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 06-01-2015 , and ending 05-31-2016
Name of foundation
THE RATCLIFFE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 310
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TAZEWELL, VA24651
A Employer identification number

23-7126937
B Telephone number (see instructions)

(276) 979-4268
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$33,287,471J 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) 0
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 8,705 8,705  
4 Dividends and interest from securities... 30,848 30,848  
5a Gross rents............ 142,945 142,945  
b Net rental income or (loss) -131,002
6a Net gain or (loss) from sale of assets not on line 10 2,783
b Gross sales price for all assets on line 6a 50,371
7 Capital gain net income (from Part IV, line 2)... 2,783
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 232,881 232,881  
12 Total. Add lines 1 through 11........ 418,162 418,162  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 91,481 59,931   0
15 Pension plans, employee benefits....... 39,940 14,416   0
16a Legal fees (attach schedule)......... Click to see attachment 896 0   0
b Accounting fees (attach schedule)....... Click to see attachment 27,850 12,750   0
c Other professional fees (attach schedule).... Click to see attachment 19,825 11,825   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 40,533 36,797   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 120,453 120,453  
20 Occupancy.............. 24,494 0   0
21 Travel, conferences, and meetings....... 1,350 1,350   0
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 71,024 34,288   7,899
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 437,846 291,810   7,899
25 Contributions, gifts, grants paid....... 700,455 700,455
26 Total expenses and disbursements. Add lines 24 and 25 1,138,301 291,810   708,354
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -720,139
b Net investment income (if negative, enter -0-) 126,352
c Adjusted net income (if negative, enter -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............. 205,839 256,962 256,962
2 Savings and temporary cash investments......... 2,931,100 2,931,100 2,931,100
3 Accounts receivable bullet476
Less: allowance for doubtful accounts bullet   257 476 476
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 5,437,433 Click to see attachment5,236,702 12,911,410
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet12,935,755
Less: accumulated depreciation (attach schedule) bullet568,153 11,556,187 Click to see attachment12,367,602 15,152,660
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet1,646,182
Less: accumulated depreciation (attach schedule) bullet   2,552,710 1,646,182 1,059,100
15 Other assets (describe bullet) Click to see attachment886,371 Click to see attachment886,371 Click to see attachment975,763
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 23,569,897 23,325,395 33,287,471
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) Click to see attachment2,381 Click to see attachment1,941
23 Total liabilities (add lines 17 through 22)......... 2,381 1,941
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 23,567,516 23,323,454
25 Temporarily restricted...............    
26 Permanently restricted...............    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 23,567,516 23,323,454
31 Total liabilities and net assets/fund balances (see instructions). 23,569,897 23,325,395
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
23,567,516
2
Enter amount from Part I, line 27a .....................
2
-720,139
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
476,077
4
Add lines 1, 2, and 3 ..........................
4
23,323,454
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
23,323,454
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 BASIS ADJ- DFA TWO YEAR GLBL FIXED INCM PORT INST   2011-12-30 2016-01-31
b 1,226.744 SH- DFA FIVE YEAR GLBL FIXED INCM PORT INSTL   2011-12-30 2016-02-03
c 1,202.561 SH- DFA TWO YEAR GLBL FIXED INCM PORT INSTL   2011-12-30 2016-02-03
d 1,312.986 SH- VANGUARD SHORT TERM BOND INDEX FUND INVESTOR SHR   2011-12-30 2016-02-03
e 161.764 SH- DFA INTL VALUE PROT INSTL   2011-12-30 2016-05-03
168.724 SH- DFA US LARGE CAP VALUE PROT INSTL   2011-12-30 2016-05-03
106.533 SH- DFA US SMALL CAP VALUE PORT INSTL   2011-12-30 2016-05-03
(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     80 -80
b 13,530   13,384 146
c 11,976   12,119 -143
d 13,788   13,922 -134
e 2,518   2,385 133
5,258   3,230 2,028
3,301   2,468 833
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       -80
b       146
c       -143
d       -134
e       133
      2,028
      833
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 2,783
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 2,096,053 26,925,167 0.077847
2013 1,400,819 27,804,879 0.050380
2012 1,294,466 28,823,574 0.044910
2011 1,791,739 25,936,225 0.069082
2010 3,798,819 30,352,303 0.125158
2
Total of line 1, column (d) .....................
20.367377
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
0.073475
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
33,925,379
5
Multiply line 4 by line 3......................
5
2,492,667
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,264
7
Add lines 5 and 6........................
7
2,493,931
8
Enter qualifying distributions from Part XII, line 4.............
8
708,354
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 2,527
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 2,527
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 2,527
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 1,176
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,176
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8 1
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,352
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see Instructions
for definition)?.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
Yes
 
