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
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
 
Number and street (or P.O. box number if mail is not delivered to street address)POST OFFICE BOX 1415
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SMITHFIELD, NC27577
A Employer identification number

56-2002528
B Telephone number (see instructions)

(919) 414-2515
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$28,108,783J 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) 331,919
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 507,571 506,475  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 693,650
b Gross sales price for all assets on line 6a 5,588,864
7 Capital gain net income (from Part IV, line 2)... 693,650
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).......      
12 Total. Add lines 1 through 11........ 1,533,140 1,200,125  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
350 175   175
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
3,200 1,600   1,600
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
13,234 13,234   0
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
87,745 70,064   0
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 104,529 85,073   1,775
25 Contributions, gifts, grants paid....... 1,017,500 1,017,500
26 Total expenses and disbursements. Add lines 24 and 25 1,122,029 85,073   1,019,275
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 411,111
b Net investment income (if negative, enter -0-) 1,115,052
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............. 499,599 1,385,698 1,385,698
2 Savings and temporary cash investments.........      
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)      
b Investments—corporate stock (attach schedule)....... 15,735,291 Click to see attachment
List of Attached Documents:
// Content
15,477,164 		25,998,370
c Investments—corporate bonds (attach schedule)....... 1,492,182 Click to see attachment
List of Attached Documents:
// Content
1,282,362 		721,531
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) Click to see attachment
List of Attached Documents:
// Content
10,225 		Click to see attachment
List of Attached Documents:
// Content
3,184 		Click to see attachment
List of Attached Documents:
// Content
3,184
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 17,737,297 18,148,408 28,108,783
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 17,737,297 18,148,408
29 Total net assets or fund balances (see instructions)..... 17,737,297 18,148,408
30 Total liabilities and net assets/fund balances (see instructions). 17,737,297 18,148,408
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
17,737,297
2
Enter amount from Part I, line 27a .....................
2
411,111
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
18,148,408
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
18,148,408
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 AS REPORTED BY FIRST CITIZENS INVESTOR SERVICES P 2024-01-01 2024-12-31
b AS REPORTED BY FIRST CITIZENS INVESTOR SERVICES P 2023-01-01 2024-12-31
c AS REPORTED BY FIRST CITIZENS TRUST SERVICES P 2024-01-01 2024-12-31
d AS REPORTED BY FIRST CITIZENS TRUST SERVICES P 2023-01-01 2024-12-31
e AS REPORTED BY FIRST CITIZENS TRUST SERVICES P 2023-01-01 2024-12-31
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 77,084   57,854 19,230
b 540,620   590,858 -50,238
c 1,919,191   1,770,560 148,631
d 3,029,660   2,475,942 553,718
e 693     693
21,616     21,616
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       19,230
b       -50,238
c       148,631
d       553,718
e       693
      21,616
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 2 693,650
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 15,499
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 15,499
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 15,499
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 11,075
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 11,075
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 4,424
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
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowNC
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 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 arrowOLIVIA HOLDING Telephone no.right arrow (919) 989-3281

Located atright arrow409 E MARKET STSMITHFIELDNC ZIP+4right arrow27577
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)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
 
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 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
OLIVIA B HOLDING PRESIDENT
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
FRANK B HOLDING JR VICE PRESIDENT
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
HOPE HOLDING BRYANT TREASURER
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
JUDITH A MURRAY SECRETARY
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
CLAIRE H BRISTOW DIRECTOR
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
CARSON H BRICE DIRECTOR
0.50 		0 0 0
PO BOX 1415
SMITHFIELD,NC27577
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
25,681,214
b
Average of monthly cash balances.......................
1b
857,090
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
26,538,304
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
26,538,304
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
398,075
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
26,140,229
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,307,011
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
1,307,011
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
15,499
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
15,499
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,291,512
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,291,512
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
1,291,512
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
1,019,275
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
1,019,275
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 1,291,512
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 1,015,323
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$ 1,019,275
a Applied to 2023, but not more than line 2a 1,015,323
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..... 3,952
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 .......... 		1,287,560
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 email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2024)
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

