Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
Ayers Foundation
 
% THE ORGANIZATION
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 756
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Parsons, TN38363
A Employer identification number

62-1773033
B Telephone number (see instructions)

(731) 847-4962
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$7,243,050J 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) 774,638
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,644 1,662 1,662
4 Dividends and interest from securities... 242,473 242,473 242,473
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,404,759
b Gross sales price for all assets on line 6a 16,164,220
7 Capital gain net income (from Part IV, line 2)... 2,404,759
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........ 3,423,514 2,648,894 244,135
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages...... 1,075,655     1,075,655
15 Pension plans, employee benefits....... 72,495     72,495
16a Legal fees (attach schedule)......... Click to see attachment 104,248 0 0 0
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 61,653 5,972 5,972  
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 32,227      
19 Depreciation (attach schedule) and depletion... Click to see attachment 316    
20 Occupancy.............. 8,821      
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 184,852 8,340 8,340 168,691
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,540,267 14,312 14,312 1,316,841
25 Contributions, gifts, grants paid....... 4,232,604 4,232,604
26 Total expenses and disbursements. Add lines 24 and 25 5,772,871 14,312 14,312 5,549,445
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -2,349,357
b Net investment income (if negative, enter -0-) 2,634,582
c Adjusted net income (if negative, enter -0-)... 229,823
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......... 346,452 1,043,170 1,043,170
3 Accounts receivable bullet161
Less: allowance for doubtful accounts bullet   572 161 161
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable................. 0 229,052 229,052
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).......      
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).......... 11,254,161 Click to see attachment5,687,193 5,687,193
14 Land, buildings, and equipment: basis bullet290,975
Less: accumulated depreciation (attach schedule) bullet7,501 2,148 283,474 283,474
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 11,603,333 7,243,050 7,243,050
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 0 229,052
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 229,052
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 11,603,333 7,013,998
30 Total net assets or fund balances (see instructions)..... 11,603,333 7,013,998
31 Total liabilities and net assets/fund balances (see instructions). 11,603,333 7,243,050
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
11,603,333
2
Enter amount from Part I, line 27a .....................
2
-2,349,357
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
9,253,976
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
2,239,978
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
7,013,998
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 CHARLES SCHWAB 3567 - L/T D   2018-12-31
b INTEROCEAN 0112 - S/T D   2018-12-31
c INTEROCEAN 0112 - L/T D   2018-12-31
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 230   184 46
b 4,743,080   4,745,279 -2,199
c 11,420,910   9,013,998 2,406,912
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       46
b       -2,199
c       2,406,912
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 2,404,759
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 3,372,617 13,951,814 0.241733
2016 2,073,532 10,202,453 0.203239
2015 510,310 9,230,319 0.055286
2014 472,180 3,974,981 0.118788
2013 2,089,735 339,997 6.146334
2
Total of line 1, column (d) .....................
2
6.76538
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
1.353076
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
11,158,683
5
Multiply line 4 by line 3......................
5
15,098,546
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
26,346
7
Add lines 5 and 6........................
7
15,124,892
8
Enter qualifying distributions from Part XII, line 4,.............
8
5,549,445
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 52,692
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 52,692
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 52,692
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 29,371
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 29,371
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 23,321
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see list of attachments....................
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 changesClick to see list of attachments....
3
Yes
 
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.Click to see list of attachments
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
     
    No
    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)
    bulletMO, TN
    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
    Yes
     
    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 addressbullettheayersfoundation.org
    14
    The books are in care ofbulletTHE ORGANIZATION Telephone no.bullet (731) 847-4962

    Located atbulletPO BOX 756PARSONSTN ZIP+4bullet38363
    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
     
