TY 2020 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

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-23-2020 , and ending 12-31-2020

Name of foundation
DANA B AND JAMES K GULLEY MEMORIAL

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 2907 - MC 100-01-02-50
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WILSON, NC278942907

A Employer identification number

35-7257918

B Telephone number (see instructions)

(984) 328-8987

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

$2,121,320J 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)	1,855,862
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	42,376		42,102
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		9,391
b	Gross sales price for all assets on line 6a 77,549
7	Capital gain net income (from Part IV, line 2)...			9,391
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	1,907,629		51,493
13	Compensation of officers, directors, trustees, etc.	19,923		9,961		9,962
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........		4,724	0	0	4,724
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		649			649
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		1,121	779		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		95	95
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	26,512		10,835	0	15,335
25	Contributions, gifts, grants paid.......	0				0
26	Total expenses and disbursements. Add lines 24 and 25	26,512		10,835	0	15,335
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,881,117
b	Net investment income (if negative, enter -0-)			40,658
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	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	Savings and temporary cash investments.........		42,092	42,092
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		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)
	b	Investments—corporate stock (attach schedule).......		603,283	1,437,210
	c	Investments—corporate bonds (attach schedule).......		585,049	642,018
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)		1,230,424	2,121,320
	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 )
	23	Total liabilities (add lines 17 through 22).........		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........		1,230,424
	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).....		1,230,424
	30	Total liabilities and net assets/fund balances (see instructions).	0	1,230,424

