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 EDWARD M ARMFIELD SR FOUNDATION
INC
Number and street (or P.O. box number if mail is not delivered to street address)324 W WENDOVER AVE NO 130
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
GREENSBORO, NC27408
A Employer identification number

56-2156876
B Telephone number (see instructions)

(336) 273-7519
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$59,069,159J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,210 1,210  
4 Dividends and interest from securities... 1,588,954 1,358,862  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 861,174
b Gross sales price for all assets on line 6a 1,928,232
7 Capital gain net income (from Part IV, line 2)... 1,075,463
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 0 -36,393  
12 Total. Add lines 1 through 11........ 2,451,338 2,399,142  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 162,849 32,570   130,279
14 Other employee salaries and wages...... 78,624 15,725   62,899
15 Pension plans, employee benefits....... 2,230 446   1,784
16a Legal fees (attach schedule)......... Click to see attachment 47,554 42,872   4,682
b Accounting fees (attach schedule)....... Click to see attachment 56,590 11,318   45,272
c Other professional fees (attach schedule).... Click to see attachment 185,469 145,059   40,200
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 36,019 7,547   12,661
19 Depreciation (attach schedule) and depletion... 10,058 0  
20 Occupancy.............. 23,627 4,725   18,902
21 Travel, conferences, and meetings....... 1,998 400   1,598
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 320,042 301,533   18,509
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 925,060 562,195   336,786
25 Contributions, gifts, grants paid....... 3,323,300 3,136,898
26 Total expenses and disbursements. Add lines 24 and 25 4,248,360 562,195   3,473,684
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,797,022
b Net investment income (if negative, enter -0-) 1,836,947
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............. 1,239,851 172,139 172,139
2 Savings and temporary cash investments......... 1,725,805 398,865 398,865
3 Accounts receivable bullet826
Less: allowance for doubtful accounts bullet   585 826 826
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 12,919,005 Click to see attachment12,933,473 12,933,473
c Investments—corporate bonds (attach schedule)....... 3,299,130 Click to see attachment2,850,017 2,850,017
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 44,272,384 Click to see attachment42,531,638 42,531,638
14 Land, buildings, and equipment: basis bullet56,865
Less: accumulated depreciation (attach schedule) bullet30,179 33,939 26,686 26,686
15 Other assets (describe bullet) Click to see attachment217,830 Click to see attachment155,515 Click to see attachment155,515
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 63,708,529 59,069,159 59,069,159
Liabilities 17 Accounts payable and accrued expenses.......... 32,671 55,360
18 Grants payable................. 5,587,655 5,772,826
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) Click to see attachment0 Click to see attachment1,750,000
23 Total liabilities (add lines 17 through 22)......... 5,620,326 7,578,186
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.................. 58,088,203 51,490,973
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)..... 58,088,203 51,490,973
31 Total liabilities and net assets/fund balances (see instructions). 63,708,529 59,069,159
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
58,088,203
2
Enter amount from Part I, line 27a .....................
2
-1,797,022
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
56,291,181
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
4,800,208
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
51,490,973
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 PIMCO FUNDS   2016-01-01 2018-12-18
b EMPIRE CAPITAL SHARES   2016-01-01 2018-08-15
c GOLDMAN SACHS - M FUND P 2015-01-01 2018-12-31
d DW CATALYST K-1 P 2015-01-01 2018-06-30
e NEWPORT ASIA K-1 P 2015-01-01 2018-06-30
WHITEHALL K-1 P 2015-01-01 2018-06-30
CAPITAL GAINS DIVIDENDS P    
(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 500,000   503,554 -3,554
b 1,000,000   349,215 650,785
c 35,942     35,942
d 22,371     22,371
e 92,752     92,752
85,034     85,034
192,133     192,133
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       -3,554
b       650,785
c       35,942
d       22,371
e       92,752
      85,034
      192,133
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 1,075,463
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 3,001,952 60,686,306 0.049467
2016 3,193,059 58,682,830 0.054412
2015 3,250,096 61,265,205 0.053050
2014 2,970,548 65,082,321 0.045643
2013 2,867,559 61,450,837 0.046664
2
Total of line 1, column (d) .....................
2
0.249236
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
0.049847
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
60,399,578
5
Multiply line 4 by line 3......................
5
3,010,738
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
18,369
7
Add lines 5 and 6........................
7
3,029,107
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,473,684
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 18,369
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 18,369
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 18,369
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 33,715
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 33,715
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 15,346
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet15,346 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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See 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 ofbulletMINDY OAKLEY Telephone no.bullet (336) 273-7519

