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
AEC Trust
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

36-6725987
B Telephone number (see instructions)

(800) 839-1754
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$35,996,987J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 23,473 23,473  
4 Dividends and interest from securities... 636,783 636,783  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,506,002
b Gross sales price for all assets on line 6a 10,570,786
7 Capital gain net income (from Part IV, line 2)... 3,506,002
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 1,070 1,070  
12 Total. Add lines 1 through 11........ 4,167,328 4,167,328  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 172,380 94,978   77,402
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 84,139      
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 172 157   15
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 256,691 95,135   77,417
25 Contributions, gifts, grants paid....... 1,679,500 1,679,500
26 Total expenses and disbursements. Add lines 24 and 25 1,936,191 95,135   1,756,917
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,231,137
b Net investment income (if negative, enter -0-) 4,072,193
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 884,991 2,301,025 2,301,025
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) 1,003,422 Click to see attachment1,307,996 1,285,784
b Investments—corporate stock (attach schedule)....... 20,308,973 Click to see attachment20,514,484 29,107,509
c Investments—corporate bonds (attach schedule)....... 1,703,534 Click to see attachment2,008,552 1,964,638
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 200,000 Click to see attachment200,000 1,338,031
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) 24,100,920 26,332,057 35,996,987
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 SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 24,100,920 26,332,057
30 Total net assets or fund balances (see instructions)..... 24,100,920 26,332,057
31 Total liabilities and net assets/fund balances (see instructions). 24,100,920 26,332,057
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
24,100,920
2
Enter amount from Part I, line 27a .....................
2
2,231,137
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
26,332,057
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
26,332,057
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 10,570,786   7,064,784 3,506,002
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       3,506,002
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 3,506,002
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 1,518,488 35,049,492 0.043324
2016 1,362,694 31,470,019 0.043301
2015 1,371,336 32,261,682 0.042507
2014 1,638,618 31,763,429 0.051588
2013 1,578,802 29,285,653 0.05391
2
Total of line 1, column (d) .....................
2
0.23463
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
0.046926
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
38,222,233
5
Multiply line 4 by line 3......................
5
1,793,617
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
40,722
7
Add lines 5 and 6........................
7
1,834,339
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,756,917
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 81,444
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 81,444
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 81,444
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 72,700
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 72,700
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 11
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 8,755
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
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)
    bulletIL
    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 addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
    CIBC national trust company Trustee
    1.0     		172,380 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    David H Cofrin Advisory Board Member
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Edith Dee Cofrin Advisory Board Chair
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Mary Ann H Cofrin Advisory Board Member
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Mary Ann P Cofrin Advisory Board Member
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Paige Cofrin Advisory Board Member
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    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
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
     
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    35,887,937
    b
    Average of monthly cash balances.......................
    1b
    1,578,329
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,338,031
    d
    Total (add lines 1a, b, and c).........................
    1d
    38,804,297
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    38,804,297
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    582,064
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    38,222,233
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,911,112
    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
    1,911,112
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    81,444
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    81,444
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,829,668
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,829,668
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    1,829,668
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,756,917
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,756,917
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,756,917
    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 1,829,668
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 1,672,041
    b Total for prior years:2016, 2015, 2014  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,756,917
    a Applied to 2017, but not more than line 2a 1,672,041
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 84,876
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2018.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		1,744,792
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018.... 0
    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).)
