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
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 GAMBRELL FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5625 FAIRVIEW ROAD
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28209
A Employer identification number

56-2120679
B Telephone number (see instructions)

(704) 553-8296
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$149,940,039J 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) 141,000
2 Check bullet.............
3 Interest on savings and temporary cash investments 5,067 5,067  
4 Dividends and interest from securities... 1,598,979 1,575,554  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,017,311
b Gross sales price for all assets on line 6a 23,072,980
7 Capital gain net income (from Part IV, line 2)... 1,017,311
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 16,139,144 1,732,070  
12 Total. Add lines 1 through 11........ 18,901,501 4,330,002  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 300,481 150,241   150,240
14 Other employee salaries and wages...... 268,212 134,106   134,106
15 Pension plans, employee benefits....... 6,224 3,112   3,112
16a Legal fees (attach schedule)......... Click to see attachment 21,046 10,523   10,523
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 1,519,466 1,189,900   329,566
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 436,620 414,719   21,901
19 Depreciation (attach schedule) and depletion... Click to see attachment 3,741 0  
20 Occupancy.............. 11,906 4,686   7,220
21 Travel, conferences, and meetings....... 57,250 0   57,250
22 Printing and publications.......... 469 234   234
23 Other expenses (attach schedule)....... Click to see attachment 425,629 222,432   201,964
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,051,044 2,129,953   916,116
25 Contributions, gifts, grants paid....... 6,350,954 6,350,954
26 Total expenses and disbursements. Add lines 24 and 25 9,401,998 2,129,953   7,267,070
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 9,499,503
b Net investment income (if negative, enter -0-) 2,200,049
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 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.............   150,134 150,134
2 Savings and temporary cash investments......... 6,636,067 4,648,699 4,648,699
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)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 132,675,449 Click to see attachment143,840,423 144,975,124
14 Land, buildings, and equipment: basis bullet169,823
Less: accumulated depreciation (attach schedule) bullet3,741 0 Click to see attachment166,082 166,082
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 139,311,516 148,805,338 149,940,039
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)......    
22 Other liabilities (describe bullet) Click to see attachment20,606 Click to see attachment14,925
23 Total liabilities (add lines 17 through 22)......... 20,606 14,925
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 119,951,306 119,951,306
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 19,339,604 28,839,107
29 Total net assets or fund balances (see instructions)..... 139,290,910 148,790,413
30 Total liabilities and net assets/fund balances (see instructions). 139,311,516 148,805,338
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
139,290,910
2
Enter amount from Part I, line 27a .....................
2
9,499,503
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
148,790,413
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
148,790,413
Form 990-PF (2020)
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 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #1323      
b PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #1323      
c VIATRIS, INC. - CASH IN LIEU      
d PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
e PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
AMG PANTHEON FUND CLASS      
PUBLICLY TRADED SECURITIES - NATIONAL FINANCIAL SERVICE #3105      
(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 2,600,115   2,602,229 -2,114
b 1,674,393   1,673,822 571
c 8   6 2
d 7,230,750   6,934,890 295,860
e 2,921,066   2,901,564 19,502
5,260,650   4,580,072 680,578
2,899,447   2,881,299 18,148
422,560   426,835 -4,275
9,856     9,856
54,135   54,952 -817
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       -2,114
b       571
c       2
d       295,860
e       19,502
      680,578
      18,148
      -4,275
      9,856
      -817
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 1,017,311
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  
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
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
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 Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 30,581
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 30,581
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 30,581
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 166,018
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 166,018
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 106
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 135,331
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet135,331 RefundedBullet 11 0
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 the instructions
for the 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
 
No
d
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
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
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)
    bulletNC
    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 2020 or the taxable year beginning in 2020? 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 (2020)
    Form 990-PF (2020)
    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 addressbulletWWW.GAMBRELLFOUNDATION.ORG
    14
    The books are in care ofbulletMATT POTTER Telephone no.bullet (704) 553-8296

