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
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
WATSON-BROWN FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)310 TOM WATSON WAY
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
THOMSON, GA308240037
A Employer identification number

23-7097393
B Telephone number (see instructions)

(706) 595-8886
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$164,759,404J 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 124,577 124,577  
4 Dividends and interest from securities... 2,764,789 2,831,127  
5a Gross rents............ 21,082 21,082  
b Net rental income or (loss) 21,082
6a Net gain or (loss) from sale of assets not on line 10 11,019,368
b Gross sales price for all assets on line 6a 12,473,006
7 Capital gain net income (from Part IV, line 2)... 11,019,368
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 263
b Less: Cost of goods sold.... 208
c Gross profit or (loss) (attach schedule)..... 55  
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
1,380 0  
12 Total. Add lines 1 through 11........ 13,931,251 13,996,154  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 204,754 20,475   184,279
14 Other employee salaries and wages...... 644,875 7,599   637,276
15 Pension plans, employee benefits....... 164,307 3,591   160,716
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
100 0   100
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
30,570 15,285   15,285
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
237,051 225,191   11,860
17 Interest............... 44,309 0   44,309
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
237,152 19,532   66,620
19 Depreciation (attach schedule) and depletion... 491,077 0  
20 Occupancy.............. 338,923 932   337,991
21 Travel, conferences, and meetings....... 36,301 13   36,288
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
529,897 3,938   524,737
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,959,316 296,556   2,019,461
25 Contributions, gifts, grants paid....... 5,170,152 5,205,207
26 Total expenses and disbursements. Add lines 24 and 25 8,129,468 296,556   7,224,668
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,801,783
b Net investment income (if negative, enter -0-) 13,699,598
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 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......... 8,266,571 4,343,514 4,343,514
3 Accounts receivable right arrow3,317
Less: allowance for doubtful accounts right arrow   1,354 3,317 3,317
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use.............. 6,700 7,156 7,156
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 114,447,110 Click to see attachment
List of Attached Documents:
// Content
123,924,724 		145,305,391
14 Land, buildings, and equipment: basis right arrow23,271,361
Less: accumulated depreciation (attach schedule) right arrow8,655,340 14,787,901 14,616,021 14,616,021
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
481,005 		Click to see attachment
List of Attached Documents:
// Content
484,005 		Click to see attachment
List of Attached Documents:
// Content
484,005
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 137,990,641 143,378,737 164,759,404
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)...... 1,721,870 1,287,342
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
10,060 		Click to see attachment
List of Attached Documents:
// Content
30,901
23 Total liabilities (add lines 17 through 22)......... 1,731,930 1,318,243
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...........    
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........ 136,258,711 142,060,494
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 136,258,711 142,060,494
30 Total liabilities and net assets/fund balances (see instructions). 137,990,641 143,378,737
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
136,258,711
2
Enter amount from Part I, line 27a .....................
2
5,801,783
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
142,060,494
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
142,060,494
Form 990-PF (2024)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PASS-THRU NII FROM K-1 INVESTMENTS      
b 18,624.642 SHARES VANGUARD TOTAL WORLD STOCK INDEX      
c 78,787.879 SHARES VANGUARD TOTAL BOND MARKET INDEX      
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 10,913,006     10,913,006
b 780,000   706,269 73,731
c 780,000   747,369 32,631
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       10,913,006
b       73,731
c       32,631
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 11,019,368
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 190,424
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........................... 3 190,424
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- ..... 5 190,424
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 235,284
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 88,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 323,284
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 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 132,860
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow132,860 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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 arrowGA
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 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowWWW.WATSON-BROWN.ORG
14
The books are in care ofright arrowTHOMAS W BROWN JR Telephone no.right arrow (706) 595-8886

Located atright arrow310 TOM WATSON WAYTHOMSONGA ZIP+4right arrow308240037
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 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)
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
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)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
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
 
