2018-07-18T12:13:29-05:00 2017-12-31 860683059 BEACHFLEISCHMAN PC 1985 E RIVER ROAD SUITE 201 TUCSON AZ 85718 990 2017-01-01 042007327 PERCIVAL LOWELL TRUST UW PERC 9287743358 1400 W MARS HILL ROAD FLAGSTAFF AZ 86001 W LOWELL PUTNAM TRUSTEE 9287743358 2018-07-06 1 KAREN K MCCLOSKEY CPA P00099644 5203214600 2017 2022-09-23 18:48:47Z W LOWELL PUTNAM 1400 W MARS HILL ROAD FLAGSTAFF AZ 86001 43941178 0 X N/A X 1916 AZ A TRUST ESTABLISHED FOR THE BENEFIT OF LOWELL OBSERVATORY. 1 0 0 0 0 0 0 0 0 0 1813507 2643755 0 0 1813507 2643755 700000 11650000 0 0 0 0 0 0 0 109630 136475 809630 11786475 1003877 -9142720 36332325 28452867 2323 3514 36330002 28449353 A TRUST ESTABLISHED FOR THE BENEFIT OF LOWELL OBSERVATORY. 0 0 11650000 11650000 THE TRUST WAS ESTABLISHED FOR THE BENEFIT OF LOWELL OBSERVATORY TO PROVIDE FUNDING TO CONDUCT ASTRONOMICAL RESEARCH AND SPONSOR EDUCATIONAL PROGRAMS RELATED TO ASTRONOMY. 11650000 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 AZ X X ANNE LABRUZZO 9282333239 1400 W MARS HILLS RD FLAGSTAFF AZ 860014470 W LOWELL PUTNAM TRUSTEE 2.00 32.00 X 0 1175 7523 0 1175 7523 0 0 0 0 BNY MELLON WEALTH MANAGEMENT 201 WASHINGTON STREET - 10TH FLOOR BOSTON MA 02108 INVESTMENT MANAGEMENT 109524 1 1075373 1075373 42865805 41297423 1568382 1568382 1568382 2643755 0 0 2643755 11650000 11650000 16951 16951 8890 8890 109524 109524 MISCELLANEOUS 1110 1110 11786475 11650000 136475 0 1392715 6203826 34639610 21499041 300000 750000 36332325 28452867 2323 3514 2323 3514 X -2323 -3514 36332325 28452867 36330002 28449353 36332325 28452867 -9142720 1262071 0 X 0 1 X 0 0 X X 1 LOWELL OBSERVATORY 860098918 7 1 11650000 0 1 11650000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 36332325 3905826 11650000 135284 28452867 35146571 1993188 700000 107434 36332325 35426854 -175457 104826 35146571 34789450 1619659 700000 282255 35426854 31065680 172843 4428648 700000 177721 34789450 0.00000 0.00000 1.00000 0 0 0 DUE TO LOWELL OBSERVATORY 3514 3514 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED FOR SUPPORT OF LOWELL OBSERVATORY AND FOR REINVESTMENT. DURING 2017, THE SOLE TRUSTEE SUCCESSFULLY PETITIONED THE COURTS TO REMOVE THE PERPETUAL RESTRICTIONS ON THE TRUST ASSETS. THE TRUST ASSETS WERE RECLASSIFIED TO TEMPORARILY RESTRICTED NET ASSETS. PART X, LINE 2: THE FOLLOWING DISCLOSURE IS RELATED TO THE COMBINED FINANCIAL STATEMENTS OF THE LOWELL OBSERVATORY, TRUST U/W OF PERCIVAL LOWELL, AND THE LOWELL OBSERVATORY FOUNDATION: THE OBSERVATORY AND THE FOUNDATION ARE EXEMPT FROM INCOME TAXES UNDER BOTH INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND ARIZONA INCOME TAX LAWS. THE OBSERVATORY IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION UNDER IRC SECTION 509(A)(1). THE FOUNDATION IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION UNDER IRC SECTION 509(A)(3) AS A SUPPORTING ORGANIZATION OF THE OBSERVATORY. THE TRUST QUALIFIES AS AN IRC SECTION 509(A)(3) SUPPORTING ORGANIZATION OF THE OBSERVATORY. NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN MADE. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE, HOWEVER, MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS TAXABLE INCOME (UBTI). GAAP REQUIRES MANAGEMENT TO PERFORM AN EVALUATION OF ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. THIS EVALUATION IS REQUIRED TO BE PERFORMED FOR ALL OPEN TAX YEARS, AS DEFINED BY THE VARIOUS STATUTES OF LIMITATIONS, FOR FEDERAL AND STATE PURPOSES. THE ORGANIZATION IS ONLY SUBJECT TO INCOME TAXES ON UBTI AS APPLICABLE. THE ORGANIZATION IS REQUIRED TO FILE INFORMATIONAL RETURNS FOR FEDERAL AND STATE PURPOSES AND, IF IT HAS UBTI, FEDERAL AND STATE INCOME TAX RETURNS. MANAGEMENT HAS PERFORMED ITS EVALUATION OF TAX POSITIONS TAKEN ON ALL OPEN TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. FROM TIME TO TIME, THE ORGANIZATION MAY BE SUBJECT TO PENALTIES AND INTEREST ASSESSED BY VARIOUS TAXING AUTHORITIES, WHICH ARE CLASSIFIED AS GENERAL AND ADMINISTRATIVE EXPENSES IF THEY OCCUR. SCHEDULE D, PART V, LINE 1C, COLUMN A CALCULATION OF CURRENT YEAR INVESTMENT GAINS/(LOSSES): NET UNREALIZED GAINS: 1,262,071 NET REALIZED GAINS: 1,568,382 INTEREST INCOME: 189,771 DIVIDEND INCOME: 885,602 NET INVESTMENT INCOME: 3,905,826 0 LOWELL OBSERVATORY 1400 W MARS HILL ROAD FLAGSTAFF AZ 860014470 860098918 501(C)(3) 11650000 GENERAL SUPPORT & DEBT PAYMENTS ON OBSERVATORY'S BEHALF. 1 PART I, LINE I THE TRUST EXISTS WITH THE SOLE PURPOSE OF SUPPORTING LOWELL OBSERVATORY, THEREFORE SELECTION CRITERIA AND ELIGIBILITY REQUIREMENTS ARE NOT APPLICABLE. SUBSTANTIATION FOR THE AMOUNTS OF GRANTS ARE KEPT WITHIN LOWELL'S INTERNAL ACCOUNTING DEPARTMENT. FORM 990, PART VI, SECTION A, LINE 4 THE PERCIVAL LOWELL TRUST UW (TRUST) WAS PREVIOUSLY CLASSIFIED AS A NON-EXEMPT TRUST WITH AN UNLIMITED EXCLUSION OF GROSS INCOME BECAUSE IT'S NET ASSETS WERE SET ASIDE FOR CHARITABLE AND SCIENTIFIC PURPOSES. DURING 2017, THE SOLE TRUSTEE SUCCESSFULLY PETITIONED THE COURT TO MODIFY THE TRUST DOCUMENT TO COMPLY WITH THE RULES GOVERNING CHARITABLE TRUSTS. AS A RESULT, IN 2017 THE TRUST FILED FORM 1023 TO APPLY FOR RECOGNITION OF EXEMPTION UNDER SECTION 501(C)(3). THE APPLICATION WAS APPROVED ON MARCH 22, 2018, WITH A RETROACTIVE EXEMPTION DATE OF MAY 8, 2017. THE TRUST IS OTHER THAN A PRIVATE FOUNDATION PURSUANT TO IRC SEC 509(A)(3), AND IS A TYPE II SUPPORT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE TRUSTEE IS RESPONSIBLE FOR NAMING THE SUCCESSOR TRUSTEE. FORM 990, PART VI, SECTION A, LINE 8A THE SOLE TRUSTEE WILL RECORD ACTIONS UNDERTAKEN FROM TIME TO TIME AS NEEDED. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE SOLE TRUSTEE/GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 DRAFT WILL BE FIRST REVIEWED BY THE DEPUTY DIRECTOR FOR ADMINISTRATION (DDA) FOR THE OBSERVATORY FOR ACCURACY. ONCE IT HAS BEEN DEEMED ACCURATE BY THE DDA IT WILL BE FORWARDED TO THE SOLE TRUSTEE AND AUDIT COMMITTEE FOR THEIR REVIEW AND COMMENTS. AFTER ANY QUESTIONS AND COMMENTS HAVE BEEN ADDRESSED IT WILL BE APPROVED AND A FINAL COPY WILL BE SIGNED BY THE SOLE TRUSTEE. FORM 990, PART VI, SECTION C, LINE 19 THE TRUST IS GOVERNED BY THE WILL OF PERCIVAL LOWELL AND EXISTS EXCLUSIVELY FOR THE BENEFIT OF LOWELL OBSERVATORY. WHEN REQUESTED, DOCUMENTS REGARDING THE TRUST ARE PROVIDED BY THE LOWELL OBSERVATORY BUSINESS OFFICE. THE 990 IS ALSO AVAILABLE ON GUIDESTAR. LOWELL OBSERVATORY 1400 W MARS HILL ROAD FLAGSTAFF AZ 86001 860098918 ASTRONOMICAL RESEARCH AND EDUCATION AZ 501(C)(3) LINE 7 TRUST UW OF PERCIVAL LOWELL 1 LOWELL OBSERVATORY FOUNDATION 1400 W MARS HILL ROAD FLAGSTAFF AZ 86001 472052113 FOUNDATION F/B/O LOWELL OBSERVATORY AZ 501(C)(3) LINE 12B, II N/A 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 LOWELL OBSERVATORY D 750000 END OF YEAR BALANCE LOWELL OBSERVATORY E 3514 END OF YEAR BALANCE LOWELL OBSERVATORY B 11650000 CASH VALUE