PATRICK BEAVER SCHOLARSHIP FOUNDATION INC: Form 990PF, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- PATRICK BEAVER SCHOLARSHIP FOUNDATION INC (EIN 56-2048446)
- Tax period
- 2020-09-01 to 2021-08-31
- Filed
- 2021-11-12
- IRS object ID
- 202113169349100411
- Schema version
- 2020v4.1
- 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
- Form 990-PF
- Compensation Explanation
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Other Decreases Schedule
- Other Expenses Schedule
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-11-12T07:10:22-06:00 | ReturnTs |
| Tax Period End | 2021-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 561761202 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARTIN STARNES & ASSOCIATES CPAS PA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 730 13TH AVENUE DR SE | AddressLine1Txt |
| City | HICKORY | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 286025196 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2020-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562048446 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PATRICK BEAVER SCHOLARSHIP FOUNDATION | BusinessNameLine1Txt |
| Business Name Line2 | INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PATR | BusinessNameControlTxt |
| Phone | 8283250655 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2425 NORTH CENTER STREET NO 362 | AddressLine1Txt |
| City | HICKORY | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28601 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANGELA B SIMMONS | PersonNm |
| Person Title | SECRETARY | PersonTitleTxt |
| Phone | 8283250655 | PhoneNum |
| Signature | 2021-11-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ANGELA | PersonFirstNm |
| Person Last | SIMMONS | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LORRIE S EATON CPA | PreparerPersonNm |
| PTIN | P00787878 | PTIN |
| Phone | 8283272727 | PhoneNum |
| Preparation | 2021-11-11 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 0 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $2,467,379 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Dividends Rev And Expnss | $45,965 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $45,965 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $100,218 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $528,822 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $100,218 | CapGainNetIncmNetInvstIncmAmt |
| Incm Modifications Adj Net Incm | $1,500 | IncmModificationsAdjNetIncmAmt |
| Total Rev And Expnss | $146,183 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $146,183 | TotalNetInvstIncmAmt |
| Total Adj Net Incm | $1,500 | TotalAdjNetIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $0 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $0 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $0 | CompOfcrDirTrstDsbrsChrtblAmt |
| Other Prof Fees Rev And Expnss | $14,861 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $1,249 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $13,612 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $573 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $173 | TaxesNetInvstIncmAmt |
| Taxes Dsbrs Chrtbl | $0 | TaxesDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $8,392 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $28 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $8,364 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $23,826 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $1,450 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $21,976 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $68,900 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $68,900 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $92,726 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $1,450 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $90,876 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $53,457 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $144,733 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $1,500 | AdjustedNetIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $67,295 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $97,525 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $97,525 | SavAndTempCashInvstEOYFMVAmt |
