TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
THE MORGAN E CLINE PERPETUAL
CHARITABLE FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)217 N 13TH ST
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CENTERVILLE, IA52544

A Employer identification number

47-7016421

B Telephone number (see instructions)

(641) 437-1025

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$14,480,107J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...		295,774		295,774
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10			-85,462
b	Gross sales price for all assets on line 6a 3,830,842
7	Capital gain net income (from Part IV, line 2)...				0
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances	723,096
b	Less: Cost of goods sold....	266,099
c	Gross profit or (loss) (attach schedule).....			456,997		456,997
11	Other income (attach schedule).......		List of Attached Documents: // Content	613,055	0	613,055
12	Total. Add lines 1 through 11........		1,280,364		295,774	1,070,052
13	Compensation of officers, directors, trustees, etc.		189,000		19,900	0	169,629
14	Other employee salaries and wages......		716,707		0	285,540	429,471
15	Pension plans, employee benefits.......		116,465		440	98,115	18,019
16a	Legal fees (attach schedule).........		List of Attached Documents: // Content	85	0	0	85
b	Accounting fees (attach schedule).......		List of Attached Documents: // Content	55,268	0	33,837	20,578
c	Other professional fees (attach schedule)....		List of Attached Documents: // Content	141,352	63,723	65,160	12,137
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		List of Attached Documents: // Content	27,543	0	27,543	0
19	Depreciation (attach schedule) and depletion...			162,625	0	162,625
20	Occupancy..............		110,635		0	101,358	8,530
21	Travel, conferences, and meetings.......		473		0	473	636
22	Printing and publications..........		1,945		0	1,848	97
23	Other expenses (attach schedule).......		List of Attached Documents: // Content	311,825	0	293,553	25,619
24	Total operating and administrative expenses.
	Add lines 13 through 23..........		1,833,923		84,063	1,070,052	684,801
25	Contributions, gifts, grants paid.......		213,900				213,900
26	Total expenses and disbursements. Add lines 24 and 25		2,047,823		84,063	1,070,052	898,701
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements		-767,459
b	Net investment income (if negative, enter -0-)				211,711
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	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.............	271,157	323,829	323,829
	2	Savings and temporary cash investments.........	527,308	358,652	358,652
	3	Accounts receivable 51,349
		Less: allowance for doubtful accounts	52,633	51,349	51,349
	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) 326,048
		Less: allowance for doubtful accounts 0	333,135	326,048	326,048
	8	Inventories for sale or use..............	19,902	20,594	20,594
	9	Prepaid expenses and deferred charges..........	2,154	2,867	2,867
	10a	Investments—U.S. and state government obligations (attach schedule)	2,111,948	List of Attached Documents: // Content 1,830,692	1,830,692
	b	Investments—corporate stock (attach schedule).......	6,120,568	List of Attached Documents: // Content 6,935,807	6,935,807
	c	Investments—corporate bonds (attach schedule).......	1,758,722	List of Attached Documents: // Content 2,218,711	2,218,711
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis 3,117,141
		Less: accumulated depreciation (attach schedule) 705,583	2,514,505	List of Attached Documents: // Content 2,411,558	2,411,558
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	13,712,032	14,480,107	14,480,107
	17	Accounts payable and accrued expenses..........	124,910	139,550
	18	Grants payable.................
	19	Deferred revenue.................	9,618	9,906
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	List of Attached Documents: // Content 775	List of Attached Documents: // Content 775
	23	Total liabilities (add lines 17 through 22).........	135,303	150,231
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	13,576,729	14,329,876
	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........
	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).....	13,576,729	14,329,876
	30	Total liabilities and net assets/fund balances (see instructions).	13,712,032	14,480,107

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

13,576,729

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

-767,459

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

List of Attached Documents:

// Content

1,520,606

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

14,329,876

Decreases not included in line 2 (itemize) right arrow

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

14,329,876

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	PUBLICLY TRADED SECURITIES
b	CHARITABLE USE VEHICLE	P	2016-01-01	2023-04-25
c	CAPITAL GAINS DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	3,826,221	3,916,304	-90,083
b	3,780		3,780
c	841		841
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			-90,083
b			3,780
c			841
d
e