    No
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    JAMES W AYERS CHAIRMAN
    5.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    JON AYERS DIRECTOR
    3.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    AGENIA CLARK SECRETARY
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    JANET AYERS PRESIDENT
    15.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    JOANN LYNN DIRECTOR
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    KRISTY AYERS DIRECTOR
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    LIN HOWARD ANDREWS DIRECTOR
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    LEE ANN INGRAM DIRECTOR
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    CASSIE LYNN FOOTE DIRECTOR
    1.0     		0 0 0
    PO Box 756
    PO Box 217
    Parsons,TN38363
    DR MICHAEL PRICE VICE PRESIDENT
    5.0     		0 0 0
    450 Tennessee Ave Suite 101
    PO Box 217
    Parsons,TN38363
    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
    SUSAN JOHNSON RHODES DIRECTOR
    44.0     		132,997    
    PO BOX 816
    LINDEN,TN37096
    MICHAEL B MEADOWS DIRECTOR
    41.0     		80,112    
    PO BOX 104
    LINDEN,TN37096
    BELINDA H REED DIRECTOR
    45.0     		77,928    
    610 SHADY ACRES LANE
    LEXINGTON,TN38351
    MARY LAUREN GARNER COUNSELOR/DIRECTOR
    43.0     		59,632    
    313 MICHAEL DRIVE
    WAYNESBORO,TN38485
    ANGELA JEAN LILLIE MARSHALL COUNSELOR
    43.0     		58,058    
    44 BLACKBERRY LANE
    PARSONS,TN38363
    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
    AYERS ASSET MANAGEMENT MANAGEMENT 53,133
    450 TENNESSEE AVE S
    PARSONS,TN38363
    HOLTON & MAYBERRY PC LEGAL 53,518
    3801 BEDFORD AVENUE SUITE 200
    NASHVILLE,TN37215
    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 EXPENSES INCURRED TO HOST A FUNDRAISING EVENT FOR THE AMERICAN HEART SOCIETY. 3,052
    2 AYERS FOUNDATION SCHOLAR PROGRAM 1,313,789
    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
    10,885,559
    b
    Average of monthly cash balances.......................
    1b
    443,053
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    11,328,612
    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
    0
    3
    Subtract line 2 from line 1d.........................
    3
    11,328,612
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    169,929
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    11,158,683
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    557,934
    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
    557,934
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    52,692
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    52,692
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    505,242
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    505,242
    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
    505,242
    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
    5,549,445
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    5,549,445
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    5,549,445
    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 7 505,242
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:2016, 2015, 2014 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 2,105,235
    b From 2014...... 291,993
    c From 2015...... 197,825
    d From 2016...... 1,592,836
    e From 2017...... 2,747,778
    fTotal of lines 3a through e........ 6,935,667
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 5,549,445
    a Applied to 2017, but not more than line 2a 0
    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..... 505,242
    e Remaining amount distributed out of corpus 5,044,203
    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 11,979,870
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		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) ...     		2,105,235
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		9,874,635
    10 Analysis of line 9:
    a Excess from 2014.... 291,993
    b Excess from 2015.... 197,825
    c Excess from 2016.... 1,592,836
    d Excess from 2017.... 2,747,778
    e Excess from 2018.... 5,044,203
    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).)
    JAMES W AYERS
    JON AYERS
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    JANET AYERS
    450 TENNESSEE AVE SUITE 101
    PARSONS,TN38363
    (731) 847-4962
    bThe form in which applications should be submitted and information and materials they should include:
    NO SPECIFIC FORM IS REQUIRED.
    cAny submission deadlines:
    APPLICATIONS ARE ACCEPTED AT ANY TIME.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    DONATIONS ARE PRIMARILY, BUT NOT EXCLUSIVELY LIMITED TO ORGANIZATIONS LOCATED IN DAVIDSON, DECATUR, HENDERSON, LAWRENCE, PERRY, AND UNICOI COUNTIES IN THE STATE OF TENNESSEE.
    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
    BOY SCOUTS OF AMERICA
    1995 Hollywood Drive
    Jackson,TN38305     		NONE PC GENERAL/OPERATING 12,000
