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

62-0476283
B Telephone number (see instructions)

(423) 267-4311
C 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$104,799,873J 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... 383,528 1,260,568  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 4,605,727
b Gross sales price for all assets on line 6a 14,303,582
7 Capital gain net income (from Part IV, line 2)... 5,835,453
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
-55,344 352  
12 Total. Add lines 1 through 11........ 4,933,911 7,096,373  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 275,000 38,005   0
14 Other employee salaries and wages...... 422,506 58,390   601,111
15 Pension plans, employee benefits....... 121,530 16,795   104,735
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
25,170 2,517   22,653
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion... 5,537 5,537  
20 Occupancy.............. 142,711 14,271   128,440
21 Travel, conferences, and meetings....... 10,066 1,007   9,059
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
334,371 1,440,217   314,284
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,336,891 1,576,739   1,180,282
25 Contributions, gifts, grants paid....... 5,390,554 4,983,175
26 Total expenses and disbursements. Add lines 24 and 25 6,727,445 1,576,739   6,163,457
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,793,534
b Net investment income (if negative, enter -0-) 5,519,634
c Adjusted net income (if negative, enter -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............. 58,637 70,539 70,539
2 Savings and temporary cash investments......... 1,353,902 1,231,419 1,231,419
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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 arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 10,772 10,772 10,772
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 93,614,063 Click to see attachment
List of Attached Documents:
// Content
98,091,291 		98,091,291
14 Land, buildings, and equipment: basis right arrow479,280
Less: accumulated depreciation (attach schedule) right arrow458,991 19,921 20,289 20,289
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
7,410,564 		Click to see attachment
List of Attached Documents:
// Content
5,375,563 		Click to see attachment
List of Attached Documents:
// Content
5,375,563
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 102,467,859 104,799,873 104,799,873
Liabilities 17 Accounts payable and accrued expenses.......... 87,500 97,500
18 Grants payable................. 4,280,000 4,720,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
3,502 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 4,371,002 4,817,500
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........... 98,096,857 99,982,373
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........    
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)..... 98,096,857 99,982,373
30 Total liabilities and net assets/fund balances (see instructions). 102,467,859 104,799,873
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
98,096,857
2
Enter amount from Part I, line 27a .....................
2
-1,793,534
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
3,749,125
4
Add lines 1, 2, and 3 ..........................
4
100,052,448
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
70,075
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
99,982,373
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 CAPITAL GAINS ON SALE OF INVESTMENTS P    
b CAPITAL GAINS FROM PASSTHROUGH P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 13,073,856   8,468,129 4,605,727
b 1,229,726     1,229,726
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       4,605,727
b       1,229,726
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 5,835,453
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 76,723
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 76,723
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 76,723
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 156,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 156,000
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.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 79,277
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow79,277 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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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, DE
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrowWWW.BENWOOD.ORG
14
The books are in care ofright arrowSARAH MORGAN Telephone no.right arrow (423) 267-4311

