    Scholar Match Inc
    849 Valencia Street
    San Francisco,CA94110     		none EOF Community assistance 39,691
    Second Harvest Food Bank of Northwest NC
    3655 Reed St
    Winston Salem,NC27107     		none EOF Community assistance 3,494
    Seton Center
    16840 South Seton ave
    Emmitsburg,MD21727     		none EOF Community assistance 5,595
    Siena Francis House
    1702 Nicholas St
    Omaha,NE68102     		none EOF Community assistance 13,230
    Special Kids Special Love
    610 S Monroe Ct
    Mason City,IA50401     		none EOF Community assistance 12,091
    Special Olympics Illinois
    904 Myrtle Ave
    Dixon,IL61021     		none EOF Community assistance 27,342
    Special Olympics MA
    512 Forest St
    Marlborough,MA01752     		none EOF Community assistance 127,319
    St Baldricks Foundation
    801 Sunnybrook Lane
    Melbourne,FL32940     		none EOF Community assistance 8,451
    St Francis Xavier Catholic School
    1121 Union St
    Brunswick,GA31520     		none EOF Community assistance 4,206
    Sun Valley Ski Education Foundation Inc
    P O Box 203
    Sun Valley,ID83353     		none EOF Community assistance 55,000
    The Child and Family Network Centers
    3700 Wheeler Ave
    Alexandria,VA22304     		none EOF Community assistance 9,932
    The Childrens Hospital of PA
    34th Street and Civic Center
    Philadelphia,PA19104     		none EOF Community assistance 32,520
    The Glynn County Crisis Center Inc
    P O Box 278
    Brunswick,GA31521     		none EOF Community assistance 4,770
    The Methodist Home for Children & Youth
    304 Pierce Avenue
    Macon,GA31204     		none EOF Community assistance 10,000
    TreeHouse Inc
    5666 Lincoln Dr Ste 201
    Minneapolis,MN55436     		none EOF Community assistance 50,922
    United Way
    301 South Brevard St
    Minneapolis,MN55436     		none EOF Community assistance 55,656
    United Way of Central MD
    100 S Charles St 5th FL
    Baltimore,MD21201     		none EOF Community assistance 33,235
    United Way of Dane County
    2059 Atwood Ave
    Madison,WI53704     		none EOF Community assistance 12,064
    United Way of Johnson & Washington Count
    1150 5th Street Ste 290
    Coralville,IA52241     		none EOF Community assistance 14,964
    United Way Tar River Region
    2501 Sunset Ave 1st Floor
    Rocky Mount,NC27804     		none EOF Community assistance 11,640
    Wolfson Childrens Hospital
    841 Prudential Dr Ste 1300
    Jacksonville,FL32207     		none EOF Community assistance 2,500
    Ronald McDonald House of Rochester MN
    850 2nd Street SW
    Rochester,MN55902     		none EOF Community assistance 6,859
    Junior Achievement of South Dakota
    1000 N West Ave Ste 110
    Sioux Falls,SD57104     		none EOF Community assistance 4,806
    Junior Achievement of the Heartland Inc
    800 12th Ave
    Moline,IL61265     		none EOF Community assistance 7,322
    SSPC
    205 Kingsway
    St Simons Island,GA31522     		none EOF Community assistance 5,000
    Total .................................bullet 3a 2,025,989
    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
    aGolf Tournament Revenue         8,903,023
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		    3 1,226  
    4 Dividends and interest from securities....     14 14,977  
    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 ............     		        -88,780
    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)..   16,203 8,814,243
    13Total. Add line 12, columns (b), (d), and (e)..................
    138,830,446
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
    OMB No. 1545-0047
    2015
    Name of the organization
    Davis Love III Foundation
     
    Employer identification number

    20-2920597
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2
    Name of organization
    Davis Love III Foundation
          		Employer identification number
    20-2920597
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    PGA Tour Inc
     

       
    P O Box 1065
     
    Ponte Vedra Beach, FL32004

    		$ 175,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    Christian Brothers Automotive Corp  
    15995 N Barkers Landing 145
     
    Houston, TX77079

    		$ 25,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
     
     

    Jonathan S Linen  
    19 Eggers Ct
     
    Summit, NJ07901

    		$ 18,000


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

    Karish Family Foundation  
    1201 Tower Grove Dr
     
    Beverly Hills, CA90210

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
     
     

    Charles Mangum  
    P O Box 20344
     
    St Simons Island, GA31522

    		$ 15,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
     
     

    David M Beam  
    P O Box 2569
     
    Shelby, NC28150

    		$ 25,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Name of organization
    Davis Love III Foundation
          		Employer identification number
    20-2920597
    Part I
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    7
     
     

    Krispy Kreme Doughnuts  
    370 Knollwood
     
    Winston Salem, NC27104

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    8
     
     

    Davis Love III  
    100 Brunswick Ave
     
    St Simons Island, GA31522

    		$ 37,790


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

       
     
     

    		$  


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

       
     
     

    		$  


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

       
     
     

    		$  


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

       
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 3
    Name of organization
    Davis Love III Foundation
          		Employer identification number

    20-2920597
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
    8
    		 300 Shares Pall Corp $ 37,790  
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    (a)
    No.from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)
    Page 4
    Name of organization
    Davis Love III Foundation
          		Employer identification number

    20-2920597
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No.from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0

    TY 2015 AccountingFeesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting 15,000 0 0 0
    Accounting 3,931 0 0 0

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

    TY 2015 DepreciationSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    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
    Furniture & Fixtures 2010-01-01 196,656 84,486 SL 10.0000 19,666      
    Machinery & Equipment 2010-01-01 70,166 40,606 SL 10.0000 7,017      
    Improvements 2010-01-01 120,121 23,766 SL 40.0000 3,003      

    TY 2015 LandEtcSchedule2
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Furniture and Fixtures 207,341 62,731 144,610 144,610
    Machinery and Equipment 22,659 11,389 11,270 11,270
    Improvements 119,435 36,460 82,975 82,975


    TY 2015 LegalFeesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal 5,699 0 0 0


    TY 2015 OtherExpensesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accomadations 75,458      
    Accounting Services 20,000      
    Auto expense 3,682      
    Bank & Credit Card Fees 42,156      
    Board Committee Expense 6,374      
    Contract Services 101,500      
    Dues & Subscriptions 20,708      
    Employee benefits 15,050      
    Golf Tournament Expenses 5,227,950      
    Insurance 48,341      
    Leased Employees 170,000      
    Meal & Entertainment 30,657      
    Miscellaneous 29,889      
    Office expense 20,077      
    Penalties 2,955      
    Postage 13,932      
    Sales & Marketing 361,683      
    Specail Event expense 14,095      
    Sponsor Gifts 55,683      
    Sponsor Merchandise 59,602      
    Telephone 11,142      
    Ticketing fees 11,830      
    Uniforms 27,725      
    Utilities 3,869      
    Website 2,070      


    TY 2015 OtherIncomeSchedule2
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Golf Tournament Revenue 8,903,023    


    TY 2015 OtherLiabilitiesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Beginning of Year - Book Value End of Year - Book Value
    Payroll withholdings payable 7,350 17,713
    Gift Certificates and credits 11,060  
    Sales Tax payable 678  
    Accrued Payroll liabilities    
    Rounding   1


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment management fees 1,861 1,861 0 0


    TY 2015 TaxesSchedule
    Name:
    Davis Love III Foundation
    EIN:
    20-2920597
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    IRS 364      
    Payroll Taxes 25,653      
    Sales & Use taxes 5,446      
    Secretary of State 30