Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
JOHN B & BROWNIE YOUNG MEMORIAL FUND
 
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

61-6025137
B Telephone number (see instructions)

(270) 688-7878
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$17,617,398J 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) 47,381
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 379,238 378,147  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 350,795
b Gross sales price for all assets on line 6a 4,235,963
7 Capital gain net income (from Part IV, line 2)... 350,795
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........ 777,414 728,942  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 77,008 34,504   42,504
14 Other employee salaries and wages......   0 0 0
15 Pension plans, employee benefits.......   0 0  
16a Legal fees (attach schedule)......... Click to see attachment 9,035 0 0 9,035
b Accounting fees (attach schedule)....... Click to see attachment 1,200 0 0 1,200
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 27,350 5,795   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications.......... 3,004 0 0 3,004
23 Other expenses (attach schedule)....... Click to see attachment 353 353    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 117,950 40,652 0 55,743
25 Contributions, gifts, grants paid....... 392,238 392,238
26 Total expenses and disbursements. Add lines 24 and 25 510,188 40,652 0 447,981
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 267,226
b Net investment income (if negative, enter -0-) 688,290
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 284,706 479,992 479,992
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet     0 0
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet0      
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 8,269,280 Click to see attachment3,016,047 4,192,933
c Investments—corporate bonds (attach schedule)....... 5,587,927 Click to see attachment5,638,801 5,937,446
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........   Click to see attachment5,296,523 7,007,027
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) 14,141,913 14,431,363 17,617,398
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 14,141,913 14,431,363
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)..... 14,141,913 14,431,363
30 Total liabilities and net assets/fund balances (see instructions). 14,141,913 14,431,363
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
14,141,913
2
Enter amount from Part I, line 27a .....................
2
267,226
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
28,909
4
Add lines 1, 2, and 3 ..........................
4
14,438,048
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
6,685
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
14,431,363
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 82702.5 U.S. TREASURY TIPS 0.625% 1/15/24   2016-06-01 2020-01-10
b 48000. HYATT HOTELS CORP DTD 08/16/2018 4.375%     2020-02-03
c 55000. CONAGRA BRANDS INC DTD 10/22/2018 4.6% 1   2019-04-22 2020-02-11
d 55000. U.S. TREASURY NOTES 2.875% 8/15/28   2019-08-08 2020-02-24
e 14000. US TREASURY NOTE DTD 2/28/2014 2% 02/28/   2019-05-06 2020-02-25
60000. US TREASURY NOTE DTD 02/01/2016 1.375% 0     2020-02-25
61000. US TREASURY BILL DTD 02/28/2019 0% 02/27   2020-02-24 2020-02-27
26000. US TREASURY NOTE DTD 2/28/2014 2% 02/28/   2019-05-06 2020-02-28
64000. U.S. TREASURY NOTES 2.375% 5/15/29   2020-02-25 2020-03-03
32000. U.S. TREASURY NOTES 2.375% 5/15/29     2020-03-06
65000. US TREASURY BILL DTD 02/04/2020 0% 03/31     2020-03-10
8000. U.S. TREASURY NOTES 2.625% 12/31/25   2019-05-09 2020-03-24
