2019-11-06T13:09:39-08:00 2016-12-31 Blazek & Vetterling 2900 Weslayan Suite 200 Houston TX 770275132 990PF 2016-01-01 561954114 John M Belk Endowment JOHN 7049434160 4201 Congress Street Charlotte NC 28209 Mary Claudia Belk Pilon Board Chair 2019-11-06 true Kurt Coburn P01638285 7134395739 2016 2020-03-31 21:24:44Z X X 314126306 X X 59086 59086 1566803 1566803 3446134 41525567 3446134 5004981 5004981 10077004 10077004 431754 43175 388579 343587 34359 309228 104144 10414 93730 1793 90 1703 10780 539 10241 707286 610198 97088 1035000 81109 212470 212470 81284 81284 930219 777883 152336 3939426 1476658 1346659 1900000 1900000 5839426 1476658 3246659 4237578 8600346 341035 96916 96916 134649918 374985 374985 98025154 32973943 36776207 36456783 32162087 32091195 41466994 41466994 23920000 41293224 208551932 220241244 746855 149468 671868 597387 597387 31163 28372 28372 311469145 316252616 314126306 6276 6313 6276 6313 X 311462869 316246303 311462869 316246303 311469145 316252616 311462869 4237578 545856 316246303 316246303 Publicly traded securities 27969963 28579433 -609470 -609470 Capital gain distributions 996536 996536 996536 Passthrough - 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2 2014-04-14 4239 1272 SL 5.0000 848 Architect fees - WIP 2014-12-31 10626 216 SL 39.0000 272 Laptop 2014-04-29 2957 887 SL 5.0000 591 Laptop 2 2014-09-17 3562 1069 SL 5.0000 712 Laptop 3 2014-08-22 2100 630 SL 5.0000 420 Computer 2016-07-13 6627 SL 5.0000 663 Printer 2016-01-01 573 306 SL 5.0000 115 Peripherals 2016-01-01 158603 17908 SL 5.0000 31721 Software 2016-01-01 62987 26007 SL 3.0000 20705 Warranties 2016-01-01 1269 1187 SL 3.0000 82 BBH Limited Duration Fund Cl I 8525000 8526463 Nextera Energy Notes 1.586% 976755 955563 United Technologies Corp 1.8% 06/01/2017 682306 681775 Aust & NZ Bank Grp Ny 1.875% 10/06/2017 958724 958820 Medtronic Inc Notes 1.5% 03/15/2018 702487 700014 Wal-Mart Stores Inc Nts 1.125% 04/11/18 701011 698369 John Deere Capital Corp 1.6% 07/13/2018 955563 954685 Western Union Co Notes MW 3.65% 08/22/18 974793 978378 Ares Capital Corp MW Nts 3.875% 01/15/20 961429 973411 FS Investment Corp Notes 4.25% 01/15/20 363874 367216 Select Income Reit MW Nts 3.6% 02/01/20 173618 175334 Microsoft Corp Notes 1.85% 02/12/20 707049 699552 AT&T Inc Notes 2.45% 06/30/2020 954513 948344 Caterpillar Financial Nts 2.5% 11/13/20 954150 955554 Burlingtn No Sf 99-2 Tr 7.57% 01/02/2021 202906 192717 Southern Cal Edison 1.845% 02/01/2022 165000 162314 Celgene Corp Notes 3.55% 08/15/2022 954467 979438 Abbvie Inc Notes 3.2% 11/06/2022 951440 955630 Anheuser-Busch Inbev Fin 2.625% 01/17/23 900014 882189 Healthcare Realty Trust Notes3.75% 04/23 935506 951581 Intl Business Mach Corp 3.625% 02/12/24 976073 994489 Gilead Sciences Inc Bonds 3.7% 04/01/24 968315 980241 Apple Computer Inc Notes 3.45% 05/06/24 355555 360514 CBL & Associates LP Notes 4.6% 10/15/24 983496 895160 Educat Realty Oper Notes 4.6% 12/01/24 224980 223904 Merck & Co Inc Notes 2.75% 02/10/2025 828630 814944 Renaissancere Fin Notes 3.7% 04/01/25 269460 259700 Total Capit Intl Sa Notes MW 1.5% 02/17 955371 955315 Westpac Banking Corp Notes 1.5% 12/01/17 239986 240072 Actavis Funding Scs Notes 2.35% 03/12/18 958195 960520 Commnwealth Bk Austr Ny MW 1.625% 03/18 479400 479645 Bank of Nova Scotia Notes 2.05% 06/05/20 956225 955783 Statoil Asa Make Whole 2.25% 11/08/2019 956230 962926 Bank of Montreal Notes 2.1% 12/12/2019 134942 135000 Toronto-Dominion Bank Notes 2.5% 12/2020 174624 175635 19000 shs Bed Bath & Beyond Inc 1111346 772160 14300 shs Comcast Corp Cl A 674289 987415 41650 shs Discovery Communications -C 1082944 1115387 34700 shs Liberty Interactive Corp Q-A 686622 693306 40000 shs Liberty Global Plc-Series C 1255454 1188000 15000 shs Diageo Plc- Sponsored Adr 1745790 1559100 15300 shs Nestle S