    NONE
    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:
    CIBC National Tr Co Whit Mansfield
    3290 Northside Pkwy NW 7th Fl
    Atlanta,GA30327
    (404) 881-3432
    bThe form in which applications should be submitted and information and materials they should include:
    See www.fsrequests.com/aec
    cAny submission deadlines:
    See www.fsrequests.com/aec
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    See www.fsrequests.com/aec
    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
    24 7 GATEWAY LLC
    275 PRYOR ST SW
    ATLANTA,GA30303     		N/A SO I Clear Path @Gateway Center Program 50,000
    AID ATLANTA INC
    1605 PEACHTREE ST NE
    ATLANTA,GA30309     		N/A PC The Women's Initiative 10,000
    ALACHUA CONSERVATION TRUST INCORPORATED
    7204 SE COUNTY RD 234
    GAINESVILLE,FL32641     		N/A PC Serenola Forest Acquisition 75,000
    AMERICAN NATIONAL RED CROSS
    PO BOX 37839
    BOONE,IA50037     		N/A PC Hurricane Florence efforts in North and South Carolina and continuing efforts in Puerto Rico 20,000
    AMHERST CINEMA ARTS CENTER INC
    28 AMITY ST
    AMHERST,MA01002     		N/A PC See-Hear-Feel-Film Project 15,000
    ATLANTA CENTER FOR SELF SUFFICIENCY INC
    460 EDGEWOOD AVE NE
    ATLANTA,GA30312     		N/A PC CareerWorks 9,000
    ATLANTA COMMUNITY TOOLBANK INC
    410 ENGLEWOOD AVE
    ATLANTA,GA30315     		N/A PC Multi-Pliers Capital Campaign 25,000
    ATLANTA SHAKESPEARE COMPANY
    499 PEACHTREE ST NE
    ATLANTA,GA30308     		N/A PC Atlanta Shakespeare Company Education Impact Project 20,000
    ATLANTA VICTIM ASSISTANCE INC
    150 GARNETT ST SW
    ATLANTA,GA30303     		N/A PC Victims to Victors (V2V) Program 10,000
    AUDIO INFORMATION NETWORK OF COLORADO
    1700 55TH ST
    BOULDER,CO80301     		N/A PC Audio Information Services for Blind/Low Vision and Print Disabled Boulder County residents 10,000
    AUDUBON SOCIETY OF RHODE ISLAND
    12 SANDERSON RD
    SMITHFIELD,RI02917     		N/A PC Environmental Education for Urban Schools Inititative 20,000
    BE THE GIFT INCORPORATED
    PO BOX 1285
    LOVELAND,CO80539     		N/A PC Home Repair Assistance for Single Moms and their Children 10,000
    BOULDER COMMUNITY HOUSING CORPORATION INC
    PO BOX 471
    BOULDER,CO80306     		N/A PC Family Self-Sufficiency Program 10,000
    BOULDER COUNTY RSVP BOARD INC
    6325 GUNPARK DR STE F
    BOULDER,CO80301     		N/A PC Cultivate Safety Net Services 12,000
    BOULDER HOUSING PARTNERS FOUNDATION
    4800 BROADWAY ST
    BOULDER,CO80304     		N/A PC Boulder Housing Partners: Promoting Family Self-Sufficiency 11,000
    BOULDER PHILHARMONIC ORCHESTRA
    1600 RANGE ST STE 200
    BOULDER,CO80301     		N/A PC Boulder Philharmonic 2018-19 community outreach and education programming 10,000
    CANINE PARTNERS OF THE ROCKIES INC
    651 POTOMAC ST STE E
    AURORA,CO80011     		N/A PC Mobility Assistance Dogs Project 10,000
    CENTER FOR HUMAN DEVELOPMENT Family Outreach of A
    401 MAIN ST STE 12
    AMHERST,MA01002     		N/A PC Family Outreach of Amherst Project 50,000
    CENTRAL OUTREACH AND ADVOCACY CENTER INC
    201 WASHINGTON ST SW
    ATLANTA,GA30303     		N/A PC Providing Identification - A Critical Step for Atlanta's homeless and near homeless individuals 7,500