No
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 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
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 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.) .....................
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 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
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
THOMAS W BROWN JR PRESIDENT, CEO & CFO
50.00 		168,754 19,185 0
310 TOM WATSON WAY
THOMSON,GA30824
JOHN WOODHAM SECRETARY
2.50 		12,000 0 0
310 TOM WATSON WAY
THOMSON,GA30824
SARA KATHERINE DRURY TRUSTEE
2.50 		12,000 0 0
310 TOM WATSON WAY
THOMSON,GA30824
THOMAS W BROWN III TRUSTEE
2.50 		12,000 0 0
310 TOM WATSON WAY
THOMSON,GA30824
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
GROUND MANAGER GROUND MANAGER
45.00 		80,828 16,550 0
310 TOM WATSON WAY
THOMSON,GA30824
ACCOUNTANTADMIN ACCOUNTANT/ADMIN
45.00 		75,991 16,400 0
310 TOM WATSON WAY
THOMSON,GA30824
HOUSE MUSEUM CURATOR HOUSE MUSEUM CURATOR
45.00 		73,178 16,295 0
310 TOM WATSON WAY
THOMSON,GA30824
HICKORY HILL CURATOR HICKORY HILL CURATOR
45.00 		65,933 16,025 0
310 TOM WATSON WAY
THOMSON,GA30824
COBB HOUSE CURATOR COBB HOUSE CURATOR
45.00 		64,319 15,959 0
310 TOM WATSON WAY
THOMSON,GA30824
Total number of other employees paid over $50,000...................right arrow 4
Form 990-PF (2024)
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
MERCER INVESTMENT CONSULTING INC INVESTMENT CONSULTING 191,050
701 MARKET STREET SUITE 1100
ST LOUIS,MO63101
WIERSTEWART LLC ADVERTISING 58,497
982 BROAD STREET
AUGUSTA,GA30001
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 MAINTAINING AND PRESERVING THREE HISTORIC HOUSE MUSEUMS AND THEIR HISTORIC GARDENS AND GROUNDS FOR THE CONDUCT OF VARIOUS EDUCATIONAL PROGRAMMING INCLUDING PUBLIC TOURS, SCHOOL FIELD TRIPS, SEMINARS AND SYMPOSIA, SUMMER CAMPS, 1,174,014
2 ALLOCATION OF EXPENSES FOR ADMINISTERING SCHOLARSHIPS ANDGRANTS INCURRED BY THE FOUNDATION OFFICE. ALLOCATION ISBASED ON A COMBINATION OF DIRECT COST AND A PERCENTAGE OFALL OTHER EXPENSES. 5,205,207
3 TOM WATSON BROWN BOOK AWARD. THE ANNUAL AWARD IS MADE THROUGH THE AUSPICES OF THE SOCIETY OF CIVIL WAR HISTORIAN FOR A SINGLE OUTSTANDING BOOK ON THE AMERICAN CIVIL WAR. SCHOLARLY AND TRADE PRESSES SUBMIT BOOKS FOR CONSIDERATION BY A THREE JUROR PANEL OF CIVIL WAR SCHOLARS. 75,301
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
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
138,290,722
b
Average of monthly cash balances.......................
1b
9,641,021
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
147,931,743
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
147,931,743
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
2,218,976
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
145,712,767
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
7,285,638
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
7,285,638
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
190,424
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
190,424
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
7,095,214
4
Recoveries of amounts treated as qualifying distributions................
4
35,055
5
Add lines 3 and 4............................
5
7,130,269
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
7,130,269
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
7,224,668
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
255,342
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
7,480,010
Form 990-PF (2024)
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 7,130,269
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 1,398,574
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022......  
e From 2023......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 7,480,010
a Applied to 2023, but not more than line 2a 1,398,574
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..... 6,081,436
e Remaining amount distributed out of corpus 0
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 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 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 .......... 		1,048,833
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) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
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 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) 2024 (b) 2023 (c) 2022 (d) 2021
         
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).)
THOMAS W BROWN JR
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
THOMAS W BROWN JR
310 TOM WATSON WAY
THOMSON,GA30824
(706) 595-8886
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS ARE WEB BASED AND PROVIDED BY FOUNDATION AS NEEDED.
cAny submission deadlines:
GRANTS DUE APRIL 15/ SCHOLARSHIPS DUE FEBRUARY 8
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
SCHOLARSHIP AWARDS ARE FOR A GIVEN ACEDMIC YEAR, AND HAVE A 3.0 G.P.A MAINTENANCE REQUIREMENT IS 3.0 AND A FULL-TIME ENROLLMENT AND ATTENDANCE REQUIREMENT AT AN ACCREDITED 4 YEAR COLLEGE.
Form 990-PF (2024)
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)
aPaid during the year

