Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
THOMAS GARROTT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 919798
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
ORLANDO, FL328919798
A Employer identification number

62-6289645
B Telephone number (see instructions)

(804) 273-7445
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$20,259,161J 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 right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 449,517 447,044  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 903,221
b Gross sales price for all assets on line 6a 4,037,282
7 Capital gain net income (from Part IV, line 2)... 903,221
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 1,352,738 1,350,265  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 47,721 23,860   23,861
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)....... Click to see attachment
List of Attached Documents:
// Content
2,500 0 0 2,500
c Other professional fees (attach schedule)....       0
17 Interest...............       0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
7,637 5,023   0
19 Depreciation (attach schedule) and depletion... 0 0  
20 Occupancy..............        
21 Travel, conferences, and meetings.......   0 0  
22 Printing and publications..........   0 0  
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3 3    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 57,861 28,886 0 26,361
25 Contributions, gifts, grants paid....... 983,675 983,675
26 Total expenses and disbursements. Add lines 24 and 25 1,041,536 28,886 0 1,010,036
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 311,202
b Net investment income (if negative, enter -0-) 1,321,379
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 194,813 278,444 278,444
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow     0 0
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow0      
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)....... 3,574,626 Click to see attachment
List of Attached Documents:
// Content
4,436,038 		6,778,056
c Investments—corporate bonds (attach schedule)....... 3,691,133 Click to see attachment
List of Attached Documents:
// Content
3,564,266 		3,410,814
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 7,559,963 Click to see attachment
List of Attached Documents:
// Content
7,052,334 		9,791,847
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 15,020,535 15,331,082 20,259,161
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 15,020,535 15,331,082
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)..... 15,020,535 15,331,082
30 Total liabilities and net assets/fund balances (see instructions). 15,020,535 15,331,082
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
15,020,535
2
Enter amount from Part I, line 27a .....................
2
311,202
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
6,837
4
Add lines 1, 2, and 3 ..........................
4
15,338,574
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
7,492
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
15,331,082
Form 990-PF (2023)
Form 990-PF (2023)
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 7500. ISHARES GOLD TRUST   2021-08-19 2023-03-06
b 7500. ISHARES US TELECOMMUNICATION     2023-03-06
c 222. SPDR S&P MIDCAP 400 ETF TRUST     2023-03-06
d 5080. REAL ESTATE SELECT SECT SPDR   2018-09-07 2023-03-06
e 25000. U.S. TREASURY BILLS 4/06/23   2022-10-04 2023-04-06
200000. WALMART INC 2.550% 4/11/23   2016-07-08 2023-04-11
110000. U.S. TREASURY NOTES 1.625% 4/30/23   2022-04-08 2023-04-30
200000. PROCTER & GAMBLE CO 3.100% 8/15/23   2016-06-09 2023-08-15
