Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2018
Open to Public Inspection
For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018
Name of foundation
THE KENTLAND FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)KENTLAND FARMS PO BOX 879
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
BERRYVILLE, VA22611
A Employer identification number

52-6070323
B Telephone number (see instructions)

(540) 955-1082
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$22,851,967J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 16 16  
4 Dividends and interest from securities... 19,939 19,939  
5a Gross rents............ 2,846,937 1,263,968  
b Net rental income or (loss) 1,309,337
6a Net gain or (loss) from sale of assets not on line 10 50,531
b Gross sales price for all assets on line 6a 445,795
7 Capital gain net income (from Part IV, line 2)... 50,531
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 152 152  
12 Total. Add lines 1 through 11........ 2,917,575 1,334,606  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 594,640 202,177   303,266
14 Other employee salaries and wages...... 283,271 105,326   135,455
15 Pension plans, employee benefits....... 230,278 81,327   114,409
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 1,730 865   865
c Other professional fees (attach schedule).... Click to see attachment 6,300 6,300    
17 Interest............... 251,756      
18 Taxes (attach schedule) (see instructions)... Click to see attachment 9,099 9,099    
19 Depreciation (attach schedule) and depletion... Click to see attachment 58,023    
20 Occupancy.............. 71,815 24,417   36,626
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 1,588,472 749,988   9,559
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,095,384 1,179,499   600,180
25 Contributions, gifts, grants paid....... 354,500 354,500
26 Total expenses and disbursements. Add lines 24 and 25 3,449,884 1,179,499   954,680
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -532,309
b Net investment income (if negative, enter -0-) 155,107
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2018)
Form 990-PF (2018)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 187,235 168,736 168,736
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 54,843    
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 379,493 Click to see attachment326,205 322,736
11 Investments—land, buildings, and equipment: basis bullet24,668,538
Less: accumulated depreciation (attach schedule) bullet17,384,559 7,884,749 Click to see attachment7,283,979 17,938,991
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 1,127,430 Click to see attachment549,623 584,301
14 Land, buildings, and equipment: basis bullet4,242,628
Less: accumulated depreciation (attach schedule) bullet661,536 3,639,115 Click to see attachment3,581,092 3,800,000
15 Other assets (describe bullet) Click to see attachment34,489 Click to see attachment103,436 Click to see attachment37,203
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 13,307,354 12,013,071 22,851,967
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)...... 4,342,223 Click to see attachment3,561,384
22 Other liabilities (describe bullet) Click to see attachment42,077 Click to see attachment43,477
23 Total liabilities (add lines 17 through 22)......... 4,384,300 3,604,861
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted..................    
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 8,923,054 8,408,210
30 Total net assets or fund balances (see instructions)..... 8,923,054 8,408,210
31 Total liabilities and net assets/fund balances (see instructions). 13,307,354 12,013,071
Part III
Analysis of Changes in Net Assets or Fund Balances
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) ...............
1
8,923,054
2
Enter amount from Part I, line 27a .....................
2
-532,309
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
17,465
4
Add lines 1, 2, and 3 ..........................
4
8,408,210
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
8,408,210
Form 990-PF (2018)
Form 990-PF (2018)
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,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a 924.556 SHS AMER BALANCED FD P 2012-04-05 2018-12-04
b 110.323 SHS HARDING LOEVNER INT'L P 2017-01-25 2018-07-02
c 1,588.646 SHS CAPITAL WORLD GROWTH P 2012-04-05 2018-12-04
d 343.216 SHS HARDING LOEVNER INT'L P 2017-01-25 2018-11-29
e 50,000 VIRGINIA ST G/O UNLTD P 2012-04-05 2018-06-01
50,000 IBM CORP 1.25% P 2013-11-26 2018-02-08
140.432 SHS FORWARD SALIENT INTERNTL P 2018-06-01 2018-09-18
38 SHS CEF ISHARES TR P 2017-01-25 2018-11-29
190.637 SHS HARBOR LARGE CAP P 2018-07-02 2018-11-29
47.104 SHS LAZARD EMERGING MARKETS P   2018-07-02
31 SHS ISHARES S&P MIDCAP P 2018-09-18 2018-11-29
564.226 SHS CLEARBRIDGE MID CAP P 2016-02-05 2018-09-18
5 SHS ISHARES MSCI EAFE SMALL CAP P 2018-09-18 2018-11-29
25,000 MCDONALDS CORP 5.35% P 2013-11-18 2018-03-01
72.695 SHS CLEARBRIDGE MID CAP P 2018-07-02 2018-09-18
25,000 ORACLE CORP 5.75% P 2012-08-23 2018-04-15
335.643 SHS VANGUARD DEVELOPED MKTS P 2018-09-18 2018-11-29
41.7 SHS OPPENHEIMER DEVELOPING MKT P 2013-01-08 2018-07-02
407.535 SHS ALGER CAPITAL APPRECIATI P   2018-11-29
50,000 SHELL INTERNATIONAL FIN P 2016-09-16 2018-12-03
247.672 SHS ARTISAN INTERNATIONAL SM P   2018-06-01
25,000 CATERPILLAR FIN SERV CRP P 2012-12-11 2018-04-15
13.926 SHS HARBOR INTERNATIONAL P 2017-01-25 2018-07-02
219.537 SHS HARBOR INTERNATIONAL P 2017-01-25 2018-09-18
803.662 SHS HARBOR LARGE CAP VALUE P 2017-01-25 2018-11-29
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 25,000   18,084 6,916
b 2,472   2,077 395
c 75,000   55,603 19,397
d 7,112   6,463 649
e 50,000   54,843 -4,843
50,000   50,000  
2,956   3,053 -97
2,993   2,634 359
2,816   2,844 -28
825   717 108
5,786   6,331 -545
21,858   15,979 5,879
281   314 -33
25,000   25,102 -102
2,816   2,689 127
25,000   26,368 -1,368
4,300   4,649 -349
1,754   1,467 287
14,309   9,860 4,449
49,370   49,854 -484
5,815   5,601 214
25,000   25,971 -971
915   850 65
14,035   13,406 629
11,870   10,505 1,365
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       6,916
b       395
c       19,397
d       649
e       -4,843
       
