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 DAVID BELK CANNON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 3746
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GASTONIA, NC280540038
A Employer identification number

27-0004751
B Telephone number (see instructions)

(704) 854-6006
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$109,461,277J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,168,052 2,168,052  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,372,842
b Gross sales price for all assets on line 6a 55,331,782
7 Capital gain net income (from Part IV, line 2)... 2,372,842
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 513 0  
12 Total. Add lines 1 through 11........ 4,541,407 4,540,894  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 247,000 68,200   262,800
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 7,253 2,442   1,580
16a Legal fees (attach schedule)......... Click to see attachment 22,803 5,701   20,473
b Accounting fees (attach schedule)....... Click to see attachment 16,365 0   12,630
c Other professional fees (attach schedule).... Click to see attachment 327,952 314,922   13,030
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 82,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 3,465 0   3,465
21 Travel, conferences, and meetings....... 4,000 0   4,000
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 67,338 33,990   30,063
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 778,176 425,255   348,041
25 Contributions, gifts, grants paid....... 7,510,500 6,268,833
26 Total expenses and disbursements. Add lines 24 and 25 8,288,676 425,255   6,616,874
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,747,269
b Net investment income (if negative, enter -0-) 4,115,639
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 408,332 73,432 73,432
2 Savings and temporary cash investments......... 8,400,138 908,863 908,863
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.......... 3,780    
10a Investments—U.S. and state government obligations (attach schedule) 21,690,106 Click to see attachment21,975,599 21,975,599
b Investments—corporate stock (attach schedule)....... 71,491,075 Click to see attachment64,860,912 64,860,912
c Investments—corporate bonds (attach schedule)....... 6,898,070 Click to see attachment7,387,442 7,387,442
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 16,181,212 Click to see attachment13,770,897 13,770,897
14 Land, buildings, and equipment: basis bullet484,132
Less: accumulated depreciation (attach schedule) bullet   0 Click to see attachment484,132 484,132
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 125,072,713 109,461,277 109,461,277
Liabilities 17 Accounts payable and accrued expenses.......... 196,264 68,609
18 Grants payable................. 1,675,000 2,916,667
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 1,871,264 2,985,276
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.................. 123,201,449 106,476,001
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    
30 Total net assets or fund balances (see instructions)..... 123,201,449 106,476,001
31 Total liabilities and net assets/fund balances (see instructions). 125,072,713 109,461,277
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
123,201,449
2
Enter amount from Part I, line 27a .....................
2
-3,747,269
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
12,000
4
Add lines 1, 2, and 3 ..........................
4
119,466,180
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
12,990,179
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
106,476,001
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY-TRADED SECURITIES      
b CAPITAL LOSS FROM K-1S P    
c CAPITAL GAINS DIVIDENDS P    
d
e
(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 53,191,679   52,933,177 258,502
b     25,763 -25,763
c 2,140,103     2,140,103
d
e
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       258,502
b       -25,763
c       2,140,103
d
e
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 2,372,842
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 6,152,324 129,490,203 0.047512
2016      
2015      
2014      
2013      
2
Total of line 1, column (d) .....................
2
0.047512
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
0.047512
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
119,070,230
5
Multiply line 4 by line 3......................
5
5,657,265
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
41,156
7
Add lines 5 and 6........................
7
5,698,421
8
Enter qualifying distributions from Part XII, line 4,.............
8
6,616,874
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 41,156
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 41,156
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 41,156
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 34,036
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 60,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 94,036
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
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 52,880
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet52,880 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    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 ofbulletERNEST SUMNER Telephone no.bullet (704) 864-0927

