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 02-01-2018 , and ending 01-31-2019
Name of foundation
SELBY AND RICHARD MCRAE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 13070
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
JACKSON, MS39236
A Employer identification number

64-6026795
B Telephone number (see instructions)

(601) 366-9371
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$35,807,892J 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) 9,046,235
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,432 1,432  
4 Dividends and interest from securities... 351,011 350,997  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 992,724
b Gross sales price for all assets on line 6a 3,312,248
7 Capital gain net income (from Part IV, line 2)... 955,705
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 -40,948 -40,336  
12 Total. Add lines 1 through 11........ 10,350,454 1,267,798  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 38,273 9,568   28,705
14 Other employee salaries and wages......        
15 Pension plans, employee benefits....... 7,066 1,280   5,786
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 17,865 0   17,865
c Other professional fees (attach schedule).... Click to see attachment 96,299 96,299   0
17 Interest............... 9,069 9,069   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 46,902 9,752   8,151
19 Depreciation (attach schedule) and depletion... Click to see attachment 24,355 6,089  
20 Occupancy.............. 23,756 5,939   17,817
21 Travel, conferences, and meetings....... 209 0   209
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 206,552 194,125   8,772
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 470,346 332,121   87,305
25 Contributions, gifts, grants paid....... 3,290,057 3,290,055
26 Total expenses and disbursements. Add lines 24 and 25 3,760,403 332,121   3,377,360
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 6,590,051
b Net investment income (if negative, enter -0-) 935,677
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 620,337 1,736,255 1,736,255
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 0 Click to see attachment962,474 962,474
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 27,410,390 Click to see attachment32,568,387 32,568,387
14 Land, buildings, and equipment: basis bullet587,768
Less: accumulated depreciation (attach schedule) bullet46,992 592,631 Click to see attachment540,776 540,776
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 28,623,358 35,807,892 35,807,892
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 28,623,358 35,807,892
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)..... 28,623,358 35,807,892
31 Total liabilities and net assets/fund balances (see instructions). 28,623,358 35,807,892
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
28,623,358
2
Enter amount from Part I, line 27a .....................
2
6,590,051
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
594,483
4
Add lines 1, 2, and 3 ..........................
4
35,807,892
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
35,807,892
Form 990-PF (2018)
Form 990-PF (2018)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES - CS BECKER      
b PUBLICLY TRADED SECURITIES - CS INVESTMENTS      
c PUBLICLY TRADED SECURITIES - CS INVESTMENTS      
d SEC 1231 / CAPITAL GAINS FROM PASSTHROUGHS P    
e EUCLIDSR PARTNERS LP FINAL PAYOUT P    
AA DELWARE LP FINAL PAYOUT P    
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 69,179   79,329 -10,150
b 224,362   224,344 18
c 2,028,620   1,974,548 54,072
d 604,079   51,519 552,560
e 17,985   13,803 4,182
14     14
355,009     355,009
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       -10,150
b       18
c       54,072
d       552,560
e       4,182
      14
      355,009
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 2 955,705
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 2,986,292 25,792,409 0.115782
2016 1,861,778 23,976,876 0.077649
2015 2,684,097 24,574,267 0.109224
2014 1,762,400 24,243,065 0.072697
2013 3,364,609 23,449,904 0.143481
2
Total of line 1, column (d) .....................
2
0.518833
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
0.103767
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
28,023,740
5
Multiply line 4 by line 3......................
5
2,907,939
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
9,357
7
Add lines 5 and 6........................
7
2,917,296
8
Enter qualifying distributions from Part XII, line 4,.............
8
3,377,360
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 9,357
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 9,357
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 9,357
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 25,131
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 15,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 40,131
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 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 30,774
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet30,774 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)
    bulletMS
    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 ofbulletRENEE D HOLM CPA Telephone no.bullet (601) 366-9371

    Located atbullet1200 MEADOWBROOK RD 16JACKSONMS ZIP+4bullet39206
    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
     
