-
TIN:
Form
990-PF
Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
Do not enter social security numbers on this form as it may be made public.
Go to
www.irs.gov/Form990PF
for instructions and the latest information.
OMB No. 1545-0052
20
18
Open to Public Inspection
For calendar year 2018, or tax year beginning
01-01-2018
, and ending
12-31-2018
Name of foundation
W MARSHALL HUGHES JR SCHOLARSHIP FUND
Number and street (or P.O. box number if mail is not delivered to street address)
PO BOX 2907 - TRUST TAX DEPT
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WILSON
,
NC
278942907
A Employer identification number
23-6934996
B
Telephone number (see instructions)
C
If exemption application is pending, check here
G
Check all that apply:
Initial return
Initial return of a former public charity
Final return
Amended return
Address change
Name change
D 1.
Foreign organizations, check here.............
2
. Foreign organizations meeting the 85%
test, check here and attach computation ...
E
If private foundation status was terminated
under section 507(b)(1)(A), check here .......
H
Check type of organization:
Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust
Other taxable private foundation
F
If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......
I
Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)
$
3,467,919
J
Accounting method:
Cash
Accrual
Other (specify)
(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)
1
Contributions, gifts, grants, etc., received (attach schedule)
2
Check
.............
3
Interest on savings and temporary cash investments
4
Dividends and interest from securities
...
90,037
90,037
5a
Gross rents
............
b
Net rental income or (loss)
6a
Net gain or (loss) from sale of assets not on line 10
140,319
b
Gross sales price for all assets on line 6a
2,172,521
7
Capital gain net income (from Part IV, line 2)
...
140,319
8
Net short-term capital gain
.........
0
9
Income modifications
...........
10a
Gross sales less returns and allowances
b
Less: Cost of goods sold
....
c
Gross profit or (loss) (attach schedule)
.....
11
Other income (attach schedule)
.......
12
Total.
Add lines 1 through 11
........
230,356
230,356
13
Compensation of officers, directors, trustees, etc.
41,815
41,815
41,815
14
Other employee salaries and wages
......
0
0
0
15
Pension plans, employee benefits
.......
0
0
16a
Legal fees (attach schedule)
.........
0
b
Accounting fees (attach schedule)
.......
c
Other professional fees (attach schedule)
....
0
17
Interest
...............
0
18
Taxes (attach schedule) (see instructions)
...
8,253
2,877
0
19
Depreciation (attach schedule) and depletion
...
0
0
20
Occupancy
..............
21
Travel, conferences, and meetings
.......
0
0
22
Printing and publications
..........
0
0
23
Other expenses (attach schedule)
.......
7
7
24
Total operating and administrative expenses.
Add lines 13 through 23
..........
50,075
44,699
0
41,815
25
Contributions, gifts, grants paid
.......
181,739
181,739
26
Total expenses and disbursements.
Add lines 24 and 25
231,814
44,699
0
223,554
27
Subtract line 26 from line 12:
a
Excess of revenue over expenses and disbursements
-1,458
b
Net investment income
(if negative, enter -0-)
185,657
c
Adjusted net income
(if negative, enter -0-)
...
0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X
Form
990-PF
(2018)
Form 990-PF (2018)
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
1
Cash—non-interest-bearing
.............
4,114
10,729
10,729
2
Savings and temporary cash investments
.........
68,772
99,512
99,512
3
Accounts receivable
Less: allowance for doubtful accounts
0
0
4
Pledges receivable
Less: allowance for doubtful accounts
5
Grants receivable
.................
6
Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions)
.....
7
Other notes and loans receivable (attach schedule)
Less: allowance for doubtful accounts
0
8
Inventories for sale or use
..............
9
Prepaid expenses and deferred charges
..........
115
645
645
10a
Investments—U.S. and state government obligations (attach schedule)
b
Investments—corporate stock (attach schedule)
.......
2,035,176
1,897,896
2,379,695
c
Investments—corporate bonds (attach schedule)
.......
898,753
884,521
879,492
11
Investments—land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
12
Investments—mortgage loans
.............
13
Investments—other (attach schedule)
..........
112,158
97,846
14
Land, buildings, and equipment: basis
Less: accumulated depreciation (attach schedule)
15
Other assets (describe
)
16
Total assets
(to be completed by all filers—see the
instructions. Also, see page 1, item I)
3,006,930
3,005,461
3,467,919
17
Accounts payable and accrued expenses
..........
