2024-11-15T09:52:31-06:00 2023-12-31 760269860 Blazek & Vetterling 2900 Weslayan Suite 200 Houston TX 77027 990PF 2023-01-01 561954114 John M Belk Endowment JOHN 9803814122 4201 Congress Street 470 Charlotte NC 28209 Mary Claudia Belk Pilon Board Chair & Pres. 9803814122 2024-11-15 1 0 Kurt Coburn P01638285 7134395739 2024-11-15 2023 2024-10-15 13:58:12Z X 395139086 X X 13150 13150 4131015 4131015 -3049233 69372613 0 1455500 1879845 2550432 6024010 35568 0 35568 1299750 0 1299750 256611 0 256611 42538 36443 6095 16236 7618 8118 3015640 1330550 1685090 57395 55939 0 36941 0 184900 0 184900 3771505 2913595 491538 8717084 4344145 3967670 14707092 14707092 23424176 4344145 18674762 -20873744 1679865 598574 4420912 4420912 3233333 4466815 4466815 159499124 95851394 108093543 33382596 32729869 31158868 41468960 41468960 41468960 28810000 144723948 183169682 217893107 751893 456052 384698 295841 295841 383291233 362403473 395139086 28474 14458 28474 14458 X 0 0 0 0 383262759 362389015 383262759 362389015 383291233 362403473 383262759 -20873744 0 362389015 0 362389015 Publicly traded securities 69125057 70173358 -1048301 -1048301 K-1 Capital Gain / (Loss) P 2195234 -2195234 -2195234 VP Dislocation Fund - Offshore P 2020-06-30 2023-09-30 141718 1687 140031 140031 Capital gain distributions 6887 6887 6887 Disposal of fixed assets P 2021-11-08 2023-08-28 81132 51567 29565 29565 -3067052 23350 0 23350 0 23350 551678 0 0 0 551678 X 0 528328 528328 0 0 0 0 0 0 0 0 0 1 1 0 1 1 NC 1 0 0 1 1 1 WWW.JMBENDOWNMENT.ORG Taborah Miley 9803814123 4201 Congress Street Suite 470 Charlotte NC 28209 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Mary Claudia Belk Pilon 4201 Congress Street Charlotte NC 28209 Board Chair 40.00 35568 0 0 J Keith Benedict 4201 Congress Street Charlotte NC 28209 Board Member 24.00 398160 0 0 Virginia M Esposito 4201 Congress Street Charlotte NC 28209 Board Member 1.00 0 0 0 Michael Thomas Krause 4201 Congress Street Charlotte NC 28209 Senior Advisor 40.00 400500 13200 0 Mark Earl Reed 4201 Congress Street Charlotte NC 28209 Managing Director 40.00 364390 12720 0 Charles W Kaylor 4201 Congress Street Charlotte NC 28209 Chief of Staff 40.00 208763 8350 0 Michelle M Sorrells 4201 Congress Street Charlotte NC 28209 Impact Officer 40.00 103774 4146 0 Calvin Dwight Miller 4201 Congress Street Charlotte NC 28209 Impact Officer 40.00 84270 3371 0 1 South Summit Capital Management LLC 4201 Congress St Ste 470 Charlotte NC 28202 Foundation management services 675136 New Educational Ventures LLC 1311 13th St NW Unit T01 Washington DC 20005 Strategic consulting services 351898 Andalusian Private Capital 51 John F Kennedy Pkwy Short Hills NJ 07078 Investment services 303068 Jake Drew 5908 Fallsview Ln Dallas TX 75252 Data analytics 288000 New Republic Capital LLC 521 East Morehead Street Suite 100 Charlotte NC 28202 Investment services 255000 8 In 2023, the John M. Belk Endowment joined other organizations in leading the "NC Reconnect" effort, focused on engaging adults in North Carolina who have not completed a post-secondary credential and connecting them to educational pathways at their local community colleges that lead to improved career opportunities. In addition to making grants to community colleges in the respective cohorts, the Endowment covered the cost of communications and marketing services essential to the initiative's success. 