TY 2015 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

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

OMB No. 1545-0052

2015

Open to Public Inspection

For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015

Name of foundation
LOUISE HEAD DUNCAN TR UW

Number and street (or P.O. box number if mail is not delivered to street address)1525 W WT HARRIS BLVD D1114-044
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28262

A Employer identification number

61-6183556

B Telephone number (see instructions)

(855) 739-2922

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$7,728,403J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check Sch. B .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	124,210		124,210
5a	Gross rents............	41,800		41,800	0
b	Net rental income or (loss) 21,290
6a	Net gain or (loss) from sale of assets not on line 10		88,932
b	Gross sales price for all assets on line 6a 172,496
7	Capital gain net income (from Part IV, line 2)...			88,932
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		1,386	226
12	Total. Add lines 1 through 11........	256,328		255,168	0
13	Compensation of officers, directors, trustees, etc.	88,126		52,587		35,539
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		3,121	21		0
19	Depreciation (attach schedule) and depletion...		10,782	10,782
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		13,752	9,752		4,000
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	115,781		73,142	0	39,539
25	Contributions, gifts, grants paid.......	358,040				358,040
26	Total expenses and disbursements. Add lines 24 and 25	473,821		73,142	0	397,579
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-217,493
b	Net investment income (if negative, enter -0-)			182,026
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2015)

Form 990-PF (2015)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	537,260	650,942	650,942
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	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).......	5,875,098	4,070,348	4,638,058
	c	Investments—corporate bonds (attach schedule).......	413,132	813,382	801,246
	11	Investments—land, buildings, and equipment: basis 410,831
		Less: accumulated depreciation (attach schedule) 224,965	196,648	185,866	360,000
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	2	1,086,996	1,278,157
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	7,022,140	6,807,534	7,728,403
	17	Accounts payable and accrued expenses..........
	18	Grants payable..................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	7,022,140	6,807,534
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	7,022,140	6,807,534
	31	Total liabilities and net assets/fund balances (see instructions).	7,022,140	6,807,534

Part III

Analysis of Changes in Net Assets or Fund Balances

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

7,022,140

Enter amount from Part I, line 27a .....................

-217,493

Other increases not included in line 2 (itemize) bullet

3,353

Add lines 1, 2, and 3 ..........................

6,808,000

Decreases not included in line 2 (itemize) bullet

466

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

6,807,534

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	1. JPMORGAN ACCOUNT		2014-01-01	2015-12-31
b	1. JPMORGAN ACCOUNT		2015-01-01	2015-12-31
c	CAPITAL GAIN DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	129,472		129,472
b		83,564	-83,564
c			43,024
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			129,472
b			-83,564
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	88,932
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2014	404,972	8,139,459	0.049754
2013	366,468	7,906,511	0.04635
2012	359,356	7,471,590	0.048096
2011	318,391	7,575,312	0.04203
2010	379,822	7,434,742	0.051087

Total of line 1, column (d) .....................

20.237317

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 . . .

0.047463

Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....

8,104,049

Multiply line 4 by line 3......................

384,642

Enter 1% of net investment income (1% of Part I, line 27b)...........

1,820

Add lines 5 and 6........................

386,462

Enter qualifying distributions from Part XII, line 4.............

397,579

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)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	1,820
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	1,820
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	1,820
6	Credits/Payments:

a	2015 estimated tax payments and 2014 overpayment credited to 2015	6a	9,104
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	9,104
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	7,284
11	Enter the amount of line 10 to be: Credited to 2015 estimated tax1,820	Refunded	11	5,464

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions

for definition)?.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?

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

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2015)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(855) 789-2922

Located at bullet

1 WEST 4TH STREET D4000-062WINSTONSALEMNC ZIP+4 bullet

27101

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here....... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 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

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see instructions)? ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2015?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2015, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2015?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 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.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?

