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
LAUGHING GULL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)505 S DUKE ST STE 301
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DURHAM, NC277013259
A Employer identification number

36-4749289
B Telephone number (see instructions)

(615) 419-3677
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$70,384,785J 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 488,355 483,318  
4 Dividends and interest from securities... 1,209,482 1,209,482  
5a Gross rents............ 10,632 10,632  
b Net rental income or (loss) 10,632
6a Net gain or (loss) from sale of assets not on line 10 1,402,298
b Gross sales price for all assets on line 6a 25,561,476
7 Capital gain net income (from Part IV, line 2)... 1,402,298
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
21,524 10,518  
12 Total. Add lines 1 through 11........ 3,132,291 3,116,248  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
14 Other employee salaries and wages...... 467,607     178,693
15 Pension plans, employee benefits....... 93,854     7,992
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
7,275      
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
657,933 310,916   181,341
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
75,074 37,176    
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
23,654    
20 Occupancy.............. 73,924      
21 Travel, conferences, and meetings....... 68,238     23,883
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
58,091 3,540   8,990
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,525,650 351,632   400,899
25 Contributions, gifts, grants paid....... 5,979,331 5,979,331
26 Total expenses and disbursements. Add lines 24 and 25 7,504,981 351,632   6,380,230
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -4,372,690
b Net investment income (if negative, enter -0-) 2,764,616
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.............      
2 Savings and temporary cash investments......... 3,010,004 2,747,510 2,747,510
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 arrow1,100,000
Less: allowance for doubtful accounts right arrow   1,300,000 Click to see attachment
List of Attached Documents:
// Content
1,100,000 		1,100,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 39,218,906 Click to see attachment
List of Attached Documents:
// Content
35,626,968 		45,227,779
c Investments—corporate bonds (attach schedule)....... 17,542,544 Click to see attachment
List of Attached Documents:
// Content
16,984,816 		16,638,529
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).......... 2,505,415 Click to see attachment
List of Attached Documents:
// Content
2,500,792 		4,593,137
14 Land, buildings, and equipment: basis right arrow280,118
Less: accumulated depreciation (attach schedule) right arrow114,786 188,986 Click to see attachment
List of Attached Documents:
// Content
165,332 		 
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
115,728 		Click to see attachment
List of Attached Documents:
// Content
77,830 		Click to see attachment
List of Attached Documents:
// Content
77,830
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 63,881,583 59,203,248 70,384,785
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22).........   0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 63,881,583 59,203,248
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)..... 63,881,583 59,203,248
30 Total liabilities and net assets/fund balances (see instructions). 63,881,583 59,203,248
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
63,881,583
2
Enter amount from Part I, line 27a .....................
2
-4,372,690
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
59,508,893
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
305,645
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
59,203,248
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 PUBLICLY TRADED SECURITIES P    
b PUBLICLY TRADED SECURITIES P    
c PUBLICLY TRADED SECURITIES P    
d PUBLICLY TRADED SECURITIES P    
e PUBLICLY TRADED SECURITIES P    
PUBLICLY TRADED SECURITIES P    
FROM PASSTHROUGH ENTITIES P    
FROM PASSTHROUGH ENTITIES P    
(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 997,326   1,039,115 -41,789
b 5,356,966   4,644,402 712,564
c 73     73
d 1,840,683   1,608,446 232,237
e 16,838,229   16,310,212 528,017
527,429   500,889 26,540
    56,114 -56,114
91     91
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       -41,789
b       712,564
c       73
d       232,237
e       528,017
      26,540
      -56,114
      91
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 1,402,298
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 3 190,539
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 38,428
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  
3 Add lines 1 and 2........................... 3 38,428
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 38,428
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 115,728
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 115,728
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8  
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 77,300
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow77,300 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
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 arrowNC
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowJAMIE NICHOLSON Telephone no.right arrow (615) 419-3677

Located atright arrow505 S DUKE ST STE 301DURHAMNC ZIP+4right arrow277013259
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
 