1435. ABBOTT LABORATORIES   2015-12-02 2023-08-17
500. ALLSTATE CORP   2015-12-02 2023-08-17
125. APPLE COMPUTER CORPORATION COMMON   2015-12-01 2023-08-17
1590. BANK OF AMER CORP COMMON   2015-12-02 2023-08-17
355. CHEVRON TEXACO CORP COMMON   2015-12-02 2023-08-17
500. DOW INC   2017-05-16 2023-08-17
500. DUPONT DE NEMOURS INC   2017-05-16 2023-08-17
280. FEDEX CORPORATION   2019-01-09 2023-08-17
1600. GILEAD SCIENCES INC COM   2015-12-01 2023-08-17
900. MERCK & CO INC   2015-12-02 2023-08-17
95. MICROSOFT CORPORATION   2015-12-02 2023-08-17
750. PEPSICO INCORPORATED   2015-12-02 2023-08-17
633. PROCTOR AND GAMBLE COMPANY   2019-01-09 2023-08-17
495. UNION PAC CORP   2015-12-02 2023-08-17
915. VERIZON COMMUNICATIONS INC   2020-08-17 2023-08-17
1435. ABBOTT LABORATORIES   2015-12-02 2023-09-05
500. ALLSTATE CORP   2015-12-02 2023-09-05
125. APPLE COMPUTER CORPORATION COMMON   2015-12-01 2023-09-05
1585. BANK OF AMER CORP COMMON   2015-12-02 2023-09-05
352. CHEVRON TEXACO CORP COMMON   2015-12-02 2023-09-05
96. DOW INC   2017-05-16 2023-09-05
496. DUPONT DE NEMOURS INC   2017-05-16 2023-09-05
278. FEDEX CORPORATION   2019-01-09 2023-09-05
1600. GILEAD SCIENCES INC COM     2023-09-05
900. MERCK & CO INC   2015-12-02 2023-09-05
94. MICROSOFT CORPORATION   2015-12-02 2023-09-05
750. PEPSICO INCORPORATED   2015-12-02 2023-09-05
633. PROCTOR AND GAMBLE COMPANY   2019-01-09 2023-09-05
450. UNION PAC CORP   2015-12-02 2023-09-05
910. VERIZON COMMUNICATIONS INC   2020-08-17 2023-09-05
200000. U.S. TREASURY BILLS 9/07/23   2023-03-07 2023-09-07
25000. U.S. TREASURY BILLS 10/05/23   2022-10-05 2023-10-05
300. CORTEVA INC   2017-05-16 2023-10-17
100. DOW INC   2017-05-16 2023-10-17
100. DUPONT DE NEMOURS INC   2017-05-16 2023-10-17
150. SANDOZ GROUP AG SPONS ADR     2023-10-17
250. ABBOTT LABORATORIES   2015-12-02 2023-12-11
390. APPLE COMPUTER CORPORATION COMMON   2015-12-01 2023-12-11
280. FEDEX CORPORATION   2019-01-09 2023-12-11
100. MICROSOFT CORPORATION   2015-12-02 2023-12-11
600. PROCTOR AND GAMBLE COMPANY   2019-01-09 2023-12-11
100. VANGUARD INFO TECH ETF   2021-06-23 2023-12-11
300. VERIZON COMMUNICATIONS INC   2020-08-17 2023-12-11
CAPITAL GAIN DIVIDENDS P    
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(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 263,102   255,000 8,102
b 173,991   221,280 -47,289
c 107,129   81,027 26,102
d 197,296   169,951 27,345
e 24,512   24,512  
200,000   200,000  
110,000   110,000  
200,000   200,000  
150,796   65,474 85,322
54,303   31,631 22,672
21,766   3,666 18,100
46,459   28,220 18,239
57,126   32,413 24,713
27,043   30,396 -3,353
37,591   43,543 -5,952
74,143   47,595 26,548
123,469   169,292 -45,823
98,265   47,057 51,208
30,273   5,263 25,010
134,699   75,036 59,663
96,446   57,768 38,678
111,885   41,589 70,296
30,108   53,817 -23,709
146,868   65,474 81,394
54,927   31,631 23,296
23,545   3,666 19,879
45,656   28,131 17,525
58,565   32,139 26,426
5,290   5,836 -546
37,834   43,195 -5,361
72,010   47,255 24,755
122,584   168,829 -46,245
98,171   47,057 51,114
30,941   5,207 25,734
131,516   75,036 56,480
97,834   57,768 40,066
97,745   37,808 59,937
31,795   53,523 -21,728
194,925   194,925  
23,999   23,999  
15,352   11,804 3,548
5,067   6,079 -1,012
7,563   8,709 -1,146
4,862   4,021 841
26,308   11,407 14,901
75,147   11,437 63,710
76,249   47,595 28,654
36,912   5,540 31,372
87,076   54,756 32,320
46,806   39,059 7,747
11,311   17,645 -6,334
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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       8,102
b       -47,289
c       26,102
d       27,345
e        
       
