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
JOSEPH M WRIGHT CHAR FOUND INC
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 10788
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
RALEIGH, NC27605
A Employer identification number

56-1872992
B Telephone number (see instructions)

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

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$0J 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 1,293 1,293 1,293
4 Dividends and interest from securities... 30,566 30,566 30,566
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 112,178
b Gross sales price for all assets on line 6a 957,168
7 Capital gain net income (from Part IV, line 2)... 97,596
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 144,037 129,455 31,859
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 2,725 400    
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 1,631 1,631    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 18,026 16,218    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 22,382 18,249   0
25 Contributions, gifts, grants paid....... 1,787,996 1,787,996
26 Total expenses and disbursements. Add lines 24 and 25 1,810,378 18,249   1,787,996
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,666,341
b Net investment income (if negative, enter -0-) 111,206
c Adjusted net income (if negative, enter -0-)... 31,859
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......... 66,725    
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,597,185    
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)..........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment2,454    
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,666,364 0 0
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) Click to see attachment23  
23 Total liabilities (add lines 17 through 22)......... 23 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 1,666,341  
30 Total net assets or fund balances (see instructions)..... 1,666,341 0
31 Total liabilities and net assets/fund balances (see instructions). 1,666,364 0
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,666,341
2
Enter amount from Part I, line 27a .....................
2
-1,666,341
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
 
