JOHN M BELK ENDOWMENT: Form 990PF, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- JOHN M BELK ENDOWMENT (EIN 56-1954114)
- Tax period
- 2017-01-01 to 2017-12-31
- Filed
- 2019-11-07
- IRS object ID
- 201913119349100921
- Schema version
- 2017v2.2
- 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
- Form 990-PF
- Accounting Fees Schedule
- Depreciation Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Land Schedule2
- Investments Other Schedule2
- Land Etc Schedule2
- Legal Fees Schedule
- Other Assets Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Professional Fees Schedule
- Reasonable Cause Explanation
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-07T11:36:52-08:00 | ReturnTs |
| Tax Period End | 2017-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 760269860 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Blazek & Vetterling | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2900 Weslayan Suite 200 | AddressLine1Txt |
| City | Houston | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 770275132 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2017-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 561954114 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | John M Belk Endowment | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | JOHN | BusinessNameControlTxt |
| Phone | 7049434160 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4201 Congress Street | AddressLine1Txt |
| City | Charlotte | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28209 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Mary Claudia Belk Pilon | PersonNm |
| Person Title | Board Chair | PersonTitleTxt |
| Signature | 2019-11-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Kurt Coburn | PreparerPersonNm |
| PTIN | P01638285 | PTIN |
| Phone | 7134395739 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2020-03-31 21:24:44Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amended Return | Yes (X) | AmendedReturnInd |
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $355,241,136 | 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 |
| Interest On Sav Rev And Expnss | $125 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $125 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $1,429,967 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $1,429,967 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $11,548,143 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $28,713,552 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $11,548,143 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $6,316,139 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $6,316,139 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $19,294,374 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $19,294,374 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $295,054 | CompOfcrDirTrstRevAndExpnssAmt |
| Comp Ofcr Dir Trst Net Invst Incm | $14,753 | CompOfcrDirTrstNetInvstIncmAmt |
| Comp Ofcr Dir Trst Dsbrs Chrtbl | $280,301 | CompOfcrDirTrstDsbrsChrtblAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $402,649 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $402,649 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $126,024 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Net Invst Incm | $1,260 | PensionEmplBnftNetInvstIncmAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $124,764 | PensionEmplBnftDsbrsChrtblAmt |
| Legal Fees Rev And Expnss | $5,447 | LegalFeesRevAndExpnssAmt |
| Legal Fees Net Invst Incm | $272 | LegalFeesNetInvstIncmAmt |
| Legal Fees Dsbrs Chrtbl | $5,175 | LegalFeesDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $121,044 | AccountingFeesRevAndExpnssAmt |
| Accounting Fees Net Invst Incm | $312 | AccountingFeesNetInvstIncmAmt |
| Accounting Fees Chrtbl Prps | $120,732 | AccountingFeesChrtblPrpsAmt |