    Located atbullet5625 FAIRVIEW ROADCHARLOTTENC ZIP+4bullet28209
    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 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
    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
     
     
    ........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 2020?.............
    1c
     
    No
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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 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.)..................
    3b
     
    No
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    SALLY BELK GAMBRELL PRESIDENT
    20.00     		101,923 0 0
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    HANNAH RANKIN EXECUTIVE DIRECTOR
    20.00     		111,923 0 0
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    BRIAN BRIDGFORD DIRECTOR
    20.00     		86,634 0 0
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    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
    LAURA A SHEPARD DIRECTOR OF COMMUNIC
    30.00     		90,860 0 0
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    CARTER BOLLN FARM OPERATIONS
    40.00     		61,808 0 877
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    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
    BELK GAMBRELL ENTERPRISES LLC INVESTMENT MANAGEMENT 898,467
    5625 FAIRVIEW ROAD
    CHARLOTTE,NC28209
    FOUNDATION FOR THE CAROLINAS BUSINESS CONSULTANT 327,000
    220 N TRYON STREET
    CHARLOTTE,NC28202
    WELLINGTON MANAGEMENT CO LLP INVESTMENT MANAGEMENT 257,769
    222 W ADAMS STREET SUITE 2100
    CHICAGO,IL60606
    STRAIT INSIGHTS LLC MANAGEMENT CONSULTING 77,000
    430 BERTONLEY AVENUE
    CHARLOTTE,NC28211
    Total number of others receiving over $50,000 for professional services.............bullet0
    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.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    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
    80,285,856
    b
    Average of monthly cash balances.......................
    1b
    5,129,418
    c
    Fair market value of all other assets (see instructions)................
    1c
    51,884,973
    d
    Total (add lines 1a, b, and c).........................
    1d
    137,300,247
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    137,300,247
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    2,059,504
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    135,240,743
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    6,762,037
    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.)
    1
    Minimum investment return from Part X, line 6....................
    1
    6,762,037
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    30,581
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    30,581
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,731,456
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    6,731,456
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    6,731,456
    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
    7,267,070
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    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
    7,267,070
    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
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    7,267,070
    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)
    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 6,731,456
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    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...... 197,255
    e From 2019...... 1,316,828
    fTotal of lines 3a through e........ 1,514,083
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 7,267,070
    a Applied to 2019, but not more than line 2a 0
    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..... 6,731,456
    e Remaining amount distributed out of corpus 535,614
    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 2,049,697
    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 ......     		2,049,697
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018.... 197,255
    d Excess from 2019.... 1,316,828
    e Excess from 2020.... 535,614
    Form 990-PF (2020)
    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 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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
    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)
    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)
    aPaid during the year
    AMPLIFY AND ACTIVATE
    2724 WINGDALE DRIVE
    CHARLOTTE,NC28213     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,000
    CALDWELL PRESBYTERIAN CHURCH
    1615 E 5TH STREET
    CHARLOTTE,NC28204     		NONE PUBLIC CHARITY GENERAL PURPOSE 844,948