Located atright arrow736 MARKET ST STE 1600CHATTANOOGATN ZIP+4right arrow37402
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)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
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
PAUL K BROCK JR TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
KEN JONES TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
SARAH MORGAN PRESIDENT
40.00 		275,000 47,258 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
VALORIA ARMSTRONG TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
ELAINE SWAFFORD TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
STEPHEN CULP TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
ERIC FULLER TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
TODD WOMACK TRUSTEE
2.00 		0 0 0
736 MARKET SUITE STE 1600
CHATTANOOGA,TN37402
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
JEFF C PFITZER PROGRAM OFFICER
40.00 		152,533 31,105 0
736 MARKET STREET STE 1600
CHATTANOOGA,TN37402
LORI QUILLEN PROGRAM OFFICER
40.00 		111,093 24,581 0
736 MARKET STREET STE 1600
CHATTANOOGA,TN37402
CONNIE R PERRIN ACCOUNTING & GRANTS
40.00 		96,371 23,975 0
736 MARKET STREET STE 1600
CHATTANOOGA,TN37402
MARSHA T ORR ADMINISTRATIVE ASSIS
40.00 		62,510 20,082 0
736 MARKET STREET STE 1600
CHATTANOOGA,TN37402
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 arrow0
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
101,550,316
b
Average of monthly cash balances.......................
1b
1,907,209
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
103,457,525
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
103,457,525
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,551,863
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
101,905,662
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
5,095,283
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
5,095,283
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
76,723
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
76,723
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
5,018,560
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
5,018,560
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
5,018,560
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
6,163,457
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
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
6,163,457
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 5,018,560
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 755,814
b From 2019...... 3,097,608
c From 2020...... 2,372,831
d From 2021......  
e From 2022...... 1,187,162
f Total of lines 3a through e ........ 7,413,415
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 6,163,457
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 5,018,560
e Remaining amount distributed out of corpus 1,144,897
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 8,558,312
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 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		755,814
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		7,802,498
10 Analysis of line 9:
a Excess from 2019.... 3,097,608
b Excess from 2020.... 2,372,831
c Excess from 2021....  
d Excess from 2022.... 1,187,162
e Excess from 2023.... 1,144,897
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).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
MS SARAH MORGAN
736 MARKET ST SUITE 1600
CHATTANOOGA,TN37402
(423) 267-4311
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS SHOULD BE SUBMITTED IN THE FORM OF A BRIEF TWO-PAGE LETTER. THE LETTER SHOULD INCLUDE A DESCRIPTION OF THE PROJECT OR PURPOSE, BUDGET INFORMATION, AN IRS LETTER OF DETERMINATION, AND A LISTING OF OFFICERS AND BOARD OF DIRECTORS.
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
Form 990-PF (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