 
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
MARJORIE OWEN BAESMITH PRESIDENT
15.00 		0 0 0
505 S DUKE ST STE 301
DURHAM,NC27701
EMILY COWARD SECRETARY
5.00 		0 0 0
505 S DUKE ST STE 301
DURHAM,NC27701
MARJORIE WILLIAMS COWARD CHAIR
5.00 		0 0 0
505 S DUKE ST STE 301
DURHAM,NC27701
SARAH SCHWARTZ BAESMITH TREASURER
5.00 		0 0 0
505 S DUKE ST STE 301
DURHAM,NC27701
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
LATONYA N PENNY EXECUTIVE DI
40.00 		192,600 8,437  
505 S DUKE ST STE 301
DURHAM,NC277013259
HILARY RAU PROGRAM OFFI
40.00 		129,236 843  
505 S DUKE ST STE 301
DURHAM,NC27701
KAREN A CARLTON COORDINATOR
40.00 		76,966 3,848  
505 S DUKE ST STE 301
DURHAM,NC27701
Total number of other employees paid over $50,000...................right arrow  
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 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  
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 N/A  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
59,163,647
b
Average of monthly cash balances.......................
1b
3,844,811
c
Fair market value of all other assets (see instructions)................
1c
5,791,023
d
Total (add lines 1a, b, and c).........................
1d
68,799,481
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
68,799,481
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,031,992
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
67,767,489
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,388,374
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
3,388,374
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
38,428
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
38,428
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,349,946
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
3,349,946
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
3,349,946
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
6,380,230
b
Program-related investments—total from Part VIII-B..................
1b
 
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
6,380,230
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 3,349,946
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 2,128,469
b From 2019...... 2,372,620
c From 2020...... 3,016,682
d From 2021...... 3,226,340
e From 2022...... 2,587,891
f Total of lines 3a through e ........ 13,332,002
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 6,380,230
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 3,349,946
e Remaining amount distributed out of corpus 3,030,284
5 Excess distributions carryover applied to 2023.    
(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 16,362,286
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
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...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
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) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		2,128,469
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		14,233,817
10 Analysis of line 9:
a Excess from 2019.... 2,372,620
b Excess from 2020.... 3,016,682
c Excess from 2021.... 3,226,340
d Excess from 2022.... 2,587,891
e Excess from 2023.... 3,030,284
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 email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

ACLU FOUNDATION OF NC

PO BOX 28004
RALEIGH,NC27611 		NONE PC RACIAL EQUITY WORK 10,000

ACLU FOUNDATION OF NC

PO BOX 28004
RALEIGH,NC27611 		NONE PC LGBTQ GOALS 75,000

ALABAMA PRISON ARTS EDUCATION
PROJECT
1061 BEARD-EAVES MEMORIAL
COLISEUM
AUBURN,AL36849 		NONE PC NCHEP 1,800

ALLIANCE FOR HIGHER ED IN PRISON

1801 N BROADWAY
SUITE 417
DENVER,CO80202 		NONE PC GENERAL OPERATING SUPPORT 80,000

APPALACHIAN VOICES

589 W KING ST
BOONE,NC28607 		NONE PC GENERAL OPERATING SUPPORT 100,000

ASHEVILLE-BUNCOMBE TECHNICAL
COMMUNITY COLLEGE FUND
340 VICTORIA RD
ASHEVILLE,NC28801 		NONE PC PLANNING FOR HEP PROGRAM 61,800