    Located atbullet324 WEST WENDOVER AVE - STE 130GREENSBORONC ZIP+4bullet27408
    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
    ADAIR P ARMFIELD DIRECTOR
    2.00     		6,000 0 0
    1504 EDGEDALE ROAD
    GREENSBORO,NC27408
    BEDFORD CANNON DIRECTOR
    2.00     		5,000 0 0
    140 EAST WATER STREET
    STATESVILLE,NC28677
    PHIFER CRUTE DIRECTOR
    2.00     		4,000 0 0
    1327 TORREY PINE ROAD
    LAJOLLA,CA92037
    JAMES C B HANCOCK DIRECTOR
    2.00     		4,000 0 0
    177 BLEECKER ST 12
    NEW YORK,NY10012
    R DAVID SPRINKLE DIRECTOR
    2.00     		4,000 0 0
    3017 VERBENA LN
    GREENSBORO,NC27410
    MELINDA W OAKLEY OFFICER
    40.00     		135,935 3,914 0
    1911 LAFAYETTE AVE
    GREENSBORO,NC27408
    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
    DIANA HEDGSPETH OFFICE MGR
    40.00     		78,624 2,229 0
    324 W WENDOVER AVE - STE 130
    GREENSBORO,NC27408
    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
    GEOSYNTEC CONSULTANTS ENVIRONMENTAL CLEAN UP SERVICES 157,062
    924 ANACAPA STREET - STE 4A
    SANTA BARBARA,CA93101
    ESSENTIAL MANAGEMENT ENVIRONMENTAL CLEAN UP SERVICES 128,399
    824 NEVILLE LN
    GOLDEN,CO80401
    MONTICELLO ASSOCIATES ASSET MANAGEMENT CONSULTANT 125,000
    1800 LARIMER STREET
    DENVER,CO80202
    DMJ & CO PLLC ACCOUNTING 56,590
    703 GREEN VALLEY RD - STE 201
    GREENSBORO,NC27408
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    16,704,791
    b
    Average of monthly cash balances.......................
    1b
    1,899,975
    c
    Fair market value of all other assets (see instructions)................
    1c
    42,714,603
    d
    Total (add lines 1a, b, and c).........................
    1d
    61,319,369
    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
    61,319,369
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    919,791
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    60,399,578
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,019,979
    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
    3,019,979
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    18,369
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    18,369
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,001,610
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,001,610
    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
    3,001,610
    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
    3,473,684
    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
    3,473,684
    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
    18,369
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,455,315
    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 3,001,610
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 2,473,591
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,473,684
    a Applied to 2017, but not more than line 2a 2,473,591
    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..... 1,000,093
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		2,001,517
    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 ......     		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....  
    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:
    MELINDA W OAKLEY
    324 W WENDOVER AVE - STE 130
    GREENSBORO,NC27408
    (336) 273-7519
    MINDY.OAKLEY@ARMFIELDFDN.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    CALL FOUNDATION FOR REQUIRED GRANT APPLICATION FORM
    cAny submission deadlines:
    JUNE 15TH AND OCTOBER 31ST
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    COMMUNITY CAPITAL CAMPAIGNS, EDUCATIONAL INSTITUTION CAPITAL CAMPAIGNS AND EDUCATIONAL PROGRAMS IN GUILFORD, RANDOLPH AND SURRY COUNTIES IN NC.
    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
    COMMUNITY FOUNDATION OF GREATER GREENSBORO
    330 S GREENE ST SUITE 130
    GREENSBORO,NC27401     		NONE PC GENERAL SUPPORT 685,000
    UNC GREENSBORO
    PO BOX 26177
    GREENSBORO,NC27402     		NONE PC GENERAL SUPPORT 240,000
