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 07-01-2021 , and ending 06-30-2022
Name of foundation
WELDON F OSBORNE FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)100 WEST ML KING BLVD 210
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHATTANOOGA, TN37402
A Employer identification number

62-6026442
B Telephone number (see instructions)

(423) 267-0931
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$19,725,534J 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 45,153 45,153  
4 Dividends and interest from securities... 304,667 304,667  
5a Gross rents............ 703,303 703,303  
b Net rental income or (loss) 380,485
6a Net gain or (loss) from sale of assets not on line 10 1,076,650
b Gross sales price for all assets on line 6a 4,762,947
7 Capital gain net income (from Part IV, line 2)... 1,076,650
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).......      
12 Total. Add lines 1 through 11........ 2,129,773 2,129,773 0
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 24,000 12,000 0 12,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 23,894 23,894 0 0
b Accounting fees (attach schedule)....... Click to see attachment 24,231 1,212 0 23,019
c Other professional fees (attach schedule).... Click to see attachment 128,326 60,826 0 67,500
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 98,073 74,644 0 0
19 Depreciation (attach schedule) and depletion... Click to see attachment 54,491 52,885 0
20 Occupancy.............. 24,883 4,977 0 19,906
21 Travel, conferences, and meetings....... 1,124 0 0 1,124
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 316,770 295,392 0 21,379
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 695,792 525,830 0 144,928
25 Contributions, gifts, grants paid....... 1,270,548 1,196,312
26 Total expenses and disbursements. Add lines 24 and 25 1,966,340 525,830 0 1,341,240
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 163,433
b Net investment income (if negative, enter -0-) 1,603,943
c Adjusted net income (if negative, enter -0-)... 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............. 1,550,230 364,115 364,115
2 Savings and temporary cash investments......... 690,138 778,014 778,014
3 Accounts receivable bullet28,691
Less: allowance for doubtful accounts bullet   17,643 28,691 28,691
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.......... 1,212 7,771 7,771
10a Investments—U.S. and state government obligations (attach schedule) 1,231,098 Click to see attachment1,289,780 1,289,780
b Investments—corporate stock (attach schedule)....... 16,855,443 Click to see attachment13,817,174 13,817,174
c Investments—corporate bonds (attach schedule)....... 949,009 Click to see attachment633,599 633,599
11 Investments—land, buildings, and equipment: basis bullet3,371,226
Less: accumulated depreciation (attach schedule) bullet688,591 2,456,212 Click to see attachment2,682,635 2,527,500
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet74,187
Less: accumulated depreciation (attach schedule) bullet58,399 14,836 Click to see attachment15,788 15,788
15 Other assets (describe bullet) Click to see attachment263,102 Click to see attachment263,102 Click to see attachment263,102
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 24,028,923 19,880,669 19,725,534
Liabilities 17 Accounts payable and accrued expenses.......... 52,625 33,398
18 Grants payable................. 48,000 122,236
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 100,625 155,634
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........... 23,928,298 19,725,035
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)..... 23,928,298 19,725,035
30 Total liabilities and net assets/fund balances (see instructions). 24,028,923 19,880,669
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
23,928,298
2
Enter amount from Part I, line 27a .....................
2
163,433
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
24,091,731
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
4,366,696
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
19,725,035
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
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 4,762,947   3,686,297 1,076,650
b
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       1,076,650
b
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 1,076,650
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 22,295
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 22,295
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 30,545
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 30,545
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 8,250
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet8,250 RefundedBullet 11 0
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
 
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)
    bulletTN
    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 instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWFOSBORNEFOUNDATION.ORG
    14
    The books are in care ofbulletGLENN C STOPHEL Telephone no.bullet (423) 267-0931

    Located atbullet100 WEST ML KING BLVD STE 210CHATTANOOGATN 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)
    Yes
     
