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 FLORENCE FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)4519 MCINNIS AVENUE
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MOSS POINT, MS39563

A Employer identification number

63-0843906

B Telephone number (see instructions)

(228) 474-0703

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

$4,536,213J 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	9		9
4	Dividends and interest from securities...	126,895		126,895
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-80,246
b	Gross sales price for all assets on line 6a 250,965
7	Capital gain net income (from Part IV, line 2)...			0
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).......		13,705	-5,970
12	Total. Add lines 1 through 11........	60,363		120,934
13	Compensation of officers, directors, trustees, etc.	45,000		7,500	37,500
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		3,420	0	3,420
c	Other professional fees (attach schedule)....
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		6,015	0	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		10,161	0	0
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	64,596		7,500	40,920
25	Contributions, gifts, grants paid.......	208,500			208,500
26	Total expenses and disbursements. Add lines 24 and 25	273,096		7,500	249,420
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-212,733
b	Net investment income (if negative, enter -0-)			113,434
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.............
	2	Savings and temporary cash investments.........	98,231	6,174	6,174
	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..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	2,053,608	1,963,996	3,802,528
	c	Investments—corporate bonds (attach schedule).......	86,217	85,956	100,522
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	542,989	527,805	626,989
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	2,781,045	2,583,931	4,536,213
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	2,781,045	2,583,931
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	2,781,045	2,583,931
	30	Total liabilities and net assets/fund balances (see instructions).	2,781,045	2,583,931

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

2,781,045

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

-212,733

Other increases not included in line 2 (itemize) bullet

19,766

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

2,588,078

Decreases not included in line 2 (itemize) bullet

4,147

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

2,583,931

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	600 SH AT&T INC		2011-01-14	2020-12-18
b	1000 SH ANNALY CAP MGMT		2013-12-31	2020-12-18
c	533 SH CORTEVA INC		2006-01-06	2020-12-18
d	4000 SH FNMA 8.25% T PFD PERPTL		1980-05-14	2020-09-04
e	125 SH CARRIER GLOBAL CORP		2020-04-03	2020-04-07
	200 SH CHEVRON CORP		2015-03-26	2020-04-20
	80 SH CHEVRON CORP		2020-02-19	2020-04-20
	220 SH DOMINION ENERGY		2020-05-19	2020-10-01
	125 SH DUKE ENERGY		2018-04-11	2020-08-27
	400 SH GLAXOSMITHKLINE PLC		2016-03-29	2020-09-01
	1190 SH HUNTINGTON BANCSHS		2019-09-12	2020-04-09
	500 SH METLIFE INC		2018-05-16	2020-09-01
	175 SH MID AMERICA APARTMENT CO		2018-09-19	2020-03-31
	75 SH OMNICOM GROUP INC		2015-12-13	2020-07-06
	75 SH OMNICOM GROUP INC		2019-08-30	2020-08-21
	850 SH PEOPLES UNITED FINL		2014-05-27	2020-08-21
	350 SH ROYAL DUTCH SHELL		2017-10-19	2020-02-18
	350 SH TOTAL S E DISC COMPL PA F		2018-04-18	2020-09-23
	OTIS WORLDWIDE CORP CIL		2020-04-03	2020-04-07
	62 SH OTIS WORLDWIDE CORP CIL		2020-04-03	2020-06-15
	CAPITAL GAINS FROM PARTNERSHIPS	P
	1231 GAIN FROM PARTNERSHIPS	P
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	17,519	16,872	647
b	8,270	8,294	-24
c	20,824	1,970	18,854
d	33,189	100,000	-66,811
e	1,914	2,457	-543
	16,791	21,350	-4,559
	6,717	8,839	-2,122
	17,275	17,373	-98
	9,964	9,643	321
	15,588	18,012	-2,424
	10,891	17,377	-6,486
	19,410	24,091	-4,681
	17,444	16,226	1,218
	4,116	5,470	-1,354
	3,809	5,719	-1,910
	8,867	11,826	-2,959
	17,577	22,508	-4,931
	11,607	19,748	-8,141
	24		24
	3,424	3,436	-12
	115		115
	897		897
	4,733		4,733

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			647
b			-24
c			18,854
d			-66,811
e			-543
			-4,559
			-2,122
			-98
			321
			-2,424
			-6,486
			-4,681
			1,218
			-1,354
			-1,910
			-2,959
			-4,931
			-8,141
			24
			-12
			115
			897
			4,733

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	-80,246
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	1,577
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	1,577
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	1,577
6	Credits/Payments:

a	2020 estimated tax payments and 2019 overpayment credited to 2020	6a	3,528
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	6,000
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	9,528
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	7,951
11	Enter the amount of line 10 to be: Credited to 2021 estimated tax7,951	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.................