| Acct Rcvbl | $1,888 | AcctRcvblAmt |
| Acct Rcvbl BOY | $873 | AcctRcvblBOYAmt |
| Acct Rcvbl EOY | $1,888 | AcctRcvblEOYAmt |
| Acct Rcvbl EOYFMV | $1,888 | AcctRcvblEOYFMVAmt |
| Corporate Stock BOY | $675,726 | CorporateStockBOYAmt |
| Corporate Stock EOY | $766,364 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $1,888,260 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $589,575 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $484,539 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $479,706 | CorporateBondsEOYFMVAmt |
| Total Assets BOY | $1,333,469 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,350,316 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $2,467,379 | TotalAssetsEOYFMVAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
| Capital Stock BOY | $0 | CapitalStockBOYAmt |
| Capital Stock EOY | $0 | CapitalStockEOYAmt |
| Additional Paid In Capital BOY | $0 | AdditionalPaidInCapitalBOYAmt |
| Additional Paid In Capital EOY | $0 | AdditionalPaidInCapitalEOYAmt |
| Retained Earning BOY | $1,333,469 | RetainedEarningBOYAmt |
| Retained Earning EOY | $1,350,316 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $1,333,469 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $1,350,316 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $1,333,469 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $1,350,316 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $1,333,469 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $53,457 | ExcessRevenueOverExpensesAmt |
| Other Increases | $0 | OtherIncreasesAmt |
| Subtotal | $1,386,926 | SubtotalAmt |
| Other Decreases | $36,610 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $1,350,316 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Property | PUBLICLY TRADED SECURITIES | PropertyDesc |
| Gross Sales Price | $528,822 | GrossSalesPriceAmt |
| Cost Or Other Basis | $428,604 | CostOrOtherBasisAmt |
| Gain Or Loss | $100,218 | GainOrLossAmt |
| Gains Minus Excess Or Losses | $100,218 | GainsMinusExcessOrLossesAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $100,218 | CapitalGainNetIncomeAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $2,012 | InvestmentIncomeExciseTaxAmt |
| Tax Under Section511 | $0 | TaxUnderSection511Amt |
| Subtotal | $2,012 | SubtotalAmt |
| Subtitle A Tax | $0 | SubtitleATaxAmt |
| Tax Based On Investment Income | $2,012 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $996 | EstimatedPlusOvpmtIncmTxAmt |
| Exempt Frgn Org Tax Wthld At Srce | $0 | ExemptFrgnOrgTaxWthldAtSrceAmt |
| Extsn Request Income Tax Paid | $0 | ExtsnRequestIncomeTaxPaidAmt |
| Backup Withholding Withheld | $0 | BackupWithholdingWithheldAmt |
| Total Payments And Credits | $996 | TotalPaymentsAndCreditsAmt |
| Es Penalty | $0 | EsPenaltyAmt |
| Tax Due | $1,016 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | 0 | LegislativePoliticalActyInd |
| More Than100 Spent | 0 | MoreThan100SpentInd |
| Form1120 POL Filed | 0 | Form1120POLFiledInd |
| Section4955 Organization Tax | $0 | Section4955OrganizationTaxAmt |
| Section4955 Managers Tax | $0 | Section4955ManagersTaxAmt |
| Tax Reimbursed | $0 | TaxReimbursedAmt |
| Activities Not Previously Rpt | 0 | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | 0 | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | 0 | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (1) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (1) | AtLeast5000InAssetsInd |
| Org Report Or Register State | NC | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (1) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | 0 | PrivateOperatingFoundationInd |
| New Substantial Contributors | 0 | NewSubstantialContributorsInd |
| Own Controlled Entity | 0 | OwnControlledEntityInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (1) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
| Individual With Books | ABS LEGACY PARTNERS | IndividualWithBooksNm |
| Phone | 8283250655 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2425 NORTH CENTER STREET 362 | AddressLine1Txt |