55000. U.S. TREASURY NOTES 2.375% 8/15/24   2019-08-15 2020-03-24
75000. CINTAS CORP NO.2 3.700% 4/01/27   2017-07-11 2020-03-30
43000. US TREASURY BILL DTD 02/04/2020 0% 03/31   2020-03-03 2020-03-31
58000. US TREASURY NOTE DTD 2/28/2014 2% 02/28/     2020-04-30
1360. AGCO CORPORATION COMMON   2015-03-12 2020-05-08
321. AT&T INC   2016-05-19 2020-05-08
1155. AT&T INC   2019-10-18 2020-05-08
684. ABBVIE INC     2020-05-08
142. ALIBABA GROUP HLDG LTD     2020-05-08
11. ALPHABET INC CL A   2018-01-23 2020-05-08
15. AMAZON INC COMMON   2016-12-21 2020-05-08
140. APPLE COMPUTER CORPORATION COMMON     2020-05-08
433. AUTODESK, INC. COMMON   2017-06-19 2020-05-08
800. BCE INC COM     2020-05-08
1030. BP AMOCO PLC ADS L C   2019-10-18 2020-05-08
42. BP AMOCO PLC ADS L C   2018-05-18 2020-05-08
455. CDN IMPERIAL BK OF COMMERCE   2019-10-18 2020-05-08
62. CDN IMPERIAL BK OF COMMERCE   2018-09-11 2020-05-08
177. CHEVRON TEXACO CORP COMMON   2019-10-18 2020-05-08
949. CISCO SYSTEMS   2020-05-08 2020-05-08
612. COCA COLA COMPANY     2020-05-08
115. COCA COLA COMPANY   2019-10-18 2020-05-08
350. CROWN CASTLE INTL CORP REIT   2017-11-22 2020-05-08
125. DOMINION RESOURCES INC/VA COMMON   2019-10-18 2020-05-08
365. DOMINION RESOURCES INC/VA COMMON   2017-11-22 2020-05-08
215. DUKE ENERGY CORP   2019-10-18 2020-05-08
361. DUKE ENERGY CORP   2018-09-11 2020-05-08
616. EXPEDITORS INTERNATIONAL   2018-05-18 2020-05-08
510. EXXON MOBIL CORPORATION   2019-10-18 2020-05-08
146. FACEBOOK INC CL A     2020-05-08
866. GLAXO PLC   2018-05-18 2020-05-08
350. GLAXO PLC   2019-10-18 2020-05-08
300. IDEX CORP   2012-03-13 2020-05-08
2. I SHARES EAFE INDEX FUND   2014-09-19 2020-05-08
117. I SHARES EAFE INDEX FUND   2019-10-18 2020-05-08
1040. ISHARES RUSSELL MIDCAP INDEX FUND     2020-05-08
161. ISHARES RUSSELL 1000 GROWTH INDEX     2020-05-08
5064. CEF ISHARES TR S&P     2020-05-08
48. ISHARES TR MSCI SMALL CAP ETF   2019-03-22 2020-05-08
455. ISHARES TR MSCI EAFE GROWTH ETF   2019-03-22 2020-05-08
96. ISHARES TR MSCI EAFE GROWTH ETF   2019-10-18 2020-05-08
457. MICROSOFT CORPORATION   2015-10-16 2020-05-08
998. MONSTER BEVERAGE CORP   2017-06-19 2020-05-08
1850. NOVO-NORDISK A S ADR   2017-11-22 2020-05-08
772. ORACLE SYSTEM CORPORATION     2020-05-08
52. PHILIP MORRIS INTERNATIONAL   2018-01-23 2020-05-08
310. PHILIP MORRIS INTERNATIONAL   2019-10-18 2020-05-08
480. PROCTOR AND GAMBLE COMPANY   2016-05-19 2020-05-08
942. QUALCOMM INC COMMON   2016-12-21 2020-05-08
3. S & P 500 DEPOSITARY RECEIPT COMMON   2013-10-11 2020-05-08
366. SPDR PORTFOLIO DEVELOPED WORLD ETF   2019-03-22 2020-05-08
453. SOUTHERN COMPANY   2018-12-18 2020-05-08
459. STARBUCKS CORPORATIONS COMMON   2018-12-18 2020-05-08
122. UNITED PARCEL SERVICES B   2019-04-09 2020-05-08
1160. VENTAS INC COMMON   2018-12-18 2020-05-08
370. VERIZON COMMUNICATIONS INC   2019-10-18 2020-05-08
527. VERIZON COMMUNICATIONS INC   2016-05-19 2020-05-08
130. VISA INC   2016-12-21 2020-05-08
63000. U.S. TREASURY NOTES 2.500% 5/15/24   2019-08-30 2020-05-13
15000. FED NATL MTG ASSN DTD 02/05/2016 1.375%   2016-08-11 2020-05-26
57000. US TREASURY NOTE DTD 2/28/2014 2% 02/28/   2019-05-02 2020-05-26
55000. PIONEER NATURAL RESOURCES DTD 06/26/2012 CALLABLE 3.95% 07/15/2   2018-06-13 2020-05-27
55000. MARYLAND ST BDS SECOND SERIES A DTD 08/28/2019 5% 08/01/2026   2020-03-24 2020-06-05
5000. U.S. TREASURY NOTES 1.625% 8/15/29   2020-02-28 2020-06-09
17000. U.S. TREASURY NOTES 2.000% 2/15/23   2019-05-10 2020-06-12
43000. U.S. TREASURY NOTES 2.000% 2/15/23   2019-07-22 2020-06-12
10000. U.S. TREASURY NOTES 2.500% 8/15/23   2016-08-11 2020-06-12
85000. U.S. TREASURY NOTES 1.625% 8/15/29   2020-02-28 2020-06-16
31000. U S TREASURY NOTES 3.125% 05/15/21     2020-07-02
