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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
BAILEY ENDOWMENT INC
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 10788
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RALEIGH, NC27605
A Employer identification number

56-1802700
B Telephone number (see instructions)

(919) 749-5254
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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$3,401,062J 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) 1,666,992
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,315 1,315 1,315
4 Dividends and interest from securities... 55,514 55,514 55,514
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 135,165
b Gross sales price for all assets on line 6a 988,793
7 Capital gain net income (from Part IV, line 2)... 135,947
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 10   10
12 Total. Add lines 1 through 11........ 1,858,996 192,776 56,839
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,054 200    
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,073 3,073    
19 Depreciation (attach schedule) and depletion... Click to see attachment 63    
20 Occupancy..............        
21 Travel, conferences, and meetings....... 378      
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 24,411 18,196    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 30,979 21,469   0
25 Contributions, gifts, grants paid....... 125,058 125,058
26 Total expenses and disbursements. Add lines 24 and 25 156,037 21,469   125,058
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,702,959
b Net investment income (if negative, enter -0-) 171,307
c Adjusted net income (if negative, enter -0-)... 56,839
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
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 45,125 263,819 263,819
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.......... 4,584 2,620 2,620
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,663,445 Click to see attachment3,146,747 3,105,598
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).......... 26,035 Click to see attachment26,574 26,574
14 Land, buildings, and equipment: basis bullet1,307
Less: accumulated depreciation (attach schedule) bullet1,307 63    
15 Other assets (describe bullet)   Click to see attachment2,451 Click to see attachment2,451
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,739,252 3,442,211 3,401,062
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
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 bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 1,739,252 3,442,211
30 Total net assets or fund balances (see instructions)..... 1,739,252 3,442,211
31 Total liabilities and net assets/fund balances (see instructions). 1,739,252 3,442,211
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
1,739,252
2
Enter amount from Part I, line 27a .....................
2
1,702,959
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
3,442,211
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
3,442,211
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 BANK OF AMERICA P 2017-08-30 2018-01-05
b SPDR GOLD P 2017-09-05 2018-03-28
c SPDR GOLD P 2017-09-05 2018-07-16
d ROYAL CARRIBEAN P 2017-12-22 2018-09-27
