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PATRICK BEAVER SCHOLARSHIP FOUNDATION INC: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
PATRICK BEAVER SCHOLARSHIP FOUNDATION INC (EIN 56-2048446)
Tax period
2021-09-01 to 2022-08-31
Filed
2023-01-13
IRS object ID
202340139349100514
Schema version
2021v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-01-13T11:02:55-06:00ReturnTs
Tax Period End2022-08-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN561761202PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MARTIN STARNES & ASSOCIATES CPAS PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1730 13TH AVENUE DR SEAddressLine1Txt
CityHICKORYCityNm
State AbbreviationNCStateAbbreviationCd
ZIP286025196ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-09-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN562048446EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1PATRICK BEAVER SCHOLARSHIP FOUNDATIONBusinessNameLine1Txt
Business Name Line2INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlPATRBusinessNameControlTxt
Phone8283250655PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line12425 NORTH CENTER STREET 362AddressLine1Txt
CityHICKORYCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28601ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonANGELA B SIMMONSPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone8283250655PhoneNum
Signature2023-01-12SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstANGELAPersonFirstNm
Person LastSIMMONSPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLORRIE S EATON CPAPreparerPersonNm
PTINP00787878PTIN
Phone8283272727PhoneNum
Preparation2023-01-12PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer3TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2023-03-07 01:45:13ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,171,806FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$49,850DividendsRevAndExpnssAmt
Dividends Net Invst Incm$49,850DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$147,408NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$844,937GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$147,408CapGainNetIncmNetInvstIncmAmt
Incm Modifications Adj Net Incm$1,500IncmModificationsAdjNetIncmAmt
Other Income Rev And Expnss$1,834OtherIncomeRevAndExpnssAmt
Other Income Net Invst Incm$1,834OtherIncomeNetInvstIncmAmt
Total Rev And Expnss$199,092TotalRevAndExpnssAmt
Total Net Invst Incm$199,092TotalNetInvstIncmAmt
Total Adj Net Incm$1,500TotalAdjNetIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Other Prof Fees Rev And Expnss$11,856OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$0OtherProfFeesNetInvstIncmAmt
Other Prof Fees Dsbrs Chrtbl$11,856OtherProfFeesDsbrsChrtblAmt
Taxes Rev And Expnss$6,778TaxesRevAndExpnssAmt
Taxes Net Invst Incm$222TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$1,750TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$533OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$33OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$500OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$19,167TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$255TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$14,106TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$85,010ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$85,010ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$104,177TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$255TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$99,116TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$94,915ExcessRevenueOverExpensesAmt
Net Investment Income$198,837NetInvestmentIncomeAmt
Adjusted Net Income$1,500AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$97,525SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$41,915SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$41,915SavAndTempCashInvstEOYFMVAmt
Acct Rcvbl BOY$1,888AcctRcvblBOYAmt
US Government Obligations BOY$0USGovernmentObligationsBOYAmt
US Government Obligations EOY$249,282USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$248,979USGovtObligationsEOYFMVAmt
Corporate Stock BOY$766,364CorporateStockBOYAmt
Corporate Stock EOY$658,347CorporateStockEOYAmt
Corporate Stock EOYFMV$1,412,032CorporateStockEOYFMVAmt
Corporate Bonds BOY$484,539CorporateBondsBOYAmt
Corporate Bonds EOY$495,687CorporateBondsEOYAmt
Corporate Bonds EOYFMV$468,880CorporateBondsEOYFMVAmt
Total Assets BOY$1,350,316TotalAssetsBOYAmt
Total Assets EOY$1,445,231TotalAssetsEOYAmt
Total Assets EOYFMV$2,171,806TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$0CapitalStockBOYAmt
Capital Stock EOY$0CapitalStockEOYAmt
Additional Paid In Capital BOY$0AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$0AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$1,350,316RetainedEarningBOYAmt
Retained Earning EOY$1,445,231RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$1,350,316TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$1,445,231TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$1,350,316TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$1,445,231TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$1,350,316TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$94,915ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$1,445,231SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$1,445,231TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp

FieldValueIRS element (for citing)
PropertyPUBLICLY TRADED SECURITIESPropertyDesc
Gross Sales Price$844,937GrossSalesPriceAmt
Cost Or Other Basis$697,529CostOrOtherBasisAmt
Gain Or Loss$147,408GainOrLossAmt
Gains Minus Excess Or Losses$147,408GainsMinusExcessOrLossesAmt
FieldValueIRS element (for citing)
Capital Gain Net Income$147,408CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2,764InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$2,764SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$2,764TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,040EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$2,040TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Tax Due$724TaxDueAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateNCOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksABS LEGACY PARTNERSIndividualWithBooksNm
Phone8283250655PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line12425 NORTH CENTER STREET 362AddressLine1Txt
CityHICKORYCityNm
State AbbreviationNCStateAbbreviationCd
ZIP28601ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnYes (1)FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnYes (1)PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Acts Fail To Qlfy As Exceptions0ActsFailToQlfyAsExceptionsInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Transactions Fail To Qlfy As Exc0TransactionsFailToQlfyAsExcInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (7 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
TONI W ALEXANDER
2425 NORTH CENTER STREET 362HICKORYNC28601PRESIDENT1.00$0$0$0
JEFFREY W BEHMER
2425 NORTH CENTER STREET 362HICKORYNC28601TREASURER1.00$0$0$0
ANGELA B SIMMONS
2425 NORTH CENTER STREET 362HICKORYNC28601SECRETARY1.00$0$0$0
DEBORAH B LOOPER
2425 NORTH CENTER STREET 362HICKORYNC28601VICE PRESIDENT1.00$0$0$0
DONNA B MALONE
2425 NORTH CENTER STREET 362HICKORYNC28601DIRECTOR1.00$0$0$0
GRACE B SIMMONS
2425 NORTH CENTER STREET 362HICKORYNC28601DIRECTOR1.00$0$0$0
PATRICIA A ANDERSON
2425 NORTH CENTER STREET 362HICKORYNC28601DIRECTOR1.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$2,298,430AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$50,146AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$2,348,576TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$2,348,576AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$35,229CashDeemedCharitableAmt
Net Vl Noncharitable Assets$2,313,347NetVlNoncharitableAssetsAmt
Minimum Investment Return$115,667MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$115,667MinimumInvestmentReturnAmt
Tax Based On Investment Income$2,764TaxBasedOnInvestmentIncomeAmt
Total Tax$2,764TotalTaxAmt
Distributable Before Adj$112,903DistributableBeforeAdjAmt
Recoveries Qualfied Distri$1,500RecoveriesQualfiedDistriAmt
Distributable Before Ded$114,403DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$114,403DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$99,116ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$99,116QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$114,403DistributableAsAdjustedAmt
Undistributed Income PY$97,572UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Total Excess Distribution Cyov$0TotalExcessDistributionCyovAmt
Qualifying Distributions$99,116QualifyingDistributionsAmt
Applied To Year1$97,572AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$1,544AppliedToCurrentYearAmt