If "Yes," attach a detailed description of the activities.Click to see attachment
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)
    bullet
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    If "Yes," complete Part XIV.............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJEANNE FIELDS Telephone no.bullet (276) 979-4268

    Located atbulletPO BOX 310TAZEWELLVA ZIP+4bullet24651
    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
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2015 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2015.)..................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? (see instructions)................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......
    5b
     
     
    .........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
    SCOTT COLE PRESIDENT/DIRECTOR
    0.00     		0 0 0
    PO BOX 310
    TAZEWELL,VA24651
    WILLIAM RIFE SECRETARY/TREASURER
    0.00     		0 0 0
    PO BOX 310
    TAZEWELL,VA24651
    SAM VARNEY ASSISTANT SEC/TREASURER
    0.00     		0 0 0
    PO BOX 310
    TAZEWELL,VA24651
    DAVE FARMER DIRECTOR
    0.00     		0 0 0
    PO BOX 310
    TAZEWELL,VA24651
    FRED HARMAN DIRECTOR
    0.00     		0 0 0
    PO BOX 310
    TAZEWELL,VA24651
    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 DONATION FOR EDUCATIONAL PURPOSES 0
    2 DONATION FOR COMMUNITY SERVICE- VOLUNTEER FIRE DEPTS., CHURCHES, HOSPITALS, SCHOOLS, FUNERAL SERVICES, CEMETERIES & HISTORICAL SITES 1,841
    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 N/A 0
    2 N/A 0
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    13,561,081
    b
    Average of monthly cash balances.......................
    1b
    3,124,776
    c
    Fair market value of all other assets (see instructions)................
    1c
    17,756,152
    d
    Total (add lines 1a, b, and c).........................
    1d
    34,442,009
    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
    34,442,009
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    516,630
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    33,925,379
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,696,269
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    1,696,269
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    2,527
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    2,527
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,693,742
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,693,742
    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
    1,693,742
    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
    708,354
    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
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    708,354
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    708,354
    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 1,693,742
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 619,601
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2015:
    a From 2010......  
    b From 2011......  
    c From 2012......  
    d From 2013......  
    e From 2014......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 708,354
    a Applied to 2014, but not more than line 2a 619,601
    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..... 88,753
    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 ..........     		1,604,989
    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....  
    b Excess from 2012....  
    c Excess from 2013....  
    d Excess from 2014....  
    e Excess from 2015....  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2015, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2015 (b) 2014 (c) 2013 (d) 2012
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    SCOTT COLE
    P O BOX 310
    TAZEWELL,VA24651
    (276) 979-4268
    bThe form in which applications should be submitted and information and materials they should include:
    WRITTEN APPLICATION, NAME, ADDRESS, AND PURPOSE
    cAny submission deadlines:
    MAY 1
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    AMERICAN ENDOWMENT FOUNDATION
    1521 GEORGETOWN RD STE 104
    HUDSON,OH44236     		NONE OTHER PUBLIC CHARITY CHARITABLE 698,614
    EDDIE'S TROPHIES
    102 16TH STREET SHELBY STREET
    BRISTOL,TN376210818     		NONE N/A COMMUNITY SERVICE- HIGH SCHOOL FOOTBALL TROPHY- MOST VALUABLE PLAYER AWARD 211
    SEWAH STUDIOS INC
    190 MILL CREEK ROAD
    MARIETTA,OH457500298     		NONE N/A COMMUNITY SERVICE- HISTORICAL MARKER- ELK GARDEN FORT, ELK GARDEN, VA 1,630
    Total .................................bullet 3a 700,455
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		    14 8,705  
    4 Dividends and interest from securities....     14 30,848  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 -131,002  
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....     01 232,881  
    8
    Gain or (loss) from sales of assets other than inventory ............     		    18 2,783  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory..     01    
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 144,215 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13144,215
    (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:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BOOKKEEPING FEES 6,600 0   0
    INCOME TAX & ACCOUNTING FEES 10,625 2,125   0
    ACCOUNTING 10,625 10,625   0