18
Grants payable
.................
19
Deferred revenue
.................
20
Loans from officers, directors, trustees, and other disqualified persons
21
Mortgages and other notes payable (attach schedule)
......
22
Other liabilities (describe
)
23
Total liabilities
(add lines 17 through 22)
.........
0
Foundations that follow SFAS 117, check here
and complete lines 24 through 26 and lines 30 and 31.
24
Unrestricted
..................
25
Temporarily restricted
...............
26
Permanently restricted
...............
Foundations that do not follow SFAS 117, check here
and complete lines 27 through 31.
27
Capital stock, trust principal, or current funds
........
3,006,930
3,005,461
28
Paid-in or capital surplus, or land, bldg., and equipment fund
29
Retained earnings, accumulated income, endowment, or other funds
30
Total net assets or fund balances
(see instructions)
.....
3,006,930
3,005,461
31
Total liabilities and net assets/fund balances
(see instructions)
.
3,006,930
3,005,461
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return)
...............
1
3,006,930
2
Enter amount from Part I, line 27a
.....................
2
-1,458
3
Other increases not included in line 2 (itemize)
3
0
4
Add lines 1, 2, and 3
..........................
4
3,005,472
5
Decreases not included in line 2 (itemize)
5
11
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30
.
6
3,005,461
Form
990-PF
(2018)
Form 990-PF (2018)