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

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

1,881,117

Other increases not included in line 2 (itemize) bullet

183

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

1,881,300

Decreases not included in line 2 (itemize) bullet

650,876

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

1,230,424

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	.8 OVINTIV INC COM		2019-02-14	2020-01-29
b	33. AT&T INC			2020-02-10
c	12. ABBOTT LABORATORIES		2016-02-01	2020-02-10
d	16. ABBVIE INC			2020-02-10
e	9. ALLIANCE DATA SYSTEMS CORP			2020-02-10
	22. ALLIANZ SE UNSPONS ADR		2012-06-11	2020-02-10
	11. ANIKA THERAPEUTICS INC			2020-02-10
	5. BANK OF HAWAII CORP		2017-03-07	2020-02-10
	61. BERRY GLOBAL GROUP INC			2020-02-10
	8. BROOKS AUTOMATION INC			2020-02-10
	10. CDW CORP		2016-02-01	2020-02-10
	97. CARNIVAL CORP PAIRED CTF 1 COM		2018-07-13	2020-02-10
	18. CARNIVAL CORP PAIRED CTF 1 COM		2019-03-19	2020-02-10
	16. CENTENE CORP		2019-03-19	2020-02-10
	7. CHEESECAKE FACTORY INC		2019-03-19	2020-02-10
	1. CHUGAI PHARMACEUTICAL CO UNSPONS ADR		2019-03-19	2020-02-10
	8. CINEMARK HOLDINGS INC COMMON		2019-03-19	2020-02-10
	23. DANONE SPONS ADR		2017-03-07	2020-02-10
	21. ENBRIDGE INC		2018-07-13	2020-02-10
	6. EXPEDIA INC COMMON		2019-03-19	2020-02-10
	20. FIRST FINL BANKSHARES INC			2020-02-10
	60. FUCHS PETROLUB SE PFD ADR		2016-02-01	2020-02-10
	6. GRACO INC			2020-02-10
	2. JACK HENRY & ASSOCIATES INC COMMON			2020-02-10
	9. HOULIHAN LOKEY INC CL A		2018-07-13	2020-02-10
	105. ITA UNIBANCO HOLDINGS SPON ADR PFD		2016-02-01	2020-02-10
	9. JONES LANG LA SALLE INC			2020-02-10
	5. LANDSTAR SYSTEM INC COMMON			2020-02-10
	2. LINCOLN ELEC HLDGS INC		2017-03-07	2020-02-10
	14. LIVE NATION ENTERTAINMENT INC		2019-03-19	2020-02-10
	15. LONZA GROUP AG UNSPONS ADR		2018-07-13	2020-02-10
	13. MGM GROWTH PROPERTIES LLC REIT		2018-07-13	2020-02-10
	83. OMNICOM GROUP INCORPORATED			2020-02-10
	28. OVINTIV INC COM		2019-02-14	2020-02-10
	13. PALO ALTO NETWORKS INC			2020-02-10
	189. PFIZER INCORPORATED			2020-02-10
	3. PRIMERICA INC		2019-03-19	2020-02-10
	4. PROCTOR AND GAMBLE COMPANY		2016-02-01	2020-02-10
	1. PROGESSIVE CORP., OHIO COMMON		2018-07-13	2020-02-10
	2. PROLOGIS INC REIT			2020-02-10
	87. PROSUS NV SPONS ADR		2019-09-17	2020-02-10
	67. QUALCOMM INC COMMON			2020-02-10
	4. RLI CORP			2020-02-10
	3. RBC BEARINGS INC			2020-02-10
	39. ROYAL DUTCH SHELL PLC SPONS ADR B		2017-03-07	2020-02-10
	6. SCOTTS CO CL A		2017-03-07	2020-02-10
	4. SITEONE LANDSCAPE SUPPLY INC COMMON		2017-03-07	2020-02-10
	10. UNILEVER PLC-SPONSORED ADR		2011-08-18	2020-02-10
	9. WD40 - COMPANY COMMON			2020-02-10
	21. WABCO HOLDINGS INC COMMON			2020-02-10
	2. WATSCO INC CL A			2020-02-10
	18. WELLS FARGO & CO NEW		2018-03-14	2020-02-10
	168. WEYERHAEUSER COMPANY		2019-03-19	2020-02-10
	8. ALCON INC			2020-02-10
	13. CORE LABORATORIES N V		2019-03-19	2020-02-10
	10. CORE LABORATORIES N V			2020-02-10
	.9 CENTENE CORP		2019-03-19	2020-02-13
	.325 PROLOGIS INC REIT		2016-02-01	2020-02-19
	.5 OLD DOMINION FREIGHT LINE INC		2020-02-10	2020-03-25
	.002 INGERSOLL-RAND INC		2020-02-10	2020-03-31
	9. BOX INC COMMON		2020-02-10	2020-05-15
	99. BOX INC COMMON		2019-03-19	2020-05-15
	2. PREMIER INC CLASS A COMMON		2020-02-10	2020-05-15
	43. PREMIER INC CLASS A COMMON		2018-07-13	2020-05-15
	3. SASOL LTD SPONSORED ADR		2020-02-10	2020-05-15
	41. SASOL LTD SPONSORED ADR			2020-05-15
	70. CINEMARK HOLDINGS INC COMMON			2020-06-22
	4. METHANEX CORP (OCELOT INDS LTD)		2020-02-10	2020-06-22
	31. METHANEX CORP (OCELOT INDS LTD)		2016-02-01	2020-06-22
	.36 SONOVA HOLDING AG UNSPONS ADR		2011-12-27	2020-07-22
	41. HSBC HLDGS PLC ADR		2017-03-07	2020-08-06
	.625 OCCIDENTAL PETROLEUM - WTS 8/03/27		2020-08-03	2020-08-25
	76. BROOKFIELD PROPERTY CL A REIT		2020-02-10	2020-09-15
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	14	25	-11
b	1,262	1,074	188
c	1,052	459	593
d	1,517	984	533
e	940	1,646	-706
	544	200	344
	453	470	-17
	448	427	21
	2,528	2,140	388
	313	252	61
	1,334	383	951
	4,050	5,672	-1,622
	752	1,027	-275
	1,001	1,065	-64
	277	320	-43
	223	137	86
	246	321	-75
	367	303	64
	888	748	140
	652	733	-81
	684	499	185
	666	621	45
	328	232	96
	330	231	99
	507	454	53
	812	408	404
	1,551	1,189	362
	565	458	107
	183	174	9
	1,008	876	132
	623	432	191
	429	400	29
	6,287	3,467	2,820
	464	878	-414
	3,183	1,657	1,526
	7,170	3,775	3,395
	368	375	-7
	506	325	181
	83	59	24
	188	103	85
	1,303	1,333	-30
	5,825	3,841	1,984
	386	251	135
	537	319	218
	2,009	2,177	-168
	732	547	185
	394	160	234
	605	334	271
	1,667	1,037	630
	2,854	2,742	112
	344	334	10
	855	1,020	-165
	4,774	4,290	484
	489	268	221
	443	926	-483
	341	1,051	-710
	57	60	-3
	32	14	18
	62	74	-12