      -97
      359
      -28
      108
      -545
      5,879
      -33
      -102
      127
      -1,368
      -349
      287
      4,449
      -484
      214
      -971
      65
      629
      1,365
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 50,531
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 -925
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.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
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 instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2017 624,210 18,605,664 0.033549
2016 701,055 17,789,439 0.039408
2015 726,283 17,612,893 0.041236
2014 726,107 17,434,181 0.041648
2013 712,307 17,440,460 0.040842
2
Total of line 1, column (d) .....................
2
0.196683
3
Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......
3
0.039337
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
19,142,408
5
Multiply line 4 by line 3......................
5
753,005
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
1,551
7
Add lines 5 and 6........................
7
754,556
8
Enter qualifying distributions from Part XII, line 4,.............
8
954,680
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.
Form 990-PF (2018)
Form 990-PF (2018)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
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, check 1 1,551
hereBulletand 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)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 1,551
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,551
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a  
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 66
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 1,617
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet   RefundedBullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
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?.....................
1c
 
 
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • 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?................
    6
    Yes
     
    7
    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 XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletVA
    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 .
    8b
    Yes
     
    9
    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 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 .............
    11
     
    No
    12
    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.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletLEO J WALKER Telephone no.bullet (540) 955-1082

    Located atbulletKENTLAND FARMS PO BOX 879BERRYVILLEVA ZIP+4bullet22611
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet  
    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
    1a
    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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?...............
    (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.).......
    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 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
    No
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2018?.............
    1c
     
     
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2018, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2018?.............
    If "Yes," list the years bullet20, 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.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2018 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 2018.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    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 2018?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    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 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
     
