TY 2020 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2020

Open to Public Inspection

For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020

Name of foundation
THE DAVID BELK CANNON FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 3746
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
GASTONIA, NC280540038

A Employer identification number

27-0004751

B Telephone number (see instructions)

(704) 854-6006

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$130,773,650J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	1,891,667		1,891,667
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		2,869,030
b	Gross sales price for all assets on line 6a 87,226,937
7	Capital gain net income (from Part IV, line 2)...			2,867,065
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).......		5,158	-7,079
12	Total. Add lines 1 through 11........	4,765,855		4,751,653
13	Compensation of officers, directors, trustees, etc.	316,567		82,892	233,675
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	16,567		5,576	10,991
16a	Legal fees (attach schedule).........		12,862	3,820	9,647
b	Accounting fees (attach schedule).......		16,555	0	16,555
c	Other professional fees (attach schedule)....		319,594	281,004	38,590
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		83,553	64,732	5,537
19	Depreciation (attach schedule) and depletion...		24,713	0
20	Occupancy..............	10,043		0	10,043
21	Travel, conferences, and meetings.......	101		0	101
22	Printing and publications..........
23	Other expenses (attach schedule).......		77,412	21,083	53,125
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	877,967		459,107	378,264
25	Contributions, gifts, grants paid.......	4,886,800			6,603,467
26	Total expenses and disbursements. Add lines 24 and 25	5,764,767		459,107	6,981,731
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-998,912
b	Net investment income (if negative, enter -0-)			4,292,546
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2020)

Form 990-PF (2020)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	510,201	542,793	542,793
	2	Savings and temporary cash investments.........	2,620,299	779,554	779,554
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........		2,434	2,434
	10a	Investments—U.S. and state government obligations (attach schedule)	18,571,132	15,341,684	15,341,684
	b	Investments—corporate stock (attach schedule).......	60,934,676	80,547,117	80,547,119
	c	Investments—corporate bonds (attach schedule).......	10,585,569	15,588,934	15,588,934
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	30,527,424	17,229,073	17,229,073
	14	Land, buildings, and equipment: basis 789,272
		Less: accumulated depreciation (attach schedule) 47,213	736,375	742,059	742,059
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	124,485,676	130,773,648	130,773,650
	17	Accounts payable and accrued expenses..........	4,185
	18	Grants payable.................	4,800,001	3,083,334
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	4,804,186	3,083,334
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	119,681,490	127,690,314
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	119,681,490	127,690,314
	30	Total liabilities and net assets/fund balances (see instructions).	124,485,676	130,773,648

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

119,681,490

Enter amount from Part I, line 27a .....................

-998,912

Other increases not included in line 2 (itemize) bullet

9,007,736

Add lines 1, 2, and 3 ..........................

127,690,314

Decreases not included in line 2 (itemize) bullet

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

127,690,314

Form 990-PF (2020)

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
1 a	PUBLICLY TRADED SECURITIES
b	CAPITAL GAIN FROM SCHEDULES K-1	P
c	CAPITAL GAINS DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	87,078,266	84,357,907	2,720,359
b	15,245		15,245
c	131,461		131,461
d
e

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			2,720,359
b			15,245
c			131,461
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	2,867,065
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 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE

1 Reserved

(a) Reserved	(b) Reserved	(c) Reserved	(d) Reserved

Reserved...........................

Reserved,..........................

Form 990-PF (2020)

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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Reserved................................	1	59,666
c	All other domestic foundations enter 1.39% 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	0
3	Add lines 1 and 2...........................	3	59,666
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	59,666
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	39,035
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	25,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	64,035
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,369
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax4,369	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the 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.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

$ 0

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.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

Yes

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Yes

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

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?................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2020)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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 Click to see attachment

.................

Yes

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

ERNEST SUMNER Telephone no. bullet

(704) 864-0927

Located at bullet

1201 E GARRISON BLVDGASTONIANC ZIP+4 bullet

28054

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

16 At any time during calendar year 2020, 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

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? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(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)?...............YesNo

(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.).......YesNo

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 ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

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 2020?.............

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)):

At the end of tax year 2020, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2020?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2020 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 2020.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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 2020?

Form 990-PF (2020)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

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 ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

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?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....

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? .................YesNo

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-)
B FRANK MATTHEWS II	CHAIRMAN 4.00	54,000
PO BOX 3746 GASTONIA,NC280540038	CHAIRMAN 4.00	54,000
EUGENE R MATTHEWS II	PRESIDENT/CEO/TREASURER 25.00	139,000
PO BOX 3746 GASTONIA,NC280540038	PRESIDENT/CEO/TREASURER 25.00	139,000
MARY M VAUGHN	SECRETARY 0.50	12,000
PO BOX 3746 GASTONIA,NC280540038	SECRETARY 0.50	12,000
HARRIET M JACKSON	DIRECTOR 0.50	12,000
PO BOX 3746 GASTONIA,NC280540038	DIRECTOR 0.50	12,000
BEN F MATTHEWS	DIRECTOR 0.50	12,000
PO BOX 3746 GASTONIA,NC280540038	DIRECTOR 0.50	12,000
VANN M MATTHEWS II	DIRECTOR 1.00	10,000
PO BOX 3746 GASTONIA,NC280540038	DIRECTOR 1.00	10,000
DR RICHARD E RANKIN JR	DIRECTOR 4.00	14,000
PO BOX 3746 GASTONIA,NC280540038	DIRECTOR 4.00	14,000
TAMARA BURRELL	EXECUTIVE DIRECTOR 25.00	51,567
PO BOX 3746 GASTONIA,NC280540038	EXECUTIVE DIRECTOR 25.00	51,567
ANNABELLE KELLY	DIRECTOR 0.50	12,000
PO BOX 3746 GASTONIA,NC280540038	DIRECTOR 0.50	12,000

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
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2020)

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
ALEX BROWN	FINANCIAL CONSULTING FEES	230,279
100 N MAIN ST STE 2400 WINSTONSALEM,NC27101	FINANCIAL CONSULTING FEES	230,279

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


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2020)

Page 8

Part X

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:

Average monthly fair market value of securities...................

