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 09-01-2015 , and ending 08-31-2016
Name of foundation
PATRICIA E & JOHN D BASSETT
III FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 110
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GALAX, VA24333
A Employer identification number

23-7066445
B Telephone number (see instructions)

(276) 236-6061
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$918,301J 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 4  
4 Dividends and interest from securities... 17,703 17,703  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 28,646
b Gross sales price for all assets on line 6a 281,134
7 Capital gain net income (from Part IV, line 2)... 28,646
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 46,353 46,353  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 165 0   0
b Accounting fees (attach schedule)....... Click to see attachment 4,900 0   0
c Other professional fees (attach schedule).... Click to see attachment 3,577 3,472   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,244 89   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 10,886 3,561   0
25 Contributions, gifts, grants paid....... 39,975 39,975
26 Total expenses and disbursements. Add lines 24 and 25 50,861 3,561   39,975
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -4,508
b Net investment income (if negative, enter -0-) 42,792
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............. 7,669 10,369 10,369
2 Savings and temporary cash investments......... 81,304 42,215 42,215
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 639,577 Click to see attachment671,458 865,717
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis 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) 728,550 724,042 918,301
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 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........ 62,512 62,512
28 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
29 Retained earnings, accumulated income, endowment, or other funds 666,038 661,530
30 Total net assets or fund balances (see instructions)..... 728,550 724,042
31 Total liabilities and net assets/fund balances (see instructions). 728,550 724,042
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
728,550
2
Enter amount from Part I, line 27a .....................
2
-4,508
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
724,042
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
724,042
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 64 GAP INC. A- P 2014-03-07 2015-09-30
b 5 GAP INC. A- P 2013-10-31 2015-09-30
c 69 GAP INC. A- P 2013-10-31 2015-09-30
