Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
DAVE & CHERYL DUFFIELD FOUNDATION
 
% CHRIS WATTS
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 6714
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
INCLINE VILLAGE, NV89450
A Employer identification number

47-4279721
B Telephone number (see instructions)

(775) 833-7818
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$213,142,488J 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) 113,043,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 452,424 383,452  
4 Dividends and interest from securities... 2,092,035 2,092,035  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,669,207
b Gross sales price for all assets on line 6a 26,927,181
7 Capital gain net income (from Part IV, line 2)... 2,669,207
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).......   1,383  
12 Total. Add lines 1 through 11........ 118,256,666 5,146,077  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 9,720 0 0 12,711
b Accounting fees (attach schedule)....... Click to see attachment 65,089 58,580 0 9,625
c Other professional fees (attach schedule).... Click to see attachment 889,165 845,868   35,872
17 Interest............... 619     619
18 Taxes (attach schedule) (see instructions)... Click to see attachment 84,321 45,321    
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 6,450 5,900   2,157
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,055,364 955,669 0 60,984
25 Contributions, gifts, grants paid....... 12,161,846 8,519,100
26 Total expenses and disbursements. Add lines 24 and 25 13,217,210 955,669 0 8,580,084
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 105,039,456
b Net investment income (if negative, enter -0-) 4,190,408
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,139,689 460,339 460,339
2 Savings and temporary cash investments......... 1,276,634 1,624,564 1,624,564
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) 4,607,551 Click to see attachment4,852,641 4,852,641
b Investments—corporate stock (attach schedule)....... 64,106,903 Click to see attachment165,381,968 165,381,968
c Investments—corporate bonds (attach schedule)....... 15,396,711 Click to see attachment14,362,318 14,362,318
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 29,888,041 Click to see attachment26,460,658 26,460,658
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) 116,415,529 213,142,488 213,142,488
Liabilities 17 Accounts payable and accrued expenses.......... 6,285 7,560
18 Grants payable.................   3,642,746
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)......... 6,285 3,650,306
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.................. 116,409,242 209,492,182
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)..... 116,409,242 209,492,182
31 Total liabilities and net assets/fund balances (see instructions). 116,415,527 213,142,488
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
116,409,242
2
Enter amount from Part I, line 27a .....................
2
105,039,456
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
-11,956,516
4
Add lines 1, 2, and 3 ..........................
4
209,492,182
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
209,492,182
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 AVAILABLE UPON REQUEST P    
b AVAILABLE UPON REQUEST P    
c AVAILABLE UPON REQUEST P    
d AVAILABLE UPON REQUEST P    
e AVAILABLE UPON REQUEST P    
AVAILABLE UPON REQUEST P    
FORM 6781, PART 1      
FORM 6781, PART 1      
CAPITAL GAIN 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 4,370,327   4,274,065 119,635
b 497,458   508,519 -11,068
c 15,445   1,484 13,961
d 21,743,197   19,169,501 2,573,696
e 290,133   300,369 -10,236
10,623   11,584 -961
85,649   171,298 -85,649
128,473   256,946 -128,473
      198,302
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       96,262
b       -11,061
c       13,961
d       2,573,696
e       -10,236
      -961
      -85,649
      -128,473
       
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,669,207
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 2,782,859 112,337,937 0.024772
2016 328,331 102,059,786 0.003217
2015 0 0 0.0
2014      
2013      
2
Total of line 1, column (d) .....................
2
0.027989
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
0.00933
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
120,398,222
5
Multiply line 4 by line 3......................
5
1,123,315
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
41,904
7
Add lines 5 and 6........................
7
1,165,219
8
Enter qualifying distributions from Part XII, line 4,.............
8
8,580,084
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 41,904
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 41,904
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 41,904
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 80,000
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 80,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 38,096
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet38,096 RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? Click to see attachment....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment....
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.Click to see attachment
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)
    bulletNV
    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 .Click to see attachment
    8b
     
    No
    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 ofbulletCHRIS WATTS Telephone no.bullet (775) 833-7818

    Located atbullet956 LAKESHORE BLVDINCLINE VILLAGENV ZIP+4bullet89451
    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
    CHRIS WATTS PRESIDENT
    2.0     		0 0 0
    PO BOX 6714
    INCLINE VILLAGE,NV89450
    DAVID DUFFIELD Board Member
    1.0     		0 0 0
    PO BOX 6714
    INCLINE VILLAGE,NV89450
    CHERYL DUFFIELD Board Member
    1.0     		0 0 0
    PO BOX 6714
    INCLINE VILLAGE,NV89450
    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
    KPMG LLP TAX SERVICES 65,089
    PO Box 120922
    DALLAS,TX753120922
    MORGAN STANLEY INVESTMENT MANAGEMNT 371,541
    5390 KIETZKE LANE SUITE 200
    RENO,NV89511
    GOLDMAN SACHS & CO LLC INVESTMNT MANAGEMENT 411,190
    PO BOX 581500
    SALT LAKE CITY,UT841581500
    GRADUATE HOTELS INVESTMNT MANAGEMENT 63,137
    133 NORTH JEFFERSON ST 4TH FL
    CHICAGO,IL60661
    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
    119,367,287
    b
    Average of monthly cash balances.......................
    1b
    2,864,410
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    122,231,697
    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
    122,231,697
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,833,475
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    120,398,222
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,019,911
    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
    6,019,911
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    41,904
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    41,904
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,978,007
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    5,978,007
    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
    5,978,007
    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
    8,580,084
    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
    8,580,084
    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
    41,904
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    8,538,180
    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 5,978,007
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 5,386,036
    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...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 8,580,084
    a Applied to 2017, but not more than line 2a 5,386,036
    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..... 3,194,048
    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 ..........     		 
    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 ..........     		2,783,959
    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).)
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    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
    Boys & Girls Club of North Lake Tahoe
    8125 Steelhead Ave
    Kings Beach,NV96143     		N/A PC Founding grant for Incline Village chapter 200,000
    Collings Foundation
    PO Box 248 137 Barton Road
    Stow,MA01775     		N/A PC Restoration and display of aircraft 10,000
    Hawaii Island Humane Society
    78-6767 Mamalahoa Highway
    Holualoa,HI96725     		N/A PC Animal welfare 100,000
    Humane Network
    7250 Pembroke Drive
    Reno,NV89502     		N/A PC Animal welfare 3,623,600
    Incline High School
    499 Village Blvd
    Incline Village,NV89451     		N/A PC Teacher development training We the People class support 25,000
    Incline High School Boosters
    499 Village Blvd
    Incline Village,NV89451     		N/A PC Fundraiser support School sport team support School theater improvement project Student safety program support 53,500
    Lake Tahoe School
    995 Tahoe Blvd
    Incline Village,NV89451     		N/A PC School campus expansion matching grant 3,000,000
    Maui Humane Society
    PO Box 1047
    Puunene,HI96784     		N/A PC Animal welfare 380,000
    Shane Victorino Foundation
    9512 Scenic Sunset Drive
    Las Vegas,NV89117     		N/A PC Fundraising support 3,000
    The Animal Foundation
    655 North Mojave Road
    Las Vegas,NV89101     		N/A PC Animal welfare 1,124,000
    Total .................................bullet 3a 8,519,100
    bApproved for future payment
    Boys & Girls Club of North Lake Tahoe
    8125 Steelhead Ave
    Kings Beach,NV96143     		N/A PC Founding grant for Incline Village chapter 600,000
    Lake Tahoe School
    995 Tahoe Blvd
    Incline Village,NV89451     		N/A PC School campus expansion matching grant 1,713,075
    Incline-Tahoe Parks & Rec Vision Fndtn
    948 Incline Way
    Incline Village,NV89451     		N/A PC Municipal recreational facilities improvement (ball park) 1,149,671
    Maui Humane Society
    PO BOX 1047
    Puunene,HI96784     		N/A PC Animal welfare programs 180,000
    Total .................................bullet 3b 3,642,746
    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 ...........     		    14 452,424  
    4 Dividends and interest from securities....     14 2,092,035  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,669,207  
    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)..   5,213,666  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    5,213,666
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