    Located atbullet1201 E GARRISON BLVDGASTONIANC ZIP+4bullet28054
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    B FRANK MATTHEWS II CHAIRMAN
    4.00     		53,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    EUGENE R MATTHEWS II PRESIDENT/CEO/TREASURER
    25.00     		140,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    MARY M VAUGHN SECRETARY
    0.50     		13,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    HARRIET M JACKSON DIRECTOR
    0.50     		13,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    VANN M MATTHEWS II DIRECTOR
    1.00     		13,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    DR RICHARD E RANKIN JR DIRECTOR
    4.00     		15,000 0 0
    PO BOX 3746
    GASTONIA,NC280540038
    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
    ALEX BROWN FINANCIAL CONSULTING FEES 261,423
    100 N MAIN ST STE 2400
    WINSTONSALEM,NC27101
    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.........................bullet0
    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
    99,870,946
    b
    Average of monthly cash balances.......................
    1b
    3,015,922
    c
    Fair market value of all other assets (see instructions)................
    1c
    17,996,614
    d
    Total (add lines 1a, b, and c).........................
    1d
    120,883,482
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    120,883,482
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,813,252
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    119,070,230
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    5,953,512
    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
    5,953,512
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    41,156
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    41,156
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,912,356
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,912,356
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    5,912,356
    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
    6,616,874
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    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
    6,616,874
    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
    41,156
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    6,575,718
    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 5,912,356
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 284,884
    b Total for prior years:20, 20, 20 0
    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........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 6,616,874
    a Applied to 2017, but not more than line 2a 284,884
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 5,912,356
    e Remaining amount distributed out of corpus 419,634
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 419,634
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		419,634
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018.... 419,634
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    CHRIST SCHOOL
    500 CHRIST SCHOOL RD
    ARDEN,NC28704     		N/A PC GENERAL SUPPORT 1,500
    CITIZENS FOR NUCLEAR TECHNOLOGY AWARENESS
    1204 WHISKEY ROAD RM B
    AIKEN,SC29803     		N/A PC GENERAL SUPPORT 500
    GASTON COMMUNITY FOUNDATION
    1201 E GARRISON BLVD
    GASTONIA,NC28054     		N/A PC GENERAL SUPPORT, DBC DAF FUND 400,000
    CRISIS ASSISTANCE MINISTRY
    805 W AIRLINE AVE STE B
    GASTONIA,NC28052     		N/A PC GENERAL SUPPORT 25,000
    CROWDER'S RIDGE CAMP AND RETREAT
    PO BOX 1
    LOWELL,NC28098     		N/A PC GENERAL SUPPORT 175,000
    DAVIDSON COLLEGE
    405 N MAIN ST
    DAVIDSON,NC28035     		N/A PC GENERAL SUPPORT 2,000,000
    DC VIRGO PREPARATORY ACADEMY
    813 NIXON ST
    WILMINGTON,NC28401     		N/A PC ACTION BASE LEARNING NC INITIATIVE 25,000
    FIRST ARP CHURCH
    317 S CHESTER ST
    GASTONIA,NC28052     		N/A PC CAPITAL CAMPAIGN 175,000
    GASTON COUNTY FAMILY YMCA
    2221 ROBINWOOD RD
    GASTONIA,NC28054     		N/A PC WARLICK YMCA CAPITAL CAMPAIGN 3,000
    GASTON COUNTY SCHOOLS
    943 OSCEOLA STREET
    GASTONIA,NC28054     		N/A GOV SCHOOL BOND CAMPAIGN 2,500
    GASTON COUNTY JAYCEES
    PO BOX 4
    GASTONIA,NC28053     		N/A NC DISTINGUISHED SERVICE AWARDS 28,000
    GASTON MEMORIAL HOSPITAL FOUNDATION
    2525 COURT DR PO BOX 1747
    GASTONIA,NC28054     		N/A PC VASCULAR HYBRID OPERATING ROOM 833,333
    HEART SOCIETY OF GASTON COUNTY INC
    1201 E GARRISON BLVD
    GASTONIA,NC28054     		N/A PC GENERAL SUPPORT - MEDICINE COSTS 5,000
    KENAN-FLAGLER BUSINESS SCHOOL FOUNDATION
    205 KENAN CENTER CAMPUS BOX 3490
    CHAPEL HILL,NC275993490     		N/A PC INSTITUTE FOR PRIVATE CAPITAL 75,000
    THE HISTORIC PRESERVATION FOUNDATION OF NORTH CAROLINA
    PO BOX 27644
    RALEIGH,NC276117644     		N/A PC ALFRED C. KESSELL HISTORY CENTER AT LORAY MILL 10,000
    LEAD THE WAY FUND INC
    300 GARDEN CITY PLAZA NO 149
    GARDEN CITY,NY11530     		N/A PC GENERAL SUPPORT 10,000
    LIFE ENRICHMENT CENTER OF CLEVELAND COUNTY
    110 LIFE ENRICHMENT BLVD
    SHELBY,NC28150     		N/A PC CAPITAL CAMPAIGN 250,000
    MCCALLIE SCHOOL
    500 DODDS AVE
    CHATTANOOGA,TN37404     		N/A PC GENERAL SUPPORT 1,000,000
    NATIONAL MULTIPLE SCLEROSIS SOCIETY
    1800 M ST NW STE 750 SOUTH
    WASHINGTON,DC20036     		N/A PC WALK MS 25,000
    ORCHARD VILLAGE
    7660 GROSS POINT ROAD
    SKOKIE,IL60077     		N/A PC GENERAL SUPPORT 1,500
    PAVILLON INTERNATIONAL
    241 PAVILLON PL
    MILL SPRING,NC28756     		N/A PC GENERAL SUPPORT 100,000
    PHILANTHROPY ROUNDTABLE
    1730 M ST NW STE 601
    WASHINGTON,DC20036     		N/A PC GENERAL SUPPORT 25,000
    SAINT MARY'S SCHOOL
    900 HILLSBOROUGH STREET
    RALEIGH,NC27603     		N/A PC GENERAL SUPPORT 1,500
    THE SALVATION ARMY
    PO BOX 1094
    GASTONIA,NC28053     		N/A PC GENERAL SUPPORT 25,000
    SOCKS INC
    PO BOX 269
    GASTONIA,NC28101     		N/A PC GENERAL SUPPORT 25,000
    SOUTHERN EVANGELICAL SEMINARY
    15015 LANCASTER HWY
    CHARLOTTE,NC28277     		N/A PC JAMISON LIBRARY 100,000
    UNITED WAY OF AIKEN COUNTY
    PO BOX 699
    AIKEN,SC29802     		N/A PC GENERAL SUPPORT 20,000
    THE BASCOM CORPORATION
    323 FRANKLIN RD
    HIGHLANDS,NC28741     		N/A PC CAPITAL CAMPAIGN 150,000
    THE UNITED WAY OF GASTON COUNTY
    PO BOX 2597
    GASTONIA,NC28053     		N/A PC GENERAL SUPPORT 25,000
    WOFFORD COLLEGE
    429 N CHURCH ST
    SPARTANBURG,SC29303     		N/A PC ANNUAL FUND 2,000
    WOODBERRY FOREST SCHOOL
    898 WOODBERRY FOREST RD
    WOODBERRY FOREST,VA22989     		N/A PC CAPITAL CAMPAIGN 750,000
    Total .................................bullet 3a 6,268,833
    bApproved for future payment
    GASTON MEMORIAL HOSPITAL FOUNDATION
    2525 COURT DR PO BOX 1747
    GASTONIA,NC28054     		N/A PC VASCULAR HYBRID OPERATING ROOM 1,666,667
    LIFE ENRICHMENT CENTER OF CLEVELAND COUNTY
    110 LIFE ENRICHMENT BLVD
    SHELBY,NC28150     		N/A PC CAPITAL CAMPAIGN 500,000
    Total .................................bullet 3b 2,166,667
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 2,168,052  
    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..... 525990 513      
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,372,842  
    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).. 513 4,540,894 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,541,407
    (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:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT & TAX RETURN PREPARATION 16,365 0   12,630

