TY 2024 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

2024

Open to Public Inspection

For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024

Name of foundation
JENA AND BOB GALLAGHER FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)103 EASTHAM CT
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MOORESVILLE, NC281176010

A Employer identification number

27-2167650

B Telephone number (see instructions)

(704) 936-1600

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

$2,337,992J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	503,802
2	Check .............
3	Interest on savings and temporary cash investments	29		29
4	Dividends and interest from securities...	41,202		41,202
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		618,676
b	Gross sales price for all assets on line 6a 2,232,183
7	Capital gain net income (from Part IV, line 2)...			618,676
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).......	List of Attached Documents: // Content	77	0
12	Total. Add lines 1 through 11........	1,163,786		659,907
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	8,404	8,404	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	4,416	445	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	12,820		8,849	0
25	Contributions, gifts, grants paid.......	235,150			235,150
26	Total expenses and disbursements. Add lines 24 and 25	247,970		8,849	235,150
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	915,816
b	Net investment income (if negative, enter -0-)			651,058
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2024)

Form 990-PF (2024)

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.............	44,339	86,491	86,491
	2	Savings and temporary cash investments.........		2,721	2,721
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	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).......	1,718,843	List of Attached Documents: // Content 2,248,780	2,248,780
	c	Investments—corporate bonds (attach schedule).......
	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
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	1,763,182	2,337,992	2,337,992
	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 )	List of Attached Documents: // Content 0	List of Attached Documents: // Content 36,900
	23	Total liabilities (add lines 17 through 22).........	0	36,900
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	1,763,182	2,301,092
	29	Total net assets or fund balances (see instructions).....	1,763,182	2,301,092
	30	Total liabilities and net assets/fund balances (see instructions).	1,763,182	2,337,992

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

1,763,182

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

915,816

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

List of Attached Documents:

// Content

241

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

2,679,239

Decreases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

378,147

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

2,301,092

Form 990-PF (2024)

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
1 a	PUBLICLY TRADED SECURITIES - ST
b	PUBLICLY TRADED SECURITIES - LT
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	1,016,062	1,028,395	-12,333
b	1,216,030	585,112	630,918
c	91		91
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			-12,333
b			630,918
c			91
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	618,676
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	9,050
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	9,050
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	9,050
6	Credits/Payments:

a	2024 estimated tax payments and 2023 overpayment credited to 2024	6a	2,000
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	2,000
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	7,050
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2025 estimated tax	Refunded	11

Form 990-PF (2024)

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 2024 or the taxable year beginning in 2024? 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

N/A

The books are in care of right arrow

JENA GALLAGHER Telephone no. right arrow

(704) 258-4912

Located at right arrow

103 EASTHAM COURTMOORESVILLENC ZIP+4 right arrow

28117

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 2024, 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 (2024)

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)

(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 2024? .............

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 2024, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2024?....................

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 2024 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 2024.) .....................

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 2024? ..

Form 990-PF (2024)

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)

(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? .................

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

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	(e) Expense account, other allowances
JENA GALLAGHER	DIRECTOR 5.00	0	0	0
103 EASTHAM COURT MOORESVILLE,NC28117	DIRECTOR 5.00	0	0	0
ROBERT GALLAGHER	DIRECTOR 5.00	0	0	0
103 EASTHAM COURT MOORESVILLE,NC28117	DIRECTOR 5.00	0	0	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
NONE









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

Form 990-PF (2024)

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


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... right arrow

Form 990-PF (2024)

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

1,834,947

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

40,966

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

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

1,875,913

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

1,875,913

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

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

28,139

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

1,847,774

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

92,389

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

92,389

Tax on investment income for 2024 from Part V, line 5 .......

9,050

Income tax for 2024. (This does not include the tax from Part V.) ...

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

9,050

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

83,339

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

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

83,339

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

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

83,339

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 ..........

235,150

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. .......