ABRAHAM BALDWIN AGRICULTURAL COLLEGE

2802 MOORE HWY
TIFTON,GA31794 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 48,000

AGNES SCOTT COLLEGE

141 E COLLEGE AVE
DECATUR,GA30030 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

ALABAMA A&M UNIVERSITY

PO BOX 907
NORMAN,AL35762 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

ALBANY STATE UNIVERSITY

504 COLLEGE DR
ALBANY,GA31705 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

ANDERSON UNIVERSITY

316 BOULEVARD BOX 1142
ANDERSON,SC29621 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 120,000

AUBURN UNIVERSITY

108 MARY MARTIN HALL
AUBURN,AL36849 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

AUGUSTA MUSEUM OF HISTORY

560 REYNOLDS ST
AUGUSTA,GA30901 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,227

AUGUSTA UNIVERSITY

11250 15TH ST
AUGUSTA,GA309120004 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 256,416

BELMONT UNIVERSITY

1900 BELMONT BLVD
NASHVILLE,TN37212 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

BENEDICTINE COLLEGE

1020 N 2ND ST
ATCHISON,KS66002 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

BERKLEE COLLEGE OF MUSIC

921 BOYSTON ST
BOSTON,MA02215 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

BERRY COLLEGE

2277 MARTHA BERRY HWY
MT BERRY,GA30149 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

BOB JONES UNIVERSITY

1700 WADE HAMPTON BLVD
GREENVILLE,SC29614 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

BOSTON UNIVERSITY

881 COMMONWEALTH AVE
BOSTON,MA02215 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

BRIGHAM YOUNG UNIVERSITY

D155 ASB
PROVO,UT84602 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 18,000

BRYN MAWR COLLEGE

101 N MERION AVENUE
BRYN MAWR,PA19010 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

CARLETON COLLEGE

ONE NORTH COLLEGE ST
NORTHFIELD,MN55057 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

CHARLESTON SOUTHERN UNIVERSITY

PO BOX 118087
CHARLESTON,SC29423 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 42,000

CITADEL

171 MOULTRIE ST
CHARLESTON,SC29409 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

CITY OF WASHINGTON

102 E LIBERTY ST
WASHINGTON,GA30673 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,850

CITY OF WINTERVILLE

PO NOX306
WINTERVILLE,GA30683 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 2,000

CLAFLIN UNIVERSITY

400 MAGNOLIA ST
ORANGEBURG,SC29115 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 17,168

CLAYTON STATE UNIVERSITY

2000 CLAYTON ST BLVD
MORROW,GA30260 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

CLEMSON UNIVERSITY

G-08 SIKES HALL
CLEMSON,SC296345307 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 684,659

COASTAL CAROLINA UNIVERSITY

PO BOX 261954
CONWAY,SC295286054 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

COLLEGE OF CHARLESTON

66 GEORGE STREET
CHARLESTON,SC294240001 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 120,000

COLUMBIA COLLEGE

1301 COLUMBIA COLLEGE DR
COLUMBIA,SC29203 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

COLUMBIA INTERNATIONAL UNIVERSITY

PO BOX 3122
COLUMBIA,SC29230 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

COLUMBUS STATE UNIVERSITY

4225 UNIVERSITY AVE
COLUMBUS,GA31907 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

CONVERSE COLLEGE

580 E MAIN ST
SPARTANBURG,SC293020006 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 72,000

COVENANT COLLEGE

14049 SCENIC HWY
LOOKOUT MOUNTAIN,GA30750 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

DAVIDSON COLLEGE

PO BOX 7157
DAVIDSON,NC280357157 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

DUKE UNIVERSITY

BOX 90759
DURHAM,NC277080759 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 54,000

EAST GEORGIA STATE COLLEGE

131 COLLEGE CIRCLE
SWAINSBORO,GA30401 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

ELIZABETH CITY STATE UNIVERSITY

227 MARION D THORPE SR ADMINISTRATI
N
ELIZABETH CITY,NC27909 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

ELON UNIVERSITY

100 CAMPUS DR
ELON,NC27244 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

EMBRY RIDDLE AERONAUTICAL UNIVERSITY

1 AEROSPACE BLVD
DATTONA BEACH,FL32114 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

EMORY UNIVERSITY

300 BOISFEUILLET JONES CTR
ATLANTA,GA30322 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 33,000

ERSKINE COLLEGE

TWO WASHINGTON ST
DUE WEST,SC29639 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 21,000