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
 
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a BANK OF AMERICA P 2017-08-30 2018-01-05
b TCW EMERGING P 2017-12-19 2018-03-28
c ISHARES S&P P 2018-03-28 2018-06-21
d CISCO SYSTEMS P 2018-03-27 2018-09-27
e DXC TECHNOLOGY P 2018-01-08 2018-10-03
PRINCIPAL SHORT P 2018-05-17 2018-10-03
PGIM TOTAL P 2018-04-23 2018-10-12
INGREDION P 2016-08-10 2018-03-27
EXXON MOBIL P 2013-04-03 2018-06-14
UBS E-TRACS P 2016-05-26 2018-06-21
PHILIP MORRIS P 2017-08-29 2018-09-06
BANK OF AMERICA P 2016-09-26 2018-10-03
JOHNSON & JOHNSON P 2016-09-26 2018-10-03
PRUDENTIAL P 2016-12-14 2018-10-03
BLACKROCKS P 2013-05-06 2018-10-12
CITIZENS P 2017-06-29 2018-01-05
UBS E-TRACS P 2017-03-28 2018-03-28
TCW EMERGING P 2017-12-19 2018-06-21
CISCO SYSTEMS P 2018-03-27 2018-09-27
DXC TECHNOLOGY P 2018-01-05 2018-10-03
PRUDENTIAL P 2018-09-06 2018-10-03
VANGUARD P 2017-12-19 2018-10-12
LEAR CORP P 2015-12-17 2018-03-27
MICROSOFT CORP P 2015-05-22 2018-06-14
UBS E-TRACS P 2016-03-07 2018-06-21
SYSCO CORP P 2017-06-29 2018-09-06
BROADRIDGE P 2015-01-09 2018-10-03
JOHNSON & JOHNSON P 2013-06-24 2018-10-03
PRUDENTIAL P 2016-12-14 2018-10-03
BLACKROCKS P 2014-12-15 2018-10-12
CORNING INC P 2017-06-29 2018-01-05
VANGUARD P 2017-09-05 2018-03-28
VANGUARD P 2017-12-19 2018-06-21
DXC TECHNOLOGY P 2018-01-08 2018-09-27
DELTA AIR LINES P 2018-03-27 2018-10-03
PGIM P 2018-04-23 2018-10-03
WELLS FARGO P 2017-12-19 2018-10-12
LEAR CORP P 2015-12-07 2018-03-27
OWENS CORNING P 2016-09-26 2018-06-14
SEAFARER OVERSEAS P 2015-10-02 2018-07-16
SYSCO CORP P 2016-09-26 2018-09-06
CDW CORP P 2014-11-25 2018-10-03
KIMBERLY CLARK CORP P 2013-10-15 2018-10-03
STARWOOD PPTY P 2016-12-14 2018-10-03
HOTCHKIS & WILEY P 2012-07-30 2018-10-12
JP MORGAN CHASE P 2017-08-29 2018-01-05
VANGUARD P 2017-09-05 2018-04-23
SEAFARER P 2017-12-19 2018-07-16
HOME DEPOT P 2017-12-22 2018-09-27
EXXON P 2017-12-22 2018-10-03
STEEL DYNAMICS P 2018-03-27 2018-10-03
OPPENHEIMER P 2018-10-12 2018-11-14
LEAR CORP P 2015-12-07 2018-03-27
OWENS CORNING P 2016-09-27 2018-06-14
ISHARES TRUST P 2013-02-04 2018-07-16
CDW CORP P 2014-11-25 2018-09-27
CENTERPOINT ENERGY P 2017-06-29 2018-10-03
MASTERCARD P 2017-09-28 2018-10-03
STARWOOD PPTY P 2016-12-15 2018-10-03
LITMAN GREGORY MASTERS P 2015-01-06 2018-10-12
JUNIPER NETWORKS P 2017-08-30 2018-01-05
CHEVRON P 2017-12-22 2018-06-14
SPDR GOLD P 2017-09-05 2018-07-16
MASTERCARD P 2017-09-29 2018-09-27
HOME DEPOT P 2017-12-22 2018-10-03
TARGET P 2018-09-06 2018-10-03
OPPENHEIMER P 2018-06-21 2018-11-14
BROADCOM P 2016-06-02 2018-03-27
OWENS CORNING P 2016-09-27 2018-06-14
ISHARES TRUST P 2011-09-15 2018-07-16
MICROSOFT P 2015-05-22 2018-09-27
CHEVRON P 2014-09-23 2018-10-03
MICROSOFT P 2015-05-22 2018-10-03
STARWOOD PPTY P 2016-12-15 2018-10-03
LITMAN GREGORY MASTERS P 2017-09-05 2018-10-12
MORGAN STANELY P 2017-08-30 2018-01-05
CITIGROIP P 2018-01-05 2018-06-14
ALPHABET P 2017-12-22 2018-09-06
MASTERCARD P 2017-09-28 2018-09-27
