FILE COPY. Return of Private Foundation. or Section 4947(a)(1) Trust Treated as Private Foundation

Transcription

1 Form 990-PF Department of the Treasury Internal Revenue Service Return of Private Foundation OMB No or Section 4947(a)(1) Trust Treated as Private Foundation G Do not enter social security numbers on this form as it may be made public G Information about Form 990-PF and its separate instructions is at Open to Public Inspection For calendar year 2016 or tax year beginning, 2016, and ending, A Isla Carroll Turner Friendship Trust San Felipe, Ste 125 B Houston, T C Employer identification number Telephone number (see instructions) If exemption application is pending, check here. G G Check all that apply: Initial return Initial return of a former public charity D 1 Foreign organizations, check here G Final return Amended return Address change Name change 2 Foreign organizations meeting the 85% test, check here and attach computation G H Check type of organization: Section 501(c)(3) exempt private foundation Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation E If private foundation status was terminated under section 507(b)(1)(A), check here Accounting method: Cash Accrual G I Fair market value of all assets at end of year J (from Part II, column (c), line 16) Other (specify) F If the foundation is in a 60-month termination G$ 49,528,918. (Part I, column (d) must be on cash basis.) under section 507(b)(1)(B), check here G Part I Analysis of Revenue and (a) Revenue and (b) Net investment (c) Adjusted net (d) Disbursements Expenses (The total of amounts in expenses per books income income for charitable columns (b), (c), and (d) may not neces- purposes sarily equal the amounts in column (a) (cash basis only) (see instructions).) 1 Contributions, gifts, grants, etc., received (attach schedule)... 2 Check if the foundation is not required to attach Sch. B G a Net rental income Interest on savings and temporary cash investments Dividends and interest from securities Gross rents b or (loss) R 6 a Net gain or (loss) from sale of assets not on line E b Gross sales price for all V assets on line 6a ,432. E 7 Capital gain net income (from Part IV, line 2).... N 8 Net short-term capital gain U 9 Income modifications E 10 a Gross sales less returns and allowances b Less: Cost of goods sold c 11 Gross profit or (loss) (attach schedule) Other income (attach schedule) Total. Add lines 1 through Compensation of officers, directors, trustees, etc Other employee salaries and wages Pension plans, employee benefits a Legal fees (attach schedule) A D b Accounting fees (attach sch).... See St M I c Other professional fees (attach sch).. See St N I S T 17 See Stm 3 R 19 Depreciation (attach O Interest P E 18 Taxes (attach schedule)(see instrs) R A A T T schedule) and depletion I I N 20 Occupancy V G E Travel, conferences, and meetings A E 22 N 23 D P E N S E S a Printing and publications Other expenses (attach schedule) Total operating and administrative expenses. Add lines 13 through Contributions, gifts, grants paid Total expenses and disbursements. Add lines 24 and Subtract line 26 from line 12: See Statement 4 Excess of revenue over expenses and disbursements b Net investment income (if negative, enter -0-)... c Adjusted net income (if negative, enter -0-).... BAA For Paperwork Reduction Act Notice, see instructions. FILE COPY N/A 1,650,117. 1,650, , ,092. 2,289, ,289, ,25 80,25 17, , , , , , , ,00 27, ,086. 2,485. 2, ,252. 8, ,56 57, ,795. Part V 1,965,00 1,965,00 2,200,56 57,765. 2,112, ,682. 2,231,477. TEEA0504L 12/16/16 Form 990-PF (2016)

