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
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
C A CANNON CHAR TRUST NO 3
 
Number and street (or P.O. box number if mail is not delivered to street address)100 N MAIN ST D4001-117
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WINSTONSALEM, NC27101
A Employer identification number

58-1360259
B Telephone number (see instructions)

(855) 834-0350
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$24,539,236J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 348,041 332,599  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 80,813
b Gross sales price for all assets on line 6a 2,917,427
7 Capital gain net income (from Part IV, line 2)... 80,813
8 Net short-term capital gain......... 0
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 697    
12 Total. Add lines 1 through 11........ 429,551 413,412  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 146,626 74,375   72,251
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 37,414 0 0 37,414
b Accounting fees (attach schedule)....... Click to see attachment 1,200 0 0 1,200
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 5,666 5,666   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 12,152 110   12,042
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 203,058 80,151 0 122,907
25 Contributions, gifts, grants paid....... 955,594 955,594
26 Total expenses and disbursements. Add lines 24 and 25 1,158,652 80,151 0 1,078,501
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -729,101
b Net investment income (if negative, enter -0-) 333,261
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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......... 908,801 1,227,059 1,227,059
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
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 bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 1,527,196 Click to see attachment1,109,717 1,181,307
b Investments—corporate stock (attach schedule)....... 7,974,028 Click to see attachment7,176,255 20,324,049
c Investments—corporate bonds (attach schedule)....... 1,498,840 Click to see attachment1,613,052 1,687,050
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 71,047 Click to see attachment119,732 119,771
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) 11,979,912 11,245,815 24,539,236
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
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 11,979,912 11,245,815
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 11,979,912 11,245,815
30 Total liabilities and net assets/fund balances (see instructions). 11,979,912 11,245,815
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
11,979,912
2
Enter amount from Part I, line 27a .....................
2
-729,101
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
5,609
4
Add lines 1, 2, and 3 ..........................
4
11,256,420
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
10,605
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
11,245,815
Form 990-PF (2020)
Form 990-PF (2020)
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 25000. AT&T INC 3.400% 5/15/25   2016-05-19 2020-08-07
b 15000. AMGEN INC 4.100% 6/15/21   2011-09-01 2020-03-22
c 300. APPLE INC   2011-12-13 2020-07-20
d .16 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2020-08-03
e .03 BEAR STEARNS MTG 6.750% 5/02/30   2002-02-21 2020-12-03
40000. CIGNA CORP 4.375% 12/15/20   2017-10-18 2020-12-15
30000. CELGENE CORP 2.875% 8/15/20   2017-12-11 2020-08-15
600. CERNER CORP COM   2019-01-28 2020-02-24
4000. CHENIERE ENERGY INC   2016-02-04 2020-03-24
4600. COGNIZANT TECH SOLUTIONS CRP COM   2014-09-23 2020-02-24
9132.42 DODGE & COX INT'L STOCK FD #1048   2009-12-23 2020-05-20
15000. DR PEPPER SNAPPLE GR 2.000% 1/15/20   2016-01-14 2020-01-15
105.27 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-01-15
145.02 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-02-15
84.48 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-03-15
150.52 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-04-15
161.21 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-05-15
100.41 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-06-15
94.31 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-07-15
80.76 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-08-15
76.31 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-09-15
113.66 FHLMC POOL #J15186 4.000% 4/01/26   2011-12-13 2020-10-15
48.03 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-01-15
48.24 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-02-15
48.45 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-03-15
48.66 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-04-15
1138.79 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-05-15
35.75 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-06-15
35.91 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-07-15
36.06 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-08-15
36.22 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-09-15
36.38 FHLMC POOL #E02909 5.000% 6/01/26   2012-03-13 2020-10-15
160.09 FHLMC POOL #ZK3192 4.000% 4/01/26   2011-12-13 2020-11-25
133.91 FHLMC POOL #ZK3192 4.000% 4/01/26   2011-12-13 2020-12-25
36.54 FHLMC POOL #ZA2634 5.000% 6/01/26   2012-03-13 2020-11-25
36.7 FHLMC POOL #ZA2634 5.000% 6/01/26   2012-03-13 2020-12-25
116.46 FHLMC POOL #QB2802 2.500% 8/01/50   2020-08-24 2020-10-25
