TY 2019 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2019

Open to Public Inspection

For calendar year 2019, or tax year beginning 11-01-2019 , and ending 10-31-2020

Name of foundation
Mario C & Grace B Charles Education Foundation Inc

Number and street (or P.O. box number if mail is not delivered to street address)345 Frazier Avenue STE 210
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Chattanooga, TN37405

A Employer identification number

62-1762700

B Telephone number (see instructions)

(423) 266-5691

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$403,969J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)		0
2	Check .............
3	Interest on savings and temporary cash investments		18		18	18
4	Dividends and interest from securities...		12,720		12,720	12,720
5a	Gross rents............		0
b	Net rental income or (loss) 0
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a 0
7	Capital gain net income (from Part IV, line 2)...				0
8	Net short-term capital gain.........					0
9	Income modifications...........
10a	Gross sales less returns and allowances	0
b	Less: Cost of goods sold....	0
c	Gross profit or (loss) (attach schedule).....			0
11	Other income (attach schedule).......			0	0	0
12	Total. Add lines 1 through 11........		12,738		12,738	12,738
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........			725	0	0	0
b	Accounting fees (attach schedule).......			820	0	0	0
c	Other professional fees (attach schedule)....			0	0	0	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...			220	0	0	0
19	Depreciation (attach schedule) and depletion...			0	0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......			58	0	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........		1,823		0	0	0
25	Contributions, gifts, grants paid.......		13,000				13,000
26	Total expenses and disbursements. Add lines 24 and 25		14,823		0	0	13,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements		-2,085
b	Net investment income (if negative, enter -0-)				12,738
c	Adjusted net income (if negative, enter -0-)...					12,738

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2019)

Form 990-PF (2019)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	2,758	23,738	23,736
	2	Savings and temporary cash investments.........
	3	Accounts receivable
		Less: allowance for doubtful accounts		0
	4	Pledges receivable
		Less: allowance for doubtful accounts		0
	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) 0
		Less: allowance for doubtful accounts		0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)		0	0
	b	Investments—corporate stock (attach schedule).......	4,000	118,108	121,482
	c	Investments—corporate bonds (attach schedule).......		0	0
	11	Investments—land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0		0	0
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	434,358	256,464	258,751
	14	Land, buildings, and equipment: basis 0
		Less: accumulated depreciation (attach schedule) 0		0	0
	15	Other assets (describe )	0	0	0
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	441,116	398,310	403,969
	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 )	0	0
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	774,708	774,708
	28	Retained earnings, accumulated income, endowment, or other funds	-333,592	-376,398
	29	Total net assets or fund balances (see instructions).....	441,116	398,310
	30	Total liabilities and net assets/fund balances (see instructions).	441,116	398,310

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

441,116

Enter amount from Part I, line 27a .....................

-2,085

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

439,031

Decreases not included in line 2 (itemize) bullet

40,721

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

398,310

Form 990-PF (2019)

