Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
The Copley Fund
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 696
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Morrisville, VT056610696
A Employer identification number

03-6006013
B Telephone number (see instructions)

(802) 888-2000
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$8,564,655J 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 20 20  
4 Dividends and interest from securities... 210,892 210,892  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 55,982
b Gross sales price for all assets on line 6a 188,140
7 Capital gain net income (from Part IV, line 2)... 55,982
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)..... 0  
11 Other income (attach schedule)....... Click to see attachment 3,246 -3  
12 Total. Add lines 1 through 11........ 270,140 266,891 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 1,554 1,554    
b Accounting fees (attach schedule)....... 0      
c Other professional fees (attach schedule).... Click to see attachment 9,268 9,268    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 3,437 31    
19 Depreciation (attach schedule) and depletion... 0    
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 5,509 5,509    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 19,768 16,362   0
25 Contributions, gifts, grants paid....... 253,000 253,000
26 Total expenses and disbursements. Add lines 24 and 25 272,768 16,362   253,000
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,628
b Net investment income (if negative, enter -0-) 250,529
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......... 172,886 129,362 129,362
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).....   0  
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet     0  
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)....... 500,262 Click to see attachment542,444 8,435,293
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet     0  
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   0  
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet     0  
15 Other assets (describe bullet) 0 0 0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 673,148 671,806 8,564,655
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons   0
21 Mortgages and other notes payable (attach schedule)......   0
22 Other liabilities (describe bullet) 0 0
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............... 673,148 671,806
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    
30 Total net assets or fund balances (see instructions)..... 673,148 671,806
31 Total liabilities and net assets/fund balances (see instructions). 673,148 671,806
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
673,148
2
Enter amount from Part I, line 27a .....................
2
-2,628
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
1,286
4
Add lines 1, 2, and 3 ..........................
4
671,806
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
671,806
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 Borg Warner 151 sh P 2018-08-31 2018-09-24
b Deere & Co 32 sh P 2018-03-06 2018-06-22
c Adobe Inc 11 sh P 2012-12-28 2018-03-26
d Adobe Inc 13 sh P 2012-12-28 2018-10-15
e Analog Devices Inc 135 sh P 2013-08-07 2018-11-12
Check Point Software Tech Ltd 91 sh P 2017-02-07 2018-04-26
Electronic Arts Inc 108 sh P 2016-06-17 2018-04-06
Facebook Inc Cl A 63 sh P 2016-02-11 2018-08-20
Intercontinental Exch Grp 180 sh P 2013-07-15 2018-10-22
Pepsico Inc 52 sh P 2016-10-23 2018-03-02
