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
2019
Open to Public Inspection
For calendar year 2019, or tax year beginning 12-01-2017 , and ending 11-30-2018
Name of foundation
PHYLLIS PERRY HULTON EDUCATIONAL TRUST
%JAMES BOWMAN
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 1635
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MARSHALLTOWN, IA50158
A Employer identification number

42-6526655
B Telephone number (see instructions)

(641) 691-0434
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$3,251,968J 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... 125,178 125,178  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 344,342
b Gross sales price for all assets on line 6a 377,186
7 Capital gain net income (from Part IV, line 2)... 344,342
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........ 469,520 469,520  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 2,325 0   0
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 2,965 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 391 0   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,681 0   0
25 Contributions, gifts, grants paid....... 149,460 149,460
26 Total expenses and disbursements. Add lines 24 and 25 155,141 0   149,460
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 314,379
b Net investment income (if negative, enter -0-) 469,520
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2019)
Form 990-PF (2019)
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............. 1,885 7,756 7,756
2 Savings and temporary cash investments......... 55,337 148,154 148,154
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 1,062,574 Click to see attachment1,029,730 2,238,558
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).......... 645,725 Click to see attachment894,260 857,500
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,765,521 2,079,900 3,251,968
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 1,765,521 2,079,900
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 1,765,521 2,079,900
30 Total liabilities and net assets/fund balances (see instructions). 1,765,521 2,079,900
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
1,765,521
2
Enter amount from Part I, line 27a .....................
2
314,379
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
2,079,900
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
2,079,900
Form 990-PF (2019)
Form 990-PF (2019)
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 450 SH MONSANTO P   2018-05-07
b 2510 SH MONSANTO P   2018-06-07
c
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 55,906   4,993 50,913
b 321,280   27,851 293,429
c
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       50,913
b       293,429
c
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 2 344,342
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))
2018 119,211 3,145,001 0.037905
2017 105,000 2,829,244 0.037112
2016 104,425 2,841,897 0.036745
2015 103,300 2,942,873 0.035102
2014 104,000 2,703,053 0.038475
2
Total of line 1, column (d) .....................
2
0.185339
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
0.037068
4
Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......
4
1,154,487
5
Multiply line 4 by line 3......................
5
42,795
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
4,695
7
Add lines 5 and 6........................
7
47,490
8
Enter qualifying distributions from Part XII, line 4,.............
8
149,460
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 (2019)
Form 990-PF (2019)
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 4,695
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 4,695
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 4,695
6 Credits/Payments:
a 2019 estimated tax payments and 2018 overpayment credited to 2019 6a 1,644
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,644
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 4
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 3,055
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 2020 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? ....................
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)
    bullet
    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 2019 or the taxable year beginning in 2019? 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 (2019)
    Form 990-PF (2019)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletJAMES R BOWMAN Telephone no.bullet (641) 691-0434

    Located atbullet24 E MAIN STREETMARSHALLTOWNIA ZIP+4bullet50158
    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 2019, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2019?.............
    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 2019, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2019?.............
    If "Yes," list the years bullet2016, 2015, 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
    Yes
     
    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 2019 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 2019.)..................
    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 2019?
    4b
     
    No
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    H VICTOR HELLBERG TRUSTEE
    0.00     		0 0 0
    204 N 18TH STREET
    MARSHALLTOWN,IA50158
    NAN BENSON TRUSTEE
    0.00     		0 0 0
    2325 JESSUP AVENUE
    STATE CENTER,IA50247
    JANEY SWARTZ TRUSTEE
    0.00     		0 0 0
    3304A MAIN ST RD
    MARSHALLTOWN,IA50158
    STEVE STORJOHANN TRUSTEE
    0.00     		0 0 0
    1209 GLENWOOD TERRACE
    MARSHALLTOWN,IA50158
    CATHY UNDERHILL TRUSTEE
    0.00     		0 0 0
    605 WILLOW LANE
    LEGRAND,IA50142
    ANN HEYING TRUSTEE
    0.00     		0 0 0
    610 WESTWOOD DR
    MARSHALLTOWN,IA50158
    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 (2019)
    Form 990-PF (2019)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 SCHOLARSHIP GRANTS - A MINIMUM OF 40 AWARDS GIVEN EACH YEAR. 149,460
    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 (2019)
    Form 990-PF (2019)
    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
    0
    b
    Average of monthly cash balances.......................
    1b
    0
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,172,068
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,172,068
    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
    1,172,068
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    17,581
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,154,487
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    57,724
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    57,724
    2a
    Tax on investment income for 2019 from Part VI, line 5......
    2a
    4,695
    b
    Income tax for 2019. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,695
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    53,029
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    53,029
    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
    53,029
    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
    149,460
    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
    149,460
    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
    4,695
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    144,765
    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 (2019)
    Form 990-PF (2019)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2018     		(c)
    2018     		(d)
    2019
    1 Distributable amount for 2019 from Part XI, line 7 53,029
    2 Undistributed income, if any, as of the end of 2019:
    a Enter amount for 2018 only....... 155,461
    b Total for prior years:2015, 20, 20 10,707
    3 Excess distributions carryover, if any, to 2019:
    a From 2014......  
    b From 2015......  
    c From 2016......  
    d From 2017......  
    e From 2018......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2019 from Part
    XII, line 4: bullet$ 149,460
    a Applied to 2018, but not more than line 2a 149,460
    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 2019 distributable amount..... 0
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2019. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		10,707
    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 ...........     		10,707
    e Undistributed income for 2018. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		6,001
    f Undistributed income for 2019. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2020 ..........     		53,029
    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 2014 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2020.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2015....  
    b Excess from 2016....  
    c Excess from 2017....  
    d Excess from 2018....  
    e Excess from 2019....  
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 2019, 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) 2019 (b) 2018 (c) 2017 (d) 2016
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    PHYLLIS PERRY HULTON TRUST ATTN PAT
    PO BOX 1635
    MARSHALLTOWN,IA50158
    (641) 485-3087
    bThe form in which applications should be submitted and information and materials they should include:
    NAME & SS # OF APPLICANT, HIGHSCHOOL GRADUATED FROM, COLLEGE OR TECH SCHOOL YOU PLAN TO ATTEND, HIGHSCHOOL TRANSCRIPTS AND FINANCIAL PLANS.
    cAny submission deadlines:
    APRIL 1ST OF SCHOOL YEAR COMMENCING IN SEPTEMBER. APPLICATIONS AVAILABLE IN JANUARY.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    Form 990-PF (2019)
    Form 990-PF (2019)
    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
    AARON HAUSER
    2303 S 8TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ABIGAIL ATCHER
    204 2ND AVE
    LAUREL,IA50141     		NONE I EDUCATIONAL 1,060
    ADRIENNE ELDER
    505 2ND ST NW
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ALEC BENBOW
    214 PARK AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ALEX DICKEY
    306 2ND AVE SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ALEXA KEIGAN
    201 2ND ST SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ALLISON HILLEMAN
    1505 200TH ST
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ALICIA VEGA
    306 INNES BLVD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    AMANDA SCHULER
    2039 DURHAM AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ALYSSA SIRCOREUS
    919 S 10TH AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ANDREW ASH
    2861 250TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    AMBER MARTENSON
    210 N MAIN ST
    GILMAN,IA50106     		NONE I EDUCATIONAL 1,060
    ANA GARCIA
    314 N 15TH AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ANTHONY SMITH
    1311 LARKFIELD CT
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ANNA HERNANDEZ
    505 EASTVIEW RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    AUSTIN CASE
    3310 LILY LANE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    BAILEY WILDT
    2403 FERBDALE
    AMES,IA50010     		NONE I EDUCATIONAL 1,060
    ASHLYN CRAVEN
    2425 EVERGREEN AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    AUSTIN CHAPLIN
    602 2ND AVE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    BEAU COBERLY
    1014 CHEROKEE ST
    NEVADA,IA50201     		NONE I EDUCATIONAL 1,060
    CARRIE SCHMIDT
    1509 SANFORD AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    CARRINGTON CURPHY
    201 N ELM ST
    GILMAN,IA50106     		NONE I EDUCATIONAL 1,060
    CASSIDY BLACKFORD
    1112 E OLIVE ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    CASSIE MAYER
    612 W BOONE ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    BLAKE LINSENMEYER
    2608 250TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    BRADEN BETHKE
    1322 GREENFIELD DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    COLTON HANKE
    2557 250TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    CORNELIA HAYES
    2225 160TH ST
    FORT DODGE,IA50501     		NONE I EDUCATIONAL 1,060
    COURTNEY SCHMIDT
    1509 SANFORD AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    BRAELYN LANDER
    1821 KNAPP AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    DANIELLE KELLOGG
    504 E DAWN ST
    LEGRAND,IA50142     		NONE I EDUCATIONAL 1,060
    DARLENE WALTEMEYER
    2439 BINFORD AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    BRAYDEN ARNOTE
    2256 SAND RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    DORIAN TWEDT
    3304 MAIN ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    BRENDA GARCIA MENDOZA
    2510 S 6TH ST B23
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ELIZABETH SIMPSON
    401 2ND ST NW
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    BRITTANY ANDERSON
    2465 JEFFERSON DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    EMILY VEST
    1222 MARSHALL DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    FRANK IOLE
    11 N 11TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    GABRIELLE GERKE
    213 7TH ST NE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    GEORGIA PORTER
    2068 310TH ST
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    GRACE BANDSTRA
    2785 270TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    GRACE DOUGHERTY
    8567 N 115TH AVE E
    LAUREL,IA50141     		NONE I EDUCATIONAL 1,060
    HALEY FYE
    4224 175TH ST
    BROOKLYN,IA52211     		NONE I EDUCATIONAL 1,060
    HALEY STORY
    4701 60TH ST
    GRINNELL,IA50112     		NONE I EDUCATIONAL 1,060
    HANNAH STONE
    308 HARRISON DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    HOLLY ROSELAND
    3364 250TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    CAYLA SINCOX
    2711 PICKERING DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    CIARA FELDMAN
    2325 STRATFORD LANE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 530
    DILLON BLACK
    207 N 4TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ELLEN HUNGERFORD
    2680 RIDGE RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    EMMA DENEUI
    410 3RD AVE SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    EMMA MEYER
    306 LINCOLN VALLEY DR
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JENNIFER DIAZ
    610 E ANSON
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JENNIFER MAYER
    706 MAIN ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    EMMA PIENE
    403 LINCOLN VALLEY DR
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    EMMA RYERSON
    1501 GREENFIELD DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    EMMIE JONES
    502 4TH AVE NE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ERIN DUFFY
    212 S 11 ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ISABEL PAREDES
    307 N 4TH AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JUAN ANDRADE
    5 N 19TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    ISABELLA ANDERSON
    403 6TH ST SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JACI HARDMAN
    904 W SOUTHRIDGE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JACKIE TAFT
    2439 BINFORD AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JACOB DIXON
    1939 COLLEGE ST
    CEDAR FALLS,IA50613     		NONE I EDUCATIONAL 1,060
    KARA DEVENNEY
    912 NW 21ST
    ANKENY,IA50023     		NONE I EDUCATIONAL 1,060
    JAMES DRUMMER
    507 GREENBRIAR LN
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    KASSANDRA KERN
    PO BOX 143
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    KAYDEE SILVA
    109 N 2ND AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JENNA KIFER
    107 5TH AVE SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JERILYN CABRERA
    1319 E NEVADA ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    KELLI MATNEY
    7 N 20TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JILL PODHAJSKY
    709 W LINN ST
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JILLIAN HICKS
    2108 VERMILLION LN
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JOHN HOHNSTEIN
    2170 CANFIELD AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JOSH ARMENT
    1010 S 2ND ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MADELYN VAWTER
    PO BOX 161
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    JOSHUA FULLER
    217 COLLEGE DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JOSHUA MELDE
    1602 NEW HAVEN RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JOSIE GERKE
    1247 DURHAM AVE
    ST ANTHONY,IA50239     		NONE I EDUCATIONAL 1,060
    MALORY HENZE
    1564 MEYER AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    JULIA HARRINGS
    1166 160TH ST
    ST ANTHONY,IA50239     		NONE I EDUCATIONAL 1,060
    KAITLYN SUNKLE
    2092 S LAKESHORE DR
    BROOKLYN,IA52211     		NONE I EDUCATIONAL 1,060
    MARY MARGARETTE DRUMMER
    507 GREENBRIER LN
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    KARLYN WALTON
    508 3RD AVE SW
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    MCKAYLEE PALMER
    104 COLLEGE VIEW LN
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    KODY RICKEN
    901 E OLIVE ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MEGAN EMERSON
    206 THUNDERBIRD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MEGAN MCCRARY
    3674 HWY T47
    MONTOUR,IA50173     		NONE I EDUCATIONAL 1,060
    KRISTIAN CARBAJAL
    2416 EVERGREEN
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    MEGAN MESSINA
    72779 210TH ST
    COLO,IA50056     		NONE I EDUCATIONAL 1,060
    MEGAN TRUE
    403 2ND ST SW
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    LAUREN BATTERSON
    3207 LILY LANE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MICHAH DANIEL
    2205 BITTERSWEET
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    LIBBY LONEY
    2615 SMITH AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MORGAN VAN STAALDUINE
    1619 LAFAYETTE
    ALBION,IA50005     		NONE I EDUCATIONAL 1,060
    LUCAS DUFF
    1993 235TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    NATE DEBONDT
    206 E JULIAN ST
    LEGRAND,IA50142     		NONE I EDUCATIONAL 1,060
    NICOLE RIEMENSCHNEIDER
    404 3RD AVE SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    LUKE PEDERSON
    106 N 12TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MAGGIE GUNDERSON
    107 3RD AVE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    MAKENZIE GRIMM
    213 HUISMAN CIRCLE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MIRIAH BOCKES
    2509 RAYCLIF DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MATTHEW BOHAN
    2006 GETHMANN DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    REGAN BENBOW
    214 PARK AVE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    MCKAYLIE COLEMAN
    1515 W MAIN
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    RILEY SCHLICHTE
    506 BUTLER AVE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    MCKENZIE HINEGARDNER
    2963 HWY T-47
    MONTOUR,IA50173     		NONE I EDUCATIONALEDUCATIONAL 1,060
    MERILAND DELEON MITCHELL
    410 E BOONE ST 4
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MICHAEL DOE
    807 RAIL RIDGE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    SHANNON BREJA
    1951 HART AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    SHAY SLIFKA
    2828 COOPER AVE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    MOLLY BACH
    502 CRAIG CIRCLE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    MORGAN SCHUH
    3220 GERHART AVE
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    SYDNEY GREWELL
    2331 OAK PARK RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    NATHAN VANCE
    2213 MARSHALLTOWN BLVD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    SYDNEY MANN
    4051/2 N 3RD AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    TABITHA STEFFENSEN
    3644 HIGHWAY T-47
    MONTOUR,IA50173     		NONE I EDUCATIONAL 1,060
    TREVOR LEWIS
    1115 S 1ST ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    WHITNEY CANADAY
    207 WAUCONDA RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    NICHOLAS MELING
    503 WILLOW LANE
    LEGRAND,IA50142     		NONE I EDUCATIONAL 1,060
    NOAH DEVENNEY
    912 NW 21ST
    ANKENY,IA50023     		NONE I EDUCATIONAL 1,060
    OLIVIA HANNAM
    2320 STARTFORD LANE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    OLIVIA RYAN
    217 PINE ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    OLIVIA SPEAR
    701 JOAN TERRACE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    PARKER HULBERT
    1309 295TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    RACHEL WHALEY
    1905 CAMPBELL DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    RYAN BOHAN
    2006 GETHMANN DR
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    RYLEIGH THOMPSON
    2846 GREENCASTLE RD
    GILMAN,IA50106     		NONE I EDUCATIONAL 1,060
    SAMANTHA LAMMERT
    1511 W STATE ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    SARAH JACOBS
    2460 B REED AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    SETH KILBORN
    409 BRYAN AVE
    ROLAND,IA50236     		NONE I EDUCATIONAL 1,060
    SPENCER FINCH
    908 FREMONT ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    SYDNIE WOHLERT
    204 N 10TH ST
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    TAYIAH SIEGERT
    220 COLLEGE DR
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,060
    TAYLOR BROWN
    508 2ND AVE
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    TYLER DEBONDT
    206 E JULIAN ST
    LEGRAND,IA50142     		NONE I EDUCATIONAL 1,060
    WYATT EDLER
    1554 220TH ST
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ZACHARY TICHY
    510 3RD ST SE
    STATE CENTER,IA50247     		NONE I EDUCATIONAL 1,060
    ZANE JOHNSON
    PO BOX 157
    LEGRAND,IA50142     		NONE I EDUCATIONAL 1,060
    COLE BACCAM
    1219 ROLLING MEADOWS RD
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 530
    TATUM YOUNKIN
    1004 W NEVADA
    MARSHALLTOWN,IA50158     		NONE I EDUCATIONAL 1,060
    COLE NEEDHAM
    605 NEEDHAM DR
    MELBOURNE,IA50162     		NONE I EDUCATIONAL 1,000
    JOSH MORROW
    2005 190TH ST
    MARSHALLTOWN,IA50158     		NONE I PRIOR YEAR SCHOLARSHIP RETURNED -1,000
    Total .................................bullet 3a 149,460
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2019)
    Form 990-PF (2019)
    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....     14 125,178  
    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 ............     		        344,342
    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).. 0 125,178 344,342
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    469,520
    (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.)
    4 TO PROVIDE EDUCATIONAL SCHOLARSHIPS TO LOCAL AREA STUDENTS.
    8 TO PROVIDE EDUCATIONAL SCHOLARSHIPS TO LOCAL AREA STUDENTS.
    Form 990-PF (2019)
    Form 990-PF (2019)
    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 (2019)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2017 AccountingFeesSchedule
    Name:
    PHYLLIS PERRY HULTON EDUCATIONAL TRUST
     
    %JAMES BOWMAN
    EIN:
    42-6526655
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 2,325 0   0

    TY 2017 InvestmentsCorpStockSchedule
    Name:
    PHYLLIS PERRY HULTON EDUCATIONAL TRUST
     
    %JAMES BOWMAN
    EIN:
    42-6526655
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SAGEPOINT 1,029,730 2,238,558

    TY 2017 InvestmentsOtherSchedule2
    Name:
    PHYLLIS PERRY HULTON EDUCATIONAL TRUST
     
    %JAMES BOWMAN
    EIN:
    42-6526655
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SAGEPOINT AT COST 894,260 857,500

    TY 2017 OtherExpensesSchedule
    Name:
    PHYLLIS PERRY HULTON EDUCATIONAL TRUST
     
    %JAMES BOWMAN
    EIN:
    42-6526655
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE EXPENSE 351 0   0
    COURT FEES 40 0   0


    TY 2017 TaxesSchedule
    Name:
    PHYLLIS PERRY HULTON EDUCATIONAL TRUST
     
    %JAMES BOWMAN
    EIN:
    42-6526655
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PRIVATE FOUNDATION TAX EXPENSE 2,965 0   0