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 01-23-2020 , and ending 12-31-2020
Name of foundation
JAMES K AND DANA B 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

35-7257917
B Telephone number (see instructions)

(984) 328-8987
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$1,509,267J 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) 1,361,336
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 30,852 30,704  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -2,134
b Gross sales price for all assets on line 6a 9,064
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
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........ 1,390,054 30,704  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 14,295 7,147   7,148
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 3,784 0 0 3,784
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 747     747
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 895 775   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment 78 78    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 19,799 8,000 0 11,679
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 19,799 8,000 0 11,679
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 1,370,255
b Net investment income (if negative, enter -0-) 22,704
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.............   13 13
2 Savings and temporary cash investments.........   52,334 52,334
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).......   Click to see attachment421,165 752,959
c Investments—corporate bonds (attach schedule).......   Click to see attachment469,244 498,077
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 attachment137,810 205,884
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)   1,080,566 1,509,267
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........   1,080,566
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).....   1,080,566
30 Total liabilities and net assets/fund balances (see instructions). 0 1,080,566
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
 
2
Enter amount from Part I, line 27a .....................
2
1,370,255
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
80
4
Add lines 1, 2, and 3 ..........................
4
1,370,335
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
289,769
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
1,080,566
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 .25 PROLOGIS INC REIT   2018-02-27 2020-02-19
b .5 OLD DOMINION FREIGHT LINE INC   2019-09-25 2020-03-25
c .06 INGERSOLL-RAND INC   2018-02-27 2020-03-31
d 5. ALLERGAN PLC   2019-09-25 2020-05-11
e 5. ALLERGAN PLC     2020-05-11
76. BOX INC COMMON     2020-05-15
24. DENTSU INC -UNSPON ADR   2019-03-19 2020-05-15
13. DENTSU INC -UNSPON ADR   2019-09-25 2020-05-15
35. PREMIER INC CLASS A COMMON     2020-05-15
1. PREMIER INC CLASS A COMMON   2019-09-25 2020-05-15
33. SASOL LTD SPONSORED ADR     2020-05-15
2. SASOL LTD SPONSORED ADR   2019-09-25 2020-05-15
1. US FOODS HOLDING CORP COMMON   2019-09-25 2020-05-15
59. US FOODS HOLDING CORP COMMON     2020-05-15
.66 ABBVIE INC   2015-12-30 2020-05-27
24. METHANEX CORP (OCELOT INDS LTD)     2020-06-22
.3 SONOVA HOLDING AG UNSPONS ADR   2019-09-25 2020-07-22
34. HSBC HLDGS PLC ADR     2020-08-06
.375 OCCIDENTAL PETROLEUM - WTS 8/03/27   2020-08-03 2020-08-25
.934 VIATRIS INC   2011-08-19 2020-11-19
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 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 24   15 9
b 62   58 4
c 1   1  
d 969   832 137
e 969   815 154
1,297   1,451 -154
498   1,006 -508
270   475 -205
1,058   1,141 -83
30   31 -1
140   1,025 -885
8   36 -28
17   42 -25
990   1,726 -736
59   40 19
471   1,080 -609
13   13  
726   1,402 -676
1   2 -1
16   7 9
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
      1,445
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       9
b       4
c        
d       137
e       154
      -154
      -508
      -205
      -83
      -1
      -885
      -28
      -25
      -736
      19
      -609
       
      -676
      -1
      9
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 -2,134
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................................ 1 316
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........................... 3 316
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- ..... 5 316
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 120
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 354
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 474
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 10 158
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet158 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNC
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. Click to see attachment...............................
    10
    Yes
     