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AETNA, INC. 2.8000% DUE 06/15/2023 95,101 95,101
    ALEXANDRIA REAL ESTATE EQUITIES, INC. 3.9500% DUE 01/15/2027 48,517 48,517
    ALLY AUTO RECV TR 2017-4 A-4 73,904 73,904
    AMAZON.COM, INC. 3.9500% DUE 01/15/2027 24,137 24,137
    AMERICAN EXPRESS CREDIT CORPORATION 2.6000% DUE 09/14/2020 74,233 74,233
    AMERICAN INTERNATIONAL GROUP, INC. 4.2000% DUE 04/01/2028 38,534 38,534
    AMERICAN INTERNATIONAL GROUP, INC. 4.8750% DUE 06/01/2022 (026874CU9) 77,815 77,815
    AMERISOURCEBERGEN CORPORATION 3.2500% DUE 03/01/2025 47,752 47,752
    ANDEAVOR LOGISTICS LP /TESORO LOGISTICS FINANCE CORP 3.2500% DUE 03/01/2025 19,454 19,454
    ANHEUSER-BUSCH COMPANIES LLC /ANHEUSER-BUSCH INBEV WORLDWIDE 3.6500% DUE 02/ 33,094 33,094
    ANHEUSER-BUSCH INBEV WORLDWIDE INC. 4.0000% DUE 04/13/2028 71,740 71,740
    ARCHER-DANIELS-MIDLAND COMPANY 2.5000% DUE 08/11/2026 106,649 106,649
    AT&T INC. 3.8000% DUE 03/01/2024 98,991 98,991
    BANK OF AMERICA CORPORATION 3.2480% DUE 10/21/2027 143,476 143,476
    BANK OF AMERICA CORPORATION 3.9700% DUE 03/05/2029 72,903 72,903
    BANK OF AMERICA CORPORATION 4.1250% DUE 01/22/2024 152,045 152,045
    BARCLAYS PLC 3.2000% DUE 08/10/2021 194,622 194,622
    BERKSHIRE HATHAWAY ENERGY COMPANY 3.2500% DUE 04/15/2028 58,979 58,979
    BP CAPITAL MARKETS PLC 2.3150% DUE 02/13/2020 99,112 99,112
    BROADCOM CORPORATION/BROADCOM CAYMAN FINANCE LTD 3.0000% DUE 01/15/2022 76,936 76,936
    CAPITAL ONE FINANCIAL CORPORATION 3.7500% DUE 03/09/2027 69,659 69,659
    CARMAX AUTO OWNER TR 2017-4 A-4 44,339 44,339
    CARMAX AUTO OWNER TR 2018-1 A-4 128,727 128,727
    CELGENE CORP 3.5500% DUE 08/15/2022 49,451 49,451
    CHARTER COMMUNICATIONS OPERATING, LLC/CHARTER COMMUNICATIONS 4.2000% DUE 03/ 56,520 56,520
    CHENIERE CORPUS CHRISTI HOLDINGS, LLC 5.1250% DUE 06/30/2027 33,042 33,042
    CHESAPEAKE FDG II LLC 2017-2 A-1 66,425 66,425
    CITIGROUP INC. 3.8870% DUE 01/10/2028 144,737 144,737
    CITIGROUP INC. 4.5000% DUE 01/14/2022 219,672 219,672
    COMCAST CORPORATION 4.7000% DUE 10/15/2048 40,435 40,435
    COMMONWEALTH EDISON COMPANY 2.9500% DUE 08/15/2027 96,156 96,156
    CONCHO RESOURCES INC. 3.7500% DUE 10/01/2027 23,534 23,534
    COX COMMUNICATIONS, INC. 3.1500% DUE 08/15/2024 28,860 28,860
    CSX CORPORATION 2.6000% DUE 11/01/2026 45,490 45,490
    CSX CORPORATION 3.3500% DUE 11/01/2025 77,825 77,825
    CVS HEALTH CORP SPECIAL 4.3000% DUE 03/25/2028 161,306 161,306
    DBCG MTG TR 2017-BBG A 108,349 108,349
    DELAMARE CARD MTN 2018-1 A1 149,981 149,981
    DIAMOND 1 FINANCE CORPORATION/DIAMOND 2 FINANCE CORPORATION 6.0200% DUE 06/1 65,294 65,294
    DIGITAL REALTY TRUST, L.P. 3.7000% DUE 08/15/2027 28,315 28,315
    DOLLAR TREE INC 4.2000% DUE 05/15/2028 18,944 18,944
    DOMINION RESOURCES, INC. 2.8500% DUE 08/15/2026 147,437 147,437
    DP WORLD LTD 6.8500% DUE 07/02/2037 110,950 110,950
    DUKE ENERGY CORP 3.1500% DUE 08/15/2027 140,028 140,028
    ECOPETROL S.A. 5.8750% DUE 05/28/2045 23,570 23,570
    ENERGY TRANSFER PARTNERS, L.P. 4.9000% DUE 02/01/2024 151,812 151,812