    CAMP BLUE SKIES FOUNDATION
    2820 SELWYN AVE BOX 767
    CHARLOTTE,NC28209     		NONE PUBLIC CHARITY GENERAL PURPOSE 200,000
    CAROLINA FARM TRUST INC
    19028 OAKHURST BLVD
    CORNELIUS,NC28031     		NONE PUBLIC CHARITY GENERAL PURPOSE 15,000
    CENTRAL PIEDMONT COMMUNITY COLLEGE FOUNDATION INC
    PO BOX 35009
    CHARLOTTE,NC282355009     		NONE PUBLIC CHARITY GENERAL PURPOSE 435,000
    CENTER FOR RACIAL EQUITY IN EDUCATION
    3424 ASHLEY VIEW DRIVE
    CHARLOTTE,NC28213     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    CHARLOTTE MECKLENBURG LIBRARY FOUNDATION
    220 NORTH TRYON STREET
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 500,000
    CHARLOTTE SYMPHONY ORCHESTRA SOCIETY INC
    128 SOUTH TRYON STREET SUITE 300
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 125,000
    CLASSROOM CENTRAL INC
    2116 WILKINSON BLVD
    CHARLOTTE,NC28208     		NONE PUBLIC CHARITY GENERAL PURPOSE 125,000
    CMS FOUNDATION
    4421 STUART ANDREW BLVD SUITE 100
    CHARLOTTE,NC28217     		NONE PUBLIC CHARITY GENERAL PURPOSE 100,000
    COMMUNITIES IN SCHOOLS OF CHARLOTTE-MECKLENBURG INC
    601 E 5TH STREET
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 50,717
    FLORENCE CRITTENTON SERVICES INC
    3350 HOLABIRD LANE
    CHARLOTTE,NC28208     		NONE PUBLIC CHARITY GENERAL PURPOSE 250,000
    INTERFAITH YOUTH CORE
    141 W JACKSON BLVD SUITE 3200
    CHICAGO,IL60604     		NONE PUBLIC CHARITY GENERAL PURPOSE 150,000
    INTERNATIONAL HOUSE OF METROLINA INC
    1817 CENTRAL AVENUE
    CHARLOTTE,NC28205     		NONE PUBLIC CHARITY GENERAL PURPOSE 40,000
    LEE PARK CHURCH
    2491 MORGAN MILL ROAD
    MONROE,NC28110     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    LOVE YOUR BRAIN FOUNDATION INC
    PO BOX 247
    NORWICH,VT05055     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,096
    MAKE-A-WISH FOUNDATION OF CENTRAL AND WESTERN NORTH CAROLINA INC
    217 E TREMONT AVENUE
    CHARLOTTE,NC28203     		NONE PUBLIC CHARITY GENERAL PURPOSE 1,500
    MCCOLL CENTER FOR ART INNOVATION
    721 NORTH TRYON STREET
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 8,333
    MOTHERS OF MURDERED OFFSPRING INC
    PO BOX 32153
    CHARLOTTE,NC28232     		NONE PUBLIC CHARITY GENERAL PURPOSE 750
    QUEENS UNIVERSITY
    1900 SELWYN AVENUE
    CHARLOTTE,NC28207     		NONE PUBLIC CHARITY GENERAL PURPOSE 2,000,000
    RAIN INC
    601 E 5TH STREET SUITE 470
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    SOUTHEASTERN COUNCIL ON FOUNDATIONS INC
    100 PEACHTREE STREET NW SUITE 2080
    ATLANTA,GA30303     		NONE PUBLIC CHARITY GENERAL PURPOSE 100,000
    THE BROOKINGS INSTITUTION
    1775 MASSACHUSETTS AVENUE NW
    WASHINGTON,DC20036     		NONE PUBLIC CHARITY GENERAL PURPOSE 621,610
    THE ELLEN 23 FOUNDATION INC
    716 ENGLISH TUDOR LANE
    CHARLOTTE,NC28211     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    THE STEVE SMITH FAMILY FOUNDATION
    PO BOX 77401
    CHARLOTTE,NC28271     		NONE PUBLIC CHARITY GENERAL PURPOSE 50,000
    UNITED WAY CENTRAL CAROLINAS INC
    601 E 5TH STREET SUITE 350
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 110,000
    VISION TO LEARN
    12100 WILSHIRE BLVD ROOM 1275
    LOS ANGELES,CA90025     		NONE PUBLIC CHARITY GENERAL PURPOSE 100,000
    WORLD CENTRAL KITCHEN INC
    655 NEW YORK AVE NW 6TH FLOOR
    WASHINGTON,DC20001     		NONE PUBLIC CHARITY GENERAL PURPOSE 5,000
    YOUNG BLACK LEADERSHIP ALLIANCE
    416 MCCULLOUGH DRIVE SUITE 215
    CHARLOTTE,NC28262     		NONE PUBLIC CHARITY GENERAL PURPOSE 10,000
    YOUNG WOMEN'S CHRISTIAN ASSOCIATION OF THE CENTRAL CAROLINAS INC
    3420 PARK ROAD
    CHARLOTTE,NC28209     		NONE PUBLIC CHARITY GENERAL PURPOSE 75,000
    YMCA OF GREATER CHARLOTTE
    400 E MOREHEAD STREET
    CHARLOTTE,NC28202     		NONE PUBLIC CHARITY GENERAL PURPOSE 400,000
    Total .................................bullet 3a 6,350,954
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    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
    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 5,067  
    4 Dividends and interest from securities....     14 1,598,979  
    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..... 523000 16,139,144      
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    14 1,017,311  
    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).. 16,139,144 2,621,357 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    18,760,501
    (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 (2020)
    Form 990-PF (2020)
    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 instructions.
    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 (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    THE GAMBRELL FOUNDATION
     