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	-85,462
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

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	2,943
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	2,943
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	2,943
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	9,297
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	9,297
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	6,354
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax6,354	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

MORGANCLINEFOUNDATION.ORG

The books are in care of right arrow

ALISON FRASER Telephone no. right arrow

(641) 437-1025

Located at right arrow

217 N 13TH STCENTERVILLEIA ZIP+4 right arrow

52544

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

Yes

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

Yes

If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment

List of Attached Documents:

// Content

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
ALISON FRASER	CEO 40.00	149,000	4,400
217 N 13TH ST CENTERVILLE,IA52544	CEO 40.00	149,000	4,400
MICHAEL CRAVER ESQ	CHAIR 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	CHAIR 2.00	5,000	0
FRANK REZNICEK	VICE-CHAIR 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	VICE-CHAIR 2.00	5,000	0
ANN YOUNG	SECRETARY 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	SECRETARY 2.00	5,000	0
THE IOWA TRUST AND SAVINGS BANK	CORPORATE TRUSTEE/TREASURER 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	CORPORATE TRUSTEE/TREASURER 2.00	5,000	0
BILL BUSS	TRUSTEE 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	TRUSTEE 2.00	5,000	0
VANESSA FRASER	TRUSTEE 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	TRUSTEE 2.00	5,000	0
JERRY KIRKPATRICK	TRUSTEE 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	TRUSTEE 2.00	5,000	0
CONNIE STATER	TRUSTEE 2.00	5,000	0
217 N 13TH ST CENTERVILLE,IA52544	TRUSTEE 2.00	5,000	0

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
LINDSEY VARESE	KITCHEN MANAGER 40.00	58,405	2,400	0
217 N 13TH ST CENTERVILLE,IA52544	KITCHEN MANAGER 40.00	58,405	2,400	0
PENNY EXLINE	FRONT DESK MANAGER 40.00	57,850	2,400	0
217 N 13TH ST CENTERVILLE,IA52544	FRONT DESK MANAGER 40.00	57,850	2,400	0
KERRY MORLAN	SENIOR LINE COOK 40.00	56,867	3,191	0
217 N 13TH ST CENTERVILLE,IA52544	SENIOR LINE COOK 40.00	56,867	3,191	0




Total number of other employees paid over $50,000...................				0

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
MARTIN BROTHERS	FOOD AND SUPPLIES FOR RESALE	102,978
406 VIKING ROAD PO BOX 69 CEDAR FALLS,IA50613	FOOD AND SUPPLIES FOR RESALE	102,978
COMMERCIAL RESOURCES INC	HR, PAYROLL, ACCOUNTING SERVICES	85,223
15703 HWY J29 CENTERVILLE,IA52544	HR, PAYROLL, ACCOUNTING SERVICES	85,223
SYSCO IOWA	FOOD AND SUPPLIES FOR RESALE	63,842
ONE SYSCO PLACE ANKEY,IA50021	FOOD AND SUPPLIES FOR RESALE	63,842
PERFORMANCE FOODSERVICE	FOOD AND SUPPLIES FOR RESALE	62,377
4100 44TH AVE SW CEDAR RAPIDS,IA52406	FOOD AND SUPPLIES FOR RESALE	62,377
BANKERS TRUST	INVESTMENT MANAGEMENT SERVICES	50,241
453 7TH STREET DES MOINES,IA50309	INVESTMENT MANAGEMENT SERVICES	50,241

Total number of others receiving over $50,000 for professional services............. right arrow

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	FOSTERING VIABLE AND THRIVING COMMUNITIES IN AND AROUND APPANOOSE COUNTY, IOWA BY COLLABORATING TO PROVIDE RESOURCES AND PROFESSIONAL SUPPORT. OPERATIONS IN 2023 INCLUDED, THE OPERATIONS OF THE CONTINENTAL HOTEL AND THE MAJESTIC THEATER BOTH OF WHICH ARE LOCATED IN APPANOOSE COUNTY, IOWA AND WERE OPERATED AS OUTLINED IN THE WILL OF MORGAN E. CLINE AND THE FORM 1023 APPLICATION.	1,531,789
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)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

10,629,508

Average of monthly cash balances.......................