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	1,411.178 Shares Barclays BL PLC Path B Short	P		2019-12-03
b	930.160 Shares Global X Superdividend	P	2019-05-31	2019-11-11
c	1,521.196 Shares Global X MSCI Superdividend	P	2019-08-08	2019-11-11
d	836.454 Shares The Global X Superdividend Alt	P	2019-08-08	2019-11-13
e	573.754 Shares The Global Superdividend Alt	P	2019-08-08	2019-12-09
	396.929 Shares Ishares Barclays Agg Bond	P	2019-09-13	2019-11-11
	329.874 Shares Ishares Barclays 20 Year Treasury	P	2019-10-03	2019-11-11
	1,459.149 Shares Ishares Silver Trust	P	2019-12-09	2019-12-26
	1,515.682 Shares Proshares Ultrashort Dow 30	P	2019-11-19	2019-12-03
	815.124 Shares Proshares Ultrashort SP 500 SDS	P	2019-11-13	2019-11-19
	152.185 Shares SPDR Gold Shares	P	2019-09-10	2019-11-13
	162.203 Shares SPDR Gold Shares	P	2019-09-10	2019-11-25
	9.728 Shares Vanguard Extended Duration TRE Edv	P	2019-11-11	2019-11-19
	SPDR Gold Shares Principal Payment	P		2019-11-13
	9,942.281 Shares ALPS ETF TR Alerian	P
	16.611 Shares Adobe Systems Inc	P
	5.632 Shares Alphabet Inc	P	2020-09-22	2020-10-21
	13.038 Shares Amazon Com Inc	P
	46.423 Shares American Tower	P	2020-04-17	2020-05-13
	175.348 Shares Apple Inc	P
	37.078 Shares Costco Wholesale Corp	P	2020-04-17	2020-05-13
	785.667 Shares Delta Airlines Inc	P
	60.88 Shares Dollar General Corp	P
	299.163 Shares Exxon Mobile Corp	P	2020-04-16	2020-05-13
	1,892.668 Shares Powershares Listed Private Equity PSP	P	2020-02-28	2020-03-13
	317.451 Shares Ishares SP 500 Index Fund IVV	P	2020-03-23	2020-03-26
	658.640 Shares Ishares Barclays Aggregate Bond Fund	P
	1,089.352 Shares Ishares Barclays 20 Year Treasury	P
	310.606 Shares Ishares Barclays 710 Year TRE	P	2020-04-06	2020-04-17
	224.030 Shares Ishares Barclays 1020 Year Tr	P	2020-04-06	2020-04-23
	1,810.258 Shares Ishares SP US Preferred Stock PFF	P
	2,755.235 Shares Ishares MSCI USA Minimum Volat USMV	P
	460.503 Shares Ishares MSCI USA Quality Facto Qual	P	2020-03-13	2020-04-01
	641.052 Shares Ishares MSCI USA Value Factor Vlue	P
	30.924 Shares Facebook Inc	P	2020-09-22	2020-10-21
	518.82 Shares Fidelity Covington Tr MSCI	P	2020-03-13	2020-03-26
	68.387 Shares Fortinet Inc	P
	1,888.756 Shares Global X Superdividend US ET	P	2019-05-31	2020-01-17
	3,223.281 Shares Global X MLP ETF MLPA	P	2020-02-18	2020-02-28
	6,675.188 Shares Global X Superdividend ETF SDIV	P
	2,765.370 Shares Global X MSCI Superdividend EA EFAS	P	2019-08-08	2020-01-17
	1,541.515 Shares The Global X Superdividend ALT ALTY	P	2019-08-08	2020-01-17
	3,338.014 Shares Goldman Sachs Access Inflation GTIP	P
	912.953 Shares Ishares MSCI USA Momenteum Fact	P
	759.048 Shares Ishares IBonds Dec 2020	P	2020-05-13	2020-07-30
	747.543 Shares Ishares IBonds Dec 2023 Corp	P	2020-05-13	2020-07-30
	758.150 Shares Ishares IBonds Dec 2022 Corp	P	2020-05-13	2020-07-30
	736.381 Shares Ishares IBonds Dec 2025	P	2020-05-13	2020-07-30
	749.582 Shares Ishares IBonds Dec 2024 Corp	P	2020-05-13	2020-07-30
	768.449 Shares Ishares IBonds 2021 Corp	P	2020-05-13	2020-07-30
	750.167 Shares Ishares IBonds Dec 2026 Corp	P	2020-05-13	2020-07-30
	698.666 Shares Ishares IBonds Dec 2028 Term	P	2020-05-13	2020-07-30
	745.804 Shares Ishares IBonds Dec 2027 Term	P	2020-05-13	2020-07-30
	133.826 Shares JP Morgan Chase Co	P	2020-04-16
	2,786.890 Shares JP Morgan Chase Co Alerian	P		2020-03-11
	132.949 Shares Johnson Johnson	P	2020-04-07
	50.205 Shares Lowes Cos Inc	P	2020-09-10
	.46 Shares MSCI Inc	P	2020-09-10	2020-09-15
