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
BOURGEOIS-GAVARDIN MICHEL CHAR TR
 
Number and street (or P.O. box number if mail is not delivered to street address)6325 S RAINBOW BLVD STE 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LAS VEGAS, NV89118
A Employer identification number

32-6343305
B Telephone number (see instructions)

(888) 730-4933
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$3,424,706J 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      
4 Dividends and interest from securities... 92,652 71,018  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 68,821
b Gross sales price for all assets on line 6a 841,524
7 Capital gain net income (from Part IV, line 2)... 68,821
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 161,473 139,839  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 48,410 36,307   12,103
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule).........       0
b Accounting fees (attach schedule)....... Click to see attachment 995 0 0 995
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,605 1,656   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 65 65    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 52,075 38,028 0 13,098
25 Contributions, gifts, grants paid....... 140,000 140,000
26 Total expenses and disbursements. Add lines 24 and 25 192,075 38,028 0 153,098
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -30,602
b Net investment income (if negative, enter -0-) 101,811
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 148,437 180,785 180,785
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
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).......      
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).......... 3,167,073 Click to see attachment3,099,105 3,243,921
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 3,315,510 3,279,890 3,424,706
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........ 3,315,510 3,279,890
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 3,315,510 3,279,890
31 Total liabilities and net assets/fund balances (see instructions). 3,315,510 3,279,890
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
3,315,510
2
Enter amount from Part I, line 27a .....................
2
-30,602
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
772
4
Add lines 1, 2, and 3 ..........................
4
3,285,680
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
5,790
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
3,279,890
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 928.799 DIAMOND HILL LONG-SHORT FD CL I 11   2014-11-14 2018-01-10
b 1251.564 MERGER FUND-INST #301   2013-07-24 2018-01-10
c 70. AMERIPRISE FINL INC     2018-01-29
d 20. BOEING CO   2014-08-12 2018-01-29
e 55. SPIRIT AEROSYTSEMS HOLD-CL A   2016-10-03 2018-01-29
5. ALPHABET INC/CA   2017-08-04 2018-02-13
50. CISCO SYSTEMS INC   2016-06-06 2018-02-13
15. MCKESSON CORP     2018-02-13
35. TOTAL S.A. - ADR   2015-04-15 2018-02-13
25. EATON CORP PLC   2017-08-04 2018-02-13
80. CISCO SYSTEMS INC   2015-06-02 2018-03-06
35. UNITEDHEALTH GROUP INC   2015-10-23 2018-03-06
25000. BRUNSWICK CNTY N C 5.000% 4/01/21   2013-07-24 2018-04-01
2417.038 MERGER FUND-INST #301     2018-04-02
1000. SPDR DJ WILSHIRE INTERNATIONAL REAL   2013-07-24 2018-04-02
15. DIAGEO PLC - ADR   2017-08-04 2018-04-09
25. ELI LILLY & CO COM   2016-10-03 2018-04-09
55. SUNCOR ENERGY INC NEW F     2018-04-09
115. AFFILIATED MANAGERS GROUP, INC COM     2018-04-10
15. AMERIPRISE FINL INC   2015-09-11 2018-06-14
10. APPLE INC     2018-06-14
15. CME GROUP INC   2016-05-12 2018-06-14
30. CVS HEALTH CORPORATION     2018-06-14
20. CELANESE CORP   2015-10-23 2018-06-14
45. CISCO SYSTEMS INC   2017-05-22 2018-06-14
30. CITIGROUP INC   2015-10-23 2018-06-14
30. COGNIZANT TECH SOLUTIONS CRP COM   2017-08-04 2018-06-14
5. COGNIZANT TECH SOLUTIONS CRP COM   2016-03-16 2018-06-14
60. COMCAST CORP CLASS A     2018-06-14
30. GILEAD SCIENCES INC     2018-06-14
10. HOME DEPOT INC   2017-04-17 2018-06-14
20. JPMORGAN CHASE & CO   2013-07-24 2018-06-14
25. LAS VEGAS SANDS CORP     2018-06-14
100. MANULIFE FINANCIAL CORP   2015-12-17 2018-06-14
30. MERCK & CO INC NEW     2018-06-14