    DECATUR COUNTY SHEPARD FUND
    PO Box 262 300 Kentucky Avenue So
    Parsons,TN38363     		NONE PC GENERAL/OPERATING 4,000
    FIRST BAPTIST CHURCH
    PO BOX 67
    Parsons,TN38363     		NONE PC GENERAL/OPERATING 25,000
    UNIVERSITY OF TENNESSEE AT MARTIN - PARSONS
    116 Administration Building
    Martin,TN38238     		NONE PC GENERAL/OPERATING 8,933
    JONESBOROUGH UNITED METHODIST CHURCH
    PO Box 115
    Jonesborough,TN37659     		NONE PC GENERAL/OPERATING 25,000
    AMERICAN HEART ASSOCIATION
    1818 Patterson Street
    Nashville,TN37203     		NONE PC GENERAL/OPERATING 55,000
    HOMEWORK HOTLINE
    4805 Park Avenue
    Nashville,TN37209     		NONE PC GENERAL/OPERATING 1,000
    KIWANIS CLUB OF ERWIN-CHILDREN CHRISTMAS SHOPPING
    PO Box 207
    Erwin,TN37650     		NONE PC CHARITABLE PURPOSES 1,000
    UNITED WAY OF WEST TENNESSEE
    1341 N Highland Avenue PO Box 20
    Jackson,TN383022086     		NONE PC GENERAL/OPERATING 5,000
    SECOND HARVEST FOOD
    331 Great Circle Road
    Nashville,TN37228     		NONE PC GENERAL/OPERATING 32,791
    BELMONT UNIVERSITY
    1900 Belmont Blvd
    Nashville,TN372123757     		NONE PC SCHOLARSHIPS 1,500,000
    UNIVERSITY OF MEMPHIS FOUNDATION
    705 LAMBUTH BLVD
    JACKSON,TN38301     		NONE PC GENERAL/OPERATING 200,000
    UNICOI COUNTY UNITED WAY
    PO Box 343
    Erwin,TN37650     		NONE PC GENERAL/OPERATING 20,000
    CHEEKWOOD
    PO BOX 50438
    Nashville,TN37205     		NONE PC GENERAL/OPERATING 10,000
    TENNESSEE CHILDREN'S HOME DONATION
    1310 FRANKLIN ROAD
    BRENTWOOD,TN37027     		NONE PC GENERAL/OPERATING 500
    WEST TN HEALTHCARE
    620 Skyline Drive
    Jackson,TN38301     		NONE PC GENERAL/OPERATING 1,403,600
    CENTERSTONE FOUNDATION
    1101 SIXTH AVENUE NORTH
    NASHVILLE,TN37208     		NONE PC GENERAL/OPERATING 22,500
    HEALING ARTS PROJECT INC - PHOENIX ART GALLERY
    PO BOX 23584
    NASHVILLE,TN37202     		NONE PC GENERAL/OPERATING 1,200
    AMERICAN FRIENDS OF D'ORSAY
    1345 AVENUE OF THE AMERICAS 31ST F
    NEW YORK,NY10105     		NONE PC GENERAL/OPERATING 10,000
    NASHVILLE SYMPHONY
    1 SYMPHONY PLACE
    NASHVILLE,TN37201     		NONE PC GENERAL/OPERATING 5,000
    UNION UNIVERSITY
    1050 Union University Drive
    JACKSON,TN383053697     		NONE PC GENERAL/OPERATING 10,000
    COMMUNITY FOUNDATION OF MIDDLE TENNESSEE
    383 CLEGHORN AVE STE 400
    NASHVILLE,TN37215     		NONE PC FIELD OF INTEREST - SCHOLARSHIPS 754,330
    COMMUNITY FOUNDATION OF MEMPHIS
    1900 UNION AVE
    MEMPHIS,TN38104     		NONE PC GENERAL/OPERATING 25,000
    LIPSCOMB UNIVERSITY
    1 UNIVERSITY PARK DRIVE
    NASHVILLE,TN37204     		NONE PC GENERAL/OPERATING 5,000
    BEGIN ANEW
    420 MAIN STREET
    NASHVILLE,TN37206     		NONE PC GENERAL/OPERATING 2,500
    THE CONSERVANCY GALA - CENTENNIAL PARK
    PO BOX 196340
    NASHVILLE,TN37219     		NONE   GENERAL/OPERATING 2,500
    FIFTY FORWARD
    174 RAINS AVENUE
    NASHVILLE,TN37203     		NONE PC GENERAL/OPERATING 12,500
    UNICOI COUNTY FAMILY YMCA
    601 LOVE STREET
    ERWIN,TN37650     		NONE PC GENERAL/OPERATING 10,000
    UNICOI CHAMBER OF COMMERCE - ANGEL TREE
    100 MAIN STREET SUITE 100
    ERWIN,TN37650     		NONE PC GENERAL/OPERATING 1,000
    FRIST ART MUSEUM
    919 BROADWAY
    NASHVILLE,TN37203     		NONE PC GENERAL/OPERATING 15,500
    ANGEL EMMS INC
    646 W MAIN STREET
    PARSONS,TN38363     		NONE PC GENERAL/OPERATING 1,000
    FAIRFIELD CHRIST CHURCH
    3521 FAIRFIELD PIKE
    BELL BUCKLE,TN37020     		NONE PC TOM WALKER MEMORIAL SCHOLARSHIP FUND 250
    DOOR OF HOPE
    245 N BELLEVUE BLVD
    MEMPHIS,TN38105     		NONE PC GENERAL/OPERATING 2,500
    AMERICAN CANCER SOCIETY
    2000 CHARLOTTE AVENUE
    NASHVILLE,TN37203     		NONE PC GENERAL/OPERATING 5,000
    THE JOSHUA CHAMBERLAIN SOCIETY
    101 CREEKSIDE CROSSING
    BRENTWOOD,TN37027     		NONE PC GENERAL/OPERATING 5,000
    FAMILY & CHILDREN'S SERVICE
    1704 HEIMAN STREET
    NASHVILLE,TN37208     		NONE PC GENERAL/OPERATING 10,000
    HOPE FOR JUSTICE
    PO BOX 280365
    NASHVILLE,TN37228     		NONE PC GENERAL/OPERATING 3,000
    MCKENDREE UNITED METHODIST CHURCH
    523 CHURCH STREET
    NASHVILLE,TN37219     		NONE   GENERAL/OPERATING 10,000
    NEW BEGINNINGS
    509 CRAIGHEAD SUITE 100
    NASHVILLE,TN37204     		NONE PC GENERAL/OPERATING 5,000
    ST AGNES ACADEMYST DOMINIC SCHOOL
    4830 WALNUT GROVE ROAD
    MEMPHIS,TN38117     		NONE PC GENERAL/OPERATING 10,000
    Total .................................bullet 3a 4,232,604
    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 1,644  
    4 Dividends and interest from securities....     14 242,473  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,404,759  
    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)..   2,648,876  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,648,876
    (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
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    Ayers Foundation
     