Form 990-PF (2015)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (Continued)

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? (see instructions)................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (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-)
WELLS FARGO BANK	TRUSTEE 40	70,116
1525 W WT HARRIS BLVD D1114-044 CHARLOTTE,NC28262	TRUSTEE 40	70,116
LANE A RICHIE	ADVISOR 2	6,003
1525 W WT HARRIS BLVD D1114-044 CHARLOTTE,NC28262	ADVISOR 2	6,003
LOUISA M GAINES	ADVISOR 2	6,003
1525 W WT HARRIS BLVD D1114-044 CHARLOTTE,NC28262	ADVISOR 2	6,003
JOSEPH W HALL III	ADVISOR 2	6,004
1525 W WT HARRIS BLVD D1114-044 CHARLOTTE,NC28262	ADVISOR 2	6,004

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









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

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

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

Part IX-A

Summary of Direct Charitable Activities

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


2


3


4

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)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

7,792,241

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

435,220

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

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

8,227,461

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

8,227,461

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

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

123,412

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

8,104,049

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

405,202

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

405,202

Tax on investment income for 2015 from Part VI, line 5......

1,820

Income tax for 2015. (This does not include the tax from Part VI.)...

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

1,820

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

403,382

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

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

403,382

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

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

403,382

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

397,579

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

397,579

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

1,820

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

395,759

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)

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					403,382
2 Undistributed income, if any, as of the end of 2015:
a Enter amount for 2014 only.......				357,131
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2015:
a From 2010......	0
b From 2011......	0
c From 2012......	0
d From 2013......	0
e From 2014......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2015 from Part
XII, line 4: $ 397,579
a Applied to 2014, but not more than line 2a				357,131
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2015 distributable amount.....					40,448
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2015.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2014. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2016. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2015 ..........					362,934
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8Excess distributions carryover from 2010 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2016. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2011....	0
b Excess from 2012....	0
c Excess from 2013....	0
d Excess from 2014....	0
e Excess from 2015....	0

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 section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2015	(b) 2014	(c) 2013	(d) 2012	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:

PEYTON SAMUEL HEAD FAMILY TRUST
1 WEST 4TH ST D4000-062
WINSTONSALEM,NC27101
(855) 739-2922

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

APPLICATION FORM AVAILABLE UPON REQUEST

cAny submission deadlines:

NONE

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

501(C)(3) ORGANIZATIONS BENEFITTING RESIDENTS OF OLDHAM COUNTY, KY

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
OLDHAM COUNTY FISCAL COURT 100 W JEFFERSON ST LAGRANGE,KY40031	NONE	GOV	COURTHOUSE LAWN STATUE	50,000
CITY OF LAGRANGE 307 W JEFFERSON ST LAGRANGE,KY40031	NONE	GOV	SPLASH PARK	27,500
LAGRANGE POLICE DEPT 100 W HARALSON ST LAGRANGE,KY30241	NONE	GOV	BODY WORN CAMERAS	2,500
OPERATION PARENT PO BOX 127 BUCKNER,KY40010	NONE	PC	SCHOOL AND CHURCH	7,500
VETERANS MEMORIAL PARK OF KY PO BOX 46 PEWEE VALLEY,KY40056	NONE	PC	42 ENGRAVED BRICKS TO HONOR	6,100
FRIENDS OF PEWEE VALLEY PO BOX 769 PEWEE VALLEY,KY40056	NONE	PC	LIVE ENTERTAINMENT MUSIC IN	3,000
NORTH OLDHAM LITTLE LEAGUE PO BOX 713 LAGRANGE,KY40031	NONE	PC	QUICK N CRISPY FRYER	3,295
LAGRANGE FIRE PROTECTION DISTRICT 309 N 1ST ST LAGRANGE,KY40031	NONE	PC	THREE GAS DETECTORS	10,000
BOY SCOUTS OF AMERICA PO BOX 36273 LOUISVILLE,KY40233	NONE	PC	CAMPING EQUIP FOR VENTURE	1,000
JUNIOR ACHIEVEMENT OF KENUCKIANA 1401 W MUHAMMED ALI BLVD LOUISVILLE,KY40203	NONE	PC	PROGRAM FOR 3000 OC	5,500
BALLARDSVILLE FIRE DEPT 4600 S HWY 53 CRESTWOOD,KY40014	NONE	PC	OVERHEAD SEVERE WEATHER	17,270
CEDAR LAKE FOUNDATION 9505 WILLIAMSBURG PLAZA STE 200 LOUISVILLE,KY40222	NONE	PC	HOME CONSTRUCTION SYCAMORE	10,000
OLDHAM COUNTY YOUTH SOCCER ASSOC PO BOX 801 CRESTWOOD,KY40014	NONE	PC	COMPLETE AND BUILD NEW	10,000
OLDHAM COUNTY EDUCATIONAL FDN 6165 W HWY 146 CRESTWOOD,KY40014	NONE	PC	CAMP LITERACY LIVE READING	87,075
HUMANE SOCIETY OF OLDHAM COUNTY PO BOX 727 LAGRANGE,KY40031	NONE	PC	CLINIC EXPENSES	15,000
OLDHAM COUNTY HISTORICAL SOCIETY 106N 2ND ST LAGARANGE,KY40031	NONE	PC	GENERAL SUPPORT	50,500
HABITAT FOR HUMANITY PO BOX 446 LAGRANGE,KY40031	NONE	PC	LAGRANGE HOUSE	10,000
GOOD NEWS SHELTER CORP 115 E ADAMS ST LAGRANGE,KY40031	NONE	PC	TRANSITIONAL HOUSING	10,000
ARTS ASSOCIATION OF OLDHAM COUNTY 104 E MAIN ST LAGRANGE,KY40031	NONE	PC	SCHOLARSHIPS 2014 GRANT	15,000
SOUTH OLDHAM FIRE DEPT PO BOX 245 CRESTWOOD,KY40014	NONE	PC	ROPE RESCUE EQUIPMENT	10,000
BIG BROTHERS BIG SISTERS OF KENTUCKIANA-OLDHMA COUNTY 1519 GARDINER LANE LOUISVILLE,KY40218	NONE	PC	OLDHAM COUNTY	4,800
OHIO VALLEY RAILROAD HISTORICAL FOUNDATION 412 E MAIN ST LAGRANGE,KY40031	NONE	PC	BACK UP GENERATOR	2,000
Total ................................. 3a				358,040

bApproved for future payment

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

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	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	124,210
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	21,290
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	88,932
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aTRADE ACCOMODATION			1	19
bEXCISE TAX REFUND			1	1,160
cNET ROYALTY INCOME			14	207
d
e
12 Subtotal. Add columns (b), (d), and (e)..				235,818

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

13235,818

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2015)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2015)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2015 CompensationExplanation

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Person Name	Explanation
WELLS FARGO BANK	TRUSTEE ADMIN FEES
LANE A RICHIE	ADVISOR FEE
LOUISA M GAINES	ADVISOR FEE
JOSEPH W HALL III	ADVISOR FEE

- TIN:

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

TY 2015 DepreciationSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
BUILDING	1950-01-01	360,000	207,000	SL	40	9,000
BUILDING IMPR EXTE	1950-01-01	22,550	5,263	SL	40	564
BUILDING IMPR REMO	1950-01-01	1,125	241	SL	40	28
LAND	1950-01-01	4,516		L
HVAC	1950-01-01	3,975	231	SL	40	99
AC	1950-01-01	3,675	199	SL	40	92
PAVEMENT PARKING L	1950-01-01	14,990	1,249	SL	15	999

- TIN:

TY 2015 InvestmentsCorpBondsSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Name of Bond	End of Year Book Value	End of Year Fair Market Value
JP MORGAN
38147QSY3 GS EAFE REN MAT 2/18	158,400	161,386
4812C0381 JPM CORE	255,126	253,203
258620103 DOUBLELINE TOTL RET	158,006	151,725
921937603 VANGUARD TOT BD MKT	91,850	90,910
47804A130 JOHN HANCOCK	150,000	144,022

- TIN:

TY 2015 InvestmentsCorpStockSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Name of Stock	End of Year Book Value	End of Year Fair Market Value
JPMORGAN
023135106 AMAZON CORP	7,363	12,166
032511107 ANADARKO PETE	3,004	2,138
037833100 APPLE INC	3,724	20,526
00206R102 AT&T	5,276	5,265
Y0486S104 AVAGO TECH LTD	3,296	14,660
060505104 BANK OF AMERICA CORP	5,418	10,620
09062X103 BIOGEN INC	698	4,289
09247X101 BLACKROCK	4,727	4,767
110122108 BRISTOL-MYERS SQUIBB	3,874	6,879
111320107 BROADCOM CORP CL A	2,773	4,221
143658300 CARNIVAL CORP	5,529	5,775
124857202 CBS CIRO CL B	4,366	3,535
151020104 CELGENE CORP	2,925	7,066
166764100 CHEVRON CORP	4,615	5,038
172967424 CITIGROUP INC	5,024	7,866
125896100 CMS ENERGY CORP	3,022	3,139
191216100 COCA-COLA CO	4,750	4,640
192446102 COGNIZANT TECH SOLUT	2,173	1,921
194162103 COLGATE-PALMOLIVE	2,090	2,265
198280109 COLUMBIA PIPELINE	4,429	3,620
20030N101 COMCAST CORP	1,223	4,063
22160K105 COSTCO WHOLESALE	3,496	4,361
228368106 CROWN HOLDINGS	1,658	1,673
126408103 CSX CORP	2,736	2,569
254709108 DISCOVER FINL SVCS	4,372	4,290
25470M109 DISH NETWORK	2,346	3,660
002824100 ABBOTT LABS	4,141	4,177
G1151C101 ACCENTURE PLC	3,561	4,598
H0023R105 ACE LTD	2,804	7,245
00724F101 ADOBE SYSTEMS	1,725	5,073
00817Y108 AETNA INC	4,531	4,757
015351109 ALEXION PHARMACEUTIC	3,189	4,197
G0176J109 ALLEGION PLC	2,740	2,769
G0177J108 ALLERGAN PLC	11,973	13,750
018581108 ALLIANCE DATA	1,587	2,489
02079K107 ALPHABET INC CL C	7,478	15,178
02079K305 ALPHABET INC CL A	2,169	4,668
260543103 DOW CHEMICAL	4,470	4,324
263534109 DU PONT EI DE NEMOUR	4,815	5,395
532457108 ELI LILLY & CO	5,832	5,814
26884L109 EQT CORP	2,810	1,929
30303M102 FACEBOOK INC	9,460	12,455
31620M106 FIDELITY NATL INFO	4,563	4,363
3705V100 GENERAL MOTORS	4,464	5,884
369604103 GENERAL ELECTRIC	7,600	8,909
375558103 GILEAD SCIENCES	4,778	4,452
413086109 HARMAN INTL	4,119	3,957
416515104 HARTFORD FINL SVCS	2,366	3,520
42809H107 HESS CORP	2,196	2,085
437076102 HOME DEPOT	2,872	11,241
438516106 HONEYWELL INTL	4,426	11,289
40434L105 HP INC	2,141	2,084
444859102 HUMANA INC	2,101	5,355
452327109 ILLUMINA INC	3,187	3,071
4812A2389 JPM US LARGE CAP	197,192	249,528
502424104 L-3 COMMUNICATIONS	3,065	2,868
512807108 LAM RESEARCH CORP	5,053	6,751
526107107 LENNOX INTL	3,061	3,123
548661107 LOWES COS	2,593	10,113
571748102 MARSH & MCLENNAN	4,495	5,490
573284106 MARTIN MARIETTA	3,701	3,005
574599106 MASCO CORP	1,679	4,160
57636Q104 MASTERCARD	2,580	9,444
58115Q103 MCKESSON CORP	2,718	2,367
59156R108 METLIFE INC	3,011	5,207
54918104 MICROSOFT CORP	8,986	18,364
60871R209 MOLSON COORS BREWING	4,595	5,541
609207105 MONDELEZ INTL	2,988	5,470
617446448 MORGAN STANELY	7,395	9,098
64122Q309 NEUBERGER BER	117,201	138,468
657473P105 NISOURCE INC	2,476	3,395
N6596X109 NXP SEMICONDUCTORS	4,250	3,370
674599105 OCCIDENTAL PETE	10,659	10,344
693718108 PACCAR INC	2,525	4,029
713448108 PEPSICO INC	5,083	5,296
717081103 PFIZER INC	6,521	6,101
723787107 PIONEER NATL RES	2,700	2,382
742718109 PROCTOR & GAMBLE	4,523	6,115
806857108 SCHLUMBERGER LTD	5,672	5,022
808513105 SCHWAB CORP	4,851	5,433
78462F103 SPDR S&P 500 ETF	1,007,876	1,123,528
854502101 STANLEY BLACK & DECK	2,780	2,775
78486Q101 SVB FINANCIAL GROUP	2,911	2,735
87165B103 SYNCHRONY FINL	2,247	2,828
H84989104 TE CONNECTIVITY LTD	4,011	3,618
887317303 TIME WARNER INC	2,466	8,666
872540109 TJX COMPANIES	2,827	3,546
90130A101 TWENTY-FIRST CENTURY	5,756	4,916
907818108 UNION PACIFIC	2,930	2,502
91324P102 UNITEDHEALTH GROUP	3,525	9,529
910047109 UNITED CONTINENTAL	3,094	4,469
913017109 UNITED TECHNOLOGIES	4,069	6,437
91913Y100 VALERO ENERGY	1,632	1,697
92532F100 VERTEX PHARMACEUTICA	3,232	5,662
92826C839 VISA INC CL A	4,300	4,343
92927K102 WABCO HOLDINGS INC	2,431	1,943
254687106 WALT DISNEY CO	2,209	3,573
949746101 WELLS FARGO	6,719	15,873
464287507 ISHARES CORE S&P MID	509,288	595,732
14042Y601 CAPITAL GR NON US EQ	293,515	301,304
233051200 DEUTSCHE X-TRACKERS	116,554	107,146
256206103 DODGE & COS INTL STO	222,505	287,630
464287465 ISHARES MSCI EAFE IN	290,357	280,975
55273E822 MFS INTL VALUE	162,267	200,094
922042874 VANGUARD FTSE EUROPE	79,557	72,077
115233579 BROWN ADV JAPAN ALPH	140,945	134,920
464288257 ISHARES MSCI ACWI IN	204,303	228,081
46637K513 JPM GLBL RES ENH IND	353,464	374,935

