TY 2021 Form 990PF

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)
	1	Contributions, gifts, grants, etc., received (attach schedule)	3,475,170
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	81,474	78,530
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-19,804
b	Gross sales price for all assets on line 6a 713,325
7	Capital gain net income (from Part IV, line 2)...		0
8	Net short-term capital gain.........			0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		8,164,294	8,164,253
12	Total. Add lines 1 through 11........	11,701,134	8,242,783
	13	Compensation of officers, directors, trustees, etc.	27,738	13,869		13,869
14	Other employee salaries and wages......		0	0	0
15	Pension plans, employee benefits.......		0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		910	0	0	910
c	Other professional fees (attach schedule)....					0
17	Interest...............				0
18	Taxes (attach schedule) (see instructions)...		1,221	1,115		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......		0	0
22	Printing and publications..........		0	0
23	Other expenses (attach schedule).......		8,241			8,241
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	38,110	14,984	0	23,020
25	Contributions, gifts, grants paid.......	4,672			4,672
26	Total expenses and disbursements. Add lines 24 and 25	42,782	14,984	0	27,692
	27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	11,658,352
b	Net investment income (if negative, enter -0-)		8,227,799
c	Adjusted net income (if negative, enter -0-)...			0

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	250
	2	Savings and temporary cash investments.........	399	627,792	627,792
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	104,382	11,135,557	11,081,355
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	105,031	11,763,349	11,709,147
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	105,031	11,763,349
	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).....	105,031	11,763,349
	30	Total liabilities and net assets/fund balances (see instructions).	105,031	11,763,349

(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	37.752 BLACKROCK TOTAL RETURN FD CL K		2014-11-12	2022-02-09
b	30649.846 BLACKROCK TOTAL RETURN FD CL K		2022-05-16	2022-06-15
c	845.974 BLACKROCK TOTAL RETURN FD CL K		2018-01-26	2022-06-15
d	1.307 CONESTOGA SMALL CAP INST'L		2020-03-10	2022-02-09
e	58.021 GOLDMAN SACHS GQG PTNRS INTL OPPS R6		2020-10-19	2022-02-09
	150.867 SCHRODERS INTERNATIONAL MULTI-CAP VALUE		2017-10-23	2022-02-09
	1.529 ISHARES CORE US REIT ETF		2017-12-18	2022-02-09
	1.283 METROPOLITAN WEST TOTAL RETURN BOND I		2018-01-26	2022-02-09
	45.07 METROPOLITAN WEST TOTAL RETURN BOND I		2011-05-09	2022-02-09
	33103.587 METROPOLITAN WEST TOTAL RETURN BOND I		2022-05-16	2022-06-15
	172.724 METROPOLITAN WEST TOTAL RETURN BOND I		2012-04-04	2022-06-15
	744.501 METROPOLITAN WEST TOTAL RETURN BOND I		2011-11-28	2022-06-15
	20.153 NATIONWIDE WCM FOCUSED SMALL CAP R6		2020-09-18	2022-02-09
	7497.229 PIMCO HIGH YIELD INSTL		2022-05-16	2022-07-13
	203.146 PIMCO HIGH YIELD INSTL		2018-01-26	2022-07-13
	32.915 PIMCO INTERNATIONAL BOND (USD-HDG) INST'		2021-02-18	2022-02-01
	101.158 PIMCO INTERNATIONAL BOND (USD-HDG) INST'		2017-10-23	2022-02-01
	45.99 PIMCO EMERGING MKTS LOCAL CURR & BD INST		2021-02-18	2022-02-01
	181.323 PIMCO EMERGING MKTS LOCAL CURR & BD INST		2017-10-23	2022-02-01
	11.198 VANGUARD INFLATION-PROTECTED SEC FD ADMI		2017-10-23	2022-02-09
	9.983 VANGUARD VALUE INDEX ADMIRAL #506		2017-10-23	2022-02-09
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	432	446	-14
b	314,467	322,130	-7,663
c	8,680	9,930	-1,250
d	99	72	27
e	1,158	1,006	152
	1,604	1,534	70
	96	78	18
	14	14
	475	475
	312,167	322,098	-9,931
	1,629	1,818	-189
	7,021	7,793	-772
	591	432	159
	57,879	59,681	-1,802
	1,568	1,842	-274
	350	362	-12
	1,076	1,079	-3
	283	317	-34
	1,115	1,337	-222
	308	287	21
	580	398	182
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733
			1,733

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			-14
b			-7,663
c			-1,250
d			27
e			152
			70
			18


