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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
LAUGHING GULL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)505 S DUKE ST STE 301
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DURHAM, NC277013259
A Employer identification number

36-4749289
B Telephone number (see instructions)

(615) 271-2175
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$38,216,175J 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) 5,567,591
2 Check bullet.............
3 Interest on savings and temporary cash investments 139,209 139,209  
4 Dividends and interest from securities... 349,076 348,621  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 8,864,617
b Gross sales price for all assets on line 6a 17,883,471
7 Capital gain net income (from Part IV, line 2)... 8,781,402
8 Net short-term capital gain.........  
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)....... Click to see attachment -107,761 145  
12 Total. Add lines 1 through 11........ 14,812,732 9,269,377  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 252,326      
15 Pension plans, employee benefits....... 44,050     3,753
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 5,168      
c Other professional fees (attach schedule).... Click to see attachment 618,602 185,814   238,352
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 142,045 16,039    
19 Depreciation (attach schedule) and depletion... Click to see attachment 35,390    
20 Occupancy.............. 58,660      
21 Travel, conferences, and meetings....... 15,827     5,539
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 69,992 2,331   4,420
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,242,060 204,184   252,064
25 Contributions, gifts, grants paid....... 4,721,880 4,721,880
26 Total expenses and disbursements. Add lines 24 and 25 5,963,940 204,184   4,973,944
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 8,848,792
b Net investment income (if negative, enter -0-) 9,065,193
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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......... 3,320,851 2,218,522 2,218,522
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet750,000
Less: allowance for doubtful accounts bullet   750,000 Click to see attachment750,000 750,000
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)....... 15,049,238 Click to see attachment19,742,356 27,304,663
c Investments—corporate bonds (attach schedule)....... 4,384,664 Click to see attachment4,049,154 4,133,647
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 2,067,929 Click to see attachment2,196,648 3,809,343
14 Land, buildings, and equipment: basis bullet277,273
Less: accumulated depreciation (attach schedule) bullet59,711 252,952 Click to see attachment217,562  
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 25,825,634 29,174,242 38,216,175
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) Click to see attachment9,033 Click to see attachment60,162
23 Total liabilities (add lines 17 through 22)......... 9,033 60,162
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........... 25,816,601 29,114,080
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 25,816,601 29,114,080
30 Total liabilities and net assets/fund balances (see instructions). 25,825,634 29,174,242
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
25,816,601
2
Enter amount from Part I, line 27a .....................
2
8,848,792
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
34,665,393
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
5,551,313
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
29,114,080
Form 990-PF (2021)
Form 990-PF (2021)
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 PUBLICLY TRADED SECURITIES P    
b PUBLICLY TRADED SECURITIES P    
c PUBLICLY TRADED SECURITIES P    
d
e
(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 3,393,220   3,050,789 342,431
b 9,438,743   5,952,883 3,485,860
c 4,952,545   15,079 4,937,466
d
e
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       342,431
b       3,485,860
c       4,937,466
d
e
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 8,781,402
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 3 342,431
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 126,006
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 126,006
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 67,100
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 130,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 197,100
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1,344
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 69,750
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet69,750 RefundedBullet 11  
Part VI-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 XIV..................................
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSYNOVUS FAMILY ASSET MANAGEMENT Telephone no.bullet (615) 271-2175

    Located atbullet1033 DEMONBREUN ST STE 200NASHVILLETN ZIP+4bullet37203
    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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
     
     
    c
    ........bullet
    d
    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 2021? .............
    1d
     