     
    ........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
    VAUGHAN W MCRAE PRESIDENT
    0.50     		0 0 0
    PO BOX 13070
    JACKSON,MS39236
    SUSAN MCRAE SHANOR VICE-PRESIDENT
    0.50     		0 0 0
    PO BOX 13070
    JACKSON,MS39236
    RICHARD D MCRAE JR SECRETARY
    0.50     		0 0 0
    PO BOX 13070
    JACKSON,MS39236
    RENEE D HOLM EXECUTIVE DIRECTOR
    16.00     		38,273 0 1,759
    PO BOX 13070
    JACKSON,MS39236
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (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
    ARNERICH MASSENA AND ASSOCIATES INVESTMENT ADVISORS 80,736
    2045 NE MARTIN LUTHER KING JR BLVD
    PORTLAND,OR97212
    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
    27,274,384
    b
    Average of monthly cash balances.......................
    1b
    588,345
    c
    Fair market value of all other assets (see instructions)................
    1c
    587,768
    d
    Total (add lines 1a, b, and c).........................
    1d
    28,450,497
    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
    28,450,497
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    426,757
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    28,023,740
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,401,187
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,401,187
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    9,357
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
    8,821
    c
    Add lines 2a and 2b............................
    2c
    18,178
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,383,009
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,383,009
    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
    1,383,009
    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
    3,377,360
    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
    3,377,360
    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
    9,357
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    3,368,003
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 1,383,009
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013...... 2,259,419
    b From 2014...... 569,485
    c From 2015...... 1,498,886
    d From 2016...... 659,391
    e From 2017...... 1,748,629
    fTotal of lines 3a through e........ 6,735,810
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 3,377,360
    a Applied to 2017, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2018 distributable amount..... 1,383,009
    e Remaining amount distributed out of corpus 1,994,351
    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 8,730,161
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		2,259,419
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		6,470,742
    10 Analysis of line 9:
    a Excess from 2014.... 569,485
    b Excess from 2015.... 1,498,886
    c Excess from 2016.... 659,391
    d Excess from 2017.... 1,748,629
    e Excess from 2018.... 1,994,351
    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
    AMERICAN RED CROSS
    4127 WESTSIDE DR
    TUPELO,MS38801     		NONE PC PROVIDE EMERGENCY SERVICES TO VICTIMS OF NATURAL DISASTERS 20,000
    ASHEVILLE CITY SCHOOLS FOUNDATION
    PO BOX 3196
    ASHEVILLE,NC28802     		NONE PC IN REAL LIFE AFTER SCHOOL PROGRAM 25,000
    BADDOUR CENTER THE
    3297 HIGHWAY 51 SOUTH
    SENATOBIA,MS38668     		NONE PC TRIP SPONSORSHIP FOR MENTALLY CHALLENGED ADULTS 16,000
    BETHLEHEM CENTER THE
    PO BOX 3522
    JACKSON,MS39207     		NONE PC MINISTRY TO INTER-CITY FAMILIES & CHILDREN 32,000
    CAMP TWIN LAKES INC
    600 MEANS STREET SUITE 110
    ATLANTA,GA30318     		NONE PC CAMP SPONSORSHIP FOR MENTALLY CHALLENGED CHILDREN 20,000
    CENTER FOR VIOLENCE PREVENTION THE