477767 0 164746040 4644633 225191007 394581680 0 0 394581680 5918725 388662955 19433148 19433148 23350 23350 19409798 46410 19456208 0 19456208 18674762 0 18674762 19456208 17859805 0 0 18674762 17859805 0 0 814957 0 0 0 0 0 0 0 0 18641251 0 0 0 X Novant Health Foundation 200 Hawthorne Ln Charlotte NC 28204 N/A PC Bridges to Healthcare Pipeline and Recruitment Program 460400 Public School Forum of North Carolina PO Box 18284 Raleigh NC 27619 N/A PC General Operating Support 100000 InsideTrack 121 SW Salmon St Ste 800 Portland OR 97204 N/A PC Support for NC Reconnect 679860 Julius L Chambers High School 7600 IBM Dr Charlotte NC 28262 N/A Gov General Operating Support 3000 West Mecklenburg High School 7400 Tuckaseegee Rd Charlotte NC NC 28214 N/A Gov General Operating Support 1500 Charlotte-Mecklenburg Schools 4421 Stuart Andrew Blvd Charlotte NC 28217 N/A Gov General Operating Support 35000 EdNC PO Box 1636 Raleigh NC 27602 N/A PC General Operating Support 1070000 College Advising Corps 301 W Barbee Chapel Rd 210 Chapel Hill NC 27517 N/A PC General Operating Support 2500000 Institute for Emerging Issues 1070 Partners Way Raleigh NC 27606 N/A PC General Operating Support 250000 Year Up 45 Milk St 9th Floor Boston MA 02109 N/A PC General Operating Support 500000 College of The Albemarle 1208 North Rd St Elizabeth City NC 27909 N/A PC Support for NC Reconnect 75000 Catawba Valley Community College 2550 Highway 70 SE Hickory NC 28602 N/A Gov Support for NC Reconnect 75000 LatinxEd PO Box 891 Siler City NC 27344 N/A PC General Operating Support 500000 Davidson-Davie Community College 297 DCC Rd Lexington NC 27360 N/A Gov Support for NC Reconnect 75000 Brunswick Community College 50 College Rd Supply NC 28422 N/A Gov Support for NC Reconnect 75000 Edgecombe Community College 2009 West Wilson St Tarboro NC 27886 N/A Gov Support for NC Reconnect 75000 Hunt Institute 4000 Centregreen Way Ste 301 Cary NC 27513 N/A PC General Operating Support 1500000 myFutureNC PO Box 26246 Raleigh NC 27611 N/A PC General Operating Support 1250000 Guilford County Schools 712 N Eugene St Greensboro NC 27401 N/A Gov FAFSA Strong Initiative 30000 Iredell-Statesville Schools 549 North Race St Statesville NC 28677 N/A Gov FAFSA Strong Initiative 30000 Winston-SalemForsyth County Schools 427 Corporate Square Drive WinstonSalem NC 27105 N/A Gov FAFSA Strong Initiative 30000 Union County Public Schools 400 N Church St Monroe NC 28112 N/A Gov FAFSA Strong Initiative 30000 Charlotte-Mecklenburg Schools 4421 Stuart Andrew Blvd Charlotte NC 28217 N/A Gov FAFSA Strong Initiative 30000 Land of Sky Regional Council 339 New Leicester Hwy 140 Asheville NC 28806 N/A PC General Operating Support 325500 InsideTrack 121 SW Salmon St Ste 800 Portland OR 97204 N/A PC Support for NC Reconnect 406832 National College Advising Corp 5540 Centerview Dr Ste 204 Raleigh NC 27606 N/A PC General Operating Support 100000 Foundation for the Carolinas 220 N Tryon St Charlottel NC 28202 N/A Gov General Operating Support 4500000 14707092 0 14 13150 14 4131015 525990 17819 18 -3067052 Passthrough K-1 income 525990 -429844 14 1663094 Hunting lease 16 4938 Section 951A GILTI 14 217312 -412025 2962457 0 2550432 0 0 0 0 0 0 0 0 0 0 Tax compliance 14000 6500 7000 Accounting 2236 1118 1118 J Keith Benedict John M. Belk Endowment (JMBE) paid a management fee of $675,136 to South Summit Capital Management, LLC, pursuant to a shared services agreement, for ordinary and necessary personal services performed for JMBE during the tax year. J. Keith Benedict is employed by South Summit Capital Management, LLC. He