INTEL CORP P 2018-09-06 2018-10-03
TYSON FOODS P 2018-03-27 2018-10-03
SPDR GOLD P 2017-09-05 2018-12-31
SEAFARER OVERSEAS P 2016-05-10 2018-03-28
OWENS CORNING P 2016-11-30 2018-06-14
ABBVIE P 2013-04-03 2018-09-06
ROYAL CARRIBEAN P 2014-03-12 2018-09-27
CITIZENS P 2016-12-01 2018-10-03
MORGAN STANLEY P 2017-08-30 2018-10-03
STRYKER P 2016-09-26 2018-10-03
PRINCIPAL SHORT P 2016-12-14 2018-10-12
PRUDENTIAL P 2017-06-29 2018-01-05
INTEL CORP P 2017-08-29 2018-06-14
BEST BUY P 2018-03-27 2018-09-06
VISA P 2018-09-06 2018-09-27
JOHNSON & JOHNSON P 2018-09-06 2018-10-03
TYSON FOODS P 2018-03-27 2018-10-03
BANK OF AMERICA P 2016-09-26 2018-01-05
SEAFARER OVERSEAS P 2015-10-02 2018-03-28
STANLEY BLACK & DECKER P 2015-08-20 2018-06-14
APPLE P 2011-09-16 2018-09-06
STARWOOD PPTY P 2017-06-29 2018-09-28
CITIZENS P 2016-12-01 2018-10-03
MORGAN STANLEY P 2016-12-01 2018-10-03
STRYKER P 2016-06-02 2018-10-03
T ROWE PRICE P 2013-10-23 2018-10-12
CHUBB LIMTED P 2017-09-27 2018-01-05
MASTERCARD P 2017-09-29 2018-06-14
KIMBERLY CLARK P 2018-06-15 2018-09-06
ROYAL CARRIBEAN P 2017-12-22 2018-09-27
KEY CORP P 2018-06-15 2018-10-03
VISA P 2018-09-06 2018-10-03
CITIZENS P 2016-12-01 2018-01-15
UBS E-TRACS P 2014-12-15 2018-03-28
UNITEDHEALTH P 2016-06-02 2018-06-14
BAXTER INTERNATIONAL P 2017-03-30 2018-09-06
AT&T P 2015-05-11 2018-10-03
CITIZENS P 2016-12-02 2018-10-03
MORGAN STANELY P 2016-12-02 2018-10-03
SYSCO P 2016-09-26 2018-10-03
T ROWE PRICE P 2015-05-07 2018-10-12
JUNIPER NETWORKS P 2017-12-22 2018-01-08
PERSPECTA P 2018-01-08 2018-06-14
NORFOLK SOUTHERN P 2018-06-15 2018-09-06
AT&T P 2018-09-27 2018-10-03
KIMBERLY CLARK P 2018-06-15 2018-10-03
WALMART P 2018-09-06 2018-10-03
JUNIPER NETWORKS P 2016-11-30 2018-01-05
UBS E-TRACS P 2016-05-26 2018-03-28
VALERO ENERGY P 2017-02-28 2018-06-14
BAXTER INTERNATIONAL P 2017-03-30 2018-09-06
ALPHABET INC P 2015-09-25 2018-10-03
COMCAST P 2016-09-26 2018-10-03
PVH CORP P 2017-08-30 2018-10-03
T-MOBILE P 2017-04-24 2018-10-03
VANGUARD P 2017-09-05 2018-10-12
AVERY DENNISON P 2017-09-28 2018-03-27
PERSPECTA P 2018-01-05 2018-06-14
PHILIP MORRIS P 2017-12-22 2018-09-06
AMERICAN EXPRESS P 2018-06-14 2018-10-03
MICROCHIP P 2018-06-14 2018-10-03
WASTE MGMT P 2018-06-15 2018-10-03
JUNIPER NETWORKS P 2016-12-01 2018-01-15
PHILIP MORRIS P 2013-10-15 2018-05-16
CHUBB LIMITED P 2016-06-03 2018-06-14
BROADRIDGE P 2017-02-28 2018-09-06
AMERICAN TOWER P 2016-12-15 2018-10-03
COMCAST CORP P 2013-11-27 2018-10-03
PACKAGING CORP P 2016-09-26 2018-10-03
UNITEDHEALTH P 2016-06-02 2018-10-03
VANGUARD P 2015-04-21 2018-10-12
AVERY DENNISON P 2017-09-29 2018-03-27
STEEL DYNAMICS P 2018-03-27 2018-06-14
PHILIP MORRIS P 2018-06-14 2018-09-06
AMGEN P 2017-12-22 2018-10-03
MICROCHIP P 2018-06-14 2018-10-03
WELLCARE P 2018-09-06 2018-10-03
JUNIPER NETWORKS P 2016-12-01 2018-01-08
BOING CO P 2015-08-20 2018-06-14
CHUBB LIMTED P 2016-06-06 2018-06-14
BROADRIDGE P 2015-01-08 2018-09-06
AMERICAN TOWER P 2016-12-15 2018-10-03
DR HORTON P 2015-08-21 2018-10-03