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

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

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

    47-4279721
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    DAVE & CHERYL DUFFIELD FOUNDATION
          		Employer identification number
    47-4279721
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    DAVID A DUFFIELD TRUST  
    PO BOX 6714
     
    INCLINE VILLAGE, NV89450

    		$ 113,043,000


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    DAVE & CHERYL DUFFIELD FOUNDATION
          		Employer identification number

    47-4279721
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 PUBLICLY TRADED STOCK $ 113,043,000 2018-12-10
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    DAVE & CHERYL DUFFIELD FOUNDATION
          		Employer identification number

    47-4279721
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 65,089 58,580   9,625

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

    TY 2018 DepreciationSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    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 ExplnOfNonFilingWithAGStmt
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Statement:
    THE STATE OF NEVADA DOES NOT REQUIRE THE FOUNDATION TO SUBMIT A COPY TO THE STATE ATTORNEY GENERAL OR ANY DESIGNATE.

    TY 2018 GeneralExplanationAttachment
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Identifier Return Reference Explanation
    FORM 990-PF, PART VII-B, LINE 1A FORM 990-PF, PART VII-B, LINE 1A THE FOUNDATION RECEIVES FREE OFFICE SPACE AND IN-HOUSE ACCOUNTING SERVICES FROM A COMPANY OWNED BY THE BOARD MEMBERS OF THE FOUNDATION. THIS ACT QUALIFIES UNDER THE SPECIAL RULES AND IS NOT AN ACT OF SELF-DEALING.

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 141,969 141,969
    ABBVIE INC 74,533 74,533
    AIR LEASE CORP 71,089 71,089
    ANHEUSER-BUSCH INBEV 0 0
    APPLE INC 2.1% 125,129 125,129
    APPLE INC 2.45% 116,779 116,779
    ASIA MTN 99,812 99,812
    AT&T INC. 0 0
    BANK OF AMERICA CORP 101,121 101,121
    BERKSHIRE HATHAWAY FINANCE 124,301 124,301
    BERKSHIRE HATHAWAY INC 148,467 148,467
    BLACKROCK INC 0 0
    BOEING COMPANY 198,075 198,075
    BP CAPITAL MARKETS PLC 50,099 50,099
    CITIGROUP INC 76,854 76,854
    CITIGROUP INC 122,648 122,648
    CITIZENS FINANCIAL GROUP INC 73,894 73,894
    COCA COLA COMPANY 207,718 207,718
    CROWN CASTLE INTERNATIONAL COR 53,131 53,131
    CVS HEALTH CORPORATION 263,047 263,047
    DELPHI CORPORATION 0 0
    DISCOVER BANK 0 0
    DOMINION RESOURCES INC-SER D 93,225 93,225
    DR PEPPER SNAPPLE GROUP INC 71,378 71,378
    DTE ENERGY CO 271,392 271,392
    DUKE ENERGY FLORIDA, LLC 196,467 196,467
    EIB 99,468 99,468
    ENTERPRISE PRODUCTS OPER 50,088 50,088
    ESTEE LAUDER CO INC 147,547 147,547
    FHLB 1.125% 436,940 436,940
    FHLB 1.875% 196,723 196,723
    FHLB SYST 1.375% 174,149 174,149
    FHLB SYST 3.0% 553,705 553,705
    FIDELITY NATIONAL INFORM 73,064 73,064
    FORD MOTOR COMPANY 0 0
    GENERAL ELECTRIC CAPITAL CORP 0 0
    GENERAL ELECTRIC CO 75,717 75,717
    GOLDMAN SACHS GROUP INC 74,991 74,991
    GS FINANCIAL SQUARE GOV FND 0 0
    GS HIGH YIELD FUND (GGMPX) 3,616,925 3,616,925
    HOME DEPOT INC 2.625% 272,717 272,717
    IADB MTN 390,553 390,553
    IBM CREDIT CORP 249,874 249,874
    IBRD MTN 147,136 147,136
    ING GROEP NV 436,336 436,336
    INTL BK RECON & DEVELOP MTN 335,709 335,709
    JPMORGAN CHASE & CO 101,677 101,677
    JPMORGAN CHASE & CO 2.295% 98,431 98,431
    JPMORGAN CHASE & CO 3.51275% 151,016 151,016
    KFW 2.0% 311,460 311,460
    KROGER CO 2% 277,412 277,412
    MASTERCARD INC 3.5% 253,181 253,181
    MCDONALD'S CORP 0 0
    MEAD JOHNSON NUTRITION CO 153,246 153,246
    MICROSOFT CORP 104,555 104,555
    MICROSOFT CORPORATION 2% 121,176 121,176
    MORGAN STANLEY MTN 3.125% 93,800 93,800
    MPLX LP 4.875% 281,048 281,048
    NBCUNIVERSAL MEDIA, LLC 207,041 207,041
    OMNICOM GROUP INC. 3.6% 120,584 120,584
    ORACLE CORP 3.25% 169,511 169,511
    PUBLIC SERVICE ENTERPRIS 240,716 240,716
    REPUBLIC SERVICES INC 168,394 168,394
    ROPER TECHNOLOGIES INC 49,046 49,046
    ROYAL BANK OF CANADA MTN 124,872 124,872
    RYDER SYSTEM INC MTN 198,338 198,338
    SHELL INTERNATIONAL FINANCE BV 76,095 76,095
    SIMON PROPERTY GROUP, L.P. 302,468 302,468
    STANLEY BLACK & DECKER 0 0
    TORONTO-DOMINION BANK MTN 176,404 176,404
    VERIZON COMMUNICATIONS INC 223,008 223,008
    WELLS FARGO & COMPANY 2.1% 122,228 122,228
    WELLS FARGO & COMPANY FXD 75,189 75,189
    WHIRLPOOL CORPORATION MTN 148,652 148,652