    PO BOX 6279
    PEARL,MS39288     		NONE PC MINISTRY TO ABUSED LADIES & CHILDREN 12,000
    COMMUNITY FOUNDATION OF GREATER JACKSON
    525 EAST CAPITOL ST STE 5B
    JACKSON,MS39201     		NONE PC MS BOOK FESTIVAL 25,000
    CURREY INGRAM ACADEMY
    6544 MURRAY LANE
    BRENTWOOD,TN37027     		NONE PC GENERAL OPERATING FUND 200,000
    DONATIONS FROM PASSTHROUGH ENTITIES
    VARIOUS
    VARIOUS,VA99999     		NONE PC UNKNOWN 37
    ELIADA HOMES
    2 COMPTON DR
    ASHEVILLE,NC28806     		NONE PC GENERAL OPERATING FUND 10,000
    EMORY UNIVERSITY SCHOOL OF LAW
    1762 CLIFTON ROAD SUITE 1400
    ATLANTA,GA30322     		NONE PC VOLUNTEER LAW CLINIC FOR VETERANS 25,000
    EUDORA WELTY FOUNDATION
    PO BOX 55685
    JACKSON,MS39296     		NONE PC PRESERVATION OF EUDORA WELTY PROPERTY 25,000
    EXPONENT PHILANTHROPY
    1720 N STREET NW
    WASHINGTON,DC20036     		NONE PC ENHANCE PROGRAMS FOR SMALL FOUNDATIONS 750
    FONDREN RENAISSANCE FOUNDATION
    3318 NORTH STATE STREET
    JACKSON,MS39216     		NONE PC COMMUNITY PRESERVATION AND EVENTS 1,000
    FRENCH CAMP ACADEMY
    1 FINE PLACE
    FRENCH CAMP,MS39745     		NONE PC ANNUAL FUND 10,000
    FRIENDS OF CHILDREN'S HOSPITAL
    3900 LAKELAND DR STE 205
    FLOWOOD,MS39232     		NONE PC ENCHANTED EVENING GALA SPONSORSHIP 25,000
    GALLOWAY UNITED METHODIST CHURCH
    305 N CONGRESS STREET
    JACKSON,MS39201     		NONE PC AFRICA UNIVERSITY SCHOLARSHIP FUND 40,000
    GALLOWAY UNITED METHODIST CHURCH
    305 N CONGRESS STREET
    JACKSON,MS39201     		NONE PC GENERAL CHURCH BUDGET 52,000
    GATEWAY RESCUE MISSION
    PO BOX 3763
    JACKSON,MS39207     		NONE PC ASSISTANCE TO HOMELESS PEOPLES 12,000
    HABITAT FOR HUMANITY
    PO BOX 55634
    JACKSON,MS39296     		NONE PC HOUSE BUILD 60,000
    HINDS COMMUNITY COLLEGE FOUNDATION
    PO BOX 1100
    RAYMOND,MS39154     		NONE PC SCHOLARSHIP FUND 15,000
    HOSPICE MINISTRIES
    450 TOWNE CENTER BLVD
    RIDGELAND,MS39157     		NONE PC BUILDING RENOVATION AND SUITE FURNISHINGS 60,000
    JACKSON ROTARY CLUB CHARITIES
    PO BOX 9933
    JACKSON,MS39286     		NONE PC COLLEGE SCHOLARSHIPS 16,000
    JIM HILL HIGH SCHOOL SCIENCE DEPARTMENT
    2185 FORTUNE ST
    JACKSON,MS39204     		NONE NC SCIENCE DEPARTMENT SUPPLIES 1,437
    LAKE JUNALUSKA ASSEMBLY INC
    PO BOX 67
    LAKE JUNALUSKA,NC28745     		NONE PC ANNUAL FUND 10,000
    LESS DONATIONS RELATED TO UBTI FROM PASSTHROUGH ENTITIES
    VARIOUS
    VARIOUS,VA99999     		NONE PC UNKNOWN -2
    MCCALLIE SCHOOL
    500 DODDS AVENUE
    CHATTANOOGA,TN37404     		NONE PC SCHOLARSHIP FUND & SCIENCE TECHNOLOGY BUILDING 100,000
    MILLSAPS COLLEGE
    1701 NORTH STATE STREET
    JACKSON,MS39210     		NONE PC CHRISTIAN CENTER RENOVATIONS 943,333
    MISSISSIPPI COLLEGE
    PO BOX 4005
    CLINTON,MS39058     		NONE PC ENDOWMENT FOR DEAN OF SCHOOL OF LAW 140,000
    MISSISSIPPI GIRLCHOIR
    3318 NORTH STATE STREET
    JACKSON,MS39216     		NONE PC CHOIR TOUR SPONSORSHIP 1,000
    MISSISSIPPI MUSEUM OF ART
    201 E PASCAGOULA ST
    JACKSON,MS39201     		NONE PC JEFFREY GIBSON: LIKE HAMMER ART EXHIBIT 62,500
    MISSISSIPPI STATE MEDICAL ASSOCIATION FOUNDATION
    PO BOX 2548
    RIDGELAND,MS39158     		NONE PC UNIV OF MS MEDICAL SCHOOL RURAL PHYSICIANS SCHOLARSHIP 30,000
    MISSISSIPPI SYMPHONY ORCHESTRA
    PO BOX 2052
    JACKSON,MS39225     		NONE PC CONCERT SPONSORSHIP 90,000
    MURRAH HIGH SCHOOL MUSTANG CONCERT CHOIR
    1400 MURRAH DRIVE
    JACKSON,MS39202     		NONE NC CHOIR CONCERT TOUR 50,000
    NASHVILLE ZOO
    3777 NOLANSVILLE PIKE
    NASHVILLE,TN37211     		NONE PC ANDEAN BEAR VIEWING EXHIBIT 100,000
    NEW STAGE THEATRE
    1100 CARLISLE STREET
    JACKSON,MS39202     		NONE PC CONCERT SPONSORSHIP & EDUCATION PROGRAM SUPPORT 50,000