PPG Industries 85 sh P 2015-11-13 2018-05-22
Rockwell Automation Inc 12 sh P 2016-03-16 2018-01-23
Rockwell Automaiton Inc 68 sh P 2016-03-16 2018-12-12
United Health Grp Inc 10 sh P 2013-07-19 2018-08-28
Visa Inc Cl A 18 sh P 2013-05-21 2018-07-24
Apple Inc 24 sh P 2008-09-19 2018-10-15
Anandarko Petroleum 23 sh P 2017-07-13 2018-03-08
Apache Corp 40 sh P 2018-01-05 2018-12-26
Arconic Inc. 19 sh P 2017-05-04 2018-05-03
Hartford Fin Sers Grp Inc 7 sh P 2017-05-04 2018-03-14
Regal Entertainment Grp Cl A 7 sh P 2017-05-04 2018-01-09
Anadarko Petrolem 40 sh P 2016-05-16 2018-03-08
Apache Corp 53 sh P 2016-01-22 2018-08-15
Apache Corp 33 sh P 2017-05-04 2018-12-26
Arconic Inc 84 sh P 2013-11-26 2018-05-03
Baxter Intl Inc 22 sh P 2015-11-23 2018-07-18
Broadridge Fin Solutions LLC 14 sh P 2017-05-04 2018-10-11
Cinemark Holdings Inc 67 sh P 2013-08-27 2018-03-02
Globus Medical Inc 46 sh P 2016-10-05 2018-04-10
Globus Medical Inc 7 sh P 2016-10-05 2018-04-11
Globus Medical Inc 17 sh P 2016-10-05 2018-06-18
Globus Medical Inc 42 sh P 2016-10-05 2018-06-19
Haemonetics Corp 7 sh P 2011-05-23 2018-06-07
Haemonetics Corp 10 sh P 2013-05-17 2018-06-07
Haemonetics Corp 2 sh P 2015-10-07 2018-06-07
Haemonetics Corp 16 sh P 2015-10-07 2018-06-14
Hain Celestial Group Inc 5 sh P 2016-11-28 2018-09-13
Hain Celestial Group Inc 20 sh P 2017-07-14 2018-09-13
Hain Celestial Group Inc 64 sh P 2016-11-28 2018-11-09
Hain Celestial Group Inc 51 sh P 2017-02-21 2018-11-09
Hartford Fin Servs Grp Inc 24 sh P 2014-01-30 2018-03-13
Hartford Fin Servs Grp Inc 23 sh P 2014-03-05 2018-03-14
Hess Corporation 3 sh P 2016-01-29 2018-04-10
Hess Corporation 16 sh P 2016-03-11 2018-04-10
Hess Corporation 2 sh P 2016-01-29 2018-09-13
Hess Corporation 19 sh P 2017-05-04 2018-09-13
Invesco Ltd 127 sh P 2017-05-04 2018-12-11
Liberty Media C Ser C SiriusXM 13 sh P 2014-09-18 2018-01-10
Liberty Media C Ser C SiriusXM 8 sh P 2014-09-18 2018-10-10
Liberty Media C Ser C SiriusXM 29 sh P 2016-06-03 2018-10-10
McKesson Corp 10 sh P 2015-10-07 2018-12-24
Natl Fuel Gas Co 17 sh P 2013-05-17 2018-04-10
New York Community Bancorp Inc 53 sh P 2011-10-25 2018-06-15
New York Community Bancorp Inc 25 sh P 2013-05-17 2018-06-15
New York Community Bancorp Inc 160 sh P 2017-05-04 2018-06-15
Omnicom Group 13 sh P 2011-08-25 2018-07-23
Omnicom Group 16 sh P 2015-08-26 2018-07-23
Omnicom Group 15 sh P 2015-10-07 2018-07-23
Orbital ATK Inc 15 sh P 2016-03-18 2018-01-18
Orbital ATK Inc 9 sh P 2016-06-22 2018-01-18
Orbital ATK Inc 4 sh P 2016-06-22 2018-01-19
Orbital ATK Inc 28 sh P 2016-08-10 2018-01-19
Regal Entertainment Grp ClA 33 sh P 2013-01-15 2018-01-08
Regal Entertainment Grp ClA 24 sh P 2013-05-17 2018-01-08
Regal Entertainment Grp ClA 11 sh P 2013-05-17 2018-01-09
Regal Entertainment Grp ClA 55 sh P 2015-10-07 2018-01-09
Rockwell Collins Inc 30 sh P 2013-05-17 2018-01-12
Sabra Health Care REIT 30 sh P 2017-10-02 2018-12-26
Sysco Corp 33 sh P 2012-09-27 2018-07-18
Sysco Corp 1 sh P 2013-05-17 2018-09-13
Sysco Corp 20sh P 2015-10-07 2018-09-13
Ubiquiti Networks Inc 8 sh P 2017-09-11 2018-10-10
Ubiquiti Networks Inc 10 sh P 2017-09-11 2018-10-11
Broadridge Fin Solu LLC 20 sh P 2010-08-31 2018-04-18
Broadridge Fin Solu LLC 21 sh P 2010-08-31 2018-07-18
New York Community Bancorp Inc 10 sh P 2010-08-31 2018-02-27
New York Community Bancorp Inc 24 sh P 2010-08-31 2018-03-02
New York Community Bancorp Inc 55 sh P 2010-08-31 2018-06-15
Omnicom Group 11 sh P 2010-08-31 2018-07-23
Rockwell Collins Inc 2 sh P 2010-08-31 2018-01-12
       