50000. CROWN CASTLE INTL CORP DTD 04/15/2014 4.   2017-07-11 2020-07-06
560. ISHARES TR HIGH YLD CORP   2020-05-26 2020-07-28
531. ISHARES TR HIGH YLD CORP   2020-05-26 2020-07-31
43000. SHIRE ACQ INV IRELAND DA DTD 09/23/2016   2019-06-10 2020-08-10
56000. GOLDMAN SACHS GROUP INC DTD 02/25/2016 2   2016-02-22 2020-08-28
49000. U.S. TREASURY NOTES 2.625% 12/31/25   2019-05-09 2020-09-21
60000. U.S. TREASURY NOTES 2.375% 8/15/24   2019-08-15 2020-09-21
49000. U S TREASURY NOTES 3.125% 05/15/21     2020-09-25
60000. SIMON PROP GP LP 2.625% 6/15/22   2017-11-15 2020-10-05
55000. U S TREASURY NOTES 3.125% 05/15/21     2020-10-07
55000. U S TREASURY NOTES 3.125% 05/15/21   2014-01-30 2020-10-14
107000. U.S. TREASURY NOTES 2.500% 5/15/24     2020-10-14
17000. PROCTER & GAMBLE CO DTD 03/23/2020 2.45%     2020-10-29
6000. U.S. TREASURY NOTES 2.375% 5/15/29   2019-11-29 2020-11-04
26000. U.S. TREASURY NOTES 2.375% 5/15/29   2019-08-14 2020-11-04
16000. SHIRE ACQ INV IRELAND DA DTD 09/23/2016   2019-06-10 2020-11-13
.504 VIATRIS INC   2020-05-08 2020-11-19
75000. AT&T INC 4.125% 2/17/26   2016-02-02 2020-11-20
54000. REPUBLIC SERVICES INC SERVICES INC DTD 05/21/2012 CALLABLE 3.55     2020-12-09
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(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 84,654   85,142 -488
b 53,299   47,932 5,367
c 61,879   57,532 4,347
d 61,772   59,928 1,844
e 14,093   13,957 136
60,012   59,504 508
60,995   60,995  
26,236   25,921 315
71,782   69,760 2,022
36,640   34,226 2,414
64,972   64,961 11
8,892   8,122 770
59,301   57,194 2,107
76,731   77,136 -405
42,965   42,965  
58,883   57,837 1,046
69,548   64,349 5,199
9,538   12,317 -2,779
34,318   43,967 -9,649
56,950   44,958 11,992
28,669   15,280 13,389
15,226   12,885 2,341
35,634   11,539 24,095
43,287   7,072 36,215
79,437   45,860 33,577
32,612   37,305 -4,693
24,725   38,670 -13,945
1,008   1,989 -981
27,198   38,479 -11,281
3,706   5,822 -2,116
16,855   20,376 -3,521
40,607   40,634 -27
28,179   28,734 -555
5,295   6,322 -1,027
54,754   38,907 15,847
9,745   10,261 -516
28,457   29,830 -1,373
17,507   20,471 -2,964
29,395   29,467 -72
46,110   44,473 1,637
23,437   34,554 -11,117
30,915   18,621 12,294
36,279   34,737 1,542
14,662   14,872 -210
46,302   12,666 33,636
113   132 -19
6,628   7,756 -1,128
52,013   50,161 1,852
28,394   13,316 15,078
320,189   308,461 11,728
2,387   2,745 -358
34,864   34,808 56
7,356   7,807 -451
84,158   21,619 62,539
65,657   50,426 15,231
115,904   96,092 19,812
41,314   36,340 4,974
3,743   5,689 -1,946
22,316   25,253 -2,937
55,422   38,398 17,024
75,523   63,183 12,340
876   510 366
9,387   10,652 -1,265
24,960   20,628 4,332
35,363   29,791 5,572
11,532   13,760 -2,228
34,762   71,419 -36,657
21,014   22,600 -1,586
29,931   26,102 3,829
24,025   10,163 13,862
68,579   65,664 2,915
15,131   15,019 112
57,810   56,849 961
57,475   55,348 2,127
69,455   62,283 7,172
5,382   5,215 167
17,806   16,874 932
45,039   43,250 1,789
10,716   10,343 373
92,022   88,655 3,367
31,788   31,305 483
53,700   51,822 1,878
47,378   45,959 1,419
45,157   43,579 1,578
43,937   42,821 1,116
56,582   55,907 675
54,962   49,688 5,274
65,067   62,131 2,936
49,934   49,314 620
61,664   60,104 1,560
55,999   55,300 699
55,971   55,281 690
115,777   109,753 6,024
18,287   17,026 1,261
6,848   6,275 573
29,676   27,636 2,040
16,250   15,933 317
9   8 1
87,204   75,215 11,989
56,475   54,271 2,204
      2,591
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      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
      2,591
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       -488
b       5,367
c       4,347
d       1,844
e       136
      508
       