623.99 FHLMC POOL #QB2802 2.500% 8/01/50   2020-08-24 2020-11-25
104.2 FHLMC POOL #QB2802 2.500% 8/01/50   2020-08-24 2020-12-25
345.45 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-01-25
551.66 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-02-25
323.99 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-03-25
256.33 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-04-25
225.3 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-05-25
439.91 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-06-25
406.34 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-07-25
439.61 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-08-25
318.72 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-09-25
344.4 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-10-25
253.51 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-11-25
344.69 FED NATL MTG ASSN 2.250% 12/25/40   2014-06-03 2020-12-25
4715.67 FED HOME LN MTG CORP 4.000% 12/15/43   2019-06-12 2020-11-15
5794.92 FED HOME LN MTG CORP 4.000% 12/15/43   2019-06-12 2020-12-15
211.01 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-01-25
414.66 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-02-25
257.41 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-03-25
84.63 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-04-25
524.79 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-05-25
687.13 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-06-25
464.62 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-07-25
358.66 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-08-25
456.48 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-09-25
979.46 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-10-25
640.24 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-11-25
127.36 FNMA POOL #AO5472 3.500% 7/01/42   2012-12-10 2020-12-25
5.36 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-01-25
3.75 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-02-25
3.04 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-03-25
2.05 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-04-25
1.42 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-05-25
1.3 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-06-25
.88 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-07-25
.67 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-08-25
1.44 FNMA POOL #890379 5.000% 12/01/20   2012-02-13 2020-09-25
.12 FNMA POOL #890379 5.000% 12/01/20   2012-02-16 2020-11-25
.05 FNMA POOL #890379 5.000% 12/01/20   2012-02-16 2020-12-25
30000. FORD MOTOR CREDIT CO 3.096% 5/04/23   2016-05-19 2020-04-08
6500. HD SUPPLY HOLDINGS INC   2020-07-20 2020-12-24
25000. HSBC HOLDINGS PLC 4.875% 1/14/22   2015-10-29 2020-08-18
20000. INTEL CORP 3.300% 10/01/21   2015-05-26 2020-11-17
10000. KEYCORP 2.900% 9/15/20   2016-10-27 2020-09-15
14492.754 LAZARD EMERGING MKTS PTFL #638   2009-12-23 2020-05-20
1900. M & T BANK CORPORATION COM   2018-10-31 2020-07-31
30000. MAGELLAN MIDSTREAM 4.250% 2/01/21   2015-01-21 2020-06-19
30000. MASTERCARD INC 2.000% 11/21/21   2018-05-24 2020-02-12
30000. PNC FUNDING CORP 3.300% 3/08/22   2015-08-26 2020-08-20
30000. STATE STREET CORP 2.550% 8/18/20   2017-05-11 2020-04-08
7400. SYNCHRONY FINANCIAL   2018-10-25 2020-04-16
85000. US TREASURY NOTE 2.625% 2/28/23   2018-03-15 2020-04-09
55000. US TREASURY NOTE 2.625% 2/15/29   2019-07-31 2020-04-09
15000. US TREASURY NOTE 2.625% 2/15/29   2019-03-28 2020-04-09
20000. US TREASURY NOTE 2.625% 2/15/29   2019-03-28 2020-08-24
40000. US TREASURY NOTE 2.375% 8/15/24   2017-02-21 2020-08-24
35000. US TREASURY NOTE 2.375% 8/15/24   2014-09-23 2020-11-18
5000. US TREASURY NOTE 1.375% 2/29/20   2015-03-19 2020-02-29
45000. US TREASURY NOTE 2.625% 8/15/20   2015-12-08 2020-04-09
10000. US TREASURY NOTE 2.625% 8/15/20   2010-11-30 2020-08-15
50000. US TREASURY NOTE 1.625% 2/15/26   2016-03-21 2020-04-24
55000. US TREASURY NOTE 1.625% 5/15/26   2016-07-18 2020-04-09
50000. US TREASURY NOTE 2.125% 8/15/21   2015-12-08 2020-05-18
40000. US TREASURY NOTE 2.000% 2/15/22   2017-04-04 2020-08-24
40000. US TREASURY NOTE 1.625% 11/15/22   2017-06-28 2020-08-24
40000. US TREASURY NOTE 2.250% 2/15/27   2017-05-26 2020-08-24
40000. US TREASURY NOTE 2.250% 2/15/27   2017-03-16 2020-10-09
35000. US TREASURY NOTE 2.500% 5/15/24   2014-06-30 2020-11-18
2000. YUM CHINA HOLDINGS INC   2017-01-04 2020-03-24
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(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 27,972   25,038 2,934
b 15,443   15,866 -423
c 117,055   16,873 100,182
d        
e        
40,000   42,410 -2,410
30,000   30,313 -313
44,216   33,012 11,204
126,819   150,007 -23,188
312,047   206,478 105,569
300,000   283,967 16,033
15,000   15,000  
105   111 -6
145   153 -8
84   89 -5
151   158 -7
161   170 -9
100   106 -6
94   99 -5
81   85 -4
76   80 -4
114   120 -6
48   52 -4
48   52 -4
48   52 -4
49   53 -4
1,139   1,231 -92
36   39 -3
36   39 -3
36   39 -3
36   39 -3
36   39 -3
160   168 -8
134   141 -7
37   39 -2
37   40 -3
116   123 -7
624   656 -32
104   110 -6
345   346 -1
552   553 -1
324   325 -1
256   257 -1
225   226 -1
440   441 -1
406   407 -1
440   441 -1
319   319  
344   345 -1
254   254  
345   345  
4,716   4,949 -233
5,795   6,081 -286
211   226 -15
415   444 -29
257   276 -19
85   91 -6
525   562 -37
687   736 -49
465   497 -32
359   384 -25
456   489 -33
979   1,048 -69
640   685 -45
127   136 -9
5   6 -1
4   4  
3   3  
2   2  
1   2 -1
1   1  
1   1  
1   1  
1   2 -1
       