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

DWAIN G LUCE JR Telephone no. bullet

(228) 474-0703

Located at bullet

4519 MCINNIS AVENUEMOSS POINTMS ZIP+4 bullet

39563

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-)
DWAIN G LUCE JR	TRUSTEE 4.00	15,000
4519 MCINNIS AVENUE MOSS POINT,MS39563	TRUSTEE 4.00	15,000
C WILLIAM BODIE MD	TRUSTEE 1.00	15,000
4210 BELLEVUE LANE MOBILE,AL36608	TRUSTEE 1.00	15,000
THOMAS F GARTH	TRUSTEE 1.00	15,000
PO BOX 2727 MOBILE,AL36652	TRUSTEE 1.00	15,000

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
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


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

4,178,484

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

52,202

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

357,481

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

4,588,167

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

4,588,167

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

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

68,823

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

4,519,344

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

225,967

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

225,967

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

1,577

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

5,247

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

6,824

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

219,143

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

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

219,143

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

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

219,143

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 ..........

249,420

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

249,420

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

249,420

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				219,143
2 Undistributed income, if any, as of the end of 2020:
a Enter amount for 2019 only.......			150,145
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: $ 249,420
a Applied to 2019, but not more than line 2a			150,145
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.....				99,275
e Remaining amount distributed out of corpus	0
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	0
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 ..........				119,868
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 ......	0
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....

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 e-mail address of the person to whom applications should be addressed:

DWAIN G LUCE
4519 MCINNIS AVENUE
MOSS POINT,MS39563
(228) 474-0703

bThe form in which applications should be submitted and information and materials they should include:

NO PRESCRIBED FORM

cAny submission deadlines:

NONE

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

ORGANIZATION MUST BE QUALIFIED UNDER INTERNAL REVENUE CODE SECTION 501(C)(3)

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
CAMP RAP-A-HOPE 2701 AIRPORT BLVD MOBILE,AL36606		PUBLIC CHARITY	CHILDREN'S CAMPS	5,000
COMMUNITY SERVICES FOR VISION REHABILITATION 600 BEL AIR BLVD SUITE 110 MOBILE,AL36606		PUBLIC CHARITY	SERVICES FOR VISION REHABILITATION	10,000
CRITTENTON YOUTH SERVICES 4367 DOWNTOWNER LOOP NORTH MOBILE,AL36609		PUBLIC CHARITY	EDUCATION	10,000
DISTINGUISHED YOUNG WOMEN 751 GOVERNMENT STREET MOBILE,AL36602		PUBLIC CHARITY	EDUCATION	2,500
DUMAS WESLEY COMMUNITY CENTER 126 MOBILE STREET MOBILE,AL36670		PUBLIC CHARITY	COMMUNITY OUTREACH	10,000
EDITH MURPHY FOUNDATION PO BOX 7552 MOBILE,AL36670		PUBLIC CHARITY	HEALTH & EDUCATION	3,000
ELIJAH HOUSE PO BOX 6798 MOBILE,AL36660		PUBLIC CHARITY	PRISON REFORM	5,000
LIGHT OF THE VILLAGE PO BOX 1641 BAY MINETTE,AL36507		PUBLIC CHARITY	CHILDREN'S CAMPS	10,000
MCKEMIE PLACE PO BOX 9082 MOBILE,AL36691		PUBLIC CHARITY	WOMEN'S SHELTER	5,000
MOBILE COUNTY METRO JAIL MINISTRIES 450 ST EMANUEL STREET MOBILE,AL36603		PUBLIC CHARITY	PRISON MINISTRY	10,000
MOBILE HISTORIC DEVELOPMENT COMMISSION PO BOX 1827 MOBILE,AL36633		PUBLIC CHARITY	HISTORIC PRESERVATION	3,000
MOBILE INFIRMARY FOUNDATION PO BOX 2226 MOBILE,AL36652		PUBLIC CHARITY	PULMONARY REHAB CENTER	25,000
MOBILE RESCUE MISSION 206 STATE STREET MOBILE,AL36601		PUBLIC CHARITY	OPERATIONS	1,000
PROVIDENCE HOSPITAL 6801 AIRPORT BLVD MOBILE,AL36608		PUBLIC CHARITY	HEALTH	10,000
RAISING THE ROOF 1660 LAUREL STREET MOBILE,AL36604		PUBLIC CHARITY	HOME REPAIR MINISTRY	5,000
ST LUKE'S EPISCOPAL SCHOOL 1400 S UNIVERSITY BLVD MOBILE,AL36609		PUBLIC CHARITY	CHESS PROGRAM	5,000
ST PAUL'S EPISCOPAL SCHOOL 161 DOGWOOD LANE MOBILE,AL36608		PUBLIC CHARITY	CHESS PROGRAM	5,000
TEAM FOCUS 1300 SCHILLINGER ROAD SUITE MOBILE,AL36695		PUBLIC CHARITY	OPERATIONS	10,000
THE SALVATION ARMY DAUPHIN STREET MOBILE,AL36604		PUBLIC CHARITY	OPERATIONS	1,000
TRINITY FAMILY MINISTRIES 2467 VICTORY AVENUE MOBILE,AL36617		PUBLIC CHARITY	COMMUNITY OUTREACH	10,000
UMS - WRIGHT 65 MOBILE ST N MOBILE,AL36607		PUBLIC CHARITY	EDUCATION	10,000
UNIVERSITY OF MOBILE 5735 COLLEGE PKWY MOBILE,AL36695		PUBLIC CHARITY	EDUCATION	20,000
VICTORY HEALTH PARTNERS PO BOX 851717 MOBILE,AL36609		PUBLIC CHARITY	HEALTH & EDUCATION	10,000
WILMER HALL 3811 OLD SHELL RD MOBILE,AL36608		PUBLIC CHARITY	CHILDREN'S HOME	3,000
WINGS OF LIFE 800 ST LOUIS STREET MOBILE,AL36602		PUBLIC CHARITY	REHAB CENTER	5,000
YOUNG LIFE 7171 COTTAGE HILL ROAD MOBILE,AL36695		PUBLIC CHARITY	YOUTH GROUP	15,000
Total ................................. 3a				208,500