    TY 2015 ActyNotPreviouslyRptExpln
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Explanation:
    THE RATCLIFFE FOUNDATION EFFECTIVE SEPTEMBER 01, 2015 HAS OPENED THE HISTORIC ELLENBROOK COLONIAL MANSION FOR PUBLIC TOURS. THIS PUTS INTO SERVICE THIS ASSET AS ENGAGING IN THE ACTIVITY AND MISSION OF THE FOUNDATION,

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

    TY 2015 DepreciationSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    LAND (159-A-0002) 2007-10-31 779,400     0 % 0 0    
    1 STORY HOUSE (159-A-0002) 2007-10-31 29,000 7,775 SL 27.500000000000 1,055 1,055    
    1 STORY HOUSE (159-A-0002) 2007-10-31 27,500 7,373 SL 27.500000000000 1,000 1,000    
    LAND (159-A-0001) 2007-10-31 262,000     0 % 0 0    
    1 STORY HOUSE (159-A-001) 2007-10-31 52,000 13,938 SL 27.500000000000 1,891 1,891    
    LAND (144-A-0005) 2007-10-31 166,600     0 % 0 0    
    LAND (144-A-0004) 2007-10-31 203,000     0 % 0 0    
    LAND (143-A-0020)(144-A-0001,0002,0003) 2007-10-31 434,700     0 % 0 0    
    LAND (145-A-0009) 2007-10-31 489,523     0 % 0 0    
    LAND (145-A-0009A) 2 ACRES 2007-10-31 2,186     0 % 0 0    
    1 STORY HOUSE (159-A-0009A) 2007-10-31 78,000 20,907 SL 27.500000000000 2,836 2,836    
    LAND (145-A-0009B) 1 ACRE LOT 2007-10-31 1,093     0 % 0 0    
    2 STORY HOUSE (145-A-0009B) 2007-10-31 240,000 64,329 SL 27.500000000000 8,727 8,727    
    LAND (145-A-0012) 2007-10-31 418,000     0 % 0 0    
    LAND (145-A-0012A) 2 ACRE LOT 2007-10-31 15,000     0 % 0 0    
    LAND (145-A-0008) 2007-10-31 327,000     0 % 0 0    
    1.5 STORY HOUSE (145-A-0008 2007-10-31 12,000 3,214 SL 27.500000000000 436 436    
    LAND (145-A-0003) 2007-10-31 580,500     0 % 0 0    
    LAND (129-A-0017A,18,19) 2007-10-31 351,000     0 % 0 0    
    LAND (129-A-0016) 15 ACRES 2007-10-31 11,250     0 % 0 0    
    LAND (111-A-0024) 157 ACRES 2007-10-31 117,748     0 % 0 0    
    LAND (111-A-0025) 45 ACRES 2007-10-31 33,750     0 % 0 0    
    LAND (158-A-0036) 672 ACRES 2007-10-31 659,000     0 % 0 0    
    HOUSE (158-A-0036) 2007-10-31 13,000 3,483 SL 27.500000000000 473 473    
    LAND (145-A-0013) 1 ACRE 2007-10-31 1,100     0 % 0 0    
    HOUSE (145-A-0013) 2007-10-31 119,900 32,139 SL 27.500000000000 4,360 4,360    
    LAND (145-A-0002) 370.7 ACRES 2007-10-31 528,000     0 % 0 0    
    HOUSE (145-A-0002) 2007-10-31 28,000 7,505 SL 27.500000000000 1,018 1,018    
    LAND (171-A-001) 918.67 ACRES 2007-10-31 827,000     0 % 0 0    
    LAND (171-A-0005) 765.31 ACRES 2007-10-31 835,000     0 % 0 0    
    2 STORY HOUSE (171-A-0005) REDROCK 2007-10-31 210,000 56,288 SL 27.500000000000 7,636 7,636    
    1 STORY HOUSE (171-A-0005) 2007-10-31 53,000 14,206 SL 27.500000000000 1,927 1,927    
    LAND (170-A-0006) 634.81 ACRES 2007-10-31 570,000     0 % 0 0    
    1.5 STORY HOUSE (170-A-0006) 2007-10-31 55,000 14,742 SL 27.500000000000 2,000 2,000    
    1 STORY HOUSE (170-A-0006) 2007-10-31 10,000 2,680 SL 27.500000000000 364 364    
    LAND (170-A-0005) 180 ACRES 2007-10-31 180,000     0 % 0 0    
    LAND (170-A-0004) 160 ACRES 2007-10-31 96,000     0 % 0 0    
    LAND (170-A-0003) 191.4 ACRES 2007-10-31 134,000     0 % 0 0    
    LAND (170-A-0002) 419.4 ACRES 2007-10-31 273,000     0 % 0 0    
    LAND (180-A-0001) 195 ACRES 2007-10-31 136,500     0 % 0 0    