	154	140	14
	1,699	1,981	-282
	60	63	-3
	1,296	1,600	-304
	13	45	-32
	176	1,784	-1,608
	994	2,871	-1,877
	79	127	-48
	609	767	-158
	15	7	8
	876	1,666	-790
	2	4	-2
	872	1,326	-454
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199
			2,199

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			-11
b			188
c			593
d			533
e			-706
			344
			-17
			21
			388
			61
			951
			-1,622
			-275
			-64
			-43
			86
			-75
			64
			140
			-81
			185
			45
			96
			99
			53
			404
			362
			107
			9
			132
			191
			29
			2,820
			-414
			1,526
			3,395
			-7
			181
			24
			85
			-30
			1,984
			135
			218
			-168
			185
			234
			271
			630
			112
			10
			-165
			484
			221
			-483
			-710
			-3
			18
			-12

			14
			-282
			-3
			-304
			-32
			-1,608
			-1,877
			-48
			-158
			8
			-790
			-2
			-454

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	9,391
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

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

Reserved...........................

Reserved,..........................

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	565
c	All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	565
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	565
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	342
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	506
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	848
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	2
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	281
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax281	Refunded	11	0

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 the instructions

for the 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 2020 or the taxable year beginning in 2020? 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. Click to see attachment

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

Yes

Form 990-PF (2020)

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

The books are in care of bullet

BRANCH BANKING AND TRUST COMPANY Telephone no. bullet

(984) 328-8987

Located at bullet

3200 BEECHLEAF CT STE 900RALEIGHNC ZIP+4 bullet

27604

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 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

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 2020?.............

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 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............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 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.)..................

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 2020?

Form 990-PF (2020)

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
BRANCH BANKING AND TRUST COMPANY	TRUSTEE 1	19,923
3200 BEECHLEAF CT STE 900 RALEIGH,NC27604	TRUSTEE 1	19,923

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...................				0

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)

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

1,740,295

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

27,730

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

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

1,768,025

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

1,768,025

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

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

26,520

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

1,741,505

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

87,075

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

87,075

Tax on investment income for 2020 from Part VI, line 5......

565

Income tax for 2020. (This does not include the tax from Part VI.)...

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

565

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

86,510

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

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

86,510

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

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

86,510

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 ..........

15,335

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

15,335

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

15,335

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)

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					86,510
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......	0
b From 2016......	0
c From 2017......	0
d From 2018......	0
e From 2019......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 15,335
a Applied to 2019, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2020 distributable amount.....					15,335
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2020.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........					71,175
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2016....	0
b Excess from 2017....	0
c Excess from 2018....	0
d Excess from 2019....	0
e Excess from 2020....	0

Form 990-PF (2020)

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 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) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

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

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 (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year

Total ................................. 3a

bApproved for future payment

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

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	(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 ...........
4 Dividends and interest from securities....			14	42,376
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	9,391
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)..				51,767

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

51,767

(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 (2020)

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 instructions. 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 (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2020

Name of the organization

DANA B AND JAMES K GULLEY MEMORIAL

Employer identification number

35-7257918

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2

Name of organization DANA B AND JAMES K GULLEY MEMORIAL

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	DANA B GULLEY CRUT P O BOX 2907- MC-100-01-02-50 WILSON, NC278942907	$ 1,855,862	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 3

Name of organization DANA B AND JAMES K GULLEY MEMORIAL		Employer identification number 35-7257918

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
1	VARIOUS SECURITIES	$ 1,773,967	2020-01-23
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Page 4


Name of organization DANA B AND JAMES K GULLEY MEMORIAL			Employer identification number 35-7257918
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2020)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Name of Bond	End of Year Book Value	End of Year Fair Market Value
256210105 DODGE & COX INCOME F	41,309	45,206
258620103 DOUBLELINE TOTAL RET	44,835	43,674
31420B847 FEDERATED INST HI YL	28,348	31,648
592905764 METROPOLITAN WEST T/	34,994	37,745
74441R607 PGIM SH/T RM CORP BD	28,548	29,558
85918D624 STERLING CAPITAL TOT	407,015	454,187