ALLEGHANY CARES

25 WOMBLE ST
SPARTA,NC28675 		NONE PC GENERAL SUPPORT 5,000

ALLEGHANY COUNTY RESCUE SQUAD

61 TROJAN AVENUE
SPARTA,NC28675 		NONE PC GENERAL SUPPORT 2,000

ALLIANCE MEDICAL MINISTRY

101 DONALD ROSS DR
RALEIGH,NC27610 		NONE PC GENERAL SUPPORT 13,000

APPALACHIAN STATE UNIVERSITY FOUNDATION

287 RIVERS ST
BOONE,NC28608 		NONE PC GENERAL SUPPORT 10,000

ARIZONA BAPTIST CHILDREN'S SERVICES

1779 N ALVERNON WAY
TUCSON,AZ85712 		NONE PC GENERAL SUPPORT 1,000

AVA GARDNER MUSEUM

325 E MARKET STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 1,000

BOY SCOUTS OF AMERICA - TUSCARORA COUNCIL

316 EAST WALNUT STREET
GOLDSBORO,NC27533 		NONE PC GENERAL SUPPORT 5,000

BOYS AND GIRLS CLUB OF CARTERET COUNTY

601 MULBERRY ST
BEAUFORT,NC28516 		NONE PC GENERAL SUPPORT 2,000

BOYS AND GIRLS CLUB OF WAKE COUNTY

701 RALEIGH BLVD
RALEIGH,NC27610 		NONE PC GENERAL SUPPORT 3,500

BURNING COAL THEATER

224 POLK ST
RALEIGH,NC27604 		NONE PC GENERAL SUPPORT 3,750

CAMP SEA GULLSEAFARER

2218 SEA GULL LANDING
ARAPAHOE,NC28510 		NONE PC GENERAL SUPPORT 6,000

CAMPBELL UNIVERSITY

143 MAIN STREET
BUIES CREEK,NC27506 		NONE PC GENERAL SUPPORT 15,000

CASA

624 W JONES ST
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 10,000

CENTENARY UNITED METHODIST CHURCH

140 E MARKET ST
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 20,000

CHERRY LANE VOLUNTEER FIRE DEPARTMENT

8378 US 21
GLADE VALLEY,NC28627 		NONE PC GENERAL SUPPORT 2,000

CHI OMEGA FOUNDATION

3395 PLAYERS CLUB PKWY
MEMPHIS,TN38125 		NONE PC GENERAL SUPPORT 25,000

CHRIST CHURCH

120 EAST EDENTON STREET
RALEIGH,NC27601 		NONE PC GENERAL SUPPORT 10,000

CLAYTON PIANO FESTIVAL

111 EAST SECOND STREET
CLAYTON,NC27520 		NONE PC GENERAL SUPPORT 5,000

CLIFFS CLOSET

134 NEW LEICESTER HWY
ASHEVILLE,NC28806 		NONE PC GENERAL SUPPORT 1,000

COMMUNITY AND SENIOR SERVICES OF JO CO

1363 W MARKET STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 2,000

COMMUNITY MUSIC SCHOOL

618 TUCKER ST
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 2,500

CONSERVATION TRUST FOR NC

1028 WASHINGTON ST
RALEIGH,NC27605 		NONE PC GENERAL SUPPORT 2,500

CRYSTAL COAST YOUNG LIFE

PO BOX 5186
BOONE,IA50950 		NONE PC GENERAL SUPPORT 2,000

DIX PARK CONSERVANCY

PO BOX 28575
RALEIGH,NC27611 		NONE PC GENERAL SUPPORT 1,000

EPWORTH CHILDREN'S HOME

2900 MILLWOOD AVE
COLUMBIA,SC29205 		NONE PC GENERAL SUPPORT 2,000

FIFTH STREET MINISTRIES

1421 5TH STREET