447,511

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

11,077,019

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,077,019

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

166,155

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

10,910,864

Minimum investment return. Enter 5% (0.05) of line 5................

545,543

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.)

Minimum investment return from Part IX, line 6..................

545,543

Tax on investment income for 2022 from Part V, line 5.......

2,943

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

2,943

Distributable amount before adjustments. Subtract line 2c from line 1............

542,600

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

542,600

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

542,600

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

898,701

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

898,701

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					542,600
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......	164,155
b From 2019......
c From 2020......	97,965
d From 2021......	299,639
e From 2022......	232,362
f Total of lines 3a through e ........		794,121
4Qualifying distributions for 2023 from Part
XI, line 4: $ 898,701
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.....					542,600
e Remaining amount distributed out of corpus		356,101
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		1,150,222
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) ...		164,155
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		986,067
10 Analysis of line 9:
a Excess from 2019....
b Excess from 2020....	97,965
c Excess from 2021....	299,639
d Excess from 2022....	232,362
e Excess from 2023....	356,101

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 4942(j)(3) or4942(j)(5)

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

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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

ALISON FRASER
217 N 13TH ST
CENTERVILLE,IA52544
(641) 437-1025

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

THE MORGAN E. CLINE FOUNDATION FUNDS CHARITABLE PROJECTS IN AND AROUND APPANOOSE COUNTY IN OUR FOUR AREAS OF FOCUS: COMMUNITY AND ECONOMIC DEVELOPMENT, HISTORIC PRESERVATION AND REDEVELOPMENT, SENIORS AND HEALTHCARE, AND CULTURE AND THE ARTS. FUNDING IS AWARDED ANNUALLY, WITH A CALL FOR LETTERS OF INQUIRY GOING OUT TYPICALLY IN AUGUST EACH YEAR.

cAny submission deadlines:

THERE ARE NO SUBMISSION DEADLINES AT THIS TIME.

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

ANY GRANT AWARDED WILL REQUIRE AN ACKNOWLEDGEMENT FROM THE RECIPIENT THAT THE FUNDS WILL BE USED EXCLUSIVELY FOR CHARITABLE PURPOSES. EACH RECIPIENT WILL BE REQUIRED TO SUBMIT PROOF OF 501(C)(3) EXEMPT STATUS. IT IS INTENDED THAT AWARDEE ORGANIZATIONS BE LOCATED IN AND AROUND APPANOOSE COUNTY, IOWA. WE SUPPORT ORGANIZATIONS WITH: 501(C)(3) STATUS THAT ARE ALSO 509(A)(1) OR 509(A)(2) PUBLIC CHARITIES. CHURCHES, HOSPITALS, SCHOOLS, OR GOVERNMENTAL AGENCIES LIKE FIRE DEPARTMENTS OR PUBLIC LIBRARIES UNDERTAKING CHARITABLE ACTIVITIES OR TAX EXEMPT ORGANIZATIONS THAT ARE 509(A)(3) ORGANIZATIONS. AS SPECIAL RULES APPLY TO SOME OF THESE TYPES OF ORGANIZATIONS, IT IS IMPORTANT THAT THEY CONTACT THE FOUNDATION TO LEARN MORE ABOUT THEIR ELIGIBILITY.

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
CENTERVILLE CONCERT ASSOCIATION 119 S 15TH CENTERVILLE,IA52544		PC	GENERAL OPERATING SUPPORT	6,000
CITY OF EXLINE PO BOX 101 EXLINE,IA52555		GOV	CEMETERY MAINTENANCE	1,000
INDIAN HILLS COMMUNITY COLLEGE FOUNDATION 525 GRANDVIEW AVE OTTUMWA,IA52501		SO III FI	CONSTRUCTION OF NEW FACILITY	200,000
REACHING ALL PEOPLE TOGETHER (RAPT) PO BOX 1092 CENTERVILLE,IA52544		PC	GENERAL OPERATING SUPPORT	200
CENTERVILLE GARDEN CLUB 128 N 12TH ST CENTERVILLE,IA52544		PC	GENERAL OPERATING SUPPORT	200
KIDS WORLD 722 N 1ST ST CENTERVILLE,IA52544		PC	PROFESSIONAL PLAYGROUND INSTALLATION	3,500
THE LORD'S CUPBOARD 410 N MAIN ST CENTERVILLE,IA52544		PC	GENERAL OPERATING SUPPORT	3,000
Total ................................. 3a				213,900