    (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
     
    No
    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
    GENE BURNETT VICE-PRESIDENT
    10.00     		12,000 0 0
    100 WEST ML KING BLVD STE 210
    CHATTANOOGA,TN37402
    C DUFFY FRANCK JR TRUSTEE
    10.00     		12,000 0 0
    100 WEST ML KING BLVD STE 210
    CHATTANOOGA,TN37402
    GLENN STOPHEL PRESIDENT
    2.00     		0 0 0
    100 WEST ML KING BLVD STE 210
    CHATTANOOGA,TN37402
    SCOTT MATTICE TREASURER
    1.00     		0 0 0
    100 WEST ML KING BLVD STE 210
    CHATTANOOGA,TN37402
    CHRISTINE B SMITH SECRETARY
    1.00     		0 0 0
    100 WEST ML KING BLVD STE 210
    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
    NONE
    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
    BARBARA J MARTER BOOKKEEPING/GRANT MANAGEMENT 75,000
    7416 JESTER COURT
    OOLTEWAH,TN37363
    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 NONE - NO ACTIVITIES OTHER THAN GRANT MAKING 0
    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 - FOUNDATION IS ENGAGED SOLELY IN GRANT MAKING ACTIVITIES 0
    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
    18,706,001
    b
    Average of monthly cash balances.......................
    1b
    1,888,467
    c
    Fair market value of all other assets (see instructions)................
    1c
    2,527,500
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,121,968
    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
    23,121,968
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    346,830
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    22,775,138
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,138,757
    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
    1,138,757
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    22,295
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    22,295
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,116,462
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,116,462
    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
    1,116,462
    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 1,116,462
    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...... 269,207
    b From 2017...... 261,258
    c From 2018...... 277,997
    d From 2019...... 298,901
    e From 2020...... 340,371
    f Total of lines 3a through e ........ 1,447,734
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,341,240
    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..... 1,116,462
    e Remaining amount distributed out of corpus 224,778
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,672,512
    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) ...     		269,207
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		1,403,305
    10 Analysis of line 9:
    a Excess from 2017.... 261,258
    b Excess from 2018.... 277,997
    c Excess from 2019.... 298,901
    d Excess from 2020.... 340,371
    e Excess from 2021.... 224,778
    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:
    BARBARA MARTER
    100 WEST ML KING BLVD STE 210
    CHATTANOOGA,TN37402
    (423) 267-0931
    bThe form in which applications should be submitted and information and materials they should include:
    RELIGIOUS AND PUBLIC CHARITABLE ORGANIZATIONS MAY VISIT FOUNDATION WEBSITE TO COMPLETE AN ONLINE APPLICATION FOR GRANT SUBMISSION.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    ALL CONTRIBUTIONS ARE MADE TO QUALIFIED 501(C)(3) ORGANIZATIONS.
    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
    ADULT & TEEN CHALLENGE MIDSOUTH
    1108 W 33RD STREET
    CHATTANOOGA,TN37410     		NONE PC CAPACITY BUILDING/PROGRAM RELATED 43,000
