TY 2023 Form 990PF

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.............		19,263	19,263
	2	Savings and temporary cash investments.........	4,254,853	2,593,414	2,593,414
	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)		List of Attached Documents: // Content 1,642,156	1,677,221
	b	Investments—corporate stock (attach schedule).......	11,842,986
	c	Investments—corporate bonds (attach schedule).......	689,576	List of Attached Documents: // Content 729,411	732,559
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........		List of Attached Documents: // Content 336,518	337,050
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )		List of Attached Documents: // Content 10,795,291	List of Attached Documents: // Content 13,332,239
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	16,787,415	16,116,053	18,691,746
	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........	16,787,415	16,116,053
	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).....	16,787,415	16,116,053
	30	Total liabilities and net assets/fund balances (see instructions).	16,787,415	16,116,053

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

16,787,415

Enter amount from Part I, line 27a .....................

-660,474

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

634

Add lines 1, 2, and 3 ..........................

16,127,575

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

11,522

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

16,116,053

(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	105000. GOLDMAN SACHS GROUP INC SR GLBL FL NT VAR RATE DTD 01/23/2018		2020-02-24	2023-02-23
b	105078.493 T ROWE PR INST FLTNG RT-INST			2023-03-21
c	250000. BANK AMERICA CORP VAR RATE DTD 07/23/2018 DUE		2021-04-28	2023-07-23
d	250000. JPMORGAN CHASE & CO SR GLBL FL NT VAR RATE DTD 07/23/2018 DUE		2021-04-28	2023-07-23
e	80000. PFIZER INC SR GLBL FL NT VAR RATE DTD 09/07/2018 DUE		2020-02-24	2023-09-15
	33008.963 MATTHEWS PACIFIC TIGER-INST			2023-12-21
	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	105,000	105,000
b	964,621	1,025,000	-60,379
c	250,000	252,330	-2,330
d	250,000	252,120	-2,120
e	80,000	80,000
	600,103	968,415	-368,312
			92,620
			92,620
			92,620
			92,620
			92,620
			92,620

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
b			-60,379
c			-2,330
d			-2,120
e
			-368,312

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	-340,521
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)	1	5,756
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	5,756
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	5,756
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	3,769
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	3,769
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	1,987
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 2024 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-)
CIBC National Trust Company	TRUSTEE 0	54,985
100 FEDERAL ST 37TH FLOOR BOSTON,MA02210
ROBERT A NIBLOCK	MANAGER 0	0
116 LOWES FOODS DRIVE 107 LEWISVILLE,NC27023

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 2022	(c) 2022	(d) 2023
1 Distributable amount for 2023 from Part X, line 7					860,808
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......				800,875
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: $ 1,013,746
a Applied to 2022, but not more than line 2a				800,875
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.....					212,871
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 ..........					647,937
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

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	(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
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
FORSYTH COUNTRY DAY SCHOOL INC PO BOX 549 LEWISVILLE,NC27023	NONE	PC	TO FUND SCHOLARSHIP PROGRAM	500,000
FOUNDATION OF THE UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE 9201 UNIVERSITY CITY BLVD Charlotte,NC28223	NONE	PC	TO FUND SCHOLARSHIP PROGRAM	500,000
Total ................................. 3a				1,000,000

	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)	250,492
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	490,114		460,397
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-340,521
b	Gross sales price for all assets on line 6a 2,342,344
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).......
12	Total. Add lines 1 through 11........	400,085		460,397
13	Compensation of officers, directors, trustees, etc.	54,985		41,238		13,746
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).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	5,574	5,074		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).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	60,559		46,312	0	13,746
25	Contributions, gifts, grants paid.......	1,000,000				1,000,000
26	Total expenses and disbursements. Add lines 24 and 25	1,060,559		46,312	0	1,013,746
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-660,474
b	Net investment income (if negative, enter -0-)			414,085
c	Adjusted net income (if negative, enter -0-)...				0

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 ....			14	490,114
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	-340,521
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) ..				149,593

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

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.


(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

bApproved for future payment

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

Name of organization MART 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	NIBLOCK 2020 CLAT 100 FEDERAL ST 37TH FLOOR BOSTON, MA02110	$ 250,492	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) (2023)

Name of organization MART FOUNDATION		Employer identification number 81-3022126

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) (2023)


Name of organization MART FOUNDATION			Employer identification number 81-3022126
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.