    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 (984) 328-8987

    Located atbullet3200 BEECHLEAF CT STE 900RALEIGHNC ZIP+4bullet27604
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    BRANCH BANKING AND TRUST COMPANY TRUSTEE
    8     		14,295    
    3200 BEECHLEAF CT STE 900
    RALEIGH,NC27604
    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
    1,233,836
    b
    Average of monthly cash balances.......................
    1b
    37,207
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    1,271,043
    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
    1,271,043
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    19,066
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    1,251,977
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    62,599
    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
    62,599
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    316
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    316
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    62,283
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    62,283
    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
    62,283
    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
    11,679
    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
    11,679
    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
    11,679
    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 62,283
    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: bullet$ 11,679
    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..... 11,679
    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 ..........     		50,604
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2016.... 0
    b Excess from 2017.... 0
    c Excess from 2018.... 0
    d Excess from 2019.... 0
    e Excess from 2020.... 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    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 email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Total .................................bullet 3a  
    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 30,852  
    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 -2,134  
    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)..   28,718  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    28,718
    (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
    JAMES K AND DANA B GULLEY MEMORIAL
     
    Employer identification number

    35-7257917
    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
    JAMES K AND DANA B GULLEY MEMORIAL
          		Employer identification number
    35-7257917
    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
    JAMES K GULLEY CHART ANNU TR
    PO BOX 2907 - MC 100-01-02-50
     
    WILSON, NC278942907

    		$ 1,361,336


    (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
    JAMES K AND DANA B GULLEY MEMORIAL
          		Employer identification number

    35-7257917
    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 $ 1,327,307 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
    JAMES K AND DANA B GULLEY MEMORIAL
          		Employer identification number

    35-7257917
    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 InvestmentsCorpBondsSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Name of Bond End of Year Book Value End of Year Fair Market Value
    256210105 DODGE & COX INCOME F 42,465 46,284
    258620103 DOUBLELINE TOTAL RET 45,733 44,519
    31420B847 FEDERATED INST HI YL 25,985 26,138
    74441R607 PGIM SH/TRM CORP BD- 48,728 49,740
    85918D624 STERLING CAPITAL TOT 214,337 235,445
    592905764 METROPOLITAN WEST T/ 42,249 45,109
    693390882 PIMCO INTERNATIONAL 49,747 50,842