AUBURN UNIVERSITY FOUNDATION

221 DUDLEY HALL
AUBURN,AL36849 		NONE PC ALABAMA PRISON ARTS & ED PROJECT 70,000

BLACK FAMILY LAND TRUST

5800 FARINGDON PL
RALEIGH,NC27609 		NONE PC GENERAL OPERATING SUPPORT 50,000

BOREALIS PHILANTHROPY

PO BOX 3295
MINNEAPOLIS,MN55403 		NONE PC TRANS GENERATIONS 75,000

BUILDING EQUITY & ALIGN FOR ENV JUS

23564 CALABASAS RD
SUITE 201
CALABASAS,CA91302 		NONE PC GRANTMAKING TO EJ GRASSROOTS GROUPS 150,000

CAMPAIGN FOR SOUTHERN EQUALITY

PO BOX 364
ASHEVILLE,NC28802 		NONE PC SC UNITED FOR EQUITY & JUSTICE 45,000

CAMPAIGN FOR SOUTHERN EQUALITY

PO BOX 364
ASHEVILLE,NC28802 		NONE PC GENERAL OPERATING SUPPORT 125,000

CAMPAIGN FOR SOUTHERN EQUALITY

PO BOX 365
ASHEVILLE,NC28802 		NONE PC SOUTHERN EQUALITY FUND 50,000

CAROLINAS CARE PARTNERSHIP

5855 EXECUTIVE CENTER DR
SUITE 200
CHARLOTTE,NC28212 		NONE PC GENERAL OPERATING SUPPORT 25,000

CENTER FOR HEIRS' PROP PRESERVATIO

8570 RIVERS AVE
SUITE 170
NORTH CAROLINA,SC29406 		NONE PC GENERAL OPERATING SUPPORT 100,000

CENTER FOR JUSTICE AT COLUMBIA UNIV

1190 AMSTERDAM AVE
NEW YORK,NY10027 		NONE PC NATIONAL EXECUTIVE COUNCIL 50,000

CITY DIBS

2545 MADISON AVE
BALTIMORE,MD21217 		NONE PC BLACK SOVEREIGNTY FUND FELLOWSHIP 50,000

CLAFLIN UNIVERSITY

400 MAGNOLIA ST
ORANGEBURG,SC29115 		NONE PC 2023 NCHEP 1,800

CLAFLIN UNIVERSITY

400 MAGNOLIA ST
ORANGEBURG,SC29115 		NONE PC PATHWAYS FROM PRISON 65,000

CLIMATE ADVOCACY LAB

PO BOX 65826
WASHINGTON,DC20035 		NONE PC CLIMATE JUSTICE MICROGRANTS 50,000

COLLEGE AND COMMUNITY FELLOWSHIP

475 RIVERSIDE DR 1626
NEW YORK,NY10115 		NONE PC PELL RESTORATION ADVOCACY 60,000

COMFREY FILMS

123 DEMO ST
NEW YORK,NY12345 		NONE PC GENERAL OPERATING SUPPORT 25,000

COMMON GOOD ATLANTA

255 MATTHEWS AVE NE
ATLANTA,GA30307 		NONE PC GENERAL OPERATING SUPPORT 50,000

EL CENTRO HISPANO

2000 CHAPEL HILL ROAD
SUITE 26A
DURHAM,NC27707 		NONE PC LGBTQ PROGRAM SUPPORT 53,000

EQUALITY FEDERATION INSTITUTE

567 SUTTER ST 3RD FLOOR
SAN FRANCISCO,CA94102 		NONE PC GENERAL OPERATING SUPPORT 30,000

EQUALITY OF NC

PO BOX 28768
RALEIGH,NC27611 		NONE PC GENERAL OPERATING SUPPORT 145,000

EQUALITY OF NC

PO BOX 28768
RALEIGH,NC27611 		NONE PC LEADERSHIP TRANSITION/COACHING 5,000

EQUALITY VIRGINIA

403 N ROBINSON ST
RICHMOND,VA23220 		NONE PC GENERAL OPERATING SUPPORT 125,000

FEDERATION OF SOUTHERN COOPERATIVES
LAND ASSISTANCE FUND
2769 CHURCH ST
ATLANTA,GA30344 		NONE PC GENERAL OPERATING SUPPORT 75,000

FLORIDA PRISON EDUCATION PROJECT

12400 AQUARIUS AGORA DR
ORLANDO,FL32816 		NONE PC 2023 NCHEP 1,800

FLORIDA PRISON EDUCATION PROJECT

12400 AQUARIUS AGORA DR
ORLANDO,FL32816 		NONE PC PROGRAM SUPPORT 80,000

FLORIDA PRISON EDUCATION PROJECT

12400 AQUARIUS AGORA DR
ORLANDO,FL32816 		NONE PC BOARD DEVELOPMENT 8,000

FORMERLY INCARCERATED COLLEGE
GRADUATES NETWORK
600 PARK OFFICES DR
STE 300 54
DURHAM,NC27709 		NONE PC PROJECT SUPPORT 50,000

FREEDOM CENTER FOR SOCIAL JUSTICE

4921 ALBEMARLE RD
SUITE 201
CHARLOTTE,NC28205 		NONE PC BOARD EXPANSION & AUDIT 5,000

FREEDOM CENTER FOR SOCIAL JUSTICE

4921 ALBEMARLE RD
SUITE 201
CHARLOTTE,NC28205 		NONE PC GENERAL OPERATING SUPPORT 100,000

FUNDERS FOR LGBTQ ISSUES

45 W 36TH ST 8TH FLOOR
NEW YORK,NY10018 		NONE PC OITS INITIATIVE AND OITS FUND 125,000

GEORGIA COALITION FOR HIGHED ED

50 HURT PLAZA
SUITE 350
ATLANTA,GA30303 		NONE PC GENERAL OPERATING SUPPORT 70,000

GEORGIA COALITION FOR HIGHED ED

50 HURT PLAZA
SUITE 350
ATLANTA,GA30303 		NONE PC 2023 NCHEP 1,100

GEORGIA CONSERVATION VOTERS ED FUND

725 PONCE DE LEON AVE
FLOOR 2
ATLANTA,GA30306 		NONE PC DEMOCRACY FOR ALL/ENERGY FOR ALL PRO 75,000

GEORGIA ST UNIVERSITY PRISON EDU

PO BOX 2668
ATLANTA,GA30301 		NONE PC GSU PRISON EDUCATION PROGRAM 70,000

GEORGIA ST UNIVERSITY PRISON EDU

PO BOX 2668
ATLANTA,GA30301 		NONE PC LEADERSHIP DEVELOPMENT 7,500

GEORGIA ST UNIVERSITY PRISON EDU

PO BOX 2668
ATLANTA,GA30301 		NONE PC 2023 NCHEP 1,040

GRIFFIN-GRACY EDUCATION RETREAT
AND HISTORICAL CENTER
PO BOX 26165
LITTLE ROCK,AR72221 		NONE PC GENERAL OPERATING SUPPORT 5,000

