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
JOSEPH J SCHOTT FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)703 OLDE CENTRAL WAY
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MOUNT PLEASANT, SC29464
A Employer identification number

34-6513748
B Telephone number (see instructions)

(843) 670-8716
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$12,958,583J 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) 1,746
2 Check right arrow.............
3 Interest on savings and temporary cash investments 40,679 40,679  
4 Dividends and interest from securities... 114,918 114,918  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 80,640
b Gross sales price for all assets on line 6a 525,711
7 Capital gain net income (from Part IV, line 2)... 80,640
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
38 38  
12 Total. Add lines 1 through 11........ 238,021 236,275  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 132,000 21,424   110,576
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
200 0   200
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,415 1,811   604
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
29,099 25,094   4,005
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
36,203 36,203   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 199,917 84,532   115,385
25 Contributions, gifts, grants paid....... 501,500 501,500
26 Total expenses and disbursements. Add lines 24 and 25 701,417 84,532   616,885
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -463,396
b Net investment income (if negative, enter -0-) 151,743
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............. 52,249 188,378 188,378
2 Savings and temporary cash investments......... 71,332 218,920 218,920
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment
List of Attached Documents:
// Content
1,333,426 		1,344,285
b Investments—corporate stock (attach schedule)....... 7,262,997 Click to see attachment
List of Attached Documents:
// Content
7,328,773 		11,207,000
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)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,386,578 9,069,497 12,958,583
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
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........ 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 7,386,578 9,069,497
29 Total net assets or fund balances (see instructions)..... 7,386,578 9,069,497
30 Total liabilities and net assets/fund balances (see instructions). 7,386,578 9,069,497
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
7,386,578
2
Enter amount from Part I, line 27a .....................
2
-463,396
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
2,150,608
4
Add lines 1, 2, and 3 ..........................
4
9,073,790
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
4,293
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
9,069,497
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 CAPTRUST RGD - ST      
b CAPTRUST RGD - LT      
c MSCI FUND - LT      
d RUSSELL FUND - LT      
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 118,856   150,193 -31,337
b 374,140   266,983 107,157
c 30,951   27,236 3,715
d 1,764   659 1,105
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       -31,337
b       107,157
c       3,715
d       1,105
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 80,640
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 2,109
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 2,109
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 2,109
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 0
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 0
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 118
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 2,227
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow   Refundedright arrow 11  
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
 
No
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 arrowOH
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 .Click to see attachment
List of Attached Documents:
// Content
8b
 
No
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 arrowN/A
14
The books are in care ofright arrowWILLIAM D SAAL Telephone no.right arrow (843) 670-8716

Located atright arrow703 OLDE CENTRAL WAYMOUNT PLEASANTSC ZIP+4right arrow29464
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
ELIZABETH S SAAL VICE PRESIDENT/TREASURER
10.00 		36,000 0 0
703 OLDE CENTRAL WAY
MOUNT PLEASANT,SC29464
WILLIAM DUNNE SAAL PRESIDENT
10.00 		36,000 0 0
703 OLDE CENTRAL WAY
MOUNT PLEASANT,SC29464
R GREGORY SCHOTT SECRETARY
10.00 		36,000 0 0
703 OLDE CENTRAL WAY
MOUNT PLEASANT,SC29464
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...................right arrow 0
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (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
11,575,545
b
Average of monthly cash balances.......................
1b
1,163,781
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
12,739,326
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
12,739,326
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
191,090
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
12,548,236
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
627,412
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
627,412
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
2,109
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
2,109
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
625,303
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
625,303
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
625,303
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
616,885
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
616,885
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 7 625,303
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 269,058
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$ 616,885
a Applied to 2023, but not more than line 2a 269,058
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..... 347,827
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 .......... 		277,476
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).)
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:
WILLIAM DUNNE SAAL
703 OLDE CENTRAL WAY
MOUNT PLEASANT,SC29464
(843) 670-8716
bThe form in which applications should be submitted and information and materials they should include:
GRANT REQUEST ARE SENT TO THE ATTENTION OF TRUSTEE LISTED IN LINE 2A
cAny submission deadlines:
NONE
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
NONE
Form 990-PF (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