    TY 2020 InvestmentsCorpStockSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Name of Stock End of Year Book Value End of Year Fair Market Value
    002824100 ABBOTT LABORATORIES 5,497 14,343
    00287Y109 ABBVIE INC COMMON 3,613 8,036
    00724F101 ADOBE SYSTEM INC COM 4,378 11,503
    00912X302 AIR LEASE CORP COMMO 1,453 1,821
    009158106 AIR PRODUCTS AND CHE 850 1,639
    011659109 ALASKA AIR GROUP INC 2,230 1,560
    015271109 ALEXANDRIA REAL ESTA 2,130 3,743
    015351109 ALEXION PHARMACEUTIC 1,633 2,031
    02079K107 ALPHABET INC -CL C C 2,487 8,759
    021ESC017 ESCROW ALTEGRITY INC 2 247
    023135106 AMAZON.COM INC COMMO 7,180 29,312
    023608102 AMEREN CORPORATION C 1,606 2,186
    03073E105 AMERISOURCEBERGEN CO 1,053 2,151
    031100100 AMETEK INC COMMON 1,482 3,024
    032654105 ANALOG DEVICES INC. 5,087 8,125
    36752103 ANTHEM INC COMMON 2,937 6,743
    037833100 APPLE INC COMMON 2,524 18,577
    038222105 APPLIED MATERIALS CO 728 1,208
    045327103 ASPEN TECH COMMON 762 2,735
    052769106 AUTODESK INC COMMON 1,219 5,801
    058498106 BALL CORPORATION COM 1,838 2,330
    090572207 BIO-RAD LABS CLASS A 1,681 3,498
    09061G101 BIOMARIN PHARMACEUTI 1,808 2,192
    097023105 THE BOEING COMPANY C 1,738 1,070
    101137107 BOSTON SCIENTIFIC CO 3,224 3,559
    12514G108 CDW CORP OF DELAWARE 1,074 3,558
    126650100 CVS COMMON 6,823 6,625
    14448C104 CARRIER GLOBAL CORP 42 75
    146869102 CARVANA CO COMMON 819 5,749
    147528103 CASEY'S GENERAL STOR 910 3,037
    15872M104 CHAMPIONX CORPORATIO 986 444
    172908105 CINTAS CORPORATION C 1,236 2,474
    219350105 CORNING INC COMMON 4,445 5,652
    22822V101 CROWN CASTLE INTL CO 6,435 10,347
    233331107 DTE ENERGY COMPANY C 1,194 1,336
    23355L106 DXC TECHNOLOGY CO CO 871 721
    235851102 DANAHER CORP COMMON 3,002 6,664
    247361702 DELTA AIR LINES INC 4,843 3,780
    252131107 DEXCOM INC COMMON 308 739
    254687106 THE WALT DISNEY COMP 2,257 3,261
    254709108 DISCOVER FINANCIAL S 5,156 8,057
    256746108 DOLLAR TREE INC COMM 2,420 2,485
    30040W108 EVERSOURCE ENERGY CO 1,729 2,855
    30212P303 EXPEDIA INC COMMON 2,156 2,251
    30303M102 FACEBOOK INC-A COMMO 6,587 12,565
    31620M106 FIDELITY NATL INFO S 3,201 3,395
    33616C100 FIRST REPUBLIC BANK 1,757 3,526
    344849104 FOOT LOCKER INC. COM 1,419 1,496
    37045V100 GENERAL MOTORS CO. C 5,309 6,746
    416515104 HARTFORD FINL SVCS G 1,956 2,057
    418056107 HASBRO INC COMMON 2,061 2,151
    437076102 HOME DEPOT INC COMMO 7,181 11,422
    438516106 HONEYWELL INTERNATIO 5,067 10,422
    44980X109 IPG PHOTONICS CORP C 637 2,014
    452327109 ILLUMINA INC COM 369 740
    45687V106 INGERSOLL-RAND INC C 509 1,002
    45866F104 INTERCONTINENTALEXCH 1,962 3,228
    46120E602 INTUITIVE SURGICAL I 512 818
    478160104 JOHNSON & JOHNSON CO 3,615 5,508
    48020Q107 JONES LANG LA SALLE 1,233 1,484
    49338L103 KEYSIGHT TECHNOLOGIE 1,893 2,510
    502431109 L3HARRIS TECHNOLOGIE 2,246 3,780
    512807108 LAM RESEARCH CORP CO 2,219 7,556
    517834107 LAS VEGAS SANDS CORP 798 834
    538034109 LIVE NATION COMMON 1,482 2,572
    550021109 LULULEMON ATHLETICA 357 1,044
    57772K101 MAXIM INTEGRATED PRO 2,304 6,560
    580135101 MCDONALDS CORP. COMM 87 215
    58933Y105 MERCK & CO INC COMMO 5,116 7,035
    594918104 MICROSOFT CORP COMMO 8,181 38,256
    595112103 MICRON TECHNOLOGY IN 446 677
    617446448 MORGAN STANLEY COMMO 5,013 9,046
    62886E108 NCR CORP COMMON 607 714
    631103108 NASDAQ INC COMMON 3,210 6,239
    64110L106 NETFLIX INC COMMON 483 1,622
    654106103 NIKE INC CLASS B 2,448 3,820
    67066G104 NVIDIA CORP COMMON 715 2,089
    67103H107 O'REILLY AUTOMOTIVE 395 453
    674599105 OCCIDENTAL PETROLEUM 5,843 1,714
    679580100 OLD DOMINION FREIGHT 1,309 2,537
    68902V107 OTIS WORLDWIDE CORP 65 68
    697435105 PALO ALTO NETWORKS I 751 1,422
    70450Y103 PAYPAL HOLDINGS INC 2,628 7,026
    713448108 PEPSICO INC COMMON 4,329 7,712
    717081103 PFIZER INC COMMON 1,216 2,650
    718546104 PHILLIPS 66 COMMON 5,546 4,266
    723787107 PIONEER NATURAL RESO 2,087 1,708
    743315103 PROGRESSIVE CORP COM 3,348 6,131
    74340W103 PROLOGIS INC. COMMON 996 1,993
    75513E101 RAYTHEON TECHNOLOGIE 148 143
    773903109 ROCKWELL AUTOMATION 1,097 2,257
    778296103 ROSS STORES, INC. CO 792 3,193
    78409V104 S&P GLOBAL INC COMMO 1,159 2,301