GULLAH GEECHEE CULTURAL HERITAGE

PO BOX 787
BEAUFORT,SC29901 		NONE PC GENERAL OPERATING SUPPORT 50,000

HEALTH AND ENVIRONMENTAL FUNDERS
NETWORK
817 SILVER SPRING AVE
SILVER SPRING,MD20910 		NONE PC STIPENDS FOR HEFN CONFERENCE PRACTIT 2,000

HEALTH BRIGADE

1010 N THOMPSON ST
RICHMOND,VA23230 		NONE PC GENERAL OPERATING SUPPORT 40,000

HORIZONS FOUNDATION

550 MONTGOMERY ST
SUITE 700
SAN FRANCISCO,CA94111 		NONE PC SOUTHERN LEADERBOARD - GIVE OUT DA 20,000

INSTITUTE FOR MARKET TRANSFORMATION

1828 L ST NW
WASHINGTON,DC20036 		NONE PC SUPPORT FOR LA PUBLIC SERVICE COMMIS 23,000

JAMII SISTERHOOD

302 MAYFLOWER DR
LAURENS,SC29360 		NONE PC PROJECT FREEDOM 60,000

JUSTICE40 ACCELERATOR

4096 PIEDMONT AVE 728
OAKLAND,CA94611 		NONE PC PROJECT SUPPORT FOR JUSTICE40 ACCELE 150,000

LAND LOSS PREVENTION PROJECT

401 N MANGUM STREET
2ND FLOOR
DURHAM,NC27701 		NONE PC GENERAL OPERATING SUPPORT 50,000

LGBT CENTER OF RALEIGH

324 S HARRINGTON ST
RALEIGH,NC27603 		NONE PC GENERAL OPERATING SUPPORT 55,000

LGBTQ CENTER OF DURHAM

114 HUNT STREET
DURHAM,NC27701 		NONE PC GENERAL OPERATING SUPPORT 77,500

LIFE UNIVERSITY

1969 BARCLAY CIRCLE
MARIETTA,GA30060 		NONE PC 2023 NCHEP 1,632

LIFE UNIVERSITY

1969 BARCLAY CIRCLE
MARIETTA,GA30060 		NONE PC PROGRAM SUPPORT FOR CHILON PROJ 70,000

LYNCHBURG CITY SCHOOLS EDUCATION
FOUNDATION
915 COURT ST
LYNCHBURG,VA24504 		NONE PC SUPPORT FOR EG GLASS HIGH GSA 1,000

MDC INC

307 W MAIN ST
DURHAM,NC27701 		NONE PC GULLAH GEECHEE FUNDERS GROUP RAPID R 5,000

MIAMI DADE COLLEGE

11 ISLAND AVE
SUITE 1008
MIAMI BEACH,FL33139 		NONE PC PROGRAM SUPPORT FOR IEE 60,000

NATIONAL LGBTQ TASK FORCE

1050 CONNECTICUT AVE NW
SUITE 65500
WASHINGTON,DC20035 		NONE PC CREATING CHANGE CONFERENCE 50,000

NATIONZ FOUNDATION

4794 FINLAY ST
SUITE 1
RICHMOND,VA23231 		NONE PC GENERAL OPERATING SUPPORT 75,000

NATIONZ FOUNDATION

4794 FINLAY ST
SUITE 1
RICHMOND,VA23231 		NONE PC BOARD DEVELOPMENT & EFFECTIVENESS 5,000

NC CLIMATE JUSTICE COLLECTIVE

PO BOX 61051
DURHAM,NC27715 		NONE PC GENREAL OPERATING SUPPORT FOR NCJC 50,000

NC PRISON EDUCATION COLLABORATIVE

1 UNIVERSITY HEIGHTS
ASHEVILLE,NC28804 		NONE PC NC PRISON EDUCATION CONSORTIUM 40,000

NC PRISON EDUCATION COLLABORATIVE

1 UNIVERSITY HEIGHTS
ASHEVILLE,NC28804 		NONE PC STRATEGIC PLANNING 6,000

NEIGHBORHOOD FUNDERS GROUP

548 MARKET ST 96531
SAN FRANCISCO,CA94104 		NONE PC AMPLIFY FUND 150,000

NEW VIRGINIA MAJORITY ED FUND

3801 MT VERNON AVE
ALEXANDRIA,VA22305 		NONE PC GENREAL OPERATING SUPPORT 75,000

NORTH CAROLINA ENVIRONMENTAL
JUSTICE NETWORK
3434 EDWARDS MILL RD
SUITE 112-378
RALEIGH,NC27612 		NONE PC GENERAL OPERATING SUPPORT 50,000