PFIZER P 2015-08-20 2018-10-03
VALERO ENERGY P 2017-02-28 2018-10-03
PVH CORP P 2017-08-30 2018-11-28
FEDEX CORP P 2017-12-22 2018-03-27
CHUBB LIMTED P 2017-12-22 2018-06-14
WASTE MGMT P 2018-06-15 2018-09-06
BEST BUY P 2018-03-27 2018-10-03
MICROCHIP P 2018-06-15 2018-10-03
COHEN & STEERS P 2018-06-21 2018-10-12
DR. PEPPER P 2016-09-26 2018-03-27
BOING CO P 2013-06-24 2018-06-14
STANLEY BLACK & DECKER P 2015-08-20 2018-06-15
JP MORGAN P 2016-02-03 2018-09-06
AMGEN P 2016-11-30 2018-10-03
EXELON CORP P 2016-08-09 2018-10-03
PFIZER P 2015-08-20 2018-10-03
VANGUARD P 2017-09-05 2018-10-03
PVH CORP P 2017-08-30 2018-03-27
CHUBB LIMITED P 2017-08-29 2018-06-14
TE CONNECTIBITY P 2018-01-08 2018-09-06
BRISTOL MYERS P 2018-09-06 2018-10-03
NETAPP P 2018-09-06 2018-10-03
ISHARES S&P P 2018-06-21 2018-10-12
HONEYWELL P 2016-06-03 2018-03-27
CDW CORP P 2014-11-25 2018-06-14
HOTCHKIS & WILEY P 2012-07-30 2018-06-21
LAM RESH CORP P 2015-08-21 2018-09-06
AMGEN P 2013-04-03 2018-10-03
FACEBOOK P 2016-08-09 2018-10-03
PROLOGIS P 2016-02-03 2018-10-03
ROYAL CARRIBEAN P 2014-03-12 2018-10-03
BROADCOM LTD P 2017-12-22 2018-03-27
HOME DEPOT P 2017-12-22 2018-06-15
TE CONNECTIVITY P 2018-01-05 2018-09-06
CATERPILLAR P 2018-03-27 2018-10-03
NORFOLK SOUTERN P 2018-06-15 2018-10-03
LITMAN GREGORY P 2017-12-19 2018-10-12
INGREDION P 2017-02-28 2018-03-27
DR PEPPER P 2016-09-26 2018-06-14
OPPENHEIMER P 2012-10-12 2018-06-21
LEAR CORP P 2015-12-07 2018-09-06
APPLE P 2011-09-16 2018-10-03
INTEL CORP P 2017-08-29 2018-10-03
PRUDENTIAL P 2017-08-29 2018-10-03
ROYAL CARRIBEAN P 2014-03-12 2018-10-03
SPDR GOLD P 2017-09-08 2018-03-28
HOTCHKIS & WILEY P 2018-05-17 2018-06-21
AMERICAN EXPRESS P 2018-06-14 2018-09-27
CISCO P 2018-03-27 2018-10-03
ONEOK P 2018-06-15 2018-10-03
NORTHERN P 2018-07-16 2018-10-12
INGREDION P 2016-08-09 2018-03-27
DR PEPPER P 2014-11-24 2018-06-14
TCW EMERGING P 2016-10-18 2018-06-21
MICROSOFT P 2015-05-22 2018-09-06
APPLE P 2013-06-26 2018-10-03
JP MORGAN P 2016-02-03 2018-10-03
PRUDENTIAL P 2017-06-29 2018-10-03
AMERICAN BEACON P 2015-05-07 2018-10-12
(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 2,113   666 1,447
b 5,471   5,642 -171
c 9,350   9,487 -137
d 48   44 4
e 1,030   963 67
7,856   7,856  
14,342   14,590 -248
3,615   3,862 -247
1,391   1,541 -150
4,899   5,734 -835
3,779   5,601 -1,822
2,941   1,511 1,430
973   827 146
938   938  
17,839   18,751 -912
701   577 124
7,270   9,947 -2,677
107   116 -9
966   880 86
1,779   1,649 130
923   900 23
18,927   21,112 -2,185
944   632 312
1,012   472 540
5,566   5,789 -223
749   500 249
2,983   1,074 1,909
1,529   938 591
102   104 -2
4,511   4,737 -226
7,343   6,596 747
37,736   39,137 -1,401
13,760   14,594 -834
1,405   1,314 91
3,152   3,209 -57
19,641   19,952 -311
12,479   12,631 -152
189   126 63
129   110 19
12,731   10,867 1,864
824   539 285
2,911   1,156 1,755
1,576   1,298 278
469   489 -20
11,805   12,362 -557
1,083   912 171
49,960   52,264 -2,304
4,350   4,799 -449
620   563 57