      315
      2,022
      2,414
      11
      770
      2,107
      -405
       
      1,046
      5,199
      -2,779
      -9,649
      11,992
      13,389
      2,341
      24,095
      36,215
      33,577
      -4,693
      -13,945
      -981
      -11,281
      -2,116
      -3,521
      -27
      -555
      -1,027
      15,847
      -516
      -1,373
      -2,964
      -72
      1,637
      -11,117
      12,294
      1,542
      -210
      33,636
      -19
      -1,128
      1,852
      15,078
      11,728
      -358
      56
      -451
      62,539
      15,231
      19,812
      4,974
      -1,946
      -2,937
      17,024
      12,340
      366
      -1,265
      4,332
      5,572
      -2,228
      -36,657
      -1,586
      3,829
      13,862
      2,915
      112
      961
      2,127
      7,172
      167
      932
      1,789
      373
      3,367
      483
      1,878
      1,419
      1,578
      1,116
      675
      5,274
      2,936
      620
      1,560
      699
      690
      6,024
      1,261
      573
      2,040
      317
      1
      11,989
      2,204
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 350,795
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 9,567
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 9,567
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 9,567
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 16,404
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 16,404
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,837
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet6,837 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletKY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletBRANCH BANKING AND TRUST COMPANY Telephone no.bullet (270) 688-7878

    Located atbullet100 W 3RD STOWENSBOROKY ZIP+4bullet42303
    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
     