    CHEF ANN FOUNDATION
    5445 CONESTOGA COURT STE 150
    BOULDER,CO80301     		N/A PC General & Unrestricted 5,000
    CHOPART CORPORATION
    1589 MIMS ST SW
    ATLANTA,GA30314     		N/A PC Evolution Art Residency 30,000
    CLARKSTON COMMUNITY CENTER FOUNDATION INC
    PO BOX 217
    CLARKSTON,GA30021     		N/A PC Success for Teens in English and Math 20,000
    COLLEGE AIM INC
    825 VIRGINIA PARK CIR NE
    ATLANTA,GA30306     		N/A PC AIM for Impact 5,000
    COLORADO FRIENDSHIP
    1067 S HOVER ST STE E-116
    LONGMONT,CO80501     		N/A PC IncrEdibles Project 5,000
    COLORADO MOUNTAIN CLUB
    710 10TH ST STE 200
    GOLDEN,CO80401     		N/A PC the Youth Education Program 7,500
    COMMUNITY ADVANCED PRACTICE NURSES INC
    PO BOX 8972
    ATLANTA,GA31106     		N/A PC Women & Children's Health & Wellness Program Project 15,000
    CONSERVATION TRUST FOR FLORIDA INC
    1731 NW 6TH ST STE F
    GAINESVILLE,FL32609     		N/A PC Protect and Connect North Central Florida Forests 25,000
    CROSSROADS COMMUNITY MINISTRIES INC
    420 COURTLAND ST NE
    ATLANTA,GA30308     		N/A PC The Renewal Project/Crossroads Connect Program 5,000
    DEVELOPMENTAL DISABILITIES CENTER DBA IMAGINE
    1400 DIXON AVE
    LAFAYETTE,CO80026     		N/A PC Community Calendar Events Project 10,000
    EMERGENCY FAMILY ASSISTANCE ASSOCIATION INC
    1575 YARMOUTH AVE
    BOULDER,CO80304     		N/A PC General Operating Support 15,000
    EMERGENCY RESPONDER TRAUMA COUNSELORS
    PO BOX 52
    TIMNATH,CO80547     		N/A PC General & Unrestricted 10,000
    ENCHANTED CIRCLE INC
    4 OPEN SQ WAY STE 206
    HOLYOKE,MA01040     		N/A PC Enchanted Circle's Arts Integrated Learning in Amherst Regional Public Schools (ARPS) 10,000
    ENVIRONMENTAL LEARNING FOR KIDS
    PO BOX 21679
    DENVER,CO80221     		N/A PC ELK Youth Naturally (ELKYN) Project 10,000
    FERNBANK INC
    767 CLIFTON RD NE
    ATLANTA,GA30307     		N/A PC Pioneering the Nature Generation Initiative 100,000
    FIRST STEP STAFFING
    236 AUBURN AVE NE STE 203
    ATLANTA,GA30303     		N/A PC Support for Homeless Jobseekers 20,000
    FRIENDS OF LITTLE ORANGE CREEK INC
    PO BOX 611
    HAWTHORNE,FL32640     		N/A PC Creekside Ecology for Kids 15,000
    GEORGIA ASYLUM & IMMIGRATION NETWORK INC
    PO BOX 78425
    ATLANTA,GA30357     		N/A PC Georgia Asylum & Immigration Network (GAIN) General operating support 15,000
    GEORGIA JUSTICE PROJECT INC
    438 EDGEWOOD AVE SE
    ATLANTA,GA30312     		N/A PC Improving Employability of People with a Criminal record project 10,000
    GEORGIA WAND EDUCATION FUND INC
    250 GEORGIA AVE SE
    ATLANTA,GA30312     		N/A PC We Count! Intersectional Education & Civic Engagement program 10,000
    GREEN UP OUR SCHOOLS
    5735 ARAPAHOE AVE STE C
    BOULDER,CO80303     		N/A PC general & unrestricted 7,500
    GREENHOUSE SCHOLARS
    1820 FOLSOM ST
    BOULDER,CO80302     		N/A PC Turning under-resourced students into leaders and role models: the whole person program in colorado and georgia 10,000
    GROWING GARDENS
    PO BOX 1066
    BOULDER,CO80306     		N/A PC Growing Gardens Food Project: Plants and Produce for low-income families 5,000
    IGNITE ADAPTIVE SPORTS
    PO BOX 19016