is not employed or compensated by JMBE. The management fee is not paid to J. Keith Benedict directly, but it is estimated that $398,160 is attributed to his services performed for the JMBE. JMBE is making this disclosure pursuant to revised IRS guidance per Announcement 2021-18. Leasehold Improvements 2015-03-15 349858 69806 SL 39.000000000000 8970 0 Office furniture 2014-12-19 148347 111260 SL 10.000000000000 14835 0 Equipment 2014-01-01 253688 238045 SL 5.000000000000 13136 0 K-1 Capital Gain UBTI Purchased 17819 Cost 0 17819 3,000 Callon Petroleu 6.125% 24 2903 2993 92,000 Cimarex Energy Co 3.9%27 78282 79695 267,000 Corecivic, Inc. 8.25%26 267659 271339 703,000 Delek Logistics 6.75% 25 701187 692455 866,000 Dish Dbs Corp 7.75% 26 887550 599705 32,000 Frontier Communi 6.75% 27 30080 30560 318,000 Frontier Communi 6.86% 28 295120 306870 53,000 Global Partners Lp 7%27 51895 51675 475,000 Griffon Corp 5.75%28 430988 465500 504,000 Hecla Mining Co 7.25% 28 533593 507150 159,000 Hercules Capita 2.625% 26 134260 143443 222,000 Icahn Enterprise 4.75% 24 214651 220613 349,000 Kohl'S Corp 4.25% 25 319420 337658 405,000 Macy'S, Inc. 6.9%29 374232 376650 4,000 Marriott Vacatio 4.75% 28 3580 3665 407,000 Mercer Interntn 5.125%29 348100 349003 405,000 Mpt Operating Pa 5.25%26 362162 360450 124,000 Nabors Industrie5.75%25 114647 124000 393,000 Nordstrom, Inc. 4%27 333147 366473 376,000 Oceaneering Internt 6% 28 337017 364720 311,000 Prospect Capita 3.364%26 260193 278637 89,000 Prospect Capita 3.706%26 77935 83294 86,000 Seagate Techno3.125%29F 66194 69230 274,000 Sm Energy Co 6.5% 28 260387 272630 17,000 Sm Energy Co 6.75% 26 16544 17000 773,000 Talos Production I 12% 26 812602 795224 379,000 The Geo Group, Inc 6% 26 348349 361945 372,000 Titan Intl Inc Del 7%28 356708 372465 169,000 Treehouse Foods, In 4%28 143197 149354 1,000 Us Steel Corp 6.875%29 896 1019 800,000 Vital Energy, Inc 9.5% 25 817206 800160 836,851 Jpm Managed Income Fd - Usd 8365497 8376877 245,961 Fidelity U.S. Bond Index Fund (Fxnax 2946617 2565377 45,875 Ishares Trust 1-3 Year Treasury Bond 3957168 3763585 98,171 Ishares Tr Iboxx Hi Yd Etf (Hyg) 8479903 7597454 5,550 Ishares S&P 500 Index Fund 1291721 2650847 297,210 Fidelity 500 Index Fund (Fxaix) 41014932 49185225 865,106 Fidelity Emerging Markets Index Fund 11497265 8694320 345,168 Fidelity Internatl Index Fund 16383166 16343718 16,600 Aci Worldwide Inc(Aciw) 420043 507960 4,000 Alphabet Inc Cap Stk Cl C(Goog) 550082 563720 12,950 Anterix Inc Com (Atex) 556374 431494 4,360 Apple Inc (Aapl) 630509 839431 69,500 Applied Digital Corp Com Usd0.001 488724 468430 18,200 Aspen Aerogels Inc Com Usd0.00001 466977 287201 990 Broadcom Inc Com (Avgo) 487469 1105088 3,950 Chart Inds Inc Com (Gtls) 562561 538504 4,750 Chevron Corp New Com(Cvx) 590376 708510 2,340 Chubb Limited Com Npv 430015 528840 14,380 Clearwater Paper Corp(Clw) 394810 519396 10,750 Delta Air Lines Inc(Dal) 367328 432473 18,215 Dermtech Inc Com (Dmtk) 448647 31876 8,800 Duke Energy Corp New Com New Isin #Us26441C2044 Sedol #B7Jzsk0 (Duk) 860680 853952 37,651 Fidelity 500 Index Fund (Fxaix) 5199901 6230893 6,600 General Mills Inc Com Usd0.10(Gis) 382810 429924 35,400 Harrow Inc Com (Hrow) 479663 396480 3,660 Hca Healthcare Inc Com(Hca) 834060 990689 1,555 Johnson &Johnson Com Usd1.00(Jnj) 261829 243731 3,965 Jpmorgan Chase & Co(Jpm) 560008 674447 58,457 Kosmos Energy Ltd Com (Kos) 142927 392246 1,500 Lockheed Martin Corp Com Usd1.00 (Lmt) 580874 679860 4,625 