    EQT CORPORATION 3.9000% DUE 10/01/2027 12,930 12,930
    FIDELITY TOTAL BOND Z 109,137 109,137
    GENESIS ENERGY LP 6.7500% DUE 08/01/2022 39,000 39,000
    GILEAD SCIENCES, INC. 3.6500%DUE 03/01/2026 78,416 78,416
    GLENCORE FUNDING LLC 23,735 23,735
    GOLDMAN SACHS GROUP, INC. 2.7500% DUE 09/15/2020 133,604 133,604
    GOLDMAN SACHS GROUP, INC. 3.6910% DUE 06/05/2028 37,175 37,175
    GOLDMAN SACHS GROUP, INC. 3.8140% DUE 04/23/2029 32,677 32,677
    JPMORGAN CHASE & CO. 3.2500% DUE 09/23/2022 148,809 148,809
    JPMORGAN CHASE & CO. 4.4520% DUE 12/05/2029 147,487 147,487
    KINDER MORGAN, INC. 7.7500% DUE 01/15/2032 77,806 77,806
    KRAFT HEINZ FOODS COMPANY 3.9500% DUE 07/15/2025 135,486 135,486
    MAPLE ESCROW SUBSIDIARY INC 4.0570%DUE 05/25/2023 14,948 14,948
    MEDTRONIC, INC. 3.5000% DUE 03/15/2025 74,704 74,704
    MORGAN STANLEY (3MO LIBOR + 118BP) 3.6490% DUE 01/20/2022 74,754 74,754
    MORGAN STANLEY 4.0000% DUE 07/23/2025 143,050 143,050
    MPLX LP 4.1250% DUE 03/01/2027 19,042 19,042
    MYLAN NV 3.1500% DUE 06/15/2021 48,990 48,990
    NBC UNIVERSAL, INC. 5.1500% DUE 04/30/2020 71,862 71,862
    NEWS AMERICA INC 4.0000% DUE 10/01/2023 76,942 76,942
    NISSAN AUTO REC TR 2017-B A-4 54,073 54,073
    ORACLE CORPORATION 2.6500% DUE 07/15/2026 69,507 69,507
    OSCAR US FD TR IX 2018-9 A-4 100,717 100,717
    OSCAR US FD TR VII 2017-7 A-3 19,770 19,770
    OSCAR US FD TR VII 2017-7 A-4 29,499 29,499
    OSCAR US FD TR VIII 2018-8 A-4 140,447 140,447
    PETROBRAS GLOBAL FINANCE B.V. 7.3750% DUE 01/17/2027 51,375 51,375
    POST HOLDINGS INC. 5.5000% DUE 03/01/2025 43,191 43,191
    QUICKEN LOANS INC. 5.7500% DUE 05/01/2025 42,075 42,075
    REPUBLIC SERVICES, INC. 3.3750% DUE 11/15/2027 19,159 19,159
    REYNOLDS AMERICAN INC. 4.8500% DUE 09/15/2023 70,838 70,838
    ROGERS COMMUNICATIONS INC. 4.1000% DUE 10/01/2023 50,924 50,924
    SANTANDER DRIVE AUTO 2017-2 A-3 15,463 15,463
    SHIRE ACQUISITIONS INVESTMENTS 2.8750% DUE 09/23/2023 47,216 47,216
    SIMON PROPERTY GROUP, L.P. 3.5000% DUE 09/01/2025 78,370 78,370
    STARWOOD WAYPOINT HOMES 2017-1 A 98,029 98,029
    SUNCOR ENERGY INC. 3.6000% DUE 12/01/2024 49,063 49,063
    TEVA PHARMACEUTICAL FINANCE NETHERLANDS III B.V. 3.1500% DUE 10/01/2026 38,375 38,375
    THE DOW CHEMICAL COMPANY 3.5000% DUE 10/01/2024 144,740 144,740
    THERMO FISHER SCIENTIFIC INC 2.9500% DUE 09/19/2026 46,143 46,143
    TRANSCANADA PIPELINES LIMITED 4.2500% DUE 05/15/2028 74,037 74,037
    TRICON AMER HOMES TR 2017-SFR2 A 96,879 96,879
    VENTAS REALTY L.P./VENTAS CAPITAL CORP. 3.1000% DUE 01/15/2023 19,502 19,502
    VEREIT OPERATING PARTNERSHIP LP 3.9500% DUE 08/15/2027 32,492 32,492
    VERIZON COMMUNICATIONS INC. 3.3760% DUE 02/15/2025 66,958 66,958
    VERIZON OWNER TR 2018-1 A-1A 129,626 129,626
    VISA INC 3.1500% DUE 12/14/2025 78,615 78,615
    WELLS FARGO & COMPANY 2.6250% DUE 07/22/2022 96,426 96,426
    WESTERN GAS PARTNERS, L.P. 4.5000% DUE 03/01/2028 23,368 23,368
    WILLIAMS PARTNERS LP / WILLIAMS PARTNERS FINANCE CORPORATION 4.5000% DUE 11/ 221,159 221,159