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Name of Stock	End of Year Book Value	End of Year Fair Market Value
02079K107 ALPHABET INC-CL C CO	1,374	8,759
0279K305 ALPHABET INC-CL A COM	1,383	8,763
056752108 BAIDU INC	3,565	5,406
16119P108 CHARTER COMMUNICATIO	4,271	15,877
30303M102 FACEBOOK INC- A COMM	9,509	18,848
538034109 LIVE NATION COMMON	3,065	3,601
88032Q109 TENCENT HOLDINGS LIM	2,399	3,637
92343V104 VERIZON COMMUNICATIO	5,772	8,519
N97284108 YANDEX NV-A	1,804	3,479
00687A107 ADIDAS AG	2,300	3,463
01607W102 ALIBABA GROUP HOLDIN	4,636	16,058
023135106 AMAZON.COM INC COMMO	3,972	58,625
146869102 CARVANA CO COMMON	2,069	8,144
163072101 CHEESECAKE FACTORY C	3,525	2,705
30212P303 EXPEDIA INC COMMON	1,954	2,118
344849104 FOOTLOCKER INC.COMMO	2,114	2,184
37045V100 GENERAL MOTORS CO. C	5,532	7,620
418056107 HASBRO INC COMMON	2,668	3,087
437076102 HOME DEPOT INC COMMO	8,306	11,687
608190104 MOHAWKIND INC COMMON	1,316	4,229
778296103 ROSS STORES INC COMM	3,449	24,562
817565104 SERVICE CORP INTL CO	1,734	3,290
855244109 STARBUCKS CORP COMMO	10,135	27,815
885160101 THOR INDS INC COMMON	2,629	2,790
963320106 WHIRLPOOL CORP COMMO	1,746	5,415
988498101 YUM! BRANDS INC COMM	2,371	4,668
98850P109 YUM CHINA HOLDINGS I	1,876	4,168
G6095L109 APTIV PLC APTIV PLC	2,711	4,560
02319V103 AMBEV SA-ADR	2,362	1,701
147528103 CASEY'S GENERAL STOR	1,237	4,287
191216100 THE COCA-COLA CO	4,998	6,361
23636T100 DANONE SPONS ADR	4,711	4,710
23243Q205 DIAGEO PLC SPONSORED	3,088	3,017
344419106 FOMENTO ECONOMICO ME	1,441	1,212
502117203 L'OREAL UNSPONSORED	1,785	6,237
61174X109 MONSTER BEVERAGE COR	6,787	12,947
635017106 NATIONAL BEVERAGE CO	976	1,104
641069406 NESTLE SA ADR	3,710	7,667
713448108 PEPSICO INC	4,183	9,046
742718109 PROCTER & GAMBLE CO	4,613	7,931
902494103 TYSON FOODS INC	2,579	2,062
90460M204 UNICHARM CORP	1,590	2,085
904767704 UNILEVER PLC-SPONSOR	1,269	2,294
929236107 WD40-COMPANY	2,168	3,720
15872M104 CHAMPIONX CORPORATIO	2,406	1,071
29250N105 ENBRIDGE INC	4,987	5,246
674599105 OCCIDENTAL PETROLEUM	5,474	1,471
69343P105 LUKEOIL PJSC-SPON AD	2,976	2,096
718546104 PHILLIPS 55	6,220	4,406
780259107 ROYAL DUTCH SHELL PL	2,177	1,311
806857108 SCHLUMBERGER LTD	7,831	2,620
N22717107 CORE LABORATORIES N.	2,681	742
194162103 COLGATE PALMOLIVE CO	4,221	5,473
001317205 AIA GROUP LTD	2,771	10,194
018820100 ALLIANZ SOOCIETAS EU	1,918	5,182
025816109 AMERICA EXPRESS CO	1,251	2,660
05946K101 BANCO BILBAO VIZCAYA	4,182	3,191
062540109 BANK OF HAWAII CORP	3,399	3,141
09247X101 BLACKROCK INC	2,500	11,545
174610105 CITIZENS FINANCIAL	2,909	5,006
23304Y100 DBS GROUP HLDS LTD S	2,397	4,471
254709108 DISCOVER FINANCIAL S	6,665	11,588
303075105 FACT RESEARCH SYSTEM	2,400	5,320
32020R109 FIRST FINANCIAL BANK	3,235	4,558
33616C100 FIRST REPUBLIC BANK	2,634	4,996
40415F101 HDFC BANK LTD ADR	1,635	2,385
416515104 HARTFORD FINL SVCS G	2,977	2,841
441593100 HOULIHAN LOKEY INC	3,120	4,504
45104G104 ICICI BANK LIMITED S	1,481	2,913