    79466L302 SALESFORCE.COM INC I 5,497 11,794
    803607100 SAREPTA THERAPEUTICS 458 1,534
    817565104 SERVICE CORP INTL CO 1,524 2,357
    81762P102 SERVICENOW INC COMMO 778 1,651
    824348106 SHERWIN-WILLIAMS CO 2,059 3,675
    848637104 SPLUNK, INC. COMMON 1,487 2,378
    855244109 STARBUCKS CORP COMMO 3,257 6,205
    85571B105 STARWOOD PROPERTY TR 2,668 2,374
    87166B102 SYNEOS HEALTH INCH C 1,021 1,908
    872590104 T-MOBILE US INC COMM 1,059 2,158
    879360105 TELEDYNE TECHNOLOGIE 649 2,744
    883556102 THERMO FISHER SCIENT 1,686 3,260
    893641100 TRANSDIGM GROUP INC 1,586 1,857
    907818108 UNION PACIFIC CORP C 1,288 1,874
    911312106 UNITED PARCEL SERVIC 4,581 8,083
    91324P102 UNITEDHEALTH GROUP I 1,734 4,559
    91879Q109 VAIL RESORTS COMMON 2,127 2,790
    92220P105 VARIAN MED SYS INC C 1,396 2,275
    92343V104 VERIZON COMMUNICATIO 4,799 6,639
    92532F100 VERTEX PHARMACEUTICA 1,286 3,072
    92556V106 VIATRIS INC COM 62 150
    92826C839 VISA INC CLASS A SHA 3,610 11,593
    929042109 VORNADO REALTY TRUST 1,290 635
    931142103 WALMART INC COMMON 949 1,153
    949746101 WELLS FARGO & CO COM 4,979 2,867
    957638109 WESTERN ALLIANCE BAN 1,830 2,878
    958102105 WESTERN DIGITAL CORP 1,838 1,662
    98138H101 WORKDAY INC COMMON 574 719
    98156Q108 WORLD WRESTLING ENTE 1,775 1,201
    983919101 XILINX INC COMMON 2,526 6,380
    98978V103 ZOETIS INC COMMON 1,622 2,152
    001317205 AIA GROUP LTD 1,511 5,489
    00687A107 ADIDAS AG 1,883 2,916
    009126202 AIR LIQUIDE COMMON 930 1,643
    015393101 ALFA LAVAL AB -UNSPO 1,107 1,901
    01609W102 ALIBABA GROUP HOLDIN 5,494 7,913
    018820100 ALLIANZ SOCIETAS EUR 2,052 4,294
    02263T104 AMADEUS IT HOLDINGS 1,789 1,822
    02319V103 AMBEV SA-ADR 2,029 1,395
    049255706 ATLAS COPCO AB SPONS 2,714 5,538
    056752108 BAIDU INC 2,446 4,109
    5946K101 BANCO BILBAO VIZCAYA 3,656 2,668
    136375102 CANADIAN NATL RY CO 1,162 3,296
    143658300 CARNIVAL CORP CORP C 6,233 2,383
    16941M109 CHINA MOBILE HK LTD 1,865 1,284
    171269103 CHUGAI PHARMACEUTIC 1,935 4,477
    23304Y100 DBS GROUP HLDGS LTD 2,058 3,638
    237545108 DASSAULT SYSTEMS 552 2,846
    25243Q205 DIAGEO PLC SPONSORED 2,439 2,382
    29250N105 ENBRIDGE INC 4,350 4,830
    29429L105 EPIROC AB -UNSP ADR 1,461 2,533
    307305102 FANUC LTD ADR 1,019 1,670
    344419106 FOMENTO ECONOMICO ME 1,982 1,667
    35952Q106 FUCHS PETROLU SE-PRE 1,111 1,705
    36197T103 GW PHARMACEUTICALS - 362 346
    40415F101 HDFC BANK LTD ADR 1,220 1,879
    45104G104 ICICI BANK LIMITED S 1,335 2,407
    45662N103 INFINEON TECHNOLOGY 4,917 8,334
    465562106 ITAU UNIBANCO BANCO 665 1,023
    500458401 KOMATSU LTD 1,025 1,201
    501173207 KUBOTA CORPORATION 1,956 2,834
    502117203 L'OREAL UNSPONSORED 1,694 5,096
    54338V101 LONZA GROUP AG ADR 2,436 5,405
    575385109 MASONITE INTERNATION 1,600 2,360
    641069406 NESTLE SA ADR 3,394 6,369
    66987V109 NOVARTIS A G ADR 428 472
    670108109 NOVOZYMES A/S UNSPON 1,273 1,436
    69343P105 LUKOIL PJSC-SPON ADR 2,075 1,747
    72341E304 PING AN INSURANCE GR 2,400 2,548
    74365P108 PROSUS N V SPON ADR 920 1,297
    767204100 RIO TINTO PLC ADR 1,143 1,655
    771195104 ROCHE HOLDING LTD AD 4,241 7,166
    780259107 ROYAL DUTCH SHELL PL 1,620 1,076
    803054204 SAP SE ADR 3,052 5,607
    806857108 SCHLUMBERGER LTD COM 3,942 1,332
    818800104 SGS SA UNSPONSORED A 1,279 1,571
    83569C102 SONOVA HOLDING AG 1,035 2,342
    87155N109 SYMRISE AG ADR 1,191 2,752
    87184P109 SYSMEX CORP 1,060 3,063
    874039100 TAIWAN SEMICONDUCTOR 2,765 15,920
    88032Q109 TENCENT HOLDINGS LIM 1,499 2,328
    90460M204 UNICHARM CORP 1,387 1,829
    904767704 UNILEVER PLC-SPONSOR 1,425 2,414
    94106B101 WASTE CONNECTIONS IN 1,663 2,154
    G02602103 AMDOCS LTD SC COMMON 528 1,419
    G0450A105 ARCH CAPITAL GROUP L 934 2,417
    G1151C101 ACCENTURE PLC IRELAN 2,988 8,881
    G4705A100 ICON PLC 1,341 2,145
    G5494J103 LINDE PLC 2,084 3,426
    G5960L103 MEDTRONIC PLC COMMON 5,604 8,083
    G6095L109 APTIV PLC APTIV PLC 3,175 5,472
    G8994E103 TRANE TECHNOLOGIES P 1,761 3,629
    H1467J104 CHUBB LIMITED PROSPE 5,291 6,157
    L0223L101 ARDAGH GROUP SA 1,325 1,033
    M22465104 CHECKPOINT SOFTWARE 2,862 4,785
    N22717107 CORE LABORATORIES N. 1,889 477
    N6596X109 NXP SEMICONDUCTORS N 2,915 4,293
    N97284108 YANDEX NV-A 1,158 2,783

