Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
Name of foundation
C A CANNON CHAR TRUST NO 3
 
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

58-1360259
B Telephone number (see instructions)

(704) 262-2347
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$18,415,428J 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)  
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 333,543 333,543  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 391,170
b Gross sales price for all assets on line 6a 2,534,254
7 Capital gain net income (from Part IV, line 2)... 391,170
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).......      
12 Total. Add lines 1 through 11........ 724,713 724,713  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 148,566 103,051   45,515
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 7,922 0 0 7,922
b Accounting fees (attach schedule)....... Click to see attachment 1,600 0 0 1,600
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 32,756 7,259   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 11,200 137   11,063
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 202,044 110,447 0 66,100
25 Contributions, gifts, grants paid....... 702,640 702,640
26 Total expenses and disbursements. Add lines 24 and 25 904,684 110,447 0 768,740
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -179,971
b Net investment income (if negative, enter -0-) 614,266
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 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............. 327 552 552
2 Savings and temporary cash investments......... 735,788 268,877 268,877
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,337,618 Click to see attachment1,278,614 1,286,487
b Investments—corporate stock (attach schedule)....... 9,588,930 Click to see attachment9,778,569 15,293,938
c Investments—corporate bonds (attach schedule)....... 1,284,552 Click to see attachment1,427,773 1,433,326
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 139,057 Click to see attachment133,076 132,248
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,086,272 12,887,461 18,415,428
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable..................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........ 13,086,272 12,887,461
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)..... 13,086,272 12,887,461
31 Total liabilities and net assets/fund balances (see instructions). 13,086,272 12,887,461
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
13,086,272
2
Enter amount from Part I, line 27a .....................
2
-179,971
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,716
4
Add lines 1, 2, and 3 ..........................
4
12,908,017
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
20,556
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
12,887,461
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 5000. ACE INA HOLDINGS 5.600% 5/15/15   2008-05-13 2015-05-15
b 30000. BANK OF NOVA SCOTIA 3.400% 1/22/15   2011-09-26 2015-01-22
c .08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-01-05
d .08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-02-04
e .08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-03-04
.05 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-04-01
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-04-01
7.84 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-05-04
.31 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-05-04
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-06-02
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-07-02
.11 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-08-03
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-09-01
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-10-02
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-11-02
.08 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2015-12-03
1000. CVS HEALTH CORPORATION   2011-01-14 2015-06-11
1600. CALIFORNIA RESOURCES CORP   2010-09-17 2015-01-05
2500. THE DIRECTV GROUP HOLDINGS CL A COM   2012-02-08 2015-05-06
2500. THE DIRECTV GROUP HOLDINGS CL A COM   2012-02-08 2015-05-28
7000. DOW CHEMICAL CO/THE 4.250% 11/15/20   2012-03-05 2015-09-15
331.78 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-01-15
407.06 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-02-15
407.8 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-03-15
218.41 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-04-15
264.91 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-05-15
379.95 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-06-15
374.8 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-07-15
391.62 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-08-15
123.25 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-09-15
229.21 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-10-15
254.72 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-11-15
246.41 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2015-12-15
2817.24 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-01-15
46.88 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-02-15