AMERICAN ASSOCIATION OF BLACKS IN ENERGY CHATTANOOGA CHAPTER

1625 K ST SUITE 405
WASHINGTON,DC20006 		NONE PC CHAPTER SCHOLARSHIP FUND 1,000

AMERICAN HEART ASSOCIATION

7272 GREENVILLE AVENUE
DALLAS,TX75231 		NONE PC CHATTANOOGA GO RED FOR WOMEN-STEM 10,000

ART 120

100 CHEROKEE BLVD 121
CHATTANOOGA,TN37405 		NONE PC INTERNATIONAL MARKET & OTHER CULTURAL EVENTS 25,000

ARTSBUILD

730 E M L KING BLVD
CHATTANOOGA,TN37403 		NONE PC GENERAL OPERATING SUPPORT 150,000

ARTSBUILD

730 E M L KING BLVD
CHATTANOOGA,TN37403 		NONE PC CREATIVE ENTREPRENEUR TRAINING 10,000

ASSOCIATION OF INFANT MENTAL HEALTH IN TENNESSEE

446 METROPLEX DR SUITE A-224
NASHVILLE,TN37211 		NONE PC ANNUAL CONFERENCE 2,000

BELOVED WOMAN

700 PINE STREET
CHATTANOOGA,TN37402 		NONE PC GENERAL OPERATING SUPPORT 10,000

CHATT FOUNDATIONCHATTANOOGA COMMUNITY KITCHEN

727 E 11TH ST
CHATTANOOGA,TN37403 		NONE PC KITCHEN RENOVATION 8,000

CHATTANOOGA BAR FOUNDATION

801 BROAD ST SUITE 420
CHATTANOOGA,TN37402 		NONE PC CLERKSHIP PROGRAM 5,000

CHATTANOOGA CHAMBER FOUNDATION

811 BROAD STREET SUITE 100
CHATTANOOGA,TN37402 		NONE PC BUILDWITHIN APPRENTICESHIPS 100,000

CHATTANOOGA CHAMBER FOUNDATION

811 BROAD STREET SUITE 100
CHATTANOOGA,TN37402 		NONE PC CHATTANOOGA 2.0 OPERATING & PROGRAMMATIC SUPPORT 375,000

CHATTANOOGA CHAMBER FOUNDATION

811 BROAD STREET SUITE 100
CHATTANOOGA,TN37402 		NONE PC DATA VISUALIZATION DASHBOARD 10,000

CHATTANOOGA DESIGN STUDIO

719 CHERRY STREET SUITE 100
CHATTANOOGA,TN37402 		NONE PC GENERAL OPERATING SUPPORT 120,000

CHATTANOOGA DESIGN STUDIO

719 CHERRY STREET SUITE 100
CHATTANOOGA,TN37402 		NONE PC MONTAGUE PARK PLANNING 125,000

CHATTANOOGA FC FOUNDATION

1271 MARKET STREET SUITE C
CHATTANOOGA,TN37402 		NONE PC MONTAGUE PARK DESIGN 10,000

CHATTANOOGA NEIGHBORHOOD ENTERPRISE

1500 CHESTNUT STREET ST 102
CHATTANOOGA,TN37408 		NONE PC MANUFACTURED HOUSING PROTOTYPE 75,000

CHATTANOOGA NEIGHBORHOODS ARTS PARTNERSHIP

PO BOX 3192
CHATTANOOGA,TN37404 		NONE PC FESTIVAL OF BLACK ARTS & IDEAS 25,000

CHATTANOOGA PREPARATORY SCHOOL

1849 UNION AVE
CHATTANOOGA,TN37404 		NONE PC CURRICULUM FOR MATH & ELA 75,000

CHATTANOOGA STATE COMMUNITY COLLEGE

4501 AMNICOLA HIGHWAY
CHATTANOOGA,TN37406 		NONE GOV REIMAGINING THE COMMUNITY COLLEGE EXPERIENCE 150,000

CHATTANOOGA STATE FOUNDATION

4501 AMNICOLD HWY
CHATTANOOGA,TN37406 		NONE PC BENWOOD HEALTH EDUCATION SCHOLARSHIP 5,000

CHATTANOOGA SYMPHONY & OPERA

620 LINDSAY ST UNIT 210
CHATTANOOGA,TN37403 		NONE PC SUPPORT DURING RENOVATIONS OF THE TIVOLI THEATRE 10,000