    BOULDER,CO80308     		N/A PC Adaptive Winter Sports Program 10,000
    INN BETWEEN OF LONGMONT INC
    515 KIMBARK ST STE 107
    LONGMONT,CO80501     		N/A PC Supportive Housing and Services Program 40,000
    INTERNATIONAL COMMUNITY SCHOOL INC
    2418 WOOD TRAIL LN
    DECATUR,GA30033     		N/A PC Reading Recovery, Early Intervention Program and English as a second language support 5,000
    JERUSALEM HOUSE INC
    17 EXECUTIVE PARK DR NE STE 2
    ATLANTA,GA30329     		N/A PC The Housing Programs of Jerusalem House 25,000
    KESTREL LAND TRUST
    PO BOX 1016
    AMHERST,MA01004     		N/A PC Pioneer Valley Conservation Cemetery Project 25,000
    LIFECYCLE BUILDING CENTER INC
    PO BOX 7661
    ATLANTA,GA30357     		N/A PC Deconstruction Services Project 15,000
    LIVE-THRIVE ATLANTA INC
    3901 WHITTINGTON DR NE
    ATLANTA,GA30342     		N/A PC Center for Hard to Recycle Materials, CHaRM Project 50,000
    LIVING ROOM INC
    50 HURT PLZ SE STE 1200
    ATLANTA,GA30303     		N/A PC Living Room Core Mission Support 5,000
    MARTIN LUTHER KING COMMUNITY CENTER INCORPORATED
    20 DR MARCUS WHEATLAND BLVD
    NEWPORT,RI02840     		N/A PC Summer Camp Project 25,000
    MATHESON HISTORY MUSEUM INC
    513 E UNIVERSITY AVE
    GAINESVILLE,FL32601     		N/A PC Environmental Upgrades and Program Support 50,000
    MEN STOPPING VIOLENCE INC
    2785 LAWRENCEVILLE HWY STE 112
    DECATUR,GA30033     		N/A PC Because We Have Daughters (BWHD) Project 10,000
    MOVING IN THE SPIRIT INC
    544 ANGIER AVE NE
    ATLANTA,GA30308     		N/A PC Moving in the Spirit Project 50,000
    MUSEUM OF CONTEMPORARY ART OF GEORGIA INC
    75 BENNETT ST NW
    ATLANTA,GA30309     		N/A PC MOCA GA's Working Artist Project 20,000
    NATIONAL CENTER FOR CIVIL AND HUMAN RIGHTS INC
    250 WILLIAMS ST STE 2322
    ATLANTA,GA30303     		N/A PC Operation Inspiration Project 5,000
    OUR HOUSE INC
    711 S COLUMBIA DR
    DECATUR,GA30030     		N/A PC Early Childhood Education for Homeless Children Project 10,000
    OUT OF HAND THEATER INC
    675 PONCE DE LEON AVE
    ATLANTA,GA30308     		N/A PC Creative Kids 2018 7,500
    PARLANDO INCORPORATED
    2590 WALNUT ST
    BOULDER,CO80302     		N/A PC Tuition Assistance for Underserved Youth 10,000
    READER TO READER INC
    38 WOODSIDE AVE
    AMHERST,MA01002     		N/A PC Read, Think, Share Project 15,000
    RESOURCE CENTRAL
    2639 SPRUCE ST
    BOULDER,CO80302     		N/A PC Unearth the Turf: Saving Water through Turf Removal 10,000
    SER FAMILIA INC
    209 NORTHRIDGE DR
    ACWORTH,GA30101     		N/A PC Mental Health Services for Latina Women in Metro Atlanta 25,000
    SOUTHFACE ENERGY INSTITUTE INC
    241 PINE ST NE
    ATLANTA,GA30308     		N/A PC Green Infrastructure and Resilience Institute (GIRI) 25,000
    STUDY HALL AT EMMAUS HOUSE INC
    1010 CREW ST SW
    ATLANTA,GA30315     		N/A PC The Study Hall afterschool and summer program 15,000
    SYNCHRONICITY PERFORMANCE GROUP
    1389 PEACHTREE ST NE STE 350
    ATLANTA,GA30309     		N/A PC Capacity Building Audience Development through New strategic programming & marketing initiatives 30,000
    TAHIRIH JUSTICE CENTER
    108 N VIRGINIA AVE STE 100
    FALLS CHURCH,VA22041     		N/A PC Empowering Immigrant Women & Girls in Atlanta Fleeing gender-based violence 5,000