2 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 2 Part II Balance Sheets Attached schedules and amounts in the description Beginning of year End of year column should be for end-of-year amounts only. (See instructions.) (a) Book Value (b) Book Value (c) Fair Market Value 1 Cash ' non-interest-bearing Savings and temporary cash investments , , , Accounts receivable G Less: allowance for doubtful accounts G 4 Pledges receivable Less: allowance for doubtful accounts G 5 Grants receivable Receivables due from officers, directors, trustees, and other 6 disqualified persons (attach schedule) (see instructions) G FILE COPY 7 Other notes and loans receivable (attach sch)... G A Less: allowance for doubtful accounts G S S 8 Inventories for sale or use E 9 Prepaid expenses and deferred charges T S 10a Investments ' U.S. and state government obligations (attach schedule) b Investments ' corporate stock (attach schedule).. Statement c Investments ' corporate bonds (attach schedule) Investments ' land, buildings, and equipment: basis G Less: accumulated depreciation (attach schedule) G 12 Investments ' mortgage loans Investments ' other (attach schedule) Land, buildings, and equipment: basisg 15 Less: accumulated depreciation (attach schedule) G Other assets (describe G ) 16 Total assets (to be completed by all filers ' see the instructions. Also, see page 1, item I) L 17 Accounts payable and accrued expenses I 18 Grants payable A B 19 Deferred revenue I 20 Loans from officers, directors, trustees, & other disqualified persons L I 21 Mortgages and other notes payable (attach schedule) T I 22 Other liabilities (describe G ) E S 23 Total liabilities (add lines 17 through 22) Foundations that follow SFAS 117, check here G and complete lines 24 through 26 and lines 30 and , , ,521. 1,155,036. 1,143, ,277,713. 1,306,134. 1,394,90 49,528, N F 24 Unrestricted E U T N 25 Temporarily restricted D 26 Permanently restricted A Foundations that do not follow SFAS 117, check here... G S B S A and complete lines 27 through 31. E L 27 Capital stock, trust principal, or current funds T A S N 28 Paid-in or capital surplus, or land, bldg., and equipment fund C 29 Retained earnings, accumulated income, endowment, or other funds O E R S 30 Total net assets or fund balances (see instructions) Total liabilities and net assets/fund balances (see instructions) Part III Analysis of Changes in Net Assets or Fund Balances 1,306,134. 1,394,816. 1,306,134. 1,394,816. 1,306,134. 1,394,90 1 Total net assets or fund balances at beginning of year ' Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year's return) Enter amount from Part I, line 27a Other increases not included in line 2 (itemize) G 3 1,306, , Add lines 1, 2, and ,394, Decreases not included in line 2 (itemize) G 5 6 Total net assets or fund balances at end of year (line 4 minus line 5) ' Part II, column (b), line ,394,816. BAA TEEA0302L 12/16/16 Form 990-PF (2016)

3 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 3 Part IV Capital Gains and Losses for Tax on Investment Income (a) List and describe the kind(s) of property sold (e.g., real estate, (b) How acquired (c) Date acquired (d) Date sold 2-story brick warehouse; or common stock, 200 shares MLC Company) P ' Purchase (mo., day, yr.) (mo., day, yr.) 1 a Publicly traded securities b c d e a b c d e a b c d e (e) Gross sales price D ' Donation (f) Depreciation allowed (g) Cost or other basis (h) Gain or (loss) (or allowable) plus expense of sale (e) plus (f) minus (g) Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (i) F.M.V. as of 12/31/69 (j) Adjusted basis as of 12/31/69 2 Capital gain net income or (net capital loss) Net short-term capital gain or (loss) as defined in sections 1222(5) and (6): (k) Excess of col. (i) over col. (j), if any If gain, also enter in Part I, line If (loss), enter -0- in Part I, line 7 2 If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line Part V Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income (For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.) If section 4940(d)(2) applies, leave this part blank. (l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col. (h)) Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No If 'Yes,' the foundation does not qualify under section 4940(e). Do not complete this part. 1 Enter the appropriate amount in each column for each year; see the instructions before making any entries. (a) (b) (c) (d) Base period years Adjusted qualifying distributions Net value of Distribution ratio Calendar year (or tax year noncharitable-use assets (col. (b) divided by col. (c)) beginning in) FILE COPY 650, ,34 639,092. 3,806,426. 2,696,379. 2,368,586. 2,462,375. 2,239,50 47,201, ,619, ,074, ,638, ,295, , , Total of line 1, column (d) Average distribution ratio for the 5-year base period ' divide the total on line 2 by 5, or by the 3 number of years the foundation has been in existence if less than 5 years Enter the net value of noncharitable-use assets for 2016 from Part, line Multiply line 4 by line Enter 1% of net investment income (1% of Part I, line 27b) Add lines 5 and ,354,189. 2,494, ,315. 2,516,65 8 Enter qualifying distributions from Part II, line If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions. BAA TEEA0303L 12/16/16 2,112,795. Form 990-PF (2016)