Lyondellbasell Industries N V Com 450080 439745 29,400 Magnite Inc Com (Mgni) 498136 274596 7,100 Merck &Co. Inc Com (Mrk) 535067 774042 2,540 Microsoft Corp (Msft) 740374 955142 4,750 Moderna Inc Com (Mrna) 514366 472388 1,400 Nike Inc Class B Com Npv(Nke) 233274 151998 21,350 Old Republic International Corp(Ori) 534963 627690 13,500 Palantir Technologies Inc Cl A (Pltr) 115829 231795 2,200 Palo Alto Networks Inc Com Usd0.0001 (Panw) 299981 648736 9,000 Pinnacle Financial Partners Com Usd1.00 (Pnfp) 635295 784980 2,500 Salesforce Inc Com (Crm) 423475 657850 21,367 Stonex Group Inc Com(Snex) 990885 1577526 3,935 United Parcel Service Inc Cl B(Ups) 739752 618771 1,030 Unitedhealth Group Inc(Unh) 430846 542264 10,350 Verizon Communications Inc (Vz) 557709 390195 1,500 Workday Inc Com Usd0.001 Cl A(Wday) 244260 414090 8,000 Spdr S&P 500 Etf Trust 2023351 3802480 3650 Trousdale Investors, LLC AT COST 1810589 1810589 Ada Re Segregated Account 2024-HQS1 AT COST 750000 750000 Ada Re Segregated Account 2024-P1 AT COST 1121699 1747490 JMBE Holdings 2020 LLC AT COST 8229102 7978705 Altarock Partners Series AT COST 11462056 26485611 Andalusian Credit Company LLC AT COST 0 122275 Andalusian Sports Advisors, LP AT COST 2999766 2999766 Andalusian SPV I LP AT COST 1739779 1497250 Andalusian SPV II LP AT COST 3720242 4070888 Andalusian SPV III LP AT COST 3995300 3982655 Aston Realty Investment Company (Aric) AT COST 2715368 3069670 Balance Legal Capital Fund II, LP (UK) AT COST 2820337 2475628 Bares Mid-Large Cap Series AT COST 13642678 13455153 BBH Ah Cayman LP AT COST 2009664 2270240 BBH Cap Partners QP IV AT COST 4600 424458 Braemont Partners I (Offshore) LP AT COST 3616997 4193871 Bramalea Partners Fund LP AT COST 3529801 4825899 Contrarian Emerging Markets Offshore Fund AT COST 1000000 1567588 ECF Value Fund International Ltd AT COST 2500000 2780853 FCA Health Innovations II QP AT COST 953139 1082741 FCA RR Investors LLC AT COST 129067 1060432 FCA Ventures I, LLC AT COST 6329604 6235913 FCAW CC GP Investors LLC AT COST 943341 634918 Goldcrest Capital II-A, LP AT COST 538513 1501066 Goldcrest Capital III-A, LP AT COST 1616592 2016748 Goldcrest Capital Mars SPV AT COST 2497936 3263042 Goldcrest Capital Peregrine-B SPV, LLC AT COST 1499935 1499725 Goldcrest Capital Sourcegraph-D SPV, LLC AT COST 997159 719352 HNVR II LP AT COST 339949 372234 Housing Impact Fund I LLC AT COST 657199 655559 LBC Credit Parners III USTE Series AT COST 1485409 518422 Morrocroft Neighborhood Fund III LP AT COST 1544384 3386850 NRC Absolute Return Offshore LP AT COST 8000000 8387331 NRC Global Select Equity Fund, L.P. AT COST 2545374 2637576 NRC Hedged Equity Offshore LP AT COST 4000000 3521343 NRC Private Credit Opportunities 2021 LP AT COST 6151087 7236674 NRC Private Credit Opportunities 2022, LP AT COST 5412656 5842888 NRC Private Equity Opportunities 2021, LP AT COST 4137875 4658023 NRC Private Equity Opportunities 2022, LP AT COST 3089362 3301886 Oaktree Opportunities Sub Trust AT COST 3330661 4941428 Orbimed Royalty & Credit Opportunities III, L.P. AT COST 2483198 2360986 Primary Wave AT COST 3482296 5264055 RB EFO II DE AIV II LP AT COST 376071 341798 Redbird Capital Partners Fund II, LP AT COST 371355 385432 Select Equity Series - BBH AT COST 13315820 15276883 Senvest Partners, Ltd. AT COST 1000000 1812322 Sharpvue Capital (Svc)-Peachtree Corners LLC AT COST 2942138 3000000 Spicewood Mineral Partners II, LP AT COST 3918121 3905099 Spicewood Mineral Partners, LP