25. NIKE INC CL B   2017-10-30 2018-06-14
15. PNC FINANCIAL SERVICES GROUP   2015-05-27 2018-06-14
70. ROCHE HOLDINGS LTD - ADR   2015-10-23 2018-06-14
10. THERMO FISHER SCIENTIFIC INC   2016-06-06 2018-06-14
15. UNION PACIFIC CORP   2015-06-17 2018-06-14
20. UNITED PARCEL SERVICE-CL B   2014-12-24 2018-06-14
10. UNITEDHEALTH GROUP INC   2015-10-23 2018-06-14
25. ZOETIS INC   2017-04-25 2018-06-14
20. TE CONNECTIVITY LTD   2017-05-22 2018-06-14
6091.642 EATON VANCE GLOBAL MACRO - I     2018-06-25
4324.536 PRINCIPAL GL MULT STRAT-INST #4684     2018-06-25
1000. SPDR DJ WILSHIRE INTERNATIONAL REAL     2018-06-25
50. VANGUARD REIT VIPER   2013-07-24 2018-06-25
35000. CHARLOTTE NC WTR & 5.000% 7/01/23   2013-07-24 2018-07-01
95. BAYER AG ADR- RIGHTS DEEMED 7/15/18   2016-12-12 2018-07-02
190.114 OPPENHEIMER DEVELOPING MKT-I 799   2013-07-24 2018-07-02
1000. SPDR DJ WILSHIRE INTERNATIONAL REAL     2018-07-02
140. VANGUARD REIT VIPER   2013-07-24 2018-07-02
30. APPLE INC     2018-07-30
29. BAYER AG - ADR   2016-12-12 2018-07-30
260. COMCAST CORP CLASS A     2018-07-30
70. MCKESSON CORP     2018-07-30
15. MCKESSON CORP   2017-08-04 2018-07-30
55. MICROSOFT CORP     2018-07-30
130. UBS GROUP AG   2018-01-29 2018-07-30
351. BAYER AG - ADR   2016-12-12 2018-07-31
115. CITIGROUP INC     2018-08-08
115. CISCO SYSTEMS INC     2018-10-01
240. MANULIFE FINANCIAL CORP   2015-12-17 2018-10-01
30. PNC FINANCIAL SERVICES GROUP   2015-05-27 2018-10-01
30. TJX COMPANIES INC     2018-10-01
35. UNION PACIFIC CORP     2018-10-01
15. WALT DISNEY CO   2015-05-17 2018-10-30
20. TARGET CORP   2016-01-20 2018-10-30
75. HAIN CELESTIAL GROUP INC   2015-12-17 2018-11-21
39. MONDELEZ INTERNATIONAL INC   2018-07-30 2018-11-21
13. PNC FINANCIAL SERVICES GROUP   2015-05-27 2018-11-21
55. SCHLUMBERGER LTD   2018-01-29 2018-11-21
280. SCHLUMBERGER LTD     2018-11-21
209. FLEXTRONICS INTL LTD   2018-03-07 2018-11-21
100000. CUMBERLAND CNTY N C 3.875% 12/01/18   2013-07-24 2018-12-01
756.915 DODGE & COX INT'L STOCK FD #1048     2018-12-04
600. VANGUARD REIT VIPER   2013-07-24 2018-12-04
15. APPLE INC     2018-12-07
25. MICROSOFT CORP   2016-04-22 2018-12-07
70. AMERIPRISE FINL INC     2018-12-21
30. AMERIPRISE FINL INC   2018-08-08 2018-12-21
120. COMCAST CORP CLASS A   2013-07-24 2018-12-21
35. NIKE INC CL B   2017-10-30 2018-12-21
CAPITAL GAIN DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 25,040   22,198 2,842
b 20,000   20,038 -38
c 12,421   8,683 3,738
d 6,810   2,404 4,406
e 5,657   2,487 3,170
5,273   4,631 642
2,058   1,464 594
2,191   2,717 -526
1,967   1,870 97
2,045   1,832 213
3,540   2,333 1,207
7,907   4,054 3,853
25,000   25,000  
39,132   37,938 1,194
39,629   41,231 -1,602
2,123   1,980 143
1,951   2,017 -66
2,005   1,528 477
20,376   18,075 2,301
2,200   1,641 559
1,905   1,137 768
2,548   1,429 1,119
2,053   3,138 -1,085
2,298   1,394 904
1,992   1,439 553
1,993   1,607 386
2,349   2,146 203
391   295 96
1,994   1,901 93
2,129   2,932 -803
1,982   1,471 511
2,159   1,133 1,026
2,015   1,396 619
1,899   1,469 430
1,844   1,817 27
1,862   1,379 483
2,136   1,440 696
1,854   2,372 -518
2,159   1,536 623
2,162   1,519 643
2,333   2,252 81
2,546   1,158 1,388
2,185   1,378 807
1,973   1,509 464
53,972   54,930 -958
48,002   48,000 2
39,029   42,652 -3,623
4,015   3,364 651
35,000   35,000  
158     158
8,000   6,607 1,393
38,820   42,213 -3,393
11,278   9,420 1,858
5,695   3,183 2,512
804   729 75
9,226   7,612 1,614
8,793   8,965 -172
1,884   2,319 -435
5,810   2,870 2,940
2,120   2,681 -561
9,738   8,826 912
8,401   6,048 2,353
5,622   3,438 2,184
4,299   3,526 773
4,075   2,879 1,196
3,372   2,128 1,244
5,750   3,523 2,227
1,702   1,653 49
1,708   1,361 347
1,691   3,076 -1,385
1,692   1,678 14
1,741   1,248 493
2,622   4,236 -1,614
13,348   22,331 -8,983
1,698   3,851 -2,153
100,000   100,000  
30,428   33,321 -2,893
49,349   40,204 9,145
2,554   1,558 996
2,633   1,295 1,338
7,065   6,802 263
3,028   4,245 -1,217
4,097   2,708 1,389
2,547   1,931 616
      25,363
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       2,842
b       -38
c       3,738
d       4,406
e       3,170
      642
      594
      -526
      97
      213
      1,207
      3,853
       