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
aNON-INVESTMENT RENTAL INCOME					611,491
bOTHER INCOME					1,564
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	295,774
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	-85,462
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory					456,997
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		210,312	1,070,052

13Total. Add line 12, columns (b), (d), and (e)..................

1,280,364

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
1A-B	NON-DEBT FINANCED RENTAL TO SUPPORT ECONOMICALLY DEPRESSED AREA SERVED
1C	REFUNDS/DISCOUNTS ON PROGRAMMATIC ACTIVITIES
10	INVENTORY SALES TO SUPPORT ECONOMICALLY DEPRESSED AREA SERVED

Form 990-PF (2023)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

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.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	55,268	0	33,837	20,578

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2023 ExpenditureResponsibilityStmt

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee	Date of Verification	Results of Verification
PROMOTING APPANOOSE & CENTERVILLE TOGETHER (PACT)	128 N 12TH ST CENTERVILLE,IA52544	2022-11-04	2,000	CHARITABLE COMMUNITY MARKETING AND OUTREACH	2,000	NONE IDENTIFIED.	12/29/23	2023-12-29

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Name of Bond	End of Year Book Value	End of Year Fair Market Value
AMERICAN AIRLINES 2015-1 CLASS A PASS THROUGH TRUST 3.375% 01 MAY 2027 28763	26,338	26,338
BANK OF NEW YORK MELLON CORP/THE VARIABLE 5.834% 25 OCT 2033 75000 SHS	79,512	79,512
BAT CAPITAL CORP 6.421% 02 AUG 2033 75000 SHS	78,717	78,717
BOSTON PROPERTIES LP 3.25% 30 JAN 2031 75000 SHS	64,444	64,444
BROADCOM INC 2.45% 15 FEB 2031 75000 SHS	64,130	64,130
CAPITAL ONE FINANCIAL CORP VARIABLE 7.624% 30 OCT 2031 75000 SHS	82,417	82,417
CONAGRA BRANDS INC 7.125% 01 OCT 2026 75000 SHS	79,168	79,168
CONOCOPHILLIPS 4.3% 15 AUG 2028 50000 SHS	49,178	49,178
CROWN CASTLE TOWERS LLC 3.663% 15 MAY 2025 50000 SHS	48,511	48,511
FANNIE MAE POOL FN AL7890 3.5% 01 DEC 2045 32824.13 SHS	30,760	30,760
FANNIE MAE POOL FN AL8468 4% 01 APR 2046 27188.3 SHS	26,238	26,238
FANNIE MAE POOL FN AS5378 4% 01 JUL 2045 21222.48 SHS	20,460	20,460
FANNIE MAE POOL FN AS6815 3% 01 MAR 2046 16856.63 SHS	15,384	15,384
FANNIE MAE POOL FN AS9339 3.5% 01 MAR 2032 21780.12 SHS	21,194	21,194
FANNIE MAE POOL FN AV0703 4% 01 DEC 2043 15738.71 SHS	15,298	15,298
FANNIE MAE POOL FN CA1545 4% 01 APR 2048 21103.37 SHS	20,325	20,325
FANNIE MAE POOL FN MA1770 4.5% 01 FEB 2044 18312.02 SHS	18,175	18,175
FANNIE MAE POOL FN MA4978 5% 01 APR 2053 475777.53 SHS	470,691	470,691
FEDERAL NATIONAL MORTGAGE ASSOCIATION 6.25% 15 MAY 2029 40000 SHS	44,380	44,380
FLOWERS FOODS INC 3.5% 01 OCT 2026 50000 SHS	47,968	47,968
FREDDIE MAC GOLD POOL FG G08737 3% 01 DEC 2046 34446.47 SHS	31,278	31,278
FREDDIE MAC GOLD POOL FG G18557 3% 01 JUN 2030 8634.71 SHS	8,311	8,311
FREDDIE MAC GOLD POOL FG Q04674 4% 01 DEC 2041 20537.68 SHS	19,872	19,872
GINNIE MAE II POOL G2 MA1285 3.5% 20 SEP 2043 24642.86 SHS	23,424	23,424
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-29 CY 3%20 150000 SHS	121,412	121,412
HESS CORP 3.5% 15 JUL 2024 50000 SHS	49,404	49,404
INDIANAPOLIS POWER & LIGHT CO 4.05% 01 MAY 2046 50000 SHS	41,130	41,130
INTERSTATE POWER AND LIGHT CO 3.25% 01 DEC 2024 50000 SHS	48,960	48,960
JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2015-C28 JPMBB 100000 SHS	96,353	96,353
JPMORGAN CHASE & CO VARIABLE 5.35% 01 JUN 2034 75000 SHS	76,067	76,067
MORGAN STANLEY VARIABLE 5.948% 19 JAN 2038 50000 SHS	50,565	50,565
NNN REIT INC 5.6% 15 OCT 2033 75000 SHS	77,578	77,578
NORFOLK SOUTHERN CORP 3.15% 01 JUN 2027 50000 SHS	47,797	47,797
ORACLE CORP 6.9% 09 NOV 2052 75000 SHS	88,059	88,059
PROVINCE OF QUEBEC CANADA 6.35% 30 JAN 2026 25000 SHS	25,722	25,722
SIXTH STREET SPECIALTY LENDING INC 6.95% 14 AUG 2028 75000 SHS	77,324	77,324
UNITED AIRLINES 2013-1 CLASS A PASS THROUGH TRUST 4.3% 15 AUG20 5 33,195.09	32,167	32,167