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3M COMPANY (MMM) 28,752 28,752
    A G C O CORP (AGCO) 3,730 3,730
    A O SMITH CORP (AOS) 6,832 6,832
    AAC TECHN HLDG INC (AACAY) 16,952 16,952
    AAR CORP CMN (AIR) 23,375 23,375
    ABB LTD (ABB) 114,079 114,079
    ABBVIE INC COM (ABBV) 58,633 58,633
    ABM INDUSTRIES INC (ABM) 8,092 8,092
    ACADIA HEALTHCARE CO INC (ACHC 41,959 41,959
    ACCENTURE PLC IRELAND CL A 54,853 54,853
    ACCO BRANDS CORP (ACCO) 10,340 10,340
    ACUITY BRANDS INC (AYI) 15,863 15,863
    ADDUS HOMECARE (ADUS) 7,195 7,195
    ADIDAS AG (ADDYY) 32,137 32,137
    ADOBE INC (ADBE) 253,841 253,841
    AES CORP (AES) 0 0
    AIA GROUP LTD SPON ADR (AAGIY) 140,135 140,135
    AIR LIQUIDE ADR (AIQUY) 96,756 96,756
    AKBANK TURK ANONIM SIRKETI 10,202 10,202
    AKZO NOBEL NV ADR (AKZOY) 101,692 101,692
    ALAMO GROUP INC (ALG) 19,717 19,717
    ALASKA AIR GROUP INC (ALK) 19,107 19,107
    ALCOA CORP (AA) 0 0
    ALFA LAVAL AB-UNSPONS ADR 43,559 43,559
    ALIGN TECHNOLOGY (ALGN) 27,645 27,645
    ALLEGIANT TRAVEL CO (ALGT) 17,338 17,338
    ALLEGION PUB LTD CO (ALLE) 0 0
    ALLERGAN PLC SHS (AGN) 26,331 26,331
    ALLIANZ SE ADS (AZSEY) 115,040 115,040
    ALLIED MOTION TECH INC (AMOT) 0 0
    ALLSCRIPTS HLTHCR SOLU INC 10,623 10,623
    ALLY FINANCIAL INC (ALLY) 21,550 21,550
    ALPHABET INC CL A (GOOGL) 99,577 99,577
    ALPHABET INC CL C (GOOG) 208,253 208,253
    AMBEV S A SPONSORED ADR (ABEV) 70,815 70,815
    AMEDISYS INC (AMED) 25,530 25,530
    AMER OUTDOOR BRANDS CORP (AOCB 7,356 7,356
    AMERICA MOVIL SA DE CV ADR 57,356 57,356
    AMERIPRISE FINCL INC (AMP) 64,501 64,501
    AMERIS BANCORP (ABCB) 26,051 26,051
    AMERISAFE, INC (AMSF) 25,907 25,907
    AMERN AXLE & MFG HLDGS INC 0 0
    AMGEN INC (AMGN) 103,759 103,759
    AMNEAL PHARMA INC (AMRX) 14,071 14,071
    ANALOG DEVICES INC (ADI) 206,936 206,936
    ANHUI CONCH CEMENT ADR (AHCHY) 36,921 36,921
    ANSYS INC (ANSS) 79,761 79,761
    APPLE INC (AAPL) 40,697 40,697
    APTIV PLC (APTV) 45,747 45,747
    ARAMARK HLDGS CORP (ARMK) 29,086 29,086
    ARCBEST CORP (ARCB) 0 0
    ARCH COAL INC CL A (ARCH) 11,536 11,536
    ARCHER DANIELS MIDLAND (ADM) 0 0
    ARCOSA INC (ACA) 9,110 9,110
    ARMOUR RESIDENTIAL REIT INC 3,690 3,690
    ARMSTRONG FLOORING INC (AFI) 9,200 9,200
    ARMSTRONG WORLD INDS INC (AWI) 100,121 100,121
    ARYZTA AG ZUERICH (ARZTY) 0 0
    ASM PACIFIC (ASMVY) 31,154 31,154
    ASPEN PHARMA HLD (APNHY) 19,556 19,556
    ASSURANT INC (AIZ) 8,228 8,228
    ASSURED GUARANTY LTD (AGO) 13,513 13,513
    ASTRAZENECA PLC ADS (AZN) 89,405 89,405
    ATLAS COPCO (ATLKY) 83,635 83,635
    ATRICURE INC (ATRC) 9,792 9,792
    AUTOMATIC DATA PROCESSING (ADP 73,034 73,034
    AVAYA HLDGS CORP (AVYA) 22,612 22,612
    AVERY DENNISON CORP (AVY) 42,849 42,849
    AVIVA PLC ADR (AVVIY) 72,169 72,169
    BAIDU INC ADS (BIDU) 236,631 236,631
    BALCHEM CORP (BCPC) 24,097 24,097
    BALFOUR BEATTY PLC SPON (BAFYY 17,706 17,706
    BANCO BILBAO VIZ ARG SA ADS 127,394 127,394
    BANCO DO BRASIL SA SPON ADR 77,379 77,379
    BANCO MACRO S.A. SPONS ADR 24,984 24,984
    BANCORPSOUTH INC (BXS) 3,424 3,424
    BANK NOVA SCOTIA LNK S&P500 427,050 427,050
    BANK OF AMERICA CORP (BAC) 104,153 104,153
    BARCLAYS PLC ADR (BCS) 113,937 113,937
    BARNES & NOBLE EDUC INC (BNED) 5,462 5,462
    BASF SE SP ADR (BASFY) 115,601 115,601
    BAXTER INTL INC (BAX) 87,475 87,475
    BAYER AG SPON ADR (BAYRY) 92,945 92,945
    BAYERISCHE MOTOREN WERKE 37,677 37,677
    BB SEGURIDADE PARTICIPACOES 36,639 36,639
    BBA AVIATION PLC ADR (BBAVY) 0 0
    BECTON DICKINSON & CO (BDX) 55,203 55,203
    BERKSHIRE HILLS BANCORP INC 0 0
    BERRY GLOBAL GROUP INC (BERY) 0 0
    BGC PARTNERS INC CL A (BGCP) 0 0
    BHP BILLITON PLC SPONS ADR 32,046 32,046
    BIDVEST GROUP LTD SPONS ADR 28,562 28,562
    BIG LOTS INC OHIO (BIG) 8,040 8,040
    BIOGEN INC COM (BIIB) 32,800 32,800
    BIOTELEMETRY INC COM (BEAT) 21,021 21,021
    BIOVERATIV INC (BIVV) 0 0
    BLACK KNIGHT INC (BKI) 14,780 14,780
    BLACKBAUD, INC CMN (BLKB) 19,185 19,185
    BLACKHAWK NETWORK HLDGS (HAWK) 0 0
    BNP PARIBAS LNK S&P500 464,772 464,772
    BNP PARIBAS SP ADR REPSTG 82,046 82,046
    BOFA FIN LLC LNK S&P500 258,832 258,832
    BOK FINANCIAL CORP NEW (BOKF) 46,418 46,418
    BOOKING HOLDINGS INC (BKNG) 37,893 37,893
    BOYD GAMING CORP (BYD) 0 0
    BP PLC ADS (BP) 89,453 89,453
    BRIGHTHOUSE FINL INC (BHF) 14,082 14,082
    BRITISH AMER TOB SPON ADR (BTI 112,657 112,657
    BROADRIDGE FIN SOLU.LLC (BR) 31,570 31,570
    BRUKER CORPORATION (BRKR) 16,374 16,374
    BUCKLE INC(THE) (BKE) 9,225 9,225
    BURLINGTON STORES INC (BURL) 23,424 23,424
    BWX TECHNOLOGIES INC COM (BWXT 14,451 14,451
    C&J ENERGY SVCS INC NEW (CJ) 0 0
    CADENCE DESIGN SYSTEM (CDNS) 26,045 26,045
    CAESARS ENTMT CORP (CZR) 0 0
    CAIXABANK UNSPON ADR (CAIXY) 32,210 32,210
    CALAVO GROWERS INC (CVGW) 6,931 6,931
    CAMBREX CORP (CBM) 15,972 15,972
    CANADIAN IMPER BNK COMM LNK S& 258,954 258,954
    CANADIAN NATL RAILWAY CO (CNI) 87,746 87,746
    CANNAE HLDGS INC (CNNE) 36,894 36,894
    CANTEL MEDICAL CORP (CMD) 32,386 32,386
    CAPITAL ONE FINANCIAL CORP 76,270 76,270
    CARNIVAL PLC (CUK) 54,821 54,821
    CARS COM INC (CARS) 12,728 12,728