      1,194
      -1,602
      143
      -66
      477
      2,301
      559
      768
      1,119
      -1,085
      904
      553
      386
      203
      96
      93
      -803
      511
      1,026
      619
      430
      27
      483
      696
      -518
      623
      643
      81
      1,388
      807
      464
      -958
      2
      -3,623
      651
       
      158
      1,393
      -3,393
      1,858
      2,512
      75
      1,614
      -172
      -435
      2,940
      -561
      912
      2,353
      2,184
      773
      1,196
      1,244
      2,227
      49
      347
      -1,385
      14
      493
      -1,614
      -8,983
      -2,153
       
      -2,893
      9,145
      996
      1,338
      263
      -1,217
      1,389
      616
       
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 68,821
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 152,856 3,616,324 0.042268
2016 142,209 3,440,889 0.041329
2015 138,682 3,604,566 0.038474
2014 106,803 3,626,471 0.029451
2013 0 0 0.0
2
Total of line 1, column (d) .....................
2
0.151522
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
0.037881
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
3,680,874
5
Multiply line 4 by line 3......................
5
139,435
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,018
7
Add lines 5 and 6........................
7
140,453
8
Enter qualifying distributions from Part XII, line 4,.............
8
153,098
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 1,018
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 1,018
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,018
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 493
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 493
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 525
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet0 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (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 ofbulletWELLS FARGO BANK NA Telephone no.bullet (888) 730-4933

    Located atbullet100 N MAIN ST MAC D4001-117WINSTON SALEMNC ZIP+4bullet27101
    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
     
     
    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
    Wells Fargo Bank NA TRUSTEE
    1     		48,410    
    100 N MAIN ST MAC D4001-117
    WINSTON SALEM,NC27101
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    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.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    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
    3,634,218
    b
    Average of monthly cash balances.......................
    1b
    102,710
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    3,736,928
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    3,736,928
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    56,054
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    3,680,874
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    184,044
    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
    184,044
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,018
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,018
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    183,026
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    183,026
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    183,026
    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
    153,098
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    153,098
    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
    1,018
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    152,080
    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 7 183,026
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 111,509
    b Total for prior years:2016, 2015, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 0
    b From 2014...... 0
    c From 2015...... 0
    d From 2016...... 0
    e From 2017...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 153,098
    a Applied to 2017, but not more than line 2a 111,509
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 41,589
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		141,437
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2014.... 0
    b Excess from 2015.... 0
    c Excess from 2016.... 0
    d Excess from 2017.... 0
    e Excess from 2018.... 0
    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).)
    NONE
    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.
    NONE
    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
    NC CENTRAL UNIV FDN
    1801 FAYETTEVILLE ST
    DURHAM,NC27707     		NONE PC GENERAL OPERATING 70,000
    DUKE HOMECARE AND HOSPICE
    4321 MEDICAL PARK DRIVE STE 101
    DURHAM,NC27704     		NONE PC GENERAL PURPOSE 70,000
    Total .................................bullet 3a 140,000
    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 ...........     		         
    4 Dividends and interest from securities....     14 92,652  
    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 68,821  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   161,473  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    161,473
    (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