    DAVIDSON COLLEGE
    BOX 7157
    DAVIDSON,NC28035     		NONE PC GENERAL SUPPORT 200,000
    UNC CHAPEL HILL - CAROLINA COLLEGE ADVISING CORPS
    206 W FRANKLIN ST SUITE 100
    CHAPEL HILL,NC27599     		NONE PC GENERAL SUPPORT 200,000
    CENTER FOR CREATIVE LEADERSHIP
    233 DOCTORS STREET
    SPARTA,NC28675     		NONE PC GENERAL SUPPORT 150,000
    APPALACHIAN STATE UNIVERSITY
    PO BOX 32059 THOMAS HALL
    BOONE,NC28608     		NONE PC SCHOLARSHIPS 119,000
    UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL
    103 BYNUM HALL
    CHAPEL HILL,NC27599     		NONE PC SCHOLARSHIPS 117,250
    CANTERBURY SCHOOL
    5400 OLD LAKE JEANETTE RD
    GREENSBORO,NC27455     		NONE PC GENERAL SUPPORT 100,000
    SALVATION ARMYBOYS AND GIRLS CLUB
    PO BOX 443
    MT AIRY,NC27030     		NONE PC GENERAL SUPPORT 100,000
    UNIVERSITY OF NORTH CAROLINA-CHARLOTTE
    9201 UNIVERSITY BLVD
    CHARLOTTE,NC28223     		NONE PC SCHOLARSHIPS 86,650
    CITY OF ASHEBORO
    PO BOX 1106
    ASHEBORO,NC27204     		NONE GOV GENERAL SUPPORT 80,000
    NORTH CAROLINA STATE UNIVERSITY
    BOX 7302 / 2005 HARRIS HALL
    RALEIGH,NC27607     		NONE PC SCHOLARSHIPS 77,650
    CHILDREN'S HOME SOCIETY OF NORTH CAROLINA
    PO BOX 14608
    GREENSBORO,NC27415     		NONE PC GENERAL SUPPORT 65,000
    COMMUNITIES IN SCHOOLS OR GREATER GREENSBORO
    PO BOX 1347
    GREENSBORO,NC27402     		NONE PC GENERAL SUPPORT 64,921
    TREES NC
    PO BOX 1567
    ASHEBORO,NC27204     		NONE PC GENERAL SUPPORT 60,000
    WAKE FOREST UNIVERSITY
    PO BOX 7246
    WINSTONSALEM,NC27109     		NONE PC SCHOLARSHIPS 50,400
    ALLEGHANY MEMORIAL HOSPITAL FOUNDATION
    233 DOCTORS STREET
    SPARTA,NC28675     		NONE PC GENERAL SUPPORT 50,000
    GUILFORD COUNTY PARTNERSHIP FOR CHILDREN
    500 WEST FRIENDLY AVE SUITE 100
    GREENSBORO,NC27403     		NONE PC GENERAL SUPPORT 50,000
    ELKIN CITY SCHOOLS
    202 WEST SPRING ST
    ELKIN,NC28621     		NONE GOV GENERAL SUPPORT 44,837
    MT AIRY CITY SCHOOLS
    PO DRAWER 710
    MT AIRY,NC27030     		NONE GOV GENERAL SUPPORT 41,800
    SALEM COLLEGE
    601 S CHURCH ST
    WINSTONSALEM,NC27101     		NONE PC SCHOLARSHIPS 37,600
    GREEENSBORO LITERARY ORGANIZATION
    304 S ELM ST
    GREENSBORO,NC27401     		NONE PC GENERAL SUPPORT 35,000
    UNIVERSITY OF NORTH CAROLINA-GREENSBORO
    PO BOX 26177
    GREENSBORO,NC27402     		NONE PC SCHOLARSHIPS 31,900
    GARDNER-WEBB UNIVERSITY
    PO BOX 997
    BOILING SPRINGS,NC28017     		NONE PC SCHOLARSHIPS 28,000
    UNIVERSITY OF NORTH CAROLINA-ASHEVILLE
    CPO 2230
    ASHEVILLE,NC28804     		NONE PC SCHOLARSHIPS 25,500
    NORTHERN SURRY FOUNDATION FOR BETTER HEALTH
    PO BOX 1101
    MT AIRY,NC27030     		NONE PC GENERAL SUPPORT 25,000
    WESTERN CAROLINA UNIVERSITY
    HFR ADMINISTRATION BUILDING
    CULLOWHEE,NC28723     		NONE PC SCHOLARSHIPS 24,250
    VIRGINIA MILLITARY INSTITUTE
    STUDENT ACCOUNTING OFFICE
    LEXINGTON,VA24450     		NONE PC SCHOLARSHIPS 22,500
    BRIGHAM-YOUNG UNIVERSITY-UT
    A-41 ABRAHAM SMOOT BLDG
    PROVO,UT84602     		NONE PC SCHOLARSHIPS 21,750
    GUILFORD COLLEGE
    5800 WEST FRIENDLY AVE
    GREENSBORO,NC27410     		NONE PC SCHOLARSHIPS 20,000
    HOSPICE AND PALLIATIVE CARE OF GREENSBORO
    500 SUMMIT AVE
    GREENSBORO,NC27405     		NONE PC GENERAL SUPPORT 20,000
    WINGATE UNIVERSITY
    CAMPUS BOX 3001
    WINGATE,NC28174     		NONE PC SCHOLARSHIPS 19,000
    GUILFORD EDUCATION ALLIANCE
    902 BONNER DR
    JAMESTOWN,NC27282     		NONE PC GENERAL SUPPORT 15,000
    CLEMSON UNIVERSITY
    105 SIKES HALL BOX 345124
    CLEMSON,SC29634     		NONE PC SCHOLARSHIPS 14,000
    MEREDITH COLLEGE
    3800 HILLSBOROUGH ST
    RALEIGH,NC27607     		NONE PC SCHOLARSHIPS 12,500
    THE GEORGE WASHINGTON UNIVERSITY
    800 21ST STREET NW
    WASHINGTON,DC27752     		NONE PC SCHOLARSHIPS 12,500
    UNVERSITY OF NORTH CAROLINA-WILMINGTON
    601 S COLLEGE RD
    WILMINGTON,NC28403     		NONE PC SCHOLARSHIPS 12,040
    LENIOR-RHYNE COLLEGE
    CAMPUS BOX 7419