(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 6,677 0 7,501 -824
b 4,592 0 5,218 -626
c 2,462 0 409 2,053
d 3,119 0 484 2,635
e 11,438 0 6,625 4,813
8,893 0 9,134 -241
12,790 0 8,041 4,749
10,863 0 6,403 4,460
13,327 0 6,512 6,815
5,678 0 5,325 353
8,822 0 8,486 336
2,468 0 1,300 1,168
10,889 0 7,313 3,576
2,690 0 715 1,975
2,512 0 819 1,693
5,262 0 478 4,784
1,313 0 1,114 199
1,001 0 1,867 -866
320 0 505 -185
380 0 345 35
160 0 150 10
2,283 0 1,992 291
2,229 0 2,073 156
826 0 1,508 -682
1,413 0 1,664 -251
1,640 0 838 802
1,642 0 969 673
2,765 0 1,941 824
2,308 0 1,061 1,247
352 0 161 191
924 0 392 532
2,263 0 969 1,294
649 0 231 418
927 0 400 527
185 0 63 122
1,535 0 504 1,031
3,378 0 1,008 2,370
138 0 195 -57
552 0 803 -251
1,420 0 2,493 -1,073
1,131 0 1,790 -659
1,304 0 802 502
1,248 0 829 419
161 0 124 37
860 0 828 32
129 0 83 46
1,221 0 872 349
2,213 0 3,955 -1,742
524 0 377 147
330 0 232 98
1,195 0 912 283
1,084 0 1,842 -758
867 0 1,064 -197
606 0 671 -65
286 0 345 -59
1,831 0 2,096 -265
890 0 504 386
1,095 0 1,055 40
1,027 0 1,045 -18
1,980 0 1,232 748
1,188 0 788 400
528 0 350 178
3,695 0 1,914 1,781
754 0 449 305
549 0 426 123
252 0 195 57
1,259 0 1,065 194
4,135 0 1,948 2,187
479 0 655 -176
2,324 0 1,035 1,289
74 0 35 39
1,478 0 808 670
676 0 473 203
843 0 591 252
2,236 0 425 1,811
2,472 0 446 2,026
140 0 157 -17
336 0 377 -41
629 0 863 -234
753 0 385 368
276 0 109 167
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 0 0 0 -824
b 0 0 0 -626
c 0 0 0 2,053
d 0 0 0 2,635
e 0 0 0 4,813
0 0 0 -241
0 0 0 4,749
0 0 0 4,460
0 0 0 6,815
0 0 0 353
0 0 0 336
0 0 0 1,168
0 0 0 3,576
0 0 0 1,975
0 0 0 1,693
0 0 0 4,784
0 0 0 199
0 0 0 -866
0 0 0 -185
0 0 0 35
0 0 0 10
0 0 0 291
0 0 0 156
0 0 0 -682
0 0 0 -251
0 0 0 802
0 0 0 673
0 0 0 824
0 0 0 1,247
0 0 0 191
0 0 0 532
0 0 0 1,294
0 0 0 418
0 0 0 527
0 0 0 122
0 0 0 1,031
0 0 0 2,370
0 0 0 -57
0 0 0 -251
0 0 0 -1,073
0 0 0 -659
0 0 0 502
0 0 0 419
0 0 0 37
0 0 0 32
0 0 0 46
0 0 0 349
0 0 0 -1,742
0 0 0 147
0 0 0 98
0 0 0 283
0 0 0 -758
0 0 0 -197
0 0 0 -65
0 0 0 -59
0 0 0 -265
0 0 0 386
0 0 0 40
0 0 0 -18
0 0 0 748
0 0 0 400
0 0 0 178
0 0 0 1,781
0 0 0 305
0 0 0 123
0 0 0 57
0 0 0 194
0 0 0 2,187
0 0 0 -176
0 0 0 1,289
0 0 0 39
0 0 0 670
0 0 0 203
0 0 0 252
0 0 0 1,811
0 0 0 2,026
0 0 0 -17
0 0 0 -41
0 0 0 -234
0 0 0 368
0 0 0 167
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 55,982
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 -2,257
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 229,000 7,555,932 0.030307
2016 234,294 5,850,477 0.040047
2015 233,837 4,628,590 0.050520
2014 220,600 4,772,313 0.046225
2013 200,000 3,864,067 0.051759
2
Total of line 1, column (d) .....................
2
0.218858
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
0.043772
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
9,113,360
5
Multiply line 4 by line 3......................
5
398,910
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
2,505
7
Add lines 5 and 6........................
7
401,415
8
Enter qualifying distributions from Part XII, line 4,.............
8
253,000
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 5,011
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 5,011
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 5,011
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 3,632
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. Part VI Line 7 - Tax Paid with the Original Return: 3632 7 3,632
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 54
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,433
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  
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)
    bulletVT
    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 ofbulletRichard C Sargent Esq Telephone no.bullet (802) 888-2000