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Name of Stock	End of Year Book Value	End of Year Fair Market Value
AP MOLLER - MAERSK A/S 1566 SHS	13,967	13,967
ASHTEAD GROUP PLC 117 SHS	33,257	33,257
ASML HOLDING NV 40 SHS	30,277	30,277
ASTELLAS PHARMA INC 2132 SHS	25,371	25,371
AXA SA 1385 SHS	45,269	45,269
BAE SYSTEMS PLC 422 SHS	24,399	24,399
BNP PARIBAS SA 890 SHS	30,919	30,919
CANADIAN PACIFIC KANSAS CITY LTD 187 SHS	14,784	14,784
CAPGEMINI SE 626 SHS	26,198	26,198
CHECK POINT SOFTWARE TECHNOLOGIES LTD 125 SHS	19,099	19,099
CIE DE SAINT-GOBAIN SA 2690 SHS	39,678	39,678
COMPASS GROUP PLC 940 SHS	26,141	26,141
DAIWA HOUSE INDUSTRY CO LTD 633 SHS	19,085	19,085
DEUTSCHE POST AG 621 SHS	30,769	30,769
ENEL SPA 3537 SHS	26,156	26,156
ENGIE SA 1077 SHS	18,939	18,939
ESSILORLUXOTTICA SA 229 SHS	23,012	23,012
FORTESCUE LTD 895 SHS	35,120	35,120
GOLDMAN SACHS EMERGING MARKETS EQUITY INSIGHTS FUND 8019.633 SHS	65,039	65,039
HITACHI LTD 194 SHS	28,047	28,047
HOLCIM AG 2729 SHS	42,683	42,683
HONDA MOTOR CO LTD 857 SHS	26,490	26,490
IBERDROLA SA 403 SHS	21,158	21,158
JANUS HENDERSON GROUP PLC 543 SHS	16,371	16,371
JULIUS BAER GROUP LTD 1782 SHS	19,896	19,896
KONINKLIJKE AHOLD DELHAIZE NV 1234 SHS	35,416	35,416
LVMH MOET HENNESSY LOUIS VUITTON SE 163 SHS	26,479	26,479
MACQUARIE GROUP LTD 276 SHS	34,470	34,470
MAGNA INTERNATIONAL INC 427 SHS	25,227	25,227
MITSUBISHI UFJ FINANCIAL GROUP INC 2276 SHS	19,596	19,596
NESTLE SA 316 SHS	36,539	36,539
NICE SYSTEMS LTD 81 SHS	16,160	16,160
NIPPON TELEGRAPH & TELEPHONE CORP 1023 SHS	31,166	31,166
NN GROUP NV 774 SHS	15,279	15,279
NOVARTIS AG 272 SHS	27,464	27,464
NOVO NORDISK A/S 361 SHS	37,345	37,345
ORIX CORP 350 SHS	32,687	32,687
PANASONIC HOLDINGS CORP 1195 SHS	11,759	11,759
RIO TINTO PLC 553 SHS	41,176	41,176
SCHNEIDER ELECTRIC SE 657 SHS	26,431	26,431
SEKISUI HOUSE LTD 1098 SHS	24,365	24,365
SHELL PLC 429 SHS	28,228	28,228
SOFTBANK GROUP CORP 963 SHS	21,205	21,205
SONY GROUP CORP 302 SHS	28,596	28,596
SUMITOMO MITSUI FINANCIAL GROUP INC 4309 SHS	41,711	41,711
TOTALENERGIES SE 710 SHS	47,840	47,840
UBS GROUP AG 882 SHS	27,254	27,254
UNILEVER PLC 786 SHS	38,105	38,105
VOLKSWAGEN AG 1109 SHS	14,395	14,395
VOLVO AB 1240 SHS	32,172	32,172
ABBVIE INC 429 SHS	66,482	66,482
ADOBE SYSTEMS INC 149 SHS	88,893	88,893
ALLSTATE CORP/THE 347 SHS	48,573	48,573
ALPHABET INC 1342 SHS	187,464	187,464