4 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 4 Part VI Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 ' see instructions) 1 a Exempt operating foundations described in section 4940(d)(2), check here G and enter 'N/A' on line 1. Date of ruling or determination letter: (attach copy of letter if necessary ' see instructions) b Domestic foundations that meet the section 4940(e) requirements in Part V,.. 1 check here. G and enter 1% of Part I, line 27b c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b) Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) Add lines 1 and Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter Credits/Payments: a 2016 estimated tax pmts and 2015 overpayment credited to a 47,521. b Exempt foreign organizations ' tax withheld at source b c Tax paid with application for extension of time to file (Form 8868) c d Backup withholding erroneously withheld d 7 Total credits and payments. Add lines 6a through 6d Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed G 9 10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid G Enter the amount of line 10 to be: Credited to 2017 estimated tax G Refunded G. 11 Part VII-A Statements Regarding Activities During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it 1 a participate or intervene in any political campaign? a Did it spend more than $100 during the year (either directly or indirectly) for political purposes b (see Instructions for the definition)? If the answer is 'Yes' to 1a or 1b, attach a detailed description of the activities and copies of any materials published or distributed by the foundation in connection with the activities. c Did the foundation file Form 1120-POL for this year? c d Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year: (1) On the foundation..... G$ (2) On foundation managers G$ e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation managers G$ 2 Has the foundation engaged in any activities that have not previously been reported to the IRS? If 'Yes,' attach a detailed description of the activities. 3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments? If 'Yes,' attach a conformed copy of the changes a Did the foundation have unrelated business gross income of $1,000 or more during the year? a b If 'Yes,' has it filed a tax return on Form 990-T for this year? Was there a liquidation, termination, dissolution, or substantial contraction during the year? If 'Yes,' attach the statement required by General Instruction T. Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:? By language in the governing instrument, or FILE COPY? By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law remain in the governing instrument? Did the foundation have at least $5,000 in assets at any time during the year? If 'Yes,' complete Part II, col. (c), and Part V a Enter the states to which the foundation reports or with which it is registered (see instructions) G T b If the answer is 'Yes' to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state as required by General Instruction G? If 'No,' attach explanation Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2016 or the taxable year beginning in 2016 (see instructions for Part IV)? If 'Yes,' complete Part IV Did any persons become substantial contributors during the tax year? If 'Yes,' attach a schedule listing their names and addresses BAA Form 990-PF (2016) 1 b 4 b 8 b 44,63 44,63 44,63 47,521. 2,891. 2,891. Yes No N/A TEEA0304L 12/16/16

5 FILE COPY Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 5 Part VII-A Statements Regarding Activities (continued) Yes No 11 At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)? If 'Yes,' attach schedule (see instructions) Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges? If 'Yes,' attach statement (see instructions) Did the foundation comply with the public inspection requirements for its annual returns and exemption application? Website address G 14 The books are in care of G Pat Stilley Telephone no. G Located at G 5850 San Felipe, Ste 125 Houston T ZIP + 4 G Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 ' Check here G and enter the amount of tax-exempt interest received or accrued during the year G At any time during calendar year 2016, did the foundation have an interest in or a signature or other authority over a bank, securities, or other financial account in a foreign country? See the instructions for exceptions and filing requirements for FinCEN Form 114. If 'Yes,' enter the name of the foreign country G Part VII-B Statements Regarding Activities for Which Form 4720 May Be Required File Form 4720 if any item is checked in the 'Yes' column, unless an exception applies. Yes No 1 a During the year did the foundation (either directly or indirectly): (1) Engage in the sale or exchange, or leasing of property with a disqualified person? Yes No (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? Yes No (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? Yes No (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? Yes No (5) Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? Yes No Yes No (6) Agree to pay money or property to a government official? (Exception. Check 'No' if the foundation agreed to make a grant to or to employ the official for a period after termination of government service, if terminating within 90 days.) Yes No b If any answer is 'Yes' to 1a(1)'(6), did any of the acts fail to qualify under the exceptions described in Regulations section (d)-3 or in a current notice regarding disaster assistance (see instructions)? Organizations relying on a current notice regarding disaster assistance check here Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts, c that were not corrected before the first day of the tax year beginning in 2016? Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a 2 private operating foundation defined in section 4942(j)(3) or 4942(j)(5)): G 1 b 1 c a At the end of tax year 2016, did the foundation have any undistributed income (lines 6d and 6e, Part III) for tax year(s) beginning before 2016? Yes No If 'Yes,' list the years G 20, 20, 20, 20 b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income? (If applying section 4942(a)(2) to all years listed, answer 'No' and attach statement ' see instructions.) c If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here. G 20, 20, 20, 20 3 a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? Yes No b If 'Yes,' did it have excess business holdings in 2016 as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine if the foundation had excess business holdings in 2016.) Did the foundation invest during the year any amount in a manner that would jeopardize its 4 a charitable purposes? a 2 b 3 b N/A N/A b Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2016? b BAA Form 990-PF (2016) TEEA0305L 12/16/16