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABS 363,675 363,675
    ACI WORLDWIDE INCORPORATED 120,641 120,641
    ADVANCED DISP SVCS INCORPORATED 127,361 127,361
    ALLSCRIPTS HEALTHCARE SOLUTNS 85,700 85,700
    ALPHABET INCORPORATED CAP STK CLASS A 260,195 260,195
    ALTRA INDL MOTION CORPORATION 87,271 87,271
    AMERICAN INTERNATIONAL GROUP INCORPORATED COM NEW 166,153 166,153
    AMN HEALTHCARE SERVICES INCORPORATED 116,153 116,153
    APPLE INCORPORATED 90,385 90,385
    AXALTA COATING SYSTEMS LIMITED 79,324 79,324
    BANCORPSOUTH BK TUPELO MISS 191,345 191,345
    BERKSHIRE HATHAWAY INCORPORATED DEL CLASS B NEW 260,125 260,125
    BLACKSTONE REAL ESTATE INCOME CL I 153,368 153,368
    BMC STK HLDGS INCORPORATED 70,898 70,898
    BORGWARNER INCORPORATED 131,630 131,630
    BRIGHTHOUSE FINL INCORPORATED 28,773 28,773
    BROOKS AUTOMATION INCORPORATED 132,471 132,471
    BRUNSWICK CORPORATION 92,900 92,900
    CALLON PETE COMPANY DEL 64,640 64,640
    CARTERS INCORPORATED 62,847 62,847
    CHARTER COMMUNICATIONS INCORPORATED NEW CLASS A 131,656 131,656
    CIMAREX ENERGY COMPANY 127,616 127,616
    CITIGROUP INCORPORATED COM NEW 318,607 318,607
    COMCAST CORPORATION NEW CLASS A 159,014 159,014
    CVB FINL CORPORATION 159,615 159,615
    CVS HEALTH CORPORATION 193,677 193,677
    DANA INCORPORATED 69,240 69,240
    DEVON ENERGY CORPORATION NEW 125,751 125,751
    DISCOVER FINL SVCS 239,459 239,459
    DISNEY WALT COMPANY COM DISNEY 135,089 135,089
    DOUBLELINE FLEXIBLE INCOME I 29,487 29,487
    DOUBLELINE SHILLER ENHANCED CAPE I 214,318 214,318
    DOUBLELINE STRATEGIC COMM I 75,343 75,343
    EASTMAN CHEMICAL COMPANY 63,533 63,533
    EATON VANCE FDS LOW DURATION GOVT INCOM 100,326 100,326
    EMCOR GROUP INCORPORATED 45,961 45,961
    ENTEGRIS INCORPORATED 51,327 51,327
    ESCO TECHNOLOGIES INCORPORATED 134,538 134,538
    FACEBOOK INCORPORATED CLASS A 137,120 137,120
    FCB FINL HLDGS INCORPORATED CLASS A 100,068 100,068
    FIDELITY HEALTH CARE PT 51,064 51,064
    FIRST REP BK SAN FRANCISCO CAL 103,846 103,846
    FORWARD AIR CORPORATION 72,402 72,402
    FULLER H B COMPANY 122,036 122,036
    FUNDVANTAGE TRUST POLEN GROWTH I 50,412 50,412
    GENERAL MTRS COMPANY 114,867 114,867
    GIBRALTAR INDUSTRIES INCORPORATED 86,484 86,484
    GILEAD SCIENCES INCORPORATED 58,860 58,860
    GLACIER BANCORP INCORPORATED NEW 167,989 167,989
    GLATFELTER 43,627 43,627
    GOLDMAN SACHS MIDDLE MARKET LENDING CORP 598,902 598,902
    GOODYEAR TIRE & RUBBER COMPANY 85,151 85,151
    HANESBRANDS INCORPORATED 58,753 58,753
    HARTFORD FINL SVCS GROUP INCORPORATED 117,793 117,793
    HONEYWELL INTERNATIONAL INCORPORATED 87,067 87,067
    HORACE MANN EDUCATORS CORPORATION NEW 99,992 99,992
    IBERIABANK CORPORATION 181,270 181,270
    ICU MED INCORPORATED 81,519 81,519
    INDEPENDENT BANK CORPORATION MASS 188,431 188,431
    INGEVITY CORPORATION 64,023 64,023
    INTEGER HLDGS CORPORATION 112,865 112,865
    INVESCO FTSE RAFI US 1000 ETF 16,982,951 16,982,951
    ISHARES CORE MSCI TOTAL ETF 157,590 157,590
    ISHARES CORE S&P TTL STK ETF 158,928 158,928
    ISHARES TR MSCI ACWI ETF 366,274 366,274