    Located atbulletPO Box 696MorrisvilleVT ZIP+4bullet056610696
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    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
    Richard C Sargent Esq Trustee
    1.00     		0 0 0
    PO Box 696
    Morrisville,VT05661
    Gloria Wing Trustee
    1.00     		0 0 0
    c/o Sargent Law Office PO Box 696
    Morrisville,VT05661
    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
    8,996,566
    b
    Average of monthly cash balances.......................
    1b
    255,576
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    9,252,142
    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
    9,252,142
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    138,782
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    9,113,360
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    455,668
    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
    455,668
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    5,011
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    5,011
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    450,657
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    450,657
    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
    450,657
    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
    253,000
    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
    253,000
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    253,000
    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 7 450,657
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 252,665
    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$ 253,000
    a Applied to 2017, but not more than line 2a 252,665
    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..... 335
    e Remaining amount distributed out of corpus 0
    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 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......     		 
    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 ..........     		450,322
    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) ...     		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).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Richard C Sargent Esq
    PO Box 696
    Morrisville,VT05661
    (802) 888-2000
    bThe form in which applications should be submitted and information and materials they should include:
    Letter describing project
    cAny submission deadlines:
    Before the end of the calendar year
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Deserving elderly of Lamoille County, Vermont
    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
    Lamoille Adult Day Health Services
    11 Court Street
    Morrisville,VT05661     		  public charity Operating supportsenior services 3,000
    Lamoille County Civic Association
    PO Box 844
    Morrisville,VT05661     		  public charity Assist elderly with activities 8,000
    River Arts
    PO Box 829
    Morrisville,VT05661     		  public charity Support of elderlyactivities 3,000
    Lamiolle County Meal on Wheels
    PO Box 1427
    Morrisville,VT05661     		  public charity Assist elderly with food deliveries 8,000
    Lamoille Home Health and Hospice
    54 Farr Avenue
    Morrisville,VT05661     		  public charity Assist elderly with homeservices and hospicecare 22,000
    Capstone Community Action
    Ex Dir 20 Gable Place
    Barre,VT05641     		  public charity Assist elderlyLamoille County 10,000
    Morristown Centenial Library
    PO Box 727
    Morrisville,VT05661     		  public charity Provide activities for elderly 4,000
    Lanpher Memorial Library
    PO Box 196
    Hyde Park,VT05655     		  public charity Provide activitiesfor elderly 4,000
    Johnson Public Library
    PO Box 601
    Johnson,VT05656     		  public charity Provide activities for elderly 4,000
    Varnum Memorial Library
    PO Box 198
    Jeffersonville,VT05464     		  public charity Provide activitiesfor elderly 4,000
    Glee Merritt Kelley Community Library
    PO Box 179
    Wolcott,VT05680     		  public charity Provide activities for elderly 4,000
    Stowe Free Library
    PO Box 1029
    Stowe,VT05672     		  public charity Provide activities for elderly 4,000
    Lamoille Community Food Share
    PO Box 173
    Morrisville,VT05661     		  public charity Assist elderlywith food 10,000
    Home Share Now
    105 North Main Street Suite 103
    Barre,VT05641     		  public charity Assist elderlywith housing 1,000
    Central Vermont Council on Aging
    109 Professional Drive
    Morrisville,VT05661     		  public charity Support senior centeractivities and case management 30,000
    134 individuals who wish
    to remain anonymous
    Lamoille County,VT05661     		None N/A Direct assistance to elderly for housing 134,000
    Total .................................bullet 3a 253,000
    bApproved for future payment
    Total .................................bullet 3b 0
    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 20  
    4 Dividends and interest from securities....     14 210,892  
    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.....     18 237  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 55,982  
    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)..   267,131  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    267,131
    (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:  
    Part VI Line 7 - Tax Paid with the Original Return: 3,632