2,325   2,263 62
1,891   1,805 86
2,367   2,488 -121
566   376 190
4,312   3,620 692
25,724   14,122 11,602
708   280 428
1,769   1,790 -21
2,678   1,681 997
1,791   1,839 -48
2,336   2,326 10
916   876 40
1,770   1,753 17
8,692   9,420 -728
223   141 82
2,655   2,441 214
2,759   2,865 -106
9,259   9,470 -211
6,274   3,864 2,410
64   54 10
72,586   31,533 41,053
572   236 336
2,254   2,223 31
2,996   1,226 1,770
192   197 -5
3,024   3,087 -63
899   777 122
5,963   6,771 -808
1,199   1,069 130
1,335   841 494
1,316   1,289 27
2,168   2,168  
29   30 -1
2,601   2,160 441
708   567 141
6,929   3,006 3,923
646   256 390
311   278 33
236   229 7
525   352 173
32,963   33,265 -302
699   653 46
1,052   660 392
636   550 86
600   574 26
695   678 17
709   897 -188
181   93 88
14,952   11,571 3,381
1,853   1,367 486
1,131   285 846
1,028   1,077 -49
1,516   1,338 178
566   504 62
2,627   1,689 938
13,590   10,456 3,134
718   709 9
1,595   1,129 466
574   511 63
775   726 49
2,577   2,612 -35
2,990   2,868 122
438   347 91
6,895   12,551 -5,656
1,020   543 477
5,190   3,655 1,535
271   268 3
544   478 66
1,510   1,330 180
2,466   1,665 801
8,760   6,683 2,077
820   838 -18
293   338 -45
1,050   923 127
2,876   2,844 32
901   818 83
2,542   2,598 -56
258   248 10
3,520   4,549 -1,029
3,035   1,766 1,269
2,744   1,922 822
2,419   1,290 1,129
1,263   1,206 57
2,220   2,029 191
3,095   2,939 156
18,586   19,689 -1,103
2,319   2,198 121
542   619 -77
709   946 -237
2,606   2,392 214
1,950   1,950  
2,863   2,686 177
973   929 44
25,000   25,177 -177
1,951   1,910 41
543   278 265
863   638 225
1,683   1,189 494
1,588   1,230 358
3,251   1,630 1,621
18,242   18,784 -542
2,951   2,774 177
780   705 75
1,575   1,615 -40
827   705 122
226   308 -82
3,155   3,111 44
4,328   4,180 148
1,445   554 891
3,121   3,055 66
1,630   561 1,069
863   638 225
2,362   1,774 588
491   391 100
2,281   1,291 990
3,102   3,552 -450
6,875   7,272 -397
780   873 -93
822   756 66
2,629   2,408 221
1,130   1,525 -395
1,353   1,444 -91
1,534   1,188 346
361   97 264
4,216   3,154 1,062
571   284 287
1,034   726 308
2,148   1,814 334
2,949   2,302 647
19,641   20,746 -1,105
1,004   888 116
260   284 -24
3,768   4,178 -410
3,321   3,243 78
3,089   3,013 76
7,411   7,774 -363
6,849   5,340 1,509
921   385 536
8,521   8,841 -320
6,437   2,837 3,600
1,448   735 713
2,430   1,887 543
1,783   1,058 725
897   358 539
753   788 -35
797   751 46
3,051   3,373 -322
3,006   2,841 165
3,096   2,615 481
2,392   2,431 -39
646   609 37
121   91 30
5,461   5,885 -424
5,419   4,257 1,162
3,016   740 2,276
1,852   1,321 531
410   406 4
1,666   659 1,007
7,926   8,030 -104
3,195   3,189 6
647   598 49
2,947   2,641 306
2,188   2,188  
3,636   3,820 -184
1,162   1,242 -80
5,428   3,268 2,160
7,390   7,859 -469
650   283 367
232   57 175
2,647   1,305 1,342
410   435 -25
12,479   11,813 666
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       1,447
b       -171
c       -137
d       4
e       67
       