    HICKORY,NC28603     		NONE PC SCHOLARSHIPS 12,000
    EMORY & HENRY COLLEGE
    PO BOX 10
    EMORY,VA24327     		NONE PC SCHOLARSHIPS 10,000
    HIGH POINT UNIVERSITY
    833 MONTLIEU AVE
    HIGH POINT,NC27262     		NONE PC SCHOLARSHIPS 10,000
    METHODIST COLLEGE
    5400 RAMSEY STREET
    FAYETTEVILLE,NC28311     		NONE PC SCHOLARSHIPS 10,000
    WINSTON SALEM STATE UNIVERSITY
    601 MLK JR DRIVE
    WINSTON SALEM,NC27110     		NONE PC SCHOLARSHIPS 10,000
    HOLY TRINITY EPISCOPAL CHURCH
    607 N GREENE ST
    GREENSBORO,NC27401     		NONE PC GENERAL SUPPORT 10,000
    SALVATION ARMY OF SURRY COUNTY
    PO BOX 443
    MT AIRY,NC27030     		NONE PC GENERAL SUPPORT 10,000
    THE ROTARY CAROUSEL LLC
    330 S GREEN ST SUITE 304
    GREENSBORO,NC27401     		NONE PC GENERAL SUPPORT 10,000
    CATAWBA COLLEGE
    2300 WEST INNES ST
    SALISBURY,NC28144     		NONE PC SCHOLARSHIPS 9,800
    LONGWOOD UNIVERSITY
    201 HIGH STREET
    FARMVILLE,VA23909     		NONE PC SCHOLARSHIPS 9,000
    UNIVERSITY OF TENNESSEE
    211 STUDENT SERVICES BLDG
    KNOXVILLE,TN37996     		NONE PC SCHOLARSHIPS 9,000
    CAMPBELL UNIVERSITY
    PO BOX 70
    BUIES CREEK,NC25060     		NONE PC SCHOLARSHIPS 7,000
    EAST CAROLINA UNIVERSITY
    SPILMAN BUILDING
    GREENVILLE,NC27858     		NONE PC SCHOLARSHIPS 7,000
    BELMONT ABBEY COLLEGE
    100 BELONT-MT HOLLY RD
    BELMONT,NC28012     		NONE PC SCHOLARSHIPS 5,000
    EMBRY-RIDDLE AERONAUTICAL UNIVERSITY
    600 S CLYDE MORRIS BLVD
    DAYTONA BEACH,FL32114     		NONE PC SCHOLARSHIPS 5,000
    FERRUM COLLEGE
    PO BOX 1000
    FERRUM,VA24088     		NONE PC SCHOLARSHIPS 5,000
    LEES-MCRAE COLLEGE
    PO BOX 128
    BANNER ELK,NC38604     		NONE PC SCHOLARSHIPS 5,000
    MONTREAT COLLEGE
    310 GAITHER CIRCLE
    MONTREAT,NC28757     		NONE PC SCHOLARSHIPS 5,000
    PRESBYTERIAN COLLEGE SCHOOL OF PHARMACY
    PO BOX 493
    CLINTON,SC29325     		NONE PC SCHOLARSHIPS 5,000
    UNIVERSITY OF NORTH CAROLINA-PEMBROKE
    PO BOX 1510
    PEMBROKE,NC28372     		NONE PC SCHOLARSHIPS 5,000
    WEST VIRGINIA UNIVERSITY
    PO BOX 6004
    MORGANTOWN,WV26506     		NONE PC SCHOLARSHIPS 5,000
    UNIVERSITY OF PENNSYLVANIA
    3451 WALNUT STREET
    PHILADELPHIA,PA19104     		NONE PC SCHOLARSHIPS 4,300
    DUKE UNIVERSITY
    PO BOX 90035
    DURHAM,NC27708     		NONE PC SCHOLARSHIPS 4,000
    QUEENS UNIVERSITY OF CHARLOTTE
    1900 SELWYN AVE
    CHARLOTTE,NC28274     		NONE PC SCHOLARSHIPS 2,500
    RADFORD UNIVERSITY
    PO BOX 5922
    RADFORD,VA24142     		NONE PC SCHOLARSHIPS 2,500
    SAVANNAH COLLEGE OF ART & DESIGN
    PO BOX 3146
    SAVANNAH,GA31402     		NONE PC SCHOLARSHIPS 750
    Total .................................bullet 3a 3,136,898
    bApproved for future payment
    CITY OF ASHEBORO - ZOO CITY SPORTS
    PO BOX 1106
    ASHEBORO,NC27204     		NONE GOV GENERAL SUPPORTGENERAL SUPPORT 320,000
    THE ROTARY CAROUSEL LLC
    330 S GREEN ST SUITE 304
    GREENSBORO,NC27401     		NONE PC GENERAL SUPPORT 40,000
    MCCALLIE SCHOOL
    500 DODDS AVE
    CHATTANOOGA,TN37404     		NONE PC SCHOLARSHIPS 500,000
    UNC GREENSBORO - SCHOLARSHIP SUPPORT
    PO BOX 26177
    GREENSBORO,NC27402     		NONE PC SCHOLARSHIPS 480,000
    UNC GREENSBORO - CLASSROOM RENOVATIONS
    PO BOX 26177
    GREENSBORO,NC27402     		NONE PC GENERAL SUPPORT 480,000
    Total .................................bullet 3b 1,820,000
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 1,210  
    4 Dividends and interest from securities.... 525990 412 14 1,588,542  
    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.....   25 14    
    8 Gain or (loss) from sales of assets other than
    inventory ............     		525990 74,728 18 786,421  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 75,165 2,376,173 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    2,451,338
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    4 INVESTMENT IN STATE BONDS FOR CONSISTENT INCOME TO FUND SCHOLARSHIPS
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 56,590 11,318   45,272