55.6 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-03-15
47.33 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-04-15
47.54 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-05-15
47.74 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-06-15
47.95 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-07-15
48.16 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-08-15
56.89 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-09-15
48.62 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-10-15
48.83 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-11-15
49.05 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2015-12-15
50000. FED HOME LN BK 4.750% 12/16/16   2010-03-01 2015-12-08
487.82 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-01-25
548.82 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-02-25
511.84 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-03-25
507.57 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-04-25
477.36 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-05-25
525.09 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-06-25
494.95 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-07-25
490.82 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-08-25
486.71 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-09-25
482.64 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-10-25
478.6 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-11-25
474.6 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2015-12-25
390.69 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-01-25
214.7 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-02-25
305.01 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-03-25
346.01 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-04-25
609.43 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-05-25
819.77 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-06-25
455.02 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-07-25
308.2 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-08-25
537.39 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-09-25
269.91 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-10-25
482.74 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-11-25
323.78 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2015-12-25
.86 FNMA POOL #649215 6.500% 7/01/32   2002-09-12 2015-01-25
.86 FNMA POOL #649215 6.500% 7/01/32   2002-09-12 2015-02-25
344.35 FNMA POOL #649215 6.500% 7/01/32   2002-09-12 2015-03-25
219.36 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-01-25
267.29 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-02-25
208.61 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-03-25
257.63 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-04-25
245.82 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-05-25
219.9 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-06-25
222.67 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-07-25
199.54 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-08-25
200.41 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-09-25
199.75 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-10-25
217.18 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-11-25
216. FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2015-12-25
3000. GENERAL ELECTRIC CO   2011-01-14 2015-06-11
30000. GOLDMAN SACHS GROUP 2.375% 1/22/18   2013-03-06 2015-04-16
.3726 GOOGLE INC-CL C   2012-02-08 2015-05-06
30000. HSBC FINANCE CORP 5.500% 1/19/16   2012-09-18 2015-08-26
11500. HERTZ GLOBAL HOLDINGS INC   2013-10-01 2015-09-24
10000. METLIFE INC 5.000% 6/15/15   2005-06-20 2015-06-15
15000. MORGAN STANLEY 3.800% 4/29/16   2013-03-04 2015-08-26
1500. NATIONAL OILWELL INC COM   2013-05-13 2015-01-23
3900. NOVARTIS AG - ADR   2010-05-04 2015-08-24
4000. OCCIDENTAL PETE CORP   2010-09-17 2015-08-19
500. PRECISION CASTPARTS CORP   2015-01-23 2015-09-22
30000. QUEBEC PROV CDA 4.600% 5/26/15   2008-03-31 2015-05-26
25000. US TREASURY NOTE 2.375% 8/15/24   2014-09-23 2015-06-02
29000. US TREASURY NOTE 4.750% 8/15/17   2009-06-11 2015-03-19
20000. US TREASURY NOTE 2.625% 4/30/16   2014-12-22 2015-07-29
20000. US TREASURY NOTE 2.625% 4/30/16   2014-12-22 2015-10-29
25000. US TREASURY NOTE 3.250% 5/31/16   2013-10-28 2015-01-21
50000. US TREASURY NOTE 3.250% 5/31/16   2014-06-03 2015-10-29
35000. US TREASURY NOTE 3.250% 5/31/16   2014-06-03 2015-12-08
10000. US TREASURY NOTE 3.000% 2/28/17   2014-11-24 2015-12-08
40000. US TREASURY NOTE 3.000% 2/28/17   2015-06-02 2015-12-08
30000. US TREASURY NOTE 1.250% 10/31/15   2013-11-30 2015-01-29
25000. US TREASURY NOTE 1.250% 10/31/15   2014-06-10 2015-03-19
25000. US TREASURY NOTE 1.250% 10/31/15   2013-09-06 2015-03-19
1800. VALEANT PHARMACEUTICALS   2013-08-12 2015-11-17
20000. VIACOM INC 3.500% 4/01/17   2011-03-24 2015-10-02
1000. YUM BRANDS INC   2009-08-19 2015-03-03
500. LIBERTY LILAC GROUP-C   2014-05-16 2015-08-13
CAPITAL GAIN DIVIDENDS P    
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a 5,000   4,985 15
b 30,000   31,686 -1,686
c        
d        
e        
       