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    MARJORIE OWEN BAESMITH PRESIDENT
    15.00     		0 0 0
    505 S DUKE ST STE 301
    DURHAM,NC27701
    EMILY COWARD SECRETARY
    5.00     		0 0 0
    505 S DUKE ST STE 301
    DURHAM,NC27701
    MARJORIE WILLIAMS COWARD CHAIR
    5.00     		0 0 0
    505 S DUKE ST STE 301
    DURHAM,NC27701
    SARAH SCHWARTZ BAESMITH TREASURER
    5.00     		0 0 0
    505 S DUKE ST STE 301
    DURHAM,NC27701
    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
    TERRELL BLOUNT PROGRAM OFFI
    40.00     		93,830    
    505 S DUKE ST STE 301
    DURHAM,NC27701
    CHRISTOPHER CUEVAS PROGRAM OFFI
    40.00     		90,000    
    505 S DUKE ST STE 301
    DURHAM,NC27701
    KAREN A CARLTON COORDINATOR
    40.00     		68,496    
    505 S DUKE ST STE 301
    DURHAM,NC27701
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part VIII-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 VIII-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 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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
    30,304,250
    b
    Average of monthly cash balances.......................
    1b
    3,062,678
    c
    Fair market value of all other assets (see instructions)................
    1c
    4,675,918
    d
    Total (add lines 1a, b, and c).........................
    1d
    38,042,846
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    38,042,846
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    570,643
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    37,472,203
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,873,610
    Part X
    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 IX, line 6..................
    1
    1,873,610
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    126,006
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    126,006
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,747,604
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,747,604
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,747,604
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 1,747,604
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017...... 545,592
    c From 2018...... 2,128,469
    d From 2019...... 2,372,620
    e From 2020...... 3,016,682
    f Total of lines 3a through e ........ 8,063,363
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 4,973,944
    a Applied to 2020, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2021 distributable amount..... 1,747,604
    e Remaining amount distributed out of corpus 3,226,340
    5 Excess distributions carryover applied to 2021.    
    (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 11,289,703
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		11,289,703
    10 Analysis of line 9:
    a Excess from 2017.... 545,592
    b Excess from 2018.... 2,128,469
    c Excess from 2019.... 2,372,620
    d Excess from 2020.... 3,016,682
    e Excess from 2021.... 3,226,340
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    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 IX, 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 XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or 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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    ACLU FOUNDATION OF NC