6 FILE COPY Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 6 Part VII-B Statements Regarding Activities for Which Form 4720 May Be Required (continued) 5 a During the year did the foundation pay or incur any amount to: (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? Yes No (2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? Yes No (3) Provide a grant to an individual for travel, study, or other similar purposes? Yes No (4) Provide a grant to an organization other than a charitable, etc., organization described in section 4945(d)(4)(A)? (see instructions) Yes No (5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? Yes No b If any answer is 'Yes' to 5a(1)'(5), did any of the transactions fail to qualify under the exceptions described in Regulations section or in a current notice regarding disaster assistance (see instructions)? Organizations relying on a current notice regarding disaster assistance check here c If the answer is 'Yes' to question 5a(4), does the foundation claim exemption from the tax because it maintained expenditure responsibility for the N/A grant? Yes No If 'Yes,' attach the statement required by Regulations section '5(d). 6 a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract? Yes No b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? If 'Yes' to 6b, file Form a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?... Yes No b If 'Yes,' did the foundation receive any proceeds or have any net income attributable to the transaction? N/A b Part VIII Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors 1 List all officers, directors, trustees, foundation managers and their compensation (see instructions). (b) Title, and average (c) Compensation (d) Contributions to (a) Name and address hours per week (If not paid, employee benefit devoted to position enter -0-) plans and deferred compensation See Statement 6 G 5 b 6 b N/A (e) Expense account, other allowances 80 2 Compensation of five highest-paid employees (other than those included on line 1 ' see instructions). If none, enter 'NONE.' (b) Title, and average (d)contributions to (a) Name and address of each employee (e) (c) employee benefit Expense account, paid more than $50,000 hours per week Compensation plans and deferred other allowances devoted to position compensation None Total number of other employees paid over $50, G 0 BAA TEEA0306L 12/16/16 Form 990-PF (2016)

7 FILE COPY Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 7 Part VIII Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees, and Contractors (continued) 3 Five highest-paid independent contractors for professional services (see instructions). If none, enter 'NONE.' (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation None Total number of others receiving over $50,000 for professional services G Part I-A Summary of Direct Charitable Activities 0 List the foundation's four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. 1 N/A Expenses Part I-B Summary of Program-Related Investments (see instructions) Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. 1 Amount 2 N/A All other program-related investments. See instructions. 3 Total. Add lines 1 through G BAA Form 990-PF (2016) TEEA0307L 12/16/16

8 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 8 Part Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.) Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes: 1 a Average monthly fair market value of securities a b Average of monthly cash balances c Fair market value of all other assets (see instructions) d Total (add lines 1a, b, and c) d e Reduction claimed for blockage or other factors reported on lines 1a and 1c (attach detailed explanation) e 2 Acquisition indebtedness applicable to line 1 assets Subtract line 2 from line 1d Cash deemed held for charitable activities. Enter 1-1/2% of line 3 (for greater amount, see instructions) Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line Minimum investment return. Enter 5% of line Part I Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here G and do not complete this part.) 1 Minimum investment return from Part, line a Tax on investment income for 2016 from Part VI, line a 44,63 b Income tax for (This does not include the tax from Part VI.) b c Add lines 2a and 2b c 3 Distributable amount before adjustments. Subtract line 2c from line Recoveries of amounts treated as qualifying distributions Add lines 3 and Deduction from distributable amount (see instructions) Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part III, line Part II Qualifying Distributions (see instructions) FILE COPY 1 b 1 c 47,763, ,96 48,075, ,075, ,13 47,354,189. 2,367,709. 2,367, ,63 2,323,079. 2,323,079. 2,323,079. Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes: 1 a Expenses, contributions, gifts, etc. ' total from Part I, column (d), line a b Program-related investments ' total from Part I-B Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc., purposes Amounts set aside for specific charitable projects that satisfy the: 3 a Suitability test (prior IRS approval required) a b Cash distribution test (attach the required schedule) Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part III, line Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment income. Enter 1% of Part I, line 27b (see instructions) b 3 b 2,112,795. 2,112, Adjusted qualifying distributions. Subtract line 5 from line Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section 4940(e) reduction of tax in those years. 2,112,795. BAA Form 990-PF (2016) TEEA0308L 12/16/16

