Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
DEBUSK FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)12644 SUNLIGHT DRIVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DALLAS, TX75230
A Employer identification number

75-1671193
B Telephone number (see instructions)

(214) 213-9212
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$7,146,777J 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) 610
2 Check bullet.............
3 Interest on savings and temporary cash investments 58,603 58,603  
4 Dividends and interest from securities... 66,943 66,943  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 921,860
b Gross sales price for all assets on line 6a 2,706,025
7 Capital gain net income (from Part IV, line 2)... 921,860
8 Net short-term capital gain......... 5,602
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).......      
12 Total. Add lines 1 through 11........ 1,048,016 1,047,406 5,602
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 42,000 12,600   29,400
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,850 1,155   2,695
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 13,582 673   1,571
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 2,450 735   1,715
21 Travel, conferences, and meetings....... 2,453 736   1,717
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 17,901 15,034   2,867
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 82,236 30,933   39,965
25 Contributions, gifts, grants paid....... 236,500 236,500
26 Total expenses and disbursements. Add lines 24 and 25 318,736 30,933   276,465
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 729,280
b Net investment income (if negative, enter -0-) 1,016,473
c Adjusted net income (if negative, enter -0-)... 5,602
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............. 49,357 21,118 21,118
2 Savings and temporary cash investments......... 359,705 1,001,083 1,001,083
3 Accounts receivable bullet12,695
Less: allowance for doubtful accounts bullet   13,714 12,695 12,695
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 993,847 Click to see attachment1,400,438 1,400,438
b Investments—corporate stock (attach schedule)....... 3,756,402 Click to see attachment3,520,922 3,520,922
c Investments—corporate bonds (attach schedule)....... 659,465 Click to see attachment734,904 734,904
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,049,729 Click to see attachment455,617 455,617
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) 6,882,219 7,146,777 7,146,777
Liabilities 17 Accounts payable and accrued expenses..........   1,213
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).........   1,213
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........... 6,882,219  
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........    
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)..... 6,882,219 7,145,564
30 Total liabilities and net assets/fund balances (see instructions). 6,882,219 7,146,777
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
6,882,219
2
Enter amount from Part I, line 27a .....................
2
729,280
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
7,611,499
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
465,935
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
7,145,564
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 DUKE ENERGY P 2010-11-20 2020-01-28
b ORACLE CORP. P 2014-04-21 2020-01-28
c ISHARES SELECT DIV. ETF P 2020-03-18 2020-03-25
d APPLE INC. P 2010-01-01 2020-12-31
e MICROSOFT CORP. P 2010-01-01 2020-12-31
YUM CHINA HOLDINGS P 2010-01-01 2020-12-31
LILLY ELI & CO P 2010-01-01 2020-12-31
CHEVRON CORP. P 2004-02-03 2020-03-06
PAYPAL HOLDINGS P 2010-01-01 2020-03-09
MCDONALDS CORP. P 2010-01-01 2020-12-31
MONDELEZ INTL P 2013-12-19 2020-03-12
ABBOTT LABORATORIES P 2012-10-12 2020-03-13
HONEYWELL INTL INC. P 2003-11-23 2020-03-13
TEXAS INSTRUMENTS P 2003-11-20 2020-03-13
VANGUARD S&P SMALL CAP P 2010-01-01 2020-03-13
J P MORGAN CHASE P 2020-04-03 2020-04-17
MORGAN STANLEY P 2012-12-20 2020-04-17
CLOROX CO P 2003-11-20 2020-05-14
JOHNSON & JOHNSHON P 2003-11-26 2020-05-14
WASTE MANAGEMENT P 2013-11-18 2020-05-14
US TREASURY INFL NOTES P 2020-01-01 2020-08-01
AMERICAN EXPRESS CREDIT 2.2% P 2018-01-12 2020-02-03
BP CAPITAL MARKETS PLC 2.315% P 2017-07-14 2020-02-13
BK OF MONTREAL MEDIUM TERM P 2018-05-21 2020-10-08
CVS HEALTH CORP NOTE P 2019-01-24 2020-08-27
DOW DUPONT INC. NTS B/E P 2019-04-24 2020-11-15
US TSY NOTE 1.5% P 2018-05-21 2020-08-15
US TSY NOTE 2.25% P 2019-01-04 2020-02-29
US TREASURY INFL NOTE 2.875% P 2018-05-29 2020-02-14
US TREASURY INFL NOTE 1.75% P 2019-05-15 2020-10-21
US TSY NOTE 1.75% P 2016-03-04 2020-12-31
US TSY NOTE 1.125%% P 2018-05-29 2020-02-14
US TREASURY INFL NOTE 2.375% P 2018-01-12 2020-02-14
UNITED TECHNOLOGIES CORP NOTE P 2019-04-24 2020-05-19
VERIZON COMMUNICATIONS 4.6% P 2018-05-21 2020-06-29
(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 105,930   56,535 49,395
b 160,616   120,549 40,067
c 205,845   216,323 -10,478
d 100,485   26,432 74,053
e 126,014   20,400 105,614
159,610   21,940 137,670
199,927   75,555 124,372
93,778   43,000 50,778
175,664   151,354 24,310
108,143   52,942 55,201
49,483   34,072 15,411
75,628   33,309 42,319
14,055   2,838 11,217
69,827   20,000 49,827
117,547   101,199 16,348
138,518   126,734 11,784
92,740   46,224 46,516
41,301   9,354 31,947
29,363   9,921 19,442
19,224   9,133 10,091
203,302   199,006 4,296
22,000   21,935 65
20,000   20,000  
19,274   18,909 365
30,142   28,373 1,769
25,000   25,000  
25,000   24,432 568
50,000   49,822 178
25,347   23,014 2,333
9,256   8,146 1,110
90,152   90,273 -121
19,984   19,516 468
43,415   40,380 3,035
19,858   18,350 1,508
19,597   19,195 402
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       49,395
b       40,067
c       -10,478
d       74,053
e       105,614
      137,670
      124,372
      50,778
      24,310
      55,201
      15,411
      42,319
      11,217
      49,827
      16,348
      11,784
      46,516
      31,947
      19,442
      10,091
      4,296
      65
       