    CATALENT INC (CTLT) 30,276 30,276
    CATHAY GENERAL BANCORP (CATY) 26,254 26,254
    CBOE GLOBAL MARKETS INC (CBOE) 0 0
    CDN IMPL BK COMMERCE (CM) 29,891 29,891
    CDN PACIFIC RY LTD NEW (CP) 14,387 14,387
    CELGENE CORP (CELG) 0 0
    CENTENNIAL RESOURCE DEV (CDEV) 6,248 6,248
    CENTRAL GARDEN & PET CO (CENT) 13,849 13,849
    CENTRAL GARDEN & PET CO (CENTA 22,438 22,438
    CF INDUSTRIES HOLDINGS INC (CF 27,150 27,150
    CHARLES RIVER LABS INTL INC 19,127 19,127
    CHARLES SCHWAB NEW (SCHW) 43,814 43,814
    CHECK POINT SOFTWARE TECH LTD 120,101 120,101
    CHEMED CORPORATION (CHE) 15,014 15,014
    CHINA CONSTRUCTION BANK CORP 105,510 105,510
    CHINA MOBILE LTD (CHL) 225,888 225,888
    CHINA SHENHUA ENERGY (CSUAY) 34,586 34,586
    CHOICE HOTELS INTL INC NEW 7,874 7,874
    CHUBB LTD (CB) 72,470 72,470
    CHURCH & DWIGHT CO INC (CHD) 89,171 89,171
    CHURCHILL DOWNS INC (CHDN) 18,296 18,296
    CHUYS HLDGS INC CMN (CHUY) 6,830 6,830
    CIELO SA SPONSORED ADR NEW 27,579 27,579
    CIMPRESS N V SHS EURO (CMPR) 15,927 15,927
    CIRRUS LOGIC INC (CRUS) 17,751 17,751
    CISCO SYSTEMS INC (CSCO) 200,705 200,705
    CITIGROUP INC LNK S&P500 218,907 218,907
    CITIGROUP INC LNK S&P500 185,885 185,885
    CLICKS GROUP LTD SPONS ADR 31,641 31,641
    CNOOC LTD ADS (CEO) 47,260 47,260
    CNX RESOURC CORP (CNX) 0 0
    COCA COLA CO (KO) 371,271 371,271
    COEUR D'ALENE MINES (CDE) 6,549 6,549
    COGENT COMM GROUP (CCOI) 7,595 7,595
    COHEN & STEERS INC (CNS) 17,846 17,846
    COLUMBIA FINL INC (CLBK) 15,657 15,657
    COMMERCEHUB INC-SERIES C(CHUB) 0 0
    COMMERCIAL INTL BNK LTD SP ADR 32,528 32,528
    COMMVAULT SYSTEMS INC (CVLT) 22,631 22,631
    COMPAGNIE FIN RICHEMONTAG 72,846 72,846
    COMPANHIA DE SANEMENTO BASI 0 0
    COMPASS MINERALS INTL INC (CMP 8,963 8,963
    CONCHO RES INC (CXO) 16,446 16,446
    CONDUENT INC COM (CNDT) 13,298 13,298
    CONSOL ENRGY INC (CEIX) 16,426 16,426
    COOPER TIRE & RUBBER (CTB) 11,283 11,283
    CORSITE REALTY CORP (COR) 16,661 16,661
    CORVEL CORP (CRVL) 22,343 22,343
    COSTCO WHOLESALE CORP NEW 30,760 30,760
    COUPA SOFTWARE INC (COUP) 8,612 8,612
    COUSINS PROPERTIES INC GA (CUZ 0 0
    COWEN INC CL A (COWN) 0 0
    CSL LTD (CSLLY) 0 0
    CULLEN FROST BANKERS INC (CFR) 48,455 48,455
    CYRUSONE INC (CONE) 20,782 20,782
    DANAHER CORPORATION (DHR) 125,910 125,910
    DASSAULT SYSTEMS SA ADS(DASTY) 81,679 81,679
    DBS GROUP HOLDINGS LTD SP 96,639 96,639
    DECKER OUTDOOR CORP (DECK) 33,139 33,139
    DEUTSCHE POST AG (DPSGY) 61,356 61,356
    DEUTSCHE XTRACKERS MSCI EAFE 0 0
    DIAGEO PLC SPON ADR NEW (DEO) 0 0
    DIAMONDBACK ENERGY INC (FANG) 17,428 17,428
    DINE BRANDS GLOBAL INC (DIN) 45,455 45,455
    DIPLOMAT PHARMACY INC (DPLO) 14,604 14,604
    DOLLAR GEN CORP NEW COM (DG) 74,791 74,791
    DORMAN PRODUCTS, INC (DORM) 11,343 11,343
    DOWDUPONT INC (DWDP) 0 0
    DREYFUS INTERNATIONAL STOCK 1,195,981 1,195,981
    DRILL-QUIP INC (DRQ) 10,691 10,691
    DSW INC CL A (DSW) 0 0
    E*TRADE FINANCIAL CORP (ETFC) 0 0
    EAGLE BANCORP INC MD (EGBN) 3,556 3,556
    EAST JAPAN RY CO ADR (EJPRY) 79,213 79,213
    EAST WEST BANCORP (EWBC) 57,416 57,416
    EASTGROUP PROPERTIES INC (EGP) 8,164 8,164
    EBAY INC (EBAY) 58,975 58,975
    ECOLAB INC (ECL) 59,235 59,235
    EDGEWELL PERS CARE CO (EPC) 9,599 9,599
    ELDORADO RESORTS INC COM (ERI) 22,704 22,704
    ELECTRONIC ARTS (EA) 75,596 75,596
    EMCOR GROUP INC (EME) 0 0
    ENCANA CORP (ECA) 46,124 46,124
    ENCORE CAP GRP INC (ECPG) 0 0
    ENERGIZER HLDGS INC (ENR) 25,916 25,916
    ENGIE SPONS ADR (ENGIY) 29,471 29,471
    ENN ENERGY HOLDINGS (XNGSY) 33,222 33,222
    EPAM SYS INC (EPAM) 42,344 42,344
    EPIROC AKTIEBOLAG ADR (EPOKY) 16,890 16,890
    EQT CORPORATION COM NEW (EQT) 0 0
    EQUITY LIFESTYLE PROPERTIES 48,856 48,856
    EURONET WORLDWIDE INC (EEFT) 11,671 11,671
    EVERCORE PARTNERS INC CLASS A 0 0
    EXLSERVICE HOLDINGS INC (EXLS) 18,417 18,417
    FACEBOOK INC CL-A (FB) 77,867 77,867
    FANUC CORPORATION UNSP (FANUY) 149,862 149,862
    FARMERS NATL BANC CORP (FMNB) 0 0
    FEDEX CORP (FDX) 39,849 39,849
    FIRST AMERICAN FINL CORP (FAF) 13,615 13,615
    FIRST FINL BANKSHARES INC 8,365 8,365
    FIRST INTERSTATE BANC SYSTEM 3,400 3,400
    FIRST REPUBLIC BANK/CA (FRC) 0 0
    FIVE BELOW (FIVE) 57,811 57,811
    FOMENTO ECON MEX (FMX) 37,260 37,260
    FORTINET INC (FTNT) 15,706 15,706
    FORUM ENERGY TECH INC (FET) 3,077 3,077
    FOX FACTORY HLDG CORP (FOXF) 3,827 3,827
    FRESENIUS MED CARE AG&CO (FMS) 0 0
    FRONTIER COMM CORP (FTR) 4,186 4,186
    FUCHS PETROLUB AG UNSPON ADR 38,424 38,424
    GARDNER DENVER HOLDINGS, INC 0 0
    GARTNER INC (IT) 45,255 45,255
    GCI LIBERTY INC CL A (GLIBA) 44,124 44,124
    GCP APPLIED TECHNOLOGIES INC 20,327 20,327
    GENESCO INC (GCO) 7,841 7,841
    GENL DYNAMICS CORP (GD) 82,378 82,378
    GILDAN ACTIVEWEAR INC (GIL) 60,052 60,052
    GIVAUDAN SA ADR (GVDNY) 38,320 38,320
    GLACIER BANCORP INC (GBCI) 31,696 31,696
    GLAXOSMITHKLINE PLC ADS (GSK) 37,293 37,293
    GLOBUS MEDICAL INC CMN CLASS A 40,597 40,597
    GOODYEAR TIRE & RUBBER (GT) 7,021 7,021
    GRAND CANYON EDUC INC (LOPE) 54,319 54,319
    GREEN PLAINS RENEW NRGY (GPRE) 2,779 2,779
    GREENBRIER COS INC (GBX) 5,812 5,812