bApproved for future payment

Total ................................. 3b				0

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 ...........			14	9
4 Dividends and interest from securities....			14	126,895
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.....			14
8 Gain or (loss) from sales of assets other than inventory ............			18	-80,246
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPARTNERSHIP INCOME		19,675			-5,970
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..		19,675		46,658	-5,970

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

60,363

(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.)
11A	INCOME (LOSS) FROM PUBLICLY TRADED PARTNERSHIPS HELD FOR INVESTMENT

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 FLORENCE FOUNDATION

EIN:

63-0843906

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
ACCOUNTING FEES	3,420	0		3,420

- TIN:

TY 2020 InvestmentsCorpBondsSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Name of Bond	End of Year Book Value	End of Year Fair Market Value
EMBARQ CORP	35,503	37,004
SOUTHTRUST BANK BHAM MED TERM - 50,000	50,453	63,518

- TIN:

TY 2020 InvestmentsCorpStockSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Name of Stock	End of Year Book Value	End of Year Fair Market Value
3M CO - 125 SHARES	33,522	30,588
ABBOTT LABORATORIES - 500 SHARES	11,368	54,745
ABBVIE INC - 300 SH	19,700	32,145
ABBVIE INC. - 500 SHARES	12,327	53,575
ACCENTURE - 100 SHARES	16,843	26,121
ALLIANT ENERGY - 2000 SHARES	20,231	103,060
ALTRIA GROUP INC - 370 SHARES	12,593	15,170
AMER ELECTRIC PWR CO - 220 SH	27,236	25,814
ANWORTH MORTGAGE ASSET CORP SER B CUM CONV PFD 6.25% - 4000 SHARES	98,539	97,400
ASTRAZENECA PLC - 620 SHARES	22,778	30,994
AT&T INC - 1400 SHARES	39,368	40,264
BLACKROCK INC - 50 SHARES	8,905	36,077
BRISTOL MYERS SQUIBB COMPANY - 2000 SHARES	40,800	124,060
CARDINAL HEALTH INC - 125 SHARES	15,718	13,390
CHUBB LTD - 150 SHARES	31,573	38,480
COCA COLA - 400 SHARES	5,871	21,936
COCA COLA COMPANY - 500 SHARES	24,842	30,710
COLGATE-PALMOLIVE CO - 300 SH	20,623	25,653
CONOCOPHILLIPS - 1000 SHARES	53,497	39,990
CONSOLIDATED EDISON - 950 SHARES	37,507	68,657
DOMINION ENERGY INC - 1000 SHARES	26,875	75,200
DOW INC - 533 SH	3,846	29,582
DUPONT DE NEMOURS INC - 533 SH	5,644	37,902
EVERGY INC - 2900 SHARES	51,765	160,979
EXELON CORP - 1600 SHARES	43,303	67,552
EXXON MOBIL - 700 SHARES	28,728	28,854
GENUINE PARTS CO - 225 SHARES	28,344	30,129
GLOBAL PAYMENTS INC - 137 SH	22,128	35,975
HARTFORD FINANCIAL SERV GROUP INC - 300 SHARES	2,041	14,694
HOME DEPOT INC - 125 SHARES	25,601	33,203
HONEYWELL INTL INC - 150 SHARES	22,708	31,905
HUBBELL INC - 150 SHARES	19,865	23,519
IBM CORP - 150 SH	20,330	18,882
INTERNATIONAL BUSINESS MACHINES CORP - 500 SHARES	32,490	62,940
JOHNSON & JOHNSON - 1000 SHARES	52,104	157,380
JOHNSON & JOHNSON - 200 SHARES	21,684	31,476
JOHNSON CTLS INTL - 450 SHARES	31,408	34,943