       
       
      85,322
      22,672
      18,100
      18,239
      24,713
      -3,353
      -5,952
      26,548
      -45,823
      51,208
      25,010
      59,663
      38,678
      70,296
      -23,709
      81,394
      23,296
      19,879
      17,525
      26,426
      -546
      -5,361
      24,755
      -46,245
      51,114
      25,734
      56,480
      40,066
      59,937
      -21,728
       
       
      3,548
      -1,012
      -1,146
      841
      14,901
      63,710
      28,654
      31,372
      32,320
      7,747
      -6,334
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
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 2 903,221
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
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 right arrow 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) 1 18,367
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 18,367
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 18,367
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 2,614
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  
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,614
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 936
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 16,689
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow0 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
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. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
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:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowTN
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 2023 or the taxable year beginning in 2023? 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
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 addressright arrowN/A
14
The books are in care ofright arrowTRUIST BANK Telephone no.right arrow (804) 273-7445

Located atright arrowPO BOX 919798ORLANDOFL ZIP+4right arrow32891
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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 right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
TRUIST BANK TRUSTEE
1 		47,721    
PO BOX 919798
ORLANDO,FL32891
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...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
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.............right arrow0
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.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
18,847,172
b
Average of monthly cash balances.......................
1b
306,841
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
19,154,013
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
19,154,013
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
287,310
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
18,866,703
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
943,335
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
943,335
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
18,367
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
18,367
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
924,968
4
Recoveries of amounts treated as qualifying distributions................
4
1,200
5
Add lines 3 and 4............................
5
926,168
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
926,168
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
1,010,036
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,010,036
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 926,168
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 189,174
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 0
b From 2019...... 0
c From 2020...... 0
d From 2021...... 0
e From 2022...... 0
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,010,036
a Applied to 2022, but not more than line 2a 189,174
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 2023 distributable amount..... 820,862
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 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 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		105,306
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 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019.... 0
b Excess from 2020.... 0
c Excess from 2021.... 0
d Excess from 2022.... 0
e Excess from 2023.... 0
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
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).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
NONE
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
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