    TEACHING PEACE
    528 MAIN ST
    LONGMONT,CO80501     		N/A PC Restorative Justice Project 5,000
    THE CENTER FOR BLACK WOMENS WELLNESS CBWW INC
    477 WINDSOR ST SW RM 309
    ATLANTA,GA30312     		N/A PC Wellness Program (Women's Health and Behavioral Health project) 15,000
    THE CHARIS CIRCLE INC
    1189 EUCLID AVE NE
    ATLANTA,GA30307     		N/A PC General & Unrestricted 25,000
    THE CHARIS CIRCLE INC
    1189 EUCLID AVE NE
    ATLANTA,GA30307     		N/A PC Feminist Futures: From Margin to Center Literary Project 50,000
    THE GLOBAL VILLAGE PROJECT INC
    PO BOX 1548
    DECATUR,GA30031     		N/A PC Holistic and accelerated academic program for girls with interrupted schooling and limited english 10,000
    THE HUMANE SOCIETY OF BOULDER VALLEY INC
    2323 55TH ST
    BOULDER,CO80301     		N/A PC Spay and Neuter Services for Shelter and Community animals 15,000
    THE NAMES PROJECT FOUNDATION
    117 LUCKIE ST NW
    ATLANTA,GA30303     		N/A PC The AIDS Memorial Quilt Workshop, Conservation and display program 50,000
    THORNE ECOLOGICAL INSTITUTE
    PO BOX 19107
    BOULDER,CO80308     		N/A PC Nature Immersion Program 5,000
    TRAINING AND COUNSELING CENTER AT SAINT LUKES INC
    435 PEACHTREE ST NE
    ATLANTA,GA30308     		N/A PC Highly-Trained Mental Health Counseling Services for the underserved and low-resourced 20,000
    TRANS HOUSING ATLANTA INC
    1530 DEKALB AVE NE STE A
    ATLANTA,GA30307     		N/A PC Housing Case Management and Supportive Services Program 7,500
    UNIVERSITY OF FLORIDA FOUNDATION INC - SAMUEL P H
    PO BOX 14425
    GAINESVILLE,FL32604     		N/A PC Harn General Program to support exhibitions, educational programs, publications, and staff 150,000
    VETERANS PATH INC
    PO BOX 2276
    MT JULIET,CA37121     		N/A PC 4-Month Anchor Program 10,000
    VOX TEEN COMMUNICATIONS INC
    229 PEACHTREE ST NE STE 725
    ATLANTA,GA30303     		N/A PC Summer at VOX & 25th Anniversary Campaign Project 20,000
    WILD BEAR CENTER FOR NATURE DISCOVERY
    PO BOX 3017
    NEDERLAND,CO80466     		N/A PC Hands-on Mountain Ecology Education for Boulder based school groups 5,000
    WOMEN MOVING ON INC
    PO BOX 171
    DECATUR,GA30031     		N/A PC General Operating - Women's Resource Center to End domestic violence 25,000
    WOMENS WILDERNESS INSTITUTE
    2845 WILDERNESS PL STE 211
    BOULDER,CO80301     		N/A PC Girls' Leadership Program 10,000
    YOUTHSPARK INC
    395 PRYOR ST SW STE 2117
    ATLANTA,GA30312     		N/A PC Youth Services Center Project 15,000
    ZAMI NOBLA
    PO BOX 90986
    ATLANTA,GA30364     		N/A PC The LGBTQ Community and Financial Literary: Understanding dollars & cents 5,000
    Total .................................bullet 3a 1,679,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 23,473  
    4 Dividends and interest from securities....     14 636,783  
    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 3,506,002  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aCLASS ACTION LAWSUIT PROCEEDS     		    01 1,070  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   4,167,328  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,167,328
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