       
8   8  
       
       
       
       
       
       
       
       
102,633   35,085 67,548
7,954   10,688 -2,734
221,580   112,130 109,450
228,612   112,130 116,482
7,518   7,545 -27
332   349 -17
407   428 -21
408   429 -21
218   230 -12
265   279 -14
380   400 -20
375   394 -19
392   412 -20
123   130 -7
229   241 -12
255   268 -13
246   259 -13
2,817   3,045 -228
47   51 -4
56   60 -4
47   51 -4
48   51 -3
48   52 -4
48   52 -4
48   52 -4
57   61 -4
49   53 -4
49   53 -4
49   53 -4
51,978   54,432 -2,454
488   489 -1
549   550 -1
512   513 -1
508   509 -1
477   478 -1
525   526 -1
495   496 -1
491   492 -1
487   488 -1
483   484 -1
479   480 -1
475   476 -1
391   418 -27
215   230 -15
305   327 -22
346   370 -24
609   652 -43
820   878 -58
455   487 -32
308   330 -22
537   575 -38
270   289 -19
483   517 -34
324   347 -23
1   1  
1   1  
344   357 -13
219   238 -19
267   290 -23
209   226 -17
258   279 -21
246   266 -20
220   238 -18
223   241 -18
200   216 -16
200   217 -17
200   217 -17
217   235 -18
216   234 -18
82,168   56,517 25,651
30,645   30,424 221
208   113 95
30,491   33,007 -2,516
195,138   290,924 -95,786
10,000   9,985 15
15,275   15,936 -661
86,182   90,921 -4,739
368,856   187,447 181,409
290,163   295,984 -5,821
114,542   104,153 10,389
30,000   31,519 -1,519
25,314   24,620 694
31,730   31,176 554
20,356   20,589 -233
20,238   20,589 -351
25,990   26,844 -854
50,859   53,335 -2,476
35,440   36,999 -1,559
10,260   10,524 -264
41,041   41,669 -628
30,247   30,505 -258
25,163   25,352 -189
25,163   25,386 -223
129,682   182,996 -53,314
20,502   19,828 674
80,580   34,834 45,746
19,463   20,109 -646
      12,229
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       15
b       -1,686
c        
d        
e        
       
       
       
       
       
       
       
       
       
       
       
      67,548
      -2,734
      109,450
      116,482
      -27
      -17
      -21
      -21
      -12
      -14
      -20
      -19
      -20
      -7
      -12
      -13
      -13
      -228
      -4
      -4
      -4
      -3
      -4
      -4
      -4
      -4
      -4
      -4
      -4
      -2,454
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -27
      -15
      -22
      -24
      -43
      -58
      -32
      -22
      -38
      -19
      -34
      -23
       
       
      -13
      -19
      -23
      -17
      -21
      -20
      -18
      -18
      -16
      -17
      -17
      -18
      -18
      25,651
      221
      95
      -2,516
      -95,786
      15
      -661
      -4,739
      181,409
      -5,821
      10,389
      -1,519
      694
      554
      -233
      -351
      -854
      -2,476
      -1,559
      -264
      -628
      -258
      -189
      -223
      -53,314
      674
      45,746
      -646
       
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 2 391,170
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2014 696,342 19,434,002 0.035831
2013 700,016 19,326,613 0.03622
2012 0 0 0.0
2011 0 0 0.0
2010 0 0 0.0
2
Total of line 1, column (d) .....................
20.072051
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years . . .
3
0.01441
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
20,403,020
5
Multiply line 4 by line 3......................
5
294,008
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
6,143
7
Add lines 5 and 6........................
7
300,151
8
Enter qualifying distributions from Part XII, line 4.............
8
768,740
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 6,143
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 6,143
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 6,143
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 21,206
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 21,206
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 15,063
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet6,144 RefundedBullet 11 8,919
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    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 addressbullet  
    14
    The books are in care ofbulletWELLS FARGO BANK NA Telephone no.bullet (704) 262-2347

    Located atbullet1525 WEST W T HARRIS BLVDCHARLOTTENC ZIP+4bullet28288
    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
     
     
    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
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    Form 990-PF (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
    Wells Fargo Bank NA Co Trustee
    40     		99,598    
    1525 West WT Harris Blvd D1114-044
    Charlotte,NC28288
    Robert C Hayes Co-Trustee
    2     		12,242    
    868 N Church St
    Concord,NC28025
    William C Cannon Jr Co-Trustee
    2     		12,242    
    868 N Church St
    Concord,NC28025
    Joseph C Hunter Co-Trustee
    2     		12,242    
    868 N Church St
    Concord,NC28025
    Edwin Outen Co-Trustee
    2     		12,242    
    868 N Church St
    Concord,NC28025
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1
     