KINDER MORGAN INC - 2193 SHARES	89,297	29,978
KRAFT HEINZ - 166 SHARES	5,079	5,754
LILLY ELI & COMPANY - 1000 SHARES	18,779	168,840
M&T BANK CORP - 125 SH	20,822	15,913
MCDONALDS CORP - 1000 SHARES	72,327	214,580
MEDTRONIC PLC - 250 SHARES	23,669	29,285
MERCHANTS & MARINE BANK - 4485 SHARES	47,654	158,455
MERCK & CO - 300 SHARES	15,344	24,540
MICROSOFT - 1000 SHARES	22,055	222,420
MICROSOFT CORP - 200 SHARES	9,393	44,484
MID-AMERICA APT CMNTYS - 360 SHARES	21,786	45,608
MONDOLEZ INTERNATIONAL - 500 SHARES	10,178	29,235
NORTHERN TRUST CORP - 200 SHARES	21,450	18,628
NORTHWEST NATURAL GAS - 1000 SHARES	26,442	45,990
OMNICOM GROUP INC - 75 SHARES	5,604	4,678
PAYCHEX INC - 300 SHARES	15,159	27,954
PROCTER & GAMBLE INC - 285 SHARES	23,279	39,655
S&P GLOBAL INC - 60 SH	13,754	19,724
SOUTHERN CO - 3000 SHARES	102,285	184,290
SYSCO CORP - 1000 SHARES	29,293	74,260
TEXAS INSTRUMENTS INC. - 220 SHARES	8,780	36,109
UNILEVER PLC - 1000 SHARES	27,548	60,360
UNITED PARCEL SRVC - 200 SHARES	21,547	33,680
VALERO ENERGY CORP - 680 SHARES	37,180	38,468
VERIZON COMMUNICATIONS - 200 SHARES	9,308	11,750
VERIZON COMMUNICATIONS - 730 SHARES	37,585	42,888
VISA INC - 125 SHARES	17,057	27,341
VULCAN MATERIAL - 450 SHARES	18,862	66,740
WEYERHAEUSER COMPANY - 3200 SHARES	30,572	107,296
WILLIS TOWERS WATSON P F - 125 SH	22,245	26,335
COMCAST CORP - 410 SH	21,098	21,484
FIDELITY NATL INFO - 130 SH	18,990	18,390
JPMORGAN CHASE & CO - 175 SH	17,924	22,237
MARSH & MCLENNAN CO - 170 SH	19,818	19,890
MONDOLEZ INTERNATIONAL - 330 SHARES	17,503	19,295
RAYTHEON TECHNOLOGIES - 295 SH	17,260	21,095
SAP SE - 150 SH	17,004	19,559
STARBUCKS CORP - 200 SH	17,361	21,396

- TIN:

TY 2020 InvestmentsOtherSchedule2

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
DOUBLELINE TOTAL RETURN BOND	FMV	34,733	33,473
ENTERPRISE PRODUCTS PARTNERS - 8,216 SH	FMV	97,244	160,951
MAGELLAN MIDSTREAM LP - 4,000 SH	FMV	56,848	169,760
NUSTAR ENERGY LP	FMV	52,450	14,410
NUVEEN GLOBAL HIGH INCOME FUND - 2941 SHARES	FMV	81,710	45,733
PLAINS ALL AMERICAN PIPELINE LP	FMV	71,123	12,360
VANGUARD INTERMEDIATE TERM INVESTMENT	FMV	133,697	190,302

- TIN:

TY 2020 OtherDecreasesSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Description	Amount
TIMING DIFFERENCES BOOK AND TAX	4,147

- TIN:

TY 2020 OtherExpensesSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
D&O - AON LIABILITY INSURANCE	3,612	0		0
INVESTMENT FEES	6,549	0		0

- TIN:

TY 2020 OtherIncomeSchedule2

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
PARTNERSHIP INCOME	13,705	-5,970	13,705

- TIN:

TY 2020 OtherIncreasesSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Description	Amount
EXCESS PARTNERSHIP DISTRIBUTIONS OVER REPORTED TAX AMOUNTS	19,766

- TIN:

TY 2020 TaxesSchedule

Name:

THE FLORENCE FOUNDATION

EIN:

63-0843906

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAXES	483	0		0
ESTIMATED TAX - 990-PF	3,528	0		0
TAX - 990-PF	2,004	0		0