| Other Prof Fees Rev And Expnss | $978,659 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $678,983 | OtherProfFeesNetInvstIncmAmt |
| Other Prof Fees Dsbrs Chrtbl | $299,675 | OtherProfFeesDsbrsChrtblAmt |
| Taxes Rev And Expnss | $51,157 | TaxesRevAndExpnssAmt |
| Deprec And Dpltn Rev And Expnss | $76,046 | DeprecAndDpltnRevAndExpnssAmt |
| Occupancy Rev And Expnss | $21,044 | OccupancyRevAndExpnssAmt |
| Occupancy Dsbrs Chrtbl | $21,044 | OccupancyDsbrsChrtblAmt |
| Trav Conf Meeting Rev And Expnss | $80,343 | TravConfMeetingRevAndExpnssAmt |
| Trav Conf Meeting Dsbrs Chrtbl | $80,343 | TravConfMeetingDsbrsChrtblAmt |
| Other Expenses Rev And Expnss | $1,220,970 | OtherExpensesRevAndExpnssAmt |
| Other Expenses Net Invst Incm | $1,135,336 | OtherExpensesNetInvstIncmAmt |
| Other Expenses Dsbrs Chrtbl | $94,634 | OtherExpensesDsbrsChrtblAmt |
| Tot Opr Expenses Rev And Expnss | $3,378,437 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $1,830,916 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $1,429,317 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $3,001,690 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $3,001,690 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $6,380,127 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $1,830,916 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $4,431,007 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | $12,914,247 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $17,463,458 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cash BOY | $96,916 | CashBOYAmt |
| Cash EOY | $670,423 | CashEOYAmt |
| Cash EOYFMV | $670,423 | CashEOYFMVAmt |
| Sav And Temp Cash Invst BOY | $374,985 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $1,064,859 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $1,064,859 | SavAndTempCashInvstEOYFMVAmt |
| Corporate Stock BOY | $32,973,943 | CorporateStockBOYAmt |
| Corporate Stock EOY | $26,244,234 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $34,751,538 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $32,162,087 | CorporateBondsBOYAmt |
| Corporate Bonds EOY | $34,498,988 | CorporateBondsEOYAmt |
| Corporate Bonds EOYFMV | $34,553,297 | CorporateBondsEOYFMVAmt |
| Invst Land Cost Or Other Basis | $41,466,994 | InvstLandCostOrOtherBasisAmt |
| Land Bldg Investments BOY | $41,466,994 | LandBldgInvestmentsBOYAmt |
| Land Bldg Investments EOY | $41,466,994 | LandBldgInvestmentsEOYAmt |
| Land Bldg Investments EOYFMV | $23,920,000 | LandBldgInvestmentsEOYFMVAmt |
| Other Investments BOY | $208,551,932 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $224,666,856 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $259,726,765 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $746,878 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $221,558 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $597,387 | LandBOYAmt |
| Land EOY | $525,320 | LandEOYAmt |
| Land EOYFMV | $525,320 | LandEOYFMVAmt |
| Other Assets BOY | $28,372 | OtherAssetsBOYAmt |
| Other Assets EOY | $28,934 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $28,934 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $316,252,616 | TotalAssetsBOYAmt |
| Total Assets EOY | $329,166,608 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $355,241,136 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $6,313 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $6,058 | AccountsPayableEOYAmt |
| Total Liabilities BOY | $6,313 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $6,058 | TotalLiabilitiesEOYAmt |
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
| Retained Earning BOY | $316,246,303 | RetainedEarningBOYAmt |
| Retained Earning EOY | $329,160,550 | RetainedEarningEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $316,246,303 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $329,160,550 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $316,252,616 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $329,166,608 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $316,246,303 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | $12,914,247 | ExcessRevenueOverExpensesAmt |