A Spons Adr 1060857 1097622 15000 shs Philip Morris International 1216391 1372350 3500 shs Unilever Plc Sponsored ADR 135819 142450 33900 shs Unilever N V-NY Shares 1370343 1391934 13830 shs Wal-Mart Stores Inc 896799 955930 20300 shs EOG Resources Inc 1645774 2052330 9575 shs Berkshire Hathaway Inc-Cl B 904339 1560534 26500 shs Progressive Corp Ohio 602927 940750 35650 shs U S Bancorp 1302239 1831340 25000 shs Wells Fargo & Co 1000890 1377750 26000 shs Novartis Ag - ADR 1862572 1893840 4000 shs Henry Schein Inc Com Stk 611520 606840 18300 shs Zoetis Inc Com Stk 642509 979599 11085 shs Perrigo Co Plc Com Stk 1241538 922605 20000 shs Nielsen Holdings Plc Foreign 858900 839000 1455 shs Alphabet Inc Cl C 800047 1122998 690 shs Alphabet Inc Cl A 270881 546790 10000 shs Fleetcor Technologies Inc 1363317 1415200 47900 shs Oracle Corp 1840838 1841755 36000 shs Paypal Holdings Inc- Com Stk 1219487 1420920 33500 shs Qualcomm Inc 2152575 2184200 7500 shs Celanese Corp Series A 310042 590550 13800 shs Praxair Inc 1517968 1617222 125452.11 shs BBH International Equity 1588926 1756330 Land 41466994 41466994 23920000 Altarock Partners Series AT COST 8900759 9868183 Bares Mid-Large Cap Series AT COST 14475508 15063593 Burgundy Emerging Market AT COST 8568109 8153024 Clarkston Capital Partners Small-Mid Cap AT COST 8132202 9103115 LBC Credit Parners III USTE Series AT COST 3385626 3392183 REMS Group Series AT COST 8256347 8503067 Select Equity Series AT COST 13054774 13372572 BBH Cap Partners QP Iv (Cayman) (Valued AT COST 1167750 1348768 Longleaf Partners Small Cap Fd AT COST 7320846 6796397 1-3 Year Treasury Index Non-Lendab AT COST 6754676 6711699 US Debt B (510353) AT COST 27233127 26839680 Emerging Markets Index NL Fund B AT COST 6231256 7142962 Equity Index NL Fund B AT COST 55455354 59619960 Msci World Ex-Us Index Fund B AT COST 19285924 21106413 Russell 2000 Equity Index Fund B AT COST 6260062 8433135 US Real Estate Securities Fund B AT COST 6767766 6951574 Alpha Credit HY Bond Fund B AT COST 6929307 7436409 Short-Term Investment Fund B AT COST 11620 11620 Oaktree Opportunities Sub Trust AT COST 360919 386890 Furniture and Fixtures 148347 22252 126095 126095 Machinery and Equipment 250369 17509 232860 232860 Improvements 348139 109707 238432 238432 Legal fees 1793 90 0 1703 Sales tax receivable 14228 11437 11437 Security deposit 16935 16935 16935 Bank fees 211 23 188 Books,subscriptions,references 499 499 Communications & public relations 51379 51379 Davidson scholars expenses 12024 12024 Information technology 42702 42702 Insurance 8511 851 7660 K-1 expenses 764068 764068 Membership dues 33395 33395 Other expenses 2885 2885 Other land expenses 12743 12743 Payroll processing fees 1802 198 1604 Hunting lease & other 9882 9882 Passthrough K-1 income 4831943 4831943 Timber income- JMB Land 163156 163156 Adjust land basis to cost from estate distribution 219092 Prior period partnership interests basis adjustment 326764 Consulting fees 54303 0 0 54303 Investment management fees 586198 586198 0 0 Land management services 24000 24000 0 0 Leadership development 14746 0 0 14746 Strategic planning services 28039 0 0 28039 John M. Belk Endowment (the foundation) respectfully requests abatement of penalties related to late payment of tax for this amended 2016 Form 990-PF. The foundation entered into partnership investments in 2016, and the tax preparer did not know to expect Schedules K-1. The foundation exercised ordinary business care and prudence in relying on its investment and tax advisors to include all taxable income in the return as originally filed. The omission of partnership income was not due to willful neglect. Once the omission of partnership income was recognized, the foundation took immediate steps to amend this return to properly report it. Excise tax 1035000