      -248
      -247
      -150
      -835
      -1,822
      1,430
      146
       
      -912
      124
      -2,677
      -9
      86
      130
      23
      -2,185
      312
      540
      -223
      249
      1,909
      591
      -2
      -226
      747
      -1,401
      -834
      91
      -57
      -311
      -152
      63
      19
      1,864
      285
      1,755
      278
      -20
      -557
      171
      -2,304
      -449
      57
      62
      86
      -121
      190
      692
      11,602
      428
      -21
      997
      -48
      10
      40
      17
      -728
      82
      214
      -106
      -211
      2,410
      10
      41,053
      336
      31
      1,770
      -5
      -63
      122
      -808
      130
      494
      27
       
      -1
      441
      141
      3,923
      390
      33
      7
      173
      -302
      46
      392
      86
      26
      17
      -188
      88
      3,381
      486
      846
      -49
      178
      62
      938
      3,134
      9
      466
      63
      49
      -35
      122
      91
      -5,656
      477
      1,535
      3
      66
      180
      801
      2,077
      -18
      -45
      127
      32
      83
      -56
      10
      -1,029
      1,269
      822
      1,129
      57
      191
      156
      -1,103
      121
      -77
      -237
      214
       
      177
      44
      -177
      41
      265
      225
      494
      358
      1,621
      -542
      177
      75
      -40
      122
      -82
      44
      148
      891
      66
      1,069
      225
      588
      100
      990
      -450
      -397
      -93
      66
      221
      -395
      -91
      346
      264
      1,062
      287
      308
      334
      647
      -1,105
      116
      -24
      -410
      78
      76
      -363
      1,509
      536
      -320
      3,600
      713
      543
      725
      539
      -35
      46
      -322
      165
      481
      -39
      37
      30
      -424
      1,162
      2,276
      531
      4
      1,007
      -104
      6
      49
      306
       
      -184
      -80
      2,160
      -469
      367
      175
      1,342
      -25
      666
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 97,596
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 -7,865
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 109,020 1,892,250 0.057614
2016 112,124 1,808,709 0.061991
2015 109,241 1,895,969 0.057618
2014 117,046 1,996,600 0.058623
2013 115,758 1,933,560 0.059868
2
Total of line 1, column (d) .....................
2
0.295714
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
0.059143
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
1,932,513
5
Multiply line 4 by line 3......................
5
114,295
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,112
7
Add lines 5 and 6........................
7
115,407
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,787,996
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 1,112
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 1,112
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,112
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 1,200
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,200
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 88
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet0 RefundedBullet 11 88
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
Yes
 
If "Yes," attach the statement required by General Instruction T.Click to see attachment
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletWILLIAM KNIGHT - EXECUTIVE DIRECTOR Telephone no.bullet (919) 749-5254