    ARTSBUILD
    301 E 11TH STREET SUITE 300
    CHATTANOOGA,TN37403     		NONE PC OPERATING 10,000
    BETHEL BIBLE VILLAGE
    3001 HAMILL RD
    HIXSON,TN37343     		NONE PC PROGRAM SUPPORTPROGRAM SUPPORT 36,150
    BOY SCOUTS OF AMERICA CHEROKEE AREA COUNCIL
    6031 LEE HIGHWAY
    CHATTANOOGA,TN37421     		NONE PC OPERATING/PROGRAM SUPPORT 16,000
    BOYS AND GIRLS CLUBS OF CHATTANOOGA
    PO BOX 11567
    CHATTANOOGA,TN37401     		NONE PC OPERATING/PROGRAM SUPPORT/PROGRAM RELATED 21,000
    BRAND OF THE CROSS MINISTRIES INC
    3460 KEITH ROAD
    RINGGOLD,GA30736     		NONE PC PROGRAM RELATED 4,000
    BRYAN COLLEGE
    P O BOX 7792
    DAYTON,TN37321     		NONE PC PROGRAM SUPPORT 30,000
    CATHOLIC CHARITIES OF EAST TENNESSEE
    5720 UPTAIN ROAD
    CHATTANOOGA,TN37411     		NONE PC PROGRAM SUPPORT 3,000
    CHATTANOOGA AREA FOOD BANK
    2009 CURTAIN POLE RD
    CHATTANOOGA,TN37406     		NONE PC PROGRAM SUPPORT 15,000
    CHATTANOOGA COMMUNITY KITCHEN
    P O BOX 11203
    CHATTANOOGA,TN37401     		NONE PC OPERATING 2,000
    CHATTANOOGA STATE COMMUNITY COLLEGE
    4501 AMINICOLA HIGHWAY
    CHATTANOOGA,TN37406     		NONE PC CAPACITY BUILDING 35,584
    CHATTANOOGA STATE COMMUNITY COLLEGE FOUNDATION
    4501 AMNICOLA HIGHWAY
    CHATTANOOGA,TN37406     		NONE PC OPERATING/PROGRAM RELATED 8,400
    CHILD EVANGELISM FELLOWSHIP OF TN GREATER CHATTANOOGA CHAPTER
    PO BOX 3523
    CHATTANOOGA,TN37404     		NONE PC PROGRAM SUPPORT 20,000
    CROSSROADS OF EAST TENNESSEE
    PO BOX 362
    CLEVELAND,TN37364     		NONE PC PROGRAM RELATED 2,000
    EAST TENNESSEE ALLIANCE FOR ANIMALS
    5251 HWY 153 SUITE C
    HIXSON,TN37343     		NONE PC OPERATING 1,500
    ETHNOS360
    312 WEST FIRST STREET
    SANFORD,FL32771     		NONE PC PROGRAM RELATED 4,000
    FIRST BAPTIST CARES
    506 E 8TH STREET
    CHATTANOOGA,TN37403     		NONE PC PROGRAM SUPPORT 10,000
    GENEROSITY TRUST THE
    345 FRAZIER AVENUE UNIT 205
    CHATTANOOGA,TN37405     		NONE PC PROGRAM RELATED 10,000
    GIRLS INC OF CHATTANOOGA
    4505 BRAINERD ROAD
    CHATTANOOGA,TN37411     		NONE PC PROGRAM SUPPORT 15,000
    GIRLS PREPARATORY SCHOOL
    205 ISLAND AVE FRNT DESK
    CHATTANOOGA,TN37405     		NONE PC PROGRAM RELATED 24,000
    GRACE BAPTIST ACADEMY
    7815 SHALLOWFORD ROAD
    CHATTANOOGA,TN37421     		NONE PC TECHNOLOGY 25,000
    GREATER CHATTANOOGA PUBLIC TELEVISION CORPORATION
    7540 BONNYSHIRE DRIVE
    CHATTANOOGA,TN37416     		NONE PC PROGRAM RELATED 30,000
    HABITAT FOR HUMANITY OF GREATER CHATTANOOGA AREA
    1201 E MAIN ST
    CHATTANOOGA,TN37408     		NONE PC PROGRAM SUPPORT 15,000
    HUMANE EDUCATIONAL SOCIETY
    212 N HIGHLAND PARK AVENUE
    CHATTANOOGA,TN37404     		NONE PC CAPITAL EXPENDITURES 2,000
    LIFESPRING COMMUNITY HEALTH
    1042 EAST 3RD STREET
    CHATTANOOGA,TN37403     		NONE PC CAPACITY BUILDING 25,000
    LOOKOUT MOUNTAIN CONSERVANCY
    PO BOX 76
    LOOKOUT MOUNTAIN,TN37350     		NONE PC PROGRAM SUPPORT 11,500
    MCCALLIE SCHOOL
    500 DODDS AVENUE
    CHATTANOOGA,TN37402     		NONE PC OPERATING 2,500
    NATIONAL CENTER FOR YOUTH ISSUES INC
    6101 PRESERVATION DRIVE
    CHATTANOOGA,TN37416     		NONE PC PROGRAM SUPPORT 18,000
    NORTHSIDE NEIGHBORHOOD HOUSE
    PO BOX 4086
    CHATTANOOGA,TN37405     		NONE PC PROGRAM SUPPORT 17,000
    NOTRE DAME HIGH SCHOOL
    2701 VERMONT AVE
    CHATTANOOGA,TN37404     		NONE PC OPERATING 2,000
    ON POINT
    4509 HIXSON PIKE 1
    HIXSON,TN37343     		NONE PC PROGRAM SUPPORT 20,000
    PARTNERSHIP FOR FAMILIES CHILDREN AND ADULTS INC
    1800 MCCALLIE AVE
    CHATTANOOGA,TN37404     		NONE PC PROGRAM SUPPORT 20,000
    PIONEERS
    10123 WILLIAM CAREY DRIVE