      365
      1,769
       
      568
      178
      2,333
      1,110
      -121
      468
      3,035
      1,508
      402
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 2 921,860
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 5,602
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 14,129
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  
3 Add lines 1 and 2........................... 3 14,129
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 14,129
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 4,974
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 4,974
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 28
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 9,183
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
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)
    bulletTX
    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 addressbulletN/A
    14
    The books are in care ofbulletKEITH BELCHER Telephone no.bullet (703) 625-5837

    Located atbullet161 BRAILSFORD STREETDANIEL ISLANDSC ZIP+4bullet29492
    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
    KARI KOLBER Secretary
    1.00     		30,000    
    3640 WESTON ROAD
    MCKINNEY,TX75071
    JOHN BARONE Director
    1.00     		4,500    
    10002 TERRITORY LANE
    HOUSTON,TX77064
    KEITH BELCHER Treasurer
    1.00     		0    
    5352 LAKE NORMANDY COURT
    FAIRFAX,VA22030
    J MICHAEL TIBBALS Vice President
    1.00     		0    
    4925 GREENVILLE AVE 1450
    DALLAS,TX75206
    MIRANDA BENNETT President
    1.00     		3,750    
    318 W ASHFORD WAY
    IRMO,SC29063
    JANETTE BOAZMAN Director
    1.00     		3,750    
    12644 SUNLIGHT DR
    DALLAS,TX75230
    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  
    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.............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 (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
    5,711,370
    b
    Average of monthly cash balances.......................
    1b
    1,063,542
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    6,774,912
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    6,774,912
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    101,624
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    6,673,288
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    333,664
    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
    333,664
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    14,129
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    14,129
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    319,535
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    319,535
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    319,535
    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
    276,465
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    276,465
    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
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    276,465
    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 7 319,535
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 201,808
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 276,465
    a Applied to 2019, but not more than line 2a 201,808
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 74,657
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2020.    
    (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  
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		244,878
    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 2015 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019....  
    e Excess from 2020....  
    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 e-mail address of the person to whom applications should be addressed:
    Director
    12644 SUNLIGHT DR
    DALLAS,TX75230
    (214) 213-9212
    GUIDELINES@DEBUSKFOUNDATION.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    SEE PROPOSAL GUIDELINES FORM 07-19-21.
    cAny submission deadlines:
    OCTOBER 15TH
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    GRANTS ARE MADE ANNUALLY TO EDUCATIONAL ORGANIZATIONS FOR THE OPERATION OF THE FOUNDATION'S SIGNATURE DECATS SUMMER PROGRAMS FOR GIFTED ELEMENTARY AND MIDDLE SCHOOL STUDENTS. FUNDING IS FOR THREE-WEEK DECATS SUMMER PROGRAMS ONLY. STUDENTS MAY ATTEND ONLY ONE SUMMER PROGRAM PER YEAR FUNDED BY THE DEBUSK FOUNDATION TO ALLOW AS MANY GIFTED STUDENTS AS POSSIBLE TO BENEFIT FROM THE FUNDING. FUNDED PROGRAMS ARE REQUIRED TO IMPLEMENT DEBUSK FOUNDATION'S DECATS CORE CURRICULUM AS A CENTRAL TENET OF THE DECATS PROGRAM.
    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
    DIOCESE OF AUSTINPASTORAL CENTER
    6225 E HWY 290 SVRD EB
    AUSTIN,TX78723     		NONE PC EDUCATION 11,000
    DECATS SUGARLAND
    PO BOX 924892
    HOUSTON,TX77292     		NONE PC EDUCATION 19,000
    DEBUSK ENRICHMENT CENTER OF TEXAS
    10002 TERRITORY LANE
    HOUSTON,TX77064     		NONE PC EDUCATION 125,000
    SENIOR DECATS
    8559 SOUTH MEDITERRANEAN CR
    DALLAS,TX75238     		NONE PC EDUCATION 34,000
    JUNIOR DECATS DALLAS
    13901 MIDWAY RD 102-226
    DALLAS,TX75244     		NONE PC EDUCATION 31,000
    WEST HOUSTON DECATS
    10570 WESTPARK DR
    HOUSTON,TX77042     		NONE PC EDUCATION 16,500
    Total .................................bullet 3a 236,500
    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 ...........     		    14 58,603  
    4 Dividends and interest from securities....     14 66,943  
    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 ............     		    18 921,860  
    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)..   1,047,406  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,047,406
    (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: 20011551
    Software Version: 2020v4.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2020 AccountingFeesSchedule
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 3,850 1,155 0 2,695