    GREENHILL & CO INC (GHL) 12,420 12,420
    GRIFOLS SA ADR (GRFS) 36,316 36,316
    GRUPO FINANCIERO BANORTE 42,695 42,695
    GS MLP ENERGY INFRASTR (GMNPX) 1,064,941 1,064,941
    GUESS INC (GES) 11,507 11,507
    HALLIBURTON CO (HAL) 48,588 48,588
    HALYARD HEALTH INC (HYH) 0 0
    HAMLTON BCH BRNDS HLD (HBB) 15,882 15,882
    HANCOCK HLDG CO (HBHC) 0 0
    HARBORONE BANCORP INC (HONE) 0 0
    HAWAIIAN ELECTRIC IND (HE) 8,972 8,972
    HDFC BANK LTD ADR (HDB) 46,512 46,512
    HEALTHCARE REALTY TRUST INCORP 8,504 8,504
    HEALTHCARE SVCS GROUP INC 17,077 17,077
    HEARTLAND EXPRESS INC (HTLD) 19,947 19,947
    HELEN OF TROY LTD (HELE) 20,333 20,333
    HELMERICH & PAYNE (HP) 15,772 15,772
    HENGAN INTL GROUP CO (HEGIY) 30,076 30,076
    HENRY SCHEIN INC (HSIC) 73,809 73,809
    HERITAGE INS HLDGS INC COM 0 0
    HILLROM HOLDINGS (HRC) 24,174 24,174
    HITACHI 10 COM NEW ADR (HTHIY) 0 0
    HLTH CARE SVC GRP (HCSG) 41,064 41,064
    HOLLYFRONTIER CORP COM (HFC) 19,988 19,988
    HOME DEPOT INC (HD) 87,285 87,285
    HOUSTON WIRE & CABLE CO (HWCC) 0 0
    HSBC HOLDINGS PLC SPON ADR NEW 46,578 46,578
    HUBSPOT INC (HUBS) 38,599 38,599
    HUNTSMAN CORP (HUN) 0 0
    IBERIABANK CORP (IBKC) 16,819 16,819
    ICF INTERNATIONAL INC ICFI) 24,864 24,864
    ICICI BANK LTD (IBN) 53,590 53,590
    ICU MEDICAL INC (ICUI) 53,963 53,963
    IDACORP INC (IDA) 25,126 25,126
    IMPERIAL LOGISTICS LTD ADR 11,473 11,473
    INDEPENDENCE RLTY TR INC COM 24,153 24,153
    INFINEON TECHNOLOGIES AG 100,984 100,984
    INFOSYS LIMITED ADR (INFY) 63,289 63,289
    ING GROEP NV ADR (ING) 41,915 41,915
    INGEVITY CORP (NGVT) 0 0
    INGREDION INC COM (INGR) 0 0
    INSTALLED BLDG PRODS INC (IBP) 15,262 15,262
    INTEGRA LIFESCIENCES CRP NEW 7,712 7,712
    IRHYTHM TECH INC (IRTC) 7,226 7,226
    IRON MTN INC NEW COM (IRM) 15,816 15,816
    ISHARES CORE S&P 500 INDEX FUN 4,065,263 4,065,263
    ISHARES CORE US AGGR (AGG) 4,855,838 4,855,838
    ISHARES TIPS BOND ETF (TIP) 1,415,417 1,415,417
    ISTAR INC (STAR) 0 0
    ITAU UNIBANCO MULTIPLE ADR 74,427 74,427
    J ALEXANDERS HLDGS INC COM 15,884 15,884
    JACOBS ENGINEERING GROUP INC 0 0
    JAPAN AIRLS LTD ADR (JAPSY) 66,813 66,813
    JBG SMITH PPTYS (JBGS) 18,937 18,937
    JGC CORP UNSPONSORED ADR 34,555 34,555
    JOHCM INTERNATIONAL SELECT 1,141,763 1,141,763
    JOHN BEAN TECH CORP (JBT) 14,147 14,147
    JOHNSON CTLS INTL PLC (JCI) 77,950 77,950
    JONES LANG LASALLE INC (JLL) 0 0
    JPMORGAN CHASE & CO (JPM) 71,263 71,263
    KASIKORNBANK PUB CO LTD (KPCPY 27,131 27,131
    KB FIN GRP INC SONS ADR (KB) 67,084 67,084
    KDDI CORP UNSPON ADR (KDDIY) 103,249 103,249
    KEARNY FINL CORP MD COM (KRNY) 32,268 32,268
    KENNAMETAL INC (KMT) 55,711 55,711
    KIMBALL ELECTRONICS INC (KE) 11,803 11,803
    KIMBALL INTL INC CL B (KBAL) 11,366 11,366
    KIMBERLY CLARK CORP (KMB) 0 0
    KIMBERLY CLARK SPON ADR(KCDMY) 28,207 28,207
    KLX ENERGY SERVICS HLDG INC 15,125 15,125
    KOC HLDG AS UNSPON ADR (KHOLY) 25,582 25,582
    KOMATSU LTD SPON ADR NEW(KMTU) 31,168 31,168
    KROGER CO (KR) 71,528 71,528
    KUBOTA CP ADR (KUBTY) 32,337 32,337
    L OREAL CO ADR (LRLCY) 96,206 96,206
    LABORATORY CP AMER HLDGS (LH) 46,627 46,627
    LAMAR ADVERTISING CO NEW CL A 0 0
    LAMB WESTON HLDGS INC COM (LW) 16,257 16,257
    LANCASTER COLONY CRP (LANC) 3,007 3,007
    LANDSTAR SYSTEM INC (LSTR) 0 0
    LAZARD EMERGING MARKETS EQUITY 802,780 802,780
    LAZARD: DYNAMIC EQUITY 0 0
    LEGG MASON INC (LM) 0 0
    LEIDOS HLDGS INC (LDOS) 22,459 22,459
    LENDINGTREE INC NEW COM (TREE) 0 0
    LENNAR CORP CL B (LEN'B) 1,034 1,034
    LENNAR CORPORATION (LEN) 70,548 70,548
    LGI HOMES, INC. (LGIH) 0 0
    LHC GRP (LHCG) 22,343 22,343
    LIBERTY EXPEDIA HOLD SER A 0 0
    LIBERTY GLOBAL PLC LILAC SHS A 0 0
    LIBERTY INTERACTIVE CORP 0 0
    LIBERTY INTERACTIVE CORP QVC A 0 0
    LIBERTY MEDIA C SER C SIRIUSXM 31,581 31,581
    LIBERTY MEDIA CORP S-C BRAVES 23,471 23,471
    LIFE HEALTHCARE GRP HLDGS LTD 18,491 18,491
    LINDE PLC (LIN) 68,970 68,970
    LITHIA MOTORS INC CL-A (LAD) 27,479 27,479
    LIVE NATION ENTERTAINMENT INC 11,377 11,377
    LLOYDS BANKING GROUP PLC (LYG) 47,068 47,068
    LOCALIZA RENT A CAR SA SPON 0 0
    LONZA GROUP AG ZUERICH ADR 66,794 66,794
    LOWES COMPANIES INC (LOW) 74,812 74,812
    LULULEMON ATHLETICA INC (LULU) 0 0
    LVMH MOET HENNESSY LOUIS VUITT 61,792 61,792
    MACOM TECH SOLUT (MTSI) 8,706 8,706
    MANHATTAN ASSOC INC (MANH) 13,262 13,262
    MANULIFE FINANCIAL CORP (MFC) 94,534 94,534
    MARCHEX INC CL B (MCHX) 6,909 6,909
    MARINEMAX INC COM FL (HZO) 0 0
    MARTIN MARIETTA MATERIALS (MLM 83,529 83,529
    MARVELL TECH GROUP LTD (MRVL) 0 0
    MASCO CORP (MAS) 15,059 15,059
    MASONITE INTL CORP NEW COM 5,873 5,873
    MASTERCARD INC CL A (MA) 90,175 90,175
    MATADOR RES CO (MTDR) 24,351 24,351
    MC CORMICK AND CO NON VOTING 64,050 64,050
    MEDIDATA SOLUTN INC (MDSO) 28,991 28,991
    MEDTRONIC PLC SHS (MDT) 305,461 305,461
    MERIDIAN BANCORP INC (EBSB) 11,555 11,555
    MERITAGE HOME CORPORATION (MTH 7,711 7,711
    MGIC INVT CORP (MTG) 0 0
    MICRO FCS INT (MFGP) 54,711 54,711
    MICROCHIP TECHNOLOGY INC(MCHP) 101,983 101,983
    MICROSOFT CORP (MSFT) 280,943 280,943