Remaining Distri From Corpus$0RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$0TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$112,859UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$0ExcessDistriCyovToNextYrAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (34 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
L NEGRETE-PEREZ APPALACHIAN STATE UNIVERSITY
BOX 32059BOONENC28608NONESCHOLARSHIP GRANT$3,000
P FURR APPALACHIAN STATE UNIVERSITY
BOX 32059BOONENC28608NONESCHOLARSHIP GRANT$1,500
S LINGLE APPALACHIAN STATE UNIVERSITY
BOX 32059BOONENC28608NONESCHOLARSHIP GRANT$1,500
E GRIFFITH CAMPBELL UNIVERSITY
PO BOX 97BUIES CREEKNC27506NONESCHOLARSHIP GRANT$3,000
S ISENHOUR CATAWBA VALLEY COMMUNITY COLLEGE
2550 HIGHWAY 70 SEHICKORYNC28602NONESCHOLARSHIP GRANT$3,000
S GUTIERREZ CATAWBA VALLEY COMMUNITY COLLEGE
2550 HIGHWAY 70 SEHICKORYNC28602NONESCHOLARSHIP GRANT$3,260
M CULPEPPER DUKE UNIVERSITY
BOX 3715DURHAMNC27708NONESCHOLARSHIP GRANT$1,500
N HEATH EAST TENNESSEE STATE UNIVERSITY
PO BOX 70731JOHNSON CITYTN37614NONESCHOLARSHIP GRANT$1,500
L SIGMON ELON UNIVERSITY
100 CAMPUS DRELONNC27244NONESCHOLARSHIP GRANT$1,500
W STEWART GARDNER-WEBB UNIVERSITY
UNIVERSITY CENTERBOILING SPRINGSNC28017NONESCHOLARSHIP GRANT$3,000
J DUNCAN HIGH POINT UNIVERSITY
833 MONTLIEU AVENUEHIGH POINTNC27262NONESCHOLARSHIP GRANT$1,500
C MCCREA JOHNS HOPKINS UNIVERSITY
3400 N CHARLES STREETBALITMOREMD21218NONESCHOLARSHIP GRANT$3,000
I HEARD LENOIR-RHYNE UNIVERSITY
PO BOX 7246HICKORYNC28603NONESCHOLARSHIP GRANT$2,250
A CONNOLLY LIBERTY UNIVERSITY
PO BOX 10425LYNCHBURHVA24506NONESCHOLARSHIP GRANT$3,000
C ARNEY NORTH CAROLINA STATE UNIVERSITY
CAMPUS BOX 7302RALEIGHNC27695NONESCHOLARSHIP GRANT$3,000
C SHEPLER NORTH CAROLINA STATE UNIVERSITY
CAMPUS BOX 7302RALEIGHNC27695NONESCHOLARSHIP GRANT$3,000
M BUFF NORTH CAROLINA STATE UNIVERSITY
CAMPUS BOX 7302RALEIGHNC27695NONESCHOLARSHIP GRANT$3,000
M CONNOR NORTH CAROLINA STATE UNIVERSITY
CAMPUS BOX 7302RALEIGHNC27695NONESCHOLARSHIP GRANT$3,000
S HEATH NORTH CAROLINA STATE UNIVERSITY
CAMPUS BOX 7302RALEIGHNC27695NONESCHOLARSHIP GRANT$3,000
E MAGGIO UNC-WILMINGTON
601 S COLLEGE RDWILMINGTONNC28403NONESCHOLARSHIP GRANT$1,500
C XIONG UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$1,500
E WILLIAMS UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
E JARRETT UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
M MIDEA UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
M FAIRCHILD UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
M HAMBY UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
N BYLES UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
R HODAKOWSKI UNC-CHAPEL HILL
450 RIDGEROAD CB 1400CHAPEL HILLNC27599NONESCHOLARSHIP GRANT$3,000
A HAGER UNC-CHARLOTTE
9201 UNIVERSITY CITY BLVDCHARLOTTENC28223NONESCHOLARSHIP GRANT$3,000
B TEPPER UNC-CHARLOTTE
9201 UNIVERSITY CITY BLVDCHARLOTTENC28223NONESCHOLARSHIP GRANT$3,000
C COOK UNIVERSITY OF MIAMI
1320 S DIXIE HWYCORAL GABLESFL33146NONESCHOLARSHIP GRANT$3,000
G PROPST UNIVERSITY OF TENNESSEE
1331 CIRCLE PARKKNOXVILLETN37996NONESCHOLARSHIP GRANT$1,500
G PROPST WAKE TECHNICAL COMMUNITY COLLEGE
9101 FAYETTEVILLE RDRALEIGHNC27603NONESCHOLARSHIP GRANT$1,500
D SMITH WESTERN CAROLINA UNIVERSITY
KILLIAN ANNEXCULLOWHEENC28723NONESCHOLARSHIP GRANT$1,500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$85,010TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$49,850ExclusionAmt