118,291,643

Average of monthly cash balances.......................

410,270

Fair market value of all other assets (see instructions)................

652,684

Total (add lines 1a, b, and c).........................

119,354,597

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

119,354,597

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

1,790,319

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

117,564,278

Minimum investment return. Enter 5% of line 5..................

5,878,214

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

Minimum investment return from Part X, line 6....................

5,878,214

Tax on investment income for 2020 from Part VI, line 5......

59,666

Income tax for 2020. (This does not include the tax from Part VI.)...

268

Add lines 2a and 2b............................

59,934

Distributable amount before adjustments. Subtract line 2c from line 1............

5,818,280

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

5,818,280

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

5,818,280

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

6,981,731

Program-related investments—total from Part IX-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:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

6,981,731

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.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

6,981,731

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 (2020)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2019	(c) 2019	(d) 2020
1 Distributable amount for 2020 from Part XI, line 7					5,818,280
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......				1,017,590
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2020:
a From 2015......
b From 2016......
c From 2017......
d From 2018......
e From 2019......
fTotal of lines 3a through e........		0
4Qualifying distributions for 2020 from Part
XII, line 4: $ 6,981,731
a Applied to 2019, but not more than line 2a				1,017,590
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2020 distributable amount.....					5,818,280
e Remaining amount distributed out of corpus		145,861
5 Excess distributions carryover applied to 2020.		0			0
(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		145,861
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
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......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2020. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2021 ..........					0
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) .......		0
8 Excess distributions carryover from 2015 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2021. Subtract lines 7 and 8 from line 6a ......		145,861
10 Analysis of line 9:
a Excess from 2016....
b Excess from 2017....
c Excess from 2018....
d Excess from 2019....
e Excess from 2020....	145,861

Form 990-PF (2020)

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 2020, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

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) 2020	(b) 2019	(c) 2018	(d) 2017	(e) Total

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).)