465562106 ITAU UNIBANCO BANCO	801	1,255
631103108 NASDAQ INC	4,992	8,894
74164M108 PRIMERICA INC	2,666	3,616
743315103 PROGRESSIVE CORP	2,464	4,153
749607107 RLI CORP	1,889	3,125
784117103 SEI INVESTMENTS COMP	3,787	5,287
82669G104 SIGNATURE BANK	3,085	8,117
85571B105 STARWOOD PROPERTY TR	3,944	3,320
89417E109 THE TRAVELERS COMPAN	3,428	14,037
949746101 WELLS FARGO & CO	6,228	3,742
957638109 WESTERN ALLIANCE BAN	2,600	4,077
G0450A105 ARCH CAPITAL GROUP L	1,283	3,391
H1467J104 CHUBB LIMITED PROSPE	7,828	8,773
002824100 ABBPTT LABORATORIES	3,072	13,139
00287Y109 ABBVIE INC	2,223	9,536
015351109 ALEXION PHARMACEUTIC	2,374	2,969
03073E105 AMERISOURCEBERGEN CO	1,278	3,031
031162100 AMGEN INC	1,784	4,598
035255108 ANIKA THERAPEUTICS I	1,479	1,991
036752103 ANTHEM INC	3,382	13,165
090572207 BIO-RAD LABS CLASS A	2,487	4,664
09061G101 BIOMARIN PHARMACEUTI	2,620	3,157
126650100 CVS	4,124	3,483
15678214 CERNER CORP	4,283	5,808
171269103 CHUGAI PHARMACEUTIC	2,189	5,117
444859102 HUMANA INC	1,411	8,205
478160104 JOHNSON & JOHNSON	4,795	9,128
54338V101 LONZA GROUP AG ADR	2,446	5,470
58933Y105 MERCK & CO INC	7,389	9,980
66987V109 NOVARTIS AG ADR	1,938	3,777
74112D101 PRESTIGE CONSUMER HE	1,068	4,184
75886F107 REGENERON PHARMACEUT	6,248	8,213
771195104 ROCHE HOLDING LTD AD	4,035	7,691
670100205 NOVO-NORDISK AS ADR	4,623	8,941
83569C102 SONOVA HOLDING AG	1,107	2,810
87166B102 SYNEOS HEALTH INCH	1,709	2,657
87184P109 SYSMEX CORP	1,986	3,663
92220P105 VARIAN MED SYS INC	3,173	8,050
G4705A100 ICON PLC	2,046	3,120
00912X302 AIR LEASE CORP	1,668	2,621
011659109 ALASKA AIR GROUP INC	2,876	2,184
015393101 ALFA LAVAL AB-UNSPON	1,591	2,342
031100100 AMETEK INC	1,842	4,112
049255706 ATLAS COPCO AM SPONS	3,199	6,614
136375102 CANADIAN NATL RY CO	1,489	4,064
172908105 CINTAS CORPORATION	2,910	35,346
244199105 DEERE & COMPANY	4,440	10,224
29429L105 EPIROC AB-UNSP ADR	670	1,203
302130109 EXPEDITORS INTL WASH	3,840	8,370
30730512 FANUC LTD ADR	1,237	2,014
384109104 GRACO INC	2,240	4,124
438516106 HONEYWELL INTERNATIO	3,335	10,848
452308109 ILLINOIS TOOLS WORKS	3,112	14,272
45687V106 INGERSOLL-RAND INC C	828	1,367
500458401 KOMATSU LTD	1,348	1,528
501173207 KUBOTA CORPORATION	2,439	3,488
502431109 L3HARRIS TECHNOLOGIE	3,158	4,726
515098101 LANDSTAR SYSTEM INC	3,211	4,444
533900106 LINCOLN ELECTRIC HOL	1,381	1,860
575385109 MASONITE INTERNATION	2,294	3,344
679580100 OLD DOMINION FRIEGHT	2,082	3,708
75524B104 RBC BEARINGS INC	2,883	4,655
773903109 ROCKWELL AUTOMATION	1,332	3,261
82982L103 SITEONE LANDSCAPE SU	3,066	9,835
879360105 TELEDYNE TECHOLOGIES	1,114	3,920
891092108 TORO COMPANY	1,922	15,174
911312106 UNITED PARCEL SERVIC	6,724	12,125
94106B101 WASTE CONNECTIONS IN	2,398	2,872
94106L109 WASTE MANAGEMENT INC	4,611	17,690
942622200 WATSCO INC	2,673	4,304
G8994E103 TRANE TECHNOLOGIES P	2,856	4,935
032654105 ANALOG DEVICES INC	7,810	11,966
037833100 APPLE INC	10,317	85,452
045327103 ASPEN TECH	3,374	3,387
