Form990-PF
Click to see attachment

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
John M Belk Endowment
 
Number and street (or P.O. box number if mail is not delivered to street address)4201 Congress Street
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Charlotte, NC28209
A Employer identification number

56-1954114
B Telephone number (see instructions)

(704) 943-4160
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$328,572,926J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 26 26  
4 Dividends and interest from securities... 1,348,535 1,348,535  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 13,758,016
b Gross sales price for all assets on line 6a 59,277,269
7 Capital gain net income (from Part IV, line 2)... 13,758,016
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 6,447,854 6,441,998  
12 Total. Add lines 1 through 11........ 21,554,431 21,548,575  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 48,789     48,789
14 Other employee salaries and wages...... 443,731     443,731
15 Pension plans, employee benefits....... 96,062     96,062
16a Legal fees (attach schedule)......... Click to see attachment 5,495     5,495
b Accounting fees (attach schedule)....... Click to see attachment 120,832 2,600   118,232
c Other professional fees (attach schedule).... Click to see attachment 1,429,348 667,660   761,688
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 135,795      
19 Depreciation (attach schedule) and depletion... Click to see attachment 59,423    
20 Occupancy.............. 10,421     10,421
21 Travel, conferences, and meetings....... 77,805     77,805
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 1,629,660 1,468,197   161,196
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 4,057,361 2,138,457   1,723,419
25 Contributions, gifts, grants paid....... 12,144,886 12,144,886
26 Total expenses and disbursements. Add lines 24 and 25 16,202,247 2,138,457   13,868,305
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,352,184
b Net investment income (if negative, enter -0-) 19,410,118
c Adjusted net income (if negative, enter -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
Assets 1 Cash—non-interest-bearing............. 670,423 615,941 615,941
2 Savings and temporary cash investments......... 1,064,859 2,523,467 2,523,467
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 26,244,234 Click to see attachment14,979,135 19,574,813
c Investments—corporate bonds (attach schedule)....... 34,498,988 Click to see attachment23,696,663 23,524,563
11 Investments—land, buildings, and equipment: basis bullet41,466,994
Less: accumulated depreciation (attach schedule) bullet   41,466,994 Click to see attachment41,466,994 23,920,000
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 224,666,856 Click to see attachment250,771,410 257,936,246
14 Land, buildings, and equipment: basis bullet746,878
Less: accumulated depreciation (attach schedule) bullet280,981 525,320 Click to see attachment465,897 465,897
15 Other assets (describe bullet) Click to see attachment28,934 Click to see attachment11,999 Click to see attachment11,999
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 329,166,608 334,531,506 328,572,926
Liabilities 17 Accounts payable and accrued expenses.......... 6,058 18,772
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)......... 6,058 18,772
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 329,160,550 334,512,734
30 Total net assets or fund balances (see instructions)..... 329,160,550 334,512,734
31 Total liabilities and net assets/fund balances (see instructions). 329,166,608 334,531,506
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
329,160,550
2
Enter amount from Part I, line 27a .....................
2
5,352,184
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
334,512,734
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
334,512,734
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 Publicly traded securities      
b Passthrough K-1 capital gain      
c Capital gain distributions      
d Sale of Emerg Mkts Index Non-Lendable Fd P 2018-01-01 2018-02-02
e Equity Index Non-Lendable Fund B P 2018-01-01 2018-01-01
(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 43,243,039   41,813,878 1,429,161
b 10,823,303     10,823,303
c 462,757     462,757
d 275,193   170,133 105,060
e 4,472,977   3,535,242 937,735
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       1,429,161
b       10,823,303
c       462,757
d       105,060
e       937,735
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 13,758,016
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 4,438,602 331,146,866 0.01340
2016 3,252,624 301,264,389 0.01080
2015 37,294,144 303,195,297 0.12300
2014 12,836,097 290,735,649 0.04415
2013 3,562,828 281,957,406 0.01264
2
Total of line 1, column (d) .....................
2
0.203991
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
0.040798
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
355,571,969
5
Multiply line 4 by line 3......................
5
14,506,625
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
194,101
7
Add lines 5 and 6........................
7
14,700,726
8
Enter qualifying distributions from Part XII, line 4,.............
8
13,868,305
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 1 388,202
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........................... 3 388,202
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- ..... 5 388,202
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 101,740
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 406,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 507,740
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 9,533
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 10 110,005
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet110,005 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
 