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Name of Bond End of Year Book Value End of Year Fair Market Value
    PIMCO FUNDS 2,850,017 2,850,017

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BANK OF NORTH CAROLINA STOCK 20,451 20,451
    VANGUARD DIVIDEND FUND 12,913,022 12,913,022

    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    GS MEZZANINE V LP FMV 23,239 23,239
    HARBINGER DISTRESSED DEBT FUNDS FMV 74,253 74,253
    NEON LIBERTY EMERGING MKTS FMV 6,265,270 6,265,270
    MAVERICK STABLE FUND FMV 6,374,641 6,374,641
    INDUS ASIA PACIFIC FUND FMV 2,386,040 2,386,040
    HOLOWESKO GROBAL FUND FMV 2,836,990 2,836,990
    NEWPORT ASIA INSTITUTIONAL FUND FMV 1,630,527 1,630,527
    DODGE AND COX FMV 1,504,028 1,504,028
    NEUBERGER BERMAN GREATER CHINA FUND FMV 1,699,428 1,699,428
    EDGEWOOD GROWTH FUND FMV 4,487,996 4,487,996
    CANYON REALIZATION FUND FMV 3,048,723 3,048,723
    BREVAN HOWARD FUND FMV 2,872,879 2,872,879
    MORGAN STANLEY RE OFFSHORE GLOBAL FUND FMV 128,381 128,381
    GS WHITEHALL REAL ESTATE FUND FMV 226,732 226,732
    SHEARWATER OFFSHORE SECURITIES FMV 1,802,906 1,802,906
    BOSTWICK COMPOUND OFFSHORE LTD FMV 2,432,299 2,432,299
    CANYON DISTRESSED OPPORTUNITY FUND FMV 583,264 583,264
    KABOUTER INTERNATIONAL FUND FMV 1,393,572 1,393,572
    SELECT EQUITY OFFSHORE FUND FMV 959,051 959,051
    LEXINGTON PARTNERS FMV 1,801,419 1,801,419