    2  
    3  
    4  
    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
    20,339,907
    b
    Average of monthly cash balances.......................
    1b
    373,819
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    20,713,726
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    20,713,726
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    310,706
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    20,403,020
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,020,151
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,020,151
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    6,143
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    6,143
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,014,008
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,014,008
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,014,008
    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
    768,740
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    768,740
    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
    6,143
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    762,597
    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 1,014,008
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 507,640
    b Total for prior years:2013, 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: bullet$ 768,740
    a Applied to 2014, but not more than line 2a 507,640
    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..... 261,100
    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 ..........     		752,908
    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)
    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
    DAVIDSON COLLEGE
    P O BOX 7162
    DAVIDSON,NC28035     		NONE PC GENERAL 115,000
    QUEENS UNIVERSITY
    1900 SELWYN AVENUE
    CHARLOTTE,NC28274     		NONE PC GENERAL 171,000
    DUKE UNIVERSITY
    SCHOOL OF LAW
    P O BOX 90362
    DURHAM,NC27708     		NONE PC GENERAL 281,640
    CONVERSE COLLEGE
    580 EAST MAIN ST
    Spartanburg,SC29302     		NONE PC SUPPORT 135,000
    Total .................................bullet 3a 702,640
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3
    Interest on savings and temporary cash investments ...........     		         
    4 Dividends and interest from securities....     14 333,543  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 391,170  
    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)..   724,713  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13724,713
    (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:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,600     1,600

    TY 2015 CompensationExplanation
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Person Name Explanation
    Wells Fargo Bank NA 88,433.25 Trustee Fee 11,164.75 Grant Administration

    TY 2015 InvestmentsCorpBondsSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Name of Bond End of Year Book Value End of Year Fair Market Value
    00206RAM4 AT&T INC 34,842 37,965
    00440EAJ6 ACE INA HOLDING 6,995 7,324
    00440EAL1 ACE INA HOLDINGS    
    0258M0DC0 AMERICAN EXPRESS CRE 26,144 25,319
    031162AJ9 AMGEN INC    
    031162BG4 AMGEN INC 15,866 15,797
    04621XAE8 ASSURANT INC 19,988 19,967
    055451AH1 BHP BILLITON FIN USA 4,984 5,508
    055451AL2 BHP BILLITON FIN USA 26,220 23,483
    06051GDY2 BANK OF AMERICA CORP    
    06406HBL2 BANK OF NEW YORK MEL    
    064149A64 BANK OF NOVA SCOTIA    
    06739FGF2 BARCLAYS BANK PLC 37,568 35,898
    12189TBC7 BURLINGTN NORTH SANT 19,965 21,630
    126650BH2 CVS CAREMARK CORP 5,366 5,294
    14912L4E8 CATERPILLAR FINANCIA 10,015 11,459
    172967GG0 CITIGROUP INC    
    191216AU4 COCA-COLA CO/THE 10,143 10,064
    199575AW1 COLUMBUS SOUTHERN PO 9,977 10,862
    20030NBA8 COMCAST CORP 14,985 16,760
    205887BQ4 CONAGRA FOODS INC 9,950 9,945
    209111EP4 CONSOLIDATED EDISON 9,995 10,372
    25243YAN9 DIAGEO PLC    
    25459HAY1 DIRECTV HLDG/FIN INC    
    25468PCV6 WALT DISNEY COMPANY/ 19,736 19,937
    25470DAC3 DISCOVERY COMMUNICAT 20,118 21,264
    25746UBE8 DOMINION RESOURCES 20,039 21,898
    260543CC5 DOW CHEMICAL CO/THE 14,012 13,608
    26138EAM1 DR PEPPER SNAPPLE GR 10,064 10,004
    30219GAF5 EXPRESS SCRIPTS HOLD 26,621 25,680
    36962G3U6 GENERAL ELEC CAP COR 8,893 10,906
    36962G6K5 GENERAL ELEC CAP COR 20,038 20,130
    373334JK8 GEORGIA POWER COMPAN 19,924 21,625
    38141GRC0 GOLDMAN SACHS GROUP    
    402479BX6 GULF POWER CO 14,997 15,553
    40429CFN7 HSBC FINANCE CORP    
    438516AZ9 HONEYWELL INTERNATIO 28,917 27,376
    46625HHL7 JPMORGAN CHASE & CO 31,090 33,639
    501044CG4 KROGER CO. 5,187 5,369
    539473AG3 LLOYDS BANK PLC 36,506 35,054
    544152AF8 LORILLARD TOBACCO CO 25,198 25,195
    59156RAN8 METLIFE INC    
    61747YDD4 MORGAN STANLEY    
    641423BW7 NEVADA POWER CO 9,986 11,098
    655844AZ1 NORFOLK SOUTHERN COR 4,942 5,396
    748148RQ8 QUEBEC PROV CDA    
    78008K5V1 ROYAL BANK OF CANADA 31,876 30,185
    808513AD7 CHARLES SCHWAB CORP 26,361 27,210
    87236YAA6 TD AMERITRADE HOLDIN 19,972 22,285
    882508AW4 TEXAS INSTRUMENTS IN 19,648 18,964
    88732JAL2 TIME WARNER CABLE IN 20,038 21,821
    8935268Y2 TRANS-CANADA PIPELIN 4,999 5,570
    92553PAG7 VIACOM INC    
    931422AH2 WALGREEN CO 10,048 9,684
    961214BK8 WESTPAC BANKING CORP 32,538 32,678
    001055AM4 AFLAC INC 34,962 35,620
    035242AE6 ANHEUSER-BUSCH INBEV 45,387 44,740
    05565QCC0 BP CAPITAL MARKETS 45,187 44,736
    151020AK0 CELGENE CORP 30,491 30,209
    17275RAE2 CISCO SYSTEMS INC 22,356 21,856
    25152RVS9 DEUTSCHE BANK AG LON 30,526 30,224
    25243YAR0 DIAGEO CAPITAL PLC 20,070 19,990
    25459HBE4 DIRECTV HOLDINGS/FIN 25,685 25,201
    539473AH1 GCB LLOYDS TSB BK PL 36,012 35,228
    57772KAB7 MAXIM INTEGRATED PRO 33,817 34,706
    91159HHH6 US BANCORP 30,398 30,220
    037833AK6 APPLE INC 34,203 34,103
    045487AA3 ASSOC BANC-CORP 30,540 29,778
    12572QAG0 CME GROUP INC 30,596 29,432
    38148LAC0 GOLDMAN SACHS GROUP 30,496 29,484
    40414LAL3 HCP INC 19,985 19,385
    404280AL3 HSBC HOLDINGS PLC 27,527 27,423
    458140AJ9 INTEL CORP 21,073 20,716
    55907RAA6 MAGELLAN MIDSTREAM 32,763 29,991
    665859AM6 NORTHERN TRUST CORP 10,416 10,382
    693476BN2 PNC FUNDING CORP 30,613 30,715
    80280JDB4 SANTANDER BANK NA 30,099 29,780
    92343VCR3 VERIZON COMMUNICATIO 29,820 29,631