CHATTANOOGANS IN ACTION FOR LOVE EQUALITY AND BENEVOLENCE

2901 TAYLOR ST SUITE 100
CHATTANOOGA,TN37406 		NONE PC GENERAL OPERATING SUPPORT 65,000

CHATTANOOGANS IN ACTION FOR LOVE EQUALITY AND BENEVOLENCE

2901 TAYLOR ST SUITE 100
CHATTANOOGA,TN37406 		NONE PC BOND FUND 5,000

CITY OF CHATTANOOGA

3300 AMNICOLA HWY
CHATTANOOGA,TN37406 		NONE GOV NATIONAL PARK CITY LAUNCH 57,000

CITY OF CHATTANOOGA

3300 AMNICOLA HWY
CHATTANOOGA,TN37406 		NONE GOV MILLER PARK IMPROVEMENTS 100,000

CITY OF CHATTANOOGA

3300 AMNICOLA HWY
CHATTANOOGA,TN37406 		NONE GOV DIVISION OF ARTS, CULTURE & CREATIVE ECONOMY 10,000

COLAB

110 SOMERVILLE AVE STE 266
CHATTANOOGA,TN37405 		NONE PC GENERAL OPERATING SUPPORT 225,000

COLAB

110 SOMERVILLE AVE STE 266
CHATTANOOGA,TN37405 		NONE PC CO.MOBILITY SUMMIT 10,000

COMMUNITY FOUNDATION OF GREATER CHATTANOOGA

1270 MARKET ST
CHATTANOOGA,TN37402 		NONE PC COACHING FOR NEW NON-PROFIT 10,000

COMMUNITY FOUNDATION OF GREATER CHATTANOOGA

1270 MARKET ST
CHATTANOOGA,TN37402 		NONE PC SIGMA GAMMA RHO SORORITY'S SCHOLARSHIP FUND 1,000

DELTAS SERVING TOGETHER INC

PO BOX 22083
CHATTANOOGA,TN37422 		NONE PC DELTA SIGMA THETA SORORITY SCHOLARSHIP PROGRAM 5,500

DELTAS SERVING TOGETHER INC

PO BOX 22083
CHATTANOOGA,TN37422 		NONE PC SOCIAL ACTION COMMITTEE 2,000

DISCOVERY LEARNERS ACADEMY

4315 BRAINERD RD
CHATTANOOGA,TN37411 		NONE PC GENERAL OPERATING SUPPORT 7,500

DRESS FOR SUCCESS CHATTANOOGA

3712 RINGGOLD RD UNIT 339
CHATTANOOGA,TN37412 		NONE PC GENERAL OPERATING SUPPORT 7,500

DYNAMO STUDIOS

6452 WHITE TAIL DR
OOLTEWAH,TN37363 		NONE PC GENERAL OPERATING SUPPORT 40,000

DYNAMO STUDIOS

6452 WHITE TAIL DR
OOLTEWAH,TN37363 		NONE PC NEW TEACHING FACILITY AT THE SOUTH CHATTANOOGA RECREATION CENTER 10,000

EAST BRAINERD CHURCH OF CHRIST

7745 E BRAINERD RD
CHATTANOOGA,TN37421 		NONE PC SNACK PACK MINISTRY 7,500

EAST TENNESSEE STATE UNIVERSITY

PO BOX 70601
JOHNSON CITY,TN37614 		NONE GOV BLUESKY INSTITUTE SCHOLARSHIPS 150,000

ERLANGER HEALTH SYSTEM FOUNDATIONS

975 E 3RD ST SUITE B-508
CHATTANOOGA,TN37404 		NONE PC RELOCATE/RENOVATE DODSON AVENUE COMMUNITY HEALTH CENTER 30,000

FRIENDS OF OUTDOOR CHATTANOOGA INC

200 RIVER ST
CHATTANOOGA,TN37405 		NONE PC CITY OF CHATTANOOGA'S NATIONAL PARK CITY INITIATIVE 7,500

FRIENDS OF THE FESTIVAL

426 MARKET ST
CHATTANOOGA,TN37402 		NONE PC TO SUPPORT LOCAL & DIVERSE ARTISTS AT RIVERBEND FESTIVAL 7,500

GAMMA PI BOULE' FOUNDATION

PO BOX 11396