    TY 2020 InvestmentsOtherSchedule2
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    464287234 ISHARES MSCI EMERGIN AT COST 61,361 85,462
    464287804 ISHARES S&P SMALLCAP AT COST 38,276 73,520
    464288273 ISHARES MSCI EAFE SM AT COST 38,105 46,820
    674599162 OCCIDENTAL PETROLEUM AT COST 68 82

    TY 2020 LegalFeesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES - PRINCIPAL (ALLOCA 3,784     3,784


    TY 2020 OtherDecreasesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Description Amount
    2020 TRANSACTIONS POSTED IN 2021 1,071
    FMV TO BOOK ADJUSTMENT FOR CONTRIBUTION 288,698


    TY 2020 OtherExpensesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER EXPENSE (NON-DEDUCTIBLE 78 78   0


    TY 2020 OtherIncreasesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Description Amount
    MUTUAL FUND EARNINGS 74
    ROUNDING 6


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OTHER NON-ALLOCABLE EXPENSE - 747     747


    TY 2020 SubstantialContributorsSch
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Name Address
    JAMES K GULLEY CHART ANNU TR PO BOX 2907 - MC 100-01-02-50
    WILSON,NC278942907


    TY 2020 TaxesSchedule
    Name:
    JAMES K AND DANA B GULLEY MEMORIAL
    EIN:
    35-7257917
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES 491 491   0
    FEDERAL ESTIMATES - PRINCIPAL 120 0   0
    FOREIGN TAXES ON QUALIFIED FOR 221 221   0
    FOREIGN TAXES ON NONQUALIFIED 63 63   0