AMAZON.COM INC 1005 SHS	152,700	152,700
AMERICAN TOWER CORP 89 SHS	19,213	19,213
ANI PHARMACEUTICALS INC 108 SHS	5,955	5,955
APPLE INC 1970 SHS	379,284	379,284
ASBURY AUTOMOTIVE GROUP INC 14 SHS	3,150	3,150
AXCELIS TECHNOLOGIES INC 386 SHS	50,060	50,060
BANK OZK 216 SHS	10,763	10,763
BEL FUSE INC 79 SHS	5,275	5,275
BJ'S WHOLESALE CLUB HOLDINGS INC 108 SHS	7,199	7,199
BLACKROCK INC 75 SHS	60,885	60,885
BLUELINX HOLDINGS INC 49 SHS	5,552	5,552
BROADCOM INC 126 SHS	140,648	140,648
BRT APARTMENTS CORP 273 SHS	5,075	5,075
CACI INTERNATIONAL INC 20 SHS	6,477	6,477
CATALYST PHARMACEUTICALS INC 345 SHS	5,799	5,799
CHEMED CORP 11 SHS	6,432	6,432
CHEVRON CORP 690 SHS	102,920	102,920
CISCO SYSTEMS INC 1077 SHS	54,410	54,410
CLEARWATER PAPER CORP 93 SHS	3,359	3,359
COGENT COMMUNICATIONS HOLDINGS INC 74 SHS	5,628	5,628
COMCAST CORP 1957 SHS	85,814	85,814
COMFORT SYSTEMS USA INC 40 SHS	8,227	8,227
COMMUNITY TRUST BANCORP INC 114 SHS	5,000	5,000
CONTRA LIGAND PHARMACEUTICALS INC 16.306 SHS	12	12
CONTRA LIGAND PHARMACEUTICALS INC 16.306 SHS	12	12
CVR ENERGY INC 260 SHS	7,878	7,878
CVS HEALTH CORP 1149 SHS	90,725	90,725
DANAHER CORP 303 SHS	70,096	70,096
DEERE & CO 214 SHS	85,572	85,572
DOUGLAS DYNAMICS INC 131 SHS	3,888	3,888
EAGLE MATERIALS INC 27 SHS	5,477	5,477
EMCOR GROUP INC 44 SHS	9,479	9,479
EMPLOYERS HOLDINGS INC 166 SHS	6,540	6,540
EPR PROPERTIES 98 SHS	4,748	4,748
EQUINIX INC 18 SHS	14,497	14,497
EXPERIAN PLC 586 SHS	23,874	23,874
FEDEX CORP 274 SHS	69,314	69,314
FISERV INC 507 SHS	67,350	67,350
FORESTAR GROUP INC 108 SHS	3,572	3,572
GENERAL MOTORS CO 1218 SHS	43,751	43,751
GRAND CANYON EDUCATION INC 41 SHS	5,414	5,414
HANCOCK WHITNEY CORP 132 SHS	6,414	6,414
HEALTHEQUITY INC 87 SHS	5,768	5,768
H&E EQUIPMENT SERVICES INC 180 SHS	9,418	9,418
HOME BANCSHARES INC/AR 226 SHS	5,725	5,725
INTERCONTINENTAL EXCHANGE INC 534 SHS	68,582	68,582
INTUIT INC 110 SHS	68,753	68,753
JOHNSON & JOHNSON 612 SHS	95,925	95,925
JPMORGAN CHASE & CO 735 SHS	125,024	125,024
L3HARRIS TECHNOLOGIES INC 335 SHS	70,558	70,558
LAM RESEARCH CORP 154 SHS	120,622	120,622
LANTHEUS HOLDINGS INC 125 SHS	7,750	7,750
LGI HOMES INC 47 SHS	6,259	6,259
LIGAND PHARMACEUTICALS INC 75 SHS	5,357	5,357
LITHIA MOTORS INC 16 SHS	5,268	5,268
LOWE'S COS INC 256 SHS	56,973	56,973
MARATHON PETROLEUM CORP 429 SHS	63,646	63,646
MARRIOTT INTERNATIONAL INC/MD 318 SHS	71,712	71,712
MASTERCARD INC 239 SHS	101,936	101,936