e KEY CORP P 2018-06-15 2018-10-03
WASTE MGMT P 2018-06-15 2018-10-03
DXC TECHNOLOGY P 2018-06-14 2018-12-19
CITIZENS P 2016-12-01 2018-01-05
UBS E-TRACTS P 2015-01-16 2018-03-28
STANLEY BLACK & DECKER P 2015-08-20 2018-06-14
ISHARES P 2011-09-15 2018-07-16
SYSCO P 2016-09-26 2018-09-06
BANK OF AMERICA P 2016-09-26 2018-10-03
DOUBLELINE P 2017-09-05 2018-10-03
PACKING CORP P 2016-09-26 2018-10-03
T-MOBILE P 2017-04-24 2018-10-03
AMERICAN TOWER P 2016-12-15 2018-12-19
CITIZENS P 2017-06-29 2018-01-05
VANGUARD P 2017-12-19 2018-03-28
BEST BUY P 2018-03-27 2018-09-06
AT&T P 2018-09-27 2018-10-03
KIMBERLY CLARK P 2018-06-15 2018-10-03
WASTE MGMT P 2018-06-14 2018-10-03
DXC TECHNOLOGY P 2018-06-14 2018-12-19
JUNIPER P 2016-11-30 2018-01-05
UBS E-TRACTS P 2014-12-15 2018-03-28
UNITEDHEALTH P 2016-06-02 2018-06-14
ABBVIE P 2013-04-03 2018-09-06
CDW CORP P 2014-11-25 2018-09-27
BOEING P 2013-06-24 2018-10-03
EXELON P 2016-08-09 2018-10-03
PFIZER P 2015-08-20 2018-10-03
UNITEDHEALTH P 2016-06-02 2018-10-03
AMERICAN TOWER P 2016-12-15 2018-12-19
CORNING P 2017-06-29 2018-01-05
CHEVRON P 2017-12-22 2018-06-14
KIMBERLY CLARK P 2018-06-15 2018-09-06
AMERICAN EXPRESS P 2018-06-14 2018-10-03
MICROCHIP TECHNOLOGY P 2018-06-14 2018-10-03
WELLCARE P 2018-09-06 2018-10-03
KEY CORP P 2018-06-15 2018-12-19
JUNIPER P 2016-12-01 2018-01-05
UBS E-TRACTS P 2016-10-18 2018-03-28
VALERO P 2017-02-28 2018-06-14
APPLE P 2013-02-07 2018-09-06
MICROSOFT P 2015-05-22 2018-09-27
BROADRIDGE P 2015-01-09 2018-10-03
EXXON P 2013-04-03 2018-10-03
PFIZER P 2015-08-20 2018-10-03
VALERO P 2017-02-28 2018-10-03
CDW P 2014-11-25 2018-12-19
JP MORGAN P 2017-08-29 2018-01-05
CITIGROUP P 2018-01-05 2018-06-14
NORKOLK SOUTHERN P 2018-06-15 2018-09-06
AMGEN P 2017-12-22 2018-01-03
MICROCHIP TECHNOLOGY P 2018-06-14 2018-10-03
COHEN & STEERS P 2018-06-21 2018-10-12
KEY CORP P 2018-06-15 2018-12-19
JUNIPER P 2016-12-01 2018-01-08
BOEING P 2015-08-20 2018-06-14
CHUBB LIMITED P 2016-11-03 2018-06-14
BAXTER P 2017-03-30 2018-09-06
ROYAL CARRIBEAN P 2014-03-12 2018-09-27
BROADRIDGE P 2015-01-08 2018-10-03
FACEBOOK P 2016-08-09 2018-10-03
PROLOGIS P 2016-02-03 2018-10-03
ROYAL CARRIBEAN P 2014-03-12 2018-10-03
INTEL CORP P 2017-08-29 2018-12-19
JUNIPER P 2017-08-30 2018-01-05
INTEL P 2017-08-29 2018-06-14
PHILIP MORRIS P 2017-12-22 2018-09-06
BEST BUY P 2018-03-27 2018-10-03
MICROCHIP TEECHNOLOGY P 2018-06-15 2018-10-03
ISHARES S&P P 2018-06-21 2018-10-21
MICROCHIP P 2018-06-14 2018-12-19
DR. PEPPER P 2016-09-26 2018-03-27
BOEING P 2013-06-24 2018-06-14
CHUBB LIMITED P 2016-06-03 2018-06-14
BAXTER P 2017-03-30 2018-09-06
STARWOOD P 2017-06-29 2018-09-28
BROADRIDGE P 2015-01-08 2018-10-03
INTEL CORP P 2017-08-29 2018-10-03
PRUDENTIAL P 2017-08-29 2018-10-03
ROYAL CARRIBEAN P 2014-03-12 2018-10-03
PFIZER P 2015-08-20 2018-12-19
MORGAN STANLEY P 2017-08-30 2018-01-05
MASTERCARD P 2017-09-29 2018-06-14
PHILIP MORRIS P 2018-06-14 2018-09-06
BRISTOL P 2018-09-06 2018-10-03
NETAPP INC P 2018-09-06 2018-10-03
NORTHERN FDS P 2018-07-16 2018-10-12
MICROCHIP P 2018-06-15 2018-12-19
HONEYWELL P 2016-06-03 2018-03-27
CDW P 2014-11-25 2018-06-14
CHUBB LIMITED P 2016-06-06 2018-06-14
BROADRIDGE P 2017-02-28 2018-09-06
AT&T P 2013-09-05 2018-10-03
BROADRIDGE P 2015-01-09 2018-10-03
JP MORGAN P 2016-02-03 2018-10-03