    OPERATION SHOESTRING
    PO BOX 11223
    JACKSON,MS39283     		NONE PC MINISTRY TO INTER-CITY FAMILIES & CHILDREN 74,000
    RON CLARK ACADEMY
    228 MARGARET STREET
    ATLANTA,GA30315     		NONE PC TEACHER TRAINING 18,000
    SOCCER IN THE STREETS
    3845 GREEN INDUSTRIAL WAY
    ATLANTA,GA30341     		NONE PC ANTI-CRIME AND DRUG PROGRAMS IN INNER CITY 5,000
    SOCIETY OF ST ANDREW
    PO BOX 5362
    JACKSON,MS39296     		NONE PC HELP IN COLLECTION OF FOOD FOR THE HUNGRY 10,000
    SOCIETY RIDGE MISSIONARY BAPTIST CHURCH
    3506 GREENS CROSSING RD
    JACKSON,MS39209     		NONE PC CHURCH BUILDING FUND 10,000
    ST ANDREW'S EPISCOPAL SCHOOL
    370 OLD AGENCY ROAD
    RIDGELAND,MS39157     		NONE PC SCIENCE BUILDING AND ANNUAL CAPITAL CAMPAIGN 50,000
    ST DOMINIC HEALTH SERVICES FOUNDATION
    969 LAKELAND DRIVE
    JACKSON,MS39216     		NONE PC EMERGENCY ROOM RENOVATIONS 50,000
    STEWPOT COMMUNITY SERVICES
    1100 WEST CAPITOL STREET
    JACKSON,MS39203     		NONE PC ASSISTANCE TO HOMELESS PEOPLES 120,000
    TOUGALOO COLLEGE
    500 W COUNTY LINE RD
    TOUGALOO,MS39174     		NONE PC SCHOLARSHIP FUND 100,000
    UNIVERSITY OF MS MEDICAL CENTER
    2500 NORTH STATE STREET
    JACKSON,MS39216     		NONE PC CHILDREN'S HOSPITAL CONSTRUCTION 100,000
    UNIVERSITY OF NORTH CAROLINA ASHEVILLE FOUNDATION INC
    1 UNIVERSITY HEIGHTS
    ASHEVILLE,NC28804     		NONE PC UNRESTRICTED FUNDS FOR UNIVERSITY 250,000
    UNIVERSITY OF THE SOUTH
    735 UNIVERSITY AVENUE
    SEWANEE,TN37383     		NONE PC UNIVERSITY EXCELLENCE FUND 100,000
    UNIVERSITY PRESS OF MISSISSIPPI
    3825 RIDGEWOOD ROAD
    JACKSON,MS39211     		NONE PC INTERNSHIP SPONSORSHIP 5,000
    USA INTERNATIONAL BALLET COMPETITION
    PO BOX 3696
    JACKSON,MS39207     		NONE PC COMPETITION SPONSORSHIP 6,000
    VERNER CENTER FOR EARLY LEARNING
    2586 RICEVILLE RD
    ASHEVILLE,NC28805     		NONE PC MOTHERS ON THE MOVE PROGRAM & SCHOLARSHIPS 30,000
    VOICE OF CALVARY MINISTRIES THE
    1065 PECAN PARK CIRCLE
    JACKSON,MS39209     		NONE PC MINISTRY TO INTER-CITY FAMILIES & CHILDREN 12,000
    WILSON RESEARCH FOUNDATION
    1350 E WOODROW WILSON
    JACKSON,MS39216     		NONE PC ANNUAL FUND 5,000
    YMCA OF WESTERN NORTH CAROLINA
    53 ASHELAND AVE STE 105
    ASHEVILLE,NC28801     		NONE PC ANNUAL FUND & CAMP WATIA 65,000
    Total .................................bullet 3a 3,290,055
    bApproved for future payment
    CURREY INGRAM ACADEMY
    6544 MURRAY LANE
    BRENTWOOD,TN37027     		NONE PC ITS POSSIBLE FUND 300,000
    FRENCH CAMP ACADEMY
    1 FINE PLACE
    FRENCH CAMP,MS39745     		NONE PC STUDENT WORK PROGRAM 20,000
    MISSISSIPPI MUSEUM OF ART
    201 E PASCAGOULA ST
    JACKSON,MS39201     		NONE PC JEFFREY GIBSON: LIKE HAMMER ART EXHIBIT 187,500
    RON CLARK ACADEMY
    228 MARGARET STREET
    ATLANTA,GA30315     		NONE PC SCHOLARSHIP FUND 54,000
    TOUGALOO COLLEGE
    500 W COUNTY LINE RD
    TOUGALOO,MS39174     		NONE PC SCHOLARSHIP FUND 300,000
    Total .................................bullet 3b 861,500
    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 1,432  
    4 Dividends and interest from securities.... 900000 14 14 350,997  
    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 ............     		900000 51,519 18 955,705  
    9 Net income or (loss) from special events:     01 -14,500  
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aPASSTHROUGH INCOME & DISTRIBUTION IN EXCESS OF BASIS (ABOVE)     		900000 -612 14 -40,336  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 50,921 1,253,298 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,304,219
    (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
    SELBY AND RICHARD MCRAE FOUNDATION
     