    LAND (180-A-0002) 296 ACRES 2007-10-31 177,600     0 % 0 0    
    LAND (180-A-0003) 226.5 ACRES 2007-10-31 125,000     0 % 0 0    
    LAND (180-A-0004) 463 ACRES 2007-10-31 208,000     0 % 0 0    
    LAND - RHEA COUNTY TN 5 LOTS 2007-10-31 8,600     0 % 0 0    
    RAV 4 (4X4) 2010-06-01 23,483 23,483 SL 5.000000000000 0 0    
    KODIAK 6' BUSHOG 2010-09-30 1,605 1,069 SL 7.000000000000 229 229    
    JOHN DEERE MODEL 5065 W/LOADER 2010-09-30 24,900 16,599 SL 7.000000000000 3,557 3,557    
    KODIAK 350 MOWER 2010-09-30 1,600 1,068 SL 7.000000000000 229 229    
    KODIAK POST HOLE DIGGER 2010-09-30 895 597 SL 7.000000000000 128 128    
    JOHN DEERE MODEL D100 MOWER 2012-04-11 1,050 475 SL 7.000000000000 150 150    
    STUART LAND 2011-06-01 10,000   L   0 0    
    STUART HOUSE 2011-06-01 731,664 106,424 SL 27.500000000000 26,606 26,606    
    ROOF- 4317 MAIDEN SPRINGS RD 2012-05-30 9,250 1,008 SL 27.500000000000 336 336    
    WELL- 5171 MAIDEN SPRRING RD 2011-10-20 7,877 1,881 SL 15.000000000000 525 525    
    REMODEL BARN- HART'S RENTAL 2011-06-01 22,000 4,400 SL 20.000000000000 1,100 1,100    
    REMODEL COVE LOG CABIN 2011-06-01 11,219 1,632 SL 27.500000000000 408 408    
    STIHL MODEL MS311 CHAIN SAW 2012-05-31 123 54 SL 7.000000000000 18 18    
    SICKLE FOR 350 MOWER 2012-06-01 179 65 SL 7.000000000000 26 26    
    HUSQVARNA YTH22V42 LAWN MOWER 2012-07-26 2,000 715 SL 7.000000000000 286 286    
    BARN & CATTLE PEN ROOF- HART RENTAL 2012-09-24 2,860 358 SL 20.000000000000 143 143    
    HOUSE ROOF- BOBBY BOYD RENTAL 2013-01-26 1,335 116 SL 27.500000000000 49 49    
    HOUSE ROOF- RUSSELL CORDILL RENTAL 2013-01-26 1,516 131 SL 27.500000000000 55 55    
    FENCE-ELK GARDEN/GILMAN 2013-04-19 831 297 SL 7.000000000000 119 119    
    FENCE- RATLIFF RENTAL PASTURE- ELK GARDEN 2013-04-03 2,047 730 SL 7.000000000000 292 292    
    HEAT PUMP COMPRESSOR & INSTALL- MIKE HUNSACKER RENTAL 2013-04-02 3,689 285 SL 27.500000000000 134 134    
    FENCE- RATLIFF RENTAL PASTURE/MCCLANAHAN 2012-09-24 915 327 SL 7.000000000000 131 131    
    GUTTER & DOWNSPOUTS- 4317 COVE RD- TAZEWELL, VA 2013-10-25 612 36 SL 27.500000000000 22 22    
    CARPET- 738 MAIDEN SPRINGS RD, TAZEWELL, VA 2013-11-21 2,100 488 SL 7.000000000000 300 300    
    WATER LINE- BOWDEN FARM (3 HOMES) 2014-03-07 7,231 542 SL 15.000000000000 482 482    
    FENCE- BARRINGER / WADDLE ANGUS FARMS 2014-06-01 2,987 213 SL 7.000000000000 427 427    
    HVAC SYSTEM- STUART HOUSE 2014-04-25 84,200 3,445 SL 27.500000000000 3,062 3,062    
    2013 F150 FORD PICKUP- NEW 2014-03-17 28,881 6,498 SL 5.000000000000 5,776 5,776    
    FENCE- HENDRICK CEMETERY- ELK GARDEN 2014-09-11 1,593 114 SL 7.000000000000 228 228    
    FENCE- HARRY FERGUSON- ELK GARDEN 2015-03-31 1,758 63 SL 7.000000000000 126 251    
    REMODEL WHITE HOUSE- #145-A-0013- 3242 MAIDEN SPRINGS RD 2015-01-01 29,250 399 SL 27.500000000000 1,064 1,064    
    REMODEL REDROCK HOUSE 2015-01-01 1,086,087 14,810 SL 27.500000000000 39,494 39,494    
    REDROCK PAVING 2015-01-01 19,200 320 SL 15.000000000000 640 1,280    
    ROOF- YELLOW HOUSE- MAIDEN SPRINGS- CAPT HENRY BOWDEN HOME 2015-10-21 25,890   SL 27.500000000000 588 588    
    BRUMLEY MOUNTAIN LAND   66,446   L   0 0    
    AM RATLIFF LAND- 3,380.395 ACRES 2001-06-14 745,409   L   0 0    
    WINMARLEIGH TOWER LAND   94,123   L   0 0    