    Located atbulletPO BOX 10788RALEIGHNC ZIP+4bullet27605
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    HOYT G TESSENER PRESIDENT
    000.00     		0 0 0
    2105 PRESCOTT PLACE
    RALEIGH,NC27615
    MELANIE KNIGHT VP
    000.00     		0 0 0
    4017 LAKE POINT CIRCLE
    RALEIGH,NC27606
    CYNTHIA BUCKINGHAM VP
    000.00     		0 0 0
    7540 DRAYTON COURT
    RALEIGH,NC27615
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,862,651
    b
    Average of monthly cash balances.......................
    1b
    99,291
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,961,942
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    1,961,942
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    29,429
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,932,513
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    96,626
    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
    96,626
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,112
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,112
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    95,514
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    95,514
    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
    95,514
    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
    1,787,996
    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
    1,787,996
    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
    1,112
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,786,884
    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 95,514
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only.......  
    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...... 6,851
    fTotal of lines 3a through e........ 6,851
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,787,996
    a Applied to 2017, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 95,514
    e Remaining amount distributed out of corpus 1,692,482
    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 1,699,333
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		1,699,333
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017.... 6,851
    e Excess from 2018.... 1,692,482
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    WILLIAM KNIGHT
    PO BOX 10788
    RALEIGH,NC27605
    (919) 749-5254
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS MUST BE WRITTEN, MUST INCLUDE EVIDENCE THAT RECIPIENT IS AN EXEMPT CHARITABLE ORGANIZATION, AND MUST INCLUDE FACTS TO SUPPORT NEED.
    cAny submission deadlines:
    N/A
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    N/A
    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
    ASSOC FOR WELFARE OF ANIMALS
    PO BOX 564
    SHELBY,NC28151     		N/A 501(C)3 ANIMAL WELFARE 4,000
    BOYS & GIRLS CLUB OF CLEVELAND COUN
    PO BOX 2001
    SHELBY,NC28151     		N/A 501(C)3 ONGOING OPERATIONS 5,000
    BROTHERS IN CHRIST OUTREACH MINISTR
    PO BOX 1264
    SHELBY,NC28151     		N/A 501(C)3 YOUTH DEVELOPMENT 2,000
    CAMPBELL LAW CLINIC
    225 HILLSBOROUGH STREET
    RALEIGH,NC27603     		N/A 501(C)3 COMMUNITY DEVELOPMENT 25,000
    CHILDREN'S HOME OF CLEVELAND COUNTY
    PO BOX 2053
    SHELBY,NC28151     		N/A 501(C)3 HUMAN SERVICES 2,000
    CLEVELAND COUNTY ARTS COUNCIL
    111 S WASHINGTON ST
    SHELBY,NC28150     		N/A 501(C)3 COMMUNITY DEVELOPMENT 3,000
    COMMUNITY MATH ACADEMY
    PO BOX 687
    SHELBY,NC28151     		N/A 501(C)3 EDUCATION 2,000
    CONNECT COMMIT TO CHANGE
    132 W GRAHAM STREET
    SHELBY,NC28151     		N/A 501(C)3 COMMUNITY DEVELOPMENT 500
    CROSSROADS RESCUE MISSION
    PO BOX 2090
    SHELBY,NC28151     		N/A 501(C)3 HUMAN SERVICES 1,000
    EMPTY STOCKING FUND
    PO BOX 48
    SHELBY,NC28151     		N/A 501(C)3 COMMUNITY DEVELOPMENT 2,500
    FIRST BAPTIST CHURCH
    120 N LAFAYETTE STREET
    SHELBY,NC28150     		N/A 501(C)3 ONGOING OPERATIONS 30,000
    GWU SCHOOL OF DIVINITY
    PO BOX 997
    BOILING SPRINGS,NC28017     		N/A 501(C)3 SCHOLARSHIP 10,000
    JUNIOR CHARITY LEAGUE OF SHELBY
    PO BOX 1324
    SHELBY,NC28151     		N/A 501(C)3 COMMUNITY DEVELOPMENT 1,000
    NORTH CAROLINA SYMPHONY
    3700 GLENWOOD AVE STE 130
    RALEIGH,NC27612     		N/A 501(C)3 MUSIC 2,000
    PENLAND SCHOOL OF CRAFTS
    PO BOX 37
    PENLAND,NC28765     		N/A 501(C)3 ART & CRAFTS 3,000
    SALVATION ARMY
    PO BOX 1764
    SHELBY,NC28151     		N/A 501(C)3 PUBLIC SERVICE 5,000
    UPPER CLEVELAND RESCUE
    1032 W STAGE COACH TRAIL
    LAWNDALE,NC28090     		N/A 501(C)3 RESCUE 2,000
    WNCW
    PO BOX 804
    SPINDALE,NC28160     		N/A 501(C)3 RADIO 1,000
    CLEVELAND COUNTY SHERIFF'S OFFICE
    PO BOX 1508
    SHELBY,NC28151     		N/A 501(C)3 ONGOING OPERATIONS 20,000
    BAILEY ENDOWMENT INC
    PO BOX 10788
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAM 109,641
    BAILEY ENDOWMENT INC
    PO BOX 10788
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAM 1,553,807
    BAILEY ENDOWMENT INC
    PO BOX 10788
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAM 97
    BAILEY ENDOWMENT INC
    PO BOX 10788
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAM 1,000
    BAILEY ENDOWMENT INC
    PO BOX 10788
    RALEIGH,NC27605     		N/A 501(C)3 ONGOING PROGRAM 2,451
    Total .................................bullet 3a 1,787,996
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 1,293  
    4 Dividends and interest from securities....     14 30,566  
    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 ............     		    25 99,958 12,220
    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)..   131,817 12,220
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    144,037
    (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:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 2,325      
    ACCOUNTING FEES - FIFTH THIRD 400 400    