    ORLANDO,FL32832     		NONE PC PROGRAM RELATED/OPERATING 4,000
    PUBLIC SCHOOL BIBLE STUDY COMMITTEE
    P O BOX 4228
    CHATTANOOGA,TN37405     		NONE PC OPERATING/PROGRAM SUPPORT 26,000
    SPARC
    6638 DECLARATION DRIVE
    HIXSON,TN37343     		NONE PC OPERATING 6,000
    SCORE INTERNATIONAL
    602 BELVOIR AVENUE
    CHATTANOOGA,TN37412     		NONE PC PROGRAM RELATED 10,000
    SHEPHERD'S ARMS RESCUE MISSION
    P O BOX 16758
    CHATTANOOGA,TN37416     		NONE PC GENERAL OPERATING 25,000
    SIGNAL CENTERS INC
    109 NORTH GERMANTOWN ROAD
    CHATTANOOGA,TN37411     		NONE PC TECHNOLOGY 25,000
    SISKIN CHILDREN'S INSTITUTE
    1101 CARTER STREET
    CHATTANOOGA,TN37402     		NONE PC OPERATING 6,000
    SKYUKA HALL
    5600 BRAINERD ROAD SUITE A-24
    CHATTANOOGA,TN37411     		NONE PC TECHNOLOGY/OPERATING 1,800
    ST JUDE CATHOLIC CHURCH
    930 ASHLAND TERRACE
    CHATTANOOGA,TN37145     		NONE PC OPERATING 5,000
    ST JUDE SCHOOL
    930 ASHLAND TERRACE
    CHATTANOOGA,TN37415     		NONE PC PROGRAM RELATED 1,000
    STREET2STREET
    555 GOFFLE ROAD
    RIDGEWOOD,NJ07450     		NONE PC PROGRAM RELATED 4,000
    TEACH FOR AMERICA NASHVILLE-CHATTANOOGA
    123 E 7TH ST SUITE 302
    CHATTANOOGA,TN37403     		NONE PC PROGRAM SUPPORT 15,000
    THE HAPPY SHOES PROJECT
    PO BOX 356
    OOLTEWAH,TN37363     		NONE PC GENERAL OPERATING 15,000
    THE SALVATION ARMY OF GREATER CHATTANOOGA
    822 MCCALLIE AVENUE
    CHATTANOOGA,TN37403     		NONE PC OPERATING 1,000
    UC FOUNDATION INC
    615 MCCALLIE AVENUE UTC-DEPT 3503
    CHATTANOOGA,TN37403     		NONE PC PROGRAM RELATED 3,000
    UNITED WAY OF GREATER CHATTANOOGA
    630 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC PROGRAM RELATED 10,000
    VOLUNTEERS IN MEDICINE CHATTANOOGA INC
    5705 MARLIN ROAD SUITE 1400
    CHATTANOOGA,TN37414     		NONE PC OPERATING 29,000
    WALTER E BOEHM BIRTH DEFECTS CENTER
    975 E 3RD STREET
    CHATTANOOGA,TN37403     		NONE PC OPERATING 1,000
    WELCOME HOME OF CHATTANOOGA
    PO BOX 4247
    CHATTANOOGA,TN37405     		NONE PC CAPITAL CAMPAIGNCAPITAL CAMPAIGN 25,000
    AUSTIN HATCHER FOUNDATION FOR PEDIATRIC CANCER
    1705 S HOLTSCLAW AVENUE
    APISON,TN37404     		NONE PC PROGRAM SUPPORT 25,000
    1040 CONNECTIONS INC
    2120 NORTHGATE PARK LANE 400
    CHATTANOOGA,TN37415     		NONE PC TECHNOLOGY 5,000
    BRAINERD KIWANIS YOUTH FOUNDATION
    PO BOX 25134
    CHATTANOOGA,TN37422     		NONE PC PROGRAM RELATED 500
    BRIDGE SCHOLARS OF CHATTANOOGA
    1270 MARKET STREET
    CHATTANOOGA,TN37402     		NONE PC GENERAL OPERATING 10,000
    CHAMBLISS CENTER FOR CHILDREN
    315 GILLESPIE ROAD
    CHATTANOOGA,TN37411     		NONE PC GENERAL OPERATING 25,000
    CHATTANOOGA AUTISM CENTER
    1400 MCCALLIE AVE
    CHATTANOOGA,TN37404     		NONE PC CAPITAL CAMPAIGN 25,000
    CHATTANOOGA GIRLS LEADERSHIP ACADEMY
    PO BOX 3859
    CHATTANOOGA,TN37404     		NONE PC PROGRAM SUPPORT 25,000
    CHATTANOOGA YOUTH NETWORK
    PO BOX 2468
    CHATTANOOGA,TN37409     		NONE PC CAPACITY BUILDING 15,000
    CHI MEMORIAL FOUNDATION
    2525 DE SALES AVENUE
    CHATTANOOGA,TN30736     		NONE PC OPERATING/CAPACITY BUILDING 32,500
    CHILDREN'S ADVOCACY CENTER OF HAMILTON COUNTY
    5705 UPTAIN ROAD SUITE C
    CHATTANOOGA,TN37411     		NONE PC PROGRAM RELATED 5,000
    CHILDREN'S NUTRITION PROGRAM OF HAITI
    PO BOX 3720
    CHATTANOOGA,TN37404     		NONE PC PROGRAM RELATED 2,500
    CHOICES PREGNANCY RESOURCE CENTER
    951 EASTGATE LOOP SUITE 1000
    CHATTANOOGA,TN37411     		NONE PC PROGRAM SUPPORT 15,000
    CLINCA MEDICOS
    1300 E 23RD STREET
    CHATTANOOGA,TN37404     		NONE PC PROGRAM RELATED/OPERATING 13,150