STATESVILLE,NC28677 		NONE PC GENERAL SUPPORT 2,000

FIRST PRESBYTERIAN CHURCH

215 S 3RD STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 7,000

FRED OLDS ELEMNTARY PTA

204 DIXIE TRAIL
RALEIGH,NC27607 		NONE PC GENERAL SUPPORT 3,000

FRIENDS OF JOHNSTON CO ANIMAL SHELTER

115 SHELTER WAY
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 5,000

FRIENDS OF SCOTLAND NECK LIBRARY

PO BOX 126
SCOTLAND NECK,NC27874 		NONE PC GENERAL SUPPORT 1,000

FRIENDS OF THE LIBRARY

CAMPUS BOX 7111 NCSU
RALEIGH,NC276957111 		NONE PC GENERAL SUPPORT 1,000

GIRL SCOUTS NORTH CAROLINA COASTAL PINES

6901 PINECREST ROAD
RALEIGH,NC27613 		NONE PC GENERAL SUPPORT 10,000

HAMMOND SCHOOL

854 GALWAY LN
COLUMBIA,SC29209 		NONE PC GENERAL SUPPORT 1,500

HARBOR INC

1149 BUFFALO ROAD
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 2,500

HAYES BARTON UNITED METHODIST CHURCH

2209 FAIRVIEW ROAD
RALEIGH,NC27608 		NONE PC GENERAL SUPPROT 15,000

HEALING TRANSITIONS

1251 GOODE ST
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 10,000

HELPING HANDS & HEALING HEARTS INC

308 N 4TH STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 1,000

HIGHER EDUCATION WORKS

PO BOX 10463
RALEIGH,NC27605 		NONE PC GENERAL SUPPORT 5,000

HOPEWAY FOUNDATION

1717 SHARON ROAD WEST
CHARLOTTE,NC28210 		NONE PC GENERAL SUPPORT 5,000

INTERACT

365 BOSTON POST ROAD SUITE 163
SUDBURY,MA01776 		NONE PC GENERAL SUPPORT 5,000

JOHNSTON CO DEPT OF SOCIAL SERVICES

714 NORTH ST
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 2,000

JOHNSTON COMMUNITY COLLEGE FDN

245 COLLEGE ROAD
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 10,000

JOHNSTON COUNTY ARTS COUNCIL

1115 OUTLET CENTER DRIVE
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 1,000

JOHNSTON COUNTY HERITAGE CENTER

241 E MARKET STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPROT 1,000

JOHNSTON HEALTH FOUNDATION

509 N BRIGHTLEAF BLVD
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 5,000

KIWANIS CLUB OF SMITHFIELD

3636 WOODVIEW TRACE
INDIANAPOLIS,IN46268 		NONE PC GENERAL SUPPORT 1,000

MT OLIVE COLLEGE FOUNDATION

634 HENDERSON STREET
MT OLIVE,NC28365 		NONE PC GENERAL SUPPORT 2,500

MY KIDS CLUB

PO BOX 784
SELMA,NC27576 		NONE PC GENERAL SUPPORT 10,000

NC AGRICULTURAL FOUNDATION INC

CAMPUS BOX 7601 NCSU
RALEIGH,NC27695 		NONE PC GENERAL SUPPORT 4,500

NC AQUARIUM SOCIETY

320 SALTAR PATH ROAD
ATLANTIC BEACH,NC28512 		NONE PC GENERAL SUPPORT 5,000

NC COASTAL FEDERATION