EUGENE LANG COLLEGE THE NEW SCHOOL

65 WEST 11TH ST
NEW YORK,NY10011 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

FASHION INSTITUTE OF TECHNOLOGY

BUSINESS LIBERAL ARTS CENTER ROOM
B1
NEW YORK,NY100015992 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

FISK UNIVERSITY

1000 17TH AVE N
NASHVILLE,TN37208 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

FLORIDA STATE UNIVERSITY

A-1500 UNIVERSITY CENTER
TALLAHASSEE,FL32306 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

FORT VALLEY STATE UNIVERSITY

1005 STATE UNIVERSITY DR
FORT VALLEY,GA31030 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

FRANKLIN OLIN COLLEGE OF ENGINEERING

1000 OLIN WAY
NEEDHAM,MA02492 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

FRANKLIN PIERCE UNIVERSITY

40 UNIVERSITY DRIVE
RINDGE,NH03461 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

FURMAN UNIVERSITY

3300 POINSETT HWY
GREENVILLE,SC296135253 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 92,967

GARDNER-WEBB UNIVERSITY

PO BOX 997
BOILING SPRINGS,NC28017 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

GEORGE WASHINGTON UNIVERSITY

800 21ST ST NW COLONIAL CENTRAL
WASHINGTON,DC20052 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

GEORGIA COLLEGE & STATE UNIVERSITY

CAMPUS BOX 96
MILLEDGEVILLE,GA31061 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 111,000

GEORGIA INSTITUTE OF TECHNOLOGY

225 NORTH AVE
ATLANTA,GA303320460 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 210,000

GEORGIA MILITARY COLLEGE

115 DAVIS ROAD
AUGUSTA,GA30907 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

GEORGIA SOUTHERN UNIVERSITY

PO BOX 8155
STATESBORO,GA30460 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 180,000

GEORGIA SOUTHWESTERN STATE UNIVERSITY

800 WHEATLEY ST
AMERICUS,GA317094379 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

GEORGIA STATE UNIVERSITY

PO BOX 4040
ATLANTA,GA303024040 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 39,305

GEORGIA TRUST FOR HISTORIC PRESERVATION

1516 PEACHTREE ST NW
ATLANTA,GA30309 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 5,025

GEORGIA'S OLD CAPITAL HERITAGE CENTER

95 DEPOT CIRCLE
MILLEDGEVILLE,GA31062 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 5,000

HABERSHAM EDUCATION AND RESEARCH INC

124 SPRINGBOOK DR
CORNELIA,GA30531 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 8,000

HAMPTON COLLEGE

ARMSTRONG-SLATER BLDG ROOM 100
HAMPTON,VA23668 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

HARVARD UNIVERSITY

86 BRATTLE ST
CAMBRIDGE,MA02138 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

HENDRIX COLLEGE

1600 WASHINGTON AVE
CONWAY,AR72032 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

HOWARD UNIVERSITY

2400 SIXTH ST NW STE 218
WASHINGTON,DC20059 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

JACKSON COUNTY GOVERNMENT

67 ATHENS ST
JEFFERSON,GA30549 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,848

JOHNS HOPKINS UNIVERSITY

3400 N CHARLES ST
BALTIMORE,MD21218 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 5,693

KENNESAW STATE UNIVERSITY

585 COBB AVE NW
KENNESAW,GA30144 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 120,000

LANDER UNIVERSITY

320 STANLEY AVE
LANDER,SC29649 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 99,000

LIBERTY UNIVERSITY

PO BOX 10425
LYNCHBURG,VA24515 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

LIMESTONE COLLEGE

1115 COLLEGE DR
GAFFNEY,SC29340 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

LYNN UNIVERSITY

GREEN CENTER
BOCA RATON,FL33431 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

MARS HILL UNIVERSITY

PO BOX 6686
MARS HILL,NC28754 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

77 MASSACHUSETTS AVE
CAMBRIDGE,MA02139 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

MERCER UNIVERSITY

1501 MERCER UNIVERSITY DR
MACON,GA31207 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 50,978

MIDDLE GEORGIA STATE UNIVERSITY

1100 SECOND ST SE
COCHRAN,GA31014 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

MISSISSIPPI STATE UNIVERSITY

GARNER HALL
MISSISSIPPI STATE,MS39762 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