    CREATIVE DISCOVERY MUSEUM
    321 CHESTNUT STREET
    CHATTANOOGA,TN37402     		NONE PC PROGRAM SUPPORT 9,980
    DISCIPLEMAKING MISSION
    PO BOX 1676 3130 WATERFRONT DRIVE
    CHATTANOOGA,TN37401     		NONE PC PROGRAM SUPPORT 14,000
    DOWNSIDE UP INC
    PO BOX 455
    HIXSON,TN37343     		NONE PC PROGRAM RELATED 2,500
    EXPONENT PHILANTHROPY
    1720 N STREET NW
    WASHINGTON,DC20036     		NONE PC PROGRAM 1,000
    FIRST CUMBERLAND PRESBYTERIAN CHURCH - BRIDGE CHATTANOOGA PROGRAM
    1505 N MOORE ROAD
    CHATTANOOGA,TN37411     		NONE PC PROGRAM SUPPORT 10,000
    FIRST THINGS FIRST
    620 LINDSAY STREET SUITE 100
    CHATTANOOGA,TN37403     		NONE PC PROGRAM SUPPORT 15,000
    HOPE FOR THE INNER CITY
    1800 ROANOKE AVE
    CHATTANOOGA,TN37406     		NONE PC CAPITAL CAMPAIGN 30,000
    HOSANNA COMMUNITY
    6401 GRUBB ROAD PO BOX 958
    HIXSON,TN37343     		NONE PC CAPITAL EXPENDITURES 4,000
    KINGDOM PARTNERS
    PO BOX 28267
    CHATTANOOGA,TN37424     		NONE PC PROGRAM SUPPORT 30,000
    LAUNCH
    100 CHEROKEE BLVD SUITE 2101
    CHATTANOOGA,TN37405     		NONE PC PROGRAM SUPPORT 25,000
    NATIONAL MEDAL OF HONOR HERITAGE CENTER
    PO BOX 11467
    CHATTANOOGA,TN37401     		NONE PC PROGRAM SUPPORT 10,000
    ORANGE GROVE CENTER
    615 DERBY STREET
    CHATTANOOGA,TN37404     		NONE PC CAPACITY BUILDING 15,000
    RONALD MCDONALD HOUSE OF CHARITIES OF GR CHATTANOOGA INC
    200 CENTRAL AVENUE
    CHATTANOOGA,TN37403     		NONE PC CAPITAL CAMPAIGN 25,000
    SISKIN HOSPITAL FOR PHYSICAL REHABILITATION
    ONE SISKIN PLAZA
    CHATTANOOGA,TN37403     		NONE PC CAPITAL CAMPAIGN 25,000
    STREET GRACE INC
    5995 FINANCIAL DRIVE SUITE 180
    NORCROSS,GA30071     		NONE PC GENERAL OPERATING 15,000
    THE BETHLEHEM CENTER
    200 WEST 38TH STREET
    CHATTANOOGA,TN37410     		NONE PC PROGRAM SUPPORT 5,000
    TRANS WORLD RADIO
    2407 QUEENS LACE TRAIL
    CHATTANOOGA,TN37421     		NONE PC PROGRAM RELATED 2,000
    THE SPEECH & HEARING CENTER
    2212 ENCOMPASS DRIVE SUITE 148
    CHATTANOOGA,TN37421     		NONE PC TECHNOLOGY 27,748
    URBAN LEAGUE OF GREATER CHATTANOOGA
    730 E ML KING BLVD
    CHATTANOOGA,TN37403     		NONE PC PROGRAM SUPPORT 20,000
    Total .................................bullet 3a 1,196,312
    bApproved for future payment
    ARTSBUILD
    301 E 11TH STREET SUITE 300
    CHATTANOOGA,TN37403     		NONE PC OPERATING 10,000
    PUBLIC SCHOOL BIBLE STUDY COMMITTEE
    PO BOX 4228
    CHATTANOOGA,TN37405     		NONE PC OPERATING 6,000
    COMMUNITY FOUNDATION OF GREATER CHATTANOOGA
    1400 WILLIAMS STREET
    CHATTANOOGA,TN37408     		NONE PC PROGRAM RELATED 45,210
    PRISON PREVENTION MINISTRIES INC
    302 SPRUCE STREET
    CHATTANOOGA,TN37404     		NONE PC OPERATING 6,000
    SISKIN CHILDREN'S INSTITUTE
    1101 CARTER STREET
    CHATTANOOGA,TN37402     		NONE PC OPERATING 6,000
    SPARC
    6638 DECLARATION DRIVE
    HIXSON,TN37343     		NONE PC OPERATING 6,000
    GENEROSITY TRUST THE
    345 FRAZIER AVENUE UNIT 205
    CHATTANOOGA,TN37405     		NONE PC PROGRAM RELATED 33,026
    UNITED WAY OF GREATER CHATTANOOGA
    630 MARKET ST
    CHATTANOOGA,TN37402     		NONE PC PROGRAM RELATED 10,000
    Total .................................bullet 3b 122,236
    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 45,153  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 380,485  
    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 1,076,650  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 1,806,955 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,806,955
    (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:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 24,231 1,212 0 23,019