3609 NC 24
NEWPORT,NC28570 		NONE PC GENERAL SUPPORT 5,000

NC MUSEUM OF ART FOUNDATION

2110 BLUE RIDGE ROAD
RALEIGH,NC27607 		NONE PC GENERAL SUPPORT 15,000

NCCF

6301 GREENTREE RAOD
BETHESDA,MD20817 		NONE PC GENERAL SUPPORT 5,000

NEUSE LITTLE THEATRE

104 S FRONT ST
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 1,000

NORTH CAROLINA MUSEUM OF HISTORY

PO BOX 25937
RALEIGH,NC27611 		NONE PC GENERAL SUPPORT 1,000

NORTH CAROLINA OPERA

612 WADE AVENUE SUITE 100
RALEIGH,NC27605 		NONE PC GENERAL SUPPORT 2,000

NORTH CAROLINA SYMPHONY

3700 GLENWOOD AVE STE 130
RALEIGH,NC27612 		NONE PC GENERAL SUPPORT 50,000

NORTH SIDE FIRE & RESCUE

6483 COVERED BRIDGE RD
ARCHER LODGE,NC27527 		NONE PC GENERAL SUPPORT 2,500

PASQUANEY TRUST

19 PASQUANEY LANE
HEBRON,NH03241 		NONE PC GENERAL SUPPORT 5,000

PBS NORTH CAROLINA

PO BOX 14900
RESEARCH TRIANGLE PARK,NC277094900 		NONE PC GENERAL SUPPORT 7,500

PHILADELPHIA COMMUNITY CHURCH

357 HARE ROAD
GOLDSBORO,NC27534 		NONE PC GENERAL SUPPORT 1,000

PUBLIC RADIO EAST

800 COLLEGE COURT
NEW BERN,NC28562 		NONE PC GENERAL SUPPORT 1,000

RALEIGH FINE ARTS SOCIETY

PO BOX 10614
RALEIGH,NC27605 		NONE PC GENERAL SUPPORT 1,000

RALEIGH RESCUE MISSION

314 E HARGETT ST
RALEIGH,NC27601 		NONE PC GENERAL SUPPORT 10,000

ROARING GAP COMMUNITY CHURCH

PO BOX 129
ROARING GAP,NC28668 		NONE PC GENERAL SUPPORT 7,500

ROARING GAP FUND

751 WEST 4TH ST SUITE 200
WINSTON SALEM,NC27101 		NONE PC GENERAL SUPPORT 10,000

SAINT MARY'S SCHOOL

900 HILLSBOROUGH ST
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 11,500

SALEM ACADEMY & COLLEGE

601 S CHURCH ST
WINSTON SALEM,NC27101 		NONE PC GENERAL SUPPORT 225,000

SAVING GRACE ANIMALS FOR ADOPTION

PO BOX 1649
WAKE FOREST,NC27588 		NONE PC GENERAL SUPPORT 5,000

SCOA CARES

166 STONERIDGE DRIVE
COLUMBIA,SC29210 		NONE PC GENERAL SUPPORT 5,000

SEASONS VILLAGE

PO BOX 27264
RALEIGH,NC27601 		NONE PC GENERAL SUPPORT 5,000

SECOND CHANCE PET ADOPTIONS

6003 CHAPEL HILL RD
RALEIGH,NC27607 		NONE PC GENERAL SUPPORT 2,500

SENIOR PHARMA-ASSIST

406 RIGSBEE AVE
DURHAM,NC27701 		NONE PC GENERAL SUPPORT 2,500

SMITHFIELD RESCUE MISSION

523 GLENN ST
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 5,000

SPCA OF WAKE CO

200 PETFINDER LN
RALEIGH,NC27527 		NONE PC GENERAL SUPPORT 10,000

SPOLETO FESTIVAL USA

14 GEORGE ST
CHARLESTON,SC29401 		NONE PC GENERAL SUPPORT 10,000

ST MARKS AME CHURCH

531 S ROXBORO ST
DURHAM,NC27701 		NONE PC GENERAL SUPPORT 3,000