235,150

Form 990-PF (2024)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2023	(c) 2023	(d) 2024
1 Distributable amount for 2024 from Part X, line 7					83,339
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only.......				0
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2024:
a From 2019......	22,075
b From 2020......	135,872
c From 2021......	109,922
d From 2022......	40,266
e From 2023......	108,238
f Total of lines 3a through e ........		416,373
4Qualifying distributions for 2024 from Part
XI, line 4: $ 235,150
a Applied to 2023, 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 2024 distributable amount.....					83,339
e Remaining amount distributed out of corpus		151,811
5 Excess distributions carryover applied to 2024.		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		568,184
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 2023. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2024. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2025 ..........					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 2019 not applied on line 5 or line 7 (see instructions) ...		22,075
9 Excess distributions carryover to 2025. Subtract lines 7 and 8 from line 6a ......		546,109
10 Analysis of line 9:
a Excess from 2020....	135,872
b Excess from 2021....	109,922
c Excess from 2022....	40,266
d Excess from 2023....	108,238
e Excess from 2024....	151,811

Form 990-PF (2024)

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 2024, 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) 2024	(b) 2023	(c) 2022	(d) 2021	(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).)

JENA GALLAGHER

ROBERT GALLAGHER

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 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 (2024)

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
BIG BROTHERS BIG SISTERS 8514 MCALPINE PARK DRIVE 130 CHARLOTTE,NC28211		PC	PROGRAM SUPPORT	20,000
BIG WATER CREATIVE ARTS PO BOX 124 PETOSKEY,MI49770		PC	PROGRAM SUPPORT	5,000
BLUMENTHAL PERFORMING ARTS 130 NORTH TRYON STREET CHARLOTTE,NC28202		PC	PROGRAM SUPPORT	15,000
CAIN CENTER FOR THE ARTS PO BOX 1443 CORNELIUS,NC28031		PC	PROGRAM SUPPORT	7,500
CENTER FOR ACTION AND CONTEMPLATION PO BOX 12464 ALBUQUERQUE,NM87195		PC	PROGRAM SUPPORT	1,000
CHARMECK FAMILY JUSTICE CENTER INC 601 EAST 5TH STREET SUITE 400 CHARLOTTE,NC28202		PC	PROGRAM SUPPORT FOR THE UMBRELLA CENTER	15,000
COOL KIDSDAN JANSEN 8422 BELLONA LANE SUITE 102 TOWSON,MD21204		PC	PROGRAM SUPPORT	7,000
DOVE HOUSE ADVOCACY CENTER 2407 SIMONTON ROAD STATESVILLE,NC28625		PC	PROGRAM SUPPORT	5,000
ELON UNIVERSITY 2500 CAMPUS BOX ELON,NC27244		PC	PROGRAM SUPPORT	10,000
FEEDNC PO BOX 5173 MOORESVILLE,NC28117		PC	PROGRAM SUPPORT	71,750
GIRLS ON THE RUN IREDELL PO BOX 5603 MOORESVILLE,NC28117		PC	PROGRAM SUPPORT	1,000
HEALTH REACH CLINIC PO BOX 1265 MOORESVILLE,NC28115		PC	PROGRAM SUPPORT	2,500
HOPE AT THE LAKE 631 BRAWLEY SCHOOL RD STE 200B - PMB 307 MOORESVILLE,NC28117		PC	PROGRAM SUPPORT	3,000
INSPIRE OUR CHILDREN 631 BRAWLEY SCHOOL RD STE 200B - PMB 130 MOORESVILLE,NC28117		PC	PROGRAM SUPPORT	5,000
KINDNESS CLOSET PO BOX 4896 508 AGNEW ROAD MOORESVILLE,NC28117		PC	PROGRAM SUPPORT	1,000
LASTING SMILES UGANDA 969 THOMPSON SHORE DRIVE HOWELL,MI48843		PC	PROGRAM SUPPORT	5,000
MEREDITH COLLEGE 3800 HILLSBOROUGH STREET RALEIGH,NC27607		PC	PROGRAM SUPPORT FOR THE MEREDITH FUND	20,000
MOORESVILLE CHRISTIAN MISSION PO BOX 62 MOORESVILLE,NC28115		PC	PROGRAM SUPPORT	33,400
RAINBOW KIDZ PROGRAM OF HOSPICE & PALLIATIVE CARE OF IREDELL COUNTY 1325 MECKLENBURG HIGHWAY MOORESVILLE,NC28115		PC	PROGRAM SUPPORT	2,000
UNC CHAPEL HILL 104 AIRPORT DRIVE CB1270 CHAPEL HILL,NC27599		PC	PROGRAM SUPPORT	5,000
Total ................................. 3a				235,150