MERCK & CO INC 732 SHS	79,803	79,803
META PLATFORMS INC 220 SHS	77,871	77,871
MICROSOFT CORP 808 SHS	303,840	303,840
MORGAN STANLEY 874 SHS	81,501	81,501
MUELLER INDUSTRIES INC 227 SHS	10,703	10,703
NEUROCRINE BIOSCIENCES INC 479 SHS	63,113	63,113
NEXSTAR MEDIA GROUP INC 23 SHS	3,605	3,605
NEXTERA ENERGY INC 884 SHS	53,694	53,694
NIKE INC 447 SHS	48,531	48,531
NORFOLK SOUTHERN CORP 341 SHS	80,606	80,606
NUTANIX INC 117 SHS	5,580	5,580
NVIDIA CORP 189 SHS	93,597	93,597
O'REILLY AUTOMOTIVE INC 85 SHS	80,757	80,757
OTIS WORLDWIDE CORP 779 SHS	69,697	69,697
OXFORD INDUSTRIES INC 48 SHS	4,800	4,800
PATRICK INDUSTRIES INC 56 SHS	5,620	5,620
PEPSICO INC 461 SHS	78,296	78,296
PERFORMANCE FOOD GROUP CO 91 SHS	6,293	6,293
PHOTRONICS INC 165 SHS	5,176	5,176
PINNACLE FINANCIAL PARTNERS INC 89 SHS	7,763	7,763
PIONEER NATURAL RESOURCES CO 188 SHS	42,277	42,277
PRIMERICA INC 38 SHS	7,819	7,819
PROCTER & GAMBLE CO/THE 457 SHS	66,969	66,969
PROGRESS SOFTWARE CORP 113 SHS	6,136	6,136
PROLOGIS INC 781 SHS	104,107	104,107
PULTEGROUP INC 652 SHS	67,299	67,299
QUIDELORTHO CORPORATION COM 67 SHS	4,938	4,938
REGIONS FINANCIAL CORP 2704 SHS	52,404	52,404
RLJ LODGING TRUST 438 SHS	5,133	5,133
ROCHE HOLDING AG 1054 SHS	38,186	38,186
SANOFI SA 503 SHS	25,014	25,014
SOUTHWEST GAS HOLDINGS INC 51 SHS	3,231	3,231
S&P GLOBAL INC 158 SHS	69,602	69,602
SPIRE INC 48 SHS	2,992	2,992
SPROUT SOCIAL INC 64 SHS	3,932	3,932
STEEL DYNAMICS INC 697 SHS	82,316	82,316
STONEX GROUP INC 82.5 SHS	6,091	6,091
SUPER MICRO COMPUTER INC 18 SHS	5,117	5,117
TAYLOR MORRISON HOME CORP 103 SHS	5,495	5,495
TD SYNNEX CORP 32 SHS	3,444	3,444
TELEDYNE TECHNOLOGIES INC 144 SHS	64,266	64,266
TERADATA CORP 143 SHS	6,222	6,222
TESLA INC 156 SHS	38,763	38,763
THERMO FISHER SCIENTIFIC INC 142 SHS	75,372	75,372
TJX COS INC/THE 623 SHS	58,444	58,444
T-MOBILE US INC 348 SHS	55,795	55,795
UNITEDHEALTH GROUP INC 172 SHS	90,553	90,553
UNUM GROUP 95 SHS	4,296	4,296
VEECO INSTRUMENTS INC 167 SHS	5,182	5,182
VIPER ENERGY INC COM USD0.000001 CL A 228 SHS	7,155	7,155
WABASH NATIONAL CORP 213 SHS	5,457	5,457
WALMART INC 548 SHS	86,392	86,392
WALT DISNEY CO/THE 615 SHS	55,528	55,528
WARRIOR MET COAL INC 157 SHS	9,572	9,572
WELLS FARGO & CO 1789 SHS	88,055	88,055
WILLIAMS-SONOMA INC 22 SHS	4,439	4,439
WINGSTOP INC 16 SHS	4,105	4,105
XCEL ENERGY INC 1063 SHS	65,810	65,810
ZOETIS INC 480 SHS	94,738	94,738