ADVANCE MEMPHIS

PO BOX 2201
MEMPHIS,TN38101 		NONE PC GENERAL OPERATING 2,500

AMEA MINISTRIES

307 LEONORA
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 2,000

ANTIOCH MINISTRIES INT

505 N 20TH ST
WACO,TX76707 		NONE PC GENERAL OPERATING 2,000

ARISE2READ

5885 RIDGEWAY CENTER PKWY STE 210
MEMPHIS,TN38120 		NONE PC GENERAL OPERATING 5,000

ATLANTA WESTSIDE PRESBYTERIAN CHURCH

1255 COLLIER RD NW
ATLANTA,GA30318 		NONE PC GENERAL OPERATING 2,500

AUTISM SOCIETY OF NC

5121 KINGDOM WAY 100
RALEIGH,NC27607 		NONE PC GENERAL OPERATING 200

BINGHAMPTON CHRISTIAN ACADEMY

175 TILLMAN STREET
MEMPHIS,TN38111 		NONE PC GENERAL OPERATING 1,000

BROOKS MUSEUM OF MEMPHIS

1934 POPLAR AVE MEMPHIS
MEMPHIS,TN38104 		NONE PC GENERAL OPERATING 100

CAMPUS OUTREACH

PO BOX 4458
HOUSTON,TX77210 		NONE PC GENERAL OPERATING 10,100

CENTRAL PRESBYTERIAN CHURCH

593 PARK AVE
NEW YORK,NY10065 		NONE PC GENERAL OPERATING 2,500

CHICKASAW COUNCIL

171 SOUTH HOLLYWOOD STREET
MEMPHIS,TN38112 		NONE PC GENERAL OPERATING 4,500

CHURCH HEALTH CENTER

1350 CONCOURSE AVE SUITE 142
MEMPHIS,TN38104 		NONE PC GENERAL OPERATING 11,000

COACHES HONOR

PO BOX 51139
JACKSONVILLE BEACH,FL32240 		NONE PC GENERAL OPERATING 2,500

COMMUNITY LEGAL CENTER

243 ADAMS AVE
MEMPHIS,TN38103 		NONE PC GENERAL OPERATING 100

CRU
C/O KIMBERLY YU
16444 CEDAR CREST DRIVE
ORLANDO,FL32828 		NONE PC GENERAL OPERATING 2,000

DIXON GALLERY AND GARDENS

4339 PARK AVE
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 12,200

DUCKS UNLIMITED

ONE WATERFOWL WAY
MEMPHIS,TN38120 		NONE PC GENERAL OPERATING 1,500

ELMWOOD CEMETERY OF MEMPHIS FDN

824 S DUDLEY
MEMPHIS,TN38104 		NONE PC GENERAL OPERATING 100

FOR THE KINGDOM

4100 RALEIGH MILLINGTON ROAD
MEMPHIS,TN38128 		NONE PC GENERAL OPERATING 100

HUTCHISON SCHOOL

1740 RIDGEWAY RD
MEMPHIS,TN38119 		NONE PC GENERAL OPERATING 5,000

JANE'S FUND

7804 FAIRVIEW RD PO BOX 243
CHARLOTTE,NC28226 		NONE PC GENERAL OPERATING 55,000

JIFF

254 S LAUDERDALE ST
MEMPHIS,TN38126 		NONE PC GENERAL OPERATING 100

MADONNA LEARNING CENTER

7007 POPLAR AVE
GERMANTOWN,TN38138 		NONE PC GENERAL OPERATING 5,000

MEMPHIS CHAMBER MUSIC SOCIETY

9091 ROCKY CANNON RD
CORDOVA,TN38018 		NONE PC GENERAL OPERATING 100

MEMPHIS GARDEN CLUB

4242 TUCKAHOE RD
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 100

MEMPHIS UNIVERSITY SCHOOL

6191 PARK AVE
MEMPHIS,TN38119 		NONE PC GENERAL OPERATING 11,000

MIFA

910 VANCE AVE
MEMPHIS,TN38126 		NONE PC GENERAL OPERATING 1,000

MIDTOWN FELLOWSHIP CHURCH

PO BOX 271628
HOUSTON,TX77277 		NONE PC GENERAL OPERATING 2,500

MY CUP OF TEA

3028 CARNES AVENUE
MEMPHIS,TN38111 		NONE PC GENERAL OPERATING 2,000

NATIONAL CHRISTIAN FOUNDATION
OF MEMPHIS
6070 POPLAR AVE
MEMPHIS,TN38119 		NONE PC GENERAL OPERATING 5,000

NEIGHBORHOOD CHRISTIAN CENTER

785 JACKSON AVENUE
MEMPHIS,TN38107 		NONE PC GENERAL OPERATING 10,000

ONE HUNDRED CLUB OF MEMPHIS

PO BOX 770726
MEMPHIS,TN38177 		NONE PC GENERAL OPERATING 1,000

PRESBYTERIAN DAY SCHOOL

4025 POPLAR AVE
MEMPHIS,TN38111 		NONE PC GENERAL OPERATING 2,200

REDEEMER PRESBYTERIAN CHURCH

651 COOPER STREET
MEMPHIS,TN38104 		NONE PC GENERAL OPERATING 5,000