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.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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 (2020)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
ASSIST ME 2901 ROZZELLES FERRY ROAD CHARLOTTE,NC28208	N/A	PC	GENERAL SUPPORT	2,000
BERRY CENTER PO BOX 1157 GOLDSBORO,NC27533	N/A	PC	GENERAL SUPPORT	250
BISHOP BRANCH BAPTIST CHURCH 1109 CENTRAL ROAD CENTRAL,SC29630	N/A	PC	GENERAL SUPPORT	3,000
BOYS AND GIRLS CLUBS OF GREATER GASTON PO BOX 23 GASTONIA,NC28052	N/A	PC	DANCING FOR FUTURE STARS	50,000
CAROLINA THREAD TRAIL 220 N TRYON ST CHARLOTTE,NC28202	N/A	PC	SOUTH FORK CORRIDOR	333,333
CAROMONT HEALTH FOUNDATION 2525 COURT DR GASTONIA,NC28054	N/A	PC	FUNDS TO TO HELP FIGHT COVID-19 AND TRANSCATHETER AORTIC VALVE REPLACEMENT EQUIPMENT	1,250,000
CATAWBA LANDS CONSERVACY 4530 PARK RD STE 420 CHARLOTTE,NC28209	N/A	PC	GENERAL SUPPORT	500
CATAWBA VALLEY COMMUNITY COLLEGE FOUNDATION 2550 HWY 70 SE HICKORY,NC28602	N/A	PC	PURCHASE HOT SPOTS AND CHROME BOOKS FOR STUDENTS IN RURAL AREAS W/O INTERNET SERVICES	50,000
CHARLOTTE NEUROSCIENCE FOUNDATION 300 BILLINGSLEY RD STE 108 CHARLOTTE,NC28211	N/A	PC	MEMORY CENTER CHARLOTTE	75,000
CHRISTIAN PRAYER AND HEALING CENTER 2923 ROUSSEAU GASTONIA,NC28054	N/A	PC	GENERAL SUPPORT	30,000
CMS FOUNDATION 4421 STUART ANDREW BOULEVARD CHARLOTTE,NC28217	N/A	PC	GENERAL SUPPORT	100,000
COLLEGE OF CHARLESTON 66 GEORGE STREET CHARLESTON,SC29424	N/A	PC	GENERAL SUPPORT	1,000
COVENANT VILLAGE INC 1351 ROBINWOOD RD GASTONIA,NC28054	N/A	PC	GENERAL SUPPORT	40,000
CRISIS ASSISTANCE MINISTRY 805 W AIRLINE AVE STE B GASTONIA,NC28052	N/A	PC	GENERAL SUPPORT	25,000
CUMBEE CENTER TO ASSIST ABUSED PERSON PO BOX 1293 AIKEN,SC29802	N/A	PC	GENERAL SUPPORT	3,000
DUKE UNIVERSITY PO BOX 90581 DURHAM,NC27708	N/A	PC	GENERAL SUPPORT	1,500
FIRST ARP CHURCH 317 S CHESTER ST GASTONIA,NC28052	N/A	PC	HOME MISSIONS OUTREACH	8,000
FIRST PRESBYTERIAN CHURCH 1621 E GARRISON BLVD GASTONIA,NC28054	N/A	PC	PLAYGROUND EQUIPMENT	10,000
GASTON COMMUNITY FOUNDATION 1201 E GARRISON BLVD GASTONIA,NC28054	N/A	PC	GENERAL SUPPORT, DBC DAF FUND	260,000
GASTON COMMUNITY FOUNDATION 1201 E GARRISON BLVD GASTONIA,NC28054	N/A	PC	GENERAL SUPPORT, S. NEW HOPE ROAD LAND	675,000
GASTON COUNTY FAMILY YMCA 2221 ROBINWOOD RD GASTONIA,NC28054	N/A	PC	GENERAL SUPPORT	17,800
GASTON COUNTY SCHOOLS 943 OSCEOLA STREET GASTONIA,NC28054	N/A	GOV	2,400 CHROME BOOKS	450,000
GASTON DAY SCHOOL 2001 GASTON DAY SCHOOL RD GASTONIA,NC28056	N/A	PC	OPERATING EXPENSES AND HVAC/FILTRATION SYSTEMS	114,000
HABERSHAM SCHOOL PO BOX 31037 SAVANNAH,GA31410	N/A	PC	GENERAL SUPPORT	3,000
JOE MARTIN ALS FOUNDATION 100 N TRYON STREET CHARLOTTE,NC28202	N/A	PC	OPERATING EXPENSES	252,000
LEUKEMIA & LYMPHOMA SOCIETY 3 INTERNATIONAL DR STE 200 RYE BROOK,NY10573	N/A	PC	GENERAL SUPPORT	30,000
LIFE ENRICHMENT CENTER OF CLEVELAND COUNTY 110 LIFE ENRICHMENT BLVD SHELBY,NC28150	N/A	PC	CAPITAL CAMPAIGN	250,000
MENDED HEARTS 1500 DAWSON ROAD ALBANY,GA31707	N/A	PC	GENERAL SUPPORT	10,000
NATIONAL MULTIPLE SCLEROSIS SOCIETY 1800 M ST NW STE 750 SOUTH WASHINGTON,DC20036	N/A	PC	WALK MS	30,000
PAVILLON INTERNATIONAL 241 PAVILLON PL MILL SPRING,NC28756	N/A	PC	GENERAL SUPPORT	50,000
PHILANTHROPY ROUNDTABLE 1730 M ST NW STE 601 WASHINGTON,DC20036	N/A	PC	GENERAL SUPPORT	50,000
PRESBYTERIAN COLLEGE 503 S BROAD ST CLINTON,SC29325	N/A	PC	RENOVATIONS OF THE WILLIAM H. BELK AUDITORIUM	816,667
SOCKS INC PO BOX 269 GASTONIA,NC28101	N/A	PC	GENERAL SUPPORT	25,000
SAINT MARY'S SCHOOL 900 HILLSBOROUGH STREET RALEIGH,NC27603	N/A	PC	CAPITAL CAMPAIGN	666,667
SAMARITAN HOUSE 4031 PACIFIC BLVD SAN MATEO,CA94403	N/A	PC	GENERAL SUPPORT	1,500
SCHIELE MUSEUM 1500 EGARRISON BLVD GASTONIA,NC28054	N/A	PC	WINTER WONDERLAND EXHIBIT	7,000
TALL TIMBERS RESEARCH INC 13093 HENRY BEADEL DR TALLAHASSEE,FL32312	N/A	PC	GENERAL SUPPORT	250
GASTON INNOVATION GROUP INC DBA TECHWORKS GASTON 52A ERVIN ST BELMONT,NC28012	N/A	PC	GENERAL SUPPORT	25,000
THE SALVATION ARMY PO BOX 1094 GASTONIA,NC28053	N/A	PC	GENERAL SUPPORT	25,000
THE UNITED WAY OF GASTON COUNTY PO BOX 2597 GASTONIA,NC28053	N/A	PC	GASTON COUNTY VIRUS RELIEF FUND	175,000
TOWN OF FARMVILLE 3672 NORTH MAIN STREET FARMVILLE,NC27828	N/A	GOV	FARMVILLE PUBLIC LIBRARY BUILDING PROJECT	100,000
UNC KENAN-FLAGLER BUSINESS SCHOOL 300 KENAN CENTER CRIVE CHAPEL HILL,NC27599	N/A	PC	CAPITAL CAMPAIGN	500,000
UNITED WAY OF AIKEN COUNTY PO BOX 699 AIKEN,SC29802	N/A	PC	DOLLY PARTON LIBRARY	30,000
WOFFORD COLLEGE 429 N CHURCH ST SPARTANBURG,SC29303	N/A	PC	ANNUAL FUND	2,000
WOODBERRY FOREST SCHOOL 898 WOODBERRY FOREST RD WOODBERRY FOREST,VA22989	N/A	PC	GENERAL SUPPORT	5,000
YWCA CENTRAL CAROLINAS 3420 PARK ROAD CHARLOTTE,NC28209	N/A	PC	GROUNDS FOR CHANGE PROJECT IN MEMORY OF SARAH BELK GAMBRELL	50,000
Total ................................. 3a				6,603,467

bApproved for future payment
CAROLINA THREAD TRAIL 220 N TRYON ST CHARLOTTE,NC28202	N/A	PC	SOUTH FORK CORRIDOR	666,667
TOWN OF FARMVILLE 3672 NORTH MAIN STREET FARMVILLE,NC27828	N/A	GOV	FARMVILLE PUBLIC LIBRARY BUILDING PROJECT	100,000
Total ................................. 3b				766,667

Form 990-PF (2020)

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	(e) Related or exempt function income (See instructions.)
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 ...........
4 Dividends and interest from securities....			14	1,891,667
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............	525990	1,965	18	2,867,065
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPASSTHROUGH K-1 INCOME	901101	1,454	14	3,704
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		3,419		4,762,436	0

13Total. Add line 12, columns (b), (d), and (e)..................