       
25,060   29,820 -4,760
364,000   231,362 132,638
26,574   27,527 -953
20,511   21,073 -562
10,000   10,324 -324
200,000   264,510 -64,510
197,559   321,259 -123,700
30,703   32,763 -2,060
30,222   29,555 667
31,283   30,613 670
30,062   30,551 -489
105,452   244,223 -138,771
90,621   85,030 5,591
63,858   57,537 6,321
17,416   15,304 2,112
23,420   20,405 3,015
43,403   41,009 2,394
37,725   34,468 3,257
5,000   4,975 25
45,390   46,944 -1,554
10,000   9,985 15
53,363   49,260 4,103
58,416   55,234 3,182
51,215   50,768 447
41,088   40,348 740
41,303   40,002 1,301
44,669   39,626 5,043
44,448   39,138 5,310
37,717   34,938 2,779
84,559   52,967 31,592
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      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
      17
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       2,934
b       -423
c       100,182
d        
e        
      -2,410
      -313
      11,204
      -23,188
      105,569
      16,033
       
      -6
      -8
      -5
      -7
      -9
      -6
      -5
      -4
      -4
      -6
      -4
      -4
      -4
      -4
      -92
      -3
      -3
      -3
      -3
      -3
      -8
      -7
      -2
      -3
      -7
      -32
      -6
      -1
      -1
      -1
      -1
      -1
      -1
      -1
      -1
       
      -1
       
       
      -233
      -286
      -15
      -29
      -19
      -6
      -37
      -49
      -32
      -25
      -33
      -69
      -45
      -9
      -1
       
       
       
      -1
       
       
       
      -1
       
       
      -4,760
      132,638
      -953
      -562
      -324
      -64,510
      -123,700
      -2,060
      667
      670
      -489
      -138,771
      5,591
      6,321
      2,112
      3,015
      2,394
      3,257
      25
      -1,554
      15
      4,103
      3,182
      447
      740
      1,301
      5,043
      5,310
      2,779
      31,592
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 80,813
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
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 for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 4,632
c All other domestic foundations enter 1.39% 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 4,632
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 4,632
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 6,344
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 6,344
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 1,712
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet1,712 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 the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletWELLS FARGO BANK NA Telephone no.bullet (855) 834-0350