ST PETERS CHURCH OF CHRIST

1011 MASSEY STREET
SMITHFIELD,NC27577 		NONE PC GENERAL SUPPORT 1,000

ST ANDREW'S SCHOOL

227 SOUTH CHERRY STREET
RICHMOND,VA23220 		NONE PC GENERAL SUPPORT 3,000

ST ANN'S CATHOLIC CHURCH

4057 US 70 BUS
CLAYTON,NC27520 		NONE PC GENERAL SUPPORT 2,500

ST MARY'S SCHOOL

900 HILLSBOROUGH ST
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 5,000

STEP UP MINISTRY

1701 OBERLIN ROAD
RALEIGH,NC27608 		NONE PC GENERAL SUPPORT 10,000

SYLVAN HEIGHTS BIRD PARK

500 SYLVAN HEIGHTS PARK WAY
SCOTLAND NECK,NC27874 		NONE PC GENERAL SUPPORT 10,000

THE ASHEVILLE SCHOOL

360 ASHEVILLE SCHOOL ROAD
ASHEVILLE,NC28806 		NONE PC SCHOLARSHIP 12,000

THE BROAD STREET CLINIC

534 N 35TH ST K
MOREHEAD CITY,NC28557 		NONE PC GENERAL SUPPORT 1,500

THE HOPE CENTER AT PULLEN

1801 HILLSBOROUGH ST
RALEIGH,NC27605 		NONE PC GENERAL SUPPORT 2,000

THE NORTH CAROLINIAN SOCIETY

PO BOX 200632
RALEIGH,NC27619 		NONE PC GENERAL SUPPORT 2,500

THE SALVATION ARMY

PO BOX 27584
RALEIGH,NC27611 		NONE PC GENERAL SUPPORT 5,000

TRIANGLE FELLOWSHIP OF CHRISTIAN ATHLETES

6511 CREEDMOOR ROAD SUITE 206
RALEIGH,NC27613 		NONE PC GENERAL SUPPORT 20,000

TRIANGLE LAND CONSERVANCY

514 S DUKE ST
DURHAM,NC27701 		NONE PC GENERAL SUPPORT 12,500

TRIANGLE YOUTH MUSIC PHILHARMONIC ASSC

410 GLENWOOD AVE SUITE 170
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 1,000

TRYON PALACE COUNCIL OF FRIENDS

529 SOUTH FRONT STREET
NEW BERN,NC28562 		NONE PC GENERAL SUPPORT 5,000

TRYON PALACE FOUNDATION

PO BOX 1007
NEW BERN,NC28563 		NONE PC GENERAL SUPPORT 2,500

UNC INSTITUTE FOR THE ENVIRONMENT

137 E FRANKLIN ST SUITE 602
CHAPEL HILL,NC27599 		NONE PC GENERAL SUPPORT 36,250

UNC SCHOOL OF LAW

160 RIDGE ROAD
CHAPEL HILL,NC27514 		NONE PC GENERAL SUPPORT 5,000

UNITED CHURCH OF CHAPEL HILL

1321 MARTIN LUTHER KING BLVD
CHAPEL HILL,NC27514 		NONE PC GENERAL SUPPORT 1,000

UNIVERSITY OF NC AT CHAPEL HILL

UNC CHAPEL HILL
CHAPEL HILL,NC27599 		NONE PC GENERAL SUPPORT 5,000

URBAN MINISTRIES OF WAKE COUNTY

1390 CAPITAL BLVD
RALEIGH,NC27603 		NONE PC GENERAL SUPPORT 5,000

VISION TO LEARN

12100 WILSHIRE BLVD STE 1275
LOS ANGELES,CA90025 		NONE PC GENERAL SUPPORT 2,500

WAKE FOREST ATHLETICS

1834 WAKE FOREST ROAD
WINSTON SALEM,NC27109 		NONE PC GENERAL SUPPORT 10,000

WAKE FOREST PARENTS' COUNCIL

1834 WAKE FOREST ROAD
WINSTON SALEM,NC27106 		NONE PC GENERAL SUPPORT 10,000

WAKE FOREST UNIVERSITY

1834 WAKE FOREST ROAD