CHATTANOOGA,TN37401 		NONE PC PAUL A. MCDANIEL BOULE' SCHOLARSHIP PROGRAM 4,000

GIRLS INCORPORATED OF CHATTANOOGA

4505 BRAINERD RD
CHATTANOOGA,TN37411 		NONE PC GENERAL OPERATING SUPPORT 25,000

GRANTMAKERS FOR EDUCATION

700 SW 5TH AVE SUITE 4000
PORTLAND,OR97204 		NONE PC MEMBERSHIP DUES 2,200

GREENSPACES

63 E MAIN STREET
CHATTANOOGA,TN37402 		NONE PC BUILD IT GREEN COMMUNITY EVENTS 10,000

GREENSPACES

63 E MAIN STREET
CHATTANOOGA,TN37402 		NONE PC 2023 CHATTANOOGA GREEN PRIX 10,000

HABITAT FOR HUMANITY

1201 E MAIN ST
CHATTANOOGA,TN37408 		NONE PC HABITAT HOME REPAIR 65,000

HABITAT FOR HUMANITY

1201 E MAIN ST
CHATTANOOGA,TN37408 		NONE PC AFFORDABLE HOUSING PROJECT ON SHALLOWFORD ROAD 5,000

HAMILTON COUNTY DEPARTMENT OF EDUCATION

3074 HICKORY VALLEY RD
CHATTANOOGA,TN37421 		NONE GOV PRAXIS TESTING PROGRAM AND MALE TEACHER RECRUITMENT 10,000

HAMILTON COUNTY SCHOOLS FOUNDATION

3074 HICKORY VALLEY RD
CHATTANOOGA,TN37421 		NONE PC TEACHER SUPPLY HUB 2,500

HUNTER MUSEUM OF AMERICAN ART

10 BLUFF VIEW ST
CHATTANOOGA,TN37403 		NONE PC OUTREACH WITH ARTS 10,000

JUNIOR ACHIEVEMENT OF CHATTANOOGA

5721 MARLIN RD SUITE 3400
CHATTANOOGA,TN37411 		NONE PC GENERAL OPERATING SUPPORT 3,000

LA PAZ CHATTANOOGA

1402 BAILEY AVE
CHATTANOOGA,TN37404 		NONE PC GENERAL OPERATING SUPPORT 100,000

LAUNCH CHATTANOOGA

100 CHEROKEE BLVD STE 201
CHATTANOOGA,TN37405 		NONE PC GENERAL OPERATING SUPPORT 125,000

LAUNCH CHATTANOOGA

100 CHEROKEE BLVD STE 201
CHATTANOOGA,TN37405 		NONE PC ACQUISITION OF KITCHEN INCUBATOR BUILDING 100,000

LEADERSHIP TENNESSEE

718 THOMPSON LN
NASHVILLE,TN37204 		NONE PC LEADERSHIP PROGRAM 10,000

LIGHTHOUSE COLLECTIVE INC

3731 DORRIS ST
CHATTANOOGA,TN37410 		NONE PC THE LIGHTHOUSE SCHOLARS 25,000

LOOKOUT FILM FESTIVAL INC

3025 PRESTONS STATION DR
HIXSON,TN37343 		NONE PC 2024 LOOKOUT WILD FILM FESTIVAL 10,000

LOOKOUT MOUNTAIN CONSERVANCY

PO BOX 76
LOOKOUT MOUNTAIN,TN37350 		NONE PC LAWN EQUIPMENT 5,000

MARY WALKER HISTORICAL AND EDUCATIONAL FOUNDATION INC

7 N TUXEDO AVE
CHATTANOOGA,TN37411 		NONE PC REACH SUMMER CAMP 25,000

MEDICOS MISSION FUND

1300 E 23RD ST
CHATTANOOGA,TN37404 		NONE PC EXPANSION OF HEALTH SERVICES 200,000

NATIONAL COALITION OF 100 BLACK WOMEN CHATTANOOGA CHAPTER INC

PO BOX 22783
CHATTANOOGA,TN37422 		NONE PC CHAPTER SCHOLARSHIP FUND 3,000

NATIONAL COALITION OF 100 BLACK WOMEN CHATTANOOGA CHAPTER INC

PO BOX 22783
CHATTANOOGA,TN37422 		NONE PC PUBLIC POLICY COMMITTEE 1,000

ORANGE GROVE CENTER

615 DERBY ST
CHATTANOOGA,TN37404 		NONE PC GENERAL OPERATING SUPPORT 1,000