    PO BOX 28004
    RALEIGH,NC27611     		NONE PC GENERAL OPERATING SUPPORT 75,000
    ALABAMA PRISON ARTS & ED PROJECT
    1061 BEARD-EAVES MEMORIAL
    AUBURN,AL36849     		NONE PC 2021 NCHEP 1,800
    ALLIANCE FOR AFFORDABLE ENERGY
    4505 S CLAIBORNE AVE
    NEW ORLEANS,LA70175     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    ALLIANCE FOR HIGHER ED IN PRISON
    1801 N BROADWAY
    SUITE 417
    DENVER,CO80202     		NONE PC GENERAL OPERATING SUPPORT 80,000
    AUBURN UNIVERSITY FOUNDATION
    221 DUDLEY HALL
    AUBURN,AL36849     		NONE PC ALABAMA PRISON ARTS & ED PROJECT 80,000
    BOREALIS PHILANTHROPY
    PO BOX 3295
    MINNEAPOLIS,MN55403     		NONE PC TRANS GENERATIONS 100,000
    BUILDING EQUITY & ALIGN FOR ENV JUS
    23564 CALABASAS RD
    SUITE 201
    CALABASAS,CA91302     		NONE PC GRANTMAKING TO EJ GRASSROOTS GROUPS 150,000
    BYP100 EDUCATION FUND
    PO BOX 15254
    CHICAGO,IL60615     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    CAMPAIGN FOR SOUTHERN EQUALITY
    PO BOX 364
    ASHEVILLE,NC28802     		NONE PC SOUTHERN EQUALITY FUND 50,000
    CAMPAIGN FOR SOUTHERN EQUALITY
    PO BOX 364
    ASHEVILLE,NC28802     		NONE PC GENERAL OPERATING SUPPORT 100,000
    CAMPAIGN FOR SOUTHERN EQUALITY
    PO BOX 365
    ASHEVILLE,NC28802     		NONE PC REGRANTING FOR TRANS SUPPORT 25,000
    CENTER FOR HEIRS' PROP PRESERVATIO
    8570 RIVERS AVE
    SUITE 170
    NORTH CAROLINA,SC29406     		NONE PC GENERAL OPERATING SUPPORT 50,000
    CIRCLE FOR JUSTICE INNOVATIONS
    147 PRINCE ST
    SUITE 4-20
    BROOKLYN,NY11201     		NONE PC FREE HER FUND/ STARVING THE BEAST 100,000
    CLAFLIN UNIVERSITY
    400 MAGNOLIA ST
    ORANGEBURG,SC29115     		NONE PC 2021 NCHEP FOR PATHWAYS FROM PRISON 1,600
    CLAFLIN UNIVERSITY
    400 MAGNOLIA ST
    ORANGEBURG,SC29115     		NONE PC PROGRAM SUPPORT 65,000
    COLLEGE AND COMMUNITY FELLOWSHIP
    475 RIVERSIDE DR 1626
    NEW YORK,NY10115     		NONE PC OTHER CAPACITY BUILDING 4,500
    COLLEGE AND COMMUNITY FELLOWSHIP
    475 RIVERSIDE DR 1626
    NEW YORK,NY10115     		NONE PC PELL GRANT & COLLEGE FOR WOMEN ADV. 60,000
    COMMUNITY PARTNERS
    1000 N ALAMEDA STREET
    SUITE 240
    LOS ANGELES,CA90012     		NONE PC NCHEP FINANCIAL AID PROGRAM 10,000
    DIVERSITY RICHMOND
    1407 SHERWOOD AVE
    RICHMOND,VA23220     		NONE PC RACE, EQUITY, AND INCLUSION WORK 25,000
    EL CENTRO HISPANO
    2000 CHAPEL HILL ROAD
    SUITE 26A
    DURHAM,NC27707     		NONE PC SCHOLARSHIPS FOR 2022 CREATING CH 1,650
    EL CENTRO HISPANO
    2000 CHAPEL HILL ROAD
    SUITE 26A
    DURHAM,NC27707     		NONE PC LGBTQ PROGRAM SUPPORT 45,000
    EQUALITY FEDERATION
    567 SUTTER ST 3RD FLOOR
    SAN FRANCISCO,CA94102     		NONE PC SOUTHERN SUMMIT 30,000
    EQUALITY OF NC
    PO BOX 28768
    RALEIGH,NC27611     		NONE PC GENERAL OPERATING SUPPORT 100,000
    EQUALITY OF NC
    PO BOX 28768
    RALEIGH,NC27611     		NONE PC TRANS ADVOCACY WORK 10,000
    EQUALITY OF NC
    PO BOX 28768
    RALEIGH,NC27611     		NONE PC BOARD DEVELOPMENT 6,000
    EQUALITY VIRGINIA
    403 N ROBINSON ST