MOREHOUSE COLLEGE

830 WESTVIEW DR
ATLANTA,GA30314 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

MOUNT VERNON NAZARENE UNIVERSITY

800 MARTINSBURG ROAD
MOUNT VERNON,OH430509500 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

MUHLENBERG COLLEGE

2400 W CHEW ST
ALLENTOWN,PA18104 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

NEW YORK UNIVERSITY

105 EAST 17TH ST
NEW YORK,NY10003 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

NEWBERRY COLLEGE

2100 COLLEGE ST
NEWBERRY,SC29108 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

NORTH CAROLINA A&T STATE UNIVERSITY

1601 E MARKET ST
GREENSBORO,NC27411 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 54,000

NORTH CAROLINA CENTRAL UNIVERSITY

PO BOX 19713
DURHAM,NC27707 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

NORTH CAROLINA STATE UNIVERSITY

2016 HARRIS HALL
RALEIGH,NC27695 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

NORTH GREENVILLE UNIVERSITY

PO BOX 1892
GREENVILLE,SC29688 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 24,000

NORTHEASTERN UNIVERSITY

254 RICHARDS HALL
BOSTON,MA02115 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

OGLETHORPE UNIVERSITY

4484 PEACHTREE RD NE
ATLANTA,GA30319 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

OREGON STATE UNIVERSITY

218 KERR ADMINISTRATION
CORVALLIS,OR97331 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

OXFORD COLLEGE OF EMORY UNIVERSITY

810 WHATCOAT STREET
OXFORD,GA30054 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

POST UNIVERSITY

800 COUNTRY CLUB ROAD
WATERBURY,CT06723 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

PRESBYTERIAN COLLEGE

503 SOUTH BROAD ST
CLINTON,SC29325 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 48,000

PRINCETON UNIVERSITY

PO BOX 35
PRINCETON,NJ08543 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 4,000

ROSE-HULMAN INSTITUTE OF TECHNOLOGY

5500 WABASH AVE
TERRE HAUTE,IN47803 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

SALEM COLLEGE

601 S CHURCH ST
WINSTONSALEM,NC27101 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

SAMFORD UNIVERSITY

800 LAKESHORE DR
BIRMINGHAM,AL35229 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

SAVANNAH COLLEGE OF ART & DESIGN

PO BOX 2072
SAVANNAH,GA314023146 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 36,000

SAVANNAH STATE

PO BOX 20523
SAVANNAH,GA31404 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 24,000

SCHOOL OF THE ART INSTITUTE OF CHICAGO

36 S WABASH AVE
CHICAGO,IL60603 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

SOUTH CAROLINA STATE UNIVERSITY

300 COLLEGE STREET
ORANGEBURG,SC29117 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

SOUTHERN WESLEYAN UNIVERSITY

907 WESLEYAN DRIVE
CENTRAL,SC29630 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

SPARTANBURG METHODIST COLLEGE

1000 POWELL MILL ROAD
SPARTANBURG,SC29301 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

SPELMAN COLLEGE

350 SPELMAN LANE SQ
ATLANTA,GA30314 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

STANFORD UNIVERSITY

520 LASUEN MALL
STANFORD,CA943053021 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

THOMSON MEMORIAL CEMETERY

104 COBB ST
THOMSON,GA30824 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 5,500

TOCCOA FALLS COLLEGE

PO BOX 800-900
TOCCOA FALLS,GA30598 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 20,206

TROY UNIVERSITY

600 UNIVERSITY AVE
TROY,AL36082 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

TRUETT-MCCONNELL COLLEGE

100 ALUMNI DR
CLEVELAND,GA30528 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

TUSKEGEE UNIVERSITY

CARNEGIE HALL
TUSKEGEE,AL36088 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 24,000

UNIVERSITY OF ALABAMA

BOX 870109
TUSCALOOSA,AL554870109 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

UNIVERSITY OF ALABAMA BIRMINGHAM

1720 2ND AVENUE S
BIRMINGHAM,AL35294 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

UNIVERSITY OF ALABAMA HUNTSVILLE

UNIVERSITY CENTER 212
HUNTSVILLE,AL35899 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