OFFENDER ALUMNI ASSOCIATION

1000 24TH ST S
BIRMINGHAM,AL35205 		NONE PC GENERAL OPERATING SUPPORT 50,000

OPERATION RESTORATION

PO BOX 56894
NEW ORLEANS,LA70156 		NONE PC GENERAL OPERATING SUPPORT 100,000

OUTMEMPHIS

892 COOPER ST
MEMPHIS,TN38104 		NONE PC RAPID RESPONSE GRANT 5,500

OUTRIGHT YOUTH OF CATAWBA VALLEY
INC
PO BOX 2222
HICKORY,NC28603 		NONE PC GENERAL OPERATING SUPPORT 25,000

PARTNERSHIP FOR SOUTHERN EQUITY

55 IVAN ALLEN JR BLVD NW
SUITE 530
ATLANTA,GA30308 		NONE PC MOVEMENT OF JUST ENERGY IN THE SOUTH 100,000

PIEDMONT VIRGINIA COMMUNITY COLLEGE

501 COLLEGE DR
CHARLOTTESVIILLE,VA22902 		NONE PC SOUTHERN HEP PROGRAM SUPPORT 70,000

PIEDMONT VIRGINIA COMMUNITY COLLEGE

501 COLLEGE DR
CHARLOTTESVIILLE,VA22902 		NONE PC RACIAL EQUITY TRAINING FOR STAFF 8,000

POWER COALITION FOR EQUITY &
JUSTICE
4930 WASHINGTON AVE
SUITE E
NEW ORLEANS,LA70125 		NONE PC GENERAL OPERATING SUPPORT 75,000

RAPPAHANNOCK COMMUNITY COLLEGE

PO BOX 923
WARSAW,VA22572 		NONE PC HAYNESVILLE PRISON ED PROGRAM 51,800

REAL LIFE

PO BOX 27372
RICHMOND,VA23261 		NONE PC EDUCATIONAL PATHWAYS PROGRAM 40,000

REDTAILED HAWK COLLECTIVE

2432 MAIN ST
LONGMONT,CO80501 		NONE PC GENERAL OPERATING SUPPORT 50,000

RESILIENCE EDUCATION

PO BOX 4631
CHARLOTTESVILLE,VA22905 		NONE PC PROGRAM SUPPORT 55,000

RURAL EMPOWERMENT ASSOCIATION OF
COMMUNITY HELP
2389 W WARDS BRIDGE RD
WARSAW,NC28398 		NONE PC GENERAL OPERATING SUPPORT 50,000

RURAL INVESTMENT TO PROTECT
OUR ENVIRONMENT
676 ASHLAND AVE
APT 7
ST PAUL,MN55104 		NONE PC GENERAL OPERATING SUPPORT 75,000

SHAW UNIVERSITY

118 E SOUTH STREET
RALEIGH,NC27601 		NONE PC REDUCING RECIDIVISM THRU HIGHER EDUC 50,000

SIDE BY SIDE

300 SUNNY HILLS DR
SAN ANSELMO,CA94960 		NONE PC GENERAL OPERATING SUPPORT 60,000

SOMOS SIEMBRA

801 NEW GARDEN RD
GREENSBORO,NC27410 		NONE PC GENERAL OPERATING SUPPORT 25,000

SOUTHERN VISION ALLIANCE

PO BOX 51698
DURHAM,NC27717 		NONE PC GENERAL OPERATING SUPPORT 50,000

SOUTHERNERS ON NEW GROUND

PO BOX 11250
ATLANTA,GA30310 		NONE PC GENERAL OPERATING SUPPORT 25,000

SOUTHSIDE VIRGINIA COMMUNITY
COLLEGE CAMPUS WITHIN WALLS
109 CAMPUS DR
ALBERTA,VA23821 		NONE PC HEP PROGRAM SUPPORT 900

SOUTHWEST GEORGIA PROJECT FOR
COMMUNITY EDUCATION INC
PO BOX 1933
ALBANY,GA31702 		NONE PC GENERAL OPERATING SUPPORT 75,000