d 51 GAP INC. A- P 2013-10-31 2015-09-30
e 131 QUANTA SERVICES INC P 2015-01-06 2015-10-16
23 QUANTA SERVICES INC P 2015-01-06 2015-10-16
108 QUANTA SERVICES INC P 2013-04-03 2015-10-16
60 QUANTA SERVICES INC P 2012-11-29 2015-10-19
34 QUANTA SERVICES INC P 2013-04-03 2015-10-19
80 QUANTA SERVICES INC P 2012-11-29 2015-10-19
88 QUANTA SERVICES INC P 2012-11-29 2015-10-19
21 POWER INTEGRATIONS INC. P 2011-05-02 2015-10-20
73 LIBERTY INTERACTIVE CORP P 2013-08-06 2015-10-20
62 LIBERTY INTERACTIVE CORP P 2013-08-06 2015-10-20
63 LIBERTY INTERACTIVE CORP P 2013-08-06 2015-10-20
43 POWER INTEGRATIONS INC. P 2011-05-02 2015-10-21
17 POWER INTEGRATIONS INC. P 2011-05-02 2015-10-22
125 FMC CORP P 2001-12-13 2015-11-04
48 NORFOLK SOUTHERN CORP P 2009-03-25 2015-11-18
38 NORFOLK SOUTHERN CORP P 2009-05-01 2015-11-18
0.4683 SYNCHRONY FINANCIAL P 2004-03-23 2015-11-23
87 HEWLETT PACKARD ENTERPRISE CO P 2015-08-21 2015-11-24
67 HEWLETT PACKARD ENTERPRISE CO P 2015-09-01 2015-11-24
10 HEWLETT PACKARD ENTERPRISE CO P 2015-09-01 2015-11-24
68 HEWLETT PACKARD ENTERPRISE CO P 2015-09-01 2015-11-24
86 HEWLETT PACKARD ENTERPRISE CO P 2015-08-21 2015-11-24
40 HEWLETT PACKARD ENTERPRISE CO P 2015-09-01 2015-11-24
0.5104 SYNCHRONY FINANCIAL P 2004-03-23 2015-11-30
85 SUNPOWER CORPORATION P 2015-04-15 2016-01-12
21 SUNPOWER CORPORATION P 2015-05-05 2016-01-12
50 SUNPOWER CORPORATION P 2015-05-05 2016-01-12
42 SUNPOWER CORPORATION P 2015-05-05 2016-01-12
44 MONSANTO COMPANY P 2010-09-29 2016-01-14
113 DANA HOLDING CORP P 2011-11-29 2016-01-14
75 DANA HOLDING CORP P 2011-11-29 2016-01-14
54 DANA HOLDING CORP P 2011-11-29 2016-01-14
88 ACE LTD P 1999-10-08 2016-01-14
87 HP INC P 2015-08-21 2016-01-22
21 HP INC P 2015-09-01 2016-01-22
77 HP INC P 2015-09-01 2016-01-22
86 HP INC P 2015-08-21 2016-01-22
87 HP INC P 2015-09-01 2016-01-22
64 TYCO INTERNATIONAL LTD P 2015-05-05 2016-01-25
24 TYCO INTERNATIONAL LTD P 2011-08-03 2016-01-25
114 ARRIS INTERNATIONAL PLC P 2013-05-10 2016-01-28
126 ARRIS INTERNATIONAL PLC P 2013-05-10 2016-01-28
88 ARRIS INTERNATIONAL PLC P 2013-12-05 2016-01-28
25 ARRIS INTERNATIONAL PLC P 2013-05-10 2016-01-28
163 ARRIS INTERNATIONAL PLC P 2014-08-01 2016-01-28
8 ARRIS INTERNATIONAL PLC P 2013-05-10 2016-01-28
61 ACCENTURE PLC. CL A P 2014-10-15 2016-02-01
21 SUNPOWER CORPORATION P 2015-05-05 2016-02-10
85 SUNPOWER CORPORATION P 2015-02-26 2016-02-10
74 SUNPOWER CORPORATION P 2015-02-26 2016-02-10
87 SUNPOWER CORPORATION P 2015-07-17 2016-02-10
83 SUNPOWER CORPORATION P 2015-07-17 2016-02-10
37 PERRIGO CO PLC P 2014-05-07 2016-02-17
67 ADOBE SYSTEMS INC. P 2015-03-30 2016-02-17