No
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 addressbulletWWW.JMBENDOWNMENT.ORG
    14
    The books are in care ofbulletKatie Lindquist Telephone no.bullet (704) 943-4167

    Located atbullet4201 Congress Street Suite 470CharlotteNC ZIP+4bullet28209
    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
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 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?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 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
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 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
     
    No
    .........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
     
    No
    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
    Mary Claudia Belk Pilon Board Chair
    20.00     		25,000 23,789  
    4201 Congress Street
    Charlotte,NC28209
    George S Dewey IV Vice Chair
    5.00     		0    
    4201 Congress Street
    Charlotte,NC28209
    Virginia M Esposito Board Mbr/Sec
    5.00     		0    
    4201 Congress Street
    Charlotte,NC28209
    Brian T Marley Board Mbr/Trea
    5.00     		0    
    4201 Congress Street
    Charlotte,NC28209
    Anthony Zeiss Board Member
    5.00     		0    
    4201 Congress Street
    Charlotte,NC28209
    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
    Charles W Kaylor Chief of Staff
    40.00     		140,000 22,288  
    4201 Congress Street
    Charlotte,NC28209
    Virginia M McIlwain Dir Strgc Initiat
    40.00     		130,000 21,956  
    4201 Congress Street
    Charlotte,NC28209
    Jennifer Bihn Grants Mngr
    40.00     		103,114 26,616  
    4201 Congress Street
    Charlotte,NC28209
    Usoon Woo Exec Assist
    40.00     		70,617 24,851  
    4201 Congress Street
    Charlotte,NC28209
    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
    South Summit Services Foundation mgmt svcs 539,314
    4201 Congress Street Ste 470
    Charlotte,NC28209
    Jake Drew Data analytics 215,235
    5908 Fallsview Ln
    Dallas,TX75252
    Clifton Larson Allen Interim controller 113,738
    220 S 6th Street Ste 300
    Minneapolis,MN55402
    BlackRock Investment mgmt 77,176
    1340 Environ Way 314
    Chapel Hill,NC27517
    BBH Investment and Wealth Management Investment mgmt 526,304
    140 Broadway
    New York,NY10005
    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  
    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
    84,527,660
    b
    Average of monthly cash balances.......................
    1b
    2,063,739
    c
    Fair market value of all other assets (see instructions)................
    1c
    274,395,372
    d
    Total (add lines 1a, b, and c).........................
    1d
    360,986,771
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    360,986,771
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    5,414,802
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    355,571,969
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    17,778,598
    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
    17,778,598
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    388,202
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    388,202
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    17,390,396
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    17,390,396
    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
    17,390,396
    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
    13,868,305
    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
    13,868,305
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    13,868,305
    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 17,390,396
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 13,410,940
    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$ 13,868,305
    a Applied to 2017, but not more than line 2a 13,410,940
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 457,365
    e Remaining amount distributed out of corpus  
    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  
    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 ..........     		16,933,031
    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 ......     		 
    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....  
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (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
    North Carolina Community College Fd
    5001 Mail Service Center
    Raleigh,NC27699     		N/A SO III FI Statewide community college marketing campaign 1,100,000
    NC State University
    608 Poe Hall Campus Box 7801
    Raleigh,NC27695     		N/A GOV Envisioning excellence for community college leadership 2,490,197
    College Advising Corps Inc
    301 W Barbee Chapel Road Suite 210
    Chapel Hill,NC27517     		N/A PC Preparing for statewide impact 3,333,333
    Davidson County Community College F
    297 DCCC Road
    Thomasville,NC27360     		N/A PC Health care career pathways 125,000
    Education NC
    PO Box 1636
    Raleigh,NC27602     		N/A PC Launching statewide coverage of postsecondary education and the workforce 500,000
    JB Hunt Jr Instit Educational Ldrsp
    1000 Park Forty Plaza Suite 280
    Durham,NC27713     		N/A PC Fostering a bipartisan dialogue on the North Carolina educational continuum 100,000
    NC Community Colleges System Office
    5001 Mail Service Center
    Raleigh,NC27699     		N/A GOV Finish First/ Vice President for Strategy and Deputy Chief of Staff 487,930
    The ROC Charlotte Inc
    5301 Wilkinson Boulevard
    Charlotte,NC28203     		N/A PC High School Construction Youth Apprenticeship 600,000
    University of North Carolina
    UNC System Office
    Chapel Hill,NC27514     		N/A GOV Audit of UNC Math Pathways/ Audit of North Carolina's Financial Aid 1,368,091
    Univ of North Carolina at Chapel Hi
    206 W Franklin St
    Chapel Hill,NC27516     		N/A PC NC Leaky Pipeline - Phase II 1,040,335
    Year Up Inc
    45 Milk Street 9th Floor
    Boston,MA02109     		N/A PC Empowering Opportunity Youth in Charlotte: Launching Year Up 1,000,000
    Total .................................bullet 3a 12,144,886
    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 26  
    4 Dividends and interest from securities....     14 1,348,535  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 13,758,016  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aHunting lease & other     		    16 9,903  
    bPassthrough K-1 income     14 6,347,398  
    cTimber income- JMB Land     14 90,553  
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   21,554,431  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    21,554,431
    (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: 18007218
    Software Version: 2018v3.1