    Located atbullet100 N MAIN ST FL6 D4001-065CHARLOTTENC ZIP+4bullet28288
    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 2020, 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 2020 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 2020.)..................
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    WELLS FARGO BANK NAClick to see attachment CO-TRUSTEE
    1     		93,749    
    1525 WEST WT HARRIS BLVD D1114-044
    CHARLOTTE,NC28262
    ROBERT C HAYESClick to see attachment CO-TRUSTEE
    3     		389    
    868 N CHURCH ST
    CONCORD,NC28025
    WILLIAM C CANNON JRClick to see attachment CO-TRUSTEE
    3     		13,417    
    868 N CHURCH ST
    CONCORD,NC28025
    JOSEPH C HUNTERClick to see attachment CO-TRUSTEE
    3     		13,417    
    868 N CHURCH ST
    CONCORD,NC28025
    EDWIN OUTENClick to see attachment CO-TRUSTEE
    3     		13,417    
    868 N CHURCH ST
    CONCORD,NC28025
    WELLS FARGO BANK NAClick to see attachment CO-TRUSTEE
    1     		12,237    
    1525 WEST WT HARRIS BLVD D1114-044
    CHARLOTTE,NC28262
    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 (2020)
    Form 990-PF (2020)
    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
    NONE
    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.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    20,688,397
    b
    Average of monthly cash balances.......................
    1b
    895,736
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    21,584,133
    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
    21,584,133
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    323,762
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    21,260,371
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    1,063,019
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    1,063,019
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    4,632
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    4,632
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,058,387
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,058,387
    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
    1,058,387
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,078,501
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,078,501
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,078,501
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 1,058,387
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 955,594
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 0
    b From 2016...... 0
    c From 2017...... 0
    d From 2018...... 0
    e From 2019...... 0
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 1,078,501
    a Applied to 2019, but not more than line 2a 955,594
    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 2020 distributable amount..... 122,907
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		935,480
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 0
    c Excess from 2018.... 0
    d Excess from 2019.... 0
    e Excess from 2020.... 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 (2020)
    Form 990-PF (2020)
    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
    DAVIDSON COLLEGE
    P O BOX 7162
    DAVIDSON,NC28035     		NONE PC LIBERAL ARTS FOR THE 21ST 175,000
    QUEENS UNIVERSITY
    1900 SELWYN AVENUE
    CHARLOTTE,NC28274     		NONE PC MARIAM HAYES EDUCATIONAL 100,000
    DUKE UNIVERSITY
    SCHOOL OF LAW
    P O BOX 90362
    DURHAM,NC27708     		NONE PC GENERAL SUPPORT 382,238
    LENOIR-RHYNE UNIVERSITY
    LUTHERAN THEOLOGICAL SOUTHERN SEMINARY
    4201 NORTH MAIN ST
    COLUMBIA,SC29203     		NONE PC LTSS STRUCTURAL 114,356
    CONVERSE COLLEGE
    580 EAST MAIN ST
    SPARTANBURG,SC29302     		NONE PC MONTGOMERY STUDENT CENTER 184,000
    Total .................................bullet 3a 955,594
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 ...........     		         
    4 Dividends and interest from securities....     14 348,041  
    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 80,813  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aEXCISE TAX REFUND     		    1 697  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   429,551  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    429,551
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,200     1,200

    TY 2020 CompensationExplanation
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Person Name Explanation
    WELLS FARGO BANK NA TRUSTEE ADMN FEES SEE ATTACHED FOOTNOTE
    ROBERT C HAYES TRUSTEE ADMIN FEES
    WILLIAM C CANNON JR TRUSTEE ADMIN FEES
    JOSEPH C HUNTER TRUSTEE ADMIN FEES
    EDWIN OUTEN TRUSTEE ADMIN FEES
    WELLS FARGO BANK NA GRANT ADMIN FEES SEE ATTACHED FOOTNOTE