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
7209.088 JANUS HENDERSON INTERNATIONAL OPPT I CUSIP CHG TO 47103X278 E
2011-12-29
2018-01-09
b
1612.137 JANUS HENDERSON INTERNATIONAL OPPT I CUSIP CHG TO 47103X278 E
2017-02-14
2018-01-09
c
1982.591 JANUS HENDERSON INTERNATIONAL OPPT I CUSIP CHG TO 47103X278 E
2017-08-16
2018-01-09
d
250. DR PEPPER SNAPPLE GROUP INC
2015-11-11
2018-02-02
e
75. JOHNSON + JOHNSON COM STK
2001-10-18
2018-03-12
325. TORCHMARK CORP
2013-04-18
2018-03-12
75. UNITEDHEALTH GROUP
2015-07-17
2018-03-12
20000. QUALCOMM INC 3.000% 05/20/22
2016-03-10
2018-04-16
25000. FED NATL MTG ASSN 0.875% 05/21/18
2013-04-30
2018-05-21
25000. WALMART INC DTD 04/11/2013 CALLABLE 2.55
2013-04-23
2018-05-22
10. BEMIS INC
2017-08-16
2018-05-29
160. BEMIS INC
2015-01-09
2018-05-29
10. MEDNAX INC COMMON
2017-08-16
2018-05-29
95. MEDNAX INC COMMON
2014-03-07
2018-05-29
5. MEREDITH CORP
2017-08-16
2018-05-29
115. MEREDITH CORP
2014-01-08
2018-05-29
5. TUPPERWARE CORP COMMON
2017-08-16
2018-05-29
51. TUPPERWARE CORP COMMON
2007-08-08
2018-05-29
20000. US TREASURY NOTE DTD 05/31/2011 2.375% 0
2017-04-04
2018-05-31
12895.475 GOLDMAN SACHS SATELLITE STRATEGIES PORTF
2010-09-13
2018-06-15
440. GOLDMAN SACHS SATELLITE STRATEGIES PORTF
2017-08-16
2018-06-15
25000. US TREASURY NOTE DTD 06/30/2014 1.625% 0
2017-08-30
2018-06-20
25000. US TREASURY BOND DTD 02/15/2006 4.5% 02/
2015-12-10
2018-06-27
17000. MERCK & CO INC DTD 12/10/2010 3.875% 01/
2011-02-01
2018-07-06
12000. PEPSICO INC 3.125% 11/01/20
2010-10-27
2018-07-12
40000. FED NATL MTG ASSN 1.625% 11/27/18
2013-12-23
2018-07-17
11000. DEERE & CO 2.600% 06/08/22
2012-06-06
2018-07-24
12000. OCCIDENTAL PETROLEUM COR DTD 12/16/2010
2011-03-21
2018-07-24
13237.781 GOLDMAN SACHS SATELLITE STRATEGIES PORTF
2010-09-13
2018-07-25
12000. APPLE INC DTD 05/06/2014 3.45% 05/06/202
2014-05-19
2018-08-16
13000. HOME DEPOT INC DTD 12/19/2006 5.875% 12/
2016-09-27
2018-08-16
25000. US TREASURY NOTE DTD 11/16/2015 2.25% 11
2017-11-29
2018-08-23
16000. BANK OF NY MELLON CORP DTD 05/02/2016 2.
2016-10-24
2018-08-29
20000. US TREASURY NOTE DTD 10/02/2017 2.125% 0
2017-10-23
2018-08-30
30. ABBVIE INC
2017-11-21
2018-08-31
20. AMERICAN EXPRESS CO COM STK*
2017-11-21
2018-08-31
45. APPLE COMPUTER COM
2005-09-01
2018-08-31
50. AVERY DENNISON CORP
2016-05-03
2018-08-31
10. BIG LOTS, INC
2013-12-02
2018-08-31
10. BROADRIDGE FINANCIAL SOLUTIONS INC
2017-08-16
2018-08-31
35. BROWN & BROWN INC
2017-05-15
2018-08-31
50. CH ROBINSON WORLDWIDE INC
2015-05-08
2018-08-31
5. CARLISLE COMMON
2017-05-15
2018-08-31
5. CARTERS INC COMMON
2017-11-13
2018-08-31
5. CHARLES RIV LABORATORIES INTL INC COM
2017-07-06
2018-08-31
5. CHEESECAKE FACTORY COMMON
2017-04-05
2018-08-31
10. CHURCH & DWIGHT CO
2017-08-16
2018-08-31
5. CIRRUS LOGIC COMMON
2017-05-15
2018-08-31
145. CISCO SYS INC
2013-02-25
2018-08-31
60. COLGATE-PALMOLIVE CO COM STK
2011-09-20
2018-08-31
15. COMMERCE BANCSHARES, INC.
2017-08-16
2018-08-31
463.829 CONESTOGA SMALL CAP-INST
2007-06-08
2018-08-31
10. CONVERGYS CORP
2017-01-12
2018-08-31
5. CRACKER BARREL OLD COUNTRY STORE COMMON
2017-05-15
2018-08-31
5. CURTISS WRIGHT CORP
2017-08-16
2018-08-31
10. DE LUXE CHECK PRINTERS INCORPORATED
2017-08-16
2018-08-31
60. DISCOVER FINL SVCS
2011-07-05
2018-08-31
10. EAST WEST BANCORP INC COMMON
2017-08-16
2018-08-31
20. EXXON MOBIL CORP
2001-08-21
2018-08-31
5. FLIR SYSTEMS INC COMMON
2017-11-21