    Employer identification number

    56-2120679
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    THE GAMBRELL FOUNDATION
          		Employer identification number
    56-2120679
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    SALLY BELK GAMBRELL
    5625 FAIRVIEW ROAD
     
    CHARLOTTE, NC28209

    		$ 141,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    THE GAMBRELL FOUNDATION
          		Employer identification number

    56-2120679
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 FEE SIMPLE INTEREST IN OFFICE BUILDING AND GREENHOUSE $ 141,000 2020-04-01
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    THE GAMBRELL FOUNDATION
          		Employer identification number

    56-2120679
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

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

    TY 2020 DepreciationSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    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
    GREENHOUSE 2020-04-01 118,125   SL 39.000000000000 2,272 0    
    GENERATOR 2020-11-25 28,823   200DB 7.000000000000 1,029 0    
    OFFICE BUILDING 2020-04-01 22,875   SL 39.000000000000 440 0    

    TY 2020 InvestmentsOtherSchedule2
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SECURITIES HELD AT FIDELITY/NATIONAL FINANCIAL SERVICES #1323 FMV 5,709,181 5,709,181
    SECURITIES HELD AT FIDELITY/NATIONAL FINANCIAL SERVICES #3104 FMV 45,744,147 45,744,147
    SECURITIES HELD AT FIDELITY/NATIONAL FINANCIAL SERVICES #3105 FMV 28,605,565 28,605,565
    SECURITIES HELD AT FIDELITY/NATIONAL FINANCIAL SERVICES #5377 FMV 528,995 528,995
    0.3952% INTEREST IN ADAMS STREET 2019 GLOBAL FUND, LP FMV 191,167 453,505
    1.8015% INTEREST IN BIP CAPITAL VENTURE FUND IV-QP, LP FMV 749,945 1,239,257
    2.1944% INTEREST IN PLEXUS FUND IV-B, LP FMV 897,837 966,073
    3.130% INTEREST IN WHI REAL ESTATE PARTNERS IV-TE, LP FMV 1,714,363 2,038,148
    1.4763% INTEREST IN WHI REAL ESTATE PARTNERS V-TE, LP FMV 68,684 54,501
    0.5067% INTEREST IN INVESTMENT IN FULCRUM IV FMV 73,177 73,177
    17.3516% INTEREST IN FAIRWAY - CASTLE HILLS, LLLP FMV 2,532,612 2,532,612
    6.2361% INTEREST IN WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO FMV 14,717,612 14,720,992
    14.5112% INTEREST IN WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO FMV 14,306,252 14,308,075
    1.8670% INTEREST IN WELLINGTON TRUST CO, NA CTF INT'L QUALITY GROWTH FMV 26,935,684 26,940,821
    2.5288% INTEREST IN JFL PARALLEL FUND V FMV 147,169 142,042
    AMG PANTHEON PE FMV 918,033 918,033

    TY 2020 LandEtcSchedule2
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    GREENHOUSE 118,125 2,272 115,853  
    GENERATOR 28,823 1,029 27,794  
    OFFICE BUILDING 22,875 440 22,435  


    TY 2020 LegalFeesSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 21,046 10,523   10,523