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Name of Bond End of Year Book Value End of Year Fair Market Value
    031162BG4 AMGEN INC    
    30219GAF5 EXPRESS SCRIPTS HOLD 26,621 25,919
    882508AW4 TEXAS INSTRUMENTS IN 19,648 20,819
    931422AH2 WALGREEN CO 10,048 10,439
    001055AM4 AFLAC INC 34,962 38,998
    539473AH1 GCB LLOYDS TSB BK PL 53,161 45,122
    57772KAB7 MAXIM INTEGRATED PRO 33,817 36,846
    12572QAG0 CME GROUP INC 30,596 32,890
    38148LAC0 GOLDMAN SACHS GROUP 30,496 33,110
    40414LAL3 HCP INC 14,989 16,595
    404280AL3 HSBC HOLDINGS PLC    
    458140AJ9 INTEL CORP    
    55907RAA6 MAGELLAN MIDSTREAM    
    665859AM6 NORTHERN TRUST CORP 10,416 10,197
    693476BN2 PNC FUNDING CORP    
    92343VCR3 VERIZON COMMUNICATIO 29,820 33,136
    00206RCN0 AT&T INC    
    037833BZ2 APPLE INC 34,759 38,203
    06406FAA1 BANK OF NY MELLON CO 35,888 35,158
    084670BS6 BERKSHIRE HATHAWAY 30,986 33,519
    26138EAQ2 DR PEPPER SNAPPLE GR    
    345397XZ1 FORD MOTOR CREDIT CO    
    46625HQW3 JPMORGAN CHASE & CO 30,773 33,577
    49326EEF6 KEYCORP    
    89114QBG2 TORONTO-DOMINION BAN 20,215 20,099
    026874CU9 AMERICAN INTL GROUP 16,594 15,914
    06051GGA1 BANK OF AMERICA CORP 34,748 39,168
    125509BN8 CIGNA CORP    
    151020AQ7 CELGENE CORP    
    31428XAV8 FEDEX CORP 19,723 20,987
    534187BC2 LINCOLN NATIONAL COR 31,984 31,298
    539830BH1 LOCKHEED MARTIN CORP 36,560 39,757
    740189AM7 PRECISION CASTPARTS 30,938 33,149
    857477AS2 STATE STREET CORP    
    05567LT31 BNP PARIBAS 20,993 20,026
    10373QAJ9 BP CAP MARKETS AMERI 24,833 25,995
    14040HBZ7 CAPITAL ONE FINANCIA 14,955 17,121
    172967KY6 CITIGROUP INC 28,023 33,530
    231021AR7 CUMMINS INC 25,324 27,089
    26441CAL9 DUKE ENERGY CORP 20,255 21,743
    524660AW7 LEGGETT & PLATT INC 29,691 30,961
    57636QAF1 MASTERCARD INC 19,415 20,289
    0258M0EL9 AMERICAN EXPRESS CRE 47,250 51,342
    038222AL9 APPLIED MATERIALS IN 14,905 16,988
    04010LAR4 ARES CAPITAL CORP 30,506 30,858
    126650CL2 CVS HEALTH CORP 26,417 28,313
    26078JAD2 DOWDUPONT INC 11,148 12,319
    548661DP9 LOWE'S COS INC 29,376 33,657
    743820AA0 PROV ST JOSEPH HLTH 29,414 32,101
    911312AQ9 UNITED PARCEL SERVIC 40,639 41,490
    92826CAD4 VISA INC 35,059 39,265
    931142EE9 WALMART INC 55,216 58,893
    961214DW0 WESTPAC BANKING CORP 37,487 40,253
    00206RHJ4 AT&T INC 35,729 35,780
    00287YAQ2 ABBVIE INC 22,360 22,282
    031162CT5 AMGEN INC 31,832 32,160
    036752AL7 ANTHEM INC 30,498 33,353
    20030NCT6 COMCAST CORP 35,957 36,113
    22160KAM7 COSTCO WHOLESALE COR 22,561 22,443
    375558BM4 GILEAD SCIENCES INC 33,653 32,961
    458140BH2 INTEL CORP 32,555 32,543
    46625HJH4 JPMORGAN CHASE & CO 14,913 15,879
    501044DE8 KROGER CO 32,646 32,769
    606822BN3 MITSUBISHI UFJ FIN 31,565 31,692
    61746BDQ6 MORGAN STANLEY 27,654 27,696
    666807BS0 NORTHROP GRUMMAN COR 37,190 37,238
    693475AZ8 PNC FINANCIAL SERVIC 32,860 32,867
    855244AQ2 STARBUCKS CORP 32,431 34,141