    RICHMOND,VA23220     		NONE PC GENERAL OPERATING SUPPORT 100,000
    EQUALITY VIRGINIA
    403 N ROBINSON ST
    RICHMOND,VA23220     		NONE PC TRANS INITIATIVE PROJECT 50,000
    FLORIDA JUSTICE CENTER
    3469 N DIXIE HWY
    OAKLAND PARK,FL33334     		NONE PC PROGRAM SUPPORT 60,000
    FLORIDA PRISON EDUCATION PROJECT
    12400 AQUARIUS AGORA DR
    ORLANDO,FL32816     		NONE PC 2021 NCHEP 900
    FLORIDA PRISON EDUCATION PROJECT
    12400 AQUARIUS AGORA DR
    ORLANDO,FL32816     		NONE PC PROGRAM SUPPORT 80,000
    FREEDOM CENTER FOR SOCIAL JUSTICE
    4921 ALBEMARLE RD
    SUITE 201
    CHARLOTTE,NC28205     		NONE PC GENREAL OPERATING SUPPORT 100,000
    FUNDERS FOR LGBTQ ISSUES
    45 W 36TH ST 8TH FLOOR
    NEW YORK,NY10018     		NONE PC OITS INITIATIVE AND OITS FUND 125,000
    GEORGIA COALITION FOR HIGHED ED
    50 HURT PLAZA
    SUITE 350
    ATLANTA,GA30303     		NONE PC GENERAL OPERATING SUPPORT 50,000
    GEORGIA CONSERVATION VOTERS ED FUND
    725 PONCE DE LEON AVE
    FLOOR 2
    ATLANTA,GA30306     		NONE PC DEMOCRACY FOR ALL/ENERGY FOR ALL PRO 50,000
    GEORGIA ST UNIVERSITY PRISON EDU
    PO BOX 2668
    ATLANTA,GA30301     		NONE PC 2021 NCHEP 900
    GEORGIA ST UNIVERSITY PRISON EDU
    PO BOX 2668
    ATLANTA,GA30301     		NONE PC SUPPORT FOR PRISON EDUCATION PROGRAM 70,000
    GUILFORD COLLEGE
    WISER JUSTICE PROGRAM
    5800 W FRIENDLY AVE
    GREENSBORO,NC27410     		NONE PC 2021 NCHEP 900
    GUILFORD COLLEGE
    WISER JUSTICE PROGRAM
    5800 W FRIENDLY AVE
    GREENSBORO,NC27410     		NONE PC WISER JUSTICE PROGRAM SUPPORT 65,000
    HEALTH BRIGADE
    1010 N THOMPSON ST
    RICHMOND,VA23230     		NONE PC LGBTQ PROGRAM SUPPORT 40,000
    HEALTHY GULF
    PO BOX 2245
    NEW ORLEANS,LA70176     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    HIGHLANDER RESEARCH AND ED CENTER
    1959 HIGHLANDER WAY
    NEW MARKET,TN37820     		NONE PC SOUTHERN POWER FUND 50,000
    HORIZONS FOUNDATION
    550 MONTGOMERY ST
    SUITE 700
    SAN FRANCISCO,CA94111     		NONE PC SOUTHERN LEADERBOARD - GIVE OUT DA 20,000
    HOUSE OF PENTACLES
    123 DEMO STREET
    NEW YORK,NY12345     		NONE PC GENREAL OPERATING SUPPORT 25,000
    HUDSON LINK FOR HIGHER ED IN PRISON
    PO BOX 862
    OSSINING,NY10562     		NONE PC 2021 RISE UP CONFERENCE SPONSORSHIP 2,500
    IMAGINE WATER WORKS
    1164 CAMP STREET
    NEW ORLEANS,LA70130     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    JAMII SISTERHOOD
    302 MAYFLOWER DR
    LAURENS,SC29360     		NONE PC PROJECT FREEDOM 60,000
    KIDS RETHINK NEW ORLEANS SCHOOLS
    705 FLOOD STREET
    NEW ORLEANS,LA70117     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    LAND LOSS PREVENTION PROJECT
    401 N MANGUM STREET
    2ND FLOOR
    DURHAM,NC27701     		NONE PC GENERAL OPERATING SUPPORT 50,000
    LGBT CENTER OF RALEIGH
    324 S HARRINGTON ST
    RALEIGH,NC27603     		NONE PC GENERAL OPERATING SUPPORT 55,000
    LGBT LIFE CENTER
    222 W 21ST ST
    F308
    NORFOLK,VA23517     		NONE PC GENERAL OPERATING SUPPORT 75,000
    LGBTQ CENTER OF DURHAM
    114 HUNT STREET
    DURHAM,NC27701     		NONE PC GENERAL OPERATING SUPPORT 80,000
    LGBTQ CENTER OF DURHAM
    114 HUNT STREET