| Subtotal | $329,160,550 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $329,160,550 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (6 entries)
| PropertyPropertyDesc | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt | How AcquiredHowAcquiredCd | AcquiredAcquiredDt | SoldSoldDt |
|---|---|---|---|---|---|---|---|
| Publicly traded securities | $7,946,597 | $6,229,925 | $1,716,672 | $1,716,672 | |||
| Passtrough K-1 capital gain | $8,798,346 | $8,798,346 | $8,798,346 | ||||
| Fixed asset disposal | $800 | $4,459 | -$3,659 | -$3,659 | P | 2017-01-01 | 2017-12-31 |
| Capital gain distributions | $496,701 | $496,701 | $496,701 | ||||
| BBH Wealth Strategies LLC- REMS Group | $8,205,472 | $8,205,514 | -$42 | -$42 | P | 2017-01-01 | 2019-09-29 |
| BlackRock Equity Index Non-lendable Fund | $3,265,636 | $2,725,511 | $540,125 | $540,125 | P | 2017-01-01 | 2017-12-01 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $11,548,143 | CapitalGainNetIncomeAmt |
Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Liable Section4942 Tax | false | LiableSection4942TaxInd |
| Adjusted Qlfy Distri Yr1 | $3,252,624 | AdjustedQlfyDistriYr1Amt |
| Net Vl Noncharitable Assets Yr1 | $301,264,389 | NetVlNoncharitableAssetsYr1Amt |
| Distribution Yr1 | 0.01080 | DistributionYr1Rt |
| Adjusted Qlfy Distri Yr2 | $37,294,144 | AdjustedQlfyDistriYr2Amt |
| Net Vl Noncharitable Assets Yr2 | $303,195,297 | NetVlNoncharitableAssetsYr2Amt |
| Distribution Yr2 | 0.12300 | DistributionYr2Rt |
| Adjusted Qlfy Distri Yr3 | $12,836,097 | AdjustedQlfyDistriYr3Amt |
| Net Vl Noncharitable Assets Yr3 | $290,735,649 | NetVlNoncharitableAssetsYr3Amt |
| Distribution Yr3 | 0.04415 | DistributionYr3Rt |
| Adjusted Qlfy Distri Yr4 | $3,562,828 | AdjustedQlfyDistriYr4Amt |
| Net Vl Noncharitable Assets Yr4 | $281,957,406 | NetVlNoncharitableAssetsYr4Amt |
| Distribution Yr4 | 0.01264 | DistributionYr4Rt |
| Adjusted Qlfy Distri Yr5 | $2,346,250 | AdjustedQlfyDistriYr5Amt |
| Net Vl Noncharitable Assets Yr5 | $190,459,114 | NetVlNoncharitableAssetsYr5Amt |
| Distribution Yr5 | 0.01232 | DistributionYr5Rt |
| Total Distribution | 0.202906 | TotalDistributionRt |
| Average Distribution | 0.040581 | AverageDistributionRt |
| Net Vl Noncharitable Assets | $331,146,866 | NetVlNoncharitableAssetsAmt |
| Adj Net Vl Noncharitable Assets | $13,438,271 | AdjNetVlNoncharitableAssetsAmt |
| Net Investment Income Pct | $174,635 | NetInvestmentIncomePctAmt |
| Adj Nonchrtbl Net Invst Incm Pct | $13,612,906 | AdjNonchrtblNetInvstIncmPctAmt |
| Qualifying Distributions | $4,438,602 | QualifyingDistributionsAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $349,269 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $349,269 | SubtotalAmt |
| Tax Based On Investment Income | $349,269 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $57,830 | EstimatedPlusOvpmtIncmTxAmt |
| Extsn Request Income Tax Paid | $35,795 | ExtsnRequestIncomeTaxPaidAmt |
| Total Payments And Credits | $91,885 | TotalPaymentsAndCreditsAmt |
| Tax Due | $257,384 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | false | Form990TFiledInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | NC | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | WWW.JMBENDOWNMENT.ORG | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Katie Lindquist | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7049434167 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4201 Congress Street Suite 470 | AddressLine1Txt |
| City | Charlotte | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28209 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | Yes (true) | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Acts Fail To Qlfy As Exceptions | false | ActsFailToQlfyAsExceptionsInd |