REFORMED UNIVERSITY FELLOWSHIP

PO BOX 890004
CHARLOTTE,NC28289 		NONE PC GENERAL OPERATING 2,600

RYR-1 FOUNDATION

PO BOX 13312
PITTSBURGH,PA15243 		NONE PC GENERAL OPERATING 50,000

SANCTUARY COUNSELING CENTER

4933 WILLIAM ARNOLD ROAD
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 105,000

SEVEN MILE ROAD CHURCH

2415 12TH AVE S
NASHVILLE,TN37204 		NONE PC GENERAL OPERATING 2,500

SECOND PRESBYTERIAN CHURCH

4055 POPLAR AVENUE
MEMPHIS,TN38111 		NONE PC GENERAL OPERATING 57,000

SHELBY COUNTY CRIME COMISSION

600 JEFFERSON AVE 400
MEMPHIS,TN38105 		NONE PC GENERAL OPERATING 5,000

SLINGSHOT

802 ROZELLE STREET
MEMPHIS,TN38104 		NONE PC GENERAL OPERATING 5,000

ST JUDE

501 ST JUDE PLACE
MEMPHIS,TN38105 		NONE PC GENERAL OPERATING 2,000

ST MARYS OF THE LAKE

155 MARKET ST
MEMPHIS,TN38105 		NONE PC GENERAL OPERATING 100

ST MARY S EPISCOPAL SCHOOL

60 PERKINS EXTENDED
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 305,675

ST MARYS SCHOOL IN RALEIGH

900 HILLSBOROUGH ST
RALEIGH,NC27603 		NONE PC GENERAL OPERATING 1,000

ST PAUL'S CHURCH

PO BOX 643504
VERO BEACH,FL329643504 		NONE PC GENERAL OPERATING 15,000

ST STEPHEN'S EPISCOPAL CHURCH

6000 GROVE AVE
RICHMOND,VA23226 		NONE PC GENERAL OPERATING 100

THE CENTER - MEMPHIS

4695 CHICKASAW ROAD
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 10,000

THE JOHN'S ISLAND FOUNDATION

75 REMITTANCE DR DEPT 92072
CHICAGO,IL606752072 		NONE PC GENERAL OPERATING 5,000

THRIVE MEMPHIS

PO BOX 171136
MEMPHIS,TN38138 		NONE PC GENERAL OPERATING 2,500

THEODORE ROOSEVELT CONSERVATION PTP

529 14TH STREET NW NO 500
WASHINGTON,DC20045 		NONE PC GENERAL OPERATING 100

THE FUND FOR UNC KENAN-FLAGLER

300 KENAN CENTER DRIVE
CHAPEL HILL,NC27599 		NONE PC GENERAL OPERATING 1,000

THIRD MILLENNIUM MINISTRIES

316 LIVE OAKS BLVD
CASSELBERRY,FL32707 		NONE PC GENERAL OPERATING 15,000

UNIVERSITY OF MEMPHIS ATHLETICS

260 ATHLETICS OFFIC BLDG
MEMPHIS,TN38152 		NONE PC GENERAL OPERATING 25,000

VANDERBILT CHILDRENS HOSPITAL

2200 CHILDRENS WAY
NASHVILLE,TN37232 		NONE PC GENERAL OPERATING 5,000

WOMEN'S FOUNDATION

40 S MAIN ST 2280
MEMPHIS,TN38103 		NONE PC GENERAL OPERATING 100

YOUNG LIFE CHATTANOOGA

PO BOX 6231
CHATTANOOGA,TN37401 		NONE PC GENERAL OPERATING 100

YOUNG LIFE MEMPHIS

658 COLONIAL ROAD
MEMPHIS,TN38117 		NONE PC GENERAL OPERATING 102,000

YOUTH VILLAGES

3320 BROTHER BLVD
MEMPHIS,TN38133 		NONE PC GENERAL OPERATING 100,000
Total .................................right arrow 3a 983,675
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
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 ....     14 449,517  
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 ............ 		    18 903,221  
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) ..   1,352,738  
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,352,738
(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 (2023)
Form 990-PF (2023)
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.
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with the preparer shown below?
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Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC 2,500     2,500

TY 2023 InvestmentsCorpBondsSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Name of Bond End of Year Book Value End of Year Fair Market Value
742718EB1 PROCTER & GAMBLE CO/    
037833BY5 APPLE INC 202,799 195,134
717081DM2 PFIZER INC 201,103 198,550
58933YAR6 MERCK & CO INC 201,836 195,556
857477AN3 STATE STREET CORP 202,066 196,764
25468PDK9 WALT DISNEY COMPANY/ 204,124 193,400
437076BM3 HOME DEPOT INC 203,522 193,802
06406HCQ0 BANK OF NEW YORK MEL 205,061 196,482
931142DH3 WALMART INC    
74005PBQ6 PRAXAIR INC 203,573 194,302
12572QAJ4 CME GROUP INC 215,028 195,606
369550BM9 GENERAL DYNAMICS COR 81,733 72,043
438516BU9 HONEYWELL INTERNATIO 206,793 184,872
654106AJ2 NIKE INC 208,536 190,460
713448EZ7 PEPSICO INC 193,528 170,370
6174468C6 MORGAN STANLEY 205,642 197,108
808513BG9 CHARLES SCHWAB CORP 139,811 141,251
89115A2E1 TORONTO-DOMINION BAN 146,294 145,748
9128286R6 UNITED STATES TREASU 109,326 108,900
912828R28 UNITED STATES TREASU    
91282CDB4 UNITED STATES TREASU 23,225 24,180
341081GL5 FLORIDA PWR & LT CO 208,019 206,394
718172CX5 PHILIP MORRIS INTL I 202,247 209,892

TY 2023 InvestmentsCorpStockSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Name of Stock End of Year Book Value End of Year Fair Market Value
166764100 CHEVRON CORP 224,881 369,917
375558103 GILEAD SCIENCES INC 105,477 81,010
713448108 PEPSICO INC 125,060 212,300
594918104 MICROSOFT CORP 94,172 639,268
907818108 UNION PAC CORP 87,799 256,673
58933Y105 MERCK & CO INC 94,114 196,236
92343V104 VERIZON COMMUNICATIO 207,450 139,490
260557103 DOW INC 48,633 43,872
742718109 PROCTER & GAMBLE CO 54,756 87,924
22052L104 CORTEVA INC 47,060 57,312
26614N102 DUPONT DE NEMOURS IN 34,834 30,772
31428X106 FEDEX CORPORATION 122,387 182,138
002824100 ABBOTT LABS 34,220 82,553
020002101 ALLSTATE CORP 141,709 313,555
031162100 AMGEN INC 265,768 473,217
037833100 APPLE INC 98,534 646,901
060505104 BANK OF AMERICA CORP 177,484 336,700
00287Y109 ABBVIE INC 68,740 71,286
02079K107 ALPHABET INC CL C 35,548 37,346
023135106 AMAZON.COM INC 49,939 52,419
032654105 ANALOG DEVICES INC 66,106 73,467
03990B101 ARES MANAGEMENT CORP 44,065 53,514
064058100 BANK OF NEW YORK MEL 29,631 31,230
09247X101 BLACKROCK INC 69,069 81,180
11135F101 BROADCOM INC 128,520 167,438
125896100 CMS ENERGY CORP 50,261 52,263
142339100 CARLISLE COS INC 66,793 78,108
20030N101 COMCAST CORP-CL A 69,111 65,775
20825C104 CONOCOPHILLIPS 73,076 72,544
278865100 ECOLAB INC 60,960 62,480
291011104 EMERSON ELEC CO 68,117 68,131
30161N101 EXELON CORP 59,711 53,850
372460105 GENUINE PARTS CO 123,592 110,800
437076102 HOME DEPOT INC 131,735 138,620
446150104 HUNTINGTON BANCSHARE 37,066 41,658
46625H100 JP MORGAN CHASE & CO 73,843 85,050
482480100 KLA CORP 134,897 159,858
539830109 LOCKHEED MARTIN CORP 67,130 67,986
60871R209 MOLSON COORS BEVERAG 45,272 44,377
617446448 MORGAN STANLEY 40,999 46,625
64110L106 NETFLIX INC 30,312 31,647
65339F101 NEXTERA ENERGY INC 66,880 60,740
66987V109 NOVARTIS AG SPONSORE 71,405 75,728
67103H107 O'REILLY AUTOMOTIVE 24,225 23,752
681919106 OMNICOM GROUP 39,784 43,255
68389X105 ORACLE CORPORATION 44,688 39,536
693475105 PNC FINL SVCS GROUP 46,573 58,843
718172109 PHILIP MORRIS INTL I 74,536 74,323
723787107 PIONEER NATURAL RESO 66,271 64,091
744320102 PRUDENTIAL FINL INC 54,966 60,152
747525103 QUALCOMM INC 45,476 57,852
75513E101 RTX CORPORATION 60,007 58,898
87612G101 TARGA RESOURCES 56,404 56,466
88160R101 TESLA INC 24,101 24,848
911312106 UNITED PARCEL SERVIC 59,132 55,031
969904101 WILLIAMS-SONOMA INC 32,559 40,356
G29183103 EATON CORP PLC 80,200 86,695