4,765,855

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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 (2020)

Page 13

Part XVII

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 described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2020)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2020 AccountingFeesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
AUDIT & TAX RETURN PREPARATION	16,555	0		16,555

- TIN:

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

TY 2020 GainLossSaleOtherAssetsSch

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Name	Date Acquired	How Acquired	Date Sold	Purchaser Name	Gross Sales Price	Basis	Basis Method	Sales Expenses	Total (net)	Accumulated Depreciation
UBTI CAPITAL GAIN FROM SCH K-1		PURCHASED			1,965		COST	0	1,965

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC.	84,053	84,053
AECOM	89,026	89,026
AERCAP IRELAND CAPITAL DAC	159,176	159,176
AIR LEASE CORPORATION	132,266	132,266
AIR LEASE CORPORATION	46,844	46,844
ALEXANDRIA REAL ESTATE EQUITIES, INC.	114,984	114,984
ALLY FINANCIAL INC.	115,054	115,054
AMAZON.COM, INC.	28,464	28,464
AMERICAN ELECTRIC POWER CO, INC.	73,068	73,068
AMERICAN EXPRESS COMPANY	81,396	81,396
AMERICAN EXPRESS COMPANY	42,672	42,672
AMERICAN INTERNATIONAL GROUP, INC.	79,572	79,572
AMERICAN INTERNATIONAL GROUP, INC.	29,678	29,678
AMERICAN TOWER CORPORATION	47,833	47,833
AMERICAN TOWER CORPORATION	85,741	85,741
AMERISOURCEBERGEN CORPORATION	54,829	54,829
AMGEN INC.	112,561	112,561
ANHEUSER-BUSCH INBEV WORLDWIDE INC.	88,422	88,422
AUTOZONE, INC.	82,930	82,930
AVALONBAY COMMUNITIES, INC.	73,903	73,903
BANCO SANTANDER, S.A.	213,427	213,427
BANK OF AMERICA CORPORATION	173,459	173,459
BARCLAYS PLC	203,263	203,263
BB&T CORPORATION	101,184	101,184
BERKSHIRE HATHAWAY ENERGY COMPANY	36,581	36,581
BERRY GLOBAL INC	128,903	128,903
BIOGEN INC	83,568	83,568
BRISTOL-MYERS SQUIBB COMPANY	50,631	50,631
BRISTOL-MYERS SQUIBB COMPANY	29,104	29,104
BRISTOL-MYERS SQUIBB COMPANY	52,678	52,678
BROADCOM INC	85,948	85,948
CAPITAL ONE FINANCIAL CORPORATION	85,592	85,592
CARRIER GLOBAL CORPORATION	86,323	86,323
CCO HOLDINGS, LLC/ CCO HOLDINGS CAPITAL CORP.	111,431	111,431
CENTENE CORPORATION	94,688	94,688
CENTENE CORPORATION	47,696	47,696
CHARTER COMMUNICATIONS OPERATING, LLC/CHARTER COMMUNICATIONS	69,224	69,224
CHENIERE CORPUS CHRISTI HOLDINGS, LLC	100,193	100,193
CHENIERE ENERGY PARTNERS L P	132,223	132,223
CIGNA CORPORATION	57,605	57,605
CISCO SYSTEMS, INC.	32,967	32,967
CITIGROUP INC.	224,176	224,176
COMCAST CORPORATION	49,229	49,229
COMMONWEALTH EDISON COMPANY	111,023	111,023
CONAGRA BRANDS INC	60,554	60,554
CONCHO RESOURCES INC.	28,573	28,573
CONSTELLATION BRANDS, INC.	87,662	87,662
CROWN AMERS LLC / CROWN AMERS CAP CORP VI	119,313	119,313
CSX CORPORATION	89,500	89,500
CVS HEALTH CORP	44,029	44,029
CYRUSONE LP / CYRUSONE FINANCE CORP.	10,676	10,676
CYRUSONE LP / CYRUSONE FINANCE CORP.	32,272	32,272
DAVITA INC	116,766	116,766
DH EUROPE FINANCE II SARL	70,949	70,949
DIAMOND 1 FIN CORP/DIAMOND 2	79,297	79,297
DIAMONDBACK ENERGY INC	26,026	26,026
DIAMONDBACK ENERGY INC	63,069	63,069
DISCOVER FINANCIAL SERVICES	120,968	120,968
DOLLAR GENERAL CORPORATION	80,358	80,358
DOLLAR TREE INC	23,803	23,803
DOMINION RESOURCES, INC.	93,661	93,661
EDISON INTERNATIONAL	27,876	27,876
EDISON INTERNATIONAL	17,950	17,950
ELANCO ANIMAL HEALTH INC	123,900	123,900
ENERGY TRANSFER PARTNERS, L.P.	76,616	76,616
ENTERPRISE PRODUCTS OPERATING LP	70,448	70,448
GILEAD SCIENCES, INC.	90,758	90,758
GOLDMAN SACHS GROUP, INC.	138,121	138,121
GOLDMAN SACHS GROUP, INC.	40,510	40,510
HCA INC.	120,348	120,348
HEALTHCARE TRUST OF AMERICA HOLDINGS LP	87,386	87,386
HEWLETT PACKARD ENTERPRISE COMPANY	42,487	42,487
HEWLETT PACKARD ENTERPRISE COMPANY	25,528	25,528
ICAHN ENTERPRISES, L.P. / ICAHN ENTERPRISES FINANCE CORPORAT	85,760	85,760
JACKSON NATIONAL LIFE GLOBAL FUNDING	46,428	46,428
JOHN DEERE CAPITAL CORPORATION	46,090	46,090
JPMORGAN CHASE & CO.	157,757	157,757
JPMORGAN CHASE & CO.	103,709	103,709
KEURIG DR PEPPER INC	16,298	16,298
KEURIG DR PEPPER INC	107,561	107,561
KEYCORP	74,679	74,679
KINDER MORGAN, INC.	93,970	93,970
KRAFT HEINZ FOODS COMPANY	70,327	70,327
KRAFT HEINZ FOODS COMPANY	20,924	20,924
KRAFT HEINZ FOODS COMPANY	34,327	34,327
KRAFT HEINZ FOODS COMPANY	17,499	17,499
LAMAR MEDIA CORP.	77,344	77,344
LAMAR MEDIA CORP.	71,939	71,939
LENNAR CORPORATION	94,544	94,544
LENNAR CORPORATION	29,625	29,625
LEVEL 3 FINANCING, INC.	124,688	124,688
MARRIOTT INTERNATIONAL, INC.	52,637	52,637