			-9,931
			-189
			-772
			159
			-1,802
			-274
			-12
			-3
			-34
			-222
			21
			182

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-19,804
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 ...................		3

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	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	114,366
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	114,366
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	76
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	40,915
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	40,991
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.......		9	73,375
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax0	Refunded	11	0

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
Janice Tibbals	PRESIDENT 3	0
1735 Cherokee Blvd Knoxville,TN37919
SHARON MILLER PRYSE	VP/TREASURER 3	0
4823 OLD KINGSTON PIKE KNOXVILLE,TN37919
THE TRUST COMPANY OF TENNESSEE	TRUSTEE 5	27,738
4823 OLD KINGSTON PIKE SUITE 100 KNOXVILLE,TN37919
JOSEPH P CONGLETON	SECRETARY 3	0
7004 Sherwood Drive Knoxville,TN37919

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

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

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7					109,743
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......				4,672
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2021:
a From 2016......	0
b From 2017......	0
c From 2018......	0
d From 2019......	0
e From 2020......	0
f Total of lines 3a through e ........		0
4Qualifying distributions for 2021 from Part
XI, line 4: $ 27,692
a Applied to 2020, but not more than line 2a				4,672
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.....					23,020
e Remaining amount distributed out of corpus		0
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		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........					86,723
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) ...		0
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2017....	0
b Excess from 2018....	0
c Excess from 2019....	0
d Excess from 2020....	0
e Excess from 2021....	0

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	(e) Total

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

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

3 Grants and Contributions Paid During the Year or Approved for Future Payment
aPaid during the year
RINGLING MUSEUM OF ART 5401 BAY SHORE ROAD SARASOTA,FL34243	NONE	PC	GENERAL SUPPORT	4,672
Total ................................. 3a	4,672

Line No.	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.)

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

(a) Name of organization	(b) Type of organization	(c) Description of relationship

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

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	(e) Related or exempt function income (See instructions.)
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	-19,804
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) ..				8,225,964

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Name of organization TIBBALS FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	Howard C Tibbals 1505 Hillview Drive Sarasota, FL34239	$ 3,475,170	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Name of organization TIBBALS FOUNDATION		Employer identification number 58-1830372

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2021)


(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...................				0

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
RINGLING MUSEUM OF ART 5401 BAY SHORE ROAD SARASOTA,FL34243	NONE	PC	GENERAL SUPPORT	4,672
Total ................................. 3a				4,672

bApproved for future payment

Total ................................. 3b


Name of organization TIBBALS FOUNDATION			Employer identification number 58-1830372
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BLACKROCK TOTAL RETURN FD CLAS
METROPOLITAN WEST TOTAL RETURN	AT COST	898,229	873,971
CONESTOGA SMALL CAP INST'L	AT COST	451,405	468,163
VANGUARD 500 INDEX FD #540 ADM	AT COST	1,388,811	1,406,403
VANGUARD GROWTH INDEX ADMIRAL	AT COST	910,163	881,150
VANGUARD VALUE INDEX ADMIRAL #	AT COST	939,415	992,076
SCHRODERS INTERNATIONAL MULTI-	AT COST	963,297	968,036
PIMCO EMERGING LOCAL BOND
PIMCO HIGH YIELD INSTL
VANGUARD INFLATION PROTECTED S	AT COST	101,029	93,374
ISHARES CORE US REIT ETF	AT COST	234,626	218,522
NATIONWIDE WCM FOCUSED SMALL C	AT COST	461,610	475,282
GOLDMAN SACHS GQG PTNRS INTL	AT COST	955,325	973,318
JP MORGAN EMERGING MARKETS EQU	AT COST	934,610	944,649
BLACKROCK STRATEGIC INCOME OPP	AT COST	1,006,637	976,566
PIMCO INTERNATIONAL BOND (USD-
DWS RREEF REAL ASSETS INSTL	AT COST	555,613	523,538
ARTISAN HIGH INCOME ADVISOR	AT COST	165,098	160,132
JP MORGAN CORE BOND R6	AT COST	897,909	866,148
PGIM GLOBAL TOTAL RETURN R6	AT COST	271,780	260,027

Category	Amount	Net Investment Income
FEDERAL TAX PAYMENT - PRIOR YE	30	0
FEDERAL ESTIMATES - PRINCIPAL	76	0
FOREIGN TAXES ON QUALIFIED FOR	876	876
FOREIGN TAXES ON NONQUALIFIED	239	239

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