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

    TY 2018 GainLossSaleOtherAssetsSch
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    VANGUARD REAL 2011-09 PURCHASE 2018-06   31,040 19,355     11,685  
    BROADRIDGE 2015-01 PURCHASE 2018-09   815 280     535  
    BOEING 2013-06 PURCHASE 2018-10   3,143 779     2,364  
    STARWOOD PPTY 2017-06 PURCHASE 2018-10   43 45     -2  

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Name of Stock End of Year Book Value End of Year Fair Market Value
    FIFTH THIRD BANK - INVESTMENT ACCOUN    

    TY 2018 LiquidationExplanationStmt
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Statement:
    JOSEPH M. WRIGHT CHARITABLE FOUNDATION, INC. LIQUIDATED AND DISSOLVED THE PRIVATE FOUNDATION EFFECTIVE DECEMBER 31, 2018. THE ORGANIZATION WAS MANAGED BY THE SAME BOARD OF DIRECTORS AS THE BAILEY ENDOWMENT, INC. ALL ASSETS WERE TRANSFERRED TO THE BAILEY ENDOWMENT, INC. EFFECTIVE DECEMBER 31, 2018. THE FEDERAL IDENTIFICATION NUMBER FOR BAILEY ENDOWMENT, INC. IS 56-1802700. NO CERTIFIED PLAN OF LIQUIDATION WAS REQUIRED. ARTICLES OF DISSOLUTION WAS FILED WITH THE STATE OF NORTH CAROLINA. . ASSETS TRANSFERRED TO BAILEY ENDOWMENT, INC: . CASH 109,641.40 SECURITIES 1,553,903.79 . BAILEY ENDOWMENT, INC. P.O. BOX 10788 RALEIGH, NC 27605


    TY 2018 OtherAssetsSchedule
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    DEPOSIT ON LAND 2,451    
    ROUNDING 3    


    TY 2018 OtherExpensesSchedule
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    MANAGEMENT FEES 16,218 16,218    
    OUTSIDE CONTRACT SERVICES 1,806      
    ROUNDING 2      


    TY 2018 OtherLiabilitiesSchedule
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Description Beginning of Year - Book Value End of Year - Book Value
    EXCISE TAX PAYABLE 23  


    TY 2018 TaxesSchedule
    Name:
    JOSEPH M WRIGHT CHAR FOUND INC
    EIN:
    56-1872992
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES PAID ON INVESTMENT 519 519    
    EXCISE TAX 1,112 1,112