PRUDENTIAL P 2017-06-29 2018-01-03
AMERICAN BEACON P 2015-05-07 2018-10-12
PRUDENTIAL P 2017-06-29 2018-01-05
PERSPECTA P 2018-01-08 2018-06-14
WASTE MGMT P 2018-06-15 2018-09-06
CATERPILLAR P 2018-03-27 2018-10-03
NORFOLK SOUTHERN CORP P 2018-06-15 2018-10-03
PRINCIPAL SHORT P 2017-12-19 2018-10-12
MICROCHIP P 2018-06-15 2018-12-19
INGREDION P 2017-02-28 2018-03-27
DR. PEPPER P 2016-09-26 2018-06-14
STANLEY BLACK & DECKER P 2015-08-20 2018-06-15
BROADRIDGE P 2015-01-18 2018-09-06
AT&T P 2015-05-11 2018-10-03
CDW P 2014-11-25 2018-10-03
JOHNSON & JOHNSON P 2016-09-26 2018-10-03
PRUDENTIAL P 2016-12-14 2018-10-03
BLACKROCK P 2013-05-06 2018-10-12
CHUBB LIMITED P 2017-08-29 2018-01-05
PERSPECTA P 2018-01-15 2018-06-14
TE CONNECTIVITY P 2018-01-08 2018-09-06
CISCO SYSTEM P 2018-03-27 2018-10-03
ONEOK INC P 2018-06-15 2018-10-03
T ROWE PRICE P 2017-12-19 2018-10-12
NETAPP P 2018-09-06 2018-12-19
INGREDION P 2016-08-09 2018-03-27
DR. PEPPER P 2014-11-24 2018-06-14
HOTCHKIS & WILEY P 2013-05-10 2018-06-21
JP MORGAN P 2016-02-03 2018-09-06
ALPHABET CAP P 2015-09-25 2018-10-03
CENTERPOINT P 2017-06-29 2018-10-03
JOHNSON & JOHNSON P 2013-06-24 2018-10-03
PRUDENTIAL P 2016-12-14 2018-10-03
DOUBLELINE P 2017-09-05 2018-10-12
JUNIPER P 2017-12-22 2018-01-08
STEEL DYNAMICS P 2018-03-27 2018-06-14
TE CONNECTIVITY P 2018-01-05 2018-09-06
DXC TECHNOLOGY P 2018-01-08 2018-10-03
PRUDENTIAL P 2018-09-06 2018-10-03
VANGUARD P 2017-12-19 2018-10-12
NETAPP P 2018-09-06 2018-12-19
INGREDION P 2016-08-09 2018-03-27
DR. PEPPER P 2014-11-24 2018-06-14
TCW EMERGING P 2016-10-18 2018-06-21
LAM RESH P 2015-08-21 2018-09-06
AMERICAN TOWER P 2016-12-15 2018-10-03
CHEVRON P 2013-09-05 2018-10-03
KIMBERLY CLARK P 2013-09-05 2018-10-03
STARWOOD P 2017-06-29 2018-10-03
HOTCHKIS & WILEY P 2013-05-10 2018-10-12
AVERY DENNISON P 2017-09-28 2018-03-27
CHUBB LIMITED P 2017-12-22 2018-06-14
CISCO SYSTEM P 2018-03-27 2018-09-27
DXC TECHNOLOGY P 2018-01-05 2018-10-03
STEEL DYNAMICS P 2018-03-27 2018-10-03
WELLS FARGO P 2017-12-19 2018-10-12
TARGET P 2018-09-06 2018-12-19
INGREDION P 2016-08-10 2018-03-27
EXXON P 2015-08-20 2018-06-14
UBS E-TRACS P 2016-10-18 2018-06-21
LEAR CORP P 2015-12-07 2018-09-06
AMERICAN TOWER P 2016-12-15 2018-10-03
CITIZENS P 2016-12-01 2018-10-03
MASTERCARD P 2017-09-28 2018-10-03
STARWOOD P 2016-12-14 2018-10-03
HOTCHKIS & WILEY P 2012-07-30 2018-10-12
AVERY DENNISON P 2017-09-29 2018-03-27
CHUBB LIMITED P 2017-08-29 2018-06-14
CISCO SYSTEM P 2018-03-27 2018-09-27
DELTA AIR LINES P 2018-03-27 2018-10-03
TARGET P 2018-09-06 2018-10-03
OPPENHEIMER P 2018-10-12 2018-11-14
TARGET P 2018-09-06 2018-12-19
INGREDION P 2016-08-10 2018-03-27
EXXON P 2013-04-03 2018-06-14
VANGUARD P 2011-09-15 2018-06-21
LEAR CORP P 2015-12-17 2018-09-06
AMERICAN TOWER P 2016-12-15 2018-10-03
CITIZENS P 2016-12-01 2018-10-03
MICROSOFT P 2015-05-22 2018-10-03
STARWOOD P 2016-12-15 2018-10-03
OPPEHHEIMER P 2013-10-15 2018-10-12
FEDEX P 2017-12-22 2018-03-27
HOME DEPOT P 2017-12-22 2018-06-15
DXC TECHNOLOGY P 2018-01-08 2018-09-27
EXXON MOBIL P 2017-12-22 2018-10-03
TYSON FOODS P 2018-03-27 2018-10-03
OPPENHEIMER P 2018-06-21 2018-11-14
WASTE MGMT P 2018-06-15 2018-12-19
BROADCOM P 2016-06-02 2018-03-27
MICROSOFT P 2015-05-22 2018-06-14
SEAFARER P 2015-10-02 2018-07-16