    ISHARES TR RUS 1000 GRW ETF 7,858,103 7,858,103
    ISHARES TRUST CORE DIV GRWTH ETF 155,946 155,946
    IVA INTERNATIONAL FUND CLASS I N/L 12,073,563 12,073,563
    J & J SNACK FOODS CORPORATION 112,780 112,780
    JANUS HENDERSON INTL OPPORTUNITIES FUND CLASS I N/L 11,415,802 11,415,802
    JP MORGAN SMALL CAP EQUITY I 68,913 68,913
    JPMORGAN CHASE & COMPANY 183,233 183,233
    KIMBERLY CLARK CORPORATION 128,980 128,980
    KNOLL INCORPORATED COM NEW 69,710 69,710
    LA Z BOY INCORPORATED 112,780 112,780
    LANCASTER COLONY CORPORATION 97,273 97,273
    LINDE PLC 125,877 125,877
    LITHIA MTRS INCORPORATED CLASS A 45,798 45,798
    LITTELFUSE INCORPORATED 54,874 54,874
    LOEWS CORPORATION 117,533 117,533
    MAGNOLIA OIL & GAS CORPORATION CLASS A 68,157 68,157
    MARSH & MCLENNAN COMPANIES INCORPORATED 113,086 113,086
    MATADOR RES COMPANY 94,422 94,422
    MATTHEWS FDS ASIA DIVIDEND INSTL 67,061 67,061
    MEDTRONIC PLC SHS 207,662 207,662
    METHODE ELECTRS INCORPORATED 74,761 74,761
    METLIFE INCORPORATED 227,801 227,801
    MGE ENERGY INCORPORATED 65,956 65,956
    MICROSOFT CORPORATION 194,506 194,506
    MINERALS TECHNOLOGIES INCORPORATED 91,385 91,385
    MKS INSTRUMENT INCORPORATED 58,149 58,149
    MORGAN STANLEY COM NEW 99,363 99,363
    MUELLER WTR PRODUCTS INCORPORATED COM SER A 81,718 81,718
    MURPHY USA INCORPORATED 71,275 71,275
    NATUS MEDICAL INCORPORATED DEL 105,493 105,493
    NOBLE ENERGY INCORPORATED 33,355 33,355
    NVR INCORPORATED 141,345 141,345
    OAKMARK FDS INTERNATIONAL FUND 165,195 165,195
    ONE GAS INCORPORATED 116,216 116,216
    OXFORD INDUSTRIES INCORPORATED 73,882 73,882
    PARKER HANNIFIN CORPORATION 138,849 138,849
    PEPSICO INCORPORATED 188,036 188,036
    PFIZER INCORPORATED 238,766 238,766
    PHILIP MORRIS INTERNATIONAL INCORPORATED 159,890 159,890
    PIMCO SHORT ASSET INVESTMENT FUND INSTITUTIONAL CLASS N/L 995,834 995,834
    PLEXUS CORPORATION 99,095 99,095
    PNC FINL SVCS GROUP INCORPORATED 110,480 110,480
    PORTLAND GENERAL ELEC COMPANY COM NEW 38,973 38,973
    PPL CAPITAL FUNDING INC. 46,866 46,866
    PRIMECAP ODYSSEY 100,054 100,054
    PROCTER AND GAMBLE COMPANY 196,801 196,801
    RIVERNORTH DOUBLE LINE STRAT INC I 58,768 58,768
    ROGERS CORPORATION 69,837 69,837
    SELECT ENERGY SVCS INCORPORATED CLASS A COM 33,433 33,433
    SELECTIVE INS GROUP INCORPORATED 163,929 163,929
    SEMTECH CORPORATION 109,629 109,629
    STANDEX INTERNATIONAL CORPORATION 63,149 63,149
    STONERIDGE INCORPORATED 59,407 59,407
    SYNNEX CORPORATION 129,344 129,344
    TEGNA INCORPORATED 32,045 32,045
    TEXAS INSTRS INCORPORATED 119,732 119,732
    THERMO FISHER SCIENTIFIC INCORPORATED 139,869 139,869
    TJX COMPANIES INCORPORATED NEW 216,542 216,542
    UNITED CONTL HLDGS INCORPORATED 115,464 115,464
    UNITED TECHNOLOGIES CORPORATION 205,187 205,187
    US ECOLOGY INCORPORATED 144,224 144,224
    V F CORPORATION 75,977 75,977
    VANGUARD INTERNATIONAL GROWTH ADMIRAL 166,477 166,477
    VERISK ANALYTICS INCORPORATED 55,392 55,392
    VISTEON CORPORATION COM NEW 29,537 29,537
    WOLVERINE WORLD WIDE INCORPORATED 138,722 138,722
    WORLDPAY INCORPORATED CLASS A 137,955 137,955