    .........bullet
    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 grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    LEO J WALKER PRESIDENT
    40.00     		162,760 26,969 0
    PO BOX 879
    BERRYVILLE,VA22611
    SHEILA O STEDMAN VICE PRESIDE
    40.00     		162,760 25,917 0
    PO BOX 879
    BERRYVILLE,VA22611
    ALEXANDRA WALKER SECRETARY
    40.00     		142,850 23,098 0
    PO BOX 879
    BERRYVILLE,VA22611
    WILLIAM B WALKER TREASURER
    40.00     		126,270 25,322 0
    PO BOX 879
    BERRYVILLE,VA22611
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    JULIANA M MACDOWELL ASST TREASUR
    40.00     		92,257 23,811  
    PO BOX 879
    BERRYVILLE,VA22611
    HELENE W MCCARRON ASST TO PRES
    40.00     		85,633 25,958  
    PO BOX 879
    BERRYVILLE,VA22611
    CELESTE W BARSTIS ASST SECRETA
    40.00     		79,620 17,200  
    PO BOX 879
    BERRYVILLE,VA22611
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    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.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    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. Expenses
    1  
    2  
    3  
    4  
    Part IX-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. Amount
    1 N/A  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    1,396,117
    b
    Average of monthly cash balances.......................
    1b
    184,240
    c
    Fair market value of all other assets (see instructions)................
    1c
    21,776,877
    d
    Total (add lines 1a, b, and c).........................
    1d
    23,357,234
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    3,923,317
    3
    Subtract line 2 from line 1d.........................
    3
    19,433,917
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    291,509
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    19,142,408
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    957,120
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    957,120
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    1,551
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    1,551
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    955,569
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    955,569
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    955,569
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    954,680
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    954,680
    5
    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.................
    5
    1,551
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    953,129
    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.
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2017     		(c)
    2017     		(d)
    2018
    1 Distributable amount for 2018 from Part XI, line 7 955,569
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 901,672
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........  
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 954,680
    a Applied to 2017, but not more than line 2a 901,672
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		 
    d Applied to 2018 distributable amount..... 53,008
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2018.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5  
    b Prior years’ undistributed income. Subtract
    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 2017. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2018. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2019 ..........     		902,561
    7 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) .......     		 
    8 Excess distributions carryover from 2013 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9Excess distributions carryover to 2019.
    Subtract lines 7 and 8 from line 6a ......     		 
    10 Analysis of line 9:
    a Excess from 2014....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2018 (b) 2017 (c) 2016 (d) 2015
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    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)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, 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) ....     		         
    (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 XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList 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
    bList 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
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACADEMY OF THE HOLY CROSS
    4920 STRATHMORE AVE
    KENSINGTON,MD20895     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 5,000
    CARDINAL'S APPEAL ARCHDIOCESE OF W
    PO BOX 98076
    WASHINGTON,DC200908076     		NONE 509(A)(1) GENERAL CHARITABLE ACTIVITY OF ARCHD 10,000