LEAR CORP P 2015-12-17 2018-09-06
AMGEN P 2016-11-30 2018-10-03
CITIZENS P 2016-12-02 2018-10-03
MORGAN STANLEY P 2017-08-30 2018-10-03
STARWOOD P 2016-12-15 2018-10-03
PRINCIPAL SHORT P 2016-12-14 2018-10-12
PVH P 2017-08-30 2018-03-27
ISHARES P 2018-03-28 2018-06-21
HOME DEPOT P 2017-12-22 2018-09-27
HOME DEPOT P 2017-12-22 2018-10-03
TYSON FOODS P 2018-03-27 2018-10-03
COMCAST P 2018-09-27 2018-12-19
WASTE MGMT P 2018-06-14 2018-12-19
SEAFARER P 2016-05-10 2018-03-28
OWENS CORNING P 2016-09-26 2018-06-14
ISHARES P 2016-08-23 2018-07-16
MICROSOFT P 2015-05-22 2018-09-06
AMGEN P 2013-04-03 2018-10-03
COMCAST P 2016-09-26 2018-10-03
MORGAN STANLEY P 2016-12-01 2018-10-03
STRYKER P 2016-09-26 2018-10-03
T ROWE PRICE P 2013-10-23 2018-10-12
BROADCOM P 2017-12-22 2018-03-27
UBS E-TRACS P 2017-09-05 2018-06-21
MASTERCARD P 2017-09-29 2018-09-27
INTEL P 2018-09-06 2018-10-03
VISA INC P 2018-09-06 2018-10-03
DXC TECHNOLOGY P 2018-01-05 2018-12-19
SPDR GOLD P 2017-09-05 2018-12-31
SEAFARER P 2015-10-02 2018-03-28
OWENS CORNING P 2016-09-27 2018-06-14
ISHARES P 2015-05-07 2018-07-16
PHILIP MORRIS P 2017-08-29 2018-09-06
APPLE P 2013-02-07 2018-10-03
COMCAST P 2013-11-27 2018-10-03
MORGAN STANLEY P 2016-12-02 2018-10-03
STRYKER P 2016-06-02 2018-10-03
VANGUARD P 2016-12-01 2018-10-12
SEAFARER P 2017-12-19 2018-03-28
VANGUARD P 2017-12-19 2018-06-21
MASTERCARD P 2017-09-28 2018-09-27
JOHNSON & JOHNSON P 2018-09-06 2018-10-03
WALMART P 2018-09-06 2018-10-03
DXC TECHNOLOGY P 2018-01-05 2018-12-19
BANK OF AMERICA P 2016-09-26 2018-01-05
TCW EMERGING P 2016-10-18 2018-03-28
OWENS CORNING P 2016-11-30 2018-06-14
ISHARES P 2013-02-07 2018-07-16
SYSCO P 2017-06-29 2018-09-06
APPLE P 2011-09-16 2018-10-03
DR HORTON P 2015-08-21 2018-10-03
PVH CORP P 2017-08-30 2018-10-03
SYSCO P 2016-09-26 2018-10-03
PVH CORP P 2017-08-30 2018-11-28
(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 993   4,385 -3,392
b 8,054   8,158 -104
c 9,162   9,929 -767
d 905   847 58
e 3,664   3,714 -50
3,669   3,442 227
829   1,266 -437
526   417 109
354   661 -307
2,281   1,682 599
30,909   13,428 17,481
974   637 337
4,081   2,097 1,984
4,883   5,120 -237
2,436   1,886 550
4,402   4,179 223
487   319 168
833   685 148
42,913   43,853 -940
715   619 96
1,996   1,974 22
1,013   921 92
447   418 29
940   1,434 -494
286   275 11
7,537   13,716 -6,179
1,530   815 715
8,146   3,534 4,612
797   315 482
4,715   1,168 3,547
3,094   2,612 482
581   462 119
4,605   2,309 2,296
650   425 225
8,656   7,776 880
2,023   2,003 20
804   716 88
4,452   4,087 365
2,361   2,361  
4,732   4,666 66
2,883   3,980 -1,097
1,173   1,120 53
4,830   6,405 -1,575
3,502   2,038 1,464
1,357   400 957
801   330 471
1,686   607 1,079
689   725 -36
4,334   3,384 950
3,242   1,834 1,408
1,018   420 598
1,299   1,095 204
7,023   7,975 -952
1,050   923 127
827   705 122
226   308 -82
1,883   2,009 -126
2,838   3,919 -1,081
5,091   4,917 174
1,084   415 669
130   128 2
6,080   4,282 1,798
775   307 468
389   140 249
3,564   2,768 796
2,575   1,537 1,038
3,204   1,278 1,926
1,848   1,355 493
1,059   1,013 46
1,273   799 474
787   1,051 -264
3,756   3,440 316
2,034   2,745 -711
5,765   6,046 -281
1,364   2,015 -651
1,770   1,371 399
722   195 527
2,601   2,547 54
3,263   2,286 977
1,221   1,278 -57
1,167   420 747