WINSTON SALEM,NC27106 		NONE PC GENERAL SUPPORT 95,000

WCPE

BOX 897
WAKE FOREST,NC27588 		NONE PC GENERAL SUPPORT 2,000

WHITE MEMORIAL PRESBYTERIAN CHURCH

1704 OBERLIN RD
RALEIGH,NC27608 		NONE PC GENERAL SUPPORT 5,000

WILSON'S MILLS FIRE DEPARTMENT

145 FIRE DEPT RD
CLAYTON,NC27527 		NONE PC GENERAL SUPPORT 1,000

WOODBURY FOREST SCHOOL

898 WOODBURY FOREST ROAD
WOODBURY FOREST,VA22989 		NONE PC GENERAL SUPPORT 20,000

YMCA OF THE TRIANGLE AREA INC

801 CORPORATE CENTER DR 200
RALEIGH,NC27607 		NONE PC GENERAL SUPPORT 47,000
Total .................................right arrow 3a 1,017,500
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 ........... 		         
4 Dividends and interest from securities ....     14 507,571  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 693,650  
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 1,201,221 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,201,221
(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
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
 
Employer identification number

56-2002528
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

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

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

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

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
  		Employer identification number
56-2002528
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
ELLA & FRANK HOLDING CLAT
 
1723 CANTERBURY ROAD
 
RALEIGH, NC27608

$ 313,919


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
  		Employer identification number

56-2002528
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
  		Employer identification number

56-2002528
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
THOMAS JUDY & TUCKER 3,200 1,600   1,600

TY 2024 InvestmentsCorpBondsSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Name of Bond End of Year Book Value End of Year Fair Market Value
100,000 UTS IUS CAPITAL FUNDING II 101,000 92,338
100,000 UTS MMCAPS FDG I LTD 9.48% 17,163 5,716
100,000 UTS US CAPITAL FUNDING III 99,544 69,130
200,000 UTS CAROLINA FINANCIAL CORP 120,000 108,304
200,000 UTS MMCAPS FDG I LTD MEZZANINE 19,197 11,431
200,000 UTS PREFERRED TERM SECS LTD 13,700 14,439
200,000 UTS TRUIST FINL CORP 198,927 198,916
200,000 UTS US CAPITAL FUNDING I 200,000 94,217
250,000 UTS TPREF FUNDING I 262,831 25
300,000 UTS TPREF FUNDING III 250,000 127,015