    DURHAM,NC27701     		NONE PC SCHOLARSHIPS FOR '22 CREATING CHANGE 1,650
    LGBTQ CENTER OF DURHAM
    114 HUNT STREET
    DURHAM,NC27701     		NONE PC GENERAL OPERATING SUPPORT 10,000
    LIFE UNIVERSITY
    1969 BARCLAY CIRCLE
    MARIETTA,GA30060     		NONE PC PROGRAM SUPPORT FOR CHILON PROJ 75,000
    MIAMI DADE COLLEGE
    11 ISLAND AVE
    SUITE 1008
    MIAMI BEACH,FL33139     		NONE PC PROGRAM SUPPORT FOR IEE 60,000
    MISSISSIPPI HUMANITIES COUNCIL
    3825 RIDGEWOOD RD
    SUITE 311
    JACKSON,MS392116497     		NONE PC PRIVATE SUPPORT FOR MS CONSORTIUM 50,000
    MISSISSIPPI PRISON REFORM COALITION
    PO BOX 16109
    JACKSON,MS39236     		NONE PC CLIMATE DIS. RELIEF FDS FOR PHI/MPR 10,000
    NATIONAL LGBTQ TASK FORCE
    1050 CONNECTICUT AVE NW
    SUITE 65500
    WASHINGTON,DC20035     		NONE PC CREATING CHANGE CONFERENCE 25,000
    NATIONZ FOUNDATION
    4794 FINLAY ST
    SUITE 1
    RICHMOND,VA23231     		NONE PC EMAIL ENCRYPT & PHI/HIPAA DATABASE 6,000
    NATIONZ FOUNDATION
    4794 FINLAY ST
    SUITE 1
    RICHMOND,VA23231     		NONE PC GENERAL OPERATING SUPPORT 75,000
    NC CLIMATE JUSTICE COLLECTIVE
    PO BOX 61051
    DURHAM,NC27715     		NONE PC GENREAL OPERATING SUPPORT FOR NCJC 50,000
    NC LGBTQ DOMESTIC VIOLENCE RESPONSE
    1111 SPRING GARDEN ST
    GREENSBORO,NC27412     		NONE PC PROJECT SUPPORT 30,000
    NC PRISON EDUCATION COLLABORATIVE
    1 UNIVERSITY HEIGHTS
    ASHEVILLE,NC28804     		NONE PC BUILDING CAPACITY AND INFRASTRUCTURE 24,000
    NEW VIRGINIA MAJORITY ED FUND
    3801 MT VERNON AVE
    ALEXANDRIA,VA22305     		NONE PC GENREAL OPERATING SUPPORT 50,000
    OPERATION RESTORATION
    PO BOX 56894
    NEW ORLEANS,LA70156     		NONE PC 2021 NCHEP 1,800
    OPERATION RESTORATION
    PO BOX 56894
    NEW ORLEANS,LA70156     		NONE PC OTHER CAPACITY BUILDING 10,000
    OPERATION RESTORATION
    PO BOX 56894
    NEW ORLEANS,LA70156     		NONE PC GENERAL OPERATING SUPPORT 100,000
    OUTRIGHT YOUTH OF CATAWBA VALLEY
    INC
    PO BOX 2222
    HICKORY,NC28603     		NONE PC GENERAL OPERATING SUPPORT 25,000
    PARTNERSHIP FOR SOUTHERN EQUITY
    55 IVAN ALLEN JR BLVD NW
    SUITE 530
    ATLANTA,GA30308     		NONE PC MOVEMENT OF JUST ENERGY IN THE SOUTH 50,000
    PEOPLE'S ADVOCACY INSTITUTE
    PO BOX 16109
    JACKSON,MS39236     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    PIEDMONT VIRGINIA COMMUNITY COLLEGE
    501 COLLEGE DR
    CHARLOTTESVIILLE,VA22902     		NONE PC SOUTHERN HEP PROGRAM SUPPORT 70,000
    RAPPAHANNOCK COMMUNITY COLLEGE
    PO BOX 923
    WARSAW,VA22572     		NONE PC 2021 NCHEP 1,800
    RAPPAHANNOCK COMMUNITY COLLEGE
    PO BOX 923
    WARSAW,VA22572     		NONE PC PRISON EDUCATION PROGRAM SUPPORT 70,000
    RAPPAHANNOCK COMMUNITY COLLEGE
    PO BOX 923
    WARSAW,VA22572     		NONE PC OTHER CAPACITY BUILDING 7,280
    REAL LIFE
    PO BOX 27372
    RICHMOND,VA23261     		NONE PC PLANNING GRANT TO ADD ED ASSISTANCE 50,000
    RESILIENCE EDUCATION
    PO BOX 4631
    CHARLOTTESVILLE,VA22905     		NONE PC 2021 NCHEP 1,700
    RESILIENCE EDUCATION
    PO BOX 4631
    CHARLOTTESVILLE,VA22905     		NONE PC PROGRAM SUPPORT 55,000
    SHAW UNIVERSITY
    118 E SOUTH STREET
    RALEIGH,NC27601     		NONE PC 2021 NCHEP 900
    SHAW UNIVERSITY