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    TY 2021 DepreciationSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    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
    1 DELL INTEL COMPUTER 2008-01-16 1,579 1,579 SL 5.000000000000 0 0 0  
    PRINTER & SCANNER FROM OFFICE DEPOT 2008-01-16 213 213 SL 5.000000000000 0 0 0  
    PRINTER/SCANNER/COPIER 2010-07-22 362 362 SL 5.000000000000 0 0 0  
    RENOVATION OF OFFICE (TU PARKS 2000-02-01 29,957 16,024 SL 40.000000000000 749 0 749  
    OFFICE EQUIPMENT 1996-11-19 460 460 SL 7.000000000000 0 0 0  
    OFFICE EQUIPMENT 1997-01-07 2,067 2,067 SL 7.000000000000 0 0 0  
    TELEPHONES 1997-03-13 135 135 SL 7.000000000000 0 0 0  
    2 BRONZE CHAIRSIDE TABLES 1999-09-30 808 808 SL 7.000000000000 0 0 0  
    1 WHITTAMORE SHERRILL SOFA 1999-09-30 2,859 2,859 SL 7.000000000000 0 0 0  
    PULASKI CREDENZA 1999-09-30 1,019 1,019 SL 7.000000000000 0 0 0  
    2 ARM CHAIRS 1999-09-30 1,226 1,226 SL 7.000000000000 0 0 0  
    BRONZE TEA TABLE 1999-09-30 458 458 SL 7.000000000000 0 0 0  
    1 LA BARGE ESUIRROR 1999-09-30 496 496 SL 7.000000000000 0 0 0  
    10 CONFERENCE CHAIRS 1999-10-08 3,450 3,450 SL 7.000000000000 0 0 0  
    TABLE TOP AND BASE 1999-10-08 697 697 SL 7.000000000000 0 0 0  
    2 DOOR CABINET 1999-10-14 559 559 SL 7.000000000000 0 0 0  
    2 GREEN MARBLE LAMPS 1999-10-14 998 998 SL 7.000000000000 0 0 0  
    OUR TOWN PRINTS (STAMPERS) 1999-11-16 698 698 SL 7.000000000000 0 0 0  
    2 FEATHERLIGHT HURRICANE LAMPS 1999-10-14 330 330 SL 7.000000000000 0 0 0  
    STYLECRAFT DESK LAMP 1999-10-14 110 110 SL 7.000000000000 0 0 0  
    MAHOGANY TYPING TABLE 1999-11-10 85 85 SL 7.000000000000 0 0 0  
    48 IN ROUND TOP &CYLINDER BASE 1999-11-10 340 340 SL 7.000000000000 0 0 0  
    TWO DOOR CABINET 1999-11-10 559 559 SL 7.000000000000 0 0 0  
    FRAMING PRINTS 1999-11-10 684 684 SL 7.000000000000 0 0 0  
    HANDMADE WINDOW DRAPERIES 1999-10-07 1,279 1,279 SL 7.000000000000 0 0 0  
    2 HANDMADE RUGS 1999-10-08 2,293 2,293 SL 7.000000000000 0 0 0  
    FRAMING 3 CALENDAR PHOTOS 2000-02-01 736 736 SL 7.000000000000 0 0 0  
    RENOVATIONS ON BRAINERD PARK - WFO, LLC 2001-10-01 511,641 252,089 SL 40.000000000000 12,791 12,791 12,791  
    IMPROVEMENTS TO OLD FLASHBACK BLDG. 2005-12-21 261,806 104,331 SL 39.000000000000 6,713 6,713 6,713  
    LANDSCAPING TO OLD FLASHBACK BLDG. 2005-12-21 13,905 13,905 SL 15.000000000000 0 0 0  
    PARKING LOT 2005-12-21 85,648 85,648 SL 15.000000000000 0 0 0  
    NEW ROOF ON SWEET BASIL BUIDLING 2007-10-23 1,820 642 SL 39.000000000000 47 47 47  
    ROOF-BLDG #5 EXCLUDING SWEET-BASIL (3 UNITS) 5841-5843 2010-06-22 19,590 5,523 SL 39.000000000000 502 502 502  
    ROOF-HARBOR FREIGHT 2010-06-23 28,308 7,987 SL 39.000000000000 726 726 726  
    ROOF - LA OLLA MEXICAN RESTURANT 2010-07-22 18,000 5,062 SL 39.000000000000 462 462 462  
    ROOF-HARBOR FREIGHT-LOWER LEVEL 2011-10-28 16,465 4,079 SL 39.000000000000 422 422 422  
    WFO,LLC LAND 1999-06-01 1,054,246   L 1.000000000000 0 0 0  
    WFO, LLC BUILDINGS 1999-01-01 175,708 98,735 SL 40.000000000000 4,387 4,387 4,387  
    SOFTWARE- GRANT LIFECYLE 2012-11-01 8,000 8,000 SL 3.000000000000 0 0 0  
    HP 8300 COMPAQ ELITE & MONITOR 2013-06-23 2,181 2,181 SL 5.000000000000 0 0 0  
    HP LASER JET PRO 400 PRINTER 2013-06-23 1,377 1,377 SL 5.000000000000 0 0 0  
    7 IPADS & COVERS & KEYBOARD 2013-12-12 4,323 4,323 SL 5.000000000000 0 0 0  
    HEATING & AIR UNIT 2014-02-04 16,500 3,120 SL 39.000000000000 423 423 423  
    PARKING LOT LIGHTS 2014-01-24 43,883 21,944 SL 15.000000000000 2,926 2,926 2,926  
    A/C UNIT 2014-09-15 6,350 1,107 SL 39.000000000000 163 163 163  
    HARBOR FREIGHT BUILDING EXPANSION 2015-09-30 8,200 1,216 SL 39.000000000000 210 210 210  
    HARBOR FREIGHT EXPANSION PROJECT 2015-07-06 800 123 SL 39.000000000000 21 21 21  
    NOVA FOUNDATION IMPROVEMENTS 2017-05-05 41,795 4,422 SL 39.000000000000 1,072 1,072 1,072  
    ARCHITECT FEES FOR HARBOR FREIGHT EXPAN 2019-09-15 37,845 1,739 SL 39.000000000000 970 970 970  
    HP LAPTOP 2018-02-20 3,006 2,103 SL 5.000000000000 601 0 601  
    5839 BRAINERD RD BLDG EXPANSION 2019-09-15 287,029 13,186 SL 39.000000000000 7,360 7,360 7,360  
    5839 BRAINERD RD BLDG EXPANSION FINAL 2019-09-15 148,920 6,841 SL 39.000000000000 3,818 3,818 3,818  
    FACADE RENOVATION ON BLDG WITH SUITE 2020-05-31 4,886 141 SL 39.000000000000 125 125 125  
    FACADE RENOVATION ON BLDG WITH SUITE# 2020-05-31 128,922 3,719 SL 39.000000000000 3,306 3,306 3,306  
    FACADE RENOVATION ON BLDG WITH SUITE# 2020-09-30 3,718 75 SL 39.000000000000 95 95 95  
    FACADE RENOVATIONS ON BLDG WITH SUITE# 2020-09-30 3,718 75 SL 39.000000000000 95 95 95  
    FACADE RENOVATIONS ON BLDG SUITES 2021-08-13 162,214   SL 39.000000000000 3,639 3,639 3,639  
    3 METAL ART SCULPTURES 2021-12-31 10,000   NC 5.000000000000 0 0 0  
    FACADE RENOVATIONS ON BLDG SUITES 2021-08-13 23,054   SL 39.000000000000 517 517 517  
    ROOF REPLACEMENT SUITE 5773 2021-12-13 72,655   SL 39.000000000000 1,009 1,009 1,009  
    ROOF REPLACEMENT SUITE 5799 2021-12-13 78,200   SL 39.000000000000 1,086 1,086 1,086  
    ROOF REPLACEMENT SUITE 5779 2022-07-25 105,400   SL 39.000000000000 0 0 0  
    HP DESKTOP COMPUTER FOR OFFICE 2022-01-21 2,559   SL 5.000000000000 256 0 213  