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ANCHOR REDCLIFFE, INC- 112 SHARES 3,560,599 11,177,824
    CHARLES SCHWAB INSTITUTIONAL 1,676,103 1,733,586

    TY 2015 InvestmentsLandSchedule2
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND (159-A-0002) 779,400 0 779,400  
    1 STORY HOUSE (159-A-0002) 29,000 8,830 20,170  
    1 STORY HOUSE (159-A-0002) 27,500 8,373 19,127  
    LAND (159-A-0001) 262,000 0 262,000  
    1 STORY HOUSE (159-A-001) 52,000 15,829 36,171  
    LAND (144-A-0005) 166,600 0 166,600  
    LAND (144-A-0004) 203,000 0 203,000  
    LAND (143-A-0020)(144-A-0001,0002,0003) 434,700 0 434,700  
    LAND (145-A-0009) 489,523 0 489,523  
    LAND (145-A-0009A) 2 ACRES 2,186 0 2,186  
    1 STORY HOUSE (159-A-0009A) 78,000 23,743 54,257  
    LAND (145-A-0009B) 1 ACRE LOT 1,093 0 1,093  
    2 STORY HOUSE (145-A-0009B) 240,000 73,056 166,944  
    LAND (145-A-0012) 418,000 0 418,000  
    LAND (145-A-0012A) 2 ACRE LOT 15,000 0 15,000  
    LAND (145-A-0008) 327,000 0 327,000  
    1.5 STORY HOUSE (145-A-0008 12,000 3,650 8,350  
    LAND (145-A-0003) 580,500 0 580,500  
    LAND (129-A-0017A,18,19) 351,000 0 351,000  
    LAND (129-A-0016) 15 ACRES 11,250 0 11,250  
    LAND (111-A-0024) 157 ACRES 117,748 0 117,748  
    LAND (111-A-0025) 45 ACRES 33,750 0 33,750  
    LAND (158-A-0036) 672 ACRES 659,000 0 659,000  
    HOUSE (158-A-0036) 13,000 3,956 9,044  
    LAND (145-A-0013) 1 ACRE 1,100 0 1,100  
    HOUSE (145-A-0013) 119,900 36,499 83,401  
    LAND (145-A-0002) 370.7 ACRES 528,000 0 528,000  
    HOUSE (145-A-0002) 28,000 8,523 19,477  
    LAND (171-A-001) 918.67 ACRES 827,000 0 827,000  
    LAND (171-A-0005) 765.31 ACRES 835,000 0 835,000  
    2 STORY HOUSE (171-A-0005) REDROCK 210,000 63,924 146,076  
    1 STORY HOUSE (171-A-0005) 53,000 16,133 36,867  
    LAND (170-A-0006) 634.81 ACRES 570,000 0 570,000  
    1.5 STORY HOUSE (170-A-0006) 55,000 16,742 38,258  
    1 STORY HOUSE (170-A-0006) 10,000 3,044 6,956  
    LAND (170-A-0005) 180 ACRES 180,000 0 180,000  
    LAND (170-A-0004) 160 ACRES 96,000 0 96,000  
    LAND (170-A-0003) 191.4 ACRES 134,000 0 134,000  
    LAND (170-A-0002) 419.4 ACRES 273,000 0 273,000  