    118 E SOUTH STREET
    RALEIGH,NC27601     		NONE PC SUPPORT FOR REDUCING RECIDIVISM 39,000
    SHIFT NC
    3710 UNIVERSITY DR
    SUITE 310
    DURHAM,NC27707     		NONE PC GENERAL OPERATING SUPPORT 30,000
    SHIFT NC
    3710 UNIVERSITY DR
    SUITE 310
    DURHAM,NC27707     		NONE PC SCHOLARSHIP FOR 2022 CREATING CHANG 1,650
    SIDE BY SIDE
    PO BOX 5542
    RICHMOND,VA23220     		NONE PC GENERAL OPERATING SUPPORT 60,000
    SIDE BY SIDE
    PO BOX 5542
    RICHMOND,VA23220     		NONE PC SCHOLARSHIP FOR 2022 CREATING CHANGE 1,650
    SOUTHERN VISION ALLIANCE
    1410 W CHAPEL HILL ST
    DURHAM,NC27701     		NONE PC GENERAL OPERATING SUPPORT 65,000
    SOUTHERNERS ON NEW GROUND
    PO BOX 11250
    ATLANTA,GA30310     		NONE PC GENERAL OPERATING SUPPORT 100,000
    SOUTHSIDE VIRGINIA COMMUNITY
    COLLEGE CAMPUS WITHIN WALLS
    109 CAMPUS DR
    ALBERTA,VA23821     		NONE PC 2021 NCHEP 1,800
    SOUTHSIDE VIRGINIA COMMUNITY
    COLLEGE CAMPUS WITHIN WALLS
    109 CAMPUS DR
    ALBERTA,VA23821     		NONE PC PROGRAM SUPPORT 70,000
    STETSON COMMUNITY EDUCATION PROJECT
    421 N WOODLAND BLVD
    UNIT 8279
    DELAND,FL32723     		NONE PC 2021 NCHEP 1,800
    STETSON COMMUNITY EDUCATION PROJECT
    421 N WOODLAND BLVD
    UNIT 8279
    DELAND,FL32723     		NONE PC GENERAL OPERATING SUPPORT 70,000
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC PROGRAM SUPPORT 70,000
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC 2021 NCHEP 1,800
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC SOUTHERN HEP COLLECTIVE GATHERING 14,000
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC LEADERSHIP COACHING 10,000
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC TN PRISON COLLEGE COALITION 45,000
    TENNESSEE HIGHER EDUCATION
    INITIATIVE
    1006 SHELBY AVE
    NASHVILLE,TN37206     		NONE PC SOUTHERN HEP COLLECTIVE ADV PROJECT 25,000
    THE CHILLON PROJECT
    1415 BARCLAY CIRCLE
    MARIETTA,GA30060     		NONE PC 2021 NCHEP 1,800
    THE EDUCATION TRUST
    1501 K ST NW
    SUITE 200
    WASHINGTON,DC20005     		NONE PC JUSTICE IMPACTED FELLOWSHIP & ADV BD 50,000
    THE MOVEMENT FOR BLACK LIVES
    15442 VENTURA BLVD
    SUITE 101
    SHERMAN OAKS,CA91403     		NONE PC BTGNCI TASK FORCE 50,000
    THE ORDINARY PEOPLE'S SOCIETY
    403 WEST POWELL ST
    DOTHAN,AL36303     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    THE SMILE TRUST
    937 NW 3RD AVE
    MIAMI,FL33136     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    THE SOUTHEAST CLIMATE & ENERGY NET
    9311 NW 43RD MNR
    SUNRISE,FL333515923     		NONE PC GENERAL OPERATING SUPPORT 50,000
    THE VIRGINIA FOUNDATION FOR
    COMMUNITY COLLEGE EDUCATION
    300 ARBORETUM PL
    SUITE 200
    RICHMOND,VA23236     		NONE PC VA HIGHER EDUCATION IN PRISON 40,000
    TIDES FOUNDATION
    594 DEAN STREET
    SUITE 12
    BROOKLYN,NY11238     		NONE PC TRANS JUSTICE FUNDING PROJECT 75,000
    TIME OUT YOUTH
    3800 MONROE RD
    CHARLOTTE,NC28205     		NONE PC GENERAL OPERATING SUPPORT 100,000
    TIME OUT YOUTH
    3800 MONROE RD
    CHARLOTTE,NC28205     		NONE PC SCHOLARSHIP FOR 2022 CREATING CHANGE 1,650
    TIME OUT YOUTH
    3800 MONROE RD
    CHARLOTTE,NC28205     		NONE PC OTHER CAPACITY BUILDING 8,000