AGGIELAND HUMANE SOCIETY

5359 LEONARD RD
BRYAN,TX77807 		    GENERAL OPERATION 5,000

AMERICAN LUNG ASSOCIATION

500 W INTERNATIONAL AIRPORT RD
ACHORAGE,AK99518 		    GENERAL OPERATION 5,000

AUTISM COLLIER INC

15205 COLLIER BLVD STE 106
NAPLES,FL34119 		    GENERAL OPERATION 5,000

BEST BUDDIES

100 SE 2ND ST STE 2200
MIAMI,FL33131 		    GENERAL OPERATING 2,500

BLISS

1163 PLEASANT OAKS DR
MOUNT PLEASANT,SC29464 		    GENERAL OPERATION 2,500

BNY MELLON CHARITABLE GIFT FUND

201 WASHINGTON ST
BOSTON,MA02108 		    GENERAL OPERATION 2,500

CANCER ALLIANCE OF NAPLES

3394 WOODS EDGE CIRCLE STE 102
BONITA SPRINGS,FL34134 		    GENERAL OPERATION 2,500

CAROLINA ART ASSOCIATION

135 MEETING ST
CHARLESTON,SC29401 		    GENERAL OPERATION 25,000

CHARLESTON SYMPHONY

480 E BAY ST F
N CHARLESTON,SC29403 		    GENERAL OPERATION 5,000

CHERA

1001 CARPENTERS WAY NO I-220
LAKELAND,FL33809 		    GENERAL OPERATION 2,000

CHILDREN'S HOME NETWORK

10909 MEMORIAL HWY
TAMPA,FL33615 		    GENERAL OPERATION 2,500

CLEVELAND CLINIC

25875 SCIENCE PARK DR
BEACHWOOD,OH44122 		    GENERAL OPERATION 10,000

COLLEGE OF CHARLESTON FOUNDATION

66 GEORGE ST
CHARLESTON,SC29424 		    GENERAL OPERATION 5,000

CRISTO REY COLUMBUS HIGH SCHOOL

400 E TOWN ST
COLUMBUS,OH43215 		    GENERAL OPERATION 10,000

DEE NORTON LOWCOUNTRY CHILDREN'S CENTER

1061 KING STREET
CHARLESTON,SC29403 		    ABOVE AND BEYOND CAPITAL 10,000

DISCALCED CARMELITE NUNS

29190 SW 209TH AVE
HOMESTEAD,FL33030 		    GENERAL OPERATION 5,000

FEED THE NEED

PO BOX 1542
BASTROP,TX78602 		    GENERAL OPERATION 5,000

FRIENDS OF SOUTH FLORIDA AUTISM

3751 W 108TH ST
HIALEAH,FL33018 		    GENERAL OPERATION 2,500

FRIENDSHIP CIRCLE

8700 SW 112TH ST
MIAMI,FL33176 		    GENERAL OPERATING 5,000

GARGIULO EDUCATION CENTER

1414 RAIL HEAD BLVD
NAPLES,FL34110 		    GENERAL OPERTION 2,500

GOLDEN STRINGS INC

601 S HILL ST STE D1
LOS ANGELES,CA90014 		    GENERAL OPERATION 7,500

GULF COAST CRUSH INC

13220 RADCLIFFE DR
FORT MYERS,FL33966 		    GENERAL OPERATION 1,000

HALOS

4995 LACROSS RD STE 1300
N CHARLESTON,SC29406 		    GENERAL OPERATION 5,000

HARBOR SPRINGS HISTORICAL SOCIETY

349 E MAIN ST
HARBOR SPRINGS,MI49740 		    GENERAL OPERATION 10,000

HARBOR SPRINGS LIBRARY

206 S SPRING ST
HARBOR SPRINGS,MI49740 		    GENERAL OPERATION 1,000

HARRY CHAPIN FOOD BANK

3760 FOWLER ST
FT MYERS,FL33901 		    GENERAL OPERATING 2,500

IBU FOUNDATION

183B KING STREET
CHARLESTON,SC29401 		    GENERAL OPERATION 2,500

IMPACT100

2840 W BAY DR 133
BELLEAIR BLUFFS,FL33770 		    GENERAL OPERATION 1,000

LILABEAN FOUNDATION

105 ROCKDALE DR
SILVER SPRING,MD20901 		    GENERAL OPERATION 5,000

LITTLE TRAVERSE CONSERVACY

3264 POWELL RD
HARBOR SPRINGS,MI49740 		    GENERAL OPERATION 5,000

LITTLE TRAVERSE SAILORS

PO BOX 583
HARBOR SPRINGS,MI49740 		    GENERAL OPERATION 2,500

MANNA FOOD BANK

627 SWANNANOA RIVER RD
ASHEVILLE,NC28805 		    GENERAL OPERATION 5,000

MCLAREN N MICHIGAN HOSPITAL FOUNDATION

360 CONNABLE AVE