    LAND (180-A-0001) 195 ACRES 136,500 0 136,500  
    LAND (180-A-0002) 296 ACRES 177,600 0 177,600  
    LAND (180-A-0003) 226.5 ACRES 125,000 0 125,000  
    LAND (180-A-0004) 463 ACRES 208,000 0 208,000  
    LAND - RHEA COUNTY TN 5 LOTS 8,600 0 8,600  
    RAV 4 (4X4) 23,483 23,483 0  
    KODIAK 6' BUSHOG 1,605 1,298 307  
    JOHN DEERE MODEL 5065 W/LOADER 24,900 20,156 4,744  
    KODIAK 350 MOWER 1,600 1,297 303  
    KODIAK POST HOLE DIGGER 895 725 170  
    JOHN DEERE MODEL D100 MOWER 1,050 625 425  
    STUART LAND 10,000 0 10,000  
    STUART HOUSE 731,664 133,030 598,634  
    ROOF- 4317 MAIDEN SPRINGS RD 9,250 1,344 7,906  
    WELL- 5171 MAIDEN SPRRING RD 7,877 2,406 5,471  
    REMODEL BARN- HART'S RENTAL 22,000 5,500 16,500  
    REMODEL COVE LOG CABIN 11,219 2,040 9,179  
    STIHL MODEL MS311 CHAIN SAW 123 72 51  
    SICKLE FOR 350 MOWER 179 91 88  
    HUSQVARNA YTH22V42 LAWN MOWER 2,000 1,001 999  
    BARN & CATTLE PEN ROOF- HART RENTAL 2,860 501 2,359  
    HOUSE ROOF- BOBBY BOYD RENTAL 1,335 165 1,170  
    HOUSE ROOF- RUSSELL CORDILL RENTAL 1,516 186 1,330  
    FENCE-ELK GARDEN/GILMAN 831 416 415  
    FENCE- RATLIFF RENTAL PASTURE- ELK GARDEN 2,047 1,022 1,025  
    HEAT PUMP COMPRESSOR & INSTALL- MIKE HUNSACKER RENTAL 3,689 419 3,270  
    FENCE- RATLIFF RENTAL PASTURE/MCCLANAHAN 915 458 457  
    GUTTER & DOWNSPOUTS- 4317 COVE RD- TAZEWELL, VA 612 58 554  
    CARPET- 738 MAIDEN SPRINGS RD, TAZEWELL, VA 2,100 788 1,312  
    WATER LINE- BOWDEN FARM (3 HOMES) 7,231 1,024 6,207  
    FENCE- BARRINGER / WADDLE ANGUS FARMS 2,987 640 2,347  
    HVAC SYSTEM- STUART HOUSE 84,200 6,507 77,693  
    2013 F150 FORD PICKUP- NEW 28,881 12,274 16,607  
    FENCE- HENDRICK CEMETERY- ELK GARDEN 1,593 342 1,251  
    FENCE- HARRY FERGUSON- ELK GARDEN 1,758 1,068 690  
    REMODEL WHITE HOUSE- #145-A-0013- 3242 MAIDEN SPRINGS RD 29,250 1,463 27,787  
    REMODEL REDROCK HOUSE 1,086,087 54,304 1,031,783  
    REDROCK PAVING 19,200 10,560 8,640  
    ROOF- YELLOW HOUSE- MAIDEN SPRINGS- CAPT HENRY BOWDEN HOME 25,890 588 25,302  
    BRUMLEY MOUNTAIN LAND 66,446 0 66,446  
    AM RATLIFF LAND- 3,380.395 ACRES 745,409 0 745,409  
    WINMARLEIGH TOWER LAND 94,123 0 94,123  