42 ADOBE SYSTEMS INC. P 2015-05-05 2016-02-17
30.4 CITIGROUP INC. P 2010-12-09 2016-02-17
43 CITIGROUP INC. P 2011-05-11 2016-02-17
35.8 CITIGROUP INC. P 2010-10-26 2016-02-17
14.8 CITIGROUP INC. P 2010-09-21 2016-02-17
9.2013 CITIGROUP INC. P 1994-01-03 2016-02-17
34.7 CITIGROUP INC. P 2010-09-21 2016-02-17
68.0988 CITIGROUP INC. P 2011-09-21 2016-02-17
50.9013 CITIGROUP INC. P 2011-09-21 2016-02-18
0.1 CITIGROUP INC. P 1991-11-11 2016-02-18
49.9988 CITIGROUP INC. P 1991-11-11 2016-02-18
88 TYCO INTERNATIONAL LTD P 2011-08-03 2016-02-23
72 TYCO INTERNATIONAL LTD P 2009-03-20 2016-02-23
48 EXPRESS SCRIPTS HOLDING CO. P 2013-01-04 2016-02-23
38 EXPRESS SCRIPTS HOLDING CO. P 2012-11-15 2016-02-23
38 TYCO INTERNATIONAL LTD P 2011-08-03 2016-02-23
49 TYCO INTERNATIONAL LTD P 2009-03-20 2016-02-23
65 METLIFE INC. P 2010-08-03 2016-03-01
24 METLIFE INC. P 2012-01-20 2016-03-01
62 METLIFE INC. P 2012-01-20 2016-03-01
15 METLIFE INC. P 2009-06-05 2016-03-01
0.8 WEYERHAEUSER CO P 2006-08-10 2016-03-02
90 PAYPAL HOLDINGS INC P 2013-12-31 2016-03-03
166 NEWS CORP - CL A P 2013-07-05 2016-03-17
166 NEWS CORP - CL A P 2013-07-05 2016-03-17
132 NEWS CORP - CL A P 2013-07-05 2016-03-17
56 NEWS CORP - CL A P 2013-07-05 2016-03-17
76 NEWS CORP - CL A P 2015-07-20 2016-03-17
119 NEWS CORP - CL A P 2015-07-20 2016-03-18
79 NEWS CORP - CL A P 2015-07-20 2016-03-18
5 NEWS CORP - CL A P 2015-07-20 2016-03-18
125 NEWS CORP - CL A P 2015-07-20 2016-03-18
44.25 NEWS CORP - CL A P 2012-06-29 2016-03-18
27.75 NEWS CORP - CL A P 2012-07-23 2016-03-18
151 KLX INC P 2015-02-25 2016-03-29
28 METLIFE INC. P 2009-06-05 2016-03-30
39 METLIFE INC. P 2009-04-27 2016-03-30
35 METLIFE INC. P 2009-05-04 2016-03-30
21 METLIFE INC. P 2009-05-01 2016-03-30
11 AUTOZONE INC. P 2014-06-17 2016-05-04
61 MYLAN LABORATORIES P 2015-03-02 2016-05-18
25 MYLAN LABORATORIES P 2015-03-02 2016-05-18
82 MYLAN LABORATORIES P 2015-03-02 2016-05-18
60 HARMAN INTERNATIONAL P 2013-03-21 2016-05-27
56 PNC FINANCIAL SERVICES GROUP P 2010-10-22 2016-06-09
49 PNC FINANCIAL SERVICES GROUP P 2011-09-21 2016-06-09
71 AMERICAN AIRLINES GROUP INC. P 2015-05-05 2016-06-17
51 AMERICAN AIRLINES GROUP INC. P 2015-05-29 2016-06-17
8 AMERICAN AIRLINES GROUP INC. P 2015-05-29 2016-06-17
44 AMERICAN AIRLINES GROUP INC. P 2015-05-29 2016-06-17
86 AMERICAN AIRLINES GROUP INC. P 2014-08-06 2016-06-17
100 AMERICAN AIRLINES GROUP INC. P 2014-08-06 2016-06-17
0.4547 LIBERTY GLOBAL PLC LILAC P 2016-06-09 2016-06-21
1 AUTOZONE INC. P 2014-06-17 2016-07-11
8 AUTOZONE INC. P 2014-09-22 2016-07-11
135 CHICAGO BRIDGE & IRON COMPANY N.V. P 2014-07-30 2016-07-25
13.0204 LIBERTY GLOBAL PLC LILAC P 2016-06-09 2016-07-28