    Employer identification number

    64-6026795
    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
    SELBY AND RICHARD MCRAE FOUNDATION
          		Employer identification number
    64-6026795
    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
    RICHARD D MCRAE CHARITABLE LEAD ANNUITY TRUST
     
    PO BOX 13070
     
    JACKSON, MS39236

    		$ 993,556


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    ESTATE OF RICHARD D MCRAE
     
    PO BOX 13070
     
    JACKSON, MS39236

    		$ 7,735,146


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    ESTATE OF RICHARD D MCRAE
     
    PO BOX 13070
     
    JACKSON, MS39236

    		$ 317,533


    (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
    SELBY AND RICHARD MCRAE FOUNDATION
          		Employer identification number

    64-6026795
    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
    2
    		 VARIOUS PUBLICLY TRADED MUTUAL FUNDS (FMV AT DATE OF DEATH) $ 5,792,668 2018-12-04
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 VARIOUS CORPORATE STOCKS (FMV AT DATE OF DEATH) $ 872,110 2018-12-06
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    2
    		 INTEREST IN PALO ALTO HEALTHCARE FUND II, LP (FMV AT DATE OF DEATH PLUS LP ACTIVITY SINCE DEATH) $ 1,070,368 2019-01-01
    (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
    SELBY AND RICHARD MCRAE FOUNDATION
          		Employer identification number

    64-6026795
    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:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING AND LEGAL 17,865 0   17,865

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

    TY 2018 DepreciationSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    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
    OFFICE CONDOMINIUM 2016-09-03 515,000 17,062 SL 39.000000000000 13,205 0    
    ARTWORK 2017-03-22 28,950 2,068 SL 7.000000000000 4,136 0    
    2005 LEXUS 2017-03-22 12,000 1,200 SL 5.000000000000 2,400 0    
    OFFICE EQUIPMENT 2017-03-22 1,200 120 SL 5.000000000000 240 0    
    OFFICE FURNISHINGS 2017-03-22 10,023 716 SL 7.000000000000 1,432 0    
    OFFICE FURNITURE 2017-03-22 20,595 1,471 SL 7.000000000000 2,942 0    