TY 2024 InvestmentsCorpStockSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Name of Stock End of Year Book Value End of Year Fair Market Value
1,000 SHS PROCTER & GAMBLE 148,484 167,650
1,140 SHS FIRST CITIZENS BANK SC/FCNC CL A 198,036 2,408,843
1,350 SHS MERCK 100,464 149,220
1,500 SHS PHILLIPS 66 109,164 170,895
1,891 SHS FIRST CITIZENS BANK CL A 252,236 4,031,634
10,000 SHS REGIONS FINL CORP 249,500 242,400
10,000 SHS SYNOVUS FINL CORP 247,500 259,500
1000 SHS ABBVIE 124,088 177,700
2,000 SHS MONDELEZ (FROM KRAFT SPLIT) 77,895 119,460
200 SHS FIRST CITIZENS BANK CL A 35,913 386,691
200 SHS FIRST CITIZENS BANK CL B 32,300 349,000
250,000 UTS WACCAMAW STATE TRUST 250,000 250,000
3,000 SHS DUKE ENERGY CORP NEW COM 242,185 323,220
3M CO COM 252 SHS 23,213 32,531
4000 SHS ASTORIA FINANCIAL - STERLING BANKCORP 100,000 89,080
ACCENTURE PLC CLASS A 101 SHS 31,855 35,531
ALLSTATE CORP 168 SHS 19,429 32,389
APPLE INC 1200 SHARES 161,365 300,504
ARTISAN INTERNATION SMALL-MID FUND 8804 SHS 145,730 153,181
AUTOMATIC DATA PROCESSING INC 100 SHARES 16,754 29,273
BANK OF AMERICA CORP 3000 SHS 75,325 131,850
BANK OF AMERICA CORP 879 SHS 26,756 38,632
BERKSHIRE HATHWAY INC 171 SHARES 39,033 77,511
BERKSHIRE HATHWAY INC 200 SHS 67,707 90,656
BEST BUY INC 210 SHS 14,034 18,018
BRISTOL MYERS SQUIBB 690 SHS 35,549 39,026
CATERPILLAR INC 900 SHS 222,900 326,484
CBRE GROUP INC CL A 262 SHS 18,213 34,398
CHEVRON CORP 201 SHARES 30,086 29,113
CIGNA CORP NEW USD 95 SHS 27,490 26,233
CISCO SYSTEMS INC 946 SHS 45,228 56,003
CME GROUP INC 143 SHS 25,545 33,209
COCA COLA COMPANY 3000 SHS 188,585 186,780
COMERICA INC 1000 SHARES 53,804 61,850
CONSTELLATION ENERGY CORP COM 122 SHS 13,432 27,293
COSTCO WHSL CORP NEW 35 SHS 13,892 32,069
DARDEN RESTAURANTS INC 138 SHS 15,767 25,763
DAVITA INC 175 SHARES 16,194 26,171
DISNEY WALT CO 161 SHS 15,593 17,927
DRIEHAUS EMERGING MKTS GROWTH FUND 7713 SHS 258,269 285,937
DUKE ENERGY CORPORATION 213 SHS 18,374 22,949
EASTMAN CHEM CO COM 277 SHS 23,396 25,296
EATON CORPORATION 87 SHS 12,502 28,873
ELECTRONIC ARTS INC 99 SHS 11,236 14,484
ELEVANCE HEALTH INC 77 SHS 35,818 28,405
EXXON MOBIL CORP 674 SHS 69,091 72,502
FCB BANCSHARES INC 20,000 SHS 500,000 445,600
FEDEX CORP 75 SHS 11,752 21,100
FIFTH THIRD BANCORP 12045 SHS 12,045 20,125
GE HEALTHCARE TECHNOLOGIES 307 SHS 20,770 24,001
GOLDMAN SACHS EMERGING MARKETS EQUITY INSIGHTS FUND 54375 SHS 469,591 468,165
GOLDMAN SACHS GROUP INC 39 SHS 12,881 22,332
HARTFORD FINL SVCS GROUP INC 287 SHS 19,714 31,398
HCA HEALTHCARE INC 84 SHARES 22,561 25,213
HOME DEPOT INC 138 SHS 42,798 53,681
HOME DEPOT INC 300 SHARES 86,932 116,697
HONEYWELL INTERNATIONAL INC 105 SHS 21,252 23,718
HOTCHKIS & WILEY SMALL CAP DIVERSIFIED VALUE FUND 12021 SHS 154,891 148,104
HP INC 654 SHS 15,623 21,340
INTERCONTINENAL EXCHANGE INC COM 235 SHS 25,256 35,017
INTERNATIONAL BUSINESS MACHS CORP 190 SHS 25,415 41,768
ISHARES RUSSELL MID CAP VALUE 8082 SHS 884,180 1,045,326