2,973   2,120 853
615   609 6
384   152 232
1,449   1,186 263
1,057   914 143
1,794   1,270 524
1,890   1,938 -48
4,762   4,650 112
4,377   4,269 108
3,158   3,317 -159
2,585   3,660 -1,075
8,015   6,249 1,766
1,172   490 682
3,381   3,309 72
679   348 331
2,267   2,255 12
1,037   374 663
3,682   1,816 1,866
308   326 -18
7,141   6,760 381
932   870 62
350   404 -54
913   839 74
4,430   4,186 244
4,553   3,845 708
10,404   10,525 -121
2,370   3,355 -985
775   731 44
241   183 58
4,918   3,679 1,239
2,988   1,028 1,960
203   201 2
4,145   1,646 2,499
1,112   946 166
820   834 -14
17,948   19,138 -1,190
861   851 10
643   735 -92
4,396   4,874 -478
4,224   3,785 439
3,213   3,213  
12,783   11,100 1,683
3,292   4,436 -1,144
258   280 -22
3,257   1,961 1,296
4,014   4,473 -459
686   340 346
4,838   2,581 2,257
2,586   2,617 -31
2,780   1,705 1,075
1,146   1,146  
9,650   10,118 -468
990   1,011 -21
926   837 89
3,589   3,968 -379
1,311   1,226 85
1,128   1,100 28
51,816   54,085 -2,269
3,354   4,520 -1,166
1,807   1,931 -124
3,016   1,815 1,201
3,363   3,577 -214
7,564   3,334 4,230
863   638 225
3,255   3,160 95
2,589   2,031 558
43   45 -2
3,121   3,510 -389
2,740   2,598 142
910   1,018 -108
48   44 4
2,716   2,517 199
2,676   2,554 122
7,141   7,228 -87
3,054   4,208 -1,154
3,486   3,724 -238
818   754 64
6,426   7,703 -1,277
956   758 198
1,582   1,169 413
389   347 42
4,016   2,522 1,494
554   578 -24
9,239   9,675 -436
3,478   3,270 208
130   142 -12
1,111   1,012 99
4,402   4,481 -79
3,966   4,118 -152
2,295   2,412 -117
3,119   4,297 -1,178
129   136 -7
736   816 -80
32,085   20,049 12,036
797   629 168
144   106 38
1,749   1,544 205
4,149   1,698 2,451
2,111   2,168 -57
3,041   3,113 -72
8,060   8,526 -466
996   939 57
1,592   1,489 103
2,755   2,682 73
2,541   2,541  
9,570   9,787 -217
178   168 10
7,529   4,637 2,892
1,214   566 648
17,658   15,074 2,584
6,375   5,008 1,367
1,241   871 370
1,282   1,127 155
283   274 9
895   918 -23
47,405   47,839 -434
1,147   1,015 132
9,900   10,043 -143
827   751 76
3,676   3,379 297
1,419   1,794 -375
933   920 13
1,067   1,003 64
11,587   9,620 1,967
257   220 37
8,375   6,610 1,765
650   283 367
2,689   1,365 1,324
1,473   1,407 66
661   588 73
700   470 230
1,692   1,301 391
753   788 -35
4,652   5,048 -396
223   141 82
1,560   1,527 33
4,933   4,733 200
1,548   2,430 -882
31   31  
1,618   1,253 365
5,019   4,214 805
22,135   16,628 5,507
4,488   6,652 -2,164
1,160   333 827
2,736   1,933 803
2,407   2,120 287
3,852   2,477 1,375
3,866   3,583 283
6,100   6,100  
15,443   16,377 -934
1,558   981 577
695   678 17
3,577   3,656 -79
1,603   2,517 -914
241   123 118
9,622   9,680 -58
837   670 167
42,874   23,727 19,147
899   600 299
3,248   797 2,451
3,398   2,552 846
3,330   3,044 286
3,554   2,400 1,154
3,102   3,552 -450
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       -3,392
b       -104
c       -767
d       58
e       -50
      227
      -437
      109
      -307
      599
      17,481
      337
      1,984
      -237
      550
      223
      168
      148
      -940
      96
      22
      92
      29
      -494
      11
      -6,179
      715
      4,612
      482
      3,547
      482
      119
      2,296
      225
      880
      20
      88
      365
       