MARRIOTT INTERNATIONAL, INC.	87,486	87,486
MCDONALD'S CORPORATION	40,150	40,150
MEDTRONIC, INC.	26,933	26,933
MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP/ MGP ESCROW C	75,665	75,665
MOLINA HEALTHCARE, INC.	99,988	99,988
MORGAN STANLEY	131,603	131,603
MORGAN STANLEY (3MO LIBOR + 118BP)	75,038	75,038
MPLX LP	21,005	21,005
MYLAN NV	50,489	50,489
NUTRIEN LTD	20,605	20,605
NUTRITION & BIOSCIENCES INC	77,252	77,252
ORACLE CORPORATION	82,421	82,421
PACIFIC LIFE GLOBAL FUNDING II	121,642	121,642
PAYPAL HOLDINGS INCORPORATION	60,456	60,456
PAYPAL HOLDINGS INCORPORATION	52,239	52,239
PFIZER INC	10,787	10,787
PFIZER INC	16,182	16,182
PFIZER INC.	23,375	23,375
PLAINS ALL AMERICAN PIPELINE L.P./PAA FINANCE CORP.	78,488	78,488
PNC FINANCIAL SERVICES GROUP INC	230,068	230,068
POST HOLDINGS INC.	76,388	76,388
PRICOA GLOBAL FUNDING I	159,221	159,221
PRINCIPAL LIFE GLOBAL FUNDING II	84,733	84,733
PROLOGIS, L.P.	42,863	42,863
PROLOGIS, L.P.	16,096	16,096
QUICKEN LOANS INC.	80,063	80,063
REGENERON PHARMACEUTICALS, INC.	35,451	35,451
REPUBLIC SERVICES, INC.	37,376	37,376
REYNOLDS AMERICAN INC.	44,612	44,612
ROGERS COMMUNICATIONS INC.	54,613	54,613
SANTANDER HOLDINGS USA INC	72,283	72,283
SHIRE ACQUISITIONS INVESTMENTS IRELAND DACCUSIP: 82481LAC3	21,190	21,190
SIMON PROPERTY GROUP, L.P.	83,288	83,288
SINCLAIR TELEVISION GROUP, INC.	135,200	135,200
SOUTHERN CALIFORNIA EDISON COMPANYCUSIP: 842400GQ0	59,145	59,145
SPIRIT REALTY LP	103,030	103,030
STEEL DYNAMICS, INC.	28,300	28,300
STEEL DYNAMICS, INC.	33,548	33,548
SUNCOR ENERGY INC.	55,153	55,153
TAYLOR MORRISON COMMUNITIES INC	22,400	22,400
THE AES CORPORATION	87,200	87,200
THE BOEING COMPANY	89,729	89,729
THE BOEING COMPANY	103,818	103,818
THE DOW CHEMICAL COMPANY	54,770	54,770
THE SHERWIN-WILLIAMS COMPANY	26,107	26,107
THE WALT DISNEY COMPANY	82,068	82,068
T-MOBILE USA, INC.	121,611	121,611
T-MOBILE USA, INC.	36,752	36,752
U.S. BANCORP	79,949	79,949
UNITED HEALTH GROUP INCORPORATEDCUSIP: 91324PDS8	85,250	85,250
UNITED RENTALS (NORTH AMERICA), INC.CUSIP: 911365BN3	131,563	131,563
UNITED TECHNOLOGIES CORP	83,451	83,451
UPJOHN INC	37,140	37,140
VALE OVERSEAS LIMITED	105,539	105,539
VEREIT OPERATING PARTNERSHIP L.P	51,127	51,127
VICI PROPERTIES INC	81,822	81,822
WELLS FARGO & COMPANY	103,512	103,512
WELLS FARGO & COMPANY	133,078	133,078
WESTERN GAS PARTNERS, L.P.	57,716	57,716
WESTERN GAS PARTNERS, L.P.	25,913	25,913
WESTERN MIDSTREAM OPERATING LP	25,764	25,764
WESTERN MIDSTREAM OPERATING LP	55,991	55,991
WILLIAMS PARTNERS L.P.	159,865	159,865
WILLIS NORTH AMERICAN INC.	32,824	32,824
XCEL ENERGY INC	97,367	97,367
ALLY AUTO RECV TR 2017-4 A-4	59,508	59,508
CARMAX AUTO OWNER TR 2017-4 A-4	45,657	45,657
CARMAX AUTO OWNER TR 2018-1 A-4	132,959	132,959
CFMT 2019-HB1, LLC A	74,564	74,564
CHESAPEAKE FDG II LLC 2017-2 A-1	3,420	3,420
HPEFS EQUIPMENT TRUST 2019-1 A-3	101,081	101,081
KUBOTA CR OWNER TR 2020-1 A-3	118,253	118,253
MMAF EQUIP FIN 2019-B A-3	133,810	133,810
NISSAN AUTO REC TR 2017-B A-4	52,613	52,613
OSCAR US FD TR IX 2018-9 A-4	104,236	104,236
OSCAR US FD TR VII 2017-7 A-4	27,364	27,364
OSCAR US FD TR VIII 2018-8 A-4	144,256	144,256
OSCAR US FD TR XI LLC 2019-11 A-4	136,313	136,313
SBA TOWER TRUST	79,817	79,817
SBA TOWER TRUST	97,689	97,689
TRICON AMER HOMES TR 2017-SFR2 A	102,240	102,240
VERIZON OWNER TR 2018-1 A-1A	30,674	30,674
VERIZON OWNER TR 2019-B A-1A	61,187	61,187
VERIZON OWNER TR 2019-C A-1A	35,751	35,751
CAMB COML MTG TR 2019-LIFE A	100,206	100,206
CD MTG TR 2016-CD2 A-4	39,628	39,628
CITIGROUP COML MTG TR 2016-P6 A-AB	109,064	109,064
CITIGRP COML MTG TR 2020-GC46 A-2	47,629	47,629
COMM MTG TR 2013-300P A1	133,749	133,749
COMM MTG TR 2013-CCRE8 A-5	165,230	165,230
COMM MTG TR 2014-UBS3 A-3	133,817	133,817
DBCG MTG TR 2017-BBG A	109,880	109,880
FHLMC REMIC SERIES 4028 VA	11,978	11,978
FHLMC SCRTT SERIES 2019-1 M55D	123,050	123,050
FHLMC SCRTT SERIES 2019-1 MA	56,344	56,344
FHLMC SCRTT SERIES 2019-2 MA	139,213	139,213
FHLMCT SLSTT SERIES 2019-1 A-2	55,253	55,253
FHLMCT SLSTT SERIES 2019-2 A-2C	95,701	95,701
FHLMCT SLSTT SERIES 2019-3 A-2C	85,782	85,782
GS MTG SECS TR 2013-GC13 A-5	74,900	74,900
JPMBB COML MTG SEC 2014-C22 A-4	104,337	104,337
NYT MTG TR 2019-NYT A	150,162	150,162
WELLS FARGO COML TR 2014-LC18 A-4	105,504	105,504
WELLS FARGO CO TR 2018-C43 A3	45,110	45,110
WFRBS COML MTG TR 2013-C12 A-3	87,502	87,502
WFRBS COML MTG TR 2014-C22 A-4	69,843	69,843
URUGUAY (REPUBLIC OF) CUSIP: 917288BK7	24,531	24,531
PETROLEOS MEXICANOS CUSIP: 71654QDC3	83,280	83,280