| Uncorrected Prior Acts | false | UncorrectedPriorActsInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Undistr Incm Sect4942a2 Not App | false | UndistrIncmSect4942a2NotAppInd |
| Business Holdings | false | BusinessHoldingsInd |
| Excess Business Holdings | false | ExcessBusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Transactions Fail To Qlfy As Exc | false | TransactionsFailToQlfyAsExcInd |
| Maintained Expenditure Rspns | false | MaintainedExpenditureRspnsInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Proceeds Or Net Income | false | ProceedsOrNetIncomeInd |
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 |
|---|---|---|---|---|---|---|---|
| Mary Claudia Belk Pilon | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Board Chair | 20.00 | $0 | |
| George S Dewey IV | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Vice Chair | 5.00 | $0 | |
| Virginia M Esposito | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Board Mbr/Sec | 5.00 | $0 | |
| Brian T Marley | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Board Mbr/Trea | 5.00 | $0 | |
| Anthony Zeiss | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Board Member | 5.00 | $0 | |
| Kristen Teskey | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | ED/ Asst Sec | 40.00 | $233,235 | $13,191 |
| Jeffrey Alligood | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Fin/ Asst Trea | 40.00 | $43,077 | $5,551 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee BenefitsEmployeeBenefitsAmt |
|---|---|---|---|---|---|---|---|
| Cynthia Liston | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Program Offcr | 40.00 | $109,721 | $20,122 |
| Jennifer Bihn | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Grants Mngr | 40.00 | $102,641 | $20,699 |
| Usoon Woo | |||||||
| 4201 Congress Street | Charlotte | NC | 28209 | Exec Assist | 40.00 | $69,079 | $18,860 |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| BBH Investment and Wealth Management | |||||
| 140 Broadway | New York | NY | 10005 | Invest mgmt | $544,111 |
| Clifton Larson Allen | |||||
| 227 West Trade Street 8th Floor | Charlotte | NC | 28202 | Interim controller | $114,808 |
| BlackRock | |||||
| 1340 Environ Way 314 | Chapel Hill | NC | 27517 | Invest mgmt | $93,627 |
| South Summit Services | |||||
| 4201 Congress Street Ste 470 | Charlotte | NC | 28209 | Foundation mgmt svcs | $257,320 |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $309,679,555 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $2,590,157 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $23,920,000 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $336,189,712 | TotalFMVOfUnusedAssetsAmt |
| Reduction Claimed | $0 | ReductionClaimedAmt |
| Adjusted Total FMV Of Unused Ast | $336,189,712 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $5,042,846 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $331,146,866 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $16,557,343 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $16,557,343 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $349,269 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $349,269 | TotalTaxAmt |
| Distributable Before Adj | $16,208,074 | DistributableBeforeAdjAmt |
| Recoveries Qualfied Distri | $800 | RecoveriesQualfiedDistriAmt |
| Distributable Before Ded | $16,208,874 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $16,208,874 | DistributableAsAdjustedAmt |
Qualifying Distri Part XII QualifyingDistriPartXIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $4,431,007 | ExpensesAndContributionsAmt |
| Charitable Assets Acquis Paid | $7,595 | CharitableAssetsAcquisPaidAmt |
| Qualifying Distributions | $4,438,602 | QualifyingDistributionsAmt |