- TIN:

TY 2015 InvestmentsOtherSchedule2

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
JPMORGAN MINERAL INT	AT COST	2	2
092911965 BLACKSTONE PARTNERS	AT COST	500,000	670,110
29446A819 EQUINOX CAMPBELL	AT COST	223,350	217,806
367829884 GATEWAY FD	AT COST	213,644	231,182
475891917 JPM ACCESS MULTI=STR	AT COST	150,000	159,057

- TIN:

TY 2015 OtherDecreasesSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Description	Amount
ROC ADJUSTMENT	460
CAP GAIN POSTING NEXT YR EFF CURR YR	6

- TIN:

TY 2015 OtherExpensesSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
GRANT PROCESSING FEE	4,000	0	4,000
R/E TAX - NON-RENTAL PROPERTY	24	24	0
R/E RENTAL EXPENSES		9,728	0
Rent and Royalty Expense	9,728

- TIN:

TY 2015 OtherIncomeSchedule2

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Description	Revenue And Expenses Per Books	Net Investment Income
TRADE ACCOMODATION	19	19
EXCISE TAX REFUND	1,160	0
NET ROYALTY INCOME	207	207

- TIN:

TY 2015 OtherIncreasesSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Description	Amount
MUT FD INC POSTING CURR YR EFF PRIOR YR	1,061
MISC COST BASIS ADJ	2,288
ROUNDING	4

- TIN:

TY 2015 TaxesSchedule

Name:

LOUISE HEAD DUNCAN TR UW

EIN:

61-6183556

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	21	21		0
FEDERAL TAX PAYMENT - PRIOR YE	3,100	0		0