    TY 2020 OtherExpensesSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADAMS STREET 2019 GLOBAL FUND, LP - CHARITABLE CONTRIBUTIONS 4 0   4
    ADAMS STREET 2019 GLOBAL FUND, LP - INVESTMENT INTEREST EXPENSES 7,376 7,376   0
    ADAMS STREET 2019 GLOBAL FUND, LP - OTHER DEDUCTIONS 29,162 29,161   0
    CONTINUING EDUCATION 51,908 25,954   25,954
    FULCRUM GROWTH FUND IV QP, LLC - INVESTMENT INTEREST EXPENSES 679 679   0
    FULCRUM GROWTH FUND IV QP, LLC - OTHER DEDUCTIONS 6,144 6,144   0
    JFL PARALLEL FUND V, LP - PORTFOLIO DEDUCTIONS 11,668 11,668   0
    MARKETING EXPENSES 105,827 0   105,827
    MEMBERSHIP DUES 33,290 0   33,290
    MISCELLANEOUS EXPENSES 5,054 2,527   2,527
    PLEXUS FUND IV-B, LP - CHARITABLE DONATION 61 0   61
    PLEXUS FUND IV-B, LP - INVESTMENT INTEREST EXPENSE 6,141 6,141   0
    PLEXUS FUND IV-B, LP - OTHER DEDUCTIONS 11,446 10,222   0
    PLEXUS FUND IV-B, LP - PORTFOLIO DEDUCTIONS 6 6   0
    WEB HOSTING AND SOFTWARE 8,875 4,437   4,438
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - PORTFOLIO DEDUCTIONS 6,274 6,274   0
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - OTHER DEDUCTIONS 40,948 40,948   0
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - OTHER DEDUCTIONS 5,960 5,960   0
    WHI REAL ESTATE PARTNERS IV-TE, LP - INVESTMENT INTEREST EXPENSE 1,524 1,524   0
    WHI REAL ESTATE PARTNERS IV-TE, LP - PORTFOLIO DEDUCTIONS 23,203 23,203   0
    WHI REAL ESTATE PARTNERS V-TE, LP - INVESTMENT INTEREST EXPENSE 595 595   0
    WHI REAL ESTATE PARTNERS V-TE, LP - PORTFOLIO DEDUCTIONS 7,230 7,230   0
    BIP CAPITAL VENTURE FUND IV-QP, LP - CHARITABLE CONTRIBUTIONS 1 0   1
    BIP CAPITAL VENTURE FUND IV-QP, LP - INVESTMENT INTEREST EXPENSE 7,115 7,115   0
    BIP CAPITAL VENTURE FUND IV-QP, LP - PORTFOLIO DEDUCTIONS 16,898 16,890   0
    SUPPLIES 20,288 8,378   11,910
    FARM SUPPLIES 11,416 0   11,416
    INSURANCE 1,888 0   1,888
    LANDSCAPING 3,062 0   3,062
    REPAIRS 106 0   106
    TRASH DISPOSAL 1,480 0   1,480