    MICROSTRATEGY INC (MSTR) 7,921 7,921
    MIDSTATES PETE CO INC COM PAR 9,583 9,583
    MITSUBISHI EST ADR (MITEY) 0 0
    MITSUBISHI UFJ FINCL GRP ADS 42,754 42,754
    MOBILE MINI INC (MINI) 13,970 13,970
    MOBILE TELESYSTEMS PJSC (MBT) 35,196 35,196
    MOELIS & COMPANY (MC) 8,011 8,011
    MOLSON COORS BREWING CO (TAP) 47,848 47,848
    MONDELEZ INTL INC COM (MDLZ) 65,689 65,689
    MONOLITHIC PWR SYSTEMS INC 28,133 28,133
    MONOTARO CO LTD ADR (MONOY) 59,422 59,422
    MOTOROLA SOLUTIONS INC (MSI) 100,465 100,465
    MOTUS HOLDINGS LIMITED ADR 14,744 14,744
    MSC INDL DIRECT CO CLASS A 0 0
    MTGE INVT CORP (MTGE) 0 0
    NASPERS LIMITED ADS (NPSNY) 87,320 87,320
    NATIONAL HEALTH INV INC (NHI) 22,197 22,197
    NATL FUEL GAS CO (NFG) 84,703 84,703
    NATL INSTRUMS CP (NATI) 19,468 19,468
    NEDBANK GRP LTD SPON ADR(NDBKY 44,243 44,243
    NEOGEN CP (NEOG) 9,291 9,291
    NESTLE SPON ADR REP REG SHR 194,871 194,871
    NETEASE.COM INC ADS (NTES) 96,266 96,266
    NEW YORK MORTGAGE TRUST INC 0 0
    NIKE INC B (NKE) 68,802 68,802
    NOMAD HLDGS LTD (NOMD) 30,798 30,798
    NORTHWESTERN CORP CMN (NEW) 29,423 29,423
    NOVARTIS AG ADR (NVS) 154,286 154,286
    NOVOZYMES A/S (NVZMY) 34,726 34,726
    NRG YIELD INC CL C (NYLD) 0 0
    NUTANIX INC (NTNX) 3,452 3,452
    NVENT ELECTRIC PLC (NVT) 18,597 18,597
    NVIDIA CORPORATION (NVDA) 28,035 28,035
    ONE GAS INC (OGS) 10,985 10,985
    ORACLE CORP (ORCL) 48,220 48,220
    ORCHID ISLAND CAPITAL INC (ORC 0 0
    O'REILLY AUTOMOTIVE INC NEW 101,233 101,233
    OSHKOSH CORP (OSK) 87,612 87,612
    OXFORD IND INC (OXM) 18,826 18,826
    PACIFIC PREMIER BANCORP (PPBI) 20,824 20,824
    PACKAGING CORP AMER (PKG) 0 0
    PACWEST BANCORP (PACW) 11,482 11,482
    PARAMOUNT GROUP INC (PGRE) 10,375 10,375
    PARK HOTEL RSRTS (PK) 50,791 50,791
    PARK24 CO LTD SPONSORED(PKCOY) 33,053 33,053
    PARKER HANNIFIN CORP (PH) 4,772 4,772
    PATRICK IND INC (PATK) 14,213 14,213
    PATTERN NRGY GRP INC (PEGI) 8,323 8,323
    PATTERSON -UTI ENERGY INC 8,487 8,487
    PAYLOCITY HLDNG CORP (PCTY) 24,204 24,204
    PAYPAL HLDGS INC COM (PYPL) 169,610 169,610
    PBF ENERGY INC (PBF) 0 0
    PEBBLEBROOK HOTEL TRUST (PEB) 19,079 19,079
    PENTAIR PLC (PNR) 18,777 18,777
    PEPSICO INC NC (PEP) 53,804 53,804
    PERF FOOD GRP CO (PFGC) 35,562 35,562
    PERKIN ELMER INC (PKI) 18,067 18,067
    PERSPECTA INC (PRSP) 23,987 23,987
    PHILLIPS 66 COM (PSX) 92,353 92,353
    PINNACLE ENTMT INC (PNK) 0 0
    PIONEER NATURAL RESOURCES CO 53,660 53,660
    PJSC GAZPROM SPON ADR (OGZPY) 29,336 29,336
    PJSC LUKOIL SPONSORED ADR 57,928 57,928
    PLATFORM SPECIALTY PRODS CORP 36,289 36,289
    PLDT INC ADR (PHI) 16,741 16,741
    POINTS INTL LTD COM NEW (PCOM) 7,570 7,570
    POLYONE CORP CMN (POL) 24,850 24,850
    POPULAR INC COM NEW (BPOP) 0 0
    POTLATCH DELTIC CORP NEW (PCH) 20,471 20,471
    POWER INTEGRATIONS INC (POWI) 24,880 24,880
    PPG INDUSTRIES INC (PPG) 95,892 95,892
    PRA GROUP INC (PRAA) 12,429 12,429
    PRICELINE GRP INC COM NEW 0 0
    PRIMORIS SERVICES CORP (PRIM) 21,493 21,493
    PROASSURANCE CORP (PRA) 10,963 10,963
    PROGRESS SOFTWARE (PRGS) 13,486 13,486
    PROOFPOINT INC (PFPT) 18,857 18,857
    PROPETRO HOLDING CORP (PUMP) 16,398 16,398
    PROSPERITY BANCSHARES (PB) 11,339 11,339
    PRUDENTIAL PLC ADR (PUK) 127,827 127,827
    PS BUSINESS PARKS INC CALIF 5,371 5,371
    PT ASTRA INTERNATIONAL TBK ADR 51,786 51,786
    PT BK MANDIRI PERSERO TBK UNSP 66,544 66,544
    PT SEMEN GRESIK PERSERO ADR 34,976 34,976
    PT TELEKOMUNIKASI INDONESIA 44,662 44,662
    PULTE GROUP INC (PHM) 19,960 19,960
    QIAGEN NV ORD (QGEN) 14,366 14,366
    QTS RLTY TR INC COM (QTS) 31,931 31,931
    QURATE RETAIL INC (QRTEA) 33,262 33,262
    RALPH LAUREN CORP (RL) 11,691 11,691
    RAYONIER ADVANCED MATLS INC 18,329 18,329
    RBC BEARINGS INC (ROLL) 30,153 30,153
    RE MAX HLDGS INC CL A (RMAX) 2,952 2,952
    RED ELECTRICA CORPORACION SA 0 0
    REDFIN CORP (RDFN) 6,984 6,984
    REGENERON PHARM (REGN) 54,531 54,531
    REINSURANCE GROUP OF AMERICA 4,067 4,067
    RENAISSANCE RE HOLDINGS LTD 0 0
    RESIDEO TECHNOLOGIES INC (REZI 18,721 18,721
    RESMED INC (RMD) 0 0
    RITCHIE BROS AUCTIONEERS INC 31,738 31,738
    ROCHE HOLDINGS ADR (RHHBY) 204,413 204,413
    ROGERS CORP (ROG) 15,552 15,552
    ROLLINS INC (ROL) 10,397 10,397
    ROLLS ROYCE HOLDINGS PLC 76,635 76,635
    ROYAL DUTCH SHELL PLC CL B 236,943 236,943
    ROYAL GOLD INC (RGLD) 22,355 22,355
    S&P GLOBAL INC (SPGI) 70,865 70,865
    SABRA HEALTH CARE REIT INC 12,986 12,986
    SANLAM LTD ADR (SLLDY) 25,855 25,855
    SAP AG (SAP) 194,521 194,521
    SASOL LTD SPON ADR (SSL) 31,516 31,516
    SBERBANK RUSSIA SPONSORED ADR 67,240 67,240
    SCHLUMBERGER LTD (SLB) 38,858 38,858
    SCHNEIDER ELEC SA UNSP ADR 0 0
    SCHNITZER STEEL (SCHN) 3,405 3,405
    SEALED AIR CP NEW (SEE) 20,347 20,347
    SEATTLE GENETICS INC (SGEN) 12,239 12,239
    SHINHAN FINANCIAL GROUP (SHG) 43,795 43,795
    SHIRE PLC ADR (SHPG) 0 0
    SHOPRITE HLDGS LTD SPONSORED 25,994 25,994
    SIGNET JEWELERS LIMITED (SIG) 0 0
    SILGAN HOLDINGS INC (SLGN) 25,155 25,155
    SILICON LABS INC (SLAB) 29,554 29,554
    SIMULATIONS PLUS INC (SLP) 16,159 16,159
    SINOPHARM GROUP CO LTD ADR 0 0
    SK TELECOM CO LTD (SKM) 104,359 104,359