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ISHARES TRUST CORE DIV GRWTH ETF	151,998	151,998
ISHARES TRUST CORE MSCI TOTAL ETF	131,525	131,525
ISHARES TRUST CORE S&P TTL STK ETF	439,894	439,894
GOLDMAN SACHS GQG PARTNERS INTL	5,065,735	5,065,735
IVA INTERNATIONAL FUND CLASS I N/L	9,376,462	9,376,462
VANGUARD INTERNATIONAL GROWTH FUND ADMIRAL SHARES N/L	5,705,321	5,705,321
ISHARES TR CORE MSCI EAFE SYMBOL: IEFA	10,455,183	10,455,183
ISHARES TR CORE S&P500 ETF SYMBOL: IVV	21,697,730	21,697,730
ISHARES TR MSCI ACWI ETF SYMBOL: ACWI	3,303	3,303
ISHARES TR RUS 1000 GRW ETF SYMBOL: IWF	8,936,943	8,936,943
ABBOTT LABS	371,390	371,390
AMERICAN INTERNATIONAL GROUP INCORPORATED COM NEWSYMBOL: AIG	365,349	365,349
ARCHER DANIELS MIDLAND COMPANY	158,035	158,035
BERKSHIRE HATHAWAY INCORPORATED DEL CLASS B NEWSYMBOL: BRK.B	318,126	318,126
BK OF AMERICA CORPORATION	262,363	262,363
BOOKING HOLDINGS INCORPORATED	216,045	216,045
BORGWARNER INCORPORATED	152,435	152,435
CARRIER GLOBAL CORPORATION	127,456	127,456
CATERPILLAR INCORPORATED	128,142	128,142
CHARTER COMMUNICATIONS INCORPORATED NEW CLASS ASYMBOL: CHTR	188,542	188,542
CHEVRON CORPORATION NEW	162,989	162,989
COGNIZANT TECHNOLOGY SOLUTIONS CLASS A	199,712	199,712
COMCAST CORPORATION NEW CLASS A	184,448	184,448
DEERE & COMPANY	58,115	58,115
DISNEY WALT COMPANY	340,437	340,437
DOMINION ENERGY INCORPORATED	89,939	89,939
FACEBOOK INCORPORATED CLASS A	107,625	107,625
FIDELITY NATL INFORMATION SVCS	157,869	157,869
FIRST REP BK SAN FRANCISCO CAL	167,500	167,500
GENERAL MTRS COMPANY	187,005	187,005
GILEAD SCIENCES INCORPORATED	90,886	90,886
HANESBRANDS INCORPORATED	121,976	121,976
HARTFORD FINL SVCS GROUP INCORPORATED	186,516	186,516
HONEYWELL INTERNATIONAL INCORPORATED	163,992	163,992
HUMANA INCORPORATED	192,417	192,417
JPMORGAN CHASE & COMPANY	119,319	119,319
KIMBERLY-CLARK CORPORATION	152,628	152,628
KKR & COMPANY INCORPORATED	235,166	235,166
L3HARRIS TECHNOLOGIES INCORPORATED	112,656	112,656
LINDE PLC SHS	165,296	165,296
MARSH & MCLENNAN COMPANIES INCORPORATED	128,115	128,115
MEDTRONIC PLC SHS	256,302	256,302
METLIFE INCORPORATED	152,165	152,165
MONDELEZ INTERNATIONAL INCORPORATED CLASS ASYMBOL: MDLZ	256,800	256,800
MORGAN STANLEY COM NEW	199,354	199,354
NVR INCORPORATED	212,153	212,153
OREILLY AUTOMOTIVE INCORPORATED	97,755	97,755
PARKER-HANNIFIN CORPORATION	190,687	190,687
PEPSICO INCORPORATED	271,686	271,686
PFIZER INCORPORATED	201,351	201,351
PHILIP MORRIS INTERNATIONAL INCORPORATED	51,247	51,247
PROCTER AND GAMBLE COMPANY	250,730	250,730
SCHWAB CHARLES CORPORATION	281,748	281,748
SHERWIN WILLIAMS COMPANY	116,116	116,116
TEXAS INSTRS INCORPORATED	207,953	207,953
TJX COMPANIES INCORPORATED NEW	214,567	214,567
TRUIST FINL CORPORATION	162,099	162,099
V F CORPORATION	219,589	219,589
VISA INCORPORATED COM CLASS A	128,613	128,613
PUBLIC STORAGE REIT	115,003	115,003
WEYERHAEUSER COMPANY MTN BE	127,850	127,850
ABM INDUSTRIES INCORPORATED	58,652	58,652
ACI WORLDWIDE INCORPORATED	73,401	73,401
ADAPTHEALTH CORPORATION COM CLASS A	68,359	68,359
ALTRA INDL MOTION CORPORATION	95,340	95,340
AMN HEALTHCARE SVCS INCORPORATED	83,265	83,265
ARCOSA INCORPORATED	48,338	48,338
AVIENT CORPORATION	41,086	41,086
BANCORPSOUTH BK TUPELO MISS	100,430	100,430
BRINKS COMPANY	97,200	97,200
BROOKS AUTOMATION INCORPORATED NEW	87,527	87,527
CALLON PETE COMPANY DEL	6,843	6,843
CARTERS INCORPORATED	44,213	44,213
CASELLA WASTE SYSTEMS INCORPORATED CLASS ASYMBOL: CWST	81,155	81,155
CBIZ INCORPORATED	44,173	44,173
CENTRAL GARDEN & PET COMPANY CLASS A NON-VTGSYMBOL: CENTA	50,135	50,135
CERENCE INCORPORATED	73,350	73,350
CONCENTRIX CORPORATION	53,298	53,298
CVB FINL CORPORATION	76,830	76,830
ENVISTA HOLDINGS CORPORATION	80,952	80,952
ESCO TECHNOLOGIES INCORPORATED	94,962	94,962
FIRST HORIZON CORPORATION	69,312	69,312
FORWARD AIR CORPORATION	77,608	77,608
FULLER H B COMPANY	74,188	74,188
GIBRALTAR INDUSTRIES INCORPORATED	95,680	95,680
GLACIER BANCORP INCORPORATED NEW	107,203	107,203
GLATFELTER CORPORATION	36,855	36,855
HARSCO CORPORATION	54,479	54,479