10.9796 LIBERTY GLOBAL PLC LILAC P 2016-06-09 2016-07-28
94 AKORN INC. P 2015-10-21 2016-08-04
6 AKORN INC. P 2015-10-21 2016-08-04
87 AKORN INC. P 2015-10-21 2016-08-04
3 AKORN INC. P 2015-10-21 2016-08-04
94 AKORN INC. P 2015-10-23 2016-08-04
43 ENDO INTERNATIONAL PLC P 2015-10-27 2016-08-09
28 ENDO INTERNATIONAL PLC P 2015-10-27 2016-08-09
54 ENDO INTERNATIONAL PLC P 2015-11-05 2016-08-09
37 ENDO INTERNATIONAL PLC P 2015-10-27 2016-08-09
18 ENDO INTERNATIONAL PLC P 2015-11-05 2016-08-09
102.05 PFIZER INC P 2005-07-22 2016-08-16
97.95 PFIZER INC P 1995-06-23 2016-08-16
91 INTERNATIONAL PAPER CO P 2011-01-10 2016-08-16
17 METLIFE INC. P 2009-05-01 2016-08-16
57 METLIFE INC. P 2009-07-09 2016-08-16
64 METLIFE INC. P 2009-04-17 2016-08-16
110 GRUPO TELEVISA S.A. P 2015-07-17 2016-08-17
81 GRUPO TELEVISA S.A. P 2015-07-08 2016-08-17
82 GRUPO TELEVISA S.A. P 2015-07-08 2016-08-17
150 HEALTHSOUTH CORP P 2016-02-23 2016-08-22
29 ILLUMINA INC. P 2016-03-17 2016-08-24
198 PFIZER INC P 2009-10-16 2016-08-25
(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 1,781   2,662 -881
b 139   186 -47
c 1,944   2,566 -622
d 1,438   1,896 -458
e 2,741   3,622 -881
455   636 -181
2,136   2,842 -706
1,146   1,519 -373
649   895 -246
1,517   2,025 -508
1,668   2,228 -560
982   847 135
2,068   1,492 576
1,755   1,267 488
1,777   1,288 489
2,012   1,735 277
804   686 118
5,248   889 4,359
4,365   1,644 2,721
3,456   1,317 2,139
31   13 18
1,200   1,276 -76
924   975 -51
138   146 -8
940   987 -47
1,190   1,227 -37
554   581 -27
    14 -14
2,026   2,845 -819
501   697 -196
1,194   1,659 -465
1,003   1,382 -379
3,987   2,153 1,834
1,261   1,349 -88
853   896 -43
606   645 -39
9,740   1,372 8,368
851   1,161 -310
205   277 -72
753   1,020 -267
842   1,116 -274
852   1,149 -297
2,154   2,536 -382
808   514 294
2,857   1,865 992
3,134   2,061 1,073
2,220   1,939 281
631   409 222
4,148   4,756 -608
204   131 73
6,488   4,550 1,938
459   691 -232
1,860   2,746 -886
1,614   2,391 -777
1,897   2,355 -458
1,810   2,227 -417
5,379   4,854 525
5,477   4,945 532
3,433   3,156 277
1,202   1,432 -230
1,701   1,882 -181
1,416   1,511 -95
585   596 -11
364   482 -118
1,374   1,397 -23
2,696   1,861 835
2,035   1,391 644
4   2 2
1,999   1,063 936
2,998   1,886 1,112
2,428   701 1,727
3,289   2,647 642
2,604   1,917 687
1,286   815 471
1,658   477 1,181
2,659   2,768 -109
982   872 110
2,540   2,251 289
614   489 125
21   45 -24
3,501   2,914 587
2,088   2,510 -422
2,061   2,510 -449
1,640   1,996 -356
694   847 -153
942   1,135 -193
1,469   1,772 -303
975   1,180 -205
61   74 -13
1,537   1,855 -318
544   466 78
341   289 52
4,884   6,170 -1,286