9 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 9 Part III Undistributed Income (see instructions) FILE COPY (a) (b) (c) (d) Corpus Years prior to Distributable amount for 2016 from Part I, 1 line Undistributed income, if any, as of the end of 2016: a Enter amount for 2015 only b Total for prior years: 20, 20, 20 3 Excess distributions carryover, if any, to 2016: a From b From c From d From e From f Total of lines 3a through e Qualifying distributions for 2016 from Part II, line 4: G $ 2,112,795. a Applied to 2015, but not more than line 2a... b Applied to undistributed income of prior years (Election required ' see instructions) Treated as distributions out of corpus c (Election required ' see instructions) d Applied to 2016 distributable amount e Remaining amount distributed out of corpus. 5 Excess distributions carryover applied to (If an amount appears in column (d), the same amount must be shown in column (a).) 818,78 818,78 2,323,079. 1,294, Enter the net total of each column as indicated below: Corpus. Add lines 3f, 4c, and 4e. Subtract line a Prior years' undistributed income. Subtract b line 4b from line 2b c Enter the amount of prior years' undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed d Subtract line 6c from line 6b. Taxable amount ' see instructions e Undistributed income for Subtract line 4a from line 2a. Taxable amount ' see instructions Undistributed income for Subtract lines f 4d and 5 from line 1. This amount must be distributed in Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required ' see instructions) Excess distributions carryover from 2011 not 8 applied on line 5 or line 7 (see instructions). 9 Excess distributions carryover to Subtract lines 7 and 8 from line 6a Analysis of line 9: a Excess from b Excess from c Excess from d Excess from e Excess from ,029,064. BAA Form 990-PF (2016) TEEA0309L 12/16/16

10 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 10 Part IV Private Operating Foundations (see instructions and Part VII-A, question 9) N/A 1 a If the foundation has received a ruling or determination letter that it is a private operating foundation, and the ruling is effective for 2016, enter the date of the ruling G b Check box to indicate whether the foundation is a private operating foundation described in section 4942(j)(3) or 4942(j)(5) 2 a Enter the lesser of the adjusted net Tax year Prior 3 years income from Part I or the minimum (e) Total investment return from Part for (a) 2016 (b) 2015 (c) 2014 (d) 2013 each year listed b 85% of line 2a c Qualifying distributions from Part II, line 4 for each year listed Amounts included in line 2c not used directly d for active conduct of exempt activities Qualifying distributions made directly e for active conduct of exempt activities. Subtract line 2d from line 2c Complete 3a, b, or c for the 3 alternative test relied upon: a 'Assets' alternative test ' enter: (1) Value of all assets (2) Value of assets qualifying under section 4942(j)(3)(B)(i) 'Endowment' alternative test ' enter 2/3 of b minimum investment return shown in Part, line 6 for each year listed c 'Support' alternative test ' enter: (1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) FILE COPY (2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) (3) Largest amount of support from an exempt organization (4) Gross investment income Part V Supplementary Information (Complete this part only if the foundation had $5,000 or more in assets at any time during the year ' see instructions.) 1 Information Regarding Foundation Managers: a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).) None b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or other entity) of which the foundation has a 10% or greater interest. None 2 Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs: Check here G if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d. a The name, address, and telephone number or address of the person to whom applications should be addressed: See Statement 7 b The form in which applications should be submitted and information and materials they should include: See Statement for Line 2a c Any submission deadlines: See Statement for Line 2a d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors: BAA See Statement for Line 2a TEEA0310L 12/16/16 Form 990-PF (2016)