    TRANS JUSTICE FUNDING PROJECT
    PO BOX 150315
    BROOKLYN,NY11215     		NONE PC REGRANTING FOR TRANS SUPPORT 15,000
    TRANZMISSION
    70 WOODFIN PLACE
    ASHEVILLE,NC28801     		NONE PC OTHER CAPACITY BUILDING 3,000
    TRANZMISSION
    70 WOODFIN PLACE
    ASHEVILLE,NC28801     		NONE PC GENERAL OPERATIONS 35,000
    UNA-LIMESTONE PRISON PROGRAMMING
    INITIATIVE
    1 HARRISON PLAZA
    FLORENCE,AL35632     		NONE PC 2021 NCHEP 1,800
    UNA-LIMESTONE PRISON PROGRAMMING
    INITIATIVE
    1 HARRISON PLAZA
    FLORENCE,AL35632     		NONE PC UNA-LIMESTONE PRISON PROGRAMMING 40,000
    UNC ASHEVILLE
    1 UNIVERSITY HEIGHTS
    ASHEVILLE,NC28804     		NONE PC 2021 NCHEP 1,800
    UNITED HOUMA NATION
    20986 HWY 1
    GOLDEN MEADOW,LA70357     		NONE PC CLIMATE DISASTER RELIEF FUNDS 10,000
    VERA INSTITUTE OF JUSTICE
    34 35TH STREET 4-2A
    BROOKLYN,NY11232     		NONE PC UNLOCKING POTENTIAL CAMPAIGN 60,000
    VIRGINIA ANTI-VIOLENCE PROJECT
    PO BOX 7445
    RICHMOND,VA23221     		NONE PC LEADERSHIP COACHING 10,000
    VIRGINIA ANTI-VIOLENCE PROJECT
    PO BOX 7445
    RICHMOND,VA23221     		NONE PC SUPPORT FOR LGBTQ PROGRAMMING 40,000
    VIRGINIA CENTER FOR INCLUSIVE
    COMMUNITIES
    5511 STAPLES MILL RD
    SUITE 202
    RICHMOND,VA23228     		NONE PC GENERAL OPERATING SUPPORT 50,000
    WILLIAM & IDA FRIDAY CENTER
    CORRECTIONAL EDUCATION PROGRAM
    100 FRIDAY CENTER DR
    CHAPEL HILL,NC27517     		NONE PC 2021 NCHEP 1,600
    WVU HIGHER EDUCATION IN PRISON
    INITIATIVE
    PO BOX 6201
    MORGANTOWN,WV26506     		NONE PC 2021 NCHEP 900
    WVU HIGHER EDUCATION IN PRISON
    INITIATIVE
    PO BOX 6201
    MORGANTOWN,WV26506     		NONE PC HIGHER ED IN PRISON INITIATIVE PROG 65,000
    YOUTH OUTRIGHT WNC INC
    PO BOX 1893
    ASHEVILLE,NC28802     		NONE PC RACIAL EQUITY/ANTI RACISM WORK 7,000
    YOUTH OUTRIGHT WNC INC
    PO BOX 1893
    ASHEVILLE,NC28802     		NONE PC GENERAL OPERATING SUPPORT 25,000
    YOUTH OUTRIGHT WNC INC
    PO BOX 1893
    ASHEVILLE,NC28802     		NONE PC SCHOLARSHIP FOR 2022 CREATING CHANGE 1,750
    Total .................................bullet 3a 4,721,880
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 139,209  
    4 Dividends and interest from securities ....          
    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 ............     		900099 83,215 18 15,645 8,765,757
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aSTATE TAX REFUND     		    14 6,380  
    bARAVAIPA 900099 -23,169      
    cECOTRUST II 900099 -39,525      
    dIMPACT AMERICA FUND L.P. 900099 -5,953      
    eCLEAN GROWTH FUND 900099 -8,087      
    fCOASTAL VENTURES 900099 4,453      
    gJUMPFUND II 900099 -5,480      
    hARBORVIEW CAPITAL PARTNERS 900099 -10,577      
    iECOTRUST III 900099 -17,791      
    jIMPACT AMERICA FUND II 900099 -6,891      
    kENVIVA PARTNERS LP 900099 -1,266      
    12 Subtotal. Add columns (b), (d), and (e) .. -31,071 510,455 8,765,757
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    9,245,141
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    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
    2021
    Name of the organization
    LAUGHING GULL FOUNDATION
     