| City | HICKORY | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28601 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | 0 | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | 0 | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | 0 | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | Yes (1) | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (1) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | 0 | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | 0 | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | 0 | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | 0 | UncorrectedPriorActsInd |
| Undistributed Income PY | 0 | UndistributedIncomePYInd |
| Business Holdings | 0 | BusinessHoldingsInd |
| Jeopardy Investments | 0 | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | 0 | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | 0 | InfluenceLegislationInd |
| Influence Election | 0 | InfluenceElectionInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Noncharitable Purpose | 0 | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | 0 | TransactionsFailToQlfyAsExcInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| DONALD C BEAVER | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | PRESIDENT | 1.00 | $0 | $0 | $0 |
| PATRICIA A ANDERSON | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | TREASURER | 1.00 | $0 | $0 | $0 |
| ANGELA B SIMMONS | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | SECRETARY | 1.00 | $0 | $0 | $0 |
| DEBORAH B LOOPER | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | VICE PRESIDENT | 1.00 | $0 | $0 | $0 |
| DONNA B MALONE | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | DIRECTOR | 1.00 | $0 | $0 | $0 |
| TONI W ALEXANDER | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | DIRECTOR | 1.00 | $0 | $0 | $0 |
| JEFFREY W BEHMER | ||||||||
| 2425 NORTH CENTER STREET 362 | HICKORY | NC | 28601 | DIRECTOR | 1.00 | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Other Employee Paid Over50k | 0 | OtherEmployeePaidOver50kCnt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
| Contractor Paid Over50k | 0 | ContractorPaidOver50kCnt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $2,031,149 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $80,386 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $2,111,535 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Acquisition Indebtedness | $0 | AcquisitionIndebtednessAmt |
| Adjusted Total FMV Of Unused Ast | $2,111,535 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $31,673 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $2,079,862 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $103,993 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $103,993 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $2,012 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $2,012 | TotalTaxAmt |
| Distributable Before Adj | $101,981 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $1,500 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $103,481 | DistributableBeforeDedAmt |
| Deduction From Distributable | $0 | DeductionFromDistributableAmt |
| Distributable As Adjusted | $103,481 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $90,876 | ExpensesAndContributionsAmt |
| Program Related Invst Total | $0 | ProgramRelatedInvstTotalAmt |
| Qualifying Distributions | $90,876 | QualifyingDistributionsAmt |
| Pct Sect4940e Org Net Invst Incm | $0 | PctSect4940eOrgNetInvstIncmAmt |
| Adjusted Qualifying Distri | $90,876 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $103,481 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $84,967 | UndistributedIncomePYAmt |
| Prior Year1 | 2018 | PriorYear1Yr |
| Prior Year2 | 2017 | PriorYear2Yr |
| Prior Year3 | 2016 | PriorYear3Yr |
| Total For Prior Years | $0 | TotalForPriorYearsAmt |
| Total Excess Distribution Cyov | $0 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $90,876 | QualifyingDistributionsAmt |
| Applied To Year1 | $84,967 | AppliedToYear1Amt |
| Applied To Prior Years | $0 | AppliedToPriorYearsAmt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $5,909 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $0 | RemainingDistriFromCorpusAmt |
| Excess Distri Cyov App CY Corpus | $0 | ExcessDistriCyovAppCYCorpusAmt |
| Excess Distribution Cyov App CY | $0 | ExcessDistributionCyovAppCYAmt |
| Total Corpus | $0 | TotalCorpusAmt |
| Prior Year Undistributed Incm | $0 | PriorYearUndistributedIncmAmt |
| Prior Year Deficiency Or Tax | $0 | PriorYearDeficiencyOrTaxAmt |