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    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

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    TY 2018 DepreciationSchedule
    Name:
    AEC Trust
    EIN:
    36-6725987
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    AEC Trust
    EIN:
    36-6725987
    Name of Bond End of Year Book Value End of Year Fair Market Value
    AT&T INC GLBL NT - 3.000% - 02 193,332 196,552
    BANK OF AMERICA SR NOTE - 2.25 148,136 148,397
    BLACKROCK INC - 5.000% - 12/10 149,716 127,241
    CAPITAL ONE - 2.050% - 08/15/2 98,168 98,527
    COMCAST CORP - 3.375% - 08/15/ 100,181 97,442
    COSTCO WHSL CORP - 1.700% - 12 97,223 98,916
    DISCOVER CARD EXE TRSER 2017-6 97,977 98,382
    GE CAP CORP - 4.625% - 01/07/2 248,842 250,644
    INTEL CORP NOTE - 3.300% - 10/ 208,893 202,118
    ORACLE CORP - 3.625% - 07/15/2 152,234 152,031
    PEPSICO INC BOND - 3.000% - 08 265,987 250,605
    SCHWAB CHARLES CORP - 3.200% - 144,456 143,097
    THE COCA-COLA COMPANY - 3.150% 103,407 100,686

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    AEC Trust
    EIN:
    36-6725987
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADOBE SYSTEMS, INC 239,937 358,364
    AIA GROUP LTD ADR 22,601 22,621
    ALIBABA GROUP HOLDING LTD 19,699 17,819
    ALLERGAN PLC 577,127 283,894
    ALPHABET INC CL A 84,937 319,758
    ALPHABET INC CL C 520,795 1,032,503
    AMADEUS IT HLDS SA 17,313 16,735
    AMAZON COM 409,418 1,284,185
    AMERICAN TOWER REIT INC 348,517 427,429
    ANALOG DEVICES INC 344,411 350,959
    APPLE INC 311,886 694,056
    ASML HOLDING NV NY REG SHS 16,660 15,718
    ASSA ABLOY UNSP/ADR 14,847 14,440
    AUTOMATIC DATA PROCESSING INC 197,176 458,920
    BAE SYSTEMS PLC 13,526 13,654
    BANCO SANTANDER CEN 16,437 15,904
    BARCLAYS ETN PLUS SELECT MLP 625,331 521,794
    BHP BILLITON LIMITED 16,654 16,853
    BLACKROCK INC 261,649 363,751
    BOEING CO 98,057 422,798
    BROOKFIELD ASSET MANAGEMENT CL 9,064 8,399
    CANADIAN NATL RAILWAY CO 12,461 11,709
    CAPITAL ONE FINANCIAL CORP 226,831 271,670
    CHEVRON CORP 420,495 381,635
    CHUBB LIMITED 17,216 17,181
    CIGNA CORPORATION 553,021 664,160
    CISCO SYSTEMS INC 346,351 624,299
    CITIGROUP INC 452,904 475,308
    COMCAST CORP 278,966 445,408
    CONTL AG SPONS ADR 10,899 10,569
    CVS CAREMARK CORP 244,624 282,522
    DAIKIN INDS LTD ADR 17,480 16,753
    DANAHER CORP 283,950 645,944
    DBS GROUP HLDGS SPON ADR 16,812 16,803
    DEUTSCHE BOERSE ADR 9,403 9,150
    DIAGEO PLC ADS 21,763 21,412
    DOLLAR GENERAL CORP 138,370 315,702
    DOWDUPONT INC 540,590 409,496
    EOG RESOURCES INC 304,433 297,124
    EURONET WORLDWIDE INC 23,257 22,114
    EXPEDIA INC 476,586 373,773
    FANUC LIMITED UNSPONSORED 13,553 13,358
    FIDELITY NATIONAL INFORMATION 337,101 601,353
    FISERV INC 76,668 487,900
    FOMENTO ECONOMICO MEXICANO 14,318 14,542
    FORTIVE CORPORATION 182,532 305,147
    GLENCORE XSTRATA PLC ADR 6,469 6,270
    GRIFOLS SA REP 1/2 CL B 20,778 19,902
    HDFC BANK LTD ADR 25,045 25,690
    HOME DEPOT INC 263,569 485,220
    HONEYWELL INTL 626,726 632,591
    HSBC HOLDINGS PLC 18,138 18,006
    ICON PLC - AMERICAN DEPOSITARY 20,968 19,898