    No
    .........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
    BRANCH BANKING AND TRUST COMPANY TRUSTEE
    12     		69,008    
    100 W 3RD ST
    OWENSBORO,KY42303
    DAVIESS CO BOE COMMITTEE MEMBER
    0     		2,000    
    PO BOX 21510
    OWENSBORO,KY42304
    MCLEAN COUNTY BOE COMMITTEE MEMBER
    0     		2,000    
    PO BOX 245
    CALHOUN,KY42327
    OWENSBORO BOE COMMITTEE MEMBER
    0     		2,000    
    450 GRIFFITH AVE
    OWENSBORO,KY42301
    OWNESBORO CATHOLIC SCHOOL COMMITTEE MEMBER
    0     		2,000    
    600 LOCUST STREET
    OWENSBORO,KY42301
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    15,453,185
    b
    Average of monthly cash balances.......................
    1b
    472,608
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    15,925,793
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    15,925,793
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    238,887
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    15,686,906
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    784,345
    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
    784,345
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    9,567
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    9,567
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    774,778
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    27,710
    5
    Add lines 3 and 4............................
    5
    802,488
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    802,488
    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
    447,981
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
    0
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
    0
    b
    Cash distribution test (attach the required schedule) .................
    3b
    0
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    447,981
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    447,981
    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 7 802,488
    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...... 52,606
    b From 2016...... 229,256
    c From 2017...... 107,577
    d From 2018...... 158,198
    e From 2019...... 172,265
    fTotal of lines 3a through e........ 719,902
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 447,981
    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..... 447,981
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 354,507 354,507
    (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 5 365,395
    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 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 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 ......     		365,395
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 34,932
    c Excess from 2018.... 158,198
    d Excess from 2019.... 172,265
    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).)
    NONE
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    NONE
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    BBT WEALTH MGMT DIVISION
    100 W 3RD ST
    OWENSBORO,KY42303
    (270) 688-7878
    bThe form in which applications should be submitted and information and materials they should include:
    COMPLETED APPLICATION ALONG WITH TRANSCRIPT OF GRADES AND ACT/SAT SCORES
    cAny submission deadlines:
    ACADEMIC SCHOOL YEAR
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    UNMARRIED, FULL-TIME STUDENTS LOCATED IN OWENSBORO, KY, DAVIES CO, KY OR MCLEAN CO, KY SCHOOL DISTRICTS
    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
    OWENSBORO CATHOLIC SCHOOL DIOCESE
    600 LOCUST STREET
    OWENSBORO,KY42301     		NONE PC GENERAL PURPOSE 1,000
    OWENSBORO BOARD OF EDUCATION
    450 GRIFFITH AVE
    OWENSBORO,KY42301     		NONE PC GENERAL SUPPORT 500
    DAVIESS COUNTY BOARD OF EDUCATION
    1622 SOUTHEASTERN PARKWAY
    OWENSBORO,KY42303     		NONE PC GENERAL 1,500
    MCLEAN COUNTY BOARD OF EDUCATION
    410 KY-136 EAST
    CALHOUN,KY42327     		NONE PC GENERAL 500
    SEE ATTACHED SCHEDULE
    P O BOX 2907
    WILSON,NC27894     		NONE I SCHOLARSHIPS 388,738
    Total .................................bullet 3a 392,238
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 379,238  
    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 ............     		    18 350,795  
    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)..   730,033  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    730,033
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
     
    Employer identification number

    61-6025137
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number
    61-6025137
    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
    GATES YOUNG TRUST
     
    PO BOX 94715
     
    CLEVELAND, OH44101

    		$ 47,381


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number

    61-6025137
    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
     
    		$    
    (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
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
          		Employer identification number

    61-6025137
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    TAX PREPARATION FEE (NON-ALLOC 1,200     1,200

    TY 2020 InvestmentsCorpBondsSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Name of Bond End of Year Book Value End of Year Fair Market Value
    3130AFFX0 FED HOME LOAN BANK D 76,408 89,691
    3134G0J20 FED NATL MTG ASSN DT 110,041 110,202
    3135G0K36 FED NATL MTG ASSN DT 57,441 65,370
    3135G0ZR7 FED NATL MTG ASSN DT 126,230 135,953
    3137EADB2 FED HOME LOAN MTG CO 125,404 127,890
    9128282A7 US TREASURY NOTE DTD 70,369 70,944
    9128286T2 US TREASURY NOTE DTD 54,373 58,768
    912828B66 US TREASURY NOTE DTD 93,515 97,218
    912828N30 US TREASURY NOTE DTD 90,993 94,623
    912828V72 US TREASURY NITE DTD 60,076 61,135
    912828VS6 US TREASURY NOTE DTD 92,049 95,533
    912828XG0 US TREASURY NOTE DTD 50,223 51,496
    912828ZQ6 US TREASURY DTD 5/15 59,733 58,660
    91282CAE1 UNITED STATES TREASU 60,071 59,475
    041431VG9 ARLINGTON CNTY VA TX 151,259 152,592
    118565YT0 BUCKS CNTY PA TXBL D 75,000 75,420
    167593S86 CHICAGO IL TXBL DTD 60,000 60,325
    347622CW0 FORT LAUDERDALE FL D 60,675 60,994
    442349EM4 HOUSTON TEX ARPT SYS 125,000 126,220
    3135G0T94 FED NATL MTG ASSN DT 59,491 62,748
    64578ELN5 NEW JERSEY ST ECON D 76,382 81,645
    64971Q7G2 NEW YORK CITY NY TRA 85,253 89,289
    649907XX5 NEW YORK ST DORM AUT 101,703 112,451
    655867G45 NORFOLK VA TXBL-DER 62,588 62,534
    975680EX3 WINSTON SALEM NC LTD 75,000 82,729
    02007RAC3 ALLY AUTO RECEIVABLE 69,998 71,125
    05522RDB1 BANK OF AMERICA CREI 69,983 71,722
    14041NFT3 CAPITAL ONE MULTI-A 67,219 66,902
    34531KAD4 FORD CREDIT AUTO OWN 59,997 61,170
    254683CM5 DISCOVER CARD SERIES 59,987 61,755
    00206RJX1 AT&T INC DTD 05/28/2 59,161 59,726
    00287YBF5 ABBVIE INC DTD 5/28/ 57,030 67,139
    025537AJ0 AMERICAN ELECTRONIC 59,097 66,076
    05526DBB0 BAT CAPITAL CORP DTD 53,340 56,787
    06051GEU9 BANK OF AMERICA CORP 57,477 60,432
    126650CU2 CVS HEALTH CORP DTD 57,536 61,463
    14040HBG9 CAPITAL ONE FINANCIA 56,648 60,013
    142339AG5 CARLISLE COS INC DTD 50,069 54,808
    172967HT1 CITIGROUP INC DTD 6/ 75,468 82,961
    191216CU2 THE COCA COLA CO DTD 59,927 61,976
    20030NBJ9 COMCAST CORP DTD 02/ 57,926 61,611
    21036PBC1 CONSTELLATION BRANDS 57,507 67,015
    22822VAR2 CROWN CASTLE INTL CO 60,067 59,322
    26441CAL9 DUKE ENERGY CORP DTD 55,509 59,793
    26884ABA0 ERP OPEATING LP DTD 59,926 63,180
    29273RAQ2 ENERGY TRANSFER PART 44,786 45,638
    313747BA4 FEDERAL REALTY DTD 0 59,223 60,899
    337738AT5 FISERV INC DD 6/24/2 60,093 67,211
    37045XCL8 GENERAL MOTORS FINL 63,465 63,473
    38141GXG4 GOLDMAN SACHS GROUP 59,538 60,236
    436106AA6 HOLLY FRONTIER CORP 26,303 27,918
    446150AM6 HUNTINGTON BANCSHARE 64,796 73,595
    46625HJH4 JP MORGAN CHASE & CO 60,562 63,517
    49326EEJ8 KEYCORP DTD 9/11/201 58,126 64,985
    49446RAN9 KIMCO REALTY CORP DT 57,742 59,837
    49456BAP6 KINDER MORGAN INC DT 59,022 60,984
    548661DM6 LOWE'S COS INC DTD 4 59,728 59,643
    58933YAZ8 MERCK&CO INC DTD 6/2 59,485 60,835
    6174468C6 MORGAN STANLEY DTD 4 57,988 62,940
    670346AP0 NUCOR CORP DTD 04/26 34,948 41,173
    67066GAF1 NVIDIA CORP DTD 7/7/ 58,642 62,997
    68389XBK0 ORACLE CORP DTD 7/7/ 44,922 45,453
    74432QCC7 PRUDENTIAL FINANCIAL 58,429 64,670
    7591EPAQ3 REGIONS FINANCIAL CO 59,817 63,629
    78355HKK4 RYDER SSTEM INC DTD 54,966 60,037
    824348AW6 SHERWIN-WILLIAMS CO 74,728 84,731
    913017CY3 UNITED TECHNOLOGIES 65,243 71,530
    92277GAN7 VENTAS REALTY LP DTD 57,380 64,504
    927804FK5 VIRGINIA ELEC & POWE 59,609 61,229
    949746SH5 WELLS FARGO & CO DTD 58,625 65,370
    36367WMQ3 BANK OF MONTREAL DTD 54,992 58,622
    46132FAA8 INVESCO FINANCE PLC 54,756 57,764
    822582CD2 SHELL INTERNATIONAL 59,576 64,594
    86562MAM2 SUMITOMO MITSUI FINL 54,850 56,379
    89114QCA4 TORONTO DOMINION BAN 59,388 63,220
    85917K744 STERLINGTON CAPITAL 673,924 700,952