    SKYLINE CHAMPION CORP (SKY) 9,402 9,402
    SKYWEST INC (SKYW) 0 0
    SKYWORKS SOLUTIONS INC (SWKS) 85,786 85,786
    SMALL CAP CORE 0 0
    SONOVA HLDG AG UNSP ADR (SONVY 48,187 48,187
    SONY CORP ADR 1974 NEW (SNE) 74,351 74,351
    SOUTH JERSEY IND INC (SJI) 23,380 23,380
    SPDR S&P 500 ETF TRUST (SPY) 7,847,316 7,847,316
    SPIRIT AEROSYSTEMS HLD (SPR) 0 0
    SPIRIT AIRLINES INC (SAVE) 15,812 15,812
    SPS COMMERCE INC COM (SPSC) 5,355 5,355
    SPX CP (SPXC) 29,803 29,803
    SQUARE INC CLASS A (SQ) 0 0
    SS&C TECHNOLOGIES HLDGS INC 36,088 36,088
    SSE PLC SPON ADR (SSEZY) 89,298 89,298
    STAG INDUSTRIAL INC (STAG) 25,498 25,498
    STANDARD BANK GROUP LTD SPON 36,444 36,444
    STARBUCKS CORP WASHINGTON 107,355 107,355
    STARTEK INC (SRT) 5,406 5,406
    STATE BANK FINANCIAL CORP 0 0
    STERIS PLC (STE) 24,148 24,148
    STIFEL FINANCIAL CORP (SF) 21,124 21,124
    SUMITOMO MITSUI FINL GROUP INC 47,451 47,451
    SUN COMMUNITIES INC (SUI) 48,007 48,007
    SUN HYDRAULICS INC 18,288 18,288
    SUNCOKE ENERGY INC COM (SXC) 12,218 12,218
    SYMRISE AG UNSPONS ADR (SYIEY) 49,906 49,906
    SYNEOS HEALTH INC (SYNH) 30,496 30,496
    SYNOPSYS INC (SNPS) 32,769 32,769
    SYNTEL INC (SYNT) 0 0
    SYSMEX CORP UNSPON ADR (SSMXY) 37,691 37,691
    T ROWE PRICE INSTL EMRG MKTS M 789,591 789,591
    TAIWAN SMCNDCTR MFG CO (TSM) 239,251 239,251
    TAKEDA PHARMACEUTICAL CO LTD 126,907 126,907
    TEMENOS AG SPONSORED ADR 44,023 44,023
    TEMPUR-PEDIC INT'L INC (TPX) 3,312 3,312
    TENARIS S.A. (TS) 17,163 17,163
    TERADYNE INC (TER) 13,713 13,713
    TERNIUM SA ADR (TX) 27,913 27,913
    TESSCO TECHNOLOGIES INC (TESS) 11,364 11,364
    TEXAS CAP BNCSHS INC (TCBI) 20,181 20,181
    TEXAS ROADHOUSE INC (TXRH) 49,014 49,014
    TOLL BROTHERS (TOL) 7,969 7,969
    TORCHMARK CORP (TMK) 13,788 13,788
    TORONTO DOM BANK LNKE S&P 500 130,610 130,610
    TRANSUNION (TRU) 0 0
    TREEHOUSE FOODS INC (THS) 25,862 25,862
    TRI POINTE GROUP INC (TPH) 0 0
    TRIBUNE PUBG CO (TPCO) 17,520 17,520
    TRIMBLE INC (TRMB) 22,148 22,148
    TRIPADVISOR INC COM (TRIP) 17,692 17,692
    TRONOX LTD (TROX) 0 0
    TRUSTMARK CP (TRMK) 3,611 3,611
    TUPPERWARE BRANDS CORP CMN 8,708 8,708
    TURK TELEKOMUNIKASYON AS ADR 0 0
    TURKCELL ILETISM HIZM AS NEW 0 0
    TURKIYE GARANTI BANKASI A 0 0
    TWITTER INC (TWTR) 68,717 68,717
    TWO HARBORS INVESTMENT CORP 10,503 10,503
    U S PHYSICAL THERAPY INC 7,574 7,574
    UBS AG LNK S&P 500 (BPUSPX27) 255,275 255,275
    UBS AG LNK S&P 500 (BPUSPX33) 224,761 224,761
    UNICREDIT SPA-ADR (UNCRY) 124,972 124,972
    UNILEVER NV NY SH NEW (UN) 86,241 86,241
    UNILEVER PLC (NEW) ADS (UL) 70,015 70,015
    UNITED BANKSHARES INC W V CMN 14,939 14,939
    UNITED NATURAL FOODS INC (UNFI 0 0
    UNITED STS STL CP (NEW) (X) 0 0
    UNITED THERAPEUTICS CORP (UTHR 7,841 7,841
    UNIVERSAL CP VA (UVV) 11,209 11,209
    UNIVERSAL FOREST PRODUCTS INC 18,302 18,302
    US ECOLOGY INC (ECOL) 25,192 25,192
    US EQUITY BUFFERED BETA 0 0
    UTAH MED PRODS (UTMD) 14,373 14,373
    VALVOLINE INC COM (VVV) 0 0
    VANGUARD FTSE DEVELOPED MKTS 2,004,513 2,004,513
    VANGUARD SHORT-TERM CORP (VCSH 968,093 968,093
    VAREX IMAGING CORP (VREX) 7,057 7,057
    VARIAN MEDICAL SYS INC (VAR) 17,450 17,450
    VARONIS SYSTEMS INC (VRNS) 8,993 8,993
    VERA BRADLEY INC COM (VRA) 12,161 12,161
    VERIZON COMMUNICATIONS (VZ) 0 0
    VERSUM MATERIALS (VSM) 30,381 30,381
    VIRTUSA CORP (VRTU) 15,460 15,460
    VISA INC CL A (V) 85,497 85,497
    VISTEON CORP (VC) 0 0
    VISTRA ENERGY CORP COM (VSTE) 39,829 39,829
    VODACOM GROUP LIMITED (VDMCY) 31,812 31,812
    VODAFONE GROUP PLC (VOD) 58,958 58,958
    VOLKSWAGEN AG ADR (VWAGY) 170,102 170,102
    VOLKSWAGEN AG SPON ADR (VLKAY) 0 0
    VOYA FINL INC (VOYA) 39,297 39,297
    VULCAN MATERIALS CO CMN (VMC) 106,803 106,803
    WABCO HLDGS INC (WBC) 0 0
    WADDELL&REED FINCL INC (WDR) 7,503 7,503
    WALGREENS BOOTS ALLIANCE INC 119,373 119,373
    WALT DISNEY CO HLDG CO (DIS) 51,864 51,864
    WASH REAL EST INV TR MARYLAND 0 0
    WATTS WTR TECH INC A (WTS) 7,873 7,873
    WD 40 CO CMN (WDFC) 20,159 20,159
    WEBSTER FINANCIAL CORP (WBS) 25,877 25,877
    WEIBO CORPORATION (WB) 53,230 53,230
    WEICHAI PWR CO LTD UNSPON ADR 71,240 71,240
    WELLS FARGO & COMPANY LNK S&P 493,283 493,283
    WESCO INTL INC (WCC) 0 0
    WEST PHARMACEUTICAL SVCS INC 39,604 39,604
    WESTINGHOUSE AIR BRAKE TECHNOL 44,258 44,258
    WESTROCK CO COM (WRK) 0 0
    WILLIAMS SONOMA (WSM) 0 0
    WINGSTOP INC (WING) 25,162 25,162
    WOLVERINE WORLD WIDE (WWW) 20,940 20,940
    WOOLWORTHS HLDGS LTD (WLWHY) 27,079 27,079
    WORKDAY INC CL A 111,776,000 111,776,000
    WPP PLC SPON NEW ADR (WPPGY) 0 0
    WPX ENERGY INC (WPX) 0 0
    WRIGHT MED GROUP N V (WMGI) 28,445 28,445
    WYNDHAM DESTINATIONS INC (WYND 10,143 10,143
    WYNDHAM HOTELS & RESORTS INC 36,387 36,387
    WYNDHAM WORLDWIDE CORP (WYN) 0 0
    XTRACKERS MSCI EAFE HEDGED EQU 3,109,176 3,109,176
    XYLEM INC COM (XYL) 0 0
    YANDEX N.V. (YNDX) 37,196 37,196
    YEXT INC (YEXT) 3,341 3,341
    YPF SOCIEDAD ADS REP 1 CL-D SH 48,030 48,030
    ZIONS BANCORP (ZION) 16,418 16,418
    ZOETIS INC CLASS-A (ZTS) 97,943 97,943
    ZURICH INSURANCE GRP LTD ADR 0 0