    Form 990PF - Special Condition Description:
    Special Condition Description

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

    TY 2018 GainLossSaleOtherAssetsSch
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    Borg Warner Inc 151 sh 2018-08 Purchased 2019-09   6,677   Cost 7,501 -824  
    Deere & Co 32 sh 2018-03   2018-06   4,592 5,218 Cost   -626  
    Adobe Inc 24 sh 2012-12   2018-10   5,581 893     4,688  
    Analog Devices 135 sh 2013-08 Purchased 2018-11   11,438 6,625     4,813  
    Check Point Software Tech Ltd 91 sh 2017-02 Purchased 2018-04   8,893 9,134     -241  
    Electronic Arts Inc 108 sh 2016-06 Purchased 2018-04   12,790 8,041     4,749  
    Facebook Inc Cl A 63 sh 2016-02 Purchased 2018-08   10,863 6,403     4,460  
    Intercontinental Exchange Grp 180 sh 2013-07 Purchased 2018-10   13,327 6,512 Cost   6,815  
    Pepsico Inc 52 sh 2015-10 Purchased 2018-03   5,678 5,325     353  
    PPG Industries Inc 52 sh 2015-11 Purchased 2018-05   8,822 8,486     336  
    Rockwell Automation Inc 80 sh 2018-03 Purchased 2018-12   13,357 8,613     4,744  
    Unitedhealth Grp 10 sh 2013-07 Purchased 2018-08   2,690 715     1,975  
    Visa Inc Cl A 18 sh 2013-05 Purchased 2018-07   2,512 819     1,693  
    Apple Inc 24 sh 2008-09 Purchased 2018-10   5,262 478     4,784  
    Anadarko Petroleum 23 sh 2017-07 Purchased 2018-03   1,313 1,114     199  
    Apache Corp 40 sh 2018-01 Purchased 2018-12   1,001 1,867     -866  
    Arconic Inc 19 sh 2017-05 Purchased 2018-05   320 505     -185  
    Hartford Fin Sers Grp Inc 7 sh 2017-05 Purchased 2018-03   380 345     35  
    Regal Entertainment Grp 7 sh 2017-05 Purchased 2018-01   160 150     10  
    Anadarko Petroleum 40 sh 2016-05 Purchased 2018-03   2,283 1,992     291  
    Apache Corp 86 sh 2017-05 Purchased 2018-12   3,055 3,581     -526  
    Arconic Inc 84 sh 2013-11 Purchased 2018-05   1,413 1,664     -251  
    Baxter Intl Inc 22 sh 2015-11 Purchased 2018-07   1,640 838     802  
    Broadridge Fin Solu LLC 14 sh 2017-05 Purchased 2018-10   1,642 969     673  
    Cinemark Holdings Inc 67 sh 2013-08 Purchased 2018-03   2,765 1,941     824  
    Globus Medical Inc 46 sh 2016-10 Purchased 2018-04   2,308 1,061     1,247  
    Globus Medical Inc A 7 sh 2016-10 Purchased 2018-04   352 161     191  
    Globus Medical Inc 17 sh 2016-10 Purchased 2018-06   924 392     532  
    Globus Medical Inc 42 sh 2016-10 Purchased 2018-06   2,263 969     1,294  
    Haemonetics Corp 67 sh 2015-10 Purchased 2018-08   6,675 2,207     4,468  
    Hain Celestial Group[ 140 sh 2017-02 Purchased 2018-11   3,242 5,282     -2,040  
    Hartford Fin Sers Grp 47 sh 2014-03 Purchased 2018-03   2,551 1,630     921  
    Hess Corporation 40 sh 2017-05 Purchased 2018-09   2,370 1,906     464  
    Invesco Ltd 127 sh 2017-05 Purchased 2018-12   2,213 3,955     -1,742  
    Liberty Media C Ser C SiriusXM 50 sh 2016-06 Purchased 2018-10   2,048 1,520     528  
    McKesson Corp 10 sh 2015-10 Purchased 2018-12   1,084 1,842     -758  
    Natl Fuel Gas Co 17 sh 2013-05 Purchased 2018-04   867 1,064     -197  
    New York Community Bancorp Inc 238 sh 2017-05 Purchased 2018-06   2,723 3,112     -389  
    Omnicom Group 44 sh 2015-10 Purchased 2018-07   3,012 2,604     408  
    Orbital ATK Inc 56 sh 2016-08 Purchased 2018-01   7,391 4,284     3,107  
    Regal Entertainment Grp Cl A 123 sh 2015-10 Purchased 2018-01   2,814 2,135     679  
    Rockwell Collins Inc 30 sh 2013-05 Purchased 2018-01   4,135 1,948     2,187  
    Sabra Health Care REIT Inc 30 sh 2017-10 Purchased 2018-12   479 655     -176  
    Sysco Corp 54 sh 2015-10 Purchased 2018-09   3,875 1,877     1,998  
    Ubiquiti Networks Inc 18 sh 2017-09 Purchased 2018-10   1,518 1,063     455  
    Broadbridge Fin Solu LLC 41 sh 2010-08 Purchased 2018-07   4,708 871     3,837  
    New York Community Bancorp Inc 89 sh 2010-08 Purchased 2018-06   1,105 1,397     -292  
    Omnicom Group 11 sh 2010-08 Purchased 2018-07   753 385     368  
    Rockwell Collins Inc 2 sh 2010-08 Purchased 2018-01   276 109     167  