TY 2023 InvestmentsOtherSchedule2
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
92204A884 VANGUARD COMMUNICATI AT COST 179,503 228,385
81369Y860 REAL ESTATE SELECT S      
921943809 VANGUARD DEVELOPED M AT COST 1,069,586 1,295,108
464288760 ISHARES DJ US AEROSP AT COST 345,050 607,680
81369Y886 UTILITIES SELECT SEC AT COST 267,702 329,633
92204A702 VANGUARD INFORMATION AT COST 710,705 1,811,612
922042858 VANGUARD FTSE EMERGI AT COST 208,232 200,075
81369Y308 CONSUMER STAPLES SEL AT COST 369,998 487,283
78467Y107 MIDCAP SPDR TRUST SE AT COST 676,119 1,166,974
81369Y209 HEALTH CARE SELECT S AT COST 319,519 495,469
81369Y407 CONSUMER DISCRETIONA AT COST 217,861 381,581
81369Y704 INDUSTRIAL SELECT SP AT COST 199,881 334,675
464287713 ISHARES U.S. TELECOM AT COST 270,793 208,937
922908629 VANGUARD INDEX FUND AT COST 92,548 116,785
46434G103 ISHARES CORE MSCI EM AT COST 251,231 244,049
464285204 ISHARES GOLD TRUST      
922908553 VANGUARD REAL ESTATE AT COST 155,349 134,926
46137V357 INVESCO S&P 500 EQUA AT COST 867,564 907,350
464287804 ISHARES CORE S&P SMA AT COST 334,780 335,575
46429B663 ISHARES TR CORE HIGH AT COST 445,442 432,438
22822V101 CROWN CASTLE INC AT COST 13,100 14,975
756109104 REALTY INCOME CORP AT COST 44,147 44,788
925652109 VICI PROPERTIES INC AT COST 13,224 13,549

TY 2023 OtherDecreasesSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Description Amount
COST BASIS ADJUSTMENT 1,640
2023 TRANSACTIONS POSTED IN 2024 5,846
ROUNDING 6


TY 2023 OtherExpensesSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE 3 3   0


TY 2023 OtherIncreasesSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Description Amount
2022 TRANSACTIONS POSTED IN 2023 4,630
ADJUSTMENT TO INCOME 176
PY ACCRUED INTEREST CARRYFORWARD TO 2023 831
RECOVERY OF PRIOR YEAR GRANT 1,200


TY 2023 TaxesSchedule
Name:
THOMAS GARROTT FOUNDATION
EIN:
62-6289645
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL ESTIMATES - PRINCIPAL 2,614 0   0
FOREIGN TAXES ON QUALIFIED FOR 2,867 2,867   0
FOREIGN TAXES ON NONQUALIFIED 2,156 2,156   0