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting fees 1,894 0 0 1,894
    Interim controller services 113,738 0 0 113,738
    Tax compliance 5,200 2,600 0 2,600

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

    TY 2018 DepreciationSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    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
    Leasehold Improvements 2015-03-15 349,858 118,657 SL 39.0000 8,970      
    Office furniture 2014-12-19 38,000 9,500 SL 10.0000 3,800      
    Office furniture 2015-03-15 110,347 27,586 SL 10.0000 11,035      
    Computer and peripherals 2017-01-01 248,673 65,814 SL 5.0000 35,618      

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BBH Limited Duration Fund Cl I 2,608,469 2,605,894
    Morgan Stanley Nts 2.5% 01/24/2019 450,513 449,816
    Duke Energy Florida Llc Nts 2.1% 12/15/2 167,500 166,145
    Ares Capital Corp Make 3.875% 01/15/20 960,343 962,016
    FS Investment Corp Nts 4.25% 1/15/2020 363,874 365,380
    Pepsico Inc Nts Make Whole 4.5% 01/15/20 463,235 458,172
    Berkshire Hathaway Energ Nts 2.4% 02/01/ 445,896 447,062
    Microsoft Corp Nts 1.85% 12/2/20 703,505 694,043
    AT&T Inc Nts 2.45% 06/30/2020 954,513 942,575
    Gilead Sciences Inc Nts 2.55% 1/9/2020 446,265 446,360
    Caterpillar Financial Nts 2.5% 11/13/202 954,150 944,027
    Burlingtn No Sf 99-2 Tr 7.57% 2/1/2021 71,751 65,053
    General Dynamics Corp Nts 3% 05/11/2021 297,915 300,243
    Wells Fargo Bank NA Bknt 3.2235% 07/23/2 450,000 449,564
    American Express Co Nts 3.7% 11/05/2021 354,922 358,188
    Wisconsin Public Service Nts 3.35% 11/21 379,753 383,709
    Southern Cal Edison 1.845% 2/1/2022 105,000 102,124
    John Deere Capital Corp 2.75% 03/15/202 619,627 625,304
    Diageo Investment Corp Nts 2.875% 05/11/ 445,446 445,612
    Amgen Inc Nts 3.625% 05/15/2022 455,150 453,087
    Qualcomm Inc Nts 3% 05/20/202 226,431 226,274
    Celgene Corp Nts 3.55% 08/15/2022 954,108 944,514
    Allergan Finance Llc Nts 3.25% 1/10/2022 436,770 439,974
    Qualcomm Inc Nts 2.6% 01/30/2023 128,592 129,913
    BB&T Corporation Nts 3.75% 12/06/2023 599,076 605,046
    Intl Business Machines Corp 3.625% 02/12 971,793 948,086
    Bunge Limited Finance Co Note 4.35% 03/1 634,225 623,011
    Apple Computer Inc Nts 3.45% 05/06/2024 354,279 351,659
    Merck & Co Inc Nts 2.75% 02/10/2025 828,630 802,934