HORACE MANN EDUCATORS CORPORATION NEW	63,060	63,060
ICF INTERNATIONAL INCORPORATED	63,924	63,924
ICU MED INCORPORATED	73,141	73,141
INDEPENDENT BANK CORPORATION MASS	108,830	108,830
INTEGER HLDGS CORPORATION	79,972	79,972
KAISER ALUMINUM CORPORATION COM PAR $0.01	49,450	49,450
KNOLL INCORPORATED COM NEW	30,975	30,975
LAKELAND FINL CORPORATION	66,439	66,439
LANCASTER COLONY CORPORATION	54,935	54,935
LA Z BOY INCORPORATED	88,843	88,843
MAGNOLIA OIL & GAS CORPORATION CLASS A	41,301	41,301
MATADOR RES COMPANY	48,722	48,722
METHODE ELECTRS INCORPORATED	57,803	57,803
MGE ENERGY INCORPORATED	42,718	42,718
ONE GAS INCORPORATED	69,861	69,861
OXFORD INDUSTRIES INCORPORATED	69,113	69,113
PLEXUS CORPORATION	55,529	55,529
RAMBUS INCORPORATED DEL	49,936	49,936
ROGERS CORPORATION	57,768	57,768
SELECTIVE INS GROUP INCORPORATED	89,753	89,753
SEMTECH CORPORATION	52,626	52,626
SIMPLY GOOD FOODS COMPANY	84,986	84,986
SOUTH ST CORPORATION	79,530	79,530
STANDEX INTERNATIONAL CORPORATION	52,714	52,714
STIFEL FINL CORPORATION	50,309	50,309
SYNNEX CORPORATION	43,978	43,978
THE PROVIDENCE SERVICE CORPORATION	54,066	54,066
US ECOLOGY INCORPORATED	38,873	38,873
VERRA MOBILITY CORPORATION	43,883	43,883
WILLSCOT MOBIL MINI HLDNG CORPORATION COM CLASS A	66,498	66,498
WOLVERINE WORLD WIDE INCORPORATED	71,719	71,719
PEBBLEBROOK HOTEL TR REIT	43,334	43,334
PHYSICIANS RLTY TR REIT	65,326	65,326
QTS RLTY TR INCORPORATED COM CLASS A REIT	82,300	82,300
ACI WORLDWIDE INCORPORATED	32,742	32,742
ALTAIR ENGR INCORPORATED COM	55,213	55,213
ANSYS INCORPORATED	44,020	44,020
APTARGROUP INCORPORATED	65,433	65,433
AVALARA INCORPORATED	28,196	28,196
AXON ENTERPRISE INCORPORATED	87,119	87,119
BALCHEM CORPORATION	45,281	45,281
BIO-TECHNE CORPORATION	78,435	78,435
BOTTOMLINE TECH DEL INCORPORATED	37,445	37,445
BRIGHT HORIZONS FAM SOL IN DEL	98,258	98,258
CASELLA WASTE SYSTEMS INCORPORATED CLASS A	100,669	100,669
COGNEX CORPORATION	76,351	76,351
CONSTRUCTION PARTNERS INCORPORATED COM CLASS A	73,037	73,037
COPART INCORPORATED	42,374	42,374
DESCARTES SYSTEMS GROUP INCORPORATED	90,180	90,180
DOUGLAS DYNAMICS INCORPORATED	76,986	76,986
EVI INDUSTRIES INCORPORATED	37,071	37,071
EXPONENT INCORPORATED	98,313	98,313
FAIR ISAAC CORPORATION	90,454	90,454
FIRSTSERVICE CORPORATION NEW	79,598	79,598
GARTNER INCORPORATED	48,377	48,377
GENERAC HLDGS INCORPORATED	59,354	59,354
GRACO INCORPORATED	81,466	81,466
GRAND CANYON ED INCORPORATED	45,065	45,065
GUIDEWIRE SOFTWARE INCORPORATED	87,150	87,150
HEALTH CATALYST INCORPORATED	52,932	52,932
HEICO CORPORATION NEW CLASS A	94,584	94,584
HENRY JACK & ASSOC INCORPORATED	89,095	89,095
IAA INCORPORATED	86,423	86,423
JOHN BEAN TECHNOLOGIES CORPORATION	53,177	53,177
LCI INDUSTRIES	52,261	52,261
LIGAND PHARMACEUTICALS INCORPORATED COM NEW	31,227	31,227
MERCURY SYSTEMS INCORPORATED	86,387	86,387
MERIT MED SYSTEMS INCORPORATED	41,188	41,188
NEOGEN CORPORATION	67,009	67,009
OMNICELL COM	96,616	96,616
POOL CORPORATION	137,080	137,080
RBC BEARINGS INCORPORATED	68,930	68,930
REALPAGE INCORPORATED	32,977	32,977
REPLIGEN CORPORATION	94,665	94,665
ROLLINS INCORPORATED	112,014	112,014
SIMPSON MANUFACTURING COMPANY INCORPORATED	44,949	44,949
SITEONE LANDSCAPE SUPPLY INCORPORATED	97,716	97,716
SPS COMMERCE INCORPORATED	72,430	72,430
TELEFLEX INCORPORATED	76,140	76,140
TREX COMPANY INCORPORATED	87,571	87,571
TYLER TECHNOLOGIES INCORPORATED	91,233	91,233
VAIL RESORTS INCORPORATED	87,036	87,036
WATSCO INCORPORATED	70,684	70,684
WEST PHARMACEUTICAL SVSC INCORPORATED	115,024	115,024
BLACKROCK FUNDS HIGH YIELD BOND INST	122,127	122,127
BROWN CAPITAL MANAGEMENT INTL SM CO INST	74,399	74,399
EATON VANCE FUNDS SHORT DURATION GOVT INCOME I	135,447	135,447
FIDELITY INVESTMENTS EMRG MKTS RETAIL	95,778	95,778
FIDELITY INVESTMENTS ADV INTL CAPITAL APPRCTN Z	160,487	160,487
FIDELITY INVESTMENTS TOTAL BOND Z	442,354	442,354
FIDELITY INVESTMENTS HEALTH CARE RETAIL	147,543	147,543
FUNDVANTAGE TRUST POLEN GROWTH I	307,949	307,949
JPMORGAN FUNDS SM CAP EQTY I	131,848	131,850
THORNBURG FUNDS INTL VALUE I	73,850	73,850