	47.36 Shares Mastercard Inc	P	2020-04-16
	112.42 Shares Microsoft Corp	P	2020-04-07
	77.103 Shares NetFlix Com Inc	P
	516.038 Shares Newmont Goldcorp Corp	P
	40.687 Shares Nvidia Corp	P	2020-04-17
	41.827 Shares PayPal Holdings Inc	P	2020-09-10
	359.188 Shares Pimco Total Return	P	2020-06-09
	1,072.149 Shares ProShares TR QID	P	2020-01-10	2020-01-17
	982.455 Shares ProShares Ultrashort	P	2019-12-26	2020-01-10
	2,012.172 Shares ProShares Short SP 500	P	2020-10-21	2020-10-29
	3,822.006 Shares ProShares TR Ultrapro	P
	221.849 Shares SPDR SP 500 Trust	P	2020-02-28	2020-03-13
	341.178 Shares SPDR Gold Shares	P
	2,598.489 Shares SPDR Barclays Capital Tips	P	2020-08-11
	1,306.103 Shares SPDR Barclays Capital Long Term	P	2020-06-09
	801.831 Shares SPDR Doubleline Total Return	P	2020-06-09	2020-11-03
	3,876.741 Shares SPDR Barclays Capital 13 Month	P
	236.223 Shares HealthCare Select Sector	P	2020-02-26
	189.012 Shares Consumer Discretionary Select	P	2020-02-26	2020-03-13
	478.031 Shares Energy Select Sector SPDR Fund	P	2020-02-26	2020-03-06
	800.174 Shares Financial Select Sector SPDR	P	2020-02-26	2020-03-04
	247.730 Shares Technology Select Sector SPDR	P	2020-02-26	2020-03-13
	1,743.814 Shares Real Estate Select Sector SPDR	P
	1,060.454 Shares Utilities Select Sector SPDR	P
	8.539 Shares Shopify Inc	P	2020-09-10
	54.068 Shares United Health Group	P	2020-04-17	2020-05-13
	330.050 Shares Vangauard Extended Duration TRE	P	2019-11-11	2020-01-17
	30.940 Shares Vertex Pharmaceuticals Inc	P	2020-09-10
	74.714 Shares Visa Inc	P	2020-04-16
	1,307.389 Shares Powershares DB US Dollar Index	P	2020-03-20	2020-04-16
	SPDR Gold Shares	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	26,450	24,232	2,218
b	21,724	20,139	1,585
c	24,475	22,924	1,551
d	12,271	12,446	-175
e	8,427	8,537	-110
	44,380	44,468	-88
	44,499	45,713	-1,214
	24,353	22,646	1,707
	37,173	35,829	1,344
	21,764	22,290	-526
	21,019	21,456	-437
	22,243	22,869	-626
	1,323	1,270	53
	15	15	0
	63,708	65,798	-2,090
	7,378	7,374	4
	8,567	7,818	749
	35,320	30,092	5,228
	10,788	11,715	-927
	35,417	30,857	4,560
	11,217	11,715	-498
	15,953	18,787	-2,834
	13,356	12,070	1,286
	12,535	11,745	790
	16,835	21,672	-4,837
	82,050	71,263	10,787
	77,055	73,893	3,162
	172,433	175,139	-2,706
	37,839	37,754	85
	37,970	37,754	216
	61,583	65,990	-4,407
	167,733	176,690	-8,957
	35,647	36,946	-1,299
	38,322	40,588	-2,266
	8,680	7,818	862
	18,367	18,473	-106
	8,506	8,047	459
	45,153	40,894	4,259
	19,050	23,240	-4,190
	79,269	83,957	-4,688
	45,628	41,674	3,954
	23,192	22,938	254
	335,248	334,789	459
	106,073	112,586	-6,513
	19,173	19,234	-61
	19,600	19,234	366
	19,446	19,234	212
	19,985	19,234	751
	19,841	19,234	607
	19,295	19,234	61
	20,164	19,234	930
	20,491	19,234	1,257
	20,323	19,234	1,089
	11,331	11,745	-414
	33,303	45,291	-11,988
	19,509	18,787	722
	8,814	8,047	767
	159	160	-1
	14,571	11,745	2,826
	21,370	18,787	2,583
	34,855	31,574	3,281
	32,122	31,737	385
	14,535	11,715	2,820
	8,845	8,047	798
	40,155	39,618	537
	22,913	23,716	-803
	23,751	24,353	-602
	40,989	39,773	1,216
	46,054	50,052	-3,998
	55,614	65,016	-9,402
	56,086	60,291	-4,205
	79,551	80,085	-534
	61,373	59,428	1,945
	39,978	39,618	360
	354,784	354,800	-16
	20,054	23,022	-2,968
	18,209	23,022	-4,813
	20,402	23,022	-2,620
	21,926	23,022	-1,096
	19,043	23,022	-3,979
	65,188	67,401	-2,213
	66,384	67,401	-1,017
	9,131	8,047	1,084
	15,084	15,620	-536
	43,803	43,108	695
	6,559	8,047	-1,488
	14,365	11,752	2,613
	35,429	36,293	-864
	43	43	0