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Name of Stock End of Year Book Value End of Year Fair Market Value
    AO Smith Corp 145 sh 8,589 6,192
    Abbott Laboratories 158 sh 11,594 11,428
    Accenture PLC 59 sh 6,363 8,320
    Adobe Inc 49 sh 1,824 11,086
    Air Prod & Chem Inc 39 sh 6,384 6,242
    Alphabet Inc 11 sh 3,373 11,495
    Amazon Inc 11 sh 8,971 16,522
    Ansys Inc 73 sh 11,491 10,435
    Apple Inc 54 sh 1,075 8,518
    Canadian National Railway 151 sh 3,228 11,191
    Charles Schwab new 181 sh 10,070 7,517
    Chevron Corp 75 sh 8,842 8,159
    Cintas Corp 57 sh 7,665 9,575
    Cisco Sys Inc 270 sh 11,070 11,699
    Clorox Co 90 sh 10,208 13,873
    CME Group Inc 89 sh 9,065 16,743
    Costco Wholesale Corp New 63 sh 7,338 12,834
    Crown Castle Intl Corp 92 sh 8,665 9,994
    Dollar General Corp New 105 sh 11,551 11,348
    Ecolab Inc 76 sh 8,094 11,199
    Estee Lauder Co Inc 109 sh 6,706 14,181
    Home Depot Inc 73 sh 5,719 12,543
    Illinois Tool Works 73 sh 5,549 9,248
    Intuitive Surgical Inc 19 sh 8,660 9,099
    Microsoft Corp 93 sh 7,818 9,446
    Northrup Grumman 38 sh 9,882 9,306
    Paypal Hldgs Inc 166 sh 6,511 13,959
    Progressive Corp Ohio 195 sh 7,888 11,764
    Roper Technologies Inc 43 sh 9,545 11,460
    Stryker Corp 80 sh 8,705 12,540
    Suntrust Banks 162 sh 8,920 8,171
    Thermo Fisher Scientific 60 sh 8,382 13,427
    TJX Cos new 240 sh 2,660 10,738
    United Health Grp Inc 54 sh 3,859 13,452
    VF Corporation 143 sh 9,985 10,202
    Verisk Analytics Inc 96 sh 11,756 10,468
    Vertex Pharmaceuticals 36 sh 5,845 5,966
    Visa Inc Cl A 104 sh 4,733 13,722
    Xilinx Inc 172 sh 12,205 14,649
    Zoetis Inc 161 sh 10,156 13,772
    Alleghany CP Delaware 9 sh 5,117 5,610
    AmDocs Limited ORD 88 sh 4,220 5,155
    Analog Devices Inc 58 sh 2,408 4,978
    Avery Dennison Corporation 37 sh 1,834 3,324
    Baxter Intl Inc 82 sh 3,094 5,397
    Booz Allen Hamilton Hldg CL A 99 sh 4,013 4,462
    Boston Scientific Corp 169 sh 1,355 5,972
    Broadridge Fin Solu LLC 64 sh 1,796 6,160
    BWX Technologies Inc 109 sh 2,652 4,167
    Cabot Oil & Gas Corp 122 sh 2,672 2,727
    Casey's General Stores Inc 36 sh 4,287 4,613
    CDK Global Inc 105 sh 6,570 5,027
    Cinemark Holdings Inc 107 sh 3,509 3,831
    Clorox Co 20 sh 1,420 3,083
    Conduent Inc 362 sh 6,316 3,848
    Corecivic Inc 197 sh 5,618 3,513
    Dentsply Sirona Inc 93 sh 4,444 3,461
    Dollar Gen Corp New 40 sh 2,798 4,323
    Dorman Products Inc 39 sh 2,847 3,511
    Entergy Corp New 37 sh 2,878 3,185