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Name of Stock End of Year Book Value End of Year Fair Market Value
    00206R102 AT&T INC COMMON 121,297 95,454
    00287Y109 ABBVIE INC COMMON 89,974 136,723
    02079K305 ALPHABET INC -CL A C 86,682 129,695
    023135106 AMAZON.COM INC COMMO 50,001 211,700
    037833100 APPLE INC COMMON 14,023 153,920
    052769106 AUTODESK INC COMMON 54,359 150,227
    097023105 THE BOEING COMPANY C 54,255 87,336
    166764100 CHEVRON CORP COMMON 111,016 80,059
    17275R102 CISCO SYSTEMS INC CO 83,049 121,317
    191216100 THE COCA-COLA CO COM 73,610 89,280
    22822V101 CROWN CASTLE INTL CO 39,892 57,308
    244199105 DEERE & COMPANY COMM 54,714 107,082
    25746U109 DOMINION ENERGY INC 91,256 85,352
    26441C204 DUKE ENERGY CORP COM 74,605 83,686
    302130109 EXPEDITORS INTL WASH 49,743 65,531
    30231G102 EXXON MOBIL CORP COM 140,931 67,807
    30303M102 FACEBOOK INC-A COMMO 70,751 162,257
    45167R104 IDEX CORP COMMON 13,510 63,744
    594918104 MICROSOFT CORP COMMO 24,978 117,438
    61174X109 MONSTER BEVERAGE COR 53,482 98,214
    67066G104 NVIDIA CORP COMMON 77,994 131,072
    68389X105 ORACLE CORP COMMON 76,310 109,844
    717081103 PFIZER INC COMMON 85,932 89,743
    718172109 PHILIP MORRIS INTL I 124,539 107,875
    742718109 PROCTER & GAMBLE CO 37,179 66,092
    747525103 QUALCOMM INC COMMON 35,354 80,436
    75886F107 REGENERON PHARMACUET 91,318 78,264
    79466L302 SALESFORCE.COM INC I 83,786 106,592
    842587107 SOUTHERN CO COMMON 52,686 71,075
    855244109 STARBUCKS CORP COMMO 33,816 55,737
    911312106 UNITED PARCEL SERVIC 79,288 118,385
    92343V104 VERIZON COMMUNICATIO 79,831 97,408
    92556V106 VIATRIS INC COM 4,912 5,659
    92826C839 VISA INC CLASS A SHA 58,243 162,954
    01609W102 ALIBABA GROUP HOLDIN 51,013 132,191
    05534B760 BCE INC 84,205 79,394
    055622104 BP P.L.C. SPONS ADR 120,762 53,927
    110448107 BRITISH AMERICAN TOB 55,305 54,623
    136069101 CANADIAN IMPERIAL BA 108,711 100,684
    29250N105 ENBRIDGE INC 55,676 55,599
    37733W105 GLAXOSMITHKLINE PLC 75,287 69,331
    636274409 NATIONAL GRID GROUP- 62,950 64,579
    771195104 ROCHE HOLDING LTD AD 73,318 72,754
    904767704 UNILEVER PLC-SPONSOR 55,504 64,585