    TY 2015 LegalFeesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES- VARIOUS 896 0   0


    TY 2015 OtherAssetsSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    FURNITURE 73,629 73,629 73,629
    COAT OF ARMS 15,850 15,850 15,850
    COLLECTION OF JEWELRY AND ANTIQUES 771,892 771,892 861,284
    1967 ROLLS ROYCE- BLACK PHANTOM V 25,000 25,000 25,000


    TY 2015 OtherExpensesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 13,068 0   0
    MISCELLANEOUS 723 0   0
    OFFICE EXPENSE 909 0   24
    AUTO EXPENSE- REPAIRS 2,046 0   0
    BANK CHARGES 24 0   0
    REPAIR & MAINTENANCE 19,864 0   7,875
    LICENSE 102 0   0
    REPAIRS AND MAINTENANCE 19,391 19,391   0
    INSURANCE 14,897 14,897   0


    TY 2015 OtherIncomeSchedule2
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    RECREATIONAL RIGHTS 44,000 44,000 44,000
    COAL ROYALTY 143 143 143
    NATURE CONSERVANCY 164,718 164,718 164,718
    MISCELLENOUS SALES- BOOKS 20 20 20
    MANAGEMENT INCOME 24,000 24,000 24,000


    TY 2015 OtherIncreasesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description Amount
    AMERICAN ENDOWMENT FOUNDATION- DIFFERENCE FMV & BOOK VALUE 476,077


    TY 2015 OtherLiabilitiesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Description Beginning of Year - Book Value End of Year - Book Value
    PAYROLL TAXES WITHHELD 2,381 1,941


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    VALUATION SERVICES 8,000 0   0
    INVESTMENT SERVICE FEES 11,825 11,825   0


    TY 2015 TaxesSchedule
    Name:
    THE RATCLIFFE FOUNDATION
    EIN:
    23-7126937
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAX 3,736 0   0
    REAL ESTATE TAXES 36,797 36,797   0