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

    TY 2018 GainLossSaleOtherAssetsSch
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    1998 BENTLEY BROOKLANDS 2016-09 DONATED 2018-02   13,000     0 -14,500  

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CHARLES SCHWAB BECKER MANAGED ACCOUNT 962,474 962,474

    TY 2018 InvestmentsOtherSchedule2
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BRANDYWINE GLOBAL UNCONSTRAINED BD FUND FMV 810,754 810,754
    METROPOLITAN WEST HIGH YIELD BOND FUND FMV 146,850 146,850
    VANGUARD SHORT TERM INVESTMENT GRADE FUND FMV 226,914 226,914
    ARTISAN INTERNATIONAL VALUE FUND FMV 1,374,341 1,374,341
    CHAMPLAIN MID CAP FUND FMV 1,022,088 1,022,088
    GRANDEUR PEAK EMERGING MARKETS OPPORTUNY FUND FMV 491,854 491,854
    GRANDEUR PEAK INTERNATIONAL OPP FUND FMV 190,117 190,117
    JOHCM INTERNATIONAL SELECT FUND FMV 785,152 785,152
    JOHCM INTERNATIONAL SMALL CAP EQUITY FUND FMV 280,141 280,141
    SEAFARER OVERSEAS GROWTH & INCOME FUND FMV 433,325 433,325
    SILK INVESTMENT NEW HORIZONS FUND FMV 370,715 370,715
    VANGUARD HEALTH CARE FUND FMV 324,348 324,348
    VANGUARD MID CAP INDEX FUND FMV 535,196 535,196
    VANGUARD 500 INDEX FUND FMV 1,989,381 1,989,381
    VULCAN VALUE PARTNERS FUND FMV 843,383 843,383
    WCM FOCUSED INTERNATIONAL GROWTH FUND FMV 1,083,691 1,083,691
    WESTWOOD INCOME OPPORTUNITY FUND FMV 499,419 499,419
    WESTWOOD SMALL CAP VALUE FUND FMV 255,914 255,914
    3 X 5 SPECIAL OPPORTUNITY FUND, LP FMV 1,390,451 1,390,451
    3 X 5 RIVERVEST FUND II, LP FMV 3,490,374 3,490,374
    3 X 5 PARTNERS FUND III, LP FMV 112,500 112,500
    ABBOTT CAPITAL PRIVATE EQUITY FUND III, LP FMV 8,311 8,311
    AACP DEBT INVESTORS, LP FMV 121,541 121,541
    AACP TAX EXEMPT INVESTORS II, LP FMV 815,640 815,640
    AACP TAX EXEMPT INVESTORS IV, LP FMV 508,977 508,977
    ADP INVESTORS II, LLC FMV 844,474 844,474
    BERENS AFRICAN DEVELOPMENT PARTNERS LP FMV 413,814 413,814
    BERENS GLOBAL FUND FMV 1,139,039 1,139,039
    BPEA LIFE SCIENCES FUND I, LP FMV 225,331 225,331
    CASTINE OFFSHORE FUND LTD FMV 627,365 627,365
    CONCOURSE CAPITAL OFFSHORE FUND LP FMV 539,782 539,782
    CORDILLERA INVESTMENT FUND II, LP FMV 13,366 13,366
    FISHPEOPLE INVESTORS, LLC FMV 138,453 138,453
    KEYHAVEN CAPITAL PARTNERS II FMV 94,831 94,831
    MORRISON STREET DEBT OPPORTUNITY FUND FMV 810,572 810,572
    MUDRICK DISTRESSED OPPORTUNITY FUND (OFFSHORE) FMV 1,219,674 1,219,674
    OAK HILL CAPITAL PARTNERS II FMV 34,952 34,952
    OAK HILL CAPITAL PARTNERS III FMV 461,047 461,047
    OAK HILL CAPITAL PARTNERS IV FMV 241,721 241,721
    OHA EUROPEAN STRATEGIC OPPORTUNITY FUND, LP FMV 99,487 99,487
    PALO ALTO HEALTHCARE FUND II, LP FMV 1,198,647 1,198,647
    RIMROCK STRUCTURED PRODUCT FUND FMV 832,445 832,445
    RUBICON INVESTORS, LLC FMV 532,952 532,952
    SENTAKU INVESTORS LLC FMV 9,790 9,790
    SIGHTLINE OPPORTUNITY MANAGEMENT FUND II, LP FMV 386,744 386,744
    TECHNOLOGY PARTNERS, LLC FMV 22,314 22,314
    TRF FEEDER FUND (CAYMAN) LP FMV 705,053 705,053
    TRYTON MEDICAL INVESTORS LLC FMV 215,019 215,019
    US WATER AND LAND, LP FMV 364,985 364,985
    VAPOTHERM INVESTORS, LLC FMV 510,796 510,796
    VENTURE INVESTMENT PARTNERS V, LP FMV 339,055 339,055
    VIA ENERGY LP FMV 162,838 162,838
    WAM-PAA, LP FMV 904,357 904,357
    WATER PROPERTY INVESTOR, LP FMV 959,145 959,145
    ZERO MASS WATER INVESTORS LLC FMV 408,962 408,962