2018-08-31
15. FACEBOOK INC CL A
2018-03-12
2018-08-31
10. GALLAGHER ARTHUR J
2017-08-16
2018-08-31
45. GENUINE PARTS CO
2014-04-23
2018-08-31
40. GILEAD SCIENCES INC
2015-07-17
2018-08-31
15. HANESBRANDS INC
2017-08-16
2018-08-31
5. HOLLYFRONTIER CORP
2017-11-21
2018-08-31
10. GEO. A. HORMEL & CO*
2017-05-15
2018-08-31
5. HUBBELL INC COMMON
2017-08-16
2018-08-31
110. INTEL CORP
2012-02-08
2018-08-31
5. INTERDIGITAL INC COMMON
2016-09-15
2018-08-31
20. JOHNSON + JOHNSON COM STK
2001-10-18
2018-08-31
5. J2 GLOBAL, INC. COMMON
2017-05-15
2018-08-31
20. LAM RESH CORP
2017-08-08
2018-08-31
5. LAMAR ADVERTISING CO
2017-05-15
2018-08-31
326.348 MFS NEW DISCOVERY VALUE-I
2017-02-14
2018-08-31
75. MARSH & MCLENNAN COS INC
2012-08-27
2018-08-31
35. MCDONALD'S CORP
2015-11-11
2018-08-31
80. MICROSOFT CORP
2001-08-21
2018-08-31
40. PEPSICO INC
2001-08-21
2018-08-31
15. RPM INC OHIO COM
2017-05-15
2018-08-31
30. RAYTHON COMPANY
2012-08-27
2018-08-31
5. RESMED, INC.
2017-07-06
2018-08-31
83.613 T ROWE PRICE INTL DISC-I CLOSE TO NEW WA
2017-08-16
2018-08-31
15. SCHLUMBERGER LTD COMMON
2014-12-11
2018-08-31
20. STANLEY BLACK & DECKER INC
2017-04-11
2018-08-31
5. SYNOPSYS INC.
2017-08-16
2018-08-31
5. SYNNEX CORP COMMON
2017-08-16
2018-08-31
40. TJX COMPANIES
2011-04-08
2018-08-31
10. TJX COMPANIES
2018-03-12
2018-08-31
10. 3M COMPANY COMMON
2017-04-11
2018-08-31
30. TYSON FOODS INC INC. COMMON
2018-02-02
2018-08-31
10. UGI CORP COM
2017-08-16
2018-08-31
110. US BANCORP
2012-04-13
2018-08-31
30. UNION PACIFIC CORP COMMON STO*
2013-02-25
2018-08-31
5. UNITED THERAPEUTICS CORP DEL
2017-08-16
2018-08-31
15. UNITEDHEALTH GROUP
2015-07-17
2018-08-31
50. V F CORP COMMON
2018-03-12
2018-08-31
20. VALERO ENERGY CORP NEW COM
2017-11-21
2018-08-31
50. VARIAN MED SYS INC
2016-05-03
2018-08-31
15. VERIZON COMMUNICATIONS
2016-11-02
2018-08-31
40. WALGREENS BOOTS ALLIANCE INC
2008-10-17
2018-08-31
5. WATSCO INC CL A
2017-08-16
2018-08-31
10. WORTHINGTON INDUSTRIES, INC
2017-08-16
2018-08-31
35. ACCENTURE PLC IRELAND SHS
2016-11-02
2018-08-31
55. TE CONNECTIVITY LTD
2013-05-08
2018-08-31
11000. MANULIFE FINL CORP DTD 03/04/2016 4.15%
2017-06-05
2018-09-20
20000. U S TREASURY NOTES 1.500% 01/31/19
2014-02-25
2018-09-21
60. APPLE COMPUTER COM
2005-09-01
2018-09-24
10000. BP CAPITAL MARKETS PLC DTD 09/16/2016 3.
2017-08-08
2018-09-24
135. MICROSOFT CORP
2001-08-21
2018-09-24
140. STANLEY BLACK & DECKER INC
2017-04-11
2018-09-24
6000. VISA INC DTD 12/14/2015 2.8% 12/14/2022
2016-05-25
2018-09-28
20000. ANHEUSER-BUSCH INBEV FIN DTD 01/25/2016
2017-07-31
2018-10-01
16000. PNC FUNDING CORP DTD 02/08/10 5.125% 02/
2017-06-12
2018-10-11
21000. BERKSHIRE HATHAWAY INC DTD 3/15/2016 3.1
2016-06-13
2018-10-17
.208 SYNNEX CORP COMMON
2016-09-15
2018-10-31
20000. FED HOME LN MTG CORP 1.750% 05/30/19
2012-07-18
2018-11-02
40. CHURCH & DWIGHT CO
2011-05-05
2018-11-16
15. FLIR SYSTEMS INC COMMON
2017-11-21
2018-11-16
250. HANESBRANDS INC
2013-06-25
2018-11-16
50. HOLLYFRONTIER CORP
2017-11-21
2018-11-16
20. GEO. A. HORMEL & CO*
2008-11-25
2018-11-16
65. INTERDIGITAL INC COMMON
2016-09-15
2018-11-16
50. SYNOPSYS INC.
2015-07-17
2018-11-16
50. WINTRUST CORP
2017-11-21
2018-11-16
85. WORTHINGTON INDUSTRIES, INC
2016-09-15
2018-11-16
175. AVERY DENNISON CORP
2016-05-03
2018-11-27
350. GILEAD SCIENCES INC
2015-07-17
2018-11-27
220. MARSH & MCLENNAN COS INC
2012-08-27
2018-11-27
55. MCDONALD'S CORP
2015-05-08