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Name of Bond End of Year Book Value End of Year Fair Market Value
    MERRILL LYNCH ACT#11 633,599 633,599

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Name of Stock End of Year Book Value End of Year Fair Market Value
    UBS FINANCIAL SERVICES ACT#45 803,065 803,065
    UBS FINANCIAL SERVICES ACT#46 3,032,065 3,032,065
    UBS FINANCIAL SERVICES ACT#44 2,087,429 2,087,429
    UBS FINANCIAL SERVICES ACT#31 2,089,775 2,089,775
    MERRILL LYNCH ACT#11 645,304 645,304
    MERRILL LYNCH ACT#81 2,325,456 2,325,456
    MERRILL LYNCH ACT#82 980,101 980,101
    MERRILL LYNCH ACT#83 748,958 748,958
    MERRILL LYNCH ACT#62 1,105,021 1,105,021

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    US Government Securities - End of Year Book Value:

    1,289,780
    US Government Securities - End of Year Fair Market Value:

    1,289,780
    State & Local Government Securities - End of Year Book Value:


    0
    State & Local Government Securities - End of Year Fair Market Value:


    0


    TY 2021 InvestmentsLandSchedule2
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    RENOVATIONS ON BRAINERD PARK - WFO, LLC 511,641 264,880 246,761  
    IMPROVEMENTS TO OLD FLASHBACK BLDG. 261,806 111,044 150,762  
    LANDSCAPING TO OLD FLASHBACK BLDG. 13,905 13,905 0  
    PARKING LOT 85,648 85,648 0  
    NEW ROOF ON SWEET BASIL BUIDLING 1,820 689 1,131  
    ROOF-BLDG #5 EXCLUDING SWEET-BASIL (3 UNITS) 5841-5843 19,590 6,025 13,565  
    ROOF-HARBOR FREIGHT 28,308 8,713 19,595  
    ROOF - LA OLLA MEXICAN RESTURANT 18,000 5,524 12,476  
    ROOF-HARBOR FREIGHT-LOWER LEVEL 16,465 4,501 11,964  
    WFO,LLC LAND 1,054,246 0 1,054,246  
    WFO, LLC BUILDINGS 175,708 103,122 72,586  
    HEATING & AIR UNIT 16,500 3,543 12,957  
    PARKING LOT LIGHTS 43,883 24,870 19,013  
    A/C UNIT 6,350 1,270 5,080  
    HARBOR FREIGHT BUILDING EXPANSION 8,200 1,426 6,774  
    HARBOR FREIGHT EXPANSION PROJECT 800 144 656  
    NOVA FOUNDATION IMPROVEMENTS 41,795 5,494 36,301  
    ARCHITECT FEES FOR HARBOR FREIGHT EXPAN 37,845 2,709 35,136  
    5839 BRAINERD RD BLDG EXPANSION 287,029 20,546 266,483  
    5839 BRAINERD RD BLDG EXPANSION FINAL 148,920 10,659 138,261  
    FACADE RENOVATION ON BLDG WITH SUITE 4,886 266 4,620  
    FACADE RENOVATION ON BLDG WITH SUITE# 128,922 7,025 121,897  
    FACADE RENOVATION ON BLDG WITH SUITE# 3,718 170 3,548  
    FACADE RENOVATIONS ON BLDG WITH SUITE# 3,718 170 3,548  
    FACADE RENOVATIONS ON BLDG SUITES 162,214 3,639 158,575  
    3 METAL ART SCULPTURES 10,000 0 10,000  
    FACADE RENOVATIONS ON BLDG SUITES 23,054 517 22,537  
    ROOF REPLACEMENT SUITE 5773 72,655 1,009 71,646  
    ROOF REPLACEMENT SUITE 5799 78,200 1,086 77,114  
    ROOF REPLACEMENT SUITE 5779 105,400 0 105,400  