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    US Government Securities - End of Year Book Value:

    21,975,599
    US Government Securities - End of Year Fair Market Value:

    21,975,599
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ASPECT US INSTITUTIONAL FUND LTD FMV 1,992,805 1,992,805
    EASTGROUP PROPERTY INCORPORATED REIT FMV 78,888 78,888
    MARSHALL WACE EUREKA FUND PLC FMV 3,457,194 3,457,194
    P2 CAPITAL FUND, LTD - CLASS R (SPECIAL INV. OPTION) FMV 1,755,078 1,755,078
    P2 CAPITAL FUND, LTD (SPECIAL INVESTMENTS) FMV 193,384 193,384
    PEBBLEBROOK HOTEL TR REIT FMV 145,230 145,230
    PHYSICIANS RLTY TR REIT FMV 107,080 107,080
    QTS RLTY TR INCORPORATED COM CLASS A REIT FMV 135,974 135,974
    THIRD POINT OFFSHORE FUND LTD FMV 3,261,064 3,261,064
    YORK EUROPEAN OPPORTUNITIES UNIT FMV 2,257,831 2,257,831
    ARGENTINA (REPUBLIC OF) 6.8750% DUE 01/26/2027 FMV 64,103 64,103
    HUNGARY (REPUBLIC OF) 5.3750% DUE 03/25/2024 FMV 42,638 42,638
    HWY 49 - ST. STEPHENS CHURCH RD LLC AT COST 12,300 12,300
    KFBSF PRIVATE EQUITY FUND III, LP FMV 82,411 82,411
    LINCOLN COUNTY - ORCHARD ROAD LLC AT COST 8,004 8,004
    WSC SEARCH & ACQUIRE FUND FMV 176,913 176,913