2018-11-27
65. RAYTHON COMPANY
2012-08-27
2018-11-27
115. SCHLUMBERGER LTD COMMON
2014-12-11
2018-11-27
20. 3M COMPANY COMMON
2017-04-11
2018-11-27
355. TYSON FOODS INC INC. COMMON
2018-02-02
2018-11-27
400. US BANCORP
2012-04-13
2018-11-27
75. V F CORP COMMON
2018-03-12
2018-11-27
1519.773 DFA COMMODITY STRATEGY PORT
2018-06-15
2018-12-14
20000. FED HOME LN MTG CORP 1.250% 08/01/19
2012-11-29
2018-12-14
1581.806 OAKMARK INTERNATIONAL-INST
2018-01-09
2018-12-14
1664.402 IVY INTERNATIONAL CORE EQUITY FUND CLASS
2017-08-16
2018-12-14
363.236 IVY INTERNATIONAL CORE EQUITY FUND CLASS
2018-08-31
2018-12-14
16000. JPMORGAN CHASE & CO 3.200% 01/25/23
2013-01-24
2018-12-14
535.047 LAZARD GLOBAL LISTED INFRASTRUCTURE PORT
2018-07-25
2018-12-14
9000. PNC FUNDING CORP DTD 02/08/10 5.125% 02/
2017-06-12
2018-12-14
8000. PEPSICO INC 3.125% 11/01/20
2010-10-27
2018-12-14
65.253 T ROWE PRICE INTL DISC-I CLOSE TO NEW WA
2017-08-16
2018-12-14
10000. US TREASURY BOND DTD 11/16/2015 3% 11/15
2015-12-09
2018-12-14
15000. US TREASURY NOTE DTD 10/02/2017 2.125% 0
2017-10-23
2018-12-14
10000. US TREASURY NOTE DTD 11/17/2014 2.25% 11
2014-12-01
2018-12-14
.25 COMMERCE BANCSHARES, INC.
2018-12-19
2018-12-17
9718.61 OAKMARK INTERNATIONAL-INST
2018-01-09
2018-12-27
856.89 OAKMARK INTERNATIONAL-INST
2018-08-31
2018-12-27
14079.895 IVY INTERNATIONAL CORE EQUITY FUND CLASS
2017-05-17
2018-12-27
CAPITAL GAIN DIVIDENDS
P
(e)
Gross sales price
(f)
Depreciation allowed
(or allowable)
(g)
Cost or other basis
plus expense of sale
(h)
Gain or (loss)
(e) plus (f) minus (g)
a
222,112
135,546
86,566
b
49,670
44,656
5,014
c
61,084
57,079
4,005
d
29,790
22,193
7,597
e
9,951
4,390
5,561
28,241
12,717
15,524
16,755
9,344
7,411
19,602
20,254
-652
25,000
25,000
24,170
24,884
-714
435
423
12
6,958
7,293
-335
463
429
34
4,400
5,817
-1,417
240
282
-42
5,518
5,879
-361
225
293
-68
2,293
1,078
1,215
20,000
20,000
105,227
98,779
6,448
3,590
3,652
-62
24,810
25,079
-269
30,638
31,687
-1,049
17,334
17,364
-30
12,049
11,892
157
39,923
39,779
144
10,744
10,996
-252
12,257
12,013
244
108,020
100,925
7,095
12,108
12,128
-20
16,026
17,749
-1,723
24,125
24,848
-723
15,549
16,054
-505
19,248
19,881
-633
2,876
2,848
28
2,120
1,887
233
10,242
357
9,885
5,250
3,725
1,525
433
428
5
1,348
773
575
1,062
770
292
4,784
3,321
1,463
632
516
116
528
508
20
617
504
113
266
325
-59
564
504
60
220
324
-104
6,923
3,049
3,874
3,961
2,842
1,119
1,065
801
264
28,971
8,666
20,305
247
253
-6
741
811
-70
669
481
188
591
694
-103
4,677
1,611
3,066
632
563
69
1,599
1,086
513
313
237
76
2,629
2,780
-151
720
590
130
4,477
3,889
588
3,025
4,720
-1,695
261
364
-103
374
223
151
390
345
45
631
571
60
5,320
2,951
2,369
412
380
32
2,683
1,171
1,512
412
426
-14
3,467
3,148
319
385
351
34
5,515
4,921
594
6,337
2,574
3,763
5,669
4,003
1,666
8,941
2,362
6,579
4,457
2,016
2,441
1,009
754
255
5,963
1,696
4,267
556
383
173
6,015
5,567
448
946
1,275
-329
2,806
2,651
155
511
396
115
485
592
-107
4,374
1,016
3,358
1,093
823
270
2,104
1,894
210
1,876
2,253
-377
539
491
48
5,934
3,577
2,357
4,496
2,059
2,437
618
661
-43
4,017
1,869
2,148
4,593
3,676
917
2,361
1,671
690
5,593
3,609
1,984
812
707
105
2,733
953
1,780
874
744
130
465
501
-36
5,897
4,166
1,731
5,032
2,473
2,559
11,075
11,663
-588
19,942
19,984
-42
13,222
476
12,746
9,381
9,946
-565
15,476
3,583
11,893
21,191
18,557
2,634
5,882
6,128
-246
19,346
20,679
-1,333
16,405
16,643
-238
20,112
21,755