    TY 2021 LandEtcSchedule2
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    PRINTER & SCANNER FROM OFFICE DEPOT 213 213 0  
    PRINTER/SCANNER/COPIER 362 362 0  
    RENOVATION OF OFFICE (TU PARKS 29,957 16,773 13,184  
    OFFICE EQUIPMENT 460 460 0  
    OFFICE EQUIPMENT 2,067 2,067 0  
    2 BRONZE CHAIRSIDE TABLES 808 808 0  
    1 WHITTAMORE SHERRILL SOFA 2,859 2,859 0  
    PULASKI CREDENZA 1,019 1,019 0  
    2 ARM CHAIRS 1,226 1,226 0  
    BRONZE TEA TABLE 458 458 0  
    1 LA BARGE ESUIRROR 496 496 0  
    10 CONFERENCE CHAIRS 3,450 3,450 0  
    TABLE TOP AND BASE 697 697 0  
    2 DOOR CABINET 559 559 0  
    2 GREEN MARBLE LAMPS 998 998 0  
    OUR TOWN PRINTS (STAMPERS) 698 698 0  
    2 FEATHERLIGHT HURRICANE LAMPS 330 330 0  
    STYLECRAFT DESK LAMP 110 110 0  
    MAHOGANY TYPING TABLE 85 85 0  
    48 IN ROUND TOP &CYLINDER BASE 340 340 0  
    TWO DOOR CABINET 559 559 0  
    FRAMING PRINTS 684 684 0  
    HANDMADE WINDOW DRAPERIES 1,279 1,279 0  
    2 HANDMADE RUGS 2,293 2,293 0  
    FRAMING 3 CALENDAR PHOTOS 736 736 0  
    SOFTWARE- GRANT LIFECYLE 8,000 8,000 0  
    HP 8300 COMPAQ ELITE & MONITOR 2,181 2,181 0  
    HP LASER JET PRO 400 PRINTER 1,377 1,377 0  
    7 IPADS & COVERS & KEYBOARD 4,323 4,323 0  
    HP LAPTOP 3,006 2,704 302  
    HP DESKTOP COMPUTER FOR OFFICE 2,559 256 2,303  


    TY 2021 LegalFeesSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL 23,894 23,894 0 0


    TY 2021 OtherAssetsSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LIFE INSURANCE RECEIVABLE 263,102 263,102 263,102


    TY 2021 OtherDecreasesSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Description Amount
    UNREALIZED LOSSES 4,366,696


    TY 2021 OtherExpensesSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    MEMBERSHIP DUES 647 78 0 569
    BROKERAGE MANAGEMENT FEES 155,434 155,434 0 0
    INSURANCE 7,103 0 0 7,103
    PARKING 1,200 144 0 1,056
    DIRECTORS EXPENSES 5,296 2,648 0 2,648
    MISCELLANEOUS EXPENSE 1,156 589 0 568
    OFFICE EXPENSE 10,722 1,287 0 9,435
    RENTAL EXP- ELECTRICITY OUTSIDE 3,225 3,225 0 0
    RENTAL EXP- LOT SWEEPING 5,618 5,618 0 0
    RENTAL EXP- LANDSCAPING 8,704 8,704 0 0
    RENTAL EXP- INSURANCE 23,756 23,756 0 0
    RENTAL EXP- ELECTRICITY INSIDE 179 179 0 0
    RENTAL EXP- REPAIRS & MAINTENANCE 9,575 9,575 0 0
    RENTAL EXP TENANT REPAIRS 54,401 54,401 0 0
    RENTAL EXP- WATER & SEWER 14,818 14,818 0 0
    RENTAL EXP - SECURITY EXPENSE 12,360 12,360 0 0
    RENTAL EXP - FIRE SERVICE 2,511 2,511 0 0
    RENTAL EXP - RUBBISH REMOVAL 65 65 0 0


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEASING COMMISSION 15,137 15,137 0 0
    MANAGEMENT FEES 38,189 38,189 0 0
    PROFESSIONAL & CONSULTING FEES 75,000 7,500 0 67,500


    TY 2021 TaxesSchedule
    Name:
    WELDON F OSBORNE FOUNDATION INC
    EIN:
    62-6026442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROPERTY TAXES 57,853 57,853 0 0
    FOREIGN INCOME TAXES 16,791 16,791 0 0
    TAXES & LICENSES 320 0 0 0
    FEDERAL EXCISE TAX 23,109 0 0 0