    Employer identification number

    62-1773033
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    Ayers Foundation
          		Employer identification number
    62-1773033
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    JAMES W AYERS  
    450 TENNESSEE AVE SUITE 101
     
    PARSONS, TN38363

    		$ 231,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    HENDERSON COUNTY FINANCE OFFICE  
    PO BOX 495
     
    LEXINGTON, TN38351

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    ROOTED ALLIANCE INC  
    401 NORTH MICHIGAN AVENUE SUITE 31
     
    CHICAGO, IL60611

    		$ 400,638


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    TENNESSEE HIGHER EDUCATION COMMISSI  
    404 JAMES ROBERTSON PARKWAY SUITE
     
    NASHVILLE, TN37243

    		$ 81,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    JOANN LYNN  
    450 TENNESSEE AVE SUITE 101
     
    PARSONS, TN38363

    		$ 26,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    LAFON CARTER  
    450 TENNESSEE AVE SUITE 101
     
    PARSONS, TN38363

    		$ 26,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    Ayers Foundation
          		Employer identification number

    62-1773033
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE - 1/3 INT 643 TENNESSEE AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 001.00 $ 26,000 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    5
    		 REAL ESTATE - 1/3 INT 643 TENNESSEE AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 001.00 $ 26,000 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    6
    		 REAL ESTATE - 1/3 INT 643 TENNESSEE AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 001.00 $ 26,000 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE 656 TENNESSEE AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 002.00 $ 94,000 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE 572 KENTUCKY AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 003.00 $ 47,000 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE 586 KENTUCKY AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 003.01 $ 51,000 2018-10-23
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Name of organization
    Ayers Foundation
          		Employer identification number

    62-1773033
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE KENTUCKY AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 003.02 $ 6,500 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 REAL ESTATE KENTUCKY AVENUE SOUTH PARSONS, TN 38363 MAP 052E, GROUP C, PARCEL 003.03 $ 6,500 2018-10-23
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    Ayers Foundation
          		Employer identification number

    62-1773033
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AllOthProgRltdInvestmentsSch
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Category Amount
    NONE  

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

    TY 2018 DepreciationSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2018 GeneralExplanationAttachment
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Identifier Return Reference Explanation
    CONDUIT PRIVATE FOUNDATION TREAS. REG. 1.170A-9(g) THE ABOVE MENTIONED PRIVATE NONOPERATING FOUNDATION IS ELECTING PURSUANT TO TREAS. REG. 1.170A-9(g) TO BE TREATED AS A CONDUIT PRIVATE FOUNDATION. THE FOUNDATION HAS DISTRIBUTED OUT 100% OF THE CONTRIBUTIONS RECEIVED. CONTRIBUTIONS RECEIVED 774,638 QUALIFYING DISTRIBUTIONS 5,549,445

    TY 2018 InvestmentsOtherSchedule2
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    CHARLES SCHWAB EQUITIES AT COST 5,687,193 5,687,193

    TY 2018 LegalFeesSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 104,248      


    TY 2018 OtherDecreasesSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Description Amount
    CHANGE IN UNREALIZED GAIN/LOSS 2,239,978


    TY 2018 OtherExpensesSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TELEPHONE 13,001     13,001
    INSURANCE 39,241     39,241
    TRAINING 1,890     1,890
    LICENSES 680      
    CHARITABLE PROGRAMS 3,052     3,052
    WEBSITE DESIGN 715      
    POSTAGE & DELIVERY 1,205     1,205
    BANQUET EXPENSES 26,203     26,203
    OFFICE SUPPLIES 17,471     17,471
    TRANSCRIPT FEES 39     39
    MARKETING & PUBLIC RELATIONS 14,347     14,347
    COLLEGE FAIRS 8,026     8,026
    DUES & SUBSCRIPTIONS 3,235      
    TN STATE FILING FEES 65      
    INVESTMENT FEES 8,340 8,340 8,340  
    BANK FEES 70      
    COMPUTERS 8,918     8,918
    MISCELLANEOUS 1,795      
    REPAIRS & MAINTENANCE 1,261      
    SCHOOL VISIT TRAVEL 35,298     35,298


    TY 2018 OtherIncomeSchedule2
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    FEDERAL INCOME TAX REFUND      


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 53,133 5,972 5,972  
    CONSULTING FEES 8,520      


    TY 2018 TaxesSchedule
    Name:
    Ayers Foundation
    EIN:
    62-1773033
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL TAXES 32,227