    TY 2018 AccountingFeesSchedule
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 995     995

    TY 2018 GeneralExplanationAttachment
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Identifier Return Reference Explanation
    The compensation reported in column (c) is calculated based on periodic market values and/or the applicable fee agreement. It is not determined on an hourly basis and the reference to one hour per week is an estimate only. Corporate trustee services include, but are not limited to, administrative services such as fiduciary accounting, custody of assets, complying with tax filing requirements, complying with distribution provisions, and complying with federal and state laws applicable to private foundations, plus asset management services such as creating asset allocation strategies, investments reporting and reallocating and rebalancing of portfolios as necessary.

    TY 2018 InvestmentsOtherSchedule2
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    02079K107 ALPHABET INC/CA AT COST 16,695 31,068
    848574109 SPIRIT AEROSYTSEMS H AT COST 5,878 9,372
    74255L696 PRINCIPAL GL MULT ST      
    315920702 FID ADV EMER MKTS IN      
    09247X101 BLACKROCK INC AT COST 16,325 17,677
    46625H100 JPMORGAN CHASE & CO AT COST 14,090 22,941
    172967424 CITIGROUP INC AT COST 12,154 13,536
    256210105 DODGE & COX INCOME F AT COST 206,929 204,623
    277923728 EATON VANCE GLOBAL M      
    339128100 JP MORGAN MID CAP VA AT COST 65,472 62,848
    872540109 TJX COS INC NEW AT COST 6,124 8,948
    56501R106 MANULIFE FINANCIAL C AT COST 11,814 11,991
    405217100 HAIN CELESTIAL GROUP AT COST 13,234 6,423
    92837F458 VIRTUS CEREDEX M/C V AT COST 84,000 62,939
    92837F763 VIRTUS SEIX FLT RT H AT COST 35,000 34,257
    741486104 T ROWE TX FR HIGH YI AT COST 99,568 105,983
    464287606 ISHARES S&P MIDCAP 4 AT COST 130,103 145,335
    17275R102 CISCO SYSTEMS INC AT COST 14,899 25,348
    25243Q205 DIAGEO PLC - ADR AT COST 17,126 20,561
    911312106 UNITED PARCEL SERVIC AT COST 17,679 17,068
    87612E106 TARGET CORP AT COST 8,067 8,922
    084670702 BERSHIRE HATHAWAY IN AT COST 9,087 14,293
    150870103 CELANESE CORP AT COST 11,805 17,994
    H84989104 TE CONNECTIVITY LTD AT COST 13,092 14,748
    901165100 TWEEDY BROWNE FD GLO AT COST 78,000 79,918
    464287200 ISHARES S & P 500 IN AT COST 36,402 44,032
    683974604 OPPENHEIMER DEVELOPI AT COST 135,122 140,861
    044820504 ASHMORE EMERG MKTS C AT COST 61,868 56,087
    00770G847 JOHCM INTERNATIONAL AT COST 70,000 75,524
    254687106 WALT DISNEY CO AT COST 16,688 18,641
    G29183103 EATON CORP PLC AT COST 12,201 14,007
    589509207 MERGER FUND-INST #30      
    464287879 ISHARES S&P SMALL CA AT COST 82,105 87,680
    464287887 ISHARES SP SMALL-CAP AT COST 78,208 93,571
    67065P816 NUVEEN NC MUNI BOND AT COST 264,517 271,384
    09258N505 BLACKROCK GL L/S CRE      
    74925K581 ROBECO BP LNG/SHRT R AT COST 167,405 161,281
    25264S833 DIAMOND HILL LONG-SH      
    230582BY3 CUMBERLAND CNTY N C      
    037833100 APPLE COMPUTER INC C AT COST 19,461 39,435
    437076102 HOME DEPOT INC AT COST 11,107 12,887
    806857108 SCHLUMBERGER LTD      
    89151E109 TOTAL FINA ELF S.A. AT COST 23,097 23,742