PHILANTHROPY SOUTHEAST

100 PEACHTREE ST NW SUITE 2080
ATLANTA,GA30303 		NONE PC MEMBERSHIP DUES 10,600

POP-UP PROJECT

704 MARKET STREET
CHATTANOOGA,TN37402 		NONE PC GENERAL OPERATING SUPPORT 25,000

POP-UP PROJECT

704 MARKET STREET
CHATTANOOGA,TN37402 		NONE PC WINTER PERFORMANCES @ COOSA MILL 7,500

PROOF PROGRAMS

422 E MARTIN LUTHER KING BLVD
CHATTANOOGA,TN37403 		NONE PC GENERAL OPERATING SUPPORT 150,000

PUBLIC EDUCATION FOUNDATION

1651 S HOLTZCLAW AVE SUITE 201
CHATTANOOGA,TN37404 		NONE PC BRIDGING THE GAP SCHOLARSHIP PROGRAM 75,000

PUBLIC EDUCATION FOUNDATION

1651 S HOLTZCLAW AVE SUITE 201
CHATTANOOGA,TN37404 		NONE PC HAMILTON COUNTY'S COLLEGE SUCCESS INITIATIVE 200,000

PURPOSE POINT COMMUNITY RESOURCE CENTER

PO BOX 24533
CHATTANOOGA,TN37421 		NONE PC EXPANSION OF EARLY LEARNING 200,000

RED BANK ELEMENTARY SCHOOL

1100 MOUNTAIN CREEK RD
CHATTANOOGA,TN37405 		NONE GOV FOREST SCHOOL EXPANSION 45,000

RISE CHATTANOOGA

2901 TAYLOR STREET
CHATTANOOGA,TN37406 		NONE PC CHATTANOOGA FOOD & DRINK FESTIVAL 25,000

RISE CHATTANOOGA

2901 TAYLOR STREET
CHATTANOOGA,TN37406 		NONE PC EASTDALE COMMUNITY FESTIVAL 1,875

RIVER CITY COMPANY

850 MARKET ST
CHATTANOOGA,TN37402 		NONE PC MILLER PARK JULY 4TH CELEBRATION 8,500

RIVER CITY COMPANY

850 MARKET ST
CHATTANOOGA,TN37402 		NONE PC DOWNTOWN & WATERFRONT ANIMATION 60,000

SKYUKA HALL

5600 BRAINERD RD A24
CHATTANOOGA,TN37411 		NONE PC STRATEGIC PLANNING 10,000

SOUNDCORPS CHATTANOOGA

301 E 11TH ST SUITE 300
CHATTANOOGA,TN37403 		NONE PC HIP-HOP SUMMIT 20,000

SOUNDCORPS CHATTANOOGA

301 E 11TH ST SUITE 300
CHATTANOOGA,TN37403 		NONE PC NEW YEAR'S EVE CELEBRATION 10,000

SOUTHEAST COMMUNITY CAPITAL CORPORATIONPATHWAY LENDING

110 SOMERVILLE AVENUE SUITE 237
CHATTANOOGA,TN37405 		NONE PC CHATTANOOGA SMALL BUSINESS JOBS OPPORTUNITY FUND 150,000

SPLASH

PO BOX 3617
CHATTANOOGA,TN37404 		NONE PC 2023 ARTS FESTIVAL & PROGRAMMING 10,000

STADIUM CORPORATION

1826 REGGIE WHITE BLVD
CHATTANOOGA,TN37408 		NONE PC CONCERT FLOORING FOR FINLEY STADIUM 10,000

STEP AHEAD FOUNDATION CHATTANOOGA

PO BOX 4212
CHATTANOOGA,TN37405 		NONE PC GENERAL OPERATING SUPPORT 25,000

STOVE WORKS

736 MARKET ST SUITE 1400
CHATTANOOGA,TN37402 		NONE PC GENERAL OPERATING SUPPORT 25,000

TEACH FOR AMERICA INC

25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		NONE PC PARTNERSHIP WITH HAMILTON COUNTY SCHOOLS 75,000

TEACH FOR AMERICA INC

25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		NONE PC MENTORING PROJECT 5,000