bApproved for future payment

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

Form 990-PF (2024)

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.)
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	29
4 Dividends and interest from securities ....			14	41,202
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 .....			01	77
8 Gain or (loss) from sales of assets other than inventory ............			18	618,676
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		659,984	0

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

659,984

(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.)

Form 990-PF (2024)

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 (2024)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

JENA AND BOB GALLAGHER FOUNDATION

Employer identification number

27-2167650

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization JENA AND BOB GALLAGHER FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	JENA AND BOB GALLAGHER 103 EASTHAM COURT MOORESVILLE, NC28117	$ 503,802	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization JENA AND BOB GALLAGHER FOUNDATION		Employer identification number 27-2167650

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
1	SECURITIES	$ 503,802
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization JENA AND BOB GALLAGHER FOUNDATION			Employer identification number 27-2167650
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

TY 2024 InvestmentsCorpStockSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	15,993	15,993
AGNICO EAGLE MINES LTD	6,726	6,726
ALPHABET INC	55,654	55,654
AMAZON COM INC	46,511	46,511
AMERICAN EXPRESS COMPANY	11,872	11,872
AMPHENOL CORP CL A NEW	16,251	16,251
APPLE INC	107,681	107,681
ASTRAZENECA	11,335	11,335
BLACKROCK INC	18,452	18,452
BOSTON SCIENTIFIC CORP	20,276	20,276
BROADCOM INC	27,125	27,125
CATERPILLAR INC DEL	14,148	14,148
CENCORA INC	6,291	6,291
CONOCOPHILLIPS	7,140	7,140
CONSOLIDATED EDISON INC	17,400	17,400
COSTCO WHOLESALE CRP	37,567	37,567
D R HORTON INC	3,635	3,635
ELI LILLY & CO	33,196	33,196
ENTERGY CORP	13,041	13,041
EXXON MOBIL CORP	32,809	32,809
FERRARI NV	10,621	10,621
FIFTH THIRD BANCORP	12,895	12,895
FRANKLIN TEMPLETON ETF	2,704	2,704
FRANKLIN FTSE UK ETF	41,747	41,747
FRANKLIN TEMPLETON ETF TR SHS	19,325	19,325
FRANKLIN FTSE JAPAN ETF	42,228	42,228
FREEPORT-MCMORAN INC	2,628	2,628
GILEAD SCIENCES INC	11,546	11,546
HCA HEALTHCARE INC	5,703	5,703
HILTON WORLDWIDE HOLDINGS INC	13,099	13,099
HOME DEPOT INC	21,394	21,394
HONEYWELL INTL INC	8,132	8,132
HOWMET AEROSPACE INC	11,484	11,484
INTERCONTINENTAL EXCHANGE INC	10,431	10,431
INTERACTIVE BROKERS GROUP	11,660	11,660
INTL BUSINESS MACHINES	10,772	10,772
INVESCO EMERGING MARKETS SOVEREIGN DEBT ETF	13,438	13,438
INVESCO PREFERRED ETF	9,005	9,005
ISHARES 20+ YEAR TREASURY BOND ETF	29,168	29,168