052769106 AUTODESK INC	2,582	23,511
053015103 AUTOMATIC DATA PROCE	1,258	2,467
056525108 BADGER METER INC	2,935	6,114
114340102 BROOKS AUTOMATION IN	2,983	6,785
12514G108 CDW CORP OF DELAWARE	1,938	6,062
17275R102 CISCO SYSTEMS INC	4,878	6,176
237545108 DASSAULT SYSTEMS	4,612	23,785
426281101 JACK HENRY & ASSOCIA	1,180	1,944
44980X109 IPG PHOTONICS CORP	1,311	3,133
45662N103 INFINEON TECHNOLOGY	4,630	6,875
49338L103 KEYSIGHT TECHNOLOGIE	2,639	3,699
512807108 LAM RESEARCH CORP	2,757	6,612
57772K101 MAXIM INTEGRATED PRO	2,767	8,333
594918104 MICROSOFT CORP	8,239	73,399
67066G104 NVIDIA CORP	4,031	12,011
68389X105 ORACLE CORP	7,227	13,908
747525103 QUALCOMM INC	4,299	13,711
803054204 SAP SE ADR	2,241	5,476
848637104 SPLUNK INC	2,143	3,228
874039100 TAIWAN SEMICONDUCTOR	4,324	41,762
882508104 TEXAS INSTRUMENTS IN	2,302	14,772
92826C839 VISA INC CLASS A SHA	7,856	19,248
983919101 XILINX INC	1,195	5,387
G02602103 AMDOC LTD SC	2,901	7,802
G1151C101 ACCENTURE PLC IRELAN	6,425	12,799
M22465104 CHECKPOINT SOFTWARE	2,802	5,848
009126202 AIR LIQUIDE	2,724	5,355
35952Q106 FUCHS PETROLU SE-PRE	849	1,165
670108109 NOVOZYMES A/S UNSPON	1,551	1,724
810186106 SCOTTS CO CL A	4,195	9,957
87155N109 SYMRISE AG ADR	1,635	3,349
G5494J103 LINDE PLC	2,770	4,216
L0223L101 ARDAGH GROUPD SA	1,448	1,463
674599162 OCCIDENTAL PETROLEUM	57	68
464288273 ISHARES MSCI EAFE SM	13,984	27,340
015271109 ALEXANDRIA REALESTAT	2,451	5,168
22822V101 CROWN CASTLE INTL CO	5,570	9,392
48020Q107 JONES LANG LA SALLE	1,741	2,077
55303A105 MGM GROWTH PROPERTIE	3,856	4,194
74340W103 PROLOGIS INC	1,045	2,392
929042109 VORNADO REALTY TRUST	1,885	859
023608102 AMEREN CORPORATION	2,811	2,966
2333331107 DTE ENERGY COMPANY	1,805	1,943
30040W108 EVERSOURCE ENERGY	2,613	3,979
816851109 SEMPRA ENERGY	2,448	6,371
92939U106 WEC ENERGY GROUP INC	2,727	8,283

- TIN:

TY 2020 LegalFeesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES - PRINCIPAL (ALLOCA	4,724			4,724

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TY 2020 OtherDecreasesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Description	Amount
2020 TRANSACTION POSTED IN 2021	1,528
RETURN OF CAPITAL ADJUSTMENT	77
FMV TO BOOK ADJUSTMENT FOR CONTRIBUTION	649,271

- TIN:

TY 2020 OtherExpensesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE	95	95		0

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Description	Amount
MUTUAL FUND EARNINGS	180
ROUNDING	3

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER NON-ALLOCABLE EXPENSE -	649			649

- TIN:

TY 2020 SubstantialContributorsSch

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Name	Address
DANA B GULLEY CRUT	P O BOX 2907- MC-100-01-02-50 WILSON,NC278942907

- TIN:

TY 2020 TaxesSchedule

Name:

DANA B AND JAMES K GULLEY MEMORIAL

EIN:

35-7257918

Category	Amount	Net Investment Income
FOREIGN TAXES	735	735
FEDERAL ESTIMATES - PRINCIPAL	342	0
FOREIGN TAXES ON QUALIFIED FOR	41	41
FOREIGN TAXES ON NONQUALIFIED	3	3