| Adjusted Qualifying Distri | $4,438,602 | AdjustedQualifyingDistriAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $16,208,874 | DistributableAsAdjustedAmt |
| Undistributed Income PY | $1,640,668 | UndistributedIncomePYAmt |
| Qualifying Distributions | $4,438,602 | QualifyingDistributionsAmt |
| Applied To Year1 | $1,640,668 | AppliedToYear1Amt |
| Treated As Distri From Corpus | $0 | TreatedAsDistriFromCorpusAmt |
| Applied To Current Year | $2,797,934 | AppliedToCurrentYearAmt |
| Undistributed Income CY | $13,410,940 | UndistributedIncomeCYAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (5 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient RelationshipRecipientRelationshipTxt | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|---|
| Single Stop USA | |||||||
| 1825 park Ave | New York | NY | 10035 | N/A | PC | Expansion of Single Stop into North Carolina Community Colleges | $1,632,010 |
| North Carolina Community College Fd | |||||||
| 200 W Jones St 5016 Mail Srvc Cntr | Raleigh | NC | 27699 | N/A | SO III FI | North Carolina Community College Student Success Center | $250,000 |
| MDC Inc | |||||||
| 307 W Main St | Durham | NC | 27701 | N/A | PC | Fayetteville NSEM Participation | $25,000 |
| Foundation For The Carolinas | |||||||
| 220 N Tryon Street | Charlotte | NC | 28202 | N/A | PC | Foundation For The Carolinas - Belk Place | $994,680 |
| NC State University | |||||||
| 2701 Sullivan Drive Campus Box 721 | Raleigh | NC | 27695 | N/A | GOV | Envisioning Excellence for Community College Leadership Planning | $100,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $3,001,690 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $125 | ExclusionAmt |
Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $1,429,967 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $11,548,143 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp (3 entries)
| DescDesc | ExclusionExclusionCd | ExclusionExclusionAmt |
|---|---|---|
| Hunting lease & other | 16 | $9,882 |
| Passthrough K-1 income | 14 | $6,074,931 |
| Timber income- JMB Land | 14 | $231,326 |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $19,294,374 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $19,294,374 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail (2 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| Accounting fees | $6,236 | $312 | $0 | $5,924 |
| Interim controller services | $114,808 | $0 | $0 | $114,808 |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp (5 entries)
| PropertyPropertyDesc | AcquiredAcquiredDt | Cost Or Other BasisCostOrOtherBasisAmt | Prior Year DepreciationPriorYearDepreciationAmt | Computation MethodComputationMethodTxt | LifeLifeRt | Current Year ExpenseCurrentYearExpenseAmt |
|---|---|---|---|---|---|---|
| Leasehold Improvements | 2015-03-15 | $339,232 | $109,219 | SL | 39.0000 | $8,678 |
| Office furniture | 2014-12-19 | $38,000 | $5,700 | SL | 10.0000 | $3,800 |
| Office furniture | 2015-03-15 | $110,347 | $16,552 | SL | 10.0000 | $11,034 |
| Architect fees - WIP | 2014-12-31 | $10,626 | $488 | SL | 39.0000 | $272 |
| Computer and peripherals | 2017-01-01 | $248,674 | $17,509 | SL | 5.0000 | $52,262 |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp (33 entries)
| BondBondNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| BBH Limited Duration Fund Cl I | $14,883,642 | $14,893,009 |
| Unitedhealth Group Inc 6% 02/15/2018 | $562,590 | $552,712 |
| Medtronic Inc Nts 1.5% 43174 | $701,036 | $699,496 |
| Goldman Sachs Group Inc 6.15% 04/01/18 | $574,879 | $565,891 |
| Wal-Mart Stores Inc Nts 1.125% 43408 | $700,398 | $699,825 |
| John Deere Capital Corp Bonds 1.6% 07/13 | $955,337 | $953,835 |
| Rogers Communications Inc Nts 6.8% 08/15 | $293,577 | $288,226 |
| Western Union Co Nts Make Whole 3.65% 08 | $967,155 | $963,576 |
| Amgen Inc Nts 1.9% 05/10/2019 | $419,786 | $418,648 |
| Duke Energy Florida Llc Nts 2.1% 12/15/2 | $335,000 | $334,729 |