TENNESSEE RIVER GORGE TRUST

1214 DARTMOUTH STREET
CHATTANOOGA,TN37405 		NONE PC NEW OFFICE PROJECT ON TN RIVER 5,000

THE BETHLEHEM CENTER

200 W 38TH ST
CHATTANOOGA,TN37410 		NONE PC HOWARD SCHOOL INITIATIVE 20,000

THE CHATTANOOGA GIRLS LEADERSHIP ACADEMY

1802 BAILEY AVE
CHATTANOOGA,TN37404 		NONE PC GENERAL OPERATING SUPPORT 1,000

TIDES FOUNDATION

PO BOX 889389
LOS ANGELES,CA90088 		NONE PC CHATTANOOGA NAACP YOUTH PROGRAM 2,500

TIVOLI THEATRE FOUNDATION INC

709 BROAD STREET
CHATTANOOGA,TN37402 		NONE PC CAPITAL CAMPAIGN 150,000

TN SCORE

1207 18TH AVE SOUTH SUITE 326
NASHVILLE,TN37212 		NONE PC GENERAL OPERATING SUPPORT 200,000

TYNER ACADEMY

6836 TYNER RD
CHATTANOOGA,TN37421 		NONE PC FUTURE READY INSTITUTES 10,000

UNIFIED

1609 MCCALLIE AVENUE
CHATTANOOGA,TN37404 		NONE PC GENERAL OPERATING SUPPORT 125,000

UNIVERSITY OF CHATTANOOGA FOUNDATION INC

201 ALUMNI HOUSE 615 MCCALLIE AVE
CHATTANOOGA,TN37403 		NONE PC AUTONOMOUS VEHICLE & COMMUNICATIONS 40,000

UNIVERSITY OF CHATTANOOGA FOUNDATION INC

201 ALUMNI HOUSE 615 MCCALLIE AVE
CHATTANOOGA,TN37403 		NONE PC SMILE FUND 3,000

URBAN LEAGUE OF CHATTANOOGA

401 EAST MLK BLVD 301
CHATTANOOGA,TN37403 		NONE PC GENERAL OPERATING SUPPORT 250,000

URBAN LEAGUE OF CHATTANOOGA

401 EAST MLK BLVD 301
CHATTANOOGA,TN37403 		NONE PC COACHING & TEAM DEVELOPMENT 10,000

YMCA OF METROPOLITAN CHATTANOOGA

301 W 6TH ST
CHATTANOOGA,TN37402 		NONE PC Y-CAP SUMMER PROGRAMS 7,500

YOUNG WOMENS LEADERSHIP ACADEMY FOUNDATION INC

2528 CHAMBERLAIN AVE
CHATTANOOGA,TN37404 		NONE PC GENERAL OPERATING SUPPORT FOR CGLA & MONTESSORI 200,000
Total .................................right arrow 3a 4,983,175
bApproved for future payment
Total ................................. right arrow 3b 0
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 ....     14 383,528  
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 .....     14 352  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 4,605,727  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INVESTMENT INCOME/LOSSES- LIMITED PARTNERSHIPS 		  -55,696      
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -55,696 4,989,607 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
4,933,911
(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
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 Firm's EIN SmallBullet
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 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 InvestmentsOtherSchedule2
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
LIMITED PARTNERSHIP INTEREST FMV 1,591,266 1,591,266
INVESTMENT FUNDS FMV 96,500,025 96,500,025

TY 2023 OtherAssetsSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
INVESTMENT PROCEEDS RECEIVABLE 5,789,187 3,755,718 3,755,718
NOTE RECEIVABLE 1,621,377 1,567,681 1,567,681
REFUNDABLE FEDERAL EXCISE TAX 0 52,164 52,164


TY 2023 OtherDecreasesSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Amount
FEDERAL EXCISE TAX PROVISION 70,075


TY 2023 OtherExpensesSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OFFICE EXPENSE 55,963 5,596   50,367
INSURANCE 89,753 8,975   80,778
OTHER CHARITABLE DISTRIBUTIONS 165,059 0   165,059
TECHNICAL SUPPORT 20,089 2,009   18,080
TRUSTEE LIABILITY INSURANCE 3,507 3,507   0
OTHER DEDUCTIONS FROM K-1 0 1,303,980   0
INVESTMENT EXPENSES FROM K-1S 0 116,150   0


TY 2023 OtherIncomeSchedule2
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME 352 352 352
OTHER INVESTMENT INCOME/LOSSES- LIMITED PARTNERSHIPS -55,696 0 -55,696


TY 2023 OtherIncreasesSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Amount
NET UNREALIZED LOSS ON INVESTMENTS 3,693,429
UNRELATED BUSINESS INCOME LOSS 55,696


TY 2023 OtherLiabilitiesSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Description Beginning of Year - Book Value End of Year - Book Value
FEDERAL EXCISE TAXES PAYABLE 3,502 0


TY 2023 OtherProfessionalFeesSchedule
Name:
BENWOOD FOUNDATION INC
EIN:
62-0476283
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL FEES 25,170 2,517   22,653