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			2,218
b			1,585
c			1,551
d			-175
e			-110
			-88
			-1,214
			1,707
			1,344
			-526
		0	-437
			-626
			53
		0	0
		0	-2,090
			4
			749
			5,228
			-927
			4,560
			-498
			-2,834
			1,286
			790
			-4,837
			10,787
			3,162
			-2,706
			85
			216
			-4,407
			-8,957
			-1,299
		0	-2,266
			862
			-106
			459
			4,259
			-4,190
			-4,688
			3,954
			254
			459
			-6,513
			-61
			366
		0	212
			751
			607
			61
			930
			1,257
			1,089
			-414
			-11,988
			722
			767
			-1
			2,826
			2,583
			3,281
			385
			2,820
			798
			537
			-803
			-602
			1,216
			-3,998
			-9,402
			-4,205
			-534
			1,945
			360
			-16
			-2,968
			-4,813
			-2,620
			-1,096
			-3,979
			-2,213
			-1,017
			1,084
			-536
			695
			-1,488
			2,613
			-864
			0

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-29,635
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 ...................		3	-29,635

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? Yes No

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))
2018	17,000	447,412	0.037996
2017	16,500	453,716	0.036366
2016	13,800	455,385	0.030304
2015	31,894	454,983	0.070099
2014	34,841	511,782	0.068078

Total of line 1, column (d) .....................

0.242843

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 ......

0.048569

Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......

425,065

Multiply line 4 by line 3......................

20,645

Enter 1% of net investment income (1% of Part I, line 27b)...........

127

Add lines 5 and 6........................

20,772

Enter qualifying distributions from Part XII, line 4,.............

13,000

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 (2019)

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 and enter “N/A" on line 1.
	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	254
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	254
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	254
6	Credits/Payments:

a	2019 estimated tax payments and 2018 overpayment credited to 2019	6a
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	254
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2020 estimated tax	Refunded	11

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions

for definition).................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2019 or the taxable year beginning in 2019? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2019)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

John R Buhrman Telephone no. bullet

(423) 756-7771

Located at bullet

345 Frazier Avenue STE 210ChattanoogaTN ZIP+4 bullet

37405

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

16 At any time during calendar year 2019, 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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2019?.............

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)):

At the end of tax year 2019, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2019?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2019 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 2019.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2019?