- TIN:

TY 2020 InvestmentsGovtObligationsSch

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

US Government Securities - End of Year Book Value:

14,887,734

US Government Securities - End of Year Fair Market Value:

14,887,734

State & Local Government Securities - End of Year Book Value:

453,950

State & Local Government Securities - End of Year Fair Market Value:

453,950

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
KFBSF PRIVATE EQUITY FUND III, LP	FMV	81,736	81,736
KFBSF PRIVATE EQUITY FUND IV, LP	FMV	15,000	15,000
WSC SEARCH & ACQUIRE FUND I, LP	FMV	635,071	635,071
WSC SEARCH & ACQUIRE FUND II, LP	FMV	30,000	30,000
ASPECT US INSTITUTIONAL FUND LTD	FMV	2,092,771	2,092,771
HUDSON BAY FUND (INTL) LTD	FMV	2,554,052	2,554,052
MARSHALL WACE EUREKA FUND PLC	FMV	4,252,499	4,252,499
P2 CAPITAL FUND, LTD (SPECIAL INVESTMENTS)	FMV	212,729	212,729
P2 CAPITAL FUND, LTD - CLASS R (SPECIAL INV. OPTION)	FMV	1,661,339	1,661,339
THIRD POINT OFFSHORE FUND LTD	FMV	4,014,410	4,014,410
GOLDMAN SACHS BDC, INC. (RESTRICTED)	FMV	843,917	843,917
SUMMIT GROWTH EQUITY X ACCESS (INTL), LP	FMV	654,337	654,337
BLACKSTONE REAL ESTATE INCOME CL I NSA	FMV	181,212	181,212

- TIN:

TY 2020 LandEtcSchedule2

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
BUILDING	689,647	34,482	655,165	655,165
BUILDING IMPROVEMENTS	22,432	2,993	19,439	19,439
FURNITURE AND EQUIPMENT	77,193	9,738	67,455	67,455

- TIN:

TY 2020 LegalFeesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
GENERAL GOVERNANCE AND COUNSEL	12,862	3,820		9,647

- TIN:

TY 2020 OtherExpensesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
DUES AND SUBSCRIPTIONS	22,205	0	22,205
OFFICE EXPENSES	25,412	0	25,412
PASSTHROUGH K-1 EXPENSES	24,287	21,083	0
ADVERTISING	3,488	0	3,488
INSURANCE	350	0	350
TELEPHONE AND INTERNET	1,670	0	1,670

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
PASSTHROUGH K-1 INCOME	5,158	-7,079	5,158

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Description	Amount
UNREALIZED CHANGE IN VALUE OF INVESTMENTS	9,007,736

- TIN:

TY 2020 OtherProfessionalFeesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES	250,254	250,254	0
PAYROLL PROCESSING FEES	3,365	0	3,365
ADMINISTRATIVE FEES	45,000	30,750	14,250
CONSULTING FEES	20,975	0	20,975

- TIN:

TY 2020 TaxesSchedule

Name:

THE DAVID BELK CANNON FOUNDATION

EIN:

27-0004751

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
EXCISE TAX	13,840	0	0
FOREIGN TAXES	64,732	64,732	0
PROPERTY TAX	3,104	0	5,537
UNRELATED BUSINESS INCOME TAX	1,877	0	0