1,242   912 330
1,730   1,101 629
1,552   972 580
931   583 348
8,601   5,764 2,837
2,596   3,520 -924
1,064   1,443 -379
3,492   4,732 -1,240
4,648   2,652 1,996
4,927   3,046 1,881
4,311   2,474 1,837
2,080   3,377 -1,297
1,494   2,169 -675
234   340 -106
1,292   1,869 -577
2,526   3,242 -716
2,934   3,769 -835
    17 -17
813   524 289
6,508   4,048 2,460
4,754   8,150 -3,396
456   474 -18
385   398 -13
2,974   2,409 565
189   154 35
2,735   2,149 586
94   74 20
2,944   2,211 733
973   2,576 -1,603
634   1,676 -1,042
1,223   2,853 -1,630
831   2,215 -1,384
404   951 -547
3,568   2,742 826
3,425   512 2,913
4,295   2,521 1,774
683   472 211
2,291   1,567 724
2,573   1,747 826
2,979   3,990 -1,011
2,194   2,912 -718
2,221   2,947 -726
6,019   4,957 1,062
4,949   4,298 651
6,869   3,468 3,401
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       -881
b       -47
c       -622
d       -458
e       -881
      -181
      -706
      -373
      -246
      -508
      -560
      135
      576
      488
      489
      277
      118
      4,359
      2,721
      2,139
      18
      -76
      -51
      -8
      -47
      -37
      -27
      -14
      -819
      -196
      -465
      -379
      1,834
      -88
      -43
      -39
      8,368
      -310
      -72
      -267
      -274
      -297
      -382
      294
      992
      1,073
      281
      222
      -608
      73
      1,938
      -232
      -886
      -777
      -458
      -417
      525
      532
      277
      -230
      -181
      -95
      -11
      -118
      -23
      835
      644
      2
      936
      1,112
      1,727
      642
      687
      471
      1,181
      -109
      110
      289
      125
      -24
      587
      -422
      -449
      -356
      -153
      -193
      -303
      -205
      -13
      -318
      78
      52
      -1,286
      330
      629
      580
      348
      2,837
      -924
      -379
      -1,240
      1,996
      1,881
      1,837
      -1,297
      -675
      -106
      -577
      -716
      -835
      -17
      289
      2,460
      -3,396
      -18
      -13
      565
      35
      586
      20
      733
      -1,603
      -1,042
      -1,630
      -1,384
      -547
      826
      2,913
      1,774
      211
      724
      826
      -1,011
      -718
      -726
      1,062
      651
      3,401
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 28,646
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 0 0 0.000000
2013 0 0 0.000000
2012   0 0.000000
2011      
2010      
2
Total of line 1, column (d) .....................
2  
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
 