11 FILE COPY Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 11 Part V Supplementary Information (continued) 3 Grants and Contributions Paid During the Year or Approved for Future Payment If recipient is an individual, Recipient show any relationship to Foundation status of Purpose of grant or any foundation manager Amount recipient contribution Name and address (home or business) or substantial contributor a Paid during the year See attachment N/A PC See attachment 1,965,00 Total G b Approved for future payment 3 a 1,965,00 Total BAA TEEA0501L 12/16/16 G 3 b Form 990-PF (2016)

12 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 12 Part VI-A Analysis of Income-Producing Activities Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e) (a) (b) (c) (d) Related or exempt Business Amount Exclu- Amount function income code sion (See instructions.) 1 Program service revenue: code a b c d e f g Fees and contracts from government agencies... 2 Membership dues and assessments Interest on savings and temporary cash investments Dividends and interest from securities Net rental income or (loss) from real estate: a Debt-financed property b Not debt-financed property a b c d Net rental income or (loss) from personal property Other investment income Gain or (loss) from sales of assets other than inventory.... Net income or (loss) from special events Gross profit or (loss) from sales of inventory..... Other revenue: e 12 Subtotal. Add columns (b), (d), and (e) ,289, Total. Add line 12, columns (b), (d), and (e) (See worksheet in line 13 instructions to verify calculations.) Part VI-B Relationship of Activities to the Accomplishment of Exempt Purposes Line No. I N/A FILE COPY ,650, ,092. Explain below how each activity for which income is reported in column (e) of Part VI-A contributed importantly to the accomplishment of the foundation's exempt purposes (other than by providing funds for such purposes). (See instructions.) 2,289,242. BAA TEEA0502L 12/16/16 Form 990-PF (2016)

13 Form 990-PF (2016) Isla Carroll Turner Friendship Trust Page 13 Part VII Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations Did the organization directly or indirectly engage in any of the following with any other organization 1 described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations? FILE COPY a Transfers from the reporting foundation to a noncharitable exempt organization of: (1) Cash a (1) (2) Other assets a (2) b Other transactions: (1) Sales of assets to a noncharitable exempt organization b (1) (2) Purchases of assets from a noncharitable exempt organization b (2) (3) Rental of facilities, equipment, or other assets b (3) (4) Reimbursement arrangements b (4) (5) Loans or loan guarantees b (5) (6) Performance of services or membership or fundraising solicitations b (6) c Sharing of facilities, equipment, mailing lists, other assets, or paid employees c d If the answer to any of the above is 'Yes,' complete the following schedule. Column (b) should always show the fair market value of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received. (a) Line no. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements N/A Yes No 2 a Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527? Yes No b If 'Yes,' complete the following schedule. (a) Name of organization (b) Type of organization (c) Description of relationship N/A Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign May the IRS discuss this return with the Here A preparer shown below Executive Director (see instructions)? Signature of officer or trustee Date Title Yes No Print/Type preparer's name Preparer's signature Date Check if PTIN Paid Jody Blazek self-employed P Preparer Firm's name G Blazek & Vetterling Firm's EIN G Use Only Firm's address G 2900 Weslayan, Suite 200 Houston, T Phone no. (713) BAA Form 990-PF (2016) TEEA0503L 12/16/16