    TY 2018 LandEtcSchedule2
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING 475,457 0 475,457 475,457
    BUILDING IMPROVEMENTS 4,085 0 4,085 4,085
    FURNITURE AND EQUIPMENT 4,590 0 4,590 4,590


    TY 2018 LegalFeesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GENERAL GOVERNANCE AND COUNSEL 22,803 5,701   20,473


    TY 2018 OtherDecreasesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Description Amount
    UNREALIZED DECLINE IN VALUE OF INVESTMENTS 12,990,179


    TY 2018 OtherExpensesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    DUES AND SUBSCRIPTIONS 10,406 0   10,406
    OTHER ADMINISTRATIVE EXPENSE 3,297 0   3,297
    OFFICE EXPENSES 1,310 0   1,310
    PASSTHROUGH K-1 EXPENSES 23,851 20,724   0
    PASSTHROUGH K-1 LOSSES 13,424 13,266   0
    ADVERTISING 15,050 0   15,050


    TY 2018 OtherIncomeSchedule2
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    751 GAIN ON SALE OF PTPS 513 0 513


    TY 2018 OtherIncreasesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Description Amount
    EXCISE TAX PAYABLE ADJUSTMENT 12,000


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 284,172 284,172   0
    PAYROLL PROCESSING FEES 2,780 0   2,780
    ADMINISTRATIVE FEES 41,000 30,750   10,250


    TY 2018 TaxesSchedule
    Name:
    THE DAVID BELK CANNON FOUNDATION
    EIN:
    27-0004751
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 82,000 0   0