Other Investment Income OtherInvestmentIncomeGrp

FieldValueIRS element (for citing)
Exclusion01ExclusionCd
Exclusion$1,834ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$147,408ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$199,092ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$199,092TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Compensation Explanation CompensationExplanation

Compensation Explanation CompensationExplanationGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ANGELA B SIMMONSBusinessNameLine1Txt
FieldValueIRS element (for citing)
Short Explanation*ABS LEGACY PARTNERS, A FIRM OWNED BY AN OFFICER OF THE PATRICK BEAVER SCHOLARSHIP FOUNDATION ("THE FOUNDATION") WAS COMPENSATED BY THE FOUNDATION TO PROVIDE MANAGEMENT SERVICES. THIS COMPENSATION IS REPORTED ON PART I, LINE 16C TO BE CONSISTENT WITH THE CHARACTER OF THE EXPENSE. THE FIRM BILLED THE FOUNDATION AT OR BELOW MARKET RATESShortExplanationTxt

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (11 entries)

BondBondNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
CITIGROUP INC PERP-B NT - 5.900%$25,687$24,750
CVS HEALTH CORP - 2.625%$49,930$48,810
GLOBAL PAYMENTS - 2.650%$52,570$47,691
ICAHN ENTERPRISE 4.750%$52,125$47,438
JPMORGAN CHASE & CO - 5.150%$25,200$24,000
ONEOK INC - 7.500%$55,263$51,050
SPECTRA ENERGY - 3.500%$53,542$48,904
SPRINT CORP - 7.125%$53,680$51,625
STARBUCKS CORP - 3.100%$52,313$49,781
U.S. BANCORP - 3.700%$51,187$49,958
VODAFONE GROUP NOTE - 2.950%$24,190$24,873

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (32 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ABBOTT LABS$10,315$30,795
ACCENTURE PLC$9,756$28,846
ALPHABET INC CL C$17,800$98,235
AMAZON COM$13,848$38,031
ANHEUSER BUSCH INBEV S F$17,577$14,508
APPLE INC$10,851$125,776
BANK OF AMERICA CORP$13,931$33,610
BECTON DICKINSON & CO$18,780$37,863
BECTON DICKINSON AND CO PRF 6.00%$26,407$25,250
BERKSHIRE HATHAWAY INC. CLASS B$19,253$112,320
CHARLES SCHWAB CORP$24,655$42,570
CHEVRON CORP$31,566$63,224
COMCAST CORP$40,299$32,571
COSTCO WHOLESALE CORPORATION$19,101$41,768
EXPEDITORS INTL WASH INC$44,250$61,734
KINDER MORGAN INC$12,538$14,656
LOCKHEED MARTIN CORP$25,272$31,508
MCDONALD'S CORP$5,458$25,228
MICROSOFT CORP$8,278$104,588
NESTLE S.A$2,704$17,559
NIKE INC-CL B$12,192$31,935
NOVO NORDISK A S$25,638$42,440
PEPSICO INC$17,232$51,681
SIMON PPTY GROUP INC$36,011$40,792
STARBUCKS CORP COM$27,978$42,035
UNILEVER N V N Y$11,988$13,617
VANGUARD HEALTH CARE ETF$39,693$69,468
VERIZON COMMUNICATIONS$52,153$41,810
VISA INC$19,814$19,871
WAL-MART STORES INC$10,215$26,510
WALT DISNEY HOLDINGS CO$19,777$39,228
WELLS FARGO PFD NON-CUM - 5.85$13,017$12,005

Investments Govt Obligations Sch InvestmentsGovtObligationsSch

FieldValueIRS element (for citing)
US Govt Obligations Book Vl EOY$249,282USGovtObligationsBookVlEOYAmt
US Govt Obligations EOYFMV$248,979USGovtObligationsEOYFMVAmt
State Local Sec Book Vl EOY$0StateLocalSecBookVlEOYAmt
State Local Sec EOYFMV$0StateLocalSecEOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
BANK & CUSTODY FEES$33$33$0
ANNUAL LUNCHEON$500$0$500

Other Income Schedule2 OtherIncomeSchedule2

Other Income Detail OtherIncomeDetail

FieldValueIRS element (for citing)
DescREFUND OF EXPENSESDesc
Revenue And Expenses Per Books$1,834RevenueAndExpensesPerBooksAmt
Net Investment Income$1,834NetInvestmentIncomeAmt
Adjusted Net Income$1,834AdjustedNetIncomeAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryADMINISTRATION OF FOUNDATIONCategoryTxt
Amt$11,856Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$11,856DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
990-PF ESTIMATED TAX 2020-2021$3,056$0$0
FOREIGN TAXES$222$222$0
990-PF TAX COMPLIANCE$3,500$0$1,750

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