| Taxable1 | $0 | Taxable1Amt |
| Taxable2 | $0 | Taxable2Amt |
| Undistributed Income CY | $97,572 | UndistributedIncomeCYAmt |
| Corpus Distri170b1 E Or4942g3 | $0 | CorpusDistri170b1EOr4942g3Amt |
| Excess Distri Cyov From Yr5 | $0 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $0 | ExcessDistriCyovToNextYrAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (34 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| M PARSONS AMHERST COLLEGE | ||||||
| PO BOX 5000 | AMHERST | MA | 01002 | NONE | SCHOLARSHIP GRANT | $1,100 |
| S CORRIHER APPALACHIAN STATE UNIVERSITY | ||||||
| BOX 32059 | BOONE | NC | 28608 | NONE | SCHOLARSHIP GRANT | $1,500 |
| L NEGRETE-PEREZ APPALACHIAN STATE UNIVERSITY | ||||||
| BOX 32059 | BOONE | NC | 28608 | NONE | SCHOLARSHIP GRANT | $3,000 |
| E GRIFFITH CAMPBELL UNIVERSITY | ||||||
| PO BOX 97 | BUIES CREEK | NC | 27506 | NONE | SCHOLARSHIP GRANT | $1,500 |
| S ISENHOUR CATAWBA VALLEY COMMUNITY COLLEGE | ||||||
| 2550 HIGHWAY 70 SE | HICKORY | NC | 28602 | NONE | SCHOLARSHIP GRANT | $1,800 |
| I HEARD CATAWBA VALLEY COMMUNITY COLLEGE | ||||||
| 2550 HIGHWAY 70 SE | HICKORY | NC | 28602 | NONE | SCHOLARSHIP GRANT | $1,500 |
| W STEWART GARDNER-WEBB UNIVERSITY | ||||||
| UNIVERSITY CENTER | BOILING SPRINGS | NC | 28017 | NONE | SCHOLARSHIP GRANT | $1,500 |
| J DUNCAN HIGH POINT UNIVERSITY | ||||||
| 1 UNIVERSITY PKWY | HIGH POINT | NC | 27262 | NONE | SCHOLARSHIP GRANT | $3,000 |
| C MCCREA JOHNS HOPKINS UNIVERSITY | ||||||
| 3400 N CHARLES STREET | BALTIMORE | MD | 21218 | NONE | SCHOLARSHIP GRANT | $3,000 |
| I HEARD LENOIR-RHYNE UNIVERSITY | ||||||
| PO BOX 7246 | HICKORY | NC | 28603 | NONE | SCHOLARSHIP GRANT | $1,500 |
| A CONNOLLY LIBERTY UNIVERSITY | ||||||
| PO BOX 10425 | LYNCHBURG | VA | 24506 | NONE | SCHOLARSHIP GRANT | $1,500 |
| A MAYNARD NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $2,250 |
| L SIGMON NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $3,000 |
| M CONNOR NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $3,000 |
| C SHELPLER NORTH CAROLINA STATE UNIVIERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $4,500 |
| S HEALTH NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $1,500 |
| C ARNEY NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $1,500 |
| M BUFF NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $1,500 |
| S GUTIERREZ NORTH CAROLINA STATE UNIVERSITY | ||||||
| CAMPUS BOX 7302 | RALEIGH | NC | 27695 | NONE | SCHOLARSHIP GRANT | $1,500 |
| M FAIRCHILD UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| N BYLES UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| M HAMBY UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $3,000 |
| R HODAKOWSKI UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| M MIDEA UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| E WILLIAMS UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| E JARRETT UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $3,000 |
| A HAGER UNC-CHARLOTTE | ||||||
| 9201 UNIVERSITY CITY BLVD | CHARLOTTE | NC | 28223 | NONE | SCHOLARSHIP GRANT | $3,000 |
| D CANADAY UNC-CHARLOTTE | ||||||
| 9201 UNIVERSITY CITY BLVD | CHARLOTTE | NC | 28223 | NONE | SCHOLARSHIP GRANT | $2,250 |
| B TEPPER UNC-CHARLOTTE | ||||||
| 9201 UNIVERSITY CITY BLVD | CHARLOTTE | NC | 28223 | NONE | SCHOLARSHIP GRANT | $1,500 |
| C COOK UNIVERSITY OF MIAMI | ||||||
| PO BOX 025551 | MIAMI | FL | 33102 | NONE | SCHOLARSHIP GRANT | $1,500 |
| J PURSEL UNC-CHAPEL HILL | ||||||
| 450 RIDGE ROAD CB1400 | CHAPEL HILL | NC | 27599 | NONE | SCHOLARSHIP GRANT | $1,500 |
| G PROPST UNIVERSITY OF TENNESSEE | ||||||
| 1331 CIRCLE PARK | KNOXVILLE | TN | 37996 | NONE | SCHOLARSHIP GRANT | $1,500 |
| H MILLER WESTERN CAROLINA UNIVERSITY | ||||||
| KILLIAN ANNEX | CULLOWHEE | NC | 28723 | NONE | SCHOLARSHIP GRANT | $1,500 |
| D SMITH WESTERN CAROLINA UNIVERSITY | ||||||
| KILLIAN ANNEX | CULLOWHEE | NC | 28723 | NONE | SCHOLARSHIP GRANT | $3,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $68,900 | TotalGrantOrContriPdDurYrAmt |
| Total Grant Or Contri Apprv Fut | $0 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $45,965 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $100,218 | ExclusionAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Unrelated Business Taxbl Incm | $0 | UnrelatedBusinessTaxblIncmAmt |