SOWEGA RISING

PO BOX 5261
ALBANY,GA31706 		NONE PC CLIMATE AND ENVIRONMENTAL JUSTICE 50,000

STETSON COMMUNITY EDUCATION PROJECT

421 N WOODLAND BLVD
UNIT 8279
DELAND,FL32723 		NONE PC GENERAL OPERATING SUPPORT 71,684

STETSON COMMUNITY EDUCATION PROJECT

421 N WOODLAND BLVD
UNIT 8279
DELAND,FL32723 		NONE PC CONTINUITY PLANNING/LEADERSHIP DEV 6,000

TAKE RESOURCE CENTER

7128 OPORTO MADRID BLVD
BIRMINGHAM,AL35206 		NONE PC TO SUPPORT ANTI-TRANS DISCRIM LEGISL 5,000

TAPROOT EARTH

PO BOX 521217
TULSA,OK74152 		NONE PC GULF SOUTH FOR A GREEN NEW DEAL 100,000

TENNESSEE HIGHER EDUCATION
INITIATIVE
1006 SHELBY AVE
NASHVILLE,TN37206 		NONE PC PROGRAM SUPPORT 80,000

TENNESSEE HIGHER EDUCATION
INITIATIVE
1006 SHELBY AVE
NASHVILLE,TN37206 		NONE PC SOUTHERN HEP COLLECTIVE SUPPORT 35,000

TENNESSEE HIGHER EDUCATION
INITIATIVE
1006 SHELBY AVE
NASHVILLE,TN37206 		NONE PC SUPPORT FOR STAFF TRAUMA 8,000

TENNESSEE HIGHER EDUCATION
INITIATIVE
1006 SHELBY AVE
NASHVILLE,TN37206 		NONE PC TN PRISON COLLEGE COALITION 45,000

THE EDUCATION TRUST

1501 K ST NW
SUITE 200
WASHINGTON,DC20005 		NONE PC JUSTICE IMPACTED FELLOWSHIP & ADV BD 50,000

THE KNIGHTS & ORCHIDS SOCIETY

17 BROAD ST
SELMA,AL36701 		NONE PC RAPID RESPONSE GRANT 6,000

THE MOVEMENT FOR BLACK LIVES

15442 VENTURA BLVD
SUITE 101
SHERMAN OAKS,CA91403 		NONE PC BTGNCI TASK FORCE 50,000

THE ROANOKE ECONOMIC DEVELOPMENT
CENTER INC
518 NC 561 WEST AHOSKIE
AULANDER,NC27805 		NONE PC GENERAL OPERATING SUPPORT 50,000

THE SMILE TRUST INC

937 NW 3RD AVE
MIAMI,FL33136 		NONE PC RAPID RESPONSE FUNDS 25,000

THE SOUTHEAST CLIMATE & ENERGY NET

9311 NW 43RD MNR
SUNRISE,FL333515923 		NONE PC GENERAL OPERATING SUPPORT 50,000

THE UNIVERSITY OF MISSISSIPPI
PRISON TO COLLEGE PIPELINE
PO BOX 1848
UNIVERSITY,MS38677 		NONE PC GENERAL OPERATING SUPPORT 50,000

THE VIRGINIA FOUNDATION FOR
COMMUNITY COLLEGE EDUCATION
300 ARBORETUM PL
SUITE 200
RICHMOND,VA23236 		NONE PC VA HIGHER EDUCATION IN PRISON 40,000