-1,643
16
21
-5
19,904
20,062
-158
2,626
972
1,654
716
710
6
3,726
4,541
-815
3,177
2,229
948
916
279
637
4,896
4,915
-19
4,501
2,658
1,843
3,878
3,988
-110
3,576
3,495
81
16,214
13,038
3,176
23,464
37,261
-13,797
18,781
7,551
11,230
10,096
5,446
4,650
11,060
3,675
7,385
5,272
9,736
-4,464
4,006
3,788
218
20,783
26,657
-5,874
21,429
12,462
8,967
5,906
5,514
392
8,496
9,119
-623
19,824
19,956
-132
32,902
46,458
-13,556
25,981
32,073
-6,092
5,670
7,145
-1,475
15,726
16,008
-282
8,159
8,668
-509
9,168
9,315
-147
8,013
7,846
167
3,893
4,345
-452
9,752
10,004
-252
14,478
14,911
-433
9,706
10,046
-340
13
14
-1
195,636
285,436
-89,800
17,249
22,168
-4,919
213,451
267,769
-54,318
49,736
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
86,566
b
5,014
c
4,005
d
7,597
e
5,561
15,524
7,411
-652
-714
12
-335
34
-1,417
-42
-361
-68
1,215
6,448
-62
-269
-1,049
-30
157
144
-252
244
7,095
-20
-1,723
-723
-505
-633
28
233
9,885
1,525
5
575
292
1,463
116
20
113
-59
60
-104
3,874
1,119
264
20,305
-6
-70
188
-103
3,066
69
513
76
-151
130
588
-1,695
-103
151
45
60
2,369
32
1,512
-14
319
34
594
3,763
1,666
6,579
2,441
255
4,267
173
448
-329
155
115
-107
3,358
270
210
-377
48
2,357
2,437
-43
2,148
917
690
1,984
105
1,780
130
-36
1,731
2,559
-588
-42
12,746
-565
11,893
2,634
-246
-1,333
-238
-1,643
-5
-158
1,654
6
-815
948
637
-19
1,843
-110
81
3,176
-13,797
11,230
4,650
7,385
-4,464
218
-5,874
8,967
392
-623
-132
-13,556
-6,092
-1,475
-282
-509
-147
167
-452
-252
-433
-340
-1
-89,800
-4,919
-54,318
2
Capital gain net income or (net capital loss)
If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
2
140,319
3
Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8
...................
3
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)
If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
Yes
No
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1
Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in)
(b)
Adjusted qualifying distributions
(c)
Net value of noncharitable-use assets
(d)
Distribution ratio
(col. (b) divided by col. (c))
2017
2016
2015
2014
2013
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 5.0, 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 2018 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
(2018)
Form 990-PF (2018)
Page
4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a
Exempt operating foundations described in section 4940(d)(2), check here
and enter “N/A" on line 1.
Date of ruling or determination letter:
(attach copy of letter if necessary–see instructions)
b
Domestic foundations that meet the section 4940(e) requirements in Part V, check
1
3,713
here
and 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
3,713
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
3,713
6
Credits/Payments:
a
2018 estimated tax payments and 2017 overpayment credited to 2018
6a
4,340
b
Exempt foreign organizations—tax withheld at source
......
6b
c
Tax paid with application for extension of time to file (Form 8868)
...
6c
0
d
Backup withholding erroneously withheld
...........
6d
7
Total credits and payments. Add lines 6a through 6d
..............
7
4,340
8
Enter any
penalty
for underpayment of estimated tax.
Check here
if Form 2220 is attached.
8
0
9
Tax due.
If the total of lines 5 and 8 is more than line 7, enter
amount owed
.......
9
10
Overpayment.
If line 7 is more than the total of lines 5 and 8, enter the
amount overpaid
...