| Ares Capital Corp Make Whole Nts 3.875% | $961,024 | $976,963 |
| FS Investment Corp Nts 4.25% 01/15/20 | $363,874 | $371,242 |
| Microsoft Corp Nts 1.85% 02/12/2020 | $705,754 | $697,291 |
| At&T Inc Nts 2.45% 06/30/2020 | $954,513 | $953,959 |
| Caterpillar Financial Nts 2.5% 11/13/202 | $954,150 | $959,861 |
| Burlington No Sf 99-2 Tr 7.57% 01/02/202 | $139,637 | $128,910 |
| Southern Cal Edison 1.845% 02/01/2022 | $135,000 | $133,689 |
| Celgene Corp Nts 3.55% 44788 | $954,332 | $983,679 |
| Anheuser-Busch Inbev Fin 2.625% 01/17/23 | $900,012 | $896,787 |
| Intl Business Machines Corp Nts 3.625% 0 | $974,524 | $1,000,009 |
| Apple Computer Inc Nts 3.45% 45448 | $354,979 | $362,957 |
| Education Realty Operat 4.6% 12/01/24 | $224,980 | $233,667 |
| Merck & Co Inc Nts 2.75% 02/10/2025 | $828,630 | $826,638 |
| Renaissancere Finance Nts 3.7% 04/01/202 | $269,460 | $277,193 |
| Abbvie Inc Nts 3.6% 05/14/2025 | $679,065 | $677,505 |
| Coca-Cola Co Nts 2.55% 06/01/2026 | $539,381 | $544,992 |
| Actavis Funding Scs Nts 2.35% 03/12/2018 | $956,311 | $955,754 |
| Commonwealth Bk Austr 1.625% 03/12/18 | $479,400 | $479,914 |
| Trans-Canada Pipelines 3.125% 01/15/19 | $509,361 | $504,570 |
| Bank Of Nova Scotia Nts 2.05% 06/05/19 | $955,764 | $952,660 |
| Statoil Asa Make Whole 2.25% 11/08/2019 | $955,871 | $954,924 |
| Bank Of Montreal Nts 2.1% 12/12/2019 | $134,942 | $134,626 |
| Toronto-Dominion Bank Nts 2.5% 12/14/20 | $174,624 | $175,560 |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (27 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| 44000 shs Comcast Corp Cl A | $1,212,533 | $1,762,200 |
| 41650 shs Discovery Communications -C | $1,082,944 | $881,730 |
| 34700 shs Liberty Interactive Corp Q-A | $686,622 | $847,374 |
| 38300 shs Liberty Global Plc-Series C | $1,200,960 | $1,296,072 |
| 14300 shs Diageo PLC- Sponsored ADR | $1,662,722 | $2,088,229 |
| 25736 shs Kroger Co Com Stk | $544,580 | $706,453 |
| 7645 shs Nestle S A Spons Adr | $510,391 | $657,241 |
| 10350 shs Philip Morris International | $830,027 | $1,093,478 |
| 28300 shs Unilever N V-Ny Shares | $1,129,429 | $1,593,856 |
| 9575 shs Berkshire Hathaway Inc-Cl B | $904,339 | $1,897,956 |
| 31750 shs U S Bancorp | $1,140,766 | $1,701,165 |
| 30200 shs Wells Fargo & Co | $1,271,292 | $1,832,234 |
| 4100 shs Dentsply Sirona Inc Com Stk | $228,666 | $269,903 |
| 26000 shs Novartis Ag - Adr | $1,862,572 | $2,182,960 |
| 8000 shs Henry Schein Inc Com Stk | $611,520 | $559,040 |
| 16100 shs Zoetis Inc Com Stk | $540,423 | $1,159,844 |
| 11085 shs Perrigo Co Plc Com Stk | $1,241,538 | $966,169 |
| 22000 shs Nielsen Holdings PLC Foreign | $934,747 | $800,800 |
| 1455 shs Alphabet Inc Cl C | $800,047 | $1,522,512 |
| 690 shs Alphabet Inc Cl A | $270,881 | $726,846 |
| 7800 shs Fleetcor Technologies Inc Com | $1,031,790 | $1,500,954 |
| 47900 shs Oracle Corp | $1,840,838 | $2,264,712 |
| 13560 shs Paypal Holdings Inc- Com Stk | $415,502 | $998,287 |
| 31700 shs Qualcomm Inc | $1,939,783 | $2,029,434 |
| 29178 shs Sabre Corp Com Stk | $620,684 | $598,149 |
| 7500 shs Celanese Corp Series A | $310,042 | $803,100 |
| 13000 shs Praxair Inc | $1,418,596 | $2,010,840 |
Investments Land Schedule2 InvestmentsLandSchedule2
Investment Land InvestmentLandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category Or Item | Land | CategoryOrItemTxt |
| Cost Or Other Basis | $41,466,994 | CostOrOtherBasisAmt |
| Book Value | $41,466,994 | BookValueAmt |
| EOYFMV | $23,920,000 | EOYFMVAmt |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (18 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| Altarock Partners Series | AT COST | $12,551,927 | $15,284,630 |
| Bares Mid-Large Cap Series | AT COST | $14,679,094 | $18,637,129 |
| Burgundy Emerging Market | AT COST | $9,826,767 | $11,184,953 |
| Clarkston Capital Partners Small-Mid Cap | AT COST | $9,348,668 | $11,428,979 |