    INTERCONTINENTAL EXCHANGE, INC 627,572 670,136
    INTERCONTINENTAL HOTELS GROUP 15,426 15,667
    INTERXION HOLDING N.V 14,570 13,269
    JOHNSON & JOHNSON 437,579 614,923
    JP MORGAN CHASE 272,646 675,726
    JULIUS BAER GROUP LTD 14,436 13,463
    KINDER MORGAN INC 309,486 234,883
    L'AIR LIQUIDE ADR OTC 16,946 17,146
    LAS VEGAS SANDS CORP 13,135 12,388
    LINDE PLC COM 199,103 428,642
    LONDON STK EXCHANGE GROUP 15,176 15,471
    LUXOTTICA GROUP SPON ADR EACH 15,621 15,656
    LVMH MOET HENN UNSP 17,346 17,421
    MATTHEWS PACIFIC TIGER FUND I 737,337 687,855
    MEDTRONIC PLC 567,904 656,731
    MERCADOLIBRE, INC 15,429 13,471
    MERCK & CO INC 130,284 287,684
    MICROSOFT CORP 340,307 1,168,258
    NEW ORIENTAL ED & TECHNOLOGY G 11,538 11,181
    NEXTERA ENERGY, INC 185,089 301,752
    NIDEC CORPORATION ADR 20,236 18,317
    NOVARTIS AG ADR 23,836 23,083
    NTT DOCOMO 12,301 12,126
    OCCIDENTAL PETROLEUM CORP 297,569 238,523
    ORACLE CORP 237,995 426,532
    PEPSICO INC 304,000 417,393
    PIONEER NAT RES CO 318,537 246,995
    PRUDENTIAL FINCL INC 366,872 346,751
    QUALCOMM INC 490,107 446,687
    RAYTHEON CO 473,902 392,576
    RITCHIE BROS AUCTIONEERS 16,896 17,047
    ROYAL DUTCH SHEL PLC SPONS ADR 17,279 17,083
    SCHLUMBERGER LTD 13,363 11,762
    SEVEN & I HOLDINGS C 11,923 11,967
    SIEMENS AG 9,441 9,309
    SMITH & NEPHEW PLC ADR 14,380 13,980
    STRYKER CORPORATION 92,140 283,404
    SUNCOR ENERGY INC 13,599 12,363
    SYMRISE AG UNSPONSORED 14,788 14,205
    SYSMEX CORP UNSP ASDR 12,756 12,026
    T-MOBILE US INC 362,706 393,937
    TAIWAN SEMICONDUCTOR MFG CO LT 16,566 16,314
    TENCENT HOLDINGS LIMITED 22,066 21,590
    THERMO FISHER SCIENTIFIC INC 253,683 429,677
    TJX COMPANIES INC 199,999 276,583
    TOKIO MARINE HOLDINGS INC 12,197 12,045
    TWEEDY BROWNE GLOBAL VALUE FUN 316,672 288,342
    UNION PACIFIC 242,981 426,716
    UNITED TECHNOLOGIES CORP 416,928 522,923
    UNITEDHEALTH GROUP INC 101,207 788,216
    US BANCORP 330,536 410,615
    V F CORP 179,445 336,939
    VISA INC 462,274 921,073
    WELLS FARGO & CO 442,772 556,462
    YUM CHINA HOLDINGS INC 17,559 16,128
    ZOETIS INC 249,724 242,934

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    AEC Trust
    EIN:
    36-6725987
    US Government Securities - End of Year Book Value:

    1,307,996
    US Government Securities - End of Year Fair Market Value:

    1,285,784
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2018 InvestmentsOtherSchedule2
    Name:
    AEC Trust
    EIN:
    36-6725987
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    KING STREET CAPITAL   200,000 1,338,031

    TY 2018 OtherExpensesSchedule
    Name:
    AEC Trust
    EIN:
    36-6725987
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Bank Charges 157 157    
    State or Local Filing Fees 15     15


    TY 2018 OtherIncomeSchedule2
    Name:
    AEC Trust
    EIN:
    36-6725987
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Class Action Lawsuit Proceeds 1,070 1,070  


    TY 2018 TaxesSchedule
    Name:
    AEC Trust
    EIN:
    36-6725987
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2018 72,700      
    990-PF Excise Tax for 2016 32      
    990-PF Excise Tax for 2017 11,407