      66
      -1,097
      53
      -1,575
      1,464
      957
      471
      1,079
      -36
      950
      1,408
      598
      204
      -952
      127
      122
      -82
      -126
      -1,081
      174
      669
      2
      1,798
      468
      249
      796
      1,038
      1,926
      493
      46
      474
      -264
      316
      -711
      -281
      -651
      399
      527
      54
      977
      -57
      747
      853
      6
      232
      263
      143
      524
      -48
      112
      108
      -159
      -1,075
      1,766
      682
      72
      331
      12
      663
      1,866
      -18
      381
      62
      -54
      74
      244
      708
      -121
      -985
      44
      58
      1,239
      1,960
      2
      2,499
      166
      -14
      -1,190
      10
      -92
      -478
      439
       
      1,683
      -1,144
      -22
      1,296
      -459
      346
      2,257
      -31
      1,075
       
      -468
      -21
      89
      -379
      85
      28
      -2,269
      -1,166
      -124
      1,201
      -214
      4,230
      225
      95
      558
      -2
      -389
      142
      -108
      4
      199
      122
      -87
      -1,154
      -238
      64
      -1,277
      198
      413
      42
      1,494
      -24
      -436
      208
      -12
      99
      -79
      -152
      -117
      -1,178
      -7
      -80
      12,036
      168
      38
      205
      2,451
      -57
      -72
      -466
      57
      103
      73
       