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

US Government Securities - End of Year Book Value:

1,830,692

US Government Securities - End of Year Fair Market Value:

1,830,692

State & Local Government Securities - End of Year Book Value:

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

- TIN:

TY 2023 LandEtcSchedule2

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
LAND	37,424	0	37,424	37,424
BUILDING	1,132,226	209,935	922,291	922,291
IMPROVEMENTS	1,620,079	307,298	1,312,781	1,312,781
FURNITURE AND FIXTURES	161,389	95,144	66,245	66,245
EQUIPMENT	166,023	93,206	72,817	72,817

- TIN:

TY 2023 LegalFeesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
LEGAL FEES	85	0	0	85

- TIN:

TY 2023 OtherExpensesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Description	Revenue and Expenses per Books	Adjusted Net Income	Disbursements for Charitable Purposes
ADVERTISING	21,246	21,215	98
EQUIPMENT LEASE AND MAINTENANCE	71,142	71,142	0
INSURANCE	65,727	55,178	10,549
LICENSES & PERMITS	4,102	4,102	0
MEMBERSHIP DUES AND SUBSCRIPTIONS	35,532	30,579	5,109
SUPPLIES	53,606	52,545	840
CREDIT CARD FEES	53,252	52,635	617
OTHER EXPENSES	7,218	6,157	8,406

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
NON-INVESTMENT RENTAL INCOME	611,491		611,491
OTHER INCOME	1,564		1,564

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Description	Amount
UNREALIZED GAIN ON INVESTMENTS	1,520,606

- TIN:

TY 2023 OtherLiabilitiesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Description	Beginning of Year - Book Value	End of Year - Book Value
TENANT DEPOSITS PAYABLE	775	775

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT FEES	63,636	63,636	0	0
BANK FEES	91	87	4	0
HUMAN RESOURCE SERVICES	34,221	0	27,328	7,478
OTHER PROFESSIONAL SERVICES	43,404	0	37,828	4,659

- TIN:

TY 2023 TaxesSchedule

Name:

THE MORGAN E CLINE PERPETUAL

CHARITABLE FOUNDATION

EIN:

47-7016421

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
REAL ESTATE TAXES	27,543	0	27,543	0