Form 990-PF (2019)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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
Richard W Buhrman	Secretary 1	0	0	0
345 Frazier Avenue Chattanooga,TN37405	Secretary 1	0	0	0
John R Buhrman	Treasurer 1	0	0	0
345 Frazier Avenue Chattanooga,TN37405	Treasurer 1	0	0	0
Todd Dockery	President 1	0	0	0
345 Frazier Avenue Chattanooga,TN37405	President 1	0	0	0
Robert Moss	Vice President 1	0	0	0
345 Frazier Avenue Chattanooga,TN37405	Vice President 1	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










Total number of other employees paid over $50,000...................				0

Form 990-PF (2019)

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............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2019)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

418,290

Average of monthly cash balances.......................

13,248

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

431,538

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

431,538

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

6,473

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

425,065

Minimum investment return. Enter 5% of line 5..................

21,253

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.)

Minimum investment return from Part X, line 6....................

21,253

Tax on investment income for 2019 from Part VI, line 5......

254

Income tax for 2019. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

254

Distributable amount before adjustments. Subtract line 2c from line 1............

20,999

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

20,999

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

20,999

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

13,000

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

13,000

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

13,000

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 (2019)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2018	(c) 2018	(d) 2019
1 Distributable amount for 2019 from Part XI, line 7					20,999
2 Undistributed income, if any, as of the end of 2019:
a Enter amount for 2018 only.......				21,911
b Total for prior years:20, 20, 20
3 Excess distributions carryover, if any, to 2019:
a From 2014......	35,000
b From 2015......	32,000
c From 2016......	13,800
d From 2017......	16,500
e From 2018......	17,000
fTotal of lines 3a through e........		114,300
4Qualifying distributions for 2019 from Part
XII, line 4: $ 13,000
a Applied to 2018, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2019 distributable amount.....
e Remaining amount distributed out of corpus		13,000
5 Excess distributions carryover applied to 2019.
(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		127,300
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......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2018. Subtract line 4a from line 2a. Taxable amount—see instructions .............				21,911
f Undistributed income for 2019. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2020 ..........					20,999
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2014 not applied on line 5 or line 7 (see instructions) ...		35,000
9Excess distributions carryover to 2020. Subtract lines 7 and 8 from line 6a ......		92,300
10 Analysis of line 9:
a Excess from 2015....	32,000
b Excess from 2016....	13,800
c Excess from 2017....	16,500
d Excess from 2018....	17,000
e Excess from 2019....	13,000

Form 990-PF (2019)

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 2019, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2019	(b) 2018	(c) 2017	(d) 2016	(e) Total
					0
b 85% of line 2a .........	0	0	0	0	0
c Qualifying distributions from Part XII, line 4 for each year listed .....					0
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........					0
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....	0	0	0	0	0
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......					0
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)					0
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...					0
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) ....					0
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....					0
(3) Largest amount of support from an exempt organization					0
(4) Gross investment income					0

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

NONE

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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 (2019)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
University of Tennessee at Chattano 615 McCallie Avenue Dept 4805 Chattanooga,TN37403		Not for Profit	Financial Support	5,000
Chattanooga Community Kitchen 727 East 11th Street Chattanooga,TN37401		Not for Profit	Financial Support	2,000
Ronald McDonald House 200 Central Avenue Chattanooga,TN37403		Not for Profit	Financial Support	2,000
Siskins Hospital 1 Siskins Plaza Chattanooga,TN37403		Not for Profit	Financial Support	2,000
St Alexius Outreach Ministries 250 East 10th Street Chattanooga,TN37402		Not for Profit	Financial Support	2,000
Total ................................. 3a				13,000

bApproved for future payment

Total ................................. 3b				0

Form 990-PF (2019)

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	(e) Related or exempt function income (See instructions.)
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	18
4 Dividends and interest from securities....			14	12,720
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 ............
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		0		12,738	0

13Total. Add line 12, columns (b), (d), and (e)..................

12,738

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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 (2019)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below (see instr.) Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2019)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description