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Name of Bond End of Year Book Value End of Year Fair Market Value
    MORGAN STANLEY NTS B/E 40,789 40,789
    WELLS FARGO & CO NTS B/E 32,856 32,856
    21ST CENTURY FOX AMER INC B/E 20,061 20,061
    GENERAL MOTORS FINL CO 30,810 30,810
    CITIGROUP INC NTS 27,583 27,583
    HALLIBURTON CO 42,740 42,740
    AMERICAN EXPRESS CREDIT 27,072 27,072
    GOLDMAN SACHS GROUP INC 28,786 28,786
    KINDER MORGAN ENERGY 18,888 18,888
    NORTHRUP GRUMMAN CORP 20,758 20,758
    ENTERPRISE PRODUCTS OPER 27,992 27,992
    BANK OF AMERICA CORP 22,469 22,469
    CAPITAL ONE FINCL CORP 17,286 17,286
    JPMORGAN CHASE & CO B/E 19,398 19,398
    UNITED TECHNOLOGIES CORP 7,547 7,547
    BP CAP MKTS AMER NTS B/E 22,423 22,423
    MARSH & MCLENNAN COS INC 36,526 36,526
    FISERV INC B/E 29,688 29,688
    MORGAN STANLEY B/E 36,492 36,492
    CVS HEALTH CORP NTS 27,125 27,125
    BANK OF AMERICA CORP 16,786 16,786
    CITIGROUP INC. B/E 18,139 18,139
    VERIZON COMM INC. NTS B/E 28,902 28,902
    CIGNA CORP B/E 24,523 24,523
    INTEL CORP NTS B/E 27,601 27,601
    COMCAST CORP NEW B/E 11,563 11,563
    VISA INC. B/E 24,599 24,599
    APPLE INC. NTS B/E OID 22,658 22,658
    COMCAST CORP NTS B/E 22,844 22,844

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABBOTT LABORATORIES 87,592 87,592
    WALMART STOCK 288,300 288,300
    APPLE INC 371,532 371,532
    CLOROX COMPANY 181,728 181,728
    GENERAL DYNAMICS CO 119,056 119,056
    GENERAL ELECTRIC CO 108,000 108,000
    HONEYWELL INTL INC 212,700 212,700
    JOHNSON AND JOHNSON 157,380 157,380
    MC DONALDS CORP 107,290 107,290
    MICROSOFT CORP 222,420 222,420
    MONDELEZ INTL 146,175 146,175
    PROCTOR AND GAMBLE 139,140 139,140
    TEXAS INSTRUMENTS 164,130 164,130
    WASTE MANAGEMENT INC 188,688 188,688
    VERIZON COMMUNICATIONS 105,750 105,750
    AKAMAI TECHNOLOGIES 125,988 125,988
    AMAZON .COM INC. 325,693 325,693
    DOMINION ENERGY INC. 150,400 150,400
    PAYCOM SOFTWARE INC. 90,450 90,450
    QUALCOMM INC. 228,510 228,510

    TY 2020 InvestmentsGovtObligationsSch
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    US Government Securities - End of Year Book Value:

    1,400,438
    US Government Securities - End of Year Fair Market Value:

    1,400,438
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2020 InvestmentsOtherSchedule2
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    APEXONE GROWTH & INCOME FUND II FMV 61,009 61,009
    APEXONE MULTIFAMILY FUND III FMV 94,236 94,236
    ISHARES SELECT DIVIDEND ETF FMV 96,180 96,180
    SELECT SECTOR HEALTH FMV 204,192 204,192

    TY 2020 OtherExpensesSchedule
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    BANK CHARGES 105 32   73
    D&O LIABILITY COVERAGE 771 231   540
    DUES & SUBSCRIPTIONS 2,034 610   1,424
    INVESTMENT FEES - UBS 13,804 13,804    
    MISCELLANEOUS 665 200   465
    TELEPHONE 522 157   365


    TY 2020 TaxesSchedule
    Name:
    DEBUSK FOUNDATION
    EIN:
    75-1671193
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AD VALOREM TAXES 64 19   45
    EXCISE TAXES (990-PF) 11,338      
    PAYROLL TAXES 2,180 654   1,526