14 Form 2220 Department of the Treasury Internal Revenue Service Name Underpayment of Estimated Tax by Corporations OMB No G Attach to the corporation's tax return G Information about Form 2220 and its separate instructions is at Employer identification number Isla Carroll Turner Friendship Trust Note: Generally, the corporation isn't required to file Form 2220 (see Part II below for exceptions) because the IRS will figure any penalty owed and bill the corporation. However, the corporation may still use Form 2220 to figure the penalty. If so, enter the amount from page 2, line 38 on the estimated tax penalty line of the corporation's income tax return, but do not attach Form 222 Part I Required Annual Payment 1 Total tax (see instructions) a Personal holding company tax (Schedule PH (Form 1120), line 26) included on line b Look-back interest included on line 1 under section 460(b)(2) for completed long-term contracts or section 167(g) for depreciation under the income forecast method c Credit for federal tax paid on fuels (see instructions) c d Total. Add lines 2a through 2c d 3 Subtract line 2d from line 1. If the result is less than $500, do not complete or file this form. The corporation doesn't owe the penalty ,63 4 Enter the tax shown on the corporation's 2015 income tax return. See instructions. Caution: If the tax is zero or the tax year was for less than 12 months, skip this line and enter the amount from line 3 on line , Required annual payment. Enter the smaller of line 3 or line 4. If the corporation is required to skip line 4, enter the amount from line ,603. Part II Reasons for Filing ' Check the boxes below that apply. If any boxes are checked, the corporation must file Form 2220 even if it doesn't owe a penalty. See instructions. 6 The corporation is using the adjusted seasonal installment method. 7 The corporation is using the annualized income installment method. 8 The corporation is a 'large corporation' figuring its first required installment based on the prior year's tax. Part III 9 Figuring the Underpayment Installment due dates. Enter in columns (a) through (d) the 15th day of the 4th (Form 990-PF filers: Use 5th month), 6th, 9th, and 12th months of the corporation's tax year Required installments. If the box on line 6 and/or line 7 above is checked, enter the amounts from Schedule A, line 38. If the box on line 8 (but not 6 or 7) is checked, see instructions for the amounts to enter. If none of these boxes are checked, enter 25% (25) of line 5 above in each column Estimated tax paid or credited for each period. For column (a) only, enter the amount from line 11 on line 15. See instructions Complete lines 12 through 18 of one column before going to the next column. 12 Enter amount, if any, from line 18 of the preceding column Add lines 11 and Add amounts on lines 16 and 17 of the preceding column Subtract line 14 from line 13. If zero or less, enter If the amount on line 15 is zero, subtract line 13 from 17 line 14. Otherwise, enter Underpayment. If line 15 is less than or equal to line 16 10, subtract line 15 from line 1 Then go to line 12 of 18 the next column. Otherwise, go to line Overpayment. If line 10 is less than line 15, subtract 17 line 10 from line 15. Then go to line 12 of the next column a 2 b (a) (b) (c) (d) 17,491. 1,788. 3,63 Go to Part IV on page 2 to figure the penalty. Do not go to Part IV if there are no entries on line 17 ' no penalty is owed. BAA For Paperwork Reduction Act Notice, see separate instructions. FILE COPY 44,63 5/15/16 6/15/16 9/15/16 12/15/ ,703. 8,158. 8, , ,00 20,00 17,491. 1,788. 3,63 17, , ,63 17, , , ,63 CPCZ0312L 09/08/16 Form 2220 (2016)

15 Form 2220 (2016) Isla Carroll Turner Friendship Trust Part IV Figuring the Penalty 19 Enter the date of payment or the 15th day of the 4th month after the close of the tax year, whichever is earlier. (C Corporations with tax years ending June 30 and S corporations: Use 3rd month instead of 4th month. Form 990-PF and Form 990-T filers: Use 5th month instead of 4th month.) See instructions Number of days from due date of installment on line 9 to the date shown on line Number of days on line 20 after 4/15/2016 and before 7/1/ Underpayment Number of days x x on line 17 on line 21 4% (04) Number of days on line 20 after 6/30/2016 and before 10/1/ Underpayment on line Number of days x on line 23 x 4% (04) Number of days on line 20 after 9/30/2016 and before 1/1/ Underpayment Number of days x on line 25 x 4% (04) on line Number of days on line 20 after 12/31/2016 and before 4/1/ Underpayment on line Number of days x on line 27 x 4% (04) Number of days on line 20 after 3/31/2017 and before 7/1/ Underpayment on line 17 x 29 Number of days on line 29 x *% Number of days on line 20 after 6/30/2017 and before 10/1/ Underpayment on line Number of days x on line 31 x *% Number of days on line 20 after 9/30/2017 and before 1/1/ Underpayment on line Number of days x on line 33 x *% Number of days on line 20 after 12/31/2017 and before 3/16/ Underpayment on line Number of days x on line 35 x *% Add lines 22, 24, 26, 28, 30, 32, 34, and FILE COPY (a) (b) (c) (d) Penalty. Add columns (a) through (d) of line 37. Enter the total here and on Form 1120, line 33; or the comparable line for other income tax returns *Use the penalty interest rate for each calendar quarter, which the IRS will determine during the first month in the preceding quarter. These rates are published quarterly in an IRS News Release and in a revenue ruling in the Internal Revenue Bulletin. To obtain this information on the Internet, access the IRS website at You can also call to get interest rate information. Page 2 CPCZ0312L 12/12/16 Form 2220 (2016)