| Exclusion | $146,183 | ExclusionAmt |
| Related Or Exempt Function Incm | $0 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $146,183 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | 0 | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | 0 | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | 0 | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | 0 | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | 0 | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | 0 | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | 0 | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | 0 | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | 0 | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | 0 | RelationshipsNonchrtblEOInd |
Compensation Explanation CompensationExplanation
Compensation Explanation CompensationExplanationGrp
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANGELA B SIMMONS | BusinessNameLine1Txt |
| Field | Value | IRS 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 RATES | ShortExplanationTxt |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (13 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| AUTOZONE INC - 3.700% | $41,812 | $40,512 |
| CITIGROUP INC PERP-B NT - 5.900% | $25,687 | $26,250 |
| CONSTELLATION BRANDS INC - 3.200% | $31,565 | $31,100 |
| ICAHN ENTERPRISE 4.750% | $52,125 | $51,750 |
| JPMORGAN CHASE & CO - 5.150% | $25,200 | $25,844 |
| LUMEN TECHNOLOGIE - 5.800% | $30,992 | $30,675 |
| MOODYS CORP 4.500% | $32,228 | $30,933 |
| NVR INC - 3.950% | $62,729 | $61,723 |
| ONEOK INC - 4.250% | $41,664 | $40,238 |
| ONEOK INC - 7.500% | $22,550 | $22,275 |
| STARBUCKS CORP - 3.100% | $52,313 | $51,903 |
| T-MOBILE USA INC - 4.000% | $41,484 | $40,600 |
| VODAFONE GROUP NOTE - 2.950% | $24,190 | $25,903 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (39 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| ABBOTT LABS | $10,315 | $37,911 |
| ACCENTURE PLC | $9,756 | $33,656 |
| ALPHABET INC CL C | $36,619 | $232,739 |
| AMAZON COM | $13,848 | $52,062 |
| APPLE INC | $16,181 | $151,830 |
| BANK OF AMERICA CORP | $13,931 | $41,750 |
| BANK OF AMERICA CORP - 7.250% | $22,231 | $29,360 |
| BECTON DICKINSON & CO | $19,221 | $37,755 |
| BECTON DICKINSON AND CO PRF 6.00% | $26,407 | $27,325 |
| BERKSHIRE HATHAWAY INC. CLASS B | $19,253 | $114,308 |
| CHARLES SCHWAB CORP | $24,655 | $43,710 |
| CHEVRON CORP | $8,642 | $19,354 |
| COMCAST CORP | $40,299 | $54,612 |
| COSTCO WHOLESALE CORPORATION | $19,101 | $36,439 |
| EXPEDITORS INTL WASH INC | $44,250 | $74,784 |
| HOME DEPOT INC | $41,556 | $48,927 |
| ISHARES CORE MSCI EMERGING MAR | $32,178 | $44,863 |
| JOHNSON & JOHNSON | $21,224 | $25,970 |
| KINDER MORGAN INC | $13,065 | $13,016 |
| LOCKHEED MARTIN CORP | $25,272 | $26,985 |
| MCDONALD'S CORP | $5,458 | $23,746 |
| MEDTRONIC PLC | $11,350 | $20,022 |
| MICROSOFT CORP | $10,348 | $150,940 |
| NESTLE S.A | $2,704 | $18,944 |
| NIKE INC-CL B | $16,734 | $65,896 |
| NOVO NORDISK A S | $9,099 | $24,993 |
| PEPSICO INC | $17,232 | $46,917 |
| PROGRESSIVE CORP OHIO | $11,875 | $14,451 |
| SIMON PPTY GROUP INC | $11,999 | $23,529 |
| STARBUCKS CORP COM | $27,978 | $58,745 |
| UNILEVER N V N Y | $11,988 | $16,704 |
| VANGUARD HEALTH CARE ETF | $39,693 | $78,747 |
| VANGUARD SHORT TERM COR ETF | $41,359 | $41,350 |
| VANGUARD ULTRA SHORT BOND ETF | $10,020 | $10,030 |
| VERIZON COMMUNICATIONS | $17,700 | $16,500 |
| VISA INC | $19,814 | $22,910 |
| WAL-MART STORES INC | $10,215 | $29,620 |
| WALT DISNEY HOLDINGS CO | $19,777 | $63,455 |
| WELLS FARGO PFD NON-CUM - 5.85 | $13,017 | $13,405 |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BASIS ADJUSTMENT OF UNREALIZED POSITIONS | Desc |
| Amt | $36,610 | Amt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| BANK & CUSTODY FEES | $28 | $28 | $0 |
| FOUNDATION SOURCE ADMIN FEE | $6,752 | $0 | $6,752 |
| SCHOLARSHIP BANQUET DINNER | $1,612 | $0 | $1,612 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| ADMINISTRATION OF FOUNDATION | $13,612 | $0 | $13,612 |
| INVESTMENT MANAGEMENT SERVICES | $1,249 | $1,249 | $0 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| 990-PF ESTIMATED TAX 2020-2021 | $400 | $0 | $0 |
| FOREIGN TAXES | $173 | $173 | $0 |
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