PETOSKEY,MI49770 		    GENERAL OPERATION 10,000

MT SINAI MEDICAL CENTER FOUNDATION

4300 ALTON ROAD
MIAMI BEACH,FL33140 		    GENERAL OPERATING 5,000

MUSC FOUNDATION

18 BEE ST MSC 450
CHARLESTON,SC29425 		    GENERAL OPERATION 10,000

N MICHIGAN EQUINE THERAPY

5025 CHURCH RD
BOYNE CITY,MI49712 		    GENERAL OPERATION 2,500

N MICHIGAN HABITAT FOR HUMANITY

1840 M 119 STE 1
PETOSKEY,MI49770 		    GENERAL OPERATION 10,000

NCH HEALTHCARE

PO BOX 234
NAPLES,FL34106 		    GENERAL OPERATION 7,500

ONE80 PLACE

PO BOX 20038
CHARLESTON,SC29413 		    GENERAL OPERATION 10,000

PORTER-GAUD FOUNDATION

300 ALBERMARLE ROAD
CHARLESTON,SC29407 		    RENEWAL CAPITAL CAMPAIGN 25,000

READING PARTNERS SOUTH CAROLINA

6296 RIVERS AVE STE 305
N CHARLESTON,SC29406 		    GENERAL OPERATION 2,500

RONALD MCDONALD HOUSE CHARLESTON

81 GADSDEN ST
CHARLESTON,SC29401 		    GENERAL OPERATION 10,000

ROPER HOSPITAL FOUNDATION

125 DOUGHTY STREET STE 790
CHARLESTON,SC29403 		    GENERAL OPERATION 25,000

SCHOTT COMMUNITIES

6591 S FLAMINGO RD
COOPER CITY,FL33330 		    GENERAL OPERATION 115,000

SIGHT FOR ALL

272-276 GILBERT STREET
ADELAIDE    
AS 		    GENERAL OPERATION 2,500

SIMPLE NEEDS GA INC

PO BOX 670265
MARIETTA,GA30066 		    GENERAL OPERATION 5,000

SOUTH CAROLINA AQUARIUM

100 AQUARIUM WHARF
CHARLESTON,SC29401 		    GENERAL OPERATION 5,000

ST BONAVENTURE CATHOLIC CHURCH

1301 SW 136TH AVE
DAVIE,FL33325 		    GENERAL OPERATION 1,500

ST JOHN'S COMMUNITY FUND

330 MARSHALL ST
LANSING,MI48912 		    GENERAL OPERATION 5,000

ST MARY'S CATHOLIC CHURCH

89 HASELL ST
CHARLESTON,SC29401 		    GENERAL OPERATION 2,500

ST RITA

1720 GLENDALE MILFORD RD
CINCINNATI,OH45215 		    GENERAL OPERATION 10,000

THE ROOM AT THE INN

447 W WASHINGTON ST
MARQUETTE,MI49855 		    GENERAL OPERATION 5,000

TRIDENT ACADEMY

1455 WAKENDAW RD
MOUNT PLEASANT,SC29464 		    GENERAL OPERATION 50,000

TRIDENT UNITED WAY

PO BOX 63305
N CHARLESTON,SC29419 		    GENERAL OPERATION 10,000

VILLAGE REPERTORY CO

34 WOOLFE ST
CHARLESTON,SC29403 		    GENERAL OPERATION 5,000

WOMEN'S RESOURCE CENTER

816 MADISON AVE SE
GRAND RAPIDS,MI49507 		    GENERAL OPERATION 5,000
Total .................................right arrow 3a 501,500
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
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 40,679  
4 Dividends and interest from securities ....     14 114,918  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 38  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    14 80,640  
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) .. 0 236,275 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
236,275
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (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:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 2,415 1,811   604

TY 2024 ExplnOfNonFilingWithAGStmt
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Statement:
MANDATORY ONLINE FILING OF THE OHIO ANNUAL REPORT REPLACES THE FILING OF FORM 990-PF WITH THE STATE.