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Name of Stock End of Year Book Value End of Year Fair Market Value
    025816109 AMERICAN EXPRESS CO 87,009 386,912
    03027X100 AMERICAN TOWER CORP 103,607 718,272
    037833100 APPLE INC 184,302 1,804,584
    084670108 BERKSHIRE HATHAWAY I 401,060 1,391,260
    126650100 CVS HEALTH CORPORATI 186,291 368,820
    20030N101 COMCAST CORP CLASS A 120,172 838,400
    25243Q205 DIAGEO PLC - ADR 157,850 397,025
    256206103 DODGE & COX INT'L ST 369,456 556,035
    30231G102 EXXON MOBIL CORPORAT 141,416 144,270
    31428X106 FEDEX CORPORATION 170,135 649,050
    46625H100 JPMORGAN CHASE & CO 102,005 635,350
    478160104 JOHNSON & JOHNSON 152,005 393,450
    52106N889 LAZARD EMERGING MKTS 390,490 409,157
    594918104 MICROSOFT CORP 141,279 1,445,730
    641069406 NESTLE S.A. REGISTER 121,978 353,400
    883556102 THERMO FISHER SCIENT 144,817 1,211,028
    907818108 UNION PACIFIC CORP 86,938 562,194
    92826C839 VISA INC-CLASS A SHR 85,935 1,093,650
    949746101 WELLS FARGO & CO 255,180 315,381
    192446102 COGNIZANT TECH SOLUT    
    893641100 TRANSDIGM GROUP INC 102,592 464,138
    02079K107 ALPHABET INC CL C 245,873 1,138,722
    16411R208 CHENIERE ENERGY INC    
    595112103 MICRON TECHNOLOGY IN 83,763 375,900
    50540R409 LABORATORY CRP OF AM 249,336 508,875
    98850P109 YUM CHINA HOLDINGS I 20,597 114,180
    172967424 CITIGROUP INC. 212,953 228,142
    339041105 FLEETCOR TECHNOLOGIE 231,476 436,528
    87165B103 SYNCHRONY FINANCIAL    
    G0750C108 AXALTA COATING SYSTE 227,653 234,110
    38141G104 GOLDMAN SACHS GROUP 302,027 316,452
    55261F104 M & T BANK CORPORATI    
    09857L108 BOOKING HOLDINGS INC 264,595 300,681
    156782104 CERNER CORP COM 203,573 290,376
    254687106 WALT DISNEY CO 308,009 904,451
    35137L204 FOX CORP 329,328 259,920
    723787107 PIONEER NAT RES CO C 210,658 182,224
    502431109 L3HARRIS TECHNOLOGIE 325,683 378,040
    786584102 SAFRAN SA-UNSPON ADR 176,013 166,662
    91324P102 UNITEDHEALTH GROUP I 280,201 350,680

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    US Government Securities - End of Year Book Value:

    1,109,717
    US Government Securities - End of Year Fair Market Value:

    1,181,307
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2020 InvestmentsOtherSchedule2
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    073914C27 BEAR STEARNS MTG AT COST 30 1
    3136A2K51 FED NATL MTG ASSN AT COST 5,638 5,750
    161571GK4 CHASE ISSUANCE TRUST AT COST 40,131 40,199
    3137FG2W4 FED HOME LN MTG CORP AT COST 9,958 9,501
    95000CAZ6 WELLS FARGO COMMERCI AT COST 63,975 64,320

    TY 2020 LegalFeesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL SERVICES 37,414     37,414


    TY 2020 OtherDecreasesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Amount
    MUTUAL FUNDS POST NEXT TYE EFFECTIVE CURRENT TYE 3,880
    ACCRUED INT PAID CURR TYE EFF NEXT 350
    ROC ADJUSTMENT 6,375


    TY 2020 OtherExpensesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CANNON FDN - SHARED SERVICES 12,042 0   12,042
    ADR FEES 110 110   0


    TY 2020 OtherIncomeSchedule2
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    EXCISE TAX REFUND 697 0  


    TY 2020 OtherIncreasesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Description Amount
    MUTUAL FUNDS POST CURRENT TYE EFFECTIVE PRIOR TYE 4,340
    ROUNDING 9
    ACCRUED INT PAID POST PRIOR EFF CURR 1,260


    TY 2020 TaxesSchedule
    Name:
    C A CANNON CHAR TRUST NO 3
    EIN:
    58-1360259
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 2,908 2,908   0
    FOREIGN TAXES ON QUALIFIED FOR 2,758 2,758   0