      -217
      10
      2,892
      648
      2,584
      1,367
      370
      155
      9
      -23
      -434
      132
      -143
      76
      297
      -375
      13
      64
      1,967
      37
      1,765
      367
      1,324
      66
      73
      230
      391
      -35
      -396
      82
      33
      200
      -882
       
      365
      805
      5,507
      -2,164
      827
      803
      287
      1,375
      283
       
      -934
      577
      17
      -79
      -914
      118
      -58
      167
      19,147
      299
      2,451
      846
      286
      1,154
      -450
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 2 135,947
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 -16,569
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))
2017 114,171 1,985,217 0.057511
2016 111,888 1,873,662 0.059716
2015 66,300 1,658,825 0.039968
2014 75,800 1,493,263 0.050761
2013 79,276 1,222,398 0.064853
2
Total of line 1, column (d) .....................
2
0.272809
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
0.054562
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
1,982,982
5
Multiply line 4 by line 3......................
5
108,195
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,713
7
Add lines 5 and 6........................
7
109,908
8
Enter qualifying distributions from Part XII, line 4,.............
8
125,058
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 Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Domestic foundations that meet the section 4940(e) requirements in Part V, check 1 1,713
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  
3 Add lines 1 and 2........................... 3 1,713
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,713
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 4,584
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 4,584
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
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 2,871
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet2,871 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 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 addressbulletN/A
    14
    The books are in care ofbulletWILLIAM KNIGHT - EXECUTIVE DIRECTOR Telephone no.bullet (919) 749-5254

    Located atbulletPO BOX 10788RALEIGHNC ZIP+4bullet27605
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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 2018?.............
    1c
     
     
    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?.............
    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 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))?
    (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
     
     
    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? .................
    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
    HOYT G TESSNER PRESIDENT
    000.00     		0 0 0
    2105 PRESCOTT PLACE
    RALEIGH,NC27615
    MELANIE KNIGHT VP
    000.00     		0 0 0
    4017 LAKE POINT CIRCLE
    RALEIGH,NC27606
    CYNTHIA BUCKINGHAM VP
    000.00     		0 0 0
    7540 DRAYTON COURT
    RALEIGH,NC27615
    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  
    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.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    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
    1,866,078
    b
    Average of monthly cash balances.......................
    1b
    120,528
    c
    Fair market value of all other assets (see instructions)................
    1c
    26,574
    d
    Total (add lines 1a, b, and c).........................
    1d
    2,013,180
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    2,013,180
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    30,198
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,982,982
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    99,149
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    99,149
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,713
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,713
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    97,436
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    97,436
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    97,436
    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
    125,058
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    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
    125,058
    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
    1,713
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    123,345
    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 97,436
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 23,725
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 125,058
    a Applied to 2017, but not more than line 2a 23,725
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 97,436
    e Remaining amount distributed out of corpus 3,897
    5 Excess distributions carryover applied to 2018.    
    (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 3,897
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    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......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    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) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		3,897
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018.... 3,897
    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....... 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) 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.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    WILLIAM KNIGHT - EXECUTIVE DIRECTOR
    PO BOX 10788
    RALEIGH,NC27605
    (919) 749-5254
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS MUST BE WRITTEN, MUST INCLUDE EVIDENCE THAT THE RECEPIENT IS AN EXEMPT CHARTIABLE ORGANIZATION AND FACTS TO SUPPORT THE NEED.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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)
    aPaid during the year
    CAROLINA TIGER RESCUE
    1940 HANKS CHAPEL ROAD
    PITTSBORO,NC27312     		N/A 501(C)3 ANIMAL WELFARE 1,500
    DURHAM LITERACY CENTER
    PO BOX 52209
    DURHAM,NC27717     		N/A 501(C) ARTS & CULTURE 3,000
    EVERY TRAY COUNTS
    7701 STILL CROSSING ROAD
    CHAPEL HILL,NC27516     		N/A 501(C)3 ENVIRONMENT CONSERVATION 2,500
    FRIENDS OF FUNDAL
    PO BOX 99306
    RALEIGH,NC27624     		N/A 501(C)3 RELIEF SERVICES 500
    FRIENDS OF THE PARKS
    PO BOX 2753
    SHELBY,NC28151     		N/A 501(C)3 COMMUNITY DEVELOPMENT 500
    K RAY HILL MINISTRY
    PO BOX 25942
    RALEIGH,NC27611     		N/A 501(C)3 RELIGION 5,000
    NC VETERINARY MEDICAL FOUNDATION
    1060 WILLIAM MOORE DRIVE
    RALEIGH,NC27607     		N/A 501(C)3 ANIMAL WELFARE 6,558
    NOAH'S ARK WILDLIFE CENTER
    PO BOX 136
    SANDY RIDGE,NC27046     		N/A 501(C)3 ANIMAL WELFARE 5,000
    PENLAND SCHOOL OF CRAFTS
    PO BOX 37
    PENLAND,NC28765     		N/A 501(C)3 ANNUAL GIVING 3,000
    WILDLIFE WELFARE
    PO BOX 19432
    RALEIGH,NC27619     		N/A 501(C)3 ANIMAL WELFARE 7,000
    YMCA EAST RALEIGH
    801 CORPORATE CENTER DR
    RALEIGH,NC27607     		N/A 501(C)3 COMMUNITY DEVELOPMENT 4,000
    TEAM CHRIS COMBS
    PO BOX 6586
    RALEIGH,NC27628     		N/A 501(C)3 ONGOING PROGRAMS 5,000
    ARTS NC STATE
    CAMPUS BOX 7306
    RALEIGH,NC27695     		N/A 501(C)3 ONGOING PROGRAMS 5,000
    RESTORATION COMMUNITY CHURCH
    11001 RAVEN ROAD
    RALEIGH,NC27614     		N/A 501(C)3 ONGOING PROGRAMS 2,500
    SHOPSPACE
    PO BOX 10053
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAMS 16,000
    FAMILY PROMISE OF WAKE COUNTY
    903 METHOD RD
    RALEIGH,NC27606     		N/A 501(C)3 ONGOING PROGRAMS 5,000
    CLEVELAND VOLINTEER FIRE DEPT
    221 E GRAHAMM ST
    SHELBY,NC28150     		N/A 501(C)3 ONGOING PROGRAMS 3,000
    NCSU FOUNDATION
    CAMPUS BOX 7475
    RALEIGH,NC276957475     		N/A 501(C)3 ONGOING PROGRAMS 50,000
    Total .................................bullet 3a 125,058
    bApproved for future payment
    Total .................................bullet 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.)
    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 1,315  
    4 Dividends and interest from securities....     14 55,514  
    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 ............     		    14 135,947 -782
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aBELMONT 1 - US 321/74 BYPA     		    16 10  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   192,786 -782
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    192,004
    (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 (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? ...........
    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 (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    BAILEY ENDOWMENT INC
     