    Renaissancere Finance Nts 3.7% 04/01/25 269,460 265,615
    Abbvie Inc Nts 3.6% 05/14/2025 676,681 632,103
    Anheuser-Busch Inbev Fin Not 3.65% 02/01 430,960 424,184
    Coca-Cola Co Nts 2.55% 06/01/2026 539,381 527,172
    Trans-Canada Pipelines Nts 3.125% 01/15/ 503,255 499,955
    Bank Of Nova Scotia Nts 2.05% 06/05/2019 955,257 951,237
    Statoil Asa Make Whole 2.25% 11/08/2019 955,440 947,666
    Bank Of Montreal Nts 2.1% 12/12/2019 134,942 133,718
    Westpac Banking Corp Nts 2.15% 03/06/20 454,052 455,069
    Toronto-Dominion Bank Nts 2.5% 12/14/20 174,624 173,274
    National Australia Bank Ltd 2.625% 01/14 445,437 444,820
    Royal Bank Of Canada Nts 2.5% 01/19/2021 443,934 444,843
    Glaxosmithkline Capital Nts 3.125% 05/14 269,274 270,340
    Aust & NZ Banking Grp NY 2.625% 05/19/2 612,235 618,782

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Name of Stock End of Year Book Value End of Year Fair Market Value
    5600 shs Brown Forman Corp class B 257,223 266,448
    3296 shs Dollar General Corp Com Stk 375,307 399,464
    26900 shs Qurate Retail Inc. Series A Co 491,085 525,088
    19000 shs Liberty Golbal Place Series A 405,654 392,160
    5300 shs Diageo Plc- Sponsored Adr 610,430 751,540
    26436 shs Kroger Co Com 560,995 726,990
    4645 shs Nestle S A Spons Adr 308,375 376,059
    8400 shs Unilever N V-Ny Shares 318,423 451,920
    8275 shs Berkshire Hathaway Inc-Cl B 725,215 1,689,590
    21850 shs U S Bancorp 750,177 998,545
    20000 shs Wells Fargo & Co 745,719 921,600
    12000 shs Novartis Ag - Adr 824,401 1,029,720
    8600 shs Henry Schein Inc Com Stk 621,263 675,272
    9200 shs Zoetis Inc Com Stk 298,739 786,968
    10100 shs Copart Inc Com Stk 521,551 482,578
    5400 shs Allegion Plc- Com Stk 442,529 430,434
    6400 shs Fleetcor Technologies Inc Com S 895,803 1,188,608
    3300 shs Kla-Tencor Corp 328,860 295,317
    32300 shs Oracle Corp 1,231,910 1,458,345
    5900 shs Paypal Holdings Inc- Com Stk 178,739 496,131
    9300 shs Qualcomm Inc 524,906 529,263
    23000 shs Sabre Corp Com Stk 481,658 497,720
    5400 shs Celanese Corp Com Stk 220,302 485,838
    4400 shs Linde Plc Com Stk 719,202 686,576
    1229 shs Alphabet Inc Cl C 638,600 1,272,765
    36400 shs Comcast Corp Cl A 946,906 1,239,420
    22550 shs Discovery Inc -C 555,163 520,454