    TY 2018 LegalFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 47,554 42,872   4,682


    TY 2018 OtherAssetsSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SAPONA MFG CO 184,115 140,169 140,169
    INCOME TAX RECEIVABLE 33,715 15,346 15,346


    TY 2018 OtherDecreasesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Amount
    UNREALIZED LOSSES 4,800,208


    TY 2018 OtherExpensesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE SUPPLIES 9,501 1,900   7,601
    INSURANCE 9,898 1,980   7,918
    SANTA BARBARA ENVIRONMENTAL EXPENSE 296,906 296,906   0
    DUES AND SUBSCRIPTIONS 3,737 747   2,990


    TY 2018 OtherIncomeSchedule2
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    WHITEHALL PARALLEL GLOBAL UBI   0  
    LEXINGTON K-1   0  
    LCP IX K-1   0  
    DW CATALYST K-1 0 16,648 0
    NEWPORT ASIA K-1 0 -20,568 0
    WHITEHALL K-1 0 -14,595 0
    NORTH HAVEN K-1 0 -174 0
    KABOUTER K-1 0 -17,704 0


    TY 2018 OtherLiabilitiesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Description Beginning of Year - Book Value End of Year - Book Value
    CAPITAL CONTRIBUTION PAYABLE 0 1,750,000


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER PROFESSIONAL FEES 250 50   200
    CONTRACT SERVICES 50,000 10,000   40,000
    INVESTMENT MANAGEMENT 135,219 135,009   0


    TY 2018 TaxesSchedule
    Name:
    THE EDWARD M ARMFIELD SR FOUNDATION
     
    INC
    EIN:
    56-2156876
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INCOME TAXES 20,193 200   0
    PAYROLL TAXES 15,826 3,165   12,661
    FOREIGN INVESTMENT TAXES 0 4,182   0