    TY 2018 LandEtcSchedule2
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    OFFICE CONDOMINIUM 515,000 30,267 484,733  
    ARTWORK 28,950 6,204 22,746  
    2005 LEXUS 12,000 3,600 8,400  
    OFFICE EQUIPMENT 1,200 360 840  
    OFFICE FURNISHINGS 10,023 2,148 7,875  
    OFFICE FURNITURE 20,595 4,413 16,182  


    TY 2018 OtherExpensesSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUTOMOBILE EXPENSE 266 0   266
    BANK FEES 355 355   0
    DUES 375 94   281
    INSURANCE 5,529 0   5,529
    POSTAGE & SHIPPIBNG 1,111 0   1,111
    OFFICE EXPENSE 3,171 1,586   1,585
    SEC 59(2) EXPENSE - FROM PASSTHROUGHS 2,661 0   0
    NON DEDUCTIBLE EXPENSES - FROM PASSTHROUGHS 404 0   0
    PORTFOLIO DEDUCTIONS FROM PASSTHROUGHS 192,392 192,085   0
    ROYALTY EXPENSE FROM PASSTHROUGHS 288 5   0


    TY 2018 OtherIncomeSchedule2
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ORDINARY INCOME FROM PASSTHROUGHS   -11,953  
    PORTFOLIO INCOME FROM PASSTHROUGHS   -47,856  
    RENTAL INCOME FROM PASSTHROUGHS   12,648  
    ROYALTY INCOME FROM PASSTHROUGHS   77  
    SEC 965(A) INCOME   3  
    LP DISTRIBUTION IN EXCESS OF BASIS   6,745  
    PASSTHROUGH INCOME & DISTRIBUTION IN EXCESS OF BASIS (ABOVE) -40,948   -40,948


    TY 2018 OtherIncreasesSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Description Amount
    UNREALIZED APPRECIATION (LOSS) ON ASSETS 594,483


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ARNERICH MASSENA & ASSOCIATES - INVESTMENT SERVICES 80,736 80,736   0
    BECKER - INVESTMENT SERVICES 1,423 1,423   0
    MORRISON STREET CAPITAL - INVESTMENT SERVICES 14,140 14,140   0


    TY 2018 TaxesSchedule
    Name:
    SELBY AND RICHARD MCRAE FOUNDATION
    EIN:
    64-6026795
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES - FROM PASSTHROUGHS 1,007 1,007   0
    FOREIGN TAXES - SCHWAB 7,318 7,318   0
    PROPERTY TAXES 10,867 2,717   8,151
    FEDERAL/STATE INCOME TAXES 27,710 -1,290   0