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
 
5
Multiply line 4 by line 3......................
5
 
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
 
7
Add lines 5 and 6........................
7
 
8
Enter qualifying distributions from Part XII, line 4.............
8
 
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 1 856
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........................... 3 856
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- ..... 5 856
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 6a 1,500
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 1,500
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  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 643
11 Enter the amount of line 10 to be: Credited to 2015 estimated taxBullet643 RefundedBullet 11 0
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
 
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)
    bulletVA
    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 ofbulletPATRICIA E BASSETT Telephone no.bullet (336) 363-9169

    Located atbulletPO BOX 110GALAXVA ZIP+4bullet24333
    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
     
     
    ........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
     
     
    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
    JOHN D BASSETT III PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    PATRICIA E BASSETT SECRETARY
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    JOHN D BASSETT IV VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    ELLEN BASSETT VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    FRANCES B POOLE VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    E ASHTON POOLE VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    WYATT P BASSETT VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 110
    GALAX,VA24333
    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 N/A 0
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................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
    839,974
    b
    Average of monthly cash balances.......................
    1b
    62,371
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    902,345
    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
    902,345
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    13,535
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    888,810
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    44,441
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    44,441
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    856
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    856
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    43,585
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    43,585
    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
    43,585
    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
    39,975
    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
    39,975
    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
    39,975
    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 43,585
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only....... 37,935
    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$ 39,975
    a Applied to 2014, but not more than line 2a 37,935
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		Click to see attachment0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 2,040
    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 ..........     		41,545
    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 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
    PAST PRESIDENT'S FUND
    PO BOX 1706
    HOBE SOUND,FL33475     		    CHARITABLE 1,000
    UNIVERSITY OF VIRGINIA
    PO BOX 400807
    CHARLOTTESVILLE,VA229044807     		    EDUCATIONAL 1,000
    ALLEGHANY MEMORIAL HOSPITAL FOUNDATION
    233 DOCTORS STREET
    SPARTA,NC28675     		    MEDICAL 1,000
    CHERRY LANE VOLUNTEER FIRE DEPARTMENT
    PO BOX 162
    ROARING GAP,NC28668     		    CHARITABLE 1,000
    CHRIST EPISCOPAL CHURCH
    2543 HWY 21 SOUTH
    SPARTA,NC28675     		    RELIGIOUS 16,000
    CHRIST MEMORIAL CHAPEL
    PO BOX 582
    HOBE SOUND,FL33475     		    RELIGIOUS 1,300
    BASSETT MEMORIAL UNITED METHODIST CHURCH
    2805 RIVERSIDE DRIVE
    BASSETT,VA24055     		    RELIGIOUS 1,000
    JUPITER ISLAND MEDICAL FUND INC
    100 ESTRADA SQ
    HOBE SOUND,FL33455     		    MEDICAL 8,500
    BOYS AND GIRLS CLUB OF MARTIN COUNTY
    11500 SE LARES AVE
    HOBE SOUND,FL33455     		    CHARITABLE 2,000
    ROARING GAP CHURCH
    267 EAST ROARING GAP CHURCH ROAD
    ROARING GAP,NC28683     		    RELIGIOUS 1,500
    SAINT MARY'S SCHOOL
    900 HILLSBOROUGH STREET
    RALEIGH,NC27603     		    CHARITABLE 2,175
    WASHINGTON AND LEE UNIVERSITY
    204 W WASHINGTON ST
    LEXINGTON,VA24450     		    EDUCATIONAL 3,000
    EMPTY BOWLS
    PO BOX 2422
    POQUOSON,VA23662     		    CHARITABLE 500
    Total .................................bullet 3a 39,975
    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 4  
    4 Dividends and interest from securities....     14 17,703  
    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 28,646  
    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).. 0 46,353 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    1346,353
    (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:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 4,900 0   0

    TY 2015 AppliedToPriorYearElection
    Name:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Election:
    THE BASSETT FOUNDATION HEREBY ELECTS UNDER REGS. 53.4942(A)-3(D)(2) TO DESIGNATE THE EXCESS QUALIFYING DISTRIBUTIONS OF $ 1,337 TO THE UNDISTRIBUTED INCOME FOR THE TAXABLE YEARS ENDING AUGUST 31, 2009.