Name of Bond	End of Year Book Value	End of Year Fair Market Value
APPLE INC SR GLBL FL NT VAR RA
AMERICAN EXPRESS CO ST NT 2.65
BANK AMER CORP VAR RATE DTD 07
CITIGROUP INC SR GLBL FL NT VA
DISNEY WALT CO MTNS GLBL 2.35%
GOLDMAN SACHS GROUP INC SR GLB
GOLDMAN SACHS GROUP INC SR GLB
JPMORGAN CHASE & CO SR GLBL FL
PFIZER INC SR GLBL FL NT VAR R
00206RJY9 AT&T INC 2.75% 01 JU	65,148	65,859
00287YBZ1 ABBVIE INC 2.6% 21 N	73,203	73,264
06051GFM6 BANK OF AMERICA CORP	73,721	73,995
20030NCT6 COMCAST CORP 4.15% 1	73,724	73,955
254687FQ4 WALT DISNEY COMPANY/	72,345	72,935
285512AD1 ELECTRONIC ARTS INC	75,015	75,122
38143U8H7 GOLDMAN SACHS GROUP	73,066	73,299
458140CG3 INTEL CORP 5.2% 10 F	77,913	78,351
61746BEF9 MORGAN STANLEY 3.625	72,494	72,759
863667AH4 STRYKER CORP 3.375%	72,782	73,020

Name of Stock	End of Year Book Value	End of Year Fair Market Value
CIBC ATLAS INCOME OPPORTUNITIE
VERSUS CAPITAL MULTI-MANAGER R
CIBC ATLAS DISCIPLINED EQUITY
ISHARES CORE S&P SMALL-CAP ETF
ISHARES CORE S&P 500 ETF
ISHARES RUSSELL MID-CAP ETF
MFS INSTITUTIONAL INTERNATIONA
HARDING LOEVNER INSTITUTEMERGI
MATTHEWS PACIFIC TIGER FUND- I
T ROWE PRICE INSTITUTIONAL FLO
HAMLIN HIGH DIVIDEND EQUITY FU
CHAMPLAIN MID CAP FUND - INS #
CIBC ATLAS ALL CAP GROWTH FUND
CREDIT SUISSE COMMODITY RETURN
TWEEDY BROWNE GLOBAL VALUE FUN
VERSUS CAPITAL REAL ASSETS FUN
COHEN & STEERS PREFERRED SECUR
VERSUS CAPITAL MULTI-MANAGER R
J P MORGAN EXCHANGE TRADED FD
CONESTOGA SMALL CAP FUND - INS

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
3130AFFX0 FEDERAL HOME LOAN BA	AT COST	169,877	169,836
3135G0K36 FANNIE MAE 2.125% 24	AT COST	166,641	167,214

Description	End of Year - Book Value	End of Year - Fair Market Value
00766Y513 CHAMPLAIN MID CAP FU	699,517	839,151
00769G170 CIBC ALTAS ALL CAP G	1,172,068	1,370,178
00769G451 CIBC ATLAS INC OPPOR	640,572	869,875
00769G493 CIBC ATLAS DISC EQTY	1,072,169	1,552,088
00769G741 HAMLIN HIGH DIVIDEND	1,916,469	2,263,901
XXX-XX-XXXX CONESTOGA SMALL CAP-	343,218	449,971
XXX-XX-XXXX EV GLBL MACR ABS RTR	300,000	298,547
XXX-XX-XXXX ISHARES CORE S&P 500	597,256	1,098,549
XXX-XX-XXXX ISHARES RUSSELL MID-	502,442	816,165
XXX-XX-XXXX ISHARES CORE S&P SMA	358,007	480,089
46641Q332 JPMORGAN EQUITY PREM	499,831	486,298
XXX-XX-XXXX MFS INSTL INTL EQUIT	682,880	832,077
XXX-XX-XXXX TWEEDY BROWNE INTL V	666,894	612,866
91282CFA4 US TREASURY N/B 3% 3	98,734	98,820
91282CFT3 US TREASURY N/B 4% 3	85,027	85,395
91282CFU0 US TREASURY N/B 4.12	85,199	85,535
91282CFV8 US TREASURY N/B 4.12	101,191	101,648
91282CGU9 US TREASURY N/B 3.87	84,070	84,253
91282CHR5 US TREASURY N/B 4% 3	100,113	100,547
92532P207 VERSUS CAP MM RL EST	503,391	475,520
92535N100 VERSUS CAP RL EST	286,243	330,766

Category	Amount	Net Investment Income
FEDERAL ESTIMATES - PRINCIPAL	500	0
FOREIGN TAXES ON QUALIFIED FOR	3,939	3,939
FOREIGN TAXES ON NONQUALIFIED	1,135	1,135

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