    TY 2020 InvestmentsOtherSchedule2
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    464287168 ISHARES DJ SELECT DI AT COST 313,918 311,046
    464287234 ISHARES MSCI EMERGIN AT COST 223,026 304,595
    464287465 ISHARES MSCI EAFE IN AT COST 420,767 479,785
    464287473 ISHARES RUSSELL MIDC AT COST 378,941 432,732
    464287499 ISHARES RUSSELL MIDC AT COST 257,064 431,385
    464287598 ISHARES RUSSELL 1000 AT COST 155,517 235,859
    464287606 ISHARES S&P MIDCAP 4 AT COST 355,526 461,919
    464287614 ISHARES RUSSELL 1000 AT COST 105,478 323,128
    464287630 ISHARES RUSSELL 2000 AT COST 239,286 318,440
    464287648 ISHARES RUSSELL 2000 AT COST 163,058 245,989
    464287705 ISHARES S&P MIDCAP 4 AT COST 402,866 462,741
    464288273 ISHARES MSCI EAFE SM AT COST 263,989 358,154
    464288877 ISHARES MSCI EAFE VA AT COST 431,069 394,262
    464288885 ISHARES MSCI EAFE GR AT COST 317,058 460,251
    46434G103 ISHARES CORE MSCI EM AT COST 261,267 370,441
    78462F103 SPDR S&P ETF TRUST AT COST 137,992 303,217
    78463X889 SPDR PORTFOLIO WORLD AT COST 409,311 490,016
    78468R853 SPDR PORTFOLIO SMALL AT COST 234,889 321,054
    922042858 VANGUARD EMERGING MA AT COST 225,501 302,013

    TY 2020 LegalFeesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - INCOME (ALLOCABLE 9,035     9,035


    TY 2020 OtherDecreasesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Description Amount
    TIMING ADJUSTMENT 3,240
    TOTAL BOND PREMIUM 10
    MUTUAL FUND EARNINGS 52
    2020 TRANSACTIONS POSTED IN 2021 2,697
    2020 ACCRUED INTEREST CARRYFORWARD TO 21 542
    SALES FOUND UPDATES 144


    TY 2020 OtherExpensesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 353 353   0


    TY 2020 OtherIncreasesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Description Amount
    RECOVERIES FROM PRIOR DISTRIBUTIONS 27,710
    ACCRUED INTEREST FROM 2019 800
    2019 TRANSACTIONS POSTED IN 2020 399


    TY 2020 TaxesSchedule
    Name:
    JOHN B & BROWNIE YOUNG MEMORIAL FUND
    EIN:
    61-6025137
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 391 391   0
    FEDERAL TAX PAYMENT - PRIOR YE 5,151 0   0
    FEDERAL ESTIMATES - PRINCIPAL 16,404 0   0
    FOREIGN TAXES ON QUALIFIED FOR 4,246 4,246   0
    FOREIGN TAXES ON NONQUALIFIED 1,158 1,158   0