TIME OUT YOUTH

3800 MONROE RD
CHARLOTTE,NC28205 		NONE PC GENERAL OPERATING SUPPORT 100,000

TRANS JUSTICE FUNDING PROJECT

PO BOX 150315
BROOKLYN,NY11215 		NONE PC TRANS JUSTICE FUNDING PROJECT 75,000

TRANSGENDER LEGAL DEFENSE &
EDUCATION FUND
520 8TH AVE
SUITE 2204
NEW YORK,NY10018 		NONE PC RAPID RESPONSE GRANT 15,000

TRANZMISSION

70 WOODFIN PLACE
ASHEVILLE,NC28801 		NONE PC GENERAL OPERATIONS 35,000

TRANZMISSION

70 WOODFIN PLACE
ASHEVILLE,NC28801 		NONE PC SUPPORT FOR DEVELOPMENT DIRECTOR 2,000

UNA RESTORATIVE JUSTICE LAB

007 WILLINGHAM HALL
UNA BOX 5194
FLORENCE,AL35632 		NONE PC RESTORATIVE JUSTICE LAB 50,000

UNA RESTORATIVE JUSTICE LAB

007 WILLINGHAM HALL
UNA BOX 5194
FLORENCE,AL35632 		NONE PC 2023 NCHEP 1,800

VERA INSTITUTE OF JUSTICE

34 35TH STREET 4-2A
BROOKLYN,NY11232 		NONE PC UNLOCKING POTENTIAL PROJECT 30,000

VIRGINIA ANTI-VIOLENCE PROJECT

PO BOX 7445
RICHMOND,VA23221 		NONE PC FUND DEVELOPMENT 5,000

VIRGINIA ANTI-VIOLENCE PROJECT

PO BOX 7445
RICHMOND,VA23221 		NONE PC SUPPORT FOR LGBTQ PROGRAMMING 40,000

VIRGINIA CENTER FOR INCLUSIVE
COMMUNITIES
5511 STAPLES MILL RD
SUITE 202
RICHMOND,VA23228 		NONE PC GENERAL OPERATING SUPPORT 50,000

VIRGINIA CENTER FOR INCLUSIVE
COMMUNITIES
5511 STAPLES MILL RD
SUITE 202
RICHMOND,VA23228 		NONE PC CAPACITY BUILDING - CRISIS COMMUNICA 8,000

VIRGINIA ORGANIZING

703 CONCORD AVE
CHARLOTTESVILLE,VA22903 		NONE PC GENERAL OPERATING SUPPORT 50,000

WE ARE FAMILY

1801 REYNOLDS AVE
UNIT B
NORTH CHARLESTON,SC29405 		NONE PC GENERAL OPERATING SUPPORT 45,000

WESTERN NC COMMUNITY HEALTH SERVICE

29 TURTLE CREEK DR
ASHEVILLE,NC28803 		NONE PC PROJECT SUPPORT 35,000

WVU HIGHER EDUCATION IN PRISON
INITIATIVE
PO BOX 6201
MORGANTOWN,WV26506 		NONE PC HIGHER ED IN PRISON INITIATIVE PROG 65,000

WVU HIGHER EDUCATION IN PRISON
INITIATIVE
PO BOX 6201
MORGANTOWN,WV26506 		NONE PC 2023 NCHEP 675

YOUTH OUTRIGHT WNC INC

PO BOX 1893
ASHEVILLE,NC28802 		NONE PC GENERAL OPERATING SUPPORT 40,000
Total .................................right arrow 3a 5,979,331
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 488,355  
4 Dividends and interest from securities ....     14 1,209,482  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 10,632  
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 10,518  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 1,402,298  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aSTATE TAX REFUND 		    14    
bUNUSED GRANT FUNDS RETURNED     1 536  
cARAVAIPA 900099 6,952      
dARAVAIPA         -1,676
eECOTRUST II 900099 94,789      
fIMPACT AMERICA FUND L.P.         -6,311
gCLEAN GROWTH FUND 900099 -1,453      
hCLEAN GROWTH FUND         -3,314
iCOASTAL VENTURES IV 900099 7,170      
jCOASTAL VENTURES IV         -14,459
kJUMPFUND II         -2,827
lARBORVIEW CAPITAL PARTNERS         -10,589
mECOTRUST III 900099 -14,075      
nECOTRUST III         -1,548
oIMPACT AMERICA FUND II         -6,096
pIMPACT AMERICA FUND III         -12,683
qBLACKSTAR STABILITY DISTRES 900099 -11,679      
rINVEST APPALACHIA FUND 900099 -11,731      
12 Subtotal. Add columns (b), (d), and (e) .. 69,973 3,121,821 -59,503
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,132,291
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INDIRECT ACCOUNTING FEES 7,275      

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

TY 2023 DepreciationSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
OFFICE FURINITURE AND EQUIP 2016-07-01 5,340 5,220 200DB 7.0000 120      
OFFICE BUILDOUT 2020-09-15 176,032 29,339 S/L 15.0000 11,735      
CC LAPTOP 2020-10-02 1,471 1,047 200DB 5.0000 169      
CC PRINTER 2020-10-02 85 61 200DB 5.0000 9      
CC FILE CABINET 2020-10-02 119 67 200DB 7.0000 15      
HEADPHONES 2020-11-03 903 643 200DB 5.0000 104      
KEYBOARDS, MICE 2020-11-03 152 109 200DB 5.0000 17      
FRIDGE, DISHWASHER, MICROWAVE 2020-12-01 2,570 1,446 200DB 7.0000 321      
OFFICE FURINTURE 2020-12-03 79,125 44,522 200DB 7.0000 9,887      
MONITOR FOR KAREN 2020-12-23 183 130 200DB 5.0000 21      
STORAGE ROOM CABINETS 2020-12-23 1,887 1,343 200DB 5.0000 218      
SECURITY DOOR 2020-12-23 2,354 392 S/L 15.0000 157      
BLINDS 2020-12-23 7,052 3,968 200DB 7.0000 881      
LAPTOP - K CARLTON 2022-06-01 1,181 1,181 200DB 5.0000        
LAPTOP - L PENNY 2022-11-01 1,664 1,664 200DB 5.0000        

TY 2023 InvestmentsCorpBondsSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Name of Bond End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE 16,984,816 16,638,529

TY 2023 InvestmentsCorpStockSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Name of Stock End of Year Book Value End of Year Fair Market Value
SEE ATTACHED SCHEDULE 35,626,968 45,227,779

TY 2023 InvestmentsOtherSchedule2
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
RSF SOCIAL INVESTMENT FUND AT COST 275,000 288,309
ARAVAIPA VENTURE FUND, LLC AT COST 15,241 575,000
ECOTRUST FORESTS II, LLC AT COST 533,503 1,273,054
IMPACT AMERICA FUND, LP AT COST 74,169 267,728
JUMPFUND II, LP AT COST 197,570 226,311
COASTAL VENTURES IV LP AT COST 302,473 410,792
CLEAN GROWTH FUND IV LP AT COST 16,306 136,040
ARBORVIEW CAPITAL PARTNERS AT COST 429,210 608,271
ECOTRUST III AT COST 333,141 436,757
IMPACT AMERICA FUND II AT COST 132,552 197,297
IMPACT AMERICA FUND III AT COST 27,860 35,735
BLACKSTAR STABILITY DIST. DEB FUND AT COST 8,408 13,674
INVEST APPALACHIA FUND AT COST 155,359 124,169

TY 2023 LandEtcSchedule2
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
  280,118 114,786 165,332  


TY 2023 OtherAssetsSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
PREPAID FEDERAL EXCISE TAX 115,728 77,830 77,830


TY 2023 OtherDecreasesSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Description Amount
FMV>COST DONATIONS/K1 BASIS ADJ 305,645


TY 2023 OtherExpensesSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXPENSES        
INSURANCE 4,303      
DUES & MEMBERSHIPS 21,237      
OFFICE EXPENSE 2,800      
WORKERS COMP INSURANCE 1,438      
MISCELLANEOUS 1,410      
OPERATIONS OTHER 9,220      
BOARD MEETINGS 11,987     8,990
ADR FEES - SYNOVUS 2,814 2,814    
ADR FEES - COUNSEL TRUST 726 726    
NONDEDUCTIBLE EXPENSES K-1 795      
403B PLAN FEES 1,361      


TY 2023 OtherIncomeSchedule2
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
SYNOVUS NON DIVIDEND DIST 1,934 1,934  
COUNSEL NON DIVIDEND DIST 8,584 8,584  
UNUSED GRANT FUNDS RETURNED 536    
ARAVAIPA 6,952    
ARAVAIPA -1,676    
ECOTRUST II 94,789    
IMPACT AMERICA FUND L.P. -6,311    
CLEAN GROWTH FUND -1,453    
CLEAN GROWTH FUND -3,314    
COASTAL VENTURES IV 7,170    
COASTAL VENTURES IV -14,459    
JUMPFUND II -2,827    
ARBORVIEW CAPITAL PARTNERS -10,589    
ECOTRUST III -14,075    
ECOTRUST III -1,548    
IMPACT AMERICA FUND II -6,096    
IMPACT AMERICA FUND III -12,683    
BLACKSTAR STABILITY DISTRESSE -11,679    
INVEST APPALACHIA FUND -11,731    


TY 2023 OtherNotesLoansRcvblShortSch2
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Name of 501(c)(3) Organization Balance Due
NATURAL CAPITAL INV FD 102213 2
  		500,000
CLEAR COMFORT WATER LLC 06012019
  		100,000
DURHAM COMMUNITY LAND 41922
  		 
SUNWEALTH LOAN COMPANY 81222
  		500,000


TY 2023 OtherProfessionalFeesSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
SYNOVUS 210,523 136,840   21,052
SYNOVUS INVESTMENT FEES 15,968 15,968    
COUNSEL INVESTMENT FEES 95,783 95,783    
COUNSEL CUSTODIAN FEES 95,884 62,325   9,588
CONSULTING 239,775     150,701


TY 2023 TaxesSchedule
Name:
LAUGHING GULL FOUNDATION
EIN:
36-4749289
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES WITHHELD-SYNOVUS 10,820 10,820    
FOREIGN TAXES WITHHELD - COUNCIL 26,348 26,348    
EXCISE TAX 37,898      
FOREIGN TAX - CLEAN GROWTH K-1 8 8