UNIVERSITY OF CALIFORNIA LOS ANGELES

1147 MURPHY HALL
LOS ANGELES,CA900951436 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

UNIVERSITY OF CHICAGO

ADMINISTRATION BLDG 101
CHICAGO,IL60637 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

UNIVERSITY OF DENVER

UNIVERSITY HALL ROOM 255
DENVER,CO80210 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

UNIVERSITY OF FLORIDA

PO BOX 114025
GAINESVILLE,FL326114025 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

UNIVERSITY OF GEORGIA

220 HOLMES/HUNTER ACADEMIC BLDG
ATHENS,GA306026114 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 570,000

UNIVERSITY OF MIAMI

PO BOX 248187
CORAL GABLES,FL331245240 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL

UNIVERSITY OF NORTH CAROLINA-CHAPEL
HILL
CHAPEL HILL,NC27599 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

UNIVERSITY OF NORTH GEORGIA

82 COLLEGE CIRCLE
DAHLONEGA,GA30597 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 48,000

UNIVERSITY OF OKLAHOMA

1000 ASP AVE
NORMAN,OK73019 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

UNIVERSITY OF PENNSYLVANIA

140 FRANKLIN BLDG
PHILADELPHIA,PA191046270 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 24,000

UNIVERSITY OF RICHMOND

28 WESTHAMPTON WAY
RICHMOND,VA23173 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

UNIVERSITY OF SOUTH CAROLINA-AIKEN

471 UNIVERSITY PKWY
AIKEN,SC29801 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 228,000

UNIVERSITY OF SOUTH CAROLINA-BEAUFORT

801 CARTERET ST
BEAUFORT,SC29902 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

UNIVERSITY OF SOUTH CAROLINA-COLUMBIA

516 MAIN ST
COLUMBIA,SC29208 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 564,000

UNIVERSITY OF SOUTH CAROLINA-UPSTATE

800 UNIVERSITY WAY
SPARTANBURG,SC29303 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 90,000

UNIVERSITY OF TENNESSEE

320 STUDENT SERVICES BLDG
KNOXVILLE,TN379960230 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 9,000

UNIVERSITY OF VIRGINIA

PO BOX 400204
CHARLOTTESVILLE,VA229044228 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

UNIVERSITY OF WEST GA

1601 MAPLE ST
CARROLLTON,GA301184400 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

VANDERBILT UNIVERSITY

2309 WEST END AVE
NASHVILLE,TN372031725 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 21,000

WAKE FOREST UNIVERSITY

PO BOX 7246
WINSTONSALEM,NC27109 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

WASHINGTON AND LEE UNIVERSITY

23 UNIVERSITY PL
LEXINGTON,VA24450 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 18,000

WELLESLEY COLLEGE

106 CENTRAL ST
WELLESLEY,MA02481 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

WESLEYAN COLLEGE

4760 FORSYTH RD
MACON,GA312104462 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

WESTERN CAROLINA UNIVERSITY

118 KILLIAN ANNEX
CULLOWHEE,NC28723 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 15,000

WILLIAM HARRIS HOMESTEAD FOUNDATION INC

3636 GEORGIA HWY 11
MONROE,GA30656 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 2,800

WINGATE UNIVERSITY

CAMPUS BOX 3001
WINGATE,NC28174 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

WINSTON-SALEM STATE UNIVERSITY

601 S MARTIN LUTHER KING JR DR
WINSTONSALEM,NC27110 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

WINTHROP UNIVERSITY

701 OAKLAND AVE
ROCK HILL,SC29733 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 63,000

WOFFORD COLLEGE

429 N CHURCH ST
SPARTANBURG,SC293033663 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 219,000

YALE UNIVERSITY

PO BOX 208288
NEW HAVEN,CT06520 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 12,000

CITY OF LEXINGTON

PO BOX 35
LEXINGTON,GA30648 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 7,640

CITY OF GORDON

110 SITTON AVE
GORDON,GA310312528 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 1,500

HISTORIC MACON FOUNDATION

950 THIRD ST
MACON,GA31201 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

OLD CLINTON HISTORICAL SOCIETY INC

154 RANDOLPH ST
GRAY,GA31032 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 11,000

BARTRAM TRAIL REGIONAL LIBRARY SYSTEM

204 EAST LIBERTY ST
WASHINGTON,GA30673 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 7,185

CITY OF WARRENTON

PO BOX 27
WARRENTON,GA30828 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 4,240