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    US Government Securities - End of Year Book Value:

    4,852,641
    US Government Securities - End of Year Fair Market Value:

    4,852,641
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2018 InvestmentsOtherSchedule2
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ABS OFFSHORE SPC GLOBAL   2,166,860 2,166,860
    BLACKROCK LOW DUR BD INV INST   2,294,255 2,294,255
    CENTER COAST MLP FOCUS I (CCCN   1,454,191 1,454,191
    DOUBLELINE TOTAL RETURN I (DBL   956,072 956,072
    E V INCOME FUND BOSTON I EIBIX   0 0
    GRADUATE HOTELS REAL ESTATE FU   750,000 750,000
    GS TACTICAL TILT OVERLAY FUND   1,855,104 1,855,104
    GS UNCOV US EQUITY YIELD ENHAN   0 0
    HEDGE FUND OPPORT LTD CLASS A   6,565,507 6,565,507
    MATTHEWS ASIAN JAPAN INV MJFOX   1,092,206 1,092,206
    MSIF ULTRA-SHORT INCOME INST (   0 0
    PINEHURST INSTIT LTD CL I   2,269,508 2,269,508
    PMF VII (CAYMAN) LP   151,919 151,919
    PRIVATE EQUITY MGRS (2018) OFF   69,936 69,936
    RIEF LLC - SERIES A   1,315,022 1,315,022
    UNITED MEXICAN STATES   0 0
    WESTERN ASSET MACRO OPPRT I   3,062,395 3,062,395
    WESTERN ASSET SMASH SERIES C   362,298 362,298
    WESTERN ASSET SMASH SERIES EC   976,843 976,843
    WESTERN ASSET SMASH SERIES M   1,118,542 1,118,542

    TY 2018 LegalFeesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    GRANT ADVISORY LEGAL FEES 9,720     12,711


    TY 2018 OtherExpensesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INSURANCE 5,899 5,899    
    DUES & SUBSCRIPTIONS 1,679     1,679
    POSTAGE AND DELIVERY 1 1    
    FILING FEES 130     130
    OFFICE EXPENSES 348     348
    PENALTIES & SETTLEMENTS -3,568      
    NONDEDUCTIBLE EXPENSES 1,961      


    TY 2018 OtherIncomeSchedule2
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PASSTHROUGH INCOME FROM SCHEDULE K-1   1,383  


    TY 2018 OtherIncreasesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Description Amount
    UNREALIZED GAINS/LOSS ON INVESTMENTS -11,956,516


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 845,868 845,868    
    PROG DEVEL CONSULTING FEES 43,297     35,872


    TY 2018 TaxesSchedule
    Name:
    DAVE & CHERYL DUFFIELD FOUNDATION
    EIN:
    47-4279721
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAXES 39,000      
    FOREIGN TAXES 45,321 45,321