    Epam Systems 39 sh 2,571 4,524
    Esterline Technologies CP 50 sh 4,281 6,073
    Expeditors Intl Wash Inc 50 sh 2,194 3,405
    First American Finl Corp 160 sh 2,805 7,142
    Franklin Resources Inc 133 sh 4,526 3,945
    Genuine Parts Co 47 sh 2,687 4,513
    Hasbro Inc 83 sh 3,822 6,744
    Helen of Troy 29 sh 2,696 3,804
    Hershey Company 28 sh 2,433 3,001
    Hess Corporation 50 sh 2,066 2,025
    Hexcel Corp 72 sh 4,275 4,128
    Huntington Bancshares 442 sh 4,075 5,269
    Huntsman Corp 150 sh 2,740 2,894
    Liberty Broadband Corp 64 sh 3,306 4,610
    Liberty Media C Ser C SiriusXM 112 sh 3,172 4,142
    M&T Bank Corp 29 sh 2,372 4,151
    Markel Corp Holding Co 6 sh 5,306 6,228
    McKesson Corp 25 sh 1,535 2,762
    Natl Fuel Gas Co 74 sh 3,959 3,787
    Nisource Inc 129 sh 1,657 3,270
    Nuvasive Inc 134 sh 7,070 6,641
    Pioneer Natural Resources Co 28 sh 4,373 3,683
    PPL Corporation 110 sh 3,842 3,116
    Sabra Health Care REIT 164 sh 3,569 2,703
    Sonoco Products Co 61 sh 1,975 3,241
    Store Capital Corporation 225 sh 5,371 6,370
    Sun Communities Inc 72 sh 2,371 7,323
    Suntrust Banks 123 sh 2,703 6,204
    Sysco Corp 65 sh 2,041 4,073
    Torchmark Corp 70 sh 5,954 5,217
    Ubiquiti Networks Inc 55 sh 3,244 5,468
    Ulta Beauty Inc 15 sh 3,141 3,673
    United Bankshares Inc 120 sh 4,309 3,733
    Welltower Inc 59 sh 3,171 4,095
    Western Union Co 283 5,030 4,828
    Woodward Inc 78 sh 5,018 5,795
    XCEL Energy Inc 67 sh 1,611 3,301
    Zimmer Biomet Holdings Inc 49 sh 2,881 5,082
    Union Bankshares inc 162000 sh 31,500 7,735,500

    TY 2018 LegalFeesSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Fitts Olson & Giddings Tax return prep 1,317 1,317    
    Sargent Law Office Legal representation 237 237    


    TY 2018 OtherExpensesSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank Service Fees 5,002 5,002    
    Postage and supplies 75 75    
    Insurance 432 432    


    TY 2018 OtherIncomeSchedule2
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Reversal of stale checks 3,000    
    Non-div distributions 249    
    Rounding -3 -3  


    TY 2018 OtherIncreasesSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Description Amount
    Adjustments to book value 1,286


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Morgan Stanley Broker 5,660 5,660    
    Morgan Stanley Broker 3,608 3,608    


    TY 2018 TaxesSchedule
    Name:
    The Copley Fund
    EIN:
    03-6006013
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Foreign Taxes 31 31    
    2018 estimates 3,406