    91324P102 UNITEDHEALTH GROUP I AT COST 8,651 27,403
    03076C106 AMERIPRISE FINL INC      
    98978V103 ZOETIS INC AT COST 8,545 13,259
    04314H402 ARTISAN INTERNATIONA AT COST 45,541 40,172
    256206103 DODGE & COX INT'L ST      
    192446102 COGNIZANT TECH SOLUT AT COST 18,706 20,948
    930876BU0 WAKE CNTY NC 5.000% AT COST 26,160 25,795
    914716XD2 UNIV OF NORTH CAROLI AT COST 25,124 25,138
    88469PDX8 THOMASVILLE NC COMB AT COST 25,579 26,534
    126650100 CVS/CAREMARK CORPORA AT COST 25,738 19,984
    9756724P8 WINSTON SALEM N C 4. AT COST 51,397 51,554
    072730302 BAYER A G SPONSORED      
    532457108 ELI LILLY & CO COM AT COST 11,244 17,358
    907818108 UNION PACIFIC CORP AT COST 14,936 25,573
    117068CA2 BRUNSWICK CNTY N C 5      
    097023105 BOEING COMPANY AT COST 10,478 17,738
    375558103 GILEAD SCIENCES INC AT COST 12,101 9,695
    922908553 VANGUARD REIT VIPER AT COST 100,074 96,941
    922042858 VANGUARD EMERGING MA AT COST 113,817 105,156
    008252108 AFFILIATED MANAGERS      
    693475105 PNC FINANCIAL SERVIC AT COST 11,824 15,432
    883556102 THERMO FISHER SCIENT AT COST 11,434 20,141
    867224107 SUNCOR ENERGY INC NE AT COST 19,275 20,978
    58933Y105 MERCK & CO INC NEW AT COST 12,228 17,956
    20030N101 COMCAST CORP CLASS A AT COST 5,642 8,513
    517834107 LAS VEGAS SANDS CORP AT COST 17,670 17,177
    12572Q105 CME GROUP INC AT COST 12,217 20,693
    77957P105 T ROWE PRICE SHORT T AT COST 109,914 109,168
    78463X863 SPDR DJ WILSHIRE INT      
    161045HJ1 CHARLOTTE NC WTR & 5      
    479354AJ1 JOHNSTON CNTY NC LTD AT COST 25,578 25,929
    594918104 MICROSOFT CORP AT COST 20,699 46,824
    654106103 NIKE INC CL B AT COST 14,450 20,759
    771195104 ROCHE HOLDINGS LTD - AT COST 17,824 16,939
    58155Q103 MCKESSON CORP      
    31641Q763 FIDELITY NEW MRKTS I AT COST 118,000 106,178
    609207105 MONDELEZ INTERNATION AT COST 19,815 18,454
    316389584 FIDELITY ADV INTER R AT COST 60,000 55,455
    09260C703 BLACKROCK GL L/S CRE AT COST 108,000 102,839
    464288489 ISHARES FTSE EPRA/NA AT COST 54,377 50,276
    26875P101 EOG RESOURCES, INC AT COST 15,515 12,645
    H42097107 UBS GROUP AG AT COST 17,323 10,894
    00206R102 AT & T INC AT COST 25,414 20,834
    512807108 LAM RESEARCH CORP CO AT COST 15,256 11,574
    Y2573F102 FLEXTRONICS INTL LTD AT COST 15,587 7,199
    285512109 ELECTRONIC ARTS INC AT COST 7,650 7,891

    TY 2018 OtherDecreasesSchedule
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Description Amount
    PY RETURN OF CAPITAL ADJUSTMENT 5,207
    AMORTIZATION C/O TO NEXT YEAR 583


    TY 2018 OtherExpensesSchedule
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT EXPENSES-DIVIDEND I 65 65   0


    TY 2018 OtherIncreasesSchedule
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Description Amount
    MUTUAL FUND TIMING DIFFERENCE 537
    COST BASIS ADJUSTMENT 235


    TY 2018 TaxesSchedule
    Name:
    BOURGEOIS-GAVARDIN MICHEL CHAR TR
    EIN:
    32-6343305
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 1,153 1,153   0
    FEDERAL TAX PAYMENT - PRIOR YE 456 0   0
    FEDERAL ESTIMATES - PRINCIPAL 493 0   0
    FOREIGN TAXES ON QUALIFIED FOR 170 170   0
    FOREIGN TAXES ON NONQUALIFIED 333 333   0