    Employer identification number

    36-4749289
    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) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    LAUGHING GULL FOUNDATION
          		Employer identification number
    36-4749289
    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
    SYNOVUS FAMILY MANAGEMENT CUSTODIAN
     
    1033 DEMONBREUN ST SUITE 200
     
    NASHVILLE, TN37203

    		$ 5,567,591


    (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) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    LAUGHING GULL FOUNDATION
          		Employer identification number

    36-4749289
    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
    		 PUBLICLY TRADED SECURITIES $ 5,567,591 2021-04-01
    (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) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    LAUGHING GULL FOUNDATION
          		Employer identification number

    36-4749289
    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) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 5,168      

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 DepreciationSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    OFFICE FURINITURE AND EQUIP 2016-07-01 5,340 4,744 200DB 7.0000 238      
    OFFICE BUILDOUT 2020-09-15 176,032 5,868 S/L 15.0000 11,735      
    CC LAPTOP 2020-10-02 1,471 294 200DB 5.0000 471      
    CC PRINTER 2020-10-02 85 17 200DB 5.0000 27      
    CC FILE CABINET 2020-10-02 119 17 200DB 7.0000 29      
    HEADPHONES 2020-11-03 903 181 200DB 5.0000 289      
    KEYBOARDS, MICE 2020-11-03 152 30 200DB 5.0000 49      
    FRIDGE, DISHWASHER, MICROWAVE 2020-12-01 2,570 367 200DB 7.0000 629      
    OFFICE FURINTURE 2020-12-03 79,125 11,304 200DB 7.0000 19,377      
    MONITOR FOR KAREN 2020-12-23 183 37 200DB 5.0000 58      
    STORAGE ROOM CABINETS 2020-12-23 1,887 377 200DB 5.0000 604      
    SECURITY DOOR 2020-12-23 2,354 78 S/L 15.0000 157      
    BLINDS 2020-12-23 7,052 1,007 200DB 7.0000 1,727      

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Name of Bond End of Year Book Value End of Year Fair Market Value
    SEE ATTACHED SCHEDULE 4,049,154 4,133,647

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Name of Stock End of Year Book Value End of Year Fair Market Value
    SEE ATTACHED SCHEDULE 19,742,356 27,304,663

    TY 2021 InvestmentsOtherSchedule2
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    RSF SOCIAL INVESTMENT FUND AT COST 275,000 310,230
    ARAVAIPA VENTURE FUND, LLC AT COST 97,088 575,000
    ECOTRUST FORESTS II, LLC AT COST 603,297 1,401,211
    IMPACT AMERICA FUND, LP AT COST 75,767 128,050
    JUMPFUND II, LP AT COST 211,356 217,894
    COASTAL VENTURES IV LP AT COST 277,138 332,295
    CLEAN GROWTH FUND IV LP AT COST 131,135 194,877
    ARBORVIEW CAPITAL PARTNERS AT COST 252,001 302,346
    ECOTRUST III AT COST 157,432 194,631
    IMPACT AMERICA FUND II AT COST 116,434 133,584
    ENVIVA PARTNERS LP AT COST   19,225

    TY 2021 LandEtcSchedule2
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      277,273 59,711 217,562  


    TY 2021 OtherDecreasesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Description Amount
    FMV>COST DONATIONS/K1 BASIS ADJ 5,551,313


    TY 2021 OtherExpensesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXPENSES        
    INSURANCE 2,075      
    DUES & MEMBERSHIPS 22,107      
    OFFICE EXPENSE 1,589      
    WORKERS COMP INSURANCE 1,058      
    MISCELLANEOUS 1,637      
    OPERATIONS OTHER 32,259      
    BOARD MEETINGS 5,893     4,420
    ADR FEES 2,331 2,331    
    NONDEDUCTIBLE EXPENSES K-1 442      
    403B PLAN FEES 601      


    TY 2021 OtherIncomeSchedule2
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    SYNOVUS 145 145  
    STATE TAX REFUND 6,380    
    ARAVAIPA -23,169    
    ECOTRUST II -39,525    
    IMPACT AMERICA FUND L.P. -5,953    
    CLEAN GROWTH FUND -8,087    
    COASTAL VENTURES 4,453    
    JUMPFUND II -5,480    
    ARBORVIEW CAPITAL PARTNERS -10,577    
    ECOTRUST III -17,791    
    IMPACT AMERICA FUND II -6,891    
    ENVIVA PARTNERS LP -1,266    


    TY 2021 OtherLiabilitiesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Description Beginning of Year - Book Value End of Year - Book Value
    FEDERAL EXCISE TAX 9,033 60,162


    TY 2021 OtherNotesLoansRcvblShortSch2
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Name of 501(c)(3) Organization Balance Due
    NATURAL CAPITAL INV FD 102213 2
          		500,000
    CLEAR COMFORT WATER LLC 06012019
          		250,000


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SYNOVUS 225,974 146,883   22,597
    SYNOVUS INVESTMENT FEES 38,931 38,931    
    CONSULTING 353,697     215,755


    TY 2021 TaxesSchedule
    Name:
    LAUGHING GULL FOUNDATION
    EIN:
    36-4749289
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 16,039 16,039    
    EXCISE TAX 126,006