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Name of Stock End of Year Book Value End of Year Fair Market Value
    025816109 AMERICAN EXPRESS CO 174,497 312,975
    03027X100 AMERICAN TOWER CORP 182,950 436,275
    037411105 APACHE CORP    
    037833100 APPLE INC 248,981 478,933
    084670108 BERKSHIRE HATHAWAY I 401,060 791,200
    126650100 CVS HEALTH CORPORATI 207,342 586,620
    167250109 CHICAGO BRIDGE & IRO 306,645 214,445
    20030N101 COMCAST CORP CLASS A 169,170 620,730
    20825C104 CONOCOPHILLIPS    
    25243Q205 DIAGEO PLC - ADR 157,850 272,675
    25490A309 THE DIRECTV GROUP HO    
    256206103 DODGE & COX INT'L ST 724,929 879,555
    30219G108 EXPRESS SCRIPTS HOLD 276,213 445,791
    30231G102 EXXON MOBIL CORPORAT 141,416 272,825
    31428X106 FEDEX CORPORATION 101,300 297,980
    369604103 GENERAL ELECTRIC CO 162,025 373,800
    38259P508 GOOGLE INC    
    42805T105 HERTZ GLOBAL HOLDING    
    46625H100 JPMORGAN CHASE & CO 158,227 462,210
    478160104 JOHNSON & JOHNSON 248,855 410,880
    52106N889 LAZARD EMERGING MKTS 655,000 499,609
    540424108 LOEWS CORP 192,172 192,000
    59156R108 METLIFE INC 175,724 265,155
    594918104 MICROSOFT CORP 220,695 527,060
    637071101 NATIONAL OILWELL INC    
    641069406 NESTLE S.A. REGISTER 165,378 290,238
    65249B208 NEWS CORP/NEW    
    66987V109 NOVARTIS AG - ADR    
    674599105 OCCIDENTAL PETE CORP    
    713448108 PEPSICO INC    
    747525103 QUALCOMM INC 217,958 299,910
    760759100 REPUBLIC SERVICES IN    
    883556102 THERMO FISHER SCIENT 228,918 581,585
    90130A200 TWENTY-FIRST CENTURY 308,041 408,450
    907818108 UNION PACIFIC CORP 149,608 312,800
    91911K102 VALEANT PHARMACEUTIC    
    92826C839 VISA INC-CLASS A SHR 169,109 744,480
    92857W209 VODAFONE GROUP PLC N    
    931142103 WAL MART STORES INC    
    949746101 WELLS FARGO & CO 255,180 568,062
    988498101 YUM BRANDS INC 68,314 146,100
    13057Q107 CALIFORNIA RESOURCES    
    192446102 COGNIZANT TECH SOLUT 291,762 390,130
    194014106 COLFAX CORPORATION 264,096 100,405
    25179M103 DEVON ENERGY CORPORA 280,972 128,000
    38259P706 GOOGLE INC-CL C    
    69318G106 PBF ENERGY INC 363,391 478,530
    893641100 TRANSDIGM GROUP INC 119,304 182,760
    G5480U120 LIBERTY GLOBAL PLC-S 397,954 407,700
    02079K107 ALPHABET INC CL C 134,416 380,199
    02079K305 ALPHABET INC CL A 134,960 389,005
    16411R208 CHENIERE ENERGY INC 309,132 186,250
    595112103 MICRON TECHNOLOGY IN 330,556 212,400
    740189105 PRECISION CASTPARTS 331,630 371,216
    G0177J108 ALLERGAN PLC 352,839 375,000

    TY 2015 InvestmentsGovtObligationsSch
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    US Government Securities - End of Year Book Value:

    1,278,614
    US Government Securities - End of Year Fair Market Value:

    1,286,487
    State & Local Government Securities - End of Year Book Value:


     
    State & Local Government Securities - End of Year Fair Market Value:


     


    TY 2015 InvestmentsOtherSchedule2
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    07387JAD8 VR BEAR STEARNS CO 5      
    073914C27 BEAR STEARNS MTG AT COST 33 14
    34528QBP8 FORD CREDIT FLOORPLA AT COST 30,450 30,144
    981464DS6 WORLD FINANCIAL NETW AT COST 69,618 69,575
    3136A2K51 FED NATL MTG ASSN AT COST 32,975 32,515

    TY 2015 LegalFeesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - INCOME (ALLOCABLE 7,922     7,922


    TY 2015 OtherDecreasesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Amount
    MUTUAL FUNDS POST NEXT TYE EFFECTIVE CURRENT TYE 9
    COST /FMV ADJUSTMENT 2,800
    ROUNDING 11
    RETURN OF CAPITAL 17,736


    TY 2015 OtherExpensesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADR FEES 137 137   0
    CANNON FOUNDATION SHARED EXPEN 9,807 0   9,807
    FOUNDATION LUNCH 14 0   14
    DATA RETENTION 63 0   63
    CANNON DOCUMENTARY SHARED EXPE 1,179 0   1,179


    TY 2015 OtherIncreasesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Amount
    MUTUAL FUNDS POST CURRENT TYE EFFECTIVE PRIOR TYE 1,716


    TY 2015 TaxesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 3,122 3,122   0
    FEDERAL TAX PAYMENT - PRIOR YE 4,291 0   0
    FEDERAL ESTIMATES - PRINCIPAL 21,206 0   0
    FOREIGN TAXES ON QUALIFIED FOR 4,137 4,137   0