TY 2024 InvestmentsCorpStockSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Name of Stock End of Year Book Value End of Year Fair Market Value
ABBVIE INC 21,939 45,491
ACUITY BRANDS INC COM 12,104 17,236
AFLAC 21,560 38,066
ALPHABET INC 52,113 78,370
AMAZON COM 19,335 45,194
APPLE INC COM 38,413 127,213
BANK OF AMERICA 17,651 33,138
BANK OZK LITTLE ROCK 19,867 20,083
BOOZ ALLEN HAMILTON HLDG CORP 9,357 16,345
BOYD WATTERSON LIMITED DURATION ENHANCED INCOME 2,066,305 2,072,163
CHEVRON CORP NEW COM 22,741 20,712
CISCO SYS INC COM 23,472 28,416
CITIGROUP INC 29,276 32,591
COCA COLA CO COM 27,320 29,324
EAGLE MATLS INC COM 22,237 27,144
EOG RES INC 18,662 27,090
EVERGY INC 39,483 41,916
FEDERAL AGRIC MTG CORP CL C 25,798 26,982
GARMIN LTD SHRS 31,089 49,090
GILEAD SCIENCES 33,377 48,864
INTERNATIONAL BUSINESS MACHS CORP COM 38,705 50,341
IRON MTN INC NEW COM 27,307 45,197
KROGER CO COM 25,818 32,715
LAM RESEARCH 10,774 31,781
LOCKHEED MARTIN CORP COM 30,381 30,614
LPL FINANCIAL HOLDINGS INC COM 29,132 43,099
MASTERCARD INC CL 33,239 56,869
MERECK & CO INC 27,315 33,027
META PLATFORMS 33,090 63,820
MICROSOFT CORP 71,960 122,235
MSCI ACWI EX USA NL CTF 1,468,417 1,938,683
MSCI CANADA SMALL CAP INDEX NL 14,546 22,415
MSCI EAFE SMALL CAP INDX NL 171,058 196,857
MSCI EMG MKTS SMALL CAP INDX 69,737 97,637
NEWSTAR MEDIA GROUP 8,466 14,849
NINTENDO LTD ADR 20,882 28,090
NUCOR CORP 17,718 20,658
NVIDIA CORP COM 46,001 108,641
PALO ALTO NETWORKS INC 9,915 21,835
PROCTER & GAMBLE CO 13,209 25,818
PULTEGROUP INC 9,276 31,145
QUALCOM INC COM 25,300 29,341
RESMED INC COM 26,804 25,613
RUSSELL 3000 INDX 2,368,015 5,107,217
SALESFORCE INC. COM 35,845 41,457
SPDR SER TR SPDR BLOOMBERG 4,847 4,846
TOYOTA MTR CO SPON ADR 26,993 30,943
VERISK ANALYTICS INC COM 12,741 14,322
WILLIAMS SONOMA INC 5,919 23,333
WK KELLOGG C COM 18,172 19,429
AMGEN INC. 38,095 36,229
COPA HOLDING S A CL A COM 36,997 32,516

TY 2024 InvestmentsGovtObligationsSch
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
US Government Securities - End of Year Book Value:

1,333,426
US Government Securities - End of Year Fair Market Value:

1,344,285
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 LegalFeesSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 200 0   200


TY 2024 OtherDecreasesSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Description Amount
UNREALIZED GAINS/LOSSES 1,161
TAX PAYMENT TO THE IRS 3,132


TY 2024 OtherExpensesSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INSURANCE 2,015 2,015   0
BANK SERVICE CHARGES 100 100   0
OFFICE EXPENSE 436 436   0
POSTAGE 65 65   0
MISC. EXPENSES 2,982 2,982   0
DUES 1,360 1,360   0
FOREIGN TAXES 134 134   0
INVESTMENT FEES 29,111 29,111   0


TY 2024 OtherIncomeSchedule2
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MISC INCOME 38 38 38


TY 2024 OtherIncreasesSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Description Amount
GAIN FROM DISTRIBUTION OF BOYD WATTERSON GSA K-1: BOOK TO TAX DIFFERENCE 2,150,608


TY 2024 OtherProfessionalFeesSchedule
Name:
JOSEPH J SCHOTT FOUNDATION
EIN:
34-6513748
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT FEES 29,099 25,094   4,005