10
627
11
Enter the amount of line 10 to be:
Credited to 2019 estimated tax
627
Refunded
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.
$
(2)
On foundation managers.
$
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.
$
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)
PA
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 2018 or the taxable year beginning in 2018? See the 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
(2018)
Form 990-PF (2018)
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 address
14
The books are in care of
Branch Banking and Trust Co
Telephone no.
(610) 371-2091
Located at
1340 BROADCASTING ROAD SUITE 100
WYOMISSING
PA
ZIP+4
19610
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of
Form 1041
—check here
.........
and enter the amount of tax-exempt interest received or accrued during the year
........
15
16
At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over
Yes
No
a bank, securities, or other financial account in a foreign country?
.................
16
No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country
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?
Yes
No
(2)
Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person?
......................
Yes
No
(3)
Furnish goods, services, or facilities to (or accept them from) a disqualified person?
Yes
No
(4)
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
Yes
No
(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)?
...............
Yes
No
(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.)
.......
Yes
No
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
Organizations relying on a current notice regarding disaster assistance check here
........
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 2018?
.............
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 2018, did the foundation have any undistributed income (lines 6d
and 6e, Part XIII) for tax year(s) beginning before 2018?
.............
Yes
No
If "Yes," list the years
20
,
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.
20
,
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?
......................
Yes
No
b
If "Yes," did it have excess business holdings in 2018 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 2018.)
..................
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 2018?
4b
No
Form
990-PF
(2018)
Form 990-PF (2018)
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:
Yes
No
(1)
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
Yes
No
(2)
Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive?
.............
Yes
No
(3)
Provide a grant to an individual for travel, study, or other similar purposes?
Yes
No
(4)
Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions
................
Yes
No
(5)
Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals?
.....
Yes
No
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
Organizations relying on a current notice regarding disaster assistance check here
.........
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?
..........
Yes
No
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?
.....................
Yes
No
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?
Yes
No
b
If yes, did the foundation receive any proceeds or have any net income attributable to the transaction?
....
7b
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year?
.................
Yes
No
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
Branch Banking and Trust Co
Trustee
5
41,815
1340 Broadcasting Road Suite 100
Wyomissing
,
PA
19610
2
Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a)
Name and address of each employee paid more than $50,000
(b)
Title, and average
hours per week
devoted to position
(c)
Compensation
(d)
Contributions to
employee benefit
plans and deferred
compensation
(e)
Expense account,
other allowances
NONE
Total
number of other employees paid over $50,000
...................
0
Form
990-PF
(2018)
Form 990-PF (2018)
Page
7
Part VIII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
(continued)
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
.............
0
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
SCHOLARSHIP NEW YORK FILM ACADEMY
7,490
2
SCHOLARSHIP TO RIDER UNIVERSITY
19,630
3
SCHOLARSHIP TO CATHOLIC UNIVERSITY OF AMERICA
5,840
4
SCHOLARSHIP TO SCAD
10,950
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
.........................
Form
990-PF
(2018)
Form 990-PF (2018)
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
3,776,844
b
Average of monthly cash balances
.......................
1b
97,062
c
Fair market value of all other assets (see instructions)
................
1c
0
d
Total
(add lines 1a, b, and c)
.........................
1d
3,873,906
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
3,873,906
4
Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
instructions)
.............................
4
58,109
5
Net value of noncharitable-use assets.
Subtract line 4 from line 3. Enter here and on Part V, line 4
5
3,815,797
6
Minimum investment return.
Enter 5% of line 5
..................
6
190,790
Part XI
Distributable Amount
(see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here
and do not complete this part.)
1
Minimum investment return from Part X, line 6
....................
1
190,790
2a
Tax on investment income for 2018 from Part VI, line 5
......
2a
3,713
b
Income tax for 2018. (This does not include the tax from Part VI.)
...
2b
c
Add lines 2a and 2b
............................
2c
3,713
3
Distributable amount before adjustments. Subtract line 2c from line 1
............
3
187,077
4
Recoveries of amounts treated as qualifying distributions
................
4
0
5
Add lines 3 and 4
............................
5
187,077
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
187,077
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
223,554
b
Program-related investments—total from Part IX-B
..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes
...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)
....................
3a
0
b
Cash distribution test (attach the required schedule)
.................
3b
0
4
Qualifying distributions.
Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
4
223,554
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
223,554
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
(2018)
Form 990-PF (2018)
Page
9
Part XIII
Undistributed Income
(see instructions)
(a)
Corpus
(b)
Years prior to 2017
(c)
2017
(d)
2018
1
Distributable amount for 2018 from Part XI, line 7
187,077
2
Undistributed income, if any, as of the end of 2018:
a
Enter amount for 2017 only
.......
31,455
b
Total for prior years:
20
,
20
,
20
0
3
Excess distributions carryover, if any, to 2018:
a
From 2013
......
0
b
From 2014
......
0
c
From 2015
......
0
d
From 2016
......
0
e
From 2017
......
0
f
Total
of lines 3a through e
........
0
4
Qualifying distributions for 2018 from Part
XII, line 4:
$
223,554
a
Applied to 2017, but not more than line 2a
31,455
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 2018 distributable amount
.....
187,077
e
Remaining amount distributed out of corpus
5,022
5
Excess distributions carryover applied to 2018.
0
0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6
Enter the net total of each column as
indicated below:
a
Corpus. Add lines 3f, 4c, and 4e. Subtract line 5
5,022
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 2017. Subtract line
4a from line 2a. Taxable amount—see
instructions
.............
0
f
Undistributed income for 2018. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2019
..........
0
7
Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions)
.......
0
8
Excess distributions carryover from 2013 not
applied on line 5 or line 7 (see instructions)
...
0
9
Excess distributions carryover to 2019.
Subtract lines 7 and 8 from line 6a
......
5,022
10
Analysis of line 9:
a
Excess from 2014
....
0
b
Excess from 2015
....
0
c
Excess from 2016
....
0
d
Excess from 2017
....
0
e
Excess from 2018
....
5,022
Form
990-PF
(2018)
Form 990-PF (2018)
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 2018, enter the date of the ruling
.......
b
Check box to indicate whether the organization is a private operating foundation described in section
4942(j)(3)
or
4942(j)(5)
2a
Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part X for each
year listed
..........
Tax year
Prior 3 years
(e) Total
(a)
2018
(b)
2017
(c)
2016
(d)
2015
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 foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1
Information Regarding Foundation Managers:
a
List 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).)
b
List 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.
2
Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here
if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
a
The name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Hughes Scholarship Foundations
2201 Ridgewood Road Suite 180
Wyomissing
,
PA
19610
(610) 372-6414
b
The form in which applications should be submitted and information and materials they should include:
Complete written scholarship application. Include high school transcript, verification of enrollment and certification of acceptance to Institution for which you are requesting award
c
Any submission deadlines:
March 1
d
Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Award is for tuition only
Form
990-PF
(2018)
Form 990-PF (2018)
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)
a
Paid during the year
HUGHES SCHOLARSHIP FOUNDATION
C/O NATIONAL PENN INVESTORS TRUST
1340 BROADCASTING ROAD SUITE 100
WYOMISSING
,
PA
19610
NONE
EXEMPT
ACADEMIC SCHOLARSHIPS
181,739
Total
.................................
3a
181,739
b
Approved for future payment
Total
.................................
3b
Form
990-PF
(2018)
Form 990-PF (2018)
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.)
1
Program service revenue:
(a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
g
Fees and contracts from government agencies
2
Membership dues and assessments
....
3
Interest on savings and temporary cash
investments
...........
4
Dividends and interest from securities
....
14
90,037
5
Net rental income or (loss) from real estate:
a
Debt-financed property
......
b
Not 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
140,319
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)
..
230,356
13
Total.
Add line 12, columns (b), (d), and (e)
..................
13
230,356
(See worksheet in line 13 instructions to verify calculations.)
Part XVI-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form
990-PF
(2018)
Form 990-PF (2018)
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) (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) (other than section 501(c)(3)) or in section 527?
...........
Yes
No
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.
May the IRS discuss this return
with the preparer shown below
(see instr.)?
Yes
No
Signature of officer or trustee
Date
Title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's Signature
Date
Check if self-
employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Form
990-PF
(2018)
Additional Data
Software ID:
Software Version:
Form 990PF - Special Condition Description:
Special Condition Description
-
TIN:
TY 2018 OtherDecreasesSchedule
Name:
W MARSHALL HUGHES JR SCHOLARSHIP FUND
EIN:
23-6934996
Description
Amount
ROUNDING
11