| LBC Credit Parners III USTE Series | AT COST | $2,975,481 | $2,618,835 |
| Select Equity Series | AT COST | $20,830,679 | $23,615,526 |
| BBH Cap Partners QP IV (Cayman) | AT COST | $684,156 | $1,100,808 |
| Longleaf Partners Small Cap Fd | AT COST | $7,820,846 | $7,319,639 |
| Oaktree Opportunities Sub Trust | AT COST | $516,579 | $614,430 |
| 1-3 Year Treasury Index Non-Lendab | AT COST | $6,791,805 | $6,738,803 |
| US Debt B (510353) | AT COST | $31,246,248 | $31,142,903 |
| Emerging Markets Index NL Fund B | AT COST | $6,548,646 | $9,798,016 |
| Equity Index NL Fund B | AT COST | $58,981,848 | $69,057,405 |
| MSCI World Ex-US Index Fund B | AT COST | $20,344,073 | $26,243,388 |
| Russell 2000 Equity Index Fund B | AT COST | $6,782,541 | $9,692,962 |
| US Real Estate Securities Fund B | AT COST | $7,205,190 | $7,214,372 |
| Alpha Credit HY Bond Fund B | AT COST | $7,520,688 | $8,022,367 |
| Short-Term Investment Fund B | AT COST | $11,620 | $11,620 |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp (3 entries)
| Category Or ItemCategoryOrItemTxt | Cost Or Other BasisCostOrOtherBasisAmt | Accumulated DepreciationAccumulatedDepreciationAmt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|---|
| Furniture and Fixtures | $148,347 | $37,087 | $111,260 | $111,260 |
| Machinery and Equipment | $248,673 | $65,814 | $182,859 | $182,860 |
| Improvements | $349,858 | $118,657 | $231,201 | $231,200 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Legal fees | CategoryTxt |
| Legal Fees | $5,447 | LegalFeesAmt |
| Net Investment Income | $272 | NetInvestmentIncomeAmt |
| Adjusted Net Income | $0 | AdjustedNetIncomeAmt |
| Disbursements Charitable Prps | $5,175 | DisbursementsCharitablePrpsAmt |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (2 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| Sales tax receivable | $11,437 | $11,999 | $11,999 |
| Security deposit | $16,935 | $16,935 | $16,935 |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (10 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|
| Bank fees | $150 | $17 | $133 |
| Books,subscriptions,references | $28,434 | $28,434 | |
| Communications & public relations | $3,480 | $3,480 | |
| Davidson scholars expenses | $22,556 | $22,556 | |
| Information technology | $27,586 | $27,586 | |
| Insurance | $7,712 | $771 | $6,941 |
| K-1 expenses | $1,112,889 | $1,112,889 | |
| Other expenses | $1,869 | $1,869 | |
| Other land expenses | $12,210 | $21,210 | |
| Payroll processing fees | $4,084 | $449 | $3,635 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail (3 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| Hunting lease & other | $9,882 | $9,882 |
| Passthrough K-1 income | $6,074,931 | $6,074,931 |
| Timber income- JMB Land | $231,326 | $231,326 |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (6 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt | Disbursements Charitable PrpsDisbursementsCharitablePrpsAmt |
|---|---|---|---|---|
| Foundation management services | $256,616 | $19,246 | $0 | $237,369 |
| Investment management fees | $637,737 | $637,737 | $0 | $0 |
| Land management services | $22,000 | $22,000 | $0 | $0 |
| Leadership development | $35,000 | $0 | $0 | $35,000 |
| Other consulting services | $584 | $0 | $0 | $584 |
| Strategic planning services | $26,722 | $0 | $0 | $26,722 |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | John M. Belk Endowment (the foundation) respectfully requests abatement of penalties related to late payment of tax for this amended 2017 Form 990-PF. The foundation entered into partnership investments in the prior year, 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 in the originally filed 2017 990-PF 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. | ExplanationTxt |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Excise tax | CategoryTxt |
| Amt | $51,157 | Amt |
Comments