    TY 2018 InvestmentsLandSchedule2
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Land 41,466,994   41,466,994 23,920,000

    TY 2018 InvestmentsOtherSchedule2
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Altarock Partners Series AT COST 14,760,486 18,330,654
    Bares Mid-Large Cap Series AT COST 15,926,869 19,958,833
    Burgundy Emerging Market AT COST 10,081,184 9,587,151
    Clarkston Capital Partners Small-Mid Cap AT COST 10,094,423 10,606,797
    LBC Credit Parners III USTE Series AT COST 2,902,519 2,414,164
    Select Equity Series AT COST 23,994,603 22,752,556
    Cedar Rock Capital Partners Series AT COST 9,149,538 8,180,456
    Goldcrest Capital II-A LP AT COST 138,784 226,757
    BBH Cap Partners QP IV (Cayman) AT COST 610,783 1,394,044
    Longleaf Partners Small Cap Fd AT COST 3,763,852 2,957,352
    Oaktree Opportunities Sub Trust AT COST 1,369,967 1,544,220
    1-3 Year Treasury Index Non-Lendab AT COST 8,867,740 8,874,689
    US Debt B (510353) AT COST 34,622,233 33,932,838
    Emerging Markets Index NL Fund B AT COST 6,582,694 8,153,698
    Equity Index NL Fund B AT COST 61,138,998 62,085,897
    Msci World Ex-Us Index Fund B AT COST 21,707,491 22,564,860
    Russell 2000 Equity Index Fund B AT COST 8,076,445 8,642,766
    US Real Estate Securities Fund B AT COST 7,766,056 6,915,074
    Alpha Credit HY Bond Fund B AT COST 7,908,675 7,769,861
    Short-Term Investment Fund B AT COST 11,620 11,620
    Redbird Capital Partners Fund II LP AT COST 10,030  
    Senvest AT COST 1,000,000 748,423
    RB EFO II DE AIV II LP AT COST 286,420 283,536

    TY 2018 LandEtcSchedule2
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Furniture and Fixtures 148,347 51,922 96,425 96,425
    Machinery and Equipment 248,673 101,432 147,241 147,241
    Improvements 349,858 127,627 222,231 222,231


    TY 2018 LegalFeesSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    General governance and counsel 5,495 0 0 5,495


    TY 2018 OtherAssetsSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Sales tax receivable 11,999 11,999 11,999


    TY 2018 OtherExpensesSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank fees 135     135
    Books,subscriptions,references 43,618     43,618
    Communications & public relations 12,150     12,150
    Community college events 44,643     44,643
    Davidson scholars expenses 9,762     9,762
    Information technology 26,406     26,406
    Insurance 8,083     8,083
    K-1 expenses 1,455,312 1,455,045    
    Other expenses 7,208     7,208
    Other land expenses 13,152 13,152    
    Payroll processing fees 9,191     9,191


    TY 2018 OtherIncomeSchedule2
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Hunting lease & other 9,903 9,903  
    Passthrough K-1 income 6,347,398 6,341,542  
    Timber income- JMB Land 90,553 90,553  


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Education data analytics research 215,235 0 0 215,235
    Foundation management services 534,920 40,119 0 494,801
    Investment management fees 603,541 603,541 0 0
    Land management services 24,000 24,000 0 0
    Other consulting services 2,674 0 0 2,674
    Strategic planning services 48,978 0 0 48,978


    TY 2018 TaxesSchedule
    Name:
    John M Belk Endowment
    EIN:
    56-1954114
    Software ID:
    18007218
    Software Version:
    2018v3.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Excise tax 135,795