BRENAU UNIVERSITY

ONE CENTENNIAL CIRCLE
GAINESVILLE,GA30501 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

BUTLER UNIVERSITY

ROBERTSON HALL LOWER LEVEL 4600
SUNSET AVE
INDIANAPOLIS,IN46208 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

COLORADO SCHOOL OF MINES

1301 19TH ST
GOLDEN,CO80401 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

EAST TENNESSEE STATE UNIVERSITY

BOX 70732
JOHNSON CITY,TN37614 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

FLORIDA A&M

FOOTE HILYER ST
TALLAHASSEE,FL32307 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

LOUISIANA STATE UNIVERSITY

1146 PLEASANT HALL
BATON ROUGE,LA70803 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000

MERCER UNIVERSITY ATLANTA

3001 MERCER UNIVERSITY DR
ATLANTA,GA30341 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 6,000

MISSISSIPPI VALLEY STATE UNIVERSITY

14000 HIGHWAY 82 W
ITTA BENA,MS38941 		  PUBLIC AWARDED SCHOLARSHIP GRANTS 3,000
Total .................................right arrow 3a 5,205,207
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2024)
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
aSUMMER CAMPS         1,380
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 124,577  
4 Dividends and interest from securities ....     14 2,764,789  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....     16 21,082  
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 11,019,368  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory         55
11 Other revenue:
a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 13,929,816 1,435
13Total. Add line 12, columns (b), (d), and (e)..................
13
13,931,251
(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.)
1A ENVIRONMENTAL AND ARCHEOLOGICAL EDUCATION OF CHILDREN AND YOUNG ADULTS
Form 990-PF (2024)
Form 990-PF (2024)
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 Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2024 AccountingFeesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 30,570 15,285   15,285

TY 2024 GeneralExplanationAttachment
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Identifier Return Reference Explanation
COLUMN (A) & COLUMN (B) DIFFERENCES FORM 990-PF, PART I: COLUMN (B) INCLUDES ADDITIONAL PASS-THRU K-1 NET INCOME LESS PASS-THRU K-1 UBTI NET INCOME

TY 2024 InvestmentsOtherSchedule2
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
TIMBER AT COST 2,233,522 1,615,777
ALTERNATIVE PARTNERSHIP INVESTMENTS AT COST 121,573,289 143,571,701
LAND AT COST 117,913 117,913

TY 2024 LegalFeesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 100 0   100


TY 2024 OtherAssetsSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ARTWORK 441,004 444,004 444,004
HICKORY HILL LIBRARY 40,001 40,001 40,001


TY 2024 OtherExpensesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ADVERTISING 70,576 11   70,565
BANK CHARGES 455 72   383
BOD EXPENSES 7,577 0   7,577
DUES & SUBSCRIPTIONS 56 0   56
EQUIPMENT/LICENSE/RENTAL 33,763 0   33,763
HONORARIA, AWARDS & RECOGNITION 75,301 0   75,301
INFORMATION TECH 36,117 459   35,658
INSURANCE 103,038 2,979   100,059
MEMBERSHIPS 6,282 11   6,271
NON-DEDUCTABLE PORTFOLIO EXPENSES 1,222 0   0
OFFICE EXPENSES 144,242 302   143,940
SPONSORSHIP 49,955 104   49,851
TRAINING 1,313 0   1,313


TY 2024 OtherIncomeSchedule2
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
SUMMER CAMPS 1,380   1,380


TY 2024 OtherLiabilitiesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Description Beginning of Year - Book Value End of Year - Book Value
PAYROLL TAX PAYABLE 10,060 2
OTHER PAYABLES 0 30,899


TY 2024 OtherProfessionalFeesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 213,331 213,331   0
APPRAISALS 23,720 11,860   11,860


TY 2024 TaxesSchedule
Name:
WATSON-BROWN FOUNDATION INC
EIN:
23-7097393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PAYROLL TAXES 61,382 1,781   59,601
EXCISE TAX 151,000 0   0
PROPERTY TAXES 7,030 11   7,019
FOREIGN TAXES PAID 17,740 17,740   0