    CLARK COUNTY SHERIFF'S OFFICE
    100 NORTH CHURCH STREET
    BERRYVILLE,VA226111110     		NONE 509(A)(1) FOR LOCAL GOVT PUBLIC SAFETY PROGRAM 500
    FISH OF CLARKE COUNTY
    PO BOX 1154
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR LOCAL ELDERLY ASSTISTANCE 5,000
    FORDHAM UNIVERSITY
    3A HERITAGE CREST
    SOUTHBURY,CT06488     		NONE 509(A)(1) FOR TUITION ASSISTANCE 20,000
    HARMONY UNITED METHODIST CHURCH
    380 EAST COLONIAL HIGHWAY
    HAMILTON,VA201589016     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 1,000
    HOLY CROSS ABBEY
    901 COOL SPRING LANE
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR UNRESTRICTED OPERATING EXPENSES 10,000
    IDA'S GIFT INC
    9033 WILDBERRY CT
    BOONSBORO,MD21713     		NONE 509(A)(1) FOR COMMUNITY ADVANCEMENT 20,000
    JOHN H ENDERS FIRE CO & RESCUE SQUA
    9 SOUTH BUCKMARSH STREET
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR LOCAL GOVT PUBLIC SAFETY PROGRAM 5,000
    NO PIEDMONT COMMUNITY FOUNDATION
    21 MAIN STREET
    WARRENTON,VA20186     		NONE 509(A)(1) FOR COMMUNITY ADVANCEMENT 5,000
    SEASIDE CHRISTIAN ACADEMY
    12637 OCEAN GTWY
    OCEAN CITY,MD21842     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 5,000
    SHADY GROVE PREGNANCY CENTER
    16220 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR THE INTERESTS OF WOMEN 10,000
    SOME
    71 O STREET NW
    WASHINGTON,DC20001     		NONE 509(A)(1) FOR FOOD ASSISTANCE 10,000
    ST JOHN'S CATHOLIC PREP
    3989 BUCKEYSTOWN PIKE
    BUCKEYSTOWN,MD21717     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 5,000
    ST FRANCIS DE SALES CATHOLIC CHURC
    37730 ST FRANCIS CT
    PURCELLVILLE,VA20132     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 10,000
    ST MARTIN'S CHURCH
    201 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR UNRESTRICTED OPERATING EXPENSES 2,500
    ST MARTIN'S SCHOOL
    115 SOUTH FREDERICK AVE
    GAITHERSBURG,MD20877     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 2,500
    THE WASHINGTON MIDDLE SCHOOL FOR GI
    1901 MISSISSIPPI AVE SE
    WASHINGTON,DC20020     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 5,000
    WAKEFIELD SCHOOL
    PO BOX 107
    THE PLAINS,VA20198     		NONE 509(A)(1) FOR LEARNING SUPPORT PROGRAM 20,000
    WASHINGTON JESUIT ACADEMY
    900 VARNUM STREET NE
    WASHINGTON,DC20017     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 5,000
    BLESSED SACRAMENT CATHOLIC SCHOOL
    11242 RACE TRACK ROAD
    BERLIN,MD21811     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 20,000
    PUNAHOU SCHOOL
    1601 PUNAHOU STREET
    HONOLULU,HI96822     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 10,000
    ST JOHN THE APOSTLE CATHOLIC CHURC
    101 OAKCREST MANOR DR
    LEESBURG,VA20176     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL OPERATING E 10,000
    ST MARY'S CATHOLIC SCHOOL
    7207 ANNAPOLIS ROAD
    LANDOVER HILLS,MD20784     		NONE 509(A)(1) FOR UNRESTRICTED GENERAL SCHOOL USE 15,000
    JUVENILE DIABETES RESEARCH FOUNDATI
    26 BROADWAY 14TH FLOOR
    NEW YORK,NY10004     		NONE 509(A)(1) FOR MEDICAL ADVANCEMENT & PATIENT SU 10,000
    HERO HOMES INC
    125 HIRST ROAD SUITE 3C
    PURCELLVILLE,VA20132     		NONE 509(A)(1) FOR THE INTERESTS OF VETERANS 10,000
    BARNS OF ROSE HILL
    95 CHALMERS CT
    BERRYVILLE,VA22611     		NONE 509(A)(1) FOR COMMUNITY ARTS ADVANCEMENT 5,000
    ROOSTER WALK INC
    675 HOBSON RD
    MARTINSVILLE,VA24054     		NONE 509(A)(1) FOR COMMUNITY ARTS ADVANCEMENT 5,000
    SECOND CHANCE INC
    1700 RIDGELY STREET
    BALTIMORE,MD21230     		NONE 509(A)(1) FOR JOB TRAINING AND DEVELOPMENT 15,000
    MORGAN COUNTY TENNIS ASSOCIATION
    PO BOX 153
    BERKELEY SPRINGS,WV25411     		NONE 509(A)(1) FOR YOUTH ATHLETIC SUPPORT/ADVANCEME 10,000
    SECOND CHANCE INC
    1700 RIDGELY STREET
    BALTIMORE,MD21230     		NONE 509(A)(1) FOR JOB TRAINING AND DEVELOPMENT 88,000
    Total .................................bullet 3a 354,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 16  
    4 Dividends and interest from securities....     14 19,939  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property...... 531120 1,258,230      
    bNot debt-financed property.....     16 51,107  
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....     14 152  
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    14 50,531  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 1,258,230 121,745  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,379,975
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    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
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2018 AccountingFeesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INDIRECT ACCOUNTING FEES 1,730 865   865