    TY 2020 OtherIncomeSchedule2
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    PLEXUS FUND IV-B, LP - DIVIDEND INCOME 508 508 508
    PLEXUS FUND IV-B, LP - ORDINARY BUSINESS INCOME 90,710 90,710 90,710
    PLEXUS FUND IV-B, LP - NET RENTAL REAL ESTATE INCOME 60 60 60
    PLEXUS FUND IV-B, LP - LONG-TERM CAPITAL GAINS 26,881 26,881 26,881
    PLEXUS FUND IV-B, LP - TAX-EXEMPT INCOME 4,861 0 4,861
    WHI REAL ESTATE PARTNERS IV-TE, LP - INTEREST INCOME 86,501 86,501 86,501
    WHI REAL ESTATE PARTNERS IV-TE, LP -DIVIDEND INCOME 35,650 35,650 35,650
    WHI REAL ESTATE PARTNERS IV-TE, LP - LONG-TERM CAPITAL GAINS 54,364 54,364 54,364
    WHI REAL ESTATE PARTNERS V-TE, LP - INTEREST INCOME 1,512 1,512 1,512
    WHI REAL ESTATE PARTNERS V-TE, LP - DIVIDEND INCOME 89 89 89
    WHI REAL ESTATE PARTNERS V-TE, LP - SHORT-TERM CAPITAL GAINS 17 17 17
    FAIRWAY - CASTLE HILLS, LLLP - NET RENTAL REAL ESTATE LOSSES -701,149 -701,149 -701,149
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - INTEREST INCOME 1,656 1,656 1,656
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - DIVIDEND INCOME 143,368 143,368 143,368
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - ST CAPITAL LOSSES -328,795 -328,795 -328,795
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - LT CAPITAL GAINS 707,114 707,114 707,114
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - PORTFOLIO INCOME 70,283 70,283 70,283
    WELLINGTON TRUST CO, NA CTF GLOBAL IMPACT PORTFOLIO - SECTION 1256 LOSSES -2,519 -2,519 -2,519
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - INTEREST INCOME 1,573 1,573 1,573
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - DIVIDEND INCOME 338,827 338,827 338,827
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - ST CAPITAL LOSSES -482,334 -482,334 -482,334
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - LT CAPITAL GAINS 703,555 703,555 703,555
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - PORTFOLIO INCOME -11,211 -11,211 -11,211
    WELLINGTON TRUST CO, NA CTF INT QUALITY GROWTH PORTFOLIO - SECTION 1256 LOSS -1,761 -1,761 -1,761
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - INTEREST INCOME 2,425 2,425 2,425
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - DIVIDEND INCOME 394,973 394,973 394,973
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - ST CAPITAL GAINS -211,224 -211,224 -211,224
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - LT CAPITAL GAINS 788,991 788,991 788,991
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - PORTFOLIO INCOME -129 -129 -129
    WELLINGTON TRUST CO, NA CTF ENDURING ASSETS PORTFOLIO - SECTION 1256 LOSS -237 -237 -237
    JFL PARALLEL FUND V, LP - INTEREST INCOME 3 3 3
    BOOK UNREALIZED GAIN (MARK TO MARKET SECURITIES) 14,402,213 0 14,402,213
    ADAMS STREET 2019 GLOBAL FUND, LP - ORDINARY BUSINESS INCOME 142 142 142
    ADAMS STREET 2019 GLOBAL FUND, LP - INTEREST INCOME 466 466 466
    ADAMS STREET 2019 GLOBAL FUND, LP - DIVIDEND INCOME 6,180 6,180 6,180
    ADAMS STREET 2019 GLOBAL FUND, LP - SHORT-TERM CAPITAL GAINS 688 688 688
    ADAMS STREET 2019 GLOBAL FUND, LP - LONG-TERM CAPITAL GAINS 22,735 22,735 22,735
    ADAMS STREET 2019 GLOBAL FUND, LP - OTHER INCOME 274 274 274
    ADAMS STREET 2019 GLOBAL FUND, LP - SECTION 1250 GAIN (LOSS) 39 39 39
    BIP CAPITAL VENTURE FUND IV-QP, LP - ORDINARY BUSINESS LOSS -13,133 -13,133 -13,133
    BIP CAPITAL VENTURE FUND IV-QP, LP - INTEREST INCOME 4,978 4,978 4,978


    TY 2020 OtherLiabilitiesSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Description Beginning of Year - Book Value End of Year - Book Value
    OTHER LIABILITIES 20,606 14,925


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CONSULTING FEES 329,566 0   329,566
    INVESTMENT MANAGEMENT FEES 1,189,900 1,189,900   0


    TY 2020 TaxesSchedule
    Name:
    THE GAMBRELL FOUNDATION
    EIN:
    56-2120679
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAYROLL TAX EXPENSE 43,802 21,901   21,901
    FOREIGN TAXES PAID 123,121 123,121   0
    EXCISE TAX 269,697 269,697   0