    Employer identification number

    56-1802700
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number
    56-1802700
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    JOSEPH M WRIGHT CHARITABLE FOUNDATI
     
    PO BOX 10788
     
    RALEIGH, NC27605

    		$ 1,664,541


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number

    56-1802700
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 SECURITIES $ 1,553,900 2018-12-31
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    BAILEY ENDOWMENT INC
          		Employer identification number

    56-1802700
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 2,854      
    ACCOUNTING FEES - FIFTH THIRD 200 200    

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

    TY 2018 DepreciationSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    LENOVO LAPTOP COMPUTER 2013-11-02 1,307 1,244 200DB 5.0000 63      

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

    TY 2018 GainLossSaleOtherAssetsSch
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    MICROCHIP 2018-06 PURCHASE 2018-12   1,652 2,434     -782  

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Name of Stock End of Year Book Value End of Year Fair Market Value
    FIFTH THIRD BANK - INVESTMENT ACCOUN 3,146,747 3,105,598

    TY 2018 InvestmentsOtherSchedule2
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    US 321 BYPASS LLC AT COST 26,574 26,574

    TY 2018 LandEtcSchedule2
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      1,307 1,307    


    TY 2018 OtherAssetsSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DEPOSIT ON LAND FROM WRIGHT ESTATE   2,451 2,451


    TY 2018 OtherExpensesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    MISCELLANEOUS EXPENSE FROM K-        
    MANAGEMENT FEES 18,196 18,196    
    OFFICE SUPPLIES 17      
    OUTSIDE CONTRACT SERVICES 5,700      
    POSTAGE 258      
    MISCELLANEOUS EXPENSE 236      
    ROUNDING 4      


    TY 2018 OtherIncomeSchedule2
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    BELMONT 1 - US 321/74 BYPASS 10   10


    TY 2018 TaxesSchedule
    Name:
    BAILEY ENDOWMENT INC
    EIN:
    56-1802700
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAX FROM K-1        
    FOREIGN TAX 1,109 1,109    
    EXCISE TAX 1,964 1,964