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2018 AmortizationSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description of Amortized Expenses Date Acquired, Completed, or Expended Amount Amortized Deduction for Prior Years Amortization Method Current Year Amortization Net Investment Income Adjusted Net Income Total Amount of Amortization
    PROTECTIVE LIFE REFI 2007-11-27 195,915 131,699 15.0000 13,061     144,760

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2018 DepreciationSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BOGUS 2012-01-01 5,000              
    LAND 2006-05-21 1,216,800              
    MAIN HOUSE 2006-05-21 1,390,864 412,519 S/L 39.0000 35,663      
    LAND 2009-06-02 762,914              
    MAIN HOUSE 2009-06-02 872,050 190,994 S/L 39.0000 22,360      

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Name of Bond End of Year Book Value End of Year Fair Market Value
    VARIOUS CORPORATE BONDS 326,205 322,736

    TY 2018 InvestmentsLandSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      24,522,478 17,384,559 7,137,919 17,923,991
            15,000
    IMPROVEMENTS IN PROGRESS 146,060   146,060  

    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    BB&T INSURED DEPOSIT CASH PGMS AT COST 124,399 124,399
    BB&T VARIOUS MUTUAL FUNDS AT COST 79,004 79,640
    KEBO OIL & GAS AT COST 683 683
    BROWN CASH AT COST 1,568 1,568
    BROWN VARIOUS MUTUAL FUNDS AT COST 343,969 378,011

    TY 2018 LandEtcSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
      2,262,914 661,536 1,601,378 3,800,000
      1,979,714   1,979,714  


    TY 2018 MortgagesAndNotesPayableSch
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Total Mortgage Amount:  

    Item No. 1
    Lender's Name PROTECTIVE LIFE INSURANCE CO
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 8,000,000
    Balance Due 2,922,561
    Date of Note 2007-11
    Maturity Date 2022-11
    Repayment Terms MONTHLY PRINCIPAL & INTERE
    Interest Rate 0.0638
    Security Provided by Borrower REAL ESTATE
    Purpose of Loan REFINANCE EXISTING LOANS
    Description of Lender Consideration  
    Consideration FMV  

    Item No. 2
    Lender's Name SUN LIFE ASSURANCE CO
    Lender's Title  
    Relationship to Insider  
    Original Amount of Loan 2,000,000
    Balance Due 638,823
    Date of Note 2007-05
    Maturity Date 2022-05
    Repayment Terms MONTHLY PRINCIPAL & INTERE
    Interest Rate 0.0603
    Security Provided by Borrower REAL ESTATE
    Purpose of Loan REFINANCE EXISTING LOANS
    Description of Lender Consideration  
    Consideration FMV  


    TY 2018 OtherAssetsSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    LOAN ESCROW ACCOUNTS 34,489 37,203 37,203
    LOAN COSTS, NET OF AMORT   66,233  


    TY 2018 OtherExpensesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COMMERCIAL (NS&J)        
    BANK CHARGES 161      
    CLEANING & MAINTENANCE 147,654      
    FEES & PERMITS 421      
    INSURANCE 33,929      
    LEASING FEES 24,724      
    MANAGEMENT FEES 158,299      
    PERSONAL PROPERTY TAXES 623      
    POSTAGE 326      
    PROFESSIONAL FEES 1,730      
    REAL ESTATE TAXES 275,813      
    REPAIRS & MAINTENANCE 17,854      
    SNOW REMOVAL 30,614      
    UTILITIES 38,336      
    INVESTMENT DEPRECIATION 602,099      
    FARM        
    FEES & PERMITS 450 450    
    INSURANCE 6,444 6,444    
    PAYROLL TAXES 1,971 1,971    
    REAL ESTATE TAXES 6,000 6,000    
    REPAIRS 18,947 18,947    
    SUPPLIES 4,309 4,309    
    UTILITIES 20,163 20,163    
    WAGES 25,761 25,761    
    INVESTMENT DEPRECIATION 22,929 22,929    
    COMMERCIAL (HC&W)        
    PROFESSIONAL FEES 1,800 1,800    
    ASSOCIATION FEES 6,390 6,390    
    INSURANCE 949 949    
    MANAGEMENT FEES 13,118 13,118    
    REAL ESTATE TAXES 15,737 15,737    
    REPAIRS & MAINTENANCE 2,558 2,558    
    UTILITIES 1,923 1,923    
    INVESTMENT DEPRECIATION 38,095 38,095    
    EXPENSES        
    OFFICE SUPPLIES AND EXPENSE 4,661 1,584   2,377
    INSURANCE 8,965 3,048   4,572
    TELEPHONE/INTERNET 5,118 1,740   2,610
    RENTAL EXPENSES   530,706    
    PROFESSIONAL FEES 21,041 21,041    
    PERMITS 4,325 4,325    
    ADVERTISING 6,762      


    TY 2018 OtherIncomeSchedule2
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    KEBO OIL & GAS 152 152  


    TY 2018 OtherIncreasesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description Amount
    FMV OF DISTRIBUTED PROPERTY IN EXCES OF BASIS 17,465


    TY 2018 OtherLiabilitiesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Description Beginning of Year - Book Value End of Year - Book Value
    RENTAL DEPOSITS 42,077 43,477


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 6,300 6,300    


    TY 2018 TaxesSchedule
    Name:
    THE KENTLAND FOUNDATION INC
    EIN:
    52-6070323
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAX 8,400 8,400    
    VA CORP TAX 699 699