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
BENWOOD FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)736 MARKET STREET 1600
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHATTANOOGA, TN37402
A Employer identification number

62-0476283
B Telephone number (see instructions)

(423) 267-4311
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$121,358,625J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 188,568 1,079,045  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 7,517,849
b Gross sales price for all assets on line 6a 20,316,425
7 Capital gain net income (from Part IV, line 2)... 14,526,145
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 1,071,437 299,568  
12 Total. Add lines 1 through 11........ 8,777,854 15,904,758  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 251,650 25,165   226,485
14 Other employee salaries and wages...... 371,294 37,130   334,166
15 Pension plans, employee benefits....... 60,295 6,030   54,266
16a Legal fees (attach schedule)......... Click to see attachment 30,196 3,020   27,176
b Accounting fees (attach schedule)....... Click to see attachment 22,020 2,202   19,818
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 294,253 110,636   0
19 Depreciation (attach schedule) and depletion... 3,674 367  
20 Occupancy.............. 134,216 13,422   120,794
21 Travel, conferences, and meetings....... 16,068 1,607   14,461
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 208,663 1,057,818   187,798
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,392,329 1,257,397   984,964
25 Contributions, gifts, grants paid....... 2,957,150 3,932,940
26 Total expenses and disbursements. Add lines 24 and 25 4,349,479 1,257,397   4,917,904
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,428,375
b Net investment income (if negative, enter -0-) 14,647,361
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............. 71,690 32,406 32,406
2 Savings and temporary cash investments......... 4,371,514 3,037,573 3,037,573
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 10,438 10,772 10,772
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 100,175,200 Click to see attachment114,449,347 114,449,347
14 Land, buildings, and equipment: basis bullet605,948
Less: accumulated depreciation (attach schedule) bullet601,663 2,487 4,285 4,285
15 Other assets (describe bullet) Click to see attachment6,929,484 Click to see attachment3,824,242 Click to see attachment3,824,242
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 111,560,813 121,358,625 121,358,625
Liabilities 17 Accounts payable and accrued expenses.......... 61,834 12,500
18 Grants payable................. 2,255,607 1,310,000
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 attachment30,870 Click to see attachment53,606
23 Total liabilities (add lines 17 through 22)......... 2,348,311 1,376,106
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........... 109,212,502 119,982,519
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)..... 109,212,502 119,982,519
30 Total liabilities and net assets/fund balances (see instructions). 111,560,813 121,358,625
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
109,212,502
2
Enter amount from Part I, line 27a .....................
2
4,428,375
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
7,113,511
4
Add lines 1, 2, and 3 ..........................
4
120,754,388
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
771,869
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
119,982,519
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 CAPITAL GAINS FROM PASSTHROUGH P 2021-01-01 2021-12-31
b GAIN ON SALE OF INVESTMENTS PER AFS P 2021-01-01 2021-12-31
c
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 7,008,296     7,008,296
b 13,308,129   5,790,280 7,517,849
c
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       7,008,296
b       7,517,849
c
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 14,526,145
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  
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 0
3 Add lines 1 and 2........................... 3 203,598
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- ..... 5 203,598
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 127,920
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 127,920
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 609
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 76,287
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet   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$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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)
    bulletTN, DE
    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 addressbulletWWW.BENWOOD.ORG
    14
    The books are in care ofbulletSARAH MORGAN Telephone no.bullet (423) 267-4311

    Located atbullet736 MARKET ST STE 1600CHATTANOOGATN ZIP+4bullet37402
    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
     