ISHARES RUSSELL MID-CAP GROWTH ETF 5536 SHS 529,457 701,688
ISHARES RUSSELL TOP 200 GROWTH ETF 19239 SHS 2,728,124 4,526,360
ISHARES TR CORE MSCI EAFE ETF 19597 SHS 1,333,667 1,377,277
JOHNSON & JOHNSON 334 SHS 49,518 48,303
JOHNSON & JOHNSON 500 SHS 63,952 72,310
JOHNSON CTLS INTL PLC 317 SHS 14,393 25,021
JP MORGAN CHASE & CO 272 SHS 38,050 65,201
JP MORGAN CHASE 2000 SHS 253,894 479,420
JUNIPER NETWORKS INC 573 SHS 15,317 21,459
KIMCO REALTY CORP 891 SHS 14,727 20,876
KINDER MORGAN INC 875 SHARES 15,036 23,975
MARATHON PETE CORP 158 SHS 19,689 22,041
MCDONALDS CORP 100 SHARES 21,049 28,989
MEDTRONIC PLC 198 SHS 15,053 15,816
MFS INTERNATIONAL EQUITY FUND 20150 SHS 645,850 681,472
MICROSOFT CORP 600 SHARES 159,862 252,900
MONDELEZ INTERNATIONAL INC 355 SHS 21,444 21,204
MORGAN STANLEY COM 186 SHS 14,168 23,384
PAYCHEX INC 179 SHS 18,288 25,099
PEAR TREE POLARIS FGN VAL SM CAP 14925 SHS 155,338 155,812
PENTAIR PLC 269 SHS 14,355 27,072
PEPSICO 1200 SHS 193,591 182,472
PFIZER INC 1000 SHARES 91,622 79,590
PHILIP MORRIS INTL 353 SHS 33,801 42,484
PNC FINL SVCS GROUP 1000 SHS 136,284 192,850
PRICE T ROWE GROUP INC COM 171 SHS 18,498 19,338
PROCTER & GAMBLE COMPANY 315 SHS 41,390 52,810
REGIONS FINANCIAL CORP 1024 SHS 19,814 24,084
ROYAL BK CDA MONTREAL 1000 SHS 99,054 120,510
SNAP-ON TOOLS CORP 76 SHS 17,837 25,800
SOUTHERN CO COM 437 SHS 30,432 35,974
TE CONNECTIVITY LIMITED 327 SHS 42,609 46,751
THRIVENT SMALL CAP STOCK FUND 4539 SHS 134,622 146,382
TRANSAMERICA INTL EQUITY FUND 33618 SHS 689,091 681,450
UNION PAC CORP 200 SHARES 39,672 45,608
UNITEDHEALTH GROUP INC 109 SHS 56,214 55,139
UNITEDHEALTH GROUP INC 300 SHARES 116,829 151,758
VANGUARD SCOTTSDALE FDS VNG 1673 SHS 127,048 149,449
WALMART INC 582 SHS 24,070 52,584
WALMART INC 400 SHARES 55,738 108,420
WASTE MGMT INC 400 SHARES 54,278 80,716
WILLIAM BLAIR SMALL CAP GROWTH FUND 4432 SHS 139,906 156,672
ZIONS BANCORPORATION 3000 SHS 114,804 162,750
AT&T INC COM 687 SHS 10,852 15,438
ABBVIE INC COM 153 SHS 26,405 27,188
AMAZON.COM INC COM 399 SHS 89,609 87,537
APPLE INC 792 SHS 201,430 198,333
CH ROBINSON WORLDWIDE INC COM NEW 134 SHS 11,611 13,845
COMCAST CORP CL A 484 SHS 18,431 18,165
DOW INC COM 552 SHS 31,240 22,152
MICROSOFT CORP 335 SHARES 145,457 141,203
MOSAIC CO NEW COM 1155 SHS 31,426 28,390
THERMO FISHER CORP COM 46 SHS 24,744 23,931
ARGA EMERGING MARKETS VALUE FUND INS 18014 SHS 201,933 183,199

TY 2024 LegalFeesSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
WARD & SMITH 350 175   175


TY 2024 OtherAssetsSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DIVIDENDS RECEIVABLE 10,225 3,184 3,184


TY 2024 OtherExpensesSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OFFICE EXPENSE 17,417 0   0
INVESTMENT FEES 70,064 70,064   0
BANK FEES 264 0   0


TY 2024 TaxesSchedule
Name:
ELLA ANN L AND FRANK B HOLDING FOUNDATIO
EIN:
56-2002528
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FOREIGN TAXES 13,234 13,234   0