ISHARES EDGE MSCI MIN	3,073	3,073
ISHARES IBOXX $ INVT GRADE CORP BD	45,193	45,193
ISHARES INC CORE MSCI EMERGING MKTS ETF	20,575	20,575
ISHARES MBS ETF	117,900	117,900
ISHARES MSCI EUROZONE ETF	25,677	25,677
ISHARES MSCI SWEDEN ETF	971	971
ISHARES MSCI SWITZERLAND	6,802	6,802
ISHARES TIPS BOND ETF	22,695	22,695
JOHNSON CONTROLS INTER	11,997	11,997
J.P. MORGAN EXCHANGE	61,230	61,230
JPMORGAN CHASE & CO	42,189	42,189
KENVUE INC	3,288	3,288
MARTIN MARIETTA MATLS	8,264	8,264
MCDONALDS CORP	11,016	11,016
META PLATFORMS INC	13,467	13,467
MICRON TECHNOLOGY INC	7,322	7,322
MICROSOFT CORP	96,945	96,945
NETFLIX COM INC	16,044	16,044
NVIDIA	87,960	87,960
PALO ALTO NETWORKS INC	20,561	20,561
PARKER HANNIFIN CORP	22,261	22,261
PRINCIPAL FINANCIAL GROUP	5,806	5,806
PROCTER & GAMBLE CO	15,927	15,927
PROGRESSIVE CRP OHIO	27,555	27,555
PROLOGIS INC	10,041	10,041
ROSS STORES INC COM	12,858	12,858
RTX CORP	11,456	11,456
S&P GLOBAL INC	18,925	18,925
SCHLUMBERGER LTD	3,489	3,489
SCHWAB SHORT TERM US TREASURY ETF	65,564	65,564
SEAGATE TECH HLDGS PUB	9,408	9,408
SERVICENOW INC	16,962	16,962
STRYKER CORP	14,402	14,402
TESLA INC	24,230	24,230
TEXAS INSTRUMENTS	4,500	4,500
TJX COS INC	14,256	14,256
TPG INC	5,593	5,593
UNION PACIFIC CORP	6,157	6,157
UNITED RENTALS INC COM	9,862	9,862
UNITEDHEALTH GROUP INC	8,600	8,600
VANECK FALLEN ANGEL HIGH YIELD BOND ETF	3,555	3,555
VANGUARD INDEX FDS MID-CAP GROWTH INDEX	56,079	56,079
VANGUARD INTERM-TERM	27,144	27,144
VANGUARD MID-CAP VAL IDX	56,134	56,134
VANGUARD SCOTTSDALE	13,566	13,566
VANGUARD SHORT-TERM CORPORATE BOND	40,643	40,643
VANGUARD SMALL CAP GROWTH ETF	56,292	56,292
VANGUARD SMALL CAP VALUE ETF	55,689	55,689
VANGUARD TOTAL INTERNATL BOND ETF	57,585	57,585
VERTIV HLDG CO	5,680	5,680
VISA INC CLASS A	37,925	37,925
WALMART INC	34,423	34,423
WASTE CONNECTIONS INC	13,726	13,726
WELLTOWER INC	21,551	21,551
WILLIAMS COMPANIES DEL	8,767	8,767
WSTN DIGITAL CORP	10,674	10,674
XCEL ENERGY INC	11,276	11,276
ZOETIS INC	15,967	15,967

- TIN:

TY 2024 OtherDecreasesSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Description	Amount
UNREALIZED GAINS/(LOSSES)	378,147

- TIN:

TY 2024 OtherIncomeSchedule2

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
UNCOLLECTIBLES	77	0	77

- TIN:

TY 2024 OtherIncreasesSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Description	Amount
NON-DIVIDEND DISTRIBUTIONS	241

- TIN:

TY 2024 OtherLiabilitiesSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Description	Beginning of Year - Book Value	End of Year - Book Value
CHECKS IN TRANSIT	0	36,900

- TIN:

TY 2024 OtherProfessionalFeesSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	8,404	8,404		0

- TIN:

TY 2024 TaxesSchedule

Name:

JENA AND BOB GALLAGHER FOUNDATION

EIN:

27-2167650

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	445	445		0
FEDERAL TAX	3,971	0		0