    TY 2015 InvestmentsCorpStockSchedule
    Name:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ACCENTURE 0 0
    ACE LTD 0 0
    ADOBE SYSTEMS INC 0 0
    ALCOA INC 7,629 8,457
    ALLEGHENY TECHNOLOGIES INC 8,725 5,562
    ALLEGION PUB LTD CO 4,063 4,701
    ALLSTATE CORP 14,321 27,584
    ALPHABET INC 18,719 23,779
    ALLY FINANCIAL INC 15,070 14,369
    AMAZON.COM 9,866 24,613
    AMERICAN AIRLINES 0 0
    AMERICAN EXPRESS COMPANY 20,292 16,592
    AMERICAN TOWER REIT 6,213 9,184
    ANALOG DEVICES INC 6,368 6,819
    APACHE CORP 7,040 4,125
    APPLE INC 28,892 29,920
    ARRIS GROUP INC 0 0
    AUTOZONE 0 0
    AXALTA COATING SYSTEMS LTD 9,845 9,731
    CATERPILLAR INC 10,850 11,145
    CHICAGO BRIDGE & I 0 0
    CITIGROUP INC 0 0
    COMCAST 9,920 13,313
    COOPER COS INC 4,472 5,578
    DANA HOLDING CORP 0 0
    DELPHI AUTOMOTIVE PLC 18,790 16,454
    DELTA AIRLINES INC 13,561 13,561
    DEVON ENERGY CORP 10,719 9,619
    DIAGEO PLC 13,667 13,610
    EXPRESS SCRIPTS HOLDING CO 0 0
    EXXON MOBIL CORP 9,558 9,324
    FLOWSERVE CORP 6,819 12,334
    FMC CORP 2,923 17,274
    GAP INC 0 0
    GENERAL ELECTRIC CO 7,784 10,840
    GENERAL MOTORS CO 15,844 13,821
    GILEAD SCIENCES INC 23,510 18,811
    GOOGLE INC 0 0
    GRUPO TELEVISA 0 0
    HARMAN INTERNATIONAL INDS INC 0 0
    HD SUPPLY HLDGS INC 6,509 8,161
    HEWLETT PACKARD CO 0 0
    HONEYWELL INTERNATIONAL INC 6,978 19,491
    INTERNATIONAL PAPER CO 3,823 6,837
    INVESCO LTD 9,072 16,500
    JOHNSON & JOHNSON 5,806 12,053
    KANSAS CITY SOUTHERN 6,070 17,216
    KINDER MORGAN INC 9,288 6,337
    KLX INC 0 0
    LIBERTY INTERACTIVE CORP 0 0
    LIBERTY GLOBAL PLC 12,416 11,623
    LOWES COS INC 3,868 26,337
    LYONDELLBASSELL INDUSTRIES NV-CL A 6,678 10,808
    MARSH & MCLENNAN COS INC 5,003 11,362
    METLIFE INC 0 0
    MGM RESORTS INTL 13,165 16,412
    MICRON TECHNOLOGY INC 16,346 18,007
    MICROSOFT CORPORATION 19,648 26,432
    MONDELEZ INTERNATIONAL - W/I 6,663 10,760
    MONSANTO CO 0 0
    MORGAN STANLEY 12,683 16,575
    NATIONAL FUEL GAS CO 3,923 4,679
    NEWELL BRANDS INC 13,637 19,852
    NEWS CORP NEW 0 0
    NOBLE ENERGY INC 16,568 17,585
    NORFOLK SOUTHERN CORP 0 0
    NXP SEMICONDUCTORS NV 6,606 6,602
    MYLAN NV 0 0
    PAYPAL HOLDINGS INC 0 0
    PERRIGO CO PLC 0 0
    PNC FINANCIAL SERVICES GROUP 0 0
    PFIZER INC 4,104 9,396
    PLUM CREEK TIMBER CO INC 0 0
    POTASH CORP SASK INC 4,447 1,919
    POWER INTERGRATIONS INC 0 0
    PRUDENTIAL FINANCIAL INC 7,004 17,464
    QUANTA SERVICES INC 0 0
    SUNPOWER CORP 0 0
    STAPLES INC 12,787 12,506
    SYNCHRONY FINL 8,274 8,405
    TELEPHONE AND DATA SYSTEMS INC 13,028 13,963
    TIME WARNER INC 8,519 10,821
    TWENTY-FIRST CENTURY FOX INC 5,069 6,405
    TYCO INTERNATIONAL LTD 0 0
    UNITED TECHNOLOGIES CORP 7,516 13,304
    UNITEDHEALTH GROUP INC 2,379 7,347
    UNILEVER NV 10,160 11,251
    UNIVERSAL HEALTH SVCS INC 11,381 11,450
    VISA INC 10,140 13,187
    WESTERN DIGITAL CORP 9,030 11,154
    WEYERHAEUSER CO 42,630 43,284
    WHIRPOOL CORP 12,994 19,114
    WILLIAMS COS INC 5,720 10,869
    XPO LOGISTICS INC 6,066 9,129

    TY 2015 LegalFeesSchedule
    Name:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 165 0   0


    TY 2015 OtherProfessionalFeesSchedule
    Name:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CROFT-LEOMINSTER INVEST. FEE 3,472 3,472   0
    SAFE DEPOSIT BOX 105 0   0


    TY 2015 TaxesSchedule
    Name:
    PATRICIA E & JOHN D BASSETT
     
    III FOUNDATION
    EIN:
    23-7066445
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 89 89   0
    FEDERAL EXCISE TAXES 2,155 0   0