AT COST 4673302 5458776 Spicewood Titan Sidecar, LP AT COST 2157170 2758820 Tosca AT COST 2936176 3008149 Truebridge Capital Partners Fund VI (Cayman) AT COST 861047 1117981 Valley Forge Large Cap Equity Series - BBH AT COST 9098531 13238370 VP Dislocation Fund II Private Investors Offshore L.P. - Class A - AT COST 2503740 2817784 Zelda Ventures Fund I, LP AT COST 236730 217286 Zephyrus Aviation Partners Ii AT COST 8946767 6946626 Leasehold Improvements 349858 78776 271082 271082 Office furniture 148347 126095 22252 22252 Equipment 253688 251181 2507 2507 General governance and counsel 42538 36443 6095 Memberships, dues, subscriptions 42994 0 42994 Information & technology 64557 0 64557 Insurance 36124 24151 11973 State filing fees 778 778 0 Sponsorships & hosting 309332 0 309332 Other expenses 24713 5601 19112 K-1 expenses 3245292 2878920 0 Public relations 41495 0 41495 Other land expenses 4145 4145 0 Davidson scholar expenses 2075 0 2075 Passthrough K-1 income 1233250 1657595 1233250 Hunting lease 4938 4938 4938 Section 951A GILTI 217312 217312 217312 Investment management fees 877603 877603 0 Foundation management services 675136 135027 540109 Staffing services 20898 0 20898 Leadership development 60750 0 60750 Data analytic research 313078 288000 25078 Strategic consulting 532806 0 532806 Land management services 29920 29920 0 Payroll processing fees 30013 0 30013 Communications / public relations 475436 0 475436 Federal excise tax 1456 0 0 Foreign tax expense 55939 55939 0 NRC Private Credit Opportunities 2021 (Offshore) LP 521 East Morehead St Ste 100 Charlotte NC 28202 981590920 Distribution from investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 1587500 NRC Private Credit Opportunities 2022 (Offshore) LP 521 East Morehead St Ste 100 Charlotte NC 28202 981661072 Distribution from investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 3219959 NRC Private Equity Opportunities 2021 LP 521 East Morehead St Ste 100 Charlotte NC 28202 862499321 Distribution from investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 789287 NRC Private Equity Opportunities 2022 LP 521 East Morehead St Ste 100 Charlotte NC 28202 874555439 Distribution from investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 1816433 919521 JMBE Holdings 2020 LLC 4201 Congress Street 470 Charlotte NC 28209 853706523 Transfer to investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 10030000 NRC Absolute Return Offshore LP 521 East Morehead St Ste 100 Charlotte NC 28202 981596086 Entity is not a business enterprise, per IRC 4943(d)(3)(B). 0 NRC Private Credit Opportunities 2021 (Offshore) LP 521 East Morehead St Ste 100 Charlotte NC 28202 981590920 Transfer to investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 1587500 NRC Hedged Equity Offshore LP 521 East Morehead St Ste 100 Charlotte NC 28202 981596294 Entity is not a business enterprise, per IRC 4943(d)(3)(B). 0 NRC Private Credit Opportunities 2022 (Offshore) LP 521 East Morehead St Ste 100 Charlotte NC 28202 981661072 Transfer to investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 3219959 NRC Private Equity Opportunities 2021 LP 521 East Morehead St Ste 100 Charlotte NC 28202 862499321 Transfer to investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 789287 NRC Private Equity Opportunities 2022 LP 521 East Morehead St Ste 100 Charlotte NC 28202 874555439 Transfer to investment fund. Entity is not a business enterprise, per IRC 4943(d)(3)(B). 1816433 17443179