    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 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
    PAUL K BROCK JR TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    WILLIAM H CHAPIN TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    MARTHA T ROBINSON TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    SARAH MORGAN PRESIDENT
    40.00     		244,113 23,165 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    VALORIA ARMSTRONG TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    ELAINE SWAFFORD TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    STEPHEN CULP TRUSTEE
    2.00     		0 0 0
    736 MARKET SUITE STE 1600
    CHATTANOOGA,TN37402
    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
    JEFF C PFITZER PROGRAM OFFICER
    40.00     		134,836 13,882 0
    736 MARKET STREET STE 1600
    CHATTANOOGA,TN37402
    LORI QUILLEN PROGRAM OFFICER
    40.00     		87,490 9,048 0
    736 MARKET STREET STE 1600
    CHATTANOOGA,TN37402
    CONNIE R PERRIN ACCOUNTING & GRANTS
    40.00     		81,834 8,582 0
    736 MARKET STREET STE 1600
    CHATTANOOGA,TN37402
    MARSHA T ORR ADMINISTRATIVE ASSIS
    40.00     		51,945 5,618 0
    736 MARKET STREET STE 1600
    CHATTANOOGA,TN37402
    Total number of other employees paid over $50,000...................bullet 0
    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.............bullet0
    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  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    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
    0
    b
    Average of monthly cash balances.......................
    1b
    2,566,187
    c
    Fair market value of all other assets (see instructions)................
    1c
    113,948,751
    d
    Total (add lines 1a, b, and c).........................
    1d
    116,514,938
    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
    116,514,938
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    1,747,724
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    114,767,214
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    5,738,361
    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
    5,738,361
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    203,598
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    161,882
    c
    Add lines 2a and 2b............................
    2c
    365,480
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    5,372,881
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    5,372,881
    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 XII, line 1 ...
    7
    5,372,881
    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 5,372,881
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 2,978,873
    b From 2017...... 2,681,884
    c From 2018...... 755,814
    d From 2019...... 3,097,608
    e From 2020...... 2,372,831
    f Total of lines 3a through e ........ 11,887,010
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 4,917,904
    a Applied to 2020, 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 2021 distributable amount..... 4,917,904
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 454,977 454,977
    (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 11,432,033
    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 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) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		2,523,896
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		8,908,137
    10 Analysis of line 9:
    a Excess from 2017.... 2,681,884
    b Excess from 2018.... 755,814
    c Excess from 2019.... 3,097,608
    d Excess from 2020.... 2,372,831
    e Excess from 2021....  
    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 e-mail address of the person to whom applications should be addressed:
    MS SARAH MORGAN
    736 MARKET ST SUITE 1600
    CHATTANOOGA,TN37402
    (423) 267-4311
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATIONS SHOULD BE SUBMITTED IN THE FORM OF A BRIEF TWO-PAGE LETTER. THE LETTER SHOULD INCLUDE A DESCRIPTION OF THE PROJECT OR PURPOSE, BUDGET INFORMATION, AN IRS LETTER OF DETERMINATION, AND A LISTING OF OFFICERS AND BOARD OF DIRECTORS.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    NONE
    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
    AMERICAN ASSOCIATION OF BLACKS IN ENERGY CHATTANOOGA CHAPTER
    1625 K ST SUITE 405
    WASHINGTON,DC20006     		NONE PC CHATTANOOGA CHAPTER SCHOLARSHIP FUND 2,500
    ARTSBUILD
    301 E 11TH ST SUITE 300
    CHATTANOOGA,TN37403     		NONE PC ARTIST RELIEF FUND 10,000
    BESSIE SMITH CULTURAL CENTER AFRICAN AMERICAN MUSEUM PERFORMANCE HALL
    200 E M L KING BLVD
    CHATTANOOGA,TN37403     		NONE PC MUSEUM UPGRADE 60,000
    CHARLES H COOLIDGE MEDAL OF HONOR HERITAGE CENTER
    2 W AQUARIUM WAY SUITE 104
    CHATTANOOGA,TN37402     		NONE PC CAPITAL CAMPAIGN 100,000
    CHATTANOOGA AREA FOOD BANK
    2009 CURTAIN POLE RD
    CHATTANOOGA,TN37406     		NONE PC GENERAL OPERATING FUND 1,500
    CHATTANOOGA BAR FOUNDATION
    801 BROAD ST SUITE 420
    CHATTANOOGA,TN37402     		NONE PC MINORITY CLERK PROGRAM 5,000
    CHATTANOOGA CHAMBER FOUNDATION
    811 BROAD STREET SUITE 100
    CHATTANOOGA,TN37403     		NONE PC CHATTANOOGA 2.0 SUPPORT 250,000
    CHATTANOOGA DESIGN STUDIO
    719 CHERRY STREET SUITE 100
    CHATTANOOGA,TN37402     		NONE PC OPERATING SUPPORT 220,000
    CHATTANOOGA FOOTBALL CLUB FOUNDATION
    1826 CARTER ST
    CHATTANOOGA,TN37402     		NONE PC SUPPORT AFFORDABLE HOUSING IN HIGHLAND PARK 10,000
    CHATTANOOGA STATE FOUNDATION
    4501 AMNICOLD HWY
    CHATTANOOGA,TN37406     		NONE PC BENWOOD HEALTH EDUCATION SCHOLARSHIP 5,000
    CHATTANOOGA STATE FOUNDATION
    4501 AMNICOLD HWY
    CHATTANOOGA,TN37406     		NONE PC ULTIMATE CAMPUS ENGAGEMENT STATEGY 10,000
    CO LAB
    1100 MARKET ST SUITE 100
    CHATTANOOGA,TN37402     		NONE PC STARTUP WEEK CHA 10,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC CHATTANOOGA IMPACT CAPITAL FUND 150,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC SIGMA GAMMA RHO SORORITY SCHOLARSHIP FUND 2,500
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC EDUCATE TO ELEVATE FUND 3,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC LANGSTON CARTER MEMORIAL SCHOLARSHIP FUND 2,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC SANKOFA FUND 5,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC THE KING SCHOOL FUND 2,500
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC JOE JACKSON MEMORIAL SCHOLARSHIP FUND 5,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC COVID-19 VACCINE EDUCATION AND MESSAGING FUND 10,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC ED JOHNSON MEMORIAL 30,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1270 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC RACIAL EQUITY INSTITUTE FOR TRAININGS 25,000
    CREATIVE DISCOVERY MUSEUM
    321 CHESTNUT STREET
    CHATTANOOGA,TN37402     		NONE PC CAPITAL CAMPAIGN AND EDUCATION OUTREACH PROGRAM 65,000
    DALEWOOD MIDDLE SCHOOL
    1300 SHALLOWFORD RD
    CHATTANOOGA,TN37411     		NONE PC DIGITAL ARTS PROGRAM 3,000
    DELTAS SERVING TOGETHER INC
    PO BOX 22083
    CHATTANOOGA,TN37422     		NONE PC DELTA SIGMA THETA CHATTANOOGA ALUMNAE CHAPTER SCHOLARSHIP FUND 5,000
    DYNAMO STUDIOS
    6452 WHITE TAIL DR
    OOLTEWAH,TN37363     		NONE PC MENTORSHIP DIRECTOR POSITION 10,000
    ELLA LIBRARY
    5000 ROSSVILLE BLVD
    CHATTANOOGA,TN37407     		NONE PC BLVD PROJECT 10,000
    FAMILY FIT TOGETHER
    4944 GOLD WING WAY
    CHATTANOOGA,TN37416     		NONE PC GENERAL OPERATING FUND 8,000
    GRANTMAKERS FOR EDUCATION
    700 SW 5TH AVE SUITE 4000
    PORTLAND,OR97204     		NONE PC 2020 ANNUAL DUES 2,200
    GREENSPACES
    63 E MAIN STREET
    CHATTANOOGA,TN37402     		NONE PC GENERAL OPERATING SUPPORT 2,500
    GREENSPACES
    63 E MAIN STREET
    CHATTANOOGA,TN37402     		NONE PC EMPOWER CHATTANOOGA 50,000
    HABITAT FOR HUMANITY
    1201 E MAIN ST
    CHATTANOOGA,TN37408     		NONE PC GENERAL OPERATING FUND 2,000
    HAMILTON COUNTY SCHOOLS FOUNDATION
    3074 HICKORY VALLEY RD
    CHATTANOOGA,TN37421     		NONE PC COMMUNITY FORWARD SCHOOLS PARTNERSHIP 25,000
    LA PAZ CHATTANOOGA
    1402 BAILEY AVE
    CHATTANOOGA,TN37404     		NONE PC GENERAL OPERATING AND PROGRAMMATIC SUPPORT 90,000
    LAUNCH CHATTANOOGA
    1609 MCCALLIE AVENUE
    CHATTANOOGA,TN37404     		NONE PC OPERATING SUPPORT 100,000
    LAUNCH CHATTANOOGA
    1609 MCCALLIE AVENUE
    CHATTANOOGA,TN37404     		NONE PC FABRIC PILOT PLATFORM 10,000
    LEADERSHIPSHIP TENNESSEELIPSCOMB UNIVERISTY
    1 UNIVERSITY PARK DR
    NASHVILLE,TN37204     		NONE PC LEADERSHIP TENNESSEE PROGRAM 10,000
    LOOKOUT MOUNTAIN CONSERVANCY
    PO BOX 76
    LOOKOUT MOUNTAIN,TN37350     		NONE PC HOWARD LEADERSHIP PROGRAM 25,000
    NATIONAL COALITION OF 100 BLACK WOMEN CHATTANOOGA CHAPTER INC
    PO BOX 22783
    CHATTANOOGA,TN37422     		NONE PC CHAPTER SCHOLARSHIP FUND 2,500
    NET RESOURCE FOUNDATION
    4001 HUGHES AVE
    CHATTANOOGA,TN37410     		NONE PC HUGHES PARK PROJECT 10,000
    ORANGE GROVE CENTER
    615 DERBY ST
    CHATTANOOGA,TN37404     		NONE PC GENERAL OPERATING FUND 1,500
    ORCHARD KNOB ELEMENTARY SCHOOL
    2000 E 3RD ST
    CHATTANOOGA,TN37404     		NONE PC SEL TRAINING 3,000
    ORCHARD KNOB MIDDLE SCHOOL
    2000 E 3RD ST
    CHATTANOOGA,TN37404     		NONE PC SEL TRAINING 3,000
    PHILANTHROPY SOUTHEAST
    100 PEACHTREE ST NW SUITE 2080
    ATLANTA,GA30303     		NONE PC MEMBERSHIP 10,290
    PLACING EMPHASIS ON KIDS (PEAK)
    5822 CROOKED CREEK DR
    OOLTEWAH,TN37363     		NONE PC GENERAL OPERATING SUPPORT 2,000
    POP-UP PROJECT
    704 MARKET STREET
    CHATTANOOGA,TN37402     		NONE PC DREAM SCAPE PILOT PROJECT 2,000
    PRISON AND PREVENTION MINISTRIES
    PO BOX 3026
    CHATTANOOGA,TN37404     		NONE PC INZONE PROGRAM 10,000
    PUBLIC EDUCATION FOUNDATION
    7540 BONNYSHIRE DR
    CHATTANOOGA,TN37416     		NONE PC BRIDGING THE GAP SCHOLARSHIP PROGRAM 10,000
    PUBLIC EDUCATION FOUNDATION
    7540 BONNYSHIRE DR
    CHATTANOOGA,TN37416     		NONE PC TEACHERPRENEUR INCUBATOR AND STEM FELLOW COHORT SUPPORT 105,000
    PURPOSE POINT COMMUNITY RESOURCE CENTER
    PO BOX 24533
    CHATTANOOGA,TN37421     		NONE PC PURPOSE POINT EARLY LEARNING CENTER 100,000
    REBUILDING TOGETHER CHATTANOOGA
    4411 TENNESSEE AVE
    CHATTANOOGA,TN37409     		NONE PC GENERAL OPERATING SUPPORT 30,000
    REFLECTION RIDING ORBORETUM AND NATURE CENTER
    400 GARDEN ROAD
    CHATTANOOGA,TN37419     		NONE PC GENERAL OPERATING FUND 2,000
    REFLECTION RIDING ORBORETUM AND NATURE CENTER
    400 GARDEN ROAD
    CHATTANOOGA,TN37419     		NONE PC OUTDOOR PROGRAMMING 4,000
    REFLECTION RIDING ORBORETUM AND NATURE CENTER
    400 GARDEN ROAD
    CHATTANOOGA,TN37419     		NONE PC NATIVE LANDSCAPE MANAGEMENT APPRENTICESHIP 40,000
    REFLECTION RIDING ORBORETUM AND NATURE CENTER
    400 GARDEN ROAD
    CHATTANOOGA,TN37419     		NONE PC CONSERVATION LAND MANAGEMENT 10,000
    RISE CHATTANOOGAJAZZANOOGA
    2901 TAYLOR STREET
    CHATTANOOGA,TN37406     		NONE PC SOUL SUNDAYS CONCERT SERIES AT MILLER PARK 30,000
    RIVER CITY COMPANY
    850 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC POST COVID RECOVERY PLAN-ANIMATION 110,000
    RIVER CITY COMPANY
    850 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC BROAD STREET SCHEMATIC DESIGN 100,000
    ROYAL CIRCLE OF SISTERS
    PO BOX 4637
    CHATTANOOGA,TN37405     		NONE PC GENERAL OPERATING SUPPORT 5,000
    SONGBIRDS FOUNDATION INC
    1407 MARKET ST STE A
    CHATTANOOGA,TN37402     		NONE PC INTERACTIVE LEARNING SPACE AND ROTATING EXHIBITS 10,000
    SOUNDCORPS CHATTANOOGA
    301 E 11TH ST SUITE 300
    CHATTANOOGA,TN37403     		NONE PC GENERAL OPERATING SUPPORT 1,000
    TEACH FOR AMERICA
    25 BROADWAY 12TH FLOOR
    NEW YORK,NY10004     		NONE PC GENERAL OPERATING SUPPORT 1,500
    TENNESSEE SCORE
    1207 18TH AVE SOUTH SUITE 326
    NASHVILLE,TN37212     		NONE PC GENERAL OPERATING SUPPORT 200,000
    THE BETHLEHEM CENTER
    200 W 38TH ST
    CHATTANOOGA,TN37403     		NONE PC STAFF PROFESSIONAL DEVELOPMENT FOR HOWARD SCHOOL 5,000
    THE GENEROSITY TRUST
    345 FRAZIER AVE UNIT 205
    CHATTANOOGA,TN37405     		NONE PC HAMILTON COUNTY SCHOOLS VIRTUAL LEARNING 15,000
    TIDES FOUNDATION
    PO BOX 889389
    LOS ANGELES,CA90088     		NONE PC NAACP LOCAL ACTION FUND 2,500
    TRUST FOR PUBLIC LAND
    101 MONTGOMERY ST STE 900
    SAN FRANSISCO,CA94104     		NONE PC URBAN NEIGHBORHOODS PARKS AND TRAILS 100,000
    UNIVERSITY OF CHATTANOOGA FOUNDATION
    615 MCCALLIE AVE DEBT 6806
    CHATTANOOGA,TN37403     		NONE PC DIVINE NINE HERITAGE PARK PROJECT 2,500
    URBAN LEAGUE OF CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37402     		NONE PC CENTER FOR YOUTH, WORKFORCE, AND FAMILY 10,000
    URBAN LEAGUE OF CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37402     		NONE PC GENERAL OPERATING SUPPORT 5,000
    URBAN LEAGUE OF CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37402     		NONE PC INCLUSION BY DESIGN 30,000
    URBAN LEAGUE OF CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37402     		NONE PC COMMUNITY RACIAL EQUITY TRAINING OPPORTUNITIES 85,000
    URBAN LEAGUE OF CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37402     		NONE PC STATE OF BLACK CHATTANOOGA REPORT 10,000
    YMCA OF METROPOLITAN CHATTANOOGA
    301 W 6TH ST
    CHATTANOOGA,TN37402     		NONE PC Y-CAP PROGRAM 7,000
    YOUNG WOMENS LEADERSHIP ACADEMY FOUNDATION INC
    1802 BAILEY AVE
    CHATTANOOGA,TN37404     		NONE PC MONTESSORI ELEMENTARY AT HIGHLAND PARK 230,000
    Total .................................bullet 3a 2,641,490
    bApproved for future payment
    ARTSBUILD
    730 E M L KING BLVD
    CHATTANOOGA,TN37403     		NONE PC GENERAL OPERATING SUPPORT 150,000
    BUILDING AND CONSTRUCTION WORKFORCE CENTER
    101 W 21ST ST
    CHATTANOOGA,TN37408     		NONE PC HUB FOR CONSTRUCTION EDUCATION, TRAINING, AND WORKFORCE DEVELOPMENT 200,000
    CHATTANOOGA IN ACTION FOR LOVE EQUALITY AND BENEVOLENCE
    PO BOX 11202
    CHATTANOOGA,TN37401     		NONE PC OPERATIONAL SUPPORT 65,000
    CHATTANOOGA PREPARATORY SCHOOL
    1849 UNION AVE
    CHATTANOOGA,TN37404     		NONE PC COLLEGE PREP PROGRAM 50,000
    CREATIVE DISCOVERY MUSEUM
    321 CHESTNUT STREET
    CHATTANOOGA,TN37402     		NONE PC IGNITE CAMPAIGN 100,000
    LA PAZ CHATTANOOGA
    1402 BAILEY AVE
    CHATTANOOGA,TN37404     		NONE PC FIREHALL RENOVATION AND ART 20,000
    PUBLIC EDUCATION FOUNDATION
    100 EAST 10TH ST STE 500
    CHATTANOOGA,TN37404     		NONE PC COLLEGE SUCCESS INITIATIVE 100,000
    SOUTHEAST COMMUNITY CAPITAL
    201 VENTURE CIRCLE
    NASHVILLE,TN37228     		NONE PC PATHWAY LENDING'S SMALL BUSINESS JOBS OPPORTUNITY FUND 300,000
    TENNESSEE ACQUARIUM
    1 BROAD STREET
    CHATTANOOGA,TN37402     		NONE PC REBUILDING FOR DIVERSITY IN EDUCATION 200,000
    GREENSPACES
    63 E MAIN STREET
    CHATTANOOGA,TN37402     		NONE PC BIG AND HEALTHY HOMES 50,000
    PUBLIC EDUCATION FOUNDATION
    7540 BONNYSHIRE DR
    CHATTANOOGA,TN37416     		NONE PC BRIDGING THE GAP SCHOLARSHIP PROGRAM 75,000
    Total .................................bullet 3b 1,310,000
    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 ...........     		         
    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 ............     		    18 7,517,849  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INVESTMENT INCOME/LOSSES- LIMITED PARTNERSHIPS     		  771,869      
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 771,869 8,005,985 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    8,777,854
    (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

    TY 2021 AccountingFeesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 22,020 2,202   19,818

    TY 2021 InvestmentsOtherSchedule2
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    LIMITED PARTNERSHIP INTEREST FMV 2,721,748 2,721,748
    INVESTMENT FUNDS FMV 111,727,599 111,727,599

    TY 2021 LegalFeesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 30,196 3,020   27,176


    TY 2021 OtherAssetsSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    INVESTMENT PROCEEDS RECEIVABLE 5,333,634 2,000,000 2,000,000
    NOTE RECEIVABLE 1,595,850 1,824,242 1,824,242


    TY 2021 OtherDecreasesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Amount
    UBTI NOT SHOWN ON AUDITED FINANCIALS 771,869


    TY 2021 OtherExpensesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MANAGEMENT FEES 0 243,941   0
    INVESTMENT EXPENSES FROM K-1S 0 705,463   0
    PAYROLL EXPENSES 39,639 3,964   35,675
    INVESTMENT INTEREST EXPENSE FROM K-1S 0 87,549   0
    INSURANCE 80,751 8,075   72,676
    TECHNICAL SUPPORT 17,873 1,787   16,086
    OFFICE EXPENSE 56,413 5,641   50,772
    PARKING 4,613 461   4,152
    LIABILITY INSURANCE 3,374 337   3,037
    PROFESSIONAL DEVELOPMENT 6,000 600   5,400


    TY 2021 OtherIncomeSchedule2
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME 299,568 299,568 299,568
    OTHER INVESTMENT INCOME/LOSSES- LIMITED PARTNERSHIPS 771,869 0 771,869


    TY 2021 OtherIncreasesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Amount
    NET UNREALIZED GAIN ON INVESTMENTS 7,113,511


    TY 2021 OtherLiabilitiesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Description Beginning of Year - Book Value End of Year - Book Value
    FEDERAL EXCISE TAXES PAYABLE 30,870 53,606


    TY 2021 TaxesSchedule
    Name:
    BENWOOD FOUNDATION INC
    EIN:
    62-0476283
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL EXCISE TAX 294,253 0   0
    FOREIGN WITHHOLDING TAX 0 110,636   0