Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
THE MORGAN E CLINE PERPETUAL
CHARITABLE FOUNDATION
Number and street (or P.O. box number if mail is not delivered to street address)217 N 13TH ST
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CENTERVILLE, IA52544
A Employer identification number

47-7016421
B Telephone number (see instructions)

(641) 437-1068
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$13,391,191J 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) 108,657
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 297,425 297,425  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 476,424
b Gross sales price for all assets on line 6a 6,416,780
7 Capital gain net income (from Part IV, line 2)... 476,424
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 717,298
b Less: Cost of goods sold.... 402,790
c Gross profit or (loss) (attach schedule)..... 314,508 314,508
11 Other income (attach schedule)....... Click to see attachment 531,771 0 531,771
12 Total. Add lines 1 through 11........ 1,728,785 773,849 846,279
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 133,738 14,874 0 116,711
14 Other employee salaries and wages...... 549,950 0 549,950 0
15 Pension plans, employee benefits....... 22,303 350 10,540 10,847
16a Legal fees (attach schedule)......... Click to see attachment 8,371 0 0 8,496
b Accounting fees (attach schedule)....... Click to see attachment 92,010 0 0 98,076
c Other professional fees (attach schedule).... Click to see attachment 87,881 52,115 181 41,971
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 103,482 0 52,036 17,990
19 Depreciation (attach schedule) and depletion... 76,645 0 76,645
20 Occupancy.............. 120,730 0 93,020 45,264
21 Travel, conferences, and meetings....... 2,094 0 0 2,094
22 Printing and publications.......... 1,701 0 0 1,701
23 Other expenses (attach schedule)....... Click to see attachment 304,746 0 63,907 316,041
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,503,651 67,339 846,279 659,191
25 Contributions, gifts, grants paid....... 89,300 89,300
26 Total expenses and disbursements. Add lines 24 and 25 1,592,951 67,339 846,279 748,491
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 135,834
b Net investment income (if negative, enter -0-) 706,510
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 653,887 315,871 315,871
2 Savings and temporary cash investments......... 191,998 219,001 219,001
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet   1,397    
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable................. 5,000    
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.............. 139,968 126,788 126,788
9 Prepaid expenses and deferred charges.......... 12,701 5,811 5,811
10a Investments—U.S. and state government obligations (attach schedule) 1,054,851 Click to see attachment1,083,918 1,083,918
b Investments—corporate stock (attach schedule)....... 7,218,073 Click to see attachment6,360,789 6,360,789
c Investments—corporate bonds (attach schedule)....... 3,597,150 Click to see attachment3,138,114 3,138,114
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet2,272,636
Less: accumulated depreciation (attach schedule) bullet131,737 1,627,676 Click to see attachment2,140,899 2,140,899
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 14,502,701 13,391,191 13,391,191
Liabilities 17 Accounts payable and accrued expenses.......... 165,776 143,234
18 Grants payable.................    
19 Deferred revenue................. 9,601 6,811
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment8,025 Click to see attachment6,610
23 Total liabilities (add lines 17 through 22)......... 183,402 156,655
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.................. 14,319,299 13,234,536
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds    
30 Total net assets or fund balances (see instructions)..... 14,319,299 13,234,536
31 Total liabilities and net assets/fund balances (see instructions). 14,502,701 13,391,191
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
14,319,299
2
Enter amount from Part I, line 27a .....................
2
135,834
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
14,455,133
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
1,220,597
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
13,234,536
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES      
b
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 6,416,780   5,940,356 476,424
b
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       476,424
b
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 2 476,424
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 533,492 11,315,229 0.047148
2016 588,219 5,412,550 0.108677
2015 4,385 2,086,340 0.002102
2014      
2013      
2
Total of line 1, column (d) .....................
2
0.157927
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
0.052642
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
11,828,018
5
Multiply line 4 by line 3......................
5
622,651
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
7,065
7
Add lines 5 and 6........................
7
629,716
8
Enter qualifying distributions from Part XII, line 4,.............
8
748,491
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 7,065
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 7,065
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 7,065
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 9,478
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 9,478
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 2,413
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet2,413 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletIA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletALISON FRASER Telephone no.bullet (641) 437-1068

    Located atbullet217 N 13TH STCENTERVILLEIA ZIP+4bullet52544
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ALISON FRASER CEO
    41.15     		98,738 3,489 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    ANN YOUNG CHAIRPERSON
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    FRANK REZNICEK VICE-CHAIR
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    CONNIE STATER SECRETARY
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    THE IOWA TRUST AND SAVINGS BANK CORPORATE TRUSTEE/TREASURER
    2.00     		5,000 0 0
    200 N 10TH ST
    CENTERVILLE,IA52544
    MICHAEL CRAVER ESQ TRUSTEE
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    VANESSA FRASER TRUSTEE
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    JAMES MILANI ESQ TRUSTEE
    2.00     		5,000 0 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    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
    TENA STANSBERRY MANAGER - TCH
    41.15     		55,931 5,691 0
    217 N 13TH ST
    CENTERVILLE,IA52544
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    CHRISNER CONTRACTING GENERAL CONTRACTOR (LABOR & SUPPLIES) 540,095
    17587 HIGHWAY 34
    OTTUMWA,IA52501
    COMMERCIAL RESOURCES INC HUMAN RESOURCES AND ACCOUNTING SERVICES 85,612
    115 EAST VAN BUREN
    CENTERVILLE,IA52544
    BANKERS TRUST INVESTMENT SERVICES 52,079
    453 7TH STREET
    DES MOINES,IA50309
    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 FOSTERING VIABLE AND THRIVING COMMUNITIES IN AND AROUND APPANOOSE COUNTY, IOWA BY COLLABORATING TO PROVIDE RESOURCES AND PROFESSIONAL SUPPORT. OPERATIONS IN 2018 INCLUDED, THE CONTINENTAL HOTEL, THE MAJESTIC THEATER, THE SHOPPES AT BRADLEY HALL AND MORGAN'S ICE CREAM PARLOR; ALL OF WHICH ARE LOCATED IN APPANOOSE COUNTY, IOWA AND WERE OPERATED AS OUTLINED IN THE WILL OF MORGAN E. CLINE AND THE FORM 1023 APPLICATION. 1,248,003
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    11,542,861
    b
    Average of monthly cash balances.......................
    1b
    465,279
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    12,008,140
    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
    12,008,140
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    180,122
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    11,828,018
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    591,401
    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
    591,401
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    7,065
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    7,065
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    584,336
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    584,336
    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
    584,336
    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
    748,491
    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
    748,491
    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
    7,065
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    741,426
    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 7 584,336
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016...... 222,980
    e From 2017......  
    fTotal of lines 3a through e........ 222,980
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 748,491
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 584,336
    e Remaining amount distributed out of corpus 164,155
    5 Excess distributions carryover applied to 2018. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 387,135
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		387,135
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016.... 222,980
    d Excess from 2017....  
    e Excess from 2018.... 164,155
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    ALISON FRASER
    217 N 13TH ST
    CENTERVILLE,IA52544
    (641) 437-1068
    bThe form in which applications should be submitted and information and materials they should include:
    AT THIS TIME THERE IS NO FORMAL GRANT APPLICATION FORM. IT IS BELIEVED THAT THE FOUNDATION WILL REQUIRE APPLICATIONS AND GRANT PROPOSALS FOR ALL GRANTS IN EXCESS OF $10,000. THE PLAN IS THAT AT SOME POINT IN THE FUTURE APPLICATIONS MIGHT BE SUBMITTED ON AN INVITATION ONLY BASIS.
    cAny submission deadlines:
    THERE ARE NO SUBMISSION DEADLINES AT THIS TIME.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    ANY GRANT AWARDED WILL REQUIRE AN ACKNOWLEDGEMENT FROM THE RECIPIENT THAT THE FUNDS WILL BE USED EXCLUSIVELY FOR CHARITABLE PURPOSES. EACH RECIPIENT WILL BE REQUIRED TO SUBMIT PROOF OF 501(C)(3) EXEMPT STATUS. IT IS INTENDED THAT AWARDEE ORGANIZATIONS BE LOCATED IN AND AROUND APPANOOSE COUNTY, IOWA.
    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
    CITY OF EXLINE
    112 W MAIN ST
    EXLINE,IA52555     		  GOV CEMETERY MAINTENANCE 21,000
    18-80 CLUB
    922 W STATE ST
    CENTERVILLE,IA52544     		  PC FACILITY IMPROVEMENTS AND OPERATING COSTS 20,000
    DRAKE PUBLIC LIBRARY FOUNDATION
    115 DRAKE AVE
    CENTERVILLE,IA52544     		  PC TECHNOLOGY IMPROVEMENTS 20,000
    HISTORIC PRESERVATION CORPORATION
    309 N 13TH ST
    CENTERVILLE,IA52544     		  PC MAINTENANCE AND REPAIRS ON HISTORIC TROLLEY 20,000
    APPANOOSE COUNTY COALITION FOR THE ARTS
    317 N 13TH ST
    CENTERVILLE,IA52544     		  PC SUPPORT FOR OPERATING COSTS OF SAVE OUR SQUARE PROJECT 5,300
    KIDS WORLD
    722 N 1ST ST
    CENTERVILLE,IA52544     		  PC FACILITY IMPROVEMENTS AND OPERATING COSTS 3,000
    Total .................................bullet 3a 89,300
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    aNON-INVESTMENT RENTAL INCOME         527,200
    bOTHER INCOME         4,571
    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....     14 297,425  
    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 ............     		    18 476,424  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory         314,508
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 773,849 846,279
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,620,128
    (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.)
    1A-B NON-DEBT FINANCED RENTAL TO SUPPORT ECONOMICALLY DEPRESSED AREA SERVED
    1C REFUNDS/DISCOUNTS ON PROGRAMMATIC ACTIVITIES
    10 INVENTORY SALES TO SUPPORT ECONOMICALLY DEPRESSED AREA SERVED
    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
    THE MORGAN E CLINE PERPETUAL
    CHARITABLE FOUNDATION
    Employer identification number

    47-7016421
    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
    THE MORGAN E CLINE PERPETUAL
    CHARITABLE FOUNDATION         		Employer identification number
    47-7016421
    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
    THE MORGAN E CLINE ESTATE
     
    C/O BUCKALEW FRIZZELL CREVINA LLP 5
     
    GLEN ROCK, NJ07452

    		$ 96,293


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (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
    THE MORGAN E CLINE PERPETUAL
    CHARITABLE FOUNDATION         		Employer identification number

    47-7016421
    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
     
    		$    
    (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
     
    		$    
    (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
    THE MORGAN E CLINE PERPETUAL
    CHARITABLE FOUNDATION         		Employer identification number

    47-7016421
    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 AccountingFeesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 92,010 0 0 98,076

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC 3.8% 03/01/2024, 50000SH 49,496 49,496
    ALLY BANK CERTIFICATE OF DEPOSIT 1.55% 04/01/2019, 75000SH 74,828 74,828
    AMAZON.COM INC. USD (SEC REGD) 3.15% 08/22/2027-2027, 45000SH 43,447 43,447
    AMER AIRLN 15-1 A PTT 3.375% 11/01/2028, 41404.18SH 39,348 39,348
    AMERICAN INTERNATIONAL GROUP AIG 3.75% 07/10/2025-2025, 40000SH 38,298 38,298
    ANHEUSER-BUSCH INBEV FIN 2.65% 02/01/2021, 25000SH 24,585 24,585
    BMW US CAPITAL LLC SERIES 144S USD 144A 3.45% 04/12/2023, 70000SH 69,491 69,491
    BANK OF AMERICA CORP SERIES MTN 2.503% 10/21/2022, 50000SH 48,142 48,142
    BRISTOL-MYERS SQUIBB CO 1.75% 03/01/2019, 50000SH 49,892 49,892
    CVS HEALTH CORP 2.8% 07/20/2020, 50000SH 49,549 49,549
    CAPITAL ONE FINANCIAL CORPORATION 3.75% 03/09/2027-2027, 50000SH 46,440 46,440
    CHEVRON CORP 2.427% 06/24/2020, 25000SH 24,853 24,853
    COMCAST CORPORATION 3.3% 02/01/2027, 25000SH 23,826 23,826
    CONSTELLATION BRANDS INC. 2.7% 05/09/2022, 45000SH 43,465 43,465
    DISCOVER BAK CERTIFICATE OF DEPOSIT 1.75% 07/06/2020, 150000SH 147,464 147,464
    DR PEPPER SNAPPLE GROUP 3.13% 12/15/2023, 50000SH 47,751 47,751
    EXXON MOBIL CORPORATION 2.222% 03/01/2021, 25000SH 24,640 24,640
    FEDERAL HOME LOAN MORTGAGE CORP GOLD POOL, 127917.52SH 124,824 124,824
    FEDERAL MORTGAGE CORP GOLD POOL, 33743.42SH 33,705 33,705
    FEDERAL HOME LOAN BANK 4% 04/16/2038-2019, 45000SH 44,965 44,965
    FEDERAL HOME LOAN MORTGAGE CORP GOLD POOL, 77184.96SH 79,419 79,419
    FEDERAL FARM CREDIT BANK 2.7% 02/03/2025-2017, 65000SH 63,539 63,539
    FEDERAL NATIONAL MORTGAGE ASSN 6.25% 05/15/2029, 40000SH 51,295 51,295
    FEDERAL REALTY INVESTMENT TR 3.25% 07/15/2027, 40000SH 37,898 37,898
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 110130.06SH 110,512 110,512
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 84259.64SH 86,720 86,720
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 71047.12SH 72,777 72,777
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 76062.54SH 74,182 74,182
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 77596.5SH 78,591 78,591
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 66890.08SH 68,530 68,530
    FEDERAL NATL MTG ASSN POOL, 96533.42SH 98,774 98,774
    FEDERAL NATIONAL MORTGAGE ASSOCIATION POOL, 66249.04SH 69,054 69,054
    FORD MOTOR CREDIT COMPANY LLC 3.336% 03/18/2021, 25000SH 24,258 24,258
    GOVERNMENT NATIONAL MORTGAGE ASSOCIATION POOL, 79537.78SH 80,443 80,443
    GENERAL DYNAMICS CORP 2.25% 11/15/2022, 30000SH 29,270 29,270
    GILEAD SCIENCES INC 2.35% 02/01/2020, 55000SH 54,631 54,631
    JB HUNT TRANSPORT SERVICES 3.3% 08/15/2022, 50000SH 49,594 49,594
    HUNTINGTON BANCSHARES 2.3% 01/14/2022-2021, 50000SH 48,276 48,276
    INTERCONTINENTALEXCHANGE 3.75% 12/01/2025, 50000SH 50,364 50,364
    INTERSTATE POWER & LIGHT CO 3.25% 12/01/2024, 50000SH 48,727 48,727
    JP MORGAN CHASE & CO 4.25% 10/15/2020, 25000SH 25,451 25,451
    JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST POOL, 100000SH 98,552 98,552
    KINDER MORGAN ENER PART 3.5% 03/01/2021, 50000SH 49,846 49,846
    MARSH & MCLENNAN COS INC 2.75% 01/30/2022, 25000SH 24,503 24,503
    MCDONALD'S CORP SERIES MTN 3.5% 03/01/2027, 50000SH 48,560 48,560
    MEDTRONIC INC 3.5% 03/15/2025, 50000SH 49,802 49,802
    MORGAN STANLEY SERIES GMTN 3.875% 01/27/2026, 25000SH 24,384 24,384
    MORGAN STANLEY SERIES 3NC2 3.49288% 02/14/2020-2019, 25000SH 25,001 25,001
    NATIONAL RURAL UTIL COOP 2.45% 08/15/2022, 40000SH 39,126 39,126
    PACIFIC GAS & ELECTRIC CO 3.3% 12/01/2027-2027, 45000SH 36,722 36,722
    PUBLIC SERVICE ELECTRIC & GAS SERIES MTN 5.7% 12/01/2036, 40000SH 46,646 46,646
    QUALCOMM INC 4.65% 05/20/2035, 30000SH 28,960 28,960
    QUEBEC PROVINCE (FOREIGN) SERIES MTNA 6.35% 01/30/2026, 25000SH 29,609 29,609
    TOYOTA MOTOR CREDIT CORPORATION SERIES MTN, 50000SH 42,702 42,702
    UNITED AIR 2013-1 A PTT SERIES A 4.3% 02/15/2027, 48149.22SH 49,160 49,160
    VERIZON COMMUNICATIONS SERIES 144A 4.329% 09/21/2028, 25000SH 25,103 25,103
    VIRGINIA ELECTRIC & POWER CO SERIES A 3.15% 01/15/2026, 45000SH 43,457 43,457
    WELLS FARGO & COMPANY 2.125% 04/22/2019, 50000SH 49,852 49,852
    WELLS FARGO BANK NA CERTIFICATE OF DEPOSIT, 75000SH 74,815 74,815

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABB LTD - SPON ADR (FOREIGN), 875SH 16,634 16,634
    ADIDAS AG , 203SH 21,181 21,181
    ADOBE SYSTEMS, 327SH 73,980 73,980
    AES CORPORATION, 5707SH 82,523 82,523
    AIA GROUP LTD-SP ADR (FOREIGN), 542SH 17,821 17,821
    ALLIANZ SE ADR (FOREIGN), 863SH 17,381 17,381
    ALLSTATE, 543SH 44,868 44,868
    ALPHABET INC-CL A, 116SH 121,215 121,215
    AMAZON.COM INC, 91SH 136,679 136,679
    AMERICAN TOWER CORP, 645SH 102,033 102,033
    AMERICAN WATER WORKS CO INC, 819SH 74,341 74,341
    ANI PHARMACEUTICALS INC, 114SH 5,132 5,132
    APPLE INC, 1010SH 159,317 159,317
    ARMADA HOFFLER PROPERTIES INC (REIT), 656SH 9,223 9,223
    ASHTEAD GROUP PLC UNSPONS ADR, 196SH 16,437 16,437
    ASTELLAS PHARMA INC-USP ADR (FOREIGN), 792SH 9,932 9,932
    ATLAS AIR WORLDWIDE HOLDINGS INC, 169SH 7,130 7,130
    AXA - SPONS ADR (FOREIGN), 480SH 10,267 10,267
    BAIDU INC - SPON ADR, 65SH 10,309 10,309
    BANCO BILBAO VIZCAYA ARGENTARIA S.A. - SP ADR (FOREIGN), 2007SH 10,617 10,617
    BANK OZK, 226SH 5,160 5,160
    BLACKROCK INC, 147SH 57,745 57,745
    BLUEBIRD BIO INC., 33SH 3,274 3,274
    BOEING COMPANY, 388SH 125,130 125,130
    BROADCOM INC COM, 467SH 118,749 118,749
    CACI INTERNATIONAL INC-CL A, 41SH 5,905 5,905
    CALAVO GROWERS INC, 80SH 5,837 5,837
    CAMBREX CORP, 162SH 6,117 6,117
    CAMPING WORLD HOLDINGS INC-A, 263SH 3,017 3,017
    CANADIAN PACIFIC RAILWAY LIMITED-ADR (FOREIGN), 86SH 15,275 15,275
    CARBONITE INC, 247SH 6,239 6,239
    CARRIZO OIL & GAS INC, 342SH 3,861 3,861
    CELGENE CORPORATION, 704SH 45,119 45,119
    CHECK POINT SOFTWARE TECHNOLOGIES LTD, 161SH 16,527 16,527
    CHEVRON CORPORATION, 679SH 73,868 73,868
    CHINA CONSTRUCTION BANK CORPORATION UNSPON ADR (FOREIGN), 1056SH 17,213 17,213
    CHINA PETROLEUM & CHEMICAL CORP (SINOPEC)-ADR (FOREIGN), 209SH 14,755 14,755
    CISCO SYSTEMS INC, 1712SH 74,181 74,181
    COGNIZANT TECH SOLUTIONS CORP, 1552SH 98,521 98,521
    COMCAST CORPORATION NEW CL A, 2135SH 72,697 72,697
    COMFORT SYSTEMS USA INC, 174SH 7,600 7,600
    COMPAGNIE DE SAINT-UNSP ADR (FOREIGN), 1643SH 10,827 10,827
    CONOCOPHILLIPS, 1187SH 74,009 74,009
    CRH PLC-SPONSORED ADR (FOREIGN), 631SH 16,627 16,627
    CRISPR THERAPEUTICS AG, 147SH 4,200 4,200
    CVR ENERGY, 211SH 7,275 7,275
    CVS CORPORATION, 1116SH 73,120 73,120
    DANAHER CORP, 974SH 100,439 100,439
    EMERGENT BIOSOLUTIONS INC, 125SH 7,410 7,410
    ENEL SPA-UNSPON ADR (FOREIGN), 2220SH 12,898 12,898
    ENERSYS, 82SH 6,364 6,364
    ENTEGRIS INC, 249SH 6,946 6,946
    ESTEE LAUDER COMPANIES INC, 380SH 49,438 49,438
    EXPERIAN PLC-SPONS ADR, 997SH 24,083 24,083
    FACEBOOK INC-A, 360SH 47,192 47,192
    FEDEX CORPORATION, 455SH 73,405 73,405
    FISERV INC , 1348SH 99,065 99,065
    FOX FACTORY HOLDING CORP, 122SH 7,182 7,182
    FUNKO INC COM CL A, 519SH 6,825 6,825
    GLADSTONE COMMERCIAL CORPORATION-REIT, 415SH 7,437 7,437
    GRANITE CONSTRUCTION COMPANY, 185SH 7,452 7,452
    GREAT WESTERN BANCORP INC, 225SH 7,031 7,031
    GREEN DOT CORP-CLASS A, 100SH 7,952 7,952
    GS-INTERNATIONAL EMERGING MARKETS EQUITY INSIGHTS FUND, 7079.646SH 62,301 62,301
    H&E EQUIPMENT SERVICES INC, 401SH 8,188 8,188
    HOLLYSYS AUTOMATION TECHNOLOGIES LTD., 883SH 15,461 15,461
    HOME BANCSHARES INC, 433SH 7,075 7,075
    HONDA MOTOR CO. LTD-SPON ADR , 831SH 21,980 21,980
    HONEYWELL INTERNATIONAL INC, 941SH 124,325 124,325
    HOYA CORPORATION-SPONSORED ADR, 361SH 21,712 21,712
    HSBC HOLDINGS PLC - SPONS ADR (FOREIGN), 558SH 22,939 22,939
    IBERDROLA S.A. - SPONSORED ADR, 399SH 12,802 12,802
    ICON PLC (FOREIGN), 90SH 11,629 11,629
    INFINEON TECHNOLOGIES AG - ADR (FOREIGN), 1201SH 24,002 24,002
    INTEL CORP, 1096SH 51,435 51,435
    INTERCONTINENTALEXCHANGE GROUP INC, 995SH 74,953 74,953
    INTERNATIONAL PAPER, 1227SH 49,522 49,522
    INVESCO MORTGAGE CAPITAL, 565SH 8,181 8,181
    IROBOT CORPORATION, 88SH 7,369 7,369
    JOHNSON & JOHNSON, 768SH 99,110 99,110
    JOHNSON OUTDOORS INC A, 86SH 5,052 5,052
    JP MORGAN CHASE & CO, 1267SH 123,685 123,685
    KAISER ALUMINUM CORPORATION, 51SH 4,554 4,554
    KAO CORP, 1235SH 18,402 18,402
    KDDI CORPORATION-UNSPONSORED ADR (FOREIGN), 1542SH 18,273 18,273
    KEMET CORPORATION, 397SH 6,963 6,963
    KONINKLIJKE AHOLD NV SP ADR (FOREIGN), 905SH 22,833 22,833
    LAFARGEHOLCIM LTD-UNSP ADR (FOREIGN), 1935SH 15,790 15,790
    LAM RESEARCH CORPORATION, 370SH 50,383 50,383
    LGI HOMES INC, 116SH 5,246 5,246
    LHC GROUP INC, 66SH 6,196 6,196
    LIGAND PHARMACEUTICALS INCORPORATED, 55SH 7,464 7,464
    LITHIA MOTORS INC , 95SH 7,251 7,251
    LOWE'S COMPANIES INC, 799SH 73,796 73,796
    LVMH MOET HENNESSY LOUIS VUITTON SA-UNSP ADR, 299SH 17,480 17,480
    LYONDELLBASELL INDUSTRIES NV-CL A (FOREIGN), 1308SH 108,773 108,773
    MAGNA INTERNATIONAL INC (FOREIGN), 466SH 21,180 21,180
    MALIBU BOATS INC-A, 171SH 5,951 5,951
    MARINE HARVEST ASA - SPON ADR (FOREIGN), 1010SH 21,402 21,402
    MASCO, 2076SH 60,702 60,702
    MASTEC INC, 184SH 7,463 7,463
    MASTERCARD INC , 651SH 122,811 122,811
    MEDTRONIC PLC (FOREIGN), 821SH 74,678 74,678
    MERCK & CO INC, 1309SH 100,021 100,021
    MERIT MEDICAL SYSTEMS INC , 136SH 7,590 7,590
    MICROSOFT CORP, 1450SH 147,276 147,276
    MONMOUTH REIT-CLASS A, 576SH 7,142 7,142
    MORGAN STANLEY, 1855SH 73,551 73,551
    NATIONAL GRID PLC - SP ADR, 211SH 10,124 10,124
    NEW SENIOR INVESTMENT GROUP INC (REIT), 1345SH 5,541 5,541
    NIDEC CORPORATION-SPON ADR (FOREIGN), 954SH 26,760 26,760
    NIPPON TELEGRAPH & TELEPHONE SPONS ADR, 281SH 11,420 11,420
    NORTHROP GRUMMAN, 209SH 51,184 51,184
    NOVARTIS AG-ADR, 198SH 16,990 16,990
    NOVO NORDISK A/S ADR, 525SH 24,187 24,187
    OKTA INCORPORATION, 97SH 6,189 6,189
    ORANGE -SPON ADR (FOREIGN), 693SH 11,220 11,220
    O'REILLY AUTOMOTIVE INC, 242SH 83,328 83,328
    ORION ENGINEERED CARBONS SA (FOREIGN), 231SH 5,840 5,840
    ORIX CORPORATION-SPONSORED ADR, 294SH 21,036 21,036
    PANASONIC CORPORATION - SPON ADR (FOREIGN), 2362SH 21,234 21,234
    PATRICK INDUSTRIES INC, 207SH 6,129 6,129
    PEGASYSTEMS INC, 152SH 7,270 7,270
    PEOPLE'S UTAH BANCORP, 272SH 8,201 8,201
    PEPSICO INC, 447SH 49,385 49,385
    PERFORMANCE FOOD GROUP CO, 182SH 5,873 5,873
    PINNACLE FINANCIAL PARTNERS, 141SH 6,500 6,500
    PNC FINANCIAL SERVICES GROUP, 740SH 86,513 86,513
    POWER INTEGRATIONS INC, 114SH 6,952 6,952
    PRIMERICA INC, 83SH 8,110 8,110
    PROCTER & GAMBLE, 807SH 74,179 74,179
    PRUDENTIAL CORP PLC-ADR (FOREIGN), 443SH 15,669 15,669
    PRUDENTIAL FINANCIAL INC, 909SH 74,129 74,129
    PULTE CORP, 2818SH 73,240 73,240
    QUIDEL CORP., 132SH 6,444 6,444
    RAYONIER ADVANCED MATERIALS, 462SH 4,920 4,920
    REALPAGE INC, 153SH 7,373 7,373
    RIO TINTO PLC - SPON ADR (FOREIGN), 586SH 28,409 28,409
    ROCHE HOLDINGS LTD SPONSORED ADR, 370SH 11,500 11,500
    ROSS STORES INC., 845SH 70,304 70,304
    ROYAL DUTCH SHELL PLC-ADR A (FOREIGN), 288SH 16,782 16,782
    SANOFI -ADR (FOREIGN), 384SH 16,669 16,669
    SCHLUMBERGER LTD, 1218SH 43,945 43,945
    SCHNEIDER ELECT SA-UNSP ADR (FOREIGN), 1611SH 21,781 21,781
    SENSATA TECHNOLOGIES HOLDING PLC (FOREIGN), 499SH 22,375 22,375
    SHENANHOAH TELECOMMUNICATIONS, 186SH 8,231 8,231
    SHIP FINANCE INTERNATIONAL LTD, 384SH 4,044 4,044
    SIEMENS AG -SPONSORED ADR (NEW), 510SH 28,601 28,601
    SIMON PROPERTY GROUP INC, 390SH 65,516 65,516
    SOCIETE GENERALE -SPONS ADR, 2358SH 14,832 14,832
    SOFTBANK GROUP CORP-UNSP ADR (FOREIGN), 682SH 22,233 22,233
    SOUTHWEST GAS HOLDINGS INC, 111SH 8,492 8,492
    SPIRE INC, 102SH 7,556 7,556
    STARBUCKS CORP, 709SH 45,660 45,660
    STERLING BANCORP/DE, 464SH 7,661 7,661
    SUMITOMO MITSUI FINANCIAL GROUP INC-SPONS ADR (FOREIGN), 3140SH 20,441 20,441
    SUNCOR ENERGY INC (FOREIGN), 357SH 9,985 9,985
    SUNTRUST BANKS, 1412SH 71,221 71,221
    SVB FINANCIAL GROUP, 234SH 44,441 44,441
    SYSCO CORP, 1180SH 73,939 73,939
    TAYLOR MORRISON HOME CORP-A, 336SH 5,342 5,342
    TELEFONICA S.A., 2065SH 17,470 17,470
    THERMO FISHER SCIENTIFIC INC, 445SH 99,587 99,587
    TOTAL SA -SPONS ADR (FOREIGN), 312SH 16,280 16,280
    TOYOTA MOTOR CORPORATION-SPON ADR, 98SH 11,376 11,376
    TRITON INTERNATIONAL LTD/BERMUDA (FOREIGN), 213SH 6,618 6,618
    ULTRA CLEAN HOLDINGS INC, 477SH 4,040 4,040
    UNICREDIT S.P.A. ADR (FOREIGN), 3402SH 19,119 19,119
    UNIFIRST CORPORATION/MA, 45SH 6,438 6,438
    UNILEVER NV-NY SHARES (FOREIGN), 518SH 27,868 27,868
    UNITEDHEALTH GROUP INCORPORATED, 297SH 73,989 73,989
    VALERO ENERGY CORPORATION, 611SH 45,807 45,807
    VERINT SYSTEMS INC, 169SH 7,150 7,150
    VERIZON COMMUNICATIONS, 1780SH 100,072 100,072
    VISA INC-A, 361SH 47,630 47,630
    WAL-MART STORES INC, 818SH 76,197 76,197
    WALT DISNEY COMMON STOCK, 689SH 75,549 75,549
    WEST PHARMACEUTICAL SERVICES INC, 84SH 8,235 8,235
    WESTERN ALLIANCE BANCORP, 162SH 6,397 6,397
    WESTPAC BANKING CORP - SP ADR (FOREIGN), 941SH 16,439 16,439
    WIRECARD AG INSPON ADR EURO , 236SH 18,191 18,191
    XPO LOGISTICS INC, 867SH 49,454 49,454
    ZOETIS INC, 878SH 75,104 75,104

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    US Government Securities - End of Year Book Value:

    1,083,918
    US Government Securities - End of Year Fair Market Value:

    1,083,918
    State & Local Government Securities - End of Year Book Value:


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


    0


    TY 2018 LandEtcSchedule2
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    LAND 75,358 0 75,358 75,358
    BUILDING 1,392,202 84,112 1,308,090 1,308,090
    IMPROVEMENTS 468,399 20,886 447,513 447,513
    FURNITURE AND FIXTURES 163,014 12,009 151,005 151,005
    EQUIPMENT 173,663 14,730 158,933 158,933


    TY 2018 LegalFeesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 8,371 0 0 8,496


    TY 2018 OtherDecreasesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Description Amount
    UNREALIZED LOSS ON INVESTMENTS 1,220,593
    PRIOR PERIOD ADJUSTMENT 4


    TY 2018 OtherExpensesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADVERTISING 36,577 0 0 36,523
    EQUIPMENT LEASE AND MAINTENANCE 90,221 0 12,741 123,945
    INSURANCE 42,172 0 0 43,046
    LICENSES AND PERMITS 4,188 0 0 4,188
    MEMBERSHIP DUES AND SUBSCRIPTIONS 8,728 0 0 8,728
    SUPPLIES 56,283 0 50,842 7,056
    OTHER EXPENSES 66,577 0 324 92,555


    TY 2018 OtherIncomeSchedule2
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    NON-INVESTMENT RENTAL INCOME 527,200   527,200
    OTHER INCOME 4,571   4,571


    TY 2018 OtherLiabilitiesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Description Beginning of Year - Book Value End of Year - Book Value
    TENANT DEPOSITS PAYABLE 8,025 6,610


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONTRACTED SERVICES 35,628 0 181 41,833
    BANK FEES 174 36 0 138
    INVESTMENT FEES 52,079 52,079 0 0


    TY 2018 TaxesSchedule
    Name:
    THE MORGAN E CLINE PERPETUAL
     
    CHARITABLE FOUNDATION
    EIN:
    47-7016421
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 9,478 0 0 0
    PAYROLL